Applicable Margin Definition Example with 6 Variations
This page contains an example definition of Applicable Margin, followed by definitions with minor variations. You can view the differences between the example and variations by selecting the "Show Differences" option.
Applicable Margin. Means, for any day, with respect to any ABR Loan or Eurodollar Loan, or with respect to the Commitment Fee Rate, as the case may be, the rate per annum set forth in the Borrowing Base Utilization Grid below based upon the Borrowing Base Utilization Percentage then in effect: Borrowing Base Utilization Percentage <25% 325% <50% 350% <75% 375% <90% 390% LIBOR Margin 1.50 % 1.75 % 2.00 % 2.25 % 2.50 % ABR Margin 0.50 % 0.75 % 1.00 % 1.25 % 1.50 % Commitment Fee Rate 0.375 % 0.375 % 0.50 % 0.50 % 0.50 % Each change in the Applicable Margin shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change, provided, however, that if at any time the Borrower fails to deliver a Reserve Report pursuant to Section 8.12(a), then the "Applicable Margin" means the rate per annum set forth on the grid when the Borrowing Base Utilization Percentage is at its highest level.
Found in
PETROHAWK ENERGY CORP contract
Variations
Applicable Margin. Means, for any day, with respect to any ABR Loan or Eurodollar Loan, or with respect to the Commitment Fee Rate, as the case may be, the applicable rate per annum set forth in the Borrowing Base Utilization Grid below based upon on the Borrowing Base Utilization Percentage then in effect: effect on such day: Borrowing Base Utilization Percentage <25% 325% <50% 350% <75% 375% <90% 390% LIBOR Margin 1.50 <25 % 1.75 >25% <50 % 2.00 >50% <75 % 2.25 >75% <90 % >90 % Eurodollar Loans 2.500 % 2.750 % 3.000 % 3.250 % 3.500 % ABR Margin 0.50 Loans 1.625 % 0.75 1.875 % 1.00 2.125 % 1.25 2.375 % 1.50 2.625 % Commitment Fee Rate 0.375 0.500 % 0.375 0.500 % 0.500 % 0.500 % 0.500 % Each change in the Applicable Margin and the Commitment Fee Rate shall apply during the period commencing on the effective date of such change in the Borrowing Base Utilization Percentage and ending on the date immediately preceding the effective date of the next such change, change; provided, however, that if at any time the Borrower fails to deliver a Reserve Report pursuant to Section 8.12(a), then the "Applicable Margin" means and "Commitment Fee Rate" each shall mean the rate per annum set forth on the grid when the Borrowing Base Utilization Percentage is at its highest level. level
Found in
PETROQUEST ENERGY INC contract
Applicable Margin. Means, for any day, with respect to any ABR Loan or Eurodollar Loan, or with respect to the Commitment Fee Rate, as the case may be, the rate per annum set forth in the Borrowing Base Utilization Grid below based upon the Borrowing Base Utilization Percentage then in effect: Borrowing Base Utilization Grid Borrowing Base Utilization Percentage <25% 325% but <50% 350% but <75% 375% but <90% 390% LIBOR Margin 1.50 % 1.75 % 2.00 % 2.25 % 2.50 % >90% ABR Margin 0.50 % 0.75 % 1.00 % 1.25 % 1.50 % Commitment Fee Rate 0.375 % 0.375 % 0.50 % 0.50 % 0.50 % Loans 0.75% 1.00% 1.25% 1.50% 1.75% Eurodollar Loans 1.75% 2.00% 2.25% 2.50% 2.75% Each change in the Applicable Margin shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change, provided, however, that if at any time the Borrower fails to deliver a Reserve Report pursuant to Section 8.12(a), then the "Applicable Margin" ‘Applicable Margin' means the rate per annum set forth on the grid when the Borrowing Base Utilization Percentage is at its highest level.
Found in
Rosetta Resources Inc. contract
Applicable Margin. Means, means, for any day, with respect to any ABR Loan or Eurodollar Loan, or with respect to the Commitment Fee Rate, as the case may be, the rate per annum set forth in the Borrowing Base Utilization Grid below based upon the Borrowing Base Utilization Percentage then in effect: Page Borrowing Base Utilization Grid Borrowing Base Utilization Percentage <25% 325% <50% 350% <75% 375% <90% 390% < 50% 3 50% < 75 % 3 75 % < 90 % 3 90 % LIBOR Margin 1.50 % 1.75 % 2.00 % 2.25 % 2.50 % 1.000% 1.250% 1.500% 1.750% ABR Margin 0.50 % 0.75 % 1.00 % 1.25 % 1.50 % 0.000% 0.000% 0.250% 0.500% Commitment Fee Rate 0.375 % 0.375 % 0.50 % 0.50 % 0.50 % 0.250% 0.375% 0.375% 0.375% Each change in the Applicable Margin or Commitment Fee Rate shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change, provided, however, that if at any time the Borrower fails to deliver a Reserve Report pursuant to Section 8.12(a), then the "Applicable Margin" or "Commitment Fee Rate" means the rate per annum set forth on the grid when the Borrowing Base Utilization Percentage is at its highest level.
Found in
Rosetta Resources Inc. contract
Applicable Margin. Means, for any day, with respect to any ABR Loan or Eurodollar Loan, or with respect to the Commitment Fee Rate, as the case may be, the rate per annum set forth in the Borrowing Base Utilization Grid below based upon the Borrowing Base Utilization Percentage then in effect: Borrowing Base Utilization Grid Borrowing Base Utilization Percentage <25% 325% <50% 350% <75% 375% <90% 390% < 50% 3 50% < 75 % 3 75 % < 90 % 3 90 % LIBOR Margin 1.50 % 1.75 % 2.00 % 2.25 % 2.50 % 1.125% 1.375% 1.625% 1.875% ABR Margin 0.50 % 0.75 % 1.00 % 1.25 % 1.50 % 0.000% 0.000% 0.250% 0.500% Commitment Fee Rate 0.375 % 0.375 % 0.50 % 0.50 % 0.50 % 0.250% 0.375% 0.375% 0.375% Each change in the Applicable Margin or Commitment Fee Rate shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change, provided, however, that if at any time the Borrower fails to deliver a Reserve Report pursuant to Section 8.12(a), then the "Applicable Margin" or "Commitment Fee Rate" means the rate per annum set forth on the grid when the Borrowing Base Utilization Percentage is at its highest level.
Found in
Rosetta Resources Inc. contract
Applicable Margin. Means, means, for any day, with respect to any ABR Loan or Eurodollar Loan, or with respect to the Commitment Fee Rate, as the case may be, the applicable rate per annum set forth in the Borrowing Base Utilization Grid below based upon the Borrowing Base Utilization Percentage then in effect: Borrowing Base Utilization Percentage <25% 325% <50% 350% <75% 375% <90% 390% LIBOR Margin 1.50 % 1.75 % 2.00 % 2.25 % 2.50 % Eurodollar Loans ABR Margin 0.50 % 0.75 % 1.00 % 1.25 % 1.50 % Commitment Fee Rate 0.375 % 0.375 % 0.50 % 0.50 % 0.50 % Loans > 90% 3.25% 2.25% > 75% and < 90% 3.00% 2.00% > 50% and < 75% 2.75% 1.75% < 50% 2.50% 1.50% Each change in the Applicable Margin shall apply during the period commencing on the effective date of such a change in the Borrowing Base Utilization Percentage and ending on the date immediately preceding the effective date of the next such change, provided, however, that if at any time the Borrower fails to deliver a Reserve Report pursuant to Section 8.12(a), then the "Applicable Margin" means the rate per annum set forth on the grid when the Borrowing Base Utilization Percentage is at its highest level.
Found in
MCMORAN EXPLORATION CO contract
Applicable Margin. Means, for any day, with respect to any ABR Loan or Eurodollar Loan, or with respect to the Commitment Fee Rate, as the case may be, the applicable rate per annum set forth in the Borrowing Base Utilization Grid below based upon on the Borrowing Base Utilization Percentage then in effect: effect on such day: Borrowing Base Utilization Percentage <25% 325% <50% 350% <75% 375% <90% 390% LIBOR Margin 1.50 % 1.75 % Eurodollar Loans 2.000 % 2.250 % 2.500 % 2.750 % 3.000 % ABR Margin 0.50 Loans 1.125 % 0.75 1.375 % 1.00 1.625 % 1.25 1.875 % 1.50 2.125 % Commitment Fee Rate 0.375 0.500 % 0.375 0.500 % 0.500 % 0.500 % 0.500 % Each change in the Applicable Margin and the Commitment Fee Rate shall apply during the period commencing on the effective date of such change in the Borrowing Base Utilization Percentage and ending on the date immediately preceding the effective date of the next such change, provided, however, that if at any time the Borrower fails to deliver a Reserve Report pursuant to Section 8.12(a), then the "Applicable Margin" means the rate per annum set forth on the grid when the Borrowing Base Utilization Percentage is at its highest level. change.
Found in
Atlas Energy Resources, LLC contract
