Applicable Margin

Applicable Margin. With respect to the Loans (i) on the Fourth Amendment Effective Date and through the date of delivery of the completed Officer's Compliance Certificate for the fiscal quarter ending January 31, 2011, the percentages set forth for Level III in the chart below and (ii) for each fiscal quarter ending after January 31, 2011, the percentages determined by reference to the Adjusted Debt to EBITDAR Ratio as of the end of the fiscal quarter immediately preceding the delivery of the applicable Officer's... Compliance Certificate as follows: View More

Applicable Margin. A per annum rate equal to (a) 1.00%, if the ratio of Debtor's Senior Funded Debt to EBITDA (as each of such terms is defined in the Agreement) (the "Senior Funded Debt Ratio") as at the end of the most recent fiscal quarter in respect of which Debtor has furnished a financial statement to Bank as required by the Agreement (the "Reported Period") is equal to or greater than 1.00:1.00, and (b) 0.90%, if the Senior Funded Debt Ratio as at the end of the most recent Reported Period is less than... 1.00:1.00. A change in the Applicable Margin resulting from a change in the Senior Funded Debt Ratio shall become effective on the first day of the calendar month following a calendar month in which a financial statement furnished by Debtor to Bank pursuant to the Agreement reflects a change in the Senior Funded Debt Ratio which requires a change in the Applicable Margin as provided herein. For the purpose of determining the Applicable Margin, if a default under this note or an Event of Default (as such term is defined in the Agreement) has occurred and is continuing (including without limitation a default or an Event of Default resulting from the failure of Debtor to furnish any financial statement to Bank as required by the Agreement), then, without waiving any right or remedy that Bank may have under the Agreement as a result of such default or Event of Default (including without limitation the right to accelerate Debtor's obligations or to invoke the default interest rate), the Senior Funded Debt Ratio shall be conclusively presumed to be greater than 1.00:1.00 from the date of the occurrence of such default or Event of Default until such default or Event of Default is cured by Debtor or waived by Bank. View More

Applicable Margin. For any day, with respect to any ABR Loan or any Eurodollar Loan, or with respect to the commitment fees payable hereunder, as the case may be, the Applicable Margin per annum set forth below under the caption "ABR Spread", "Eurodollar Spread" or "Commitment Fee Rate", as the case may be, based upon the ratings by Moody's and S&P, respectively, applicable on such date to the Index Debt: Index Debt Ratings Commitment Fee Rate Eurodollar Spread ABR Spread Category 1 Baa1/BBB+ 0.150 % 1.125 %...% 0.125 % Category 2 Baa2/BBB 0.200 % 1.250 % 0.250 % Category 3 Baa3/BBB- 0.250 % 1.500 % 0.500 % Category 4 Ba1/BB+ 0.300 % 1.750 % 0.750 % Category 5 View More

Found in Pioneer Natural Resources contract

Applicable Margin. Borrowing Base Utilization Grid Borrowing Base Utilization Percentage < 50% ≥ 50% < 75% ≥ 75% ≤ 85% > 85% ≤ 100% ABR Loans 0.500 % 0.750 % 1.000 % 1.250 % Eurodollar Loans 2.000 % 2.250 % 2.500 % 2.750 %

Applicable Margin. (a) in the case of a Base Interest Rate Loan, (i) two and one-half percent (2-1/2%) per annum, if the Leverage Ratio as of the last day of the most recent fiscal quarter in respect of which Borrower has furnished a Financial Statement (as such term is defined in the Credit Agreement) to Bank as required by the Credit Agreement (the "Reported Period") is greater than or equal to 1.50 to 1.00 or (ii) two and one-quarter percent (2-1/4%) per annum, if the Leverage Ratio as of the last day of the... most recent Reported Period is less than 1.50 to 1.00, and (b) in the case of a Reference Rate Loan, (i) one and one-quarter percent (1-1/4%) per annum, if the Leverage Ratio as of the last day of the most recent Reported Period is greater than or equal to 1.50 to 1.00 or (ii) one percent (1%) per annum, if the Leverage Ratio as of the last day of the most recent Reported Period is less than 1.50 to 1.00. A change to the Applicable Margin resulting from a change in the Leverage Ratio shall be implemented quarterly on a prospective basis (1) for each Base Interest Rate Loan, on the first day of any Interest Period and (2) for each Reference Rate Loan, on the first day of the calendar month after the date of delivery by Borrower to Bank of the Financial Statements evidencing the need for an adjustment. The failure of Borrower to deliver to Bank any of the Financial Statements in accordance with the Credit Agreement shall, in addition to any other remedy provided for in the Credit Agreement, result in an increase in the Applicable Margin to the highest level set forth in this definition. If an Event of Default has occurred and is continuing at the time any reduction in the Applicable Margin is to be implemented, no reduction may occur until the first day of the calendar month following the date on which such Event of Default is cured or waived by Bank. View More

Applicable Margin. Means the percentage rate per annum which is applicable at such time with respect to the listed Loans and Advances as set forth below: Applicable Margin Additional Accrued Margin Period Revolver & Term Loans Revolver B Loans Revolver & Term Loans Revolver B Loans April 22, 2005 – April 30, 2005 1.00 % 0 % 1.00 % 0 % May 1, 2005 – May 31, 2005 1.00 % 0 % 1.50 % 0 % June 1, 2005 – June 30, 2005 1.00 % 0 % 2.00 % 0 % July 1, 2005 – July 31, 2005 1.00 % 0 % 2.50 % 0 % August 1, 2005 – August 31,... 2005 1.00 % 0 % 3.00 % 0 % September 1, 2005 – September 30, 2005 1.00 % 0 % 3.50 % 0 % October 1, 2005 – October 31, 2005 1.00 % 0 % 4.00 % 0 % November 1, 2005 – November 30, 2005 1.00 % 0 % 4.50 % 0 % December 1, 2005 – December 31, 2005 1.00 % 0 % 5.00 % 0 % January 1, 2006 – January 31, 2006 3.50 % 3.50 % 3.50 % 3.50 % February 1, 2006 – February 28, 2006 4.75 % 4.75 % 2.50 % 2.50 % March 1, 2006 – March 31, 2006 6.00 % 6.00 % 1.50 % 1.50 % April 1, 2006 and thereafter 8.25 % 8.25 % 0.00 % 0.00 % View More

Applicable Margin. Means, at all times from and after the First Amendment Effective Date, seven percent (7.0%) per annum.

Applicable Margin. Means a rate per annum equal to the "Applicable Margin" as determined from time to time pursuant to the Pricing Grid.

Applicable Margin. 325 basis points (3.25%)

Applicable Margin. Shall mean, at any time, as to the interest rate for Prime Rate Loans, the interest rate for Prime Rate Fixed Asset Loans, the interest rate for Eurodollar Rate Loans, the interest rate for Eurodollar Rate Fixed Asset Loans, the interest rate for Prime Rate Equipment Purchase Loans, the interest rate for Eurodollar Rate Equipment Purchase Loans and the Letter of Credit Fee, the applicable percentage (on a per annum basis) set forth below indicated for the Monthly Average Excess Availability for... the immediately preceding month is at or within the amounts indicated for such percentage: Loans Based on Accounts and Inventory Loans Based on Fixed Asset Availability and Equipment Purchase Loans Tier Monthly Average Excess Availability Applicable Prime Rate Margin Applicable Eurodollar Margin Applicable Prime Rate Margin Applicable Eurodollar Margin L/C Rate 1. $20,000,000 or more .50 % 2.00 % 1.00 % 2.50 % 1.75 % 2. Greater than or equal to $10,000,000 and less than $20,000,000 .75 % 2.25 % 1.25 % 2.75 % 2.00 % 3. Less than $10,000,000 1.00 % 2.50 % 1.50 % 3.00 % 2.25 % provided, that, the Applicable Margin shall be calculated and established on the first day of each month (commencing on May 1, 2005) and shall remain in effect until adjusted thereafter at the beginning of the next month. View More