Applicable Pricing Grid the pricing grid set forth below: Consolidated Leverage Ratio Applicable Margin for Eurodollar Loans Applicable Margin for ABR Loans Greater than or equal to 3.0 to 1.0 2.00% 1.00% Less than 3.0 to 1.0 1.75% 0.75% For the purposes of the Applicable Pricing Grid, the Consolidated Leverage Ratio shall be calculated as of the last day of each fiscal quarter and changes in the Applicable Margin resulting from changes in the Consolidated Leverage Ratio shall become effective on the date (the “Adjustment Date”) that is three Business Days after the date on which financial statements are delivered to the Lenders pursuant to Section 6.1 with respect to such fiscal quarter (or the fiscal year ending with such fiscal quarter, as applicable) and shall remain in effect until the next change to be effected pursuant to this paragraph. If any financial statements referred to above are not delivered within the time periods specified in Section 6.1, then, until the date that is three Business Days after the date on which such financial statements are delivered, the highest rate set forth in each column of the Applicable Pricing Grid shall apply. In addition, at all times while an Event of Default shall have occurred and be continuing, the highest rate set forth in each column of the Applicable Pricing Grid shall apply.
Applicable Pricing Grid with respect to Revolving Loans and Swingline Loans, the table set forth below: Consolidated First Lien Net Leverage Ratio Applicable Margin for Term SOFR Loans Applicable Margin for ABR Loans > 1.25:1.00 2.50% 1.50% ≤ 1.25:1.00 and > 1.00:1.00 2.25% 1.25% ≤ 1.00:1.00 2.00% 1.00% For the purposes of the Applicable Pricing Grid, changes in the Applicable Margin resulting from changes in the Consolidated First Lien Net Leverage Ratio shall become effective on the date (the “Adjustment Date”) that is three Business Days after the date on which financial statements are delivered to the Administrative Agent pursuant to Section 6.1 and shall remain in effect until the next change to be effected pursuant to this paragraph. If any financial statements referred to above are not delivered within the time periods specified in Section 6.1, then, until the date that is three Business Days after the date on which such financial statements are delivered, the highest rate set forth in each column of the Applicable Pricing Grid shall apply. In addition, at all times while an Event of Default shall have occurred and be continuing then, at the option of the Required Revolving Lenders, the highest rate set forth in each column of the Applicable Pricing Grid shall apply. Notwithstanding anything to the contrary contained above in this definition or elsewhere in this Agreement, if it is subsequently determined that the Consolidated First Lien Net Leverage Ratio set forth in any Compliance Certificate delivered to the Administrative Agent is inaccurate for any reason (but only to the extent no Responsible Officer of the Parent Borrower or any of its Subsidiaries had actual knowledge at the time of delivery thereof) and the result thereof is that the Revolving Lenders received interest for any period based on an Applicable Margin that is less than that which would have been applicable had the Consolidated First Lien Net Leverage Ratio been accurately determined, then, for all purposes of this Agreement, the Applicable Margin for any day occurring within the period covered by such Compliance Certificate shall retroactively be deemed to be the relevant percentage as based upon the accurately determined Consolidated First Lien Net Leverage Ratio for such period, and any shortfall in the interest theretofore paid by the Borrowers for the relevant period as a result of the inaccurate Consolidated First Lien Net Leverage Ratio shall be deemed to be (and shall be) due and payable within...
Applicable Pricing Grid means the table set forth on Schedule 1.1C.
Examples of Applicable Pricing Grid in a sentence
If any financial statements referred to above are not delivered within the time periods specified in Section 6.1, then, until the date that is three Business Days after the date on which such financial statements are delivered, the highest rate set forth in each column of the Applicable Pricing Grid shall apply.
If any Compliance Certificate referred to above is not delivered within the time period specified in Section 5.01(d), then, until the date that is three Business Days after the date on which such Compliance Certificate is delivered, the highest rate set forth in each column of the Applicable Pricing Grid shall apply.
Each determination of the Total Net Leverage Ratio pursuant to the Applicable Pricing Grid shall be made in a manner consistent with the determination thereof pursuant to Section 6.13.
If any financial statements are not delivered within the time periods specified in Section 6.1, then, until the date that is three Business Days after the date on which such financial statements are delivered, the highest rate set forth in each column of the Applicable Pricing Grid shall apply.
Each determination of the Total Leverage Ratio pursuant to the Applicable Pricing Grid shall be made in a manner consistent with the determination thereof pursuant to Section 7.1.
More Definitions of Applicable Pricing Grid
Applicable Pricing Grid the table set forth below: Level Consolidated Leverage Ratio Applicable Margin for Eurodollar Loans that are Revolving Loans, Swingline Loans and Tranche A Term Loans Applicable Margin for ABR Loans that are Revolving Loans, Swingline Loans and Tranche A Term Loans Commitment Fee Rate I <3.00 to 1.00 1.50 % 0.50 % 0.25 % II <3.25 to 1.00 but ³ 3.00 to 1.00 1.75 % 0.75 % 0.30 % III <3.75 to 1.00 but ³ 3.25 to 1.00 2.00 % 1.00 % 0.35 % IV ³ 3.75 to 1.00 2.25 % 1.25 % 0.40 % Changes in the Applicable Margin resulting from changes in the Consolidated Leverage Ratio shall become effective on the date (the “Adjustment Date”) that is three Business Days after the date on which financial statements are delivered to the Administrative Agent pursuant to Section 6.1 and shall remain in effect until the next change to be effected pursuant to this paragraph. If any financial statements referred to above are not delivered within the time periods specified in Section 6.1, then, until the date that is three Business Days after the date on which such financial statements are delivered, the highest rate set forth in each column of the Applicable Pricing Grid shall apply. In addition, at all times while an Event of Default under Section 8(a) or Section 8(f) shall have occurred and be continuing, the highest rate set forth in each column of the Applicable Pricing Grid shall apply. Each determination of the Consolidated Leverage Ratio pursuant to the Applicable Pricing Grid shall be made in a manner consistent with the determination thereof pursuant to Section 7.1. In the event that any financial statement or Compliance Certificate delivered pursuant to Section 6.1 or 6.2(b), respectively, is shown to be inaccurate, and such inaccuracy, if corrected, would have led to a higher Applicable Margin for any period (an “Applicable Period”) than the Applicable Margin applied for such Applicable Period, then (i) the Borrower shall immediately deliver to the Administrative Agent a correct Compliance Certificate for such Applicable Period, (ii) the Applicable Margin shall be determined by reference to the corrected Compliance Certificate (but in no event shall the Administrative Agent or the Lenders owe any amounts to Borrower), and (iii) the Borrower shall immediately pay to the Administrative Agent the additional interest owing as a result of such increased Applicable Margin for such Applicable Period, which payment shall be promptly applied by the Administrative Agent in accordance w...
Applicable Pricing Grid with respect to Initial Term Loans, 2021 Delayed Draw Term Loans, 2021 Delayed Draw Term Commitments, Revolving Loans, Swingline Loans and the Commitment Fee Rate, the table set forth below: Level Consolidated Total Leverage Ratio Type of Loan Commitment Fee Rate ABR Eurocurrency Level I < 3.00:1.00 0.25% 1.25% 0.175% Level II ≥ 3.00:1.00 but < 3.50:1.00 0.375% 1.375% 0.20% Level III ≥ 3.50:1.00 but < 4.00:1.00 0.625% 1.625% 0.25% Level IV ≥ 4.00:1.00 but < 4.50:1.00 0.875% 1.875% 0.30% Level V ≥ 4.50:1.00 1.00% 2.00% 0.35% For the purposes of the Applicable Pricing Grid, changes in the Applicable Margin resulting from changes in the Consolidated Total Leverage Ratio shall become effective on the date (the “Adjustment Date”) that is three Business Days after the date on which financial statements are delivered to the Administrative Agent pursuant to Section 6.1 commencing with the fiscal period ending December 31, 2019 and shall remain in effect until the next change to be effected pursuant to this paragraph. If any financial statements referred to above are not delivered within the time periods specified in Section 6.1, then, until the date that is three Business Days after the date on which such financial statements are delivered, the highest rate set forth in each column of the Applicable Pricing Grid shall apply. Each determination of the Consolidated Total Leverage Ratio pursuant to the Applicable Pricing Grid shall be made in a manner consistent with the determination thereof pursuant to Section 7.1(b).
Applicable Pricing Grid means the table set forth below:
Applicable Pricing Grid the table set forth below: Level Corporate Rating Bankers’ Acceptances/ Eurodollar Loan Applicable Margin/ EURIBOR Loan Applicable Margin US Base Rate Loan / ABR Loan / Canadian Prime Rate Loan Applicable Margin Facility Fee I Corporate Ratings of at least BBB+ by S&P/Baa1 by Xxxxx’x 0.975 % 0.0 % 0.15 % II Corporate Ratings of at least BBB by S&P/Baa2 by Xxxxx’x and not Level I 1.075 % 0.075 % 0.175 % III Corporate Ratings of at least BBB- by S&P/Baa3 by Xxxxx’x and not Level I or II 1.275 % 0.275 % 0.225 % IV Corporate Ratings of at least BB+ by S&P/Ba1 by Xxxxx’x and not Level I, II or III 1.475 % 0.475 % 0.275 % V Corporate Ratings below Level IV 1.675 % 0.675 % 0.325 % “Corporate Rating” is the public, corporate credit rating of the Parent Borrower or, if no such rating is available, the rating for the senior, unsecured, long-term indebtedness for borrowed money of the Parent Borrower. For purposes of the foregoing, (i) if either Xxxxx’x or S&P shall not have in effect a Corporate Rating (other than by reason of the circumstances referred to in the last sentence of this definition), then such rating agency shall be deemed to have established a rating in Level V; (ii) if the Corporate Ratings established or deemed to have been established by Xxxxx’x and S&P shall fall within different Levels, the pricing shall be based on the higher of the two ratings unless one of the two ratings is two or more Levels lower than the other, in which case the pricing shall be determined by reference to the Level next below that of the higher of the two ratings; and (iii) if the Corporate Rating established or deemed to have been established by Xxxxx’x or S&P shall be changed (other than as a result of a change in the rating system of Xxxxx’x or S&P), such change shall be effective as of the date on which it is first announced by the applicable rating agency, irrespective of when notice of such change shall have been furnished by the Borrowers to the Administrative Agent and the Lenders. Each change in pricing 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. If the rating system of Xxxxx’x or S&P shall change, or if either such rating agency shall cease to be in the business of assigning corporate ratings, the Borrowers and the Lenders shall negotiate in good faith to amend this pricing grid to reflect such changed rating system or the unavailability of s...
Applicable Pricing Grid means the table set forth below: Level Xxxxx’x/S&P/Xxxxx Ratings Commitment Fee Rate Applicable Margin for Term Benchmark Revolving Loans Applicable Margin for ABR Revolving Loans Letters of Credit I Baa1/BBB+/BBB+ or better 12.50 bps 1.25% 0.25% 1.125% II Baa2/BBB/BBB 15.00 bps 1.50% 0.50% 1.25% III Baa3/BBB-/BBB- 20.00 bps 2.00% 1.00% 1.50% IV Ba1/BB+/BB+ 25.00 bps 2.25% 1.25% 2.00% V Ba2/BB/BB 30.00 bps 2.50% 1.50% 2.25% VI Ba3/BB-/BB- or worse 40.0 bps 2.75% 1.75% 2.50% For the purposes of the foregoing, (a) if the Borrower shall not maintain a public Rating from at least two (2) Rating Agencies, the Rating shall be deemed to be (i) Level VI, if the Borrower has no public Rating and (ii) one (1) level lower than the Borrower’s public Rating, if the Borrower has one (1) public Rating, (b) if the Borrower shall maintain a public Rating from only two (2) Rating Agencies, then the higher of such Ratings shall apply, unless there is a split in Ratings of more than one (1) ratings level, in which case the Rating that is one (1) level lower than the higher of the Borrower’s two (2) Ratings shall apply, (c) if the Borrower shall maintain a public Rating from all three (3) Rating Agencies, (i) if two (2) Ratings are equivalent and the third Rating is lower, the higher Rating shall apply, (ii) if two (2) Ratings are equivalent and the third Rating is higher, the lower Rating shall apply and (iii) if no Ratings are equivalent, the Rating that is neither the highest nor the lowest Rating shall apply; provided that if the Ratings established by any Rating Agency shall be changed (other than as a result of a change in the rating system of such Rating Agency), such change shall be effective as of the date on which it is first announced by the applicable Rating Agency. Each change in the Applicable Margin and/or Commitment Fee 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.
Applicable Pricing Grid the table set forth below: Total Leverage Ratio Applicable Margin for Eurodollar Loans Applicable Margin for ABR Loans Commitment Fee Rate Level I Greater than 4.00 to 1.00 2.25% 1.25% 0.35% Level II Greater than 3.25 to 1.00 but equal to or less than 4.00 to 1.00 2.00% 1.00% 0.30% Level III Greater than 2.50 to 1.00 but equal to or less than 3.25 to 1.00 1.75% 0.75% 0.25% Level IV Equal to or less than 2.50 to 1.00 1.50% 0.50% 0.20% For the purposes of the Applicable Pricing Grid, changes in the Applicable Margin resulting from changes in the Total Leverage Ratio shall become effective on each Adjustment Date and shall remain in effect until the next change to be effected pursuant to this paragraph; provided that (a) no adjustment to a level providing a lower pricing shall be effected while an Event of Default is in existence and (b) the highest rate set forth in each column of the Applicable Pricing Grid shall apply at all times while an Event of Default under clause (a) or (f) of Section 8 shall have occurred and be continuing. If any financial statements referred to above are not delivered within the time periods specified in Section 6.1, then, until the date that is three Business Days after the date on which such financial statements are delivered, the highest rate set forth in each column of the Applicable Pricing Grid shall apply. Each determination of the Total Leverage Ratio pursuant to the Applicable Pricing Grid shall be made in a manner consistent with the determination thereof pursuant to Section 7.1.
Applicable Pricing Grid means, (i) in the case of any Loan (other than a CDI Loan) the table set forth on Schedule 1.1C and (ii) in the case of any CDI Loan, the table set forth in Exhibit 3.2 in the applicable Brazilian Bank Certificate.