A grid used to determine the applicable margin of a loan as determined by a performance measurement such as the credit rating of the borrower (or the loans) or the borrower's leverage ratio at a given point in time. The effect is that the interest rate charged by the lenders on the loans (referred to as pricing) will decrease if the performance measurement improves. Pricing grids may also be used to determine commitment fees for revolving loans. For more information on pricing grids, see Practice Note, Loan Agreement: Borrowing Mechanics.