Adjustments to Applicable Margin. From the Closing Date until the financial statements and Officer’s Compliance Certificate for the period ending March 31, 2016 are delivered to the Agent pursuant to Subsection 6.1.3 (Delivery of Officer’s Compliance Certificates), the Applicable Margin for Base Rate Loans shall be 0.25% and the Applicable Margin for LIBOR Loans shall be 2.50%. Thereafter, the Applicable Margin shall be adjusted three Business Days after the delivery of the Officer’s Compliance Certificate delivered pursuant to Subsection 6.1.3 (Delivery of Officer’s Compliance Certificates); provided, however, at any time that the applicable Borrower shall have not delivered such certificate at the time specified in Subsection 6.1.3 (Delivery of Officer’s Compliance Certificates), until such time as such certificate is so delivered to the Agent, the Applicable Margin shall be the maximum amount for the applicable type of Loan set forth above and, provided further, if the applicable Borrower incorrectly reports or calculates the Leverage Ratio, the Agent, in its sole discretion, may change interest retroactively based on the Applicable Margin that should have been in effect for such period that the Leverage Ratio was incorrectly reported or calculated. The foregoing shall not limit any rights of the Lenders to receipt of the Default Rate, if applicable.
Adjustments to Applicable Margin. From the Closing Date until five (5) Business Days after the financial statements and Officer’s Compliance Certificate for the period ending September 26, 2013 are delivered to the Administrative Agent pursuant to Subsection 6.1.3 (Delivery of Officer’s Compliance Certificates), the Applicable Margins shall be 0.000% for Base Rate Loans and 1.625% for LIBOR Loans. Thereafter, the Applicable Margin shall be adjusted five (5) Business Days after the delivery of each Officer’s Compliance Certificate most recently delivered pursuant to Subsection 6.1.3 (Delivery of Officer’s Compliance Certificates); provided, however, at any time that the Borrower shall have not delivered such certificate at the time specified in Subsection 6.1.3 (Delivery of Officer’s Compliance Certificates), until such time as such certificate is so delivered to the Administrative Agent, the Applicable Margin shall be the maximum amount for the applicable type of Loan set forth above and, provided further, if the Borrower incorrectly reports or calculates the Leverage Ratio, the Administrative Agent or the Majority Lenders, in its or their sole discretion, may change interest retroactively based on the Applicable Margin that should have been in effect for such period that the Leverage Ratio was incorrectly reported or calculated. The foregoing shall not limit any rights of the Lenders to receipt of the Default Rate, if applicable. Notwithstanding the foregoing, if, as a result of any restatement of or other adjustment to the financial statements of the Borrower or for any other reason, the Borrower or the Majority Lenders determine that (i) the Total Leverage Ratio as calculated by the Borrower as of any applicable date was inaccurate and (ii) an accurate calculation of the Total Leverage Ratio would have resulted in higher pricing for such period, the Borrower shall immediately and retroactively be obligated to pay to the Administrative Agent for the account of the applicable Lenders, promptly on demand by the Administrative Agent (or, after the occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under Debtor Relief Laws, automatically and without further action by the Administrative Agent, any Lender or the Issuing Bank), an amount equal to the excess of the amount of interest and fees that should have been paid for such period over the amount of interest and fees actually paid for such period. This paragraph shall not limit the rights of the Admin...
Adjustments to Applicable Margin. Adjustments, if any, in the Applicable Margin shall be made by the Administrative Agent five (5) Business Days after receipt by the Administrative Agent of (i) quarterly financial statements for AHL and its Subsidiaries and the accompanying Officer's Compliance Certificate setting forth the ratio of Consolidated Total Indebtedness to Consolidated Pro Forma Adjusted EBITDA for AHL and its Subsidiaries as of the most recent fiscal quarter end (calculated as provided in subsection (d) above), and (ii) each officer's certificate setting forth the ratio of Consolidated Total Indebtedness to Consolidated Pro Forma Adjusted EBITDA for AHL and its Subsidiaries calculated on a pro forma basis required to be delivered pursuant to Section 9.4(g)(v). Subject to Section 3.1(f), in the event AHL fails to deliver such financial statements and certificate within the time required by Section 6.2 or Section 9.4(g)(v), as applicable, the Applicable Margin shall be the highest Applicable Margin set forth above until five (5) Business Days after the delivery of such financial statements and certificate.
Adjustments to Applicable Margin. The Reference Rate Option, the Eurodollar Rate Option, the unused line fee, and the standby and trade Letter of Credit fees shall be adjusted as to the Applicable Margin based on changes in the Interest Coverage Ratio. Such adjustments shall be made by the Agent without notice to Borrowers, based on such Ratio as of the end of a calendar quarter. The Applicable Margin shall be reduced to a specified level only in the event that (A) no Potential Default or Event of Default exists as of the date of determination and (B) the required Interest Coverage Ratio has been satisfied. All adjustments shall be effective as follows:
Adjustments to Applicable Margin. The Applicable Margin shall be adjusted five (5) Business Days after the delivery of the Officer's Compliance Certificate delivered pursuant to Subsection 5.1.3 below (Delivery of Officers' Compliance Certificates), provided, however, at any time that the Borrower shall have not delivered such compliance certificate at the time specified in said Subsection 5.1.3, until such time as the certificate is so delivered to the Agent, the Applicable Margin shall be the maximum amount for the applicable type of Loan set forth above. The foregoing shall not limit any rights of the Lenders to receipt of the Default Rate, if applicable.
Adjustments to Applicable Margin. 10 -i- TABLE OF CONTENTS (continued)
Adjustments to Applicable Margin. The applicable Margin shall be reset quarterly for the next succeeding fiscal quarter, based upon the Borrower's ratio of Total Liabilities to Effective Net Worth, as reflected in the Borrower's quarterly and year-end financial statements, effective, in each case, as of the date such financial statements are required to be delivered hereunder.
Adjustments to Applicable Margin. In the event that any financial statement or Compliance Certificate delivered pursuant to Section 5.1(c) is shown to be inaccurate (regardless of whether this Agreement or the Commitments are in effect when such inaccuracy is discovered), and such inaccuracy, if corrected, would have led to the application of a higher Applicable Margin for any period (an “Applicable Period”) than the Applicable Margin applied for such Applicable Period, and only in such case, then the Borrower shall promptly (i) deliver to the Administrative Agent a corrected Compliance Certificate for such Applicable Period, (ii) determine the Applicable Margin for such Applicable Period based upon the corrected Compliance Certificate, and (iii) promptly pay to the Administrative Agent the accrued additional interest and fees owing as a result of such increased Applicable Margin for such Applicable Period; provided that if, as a result of any restatement or other event a proper calculation of the Applicable Margin would have resulted in higher pricing for one or more periods and lower pricing for one or more other periods (due to the shifting of income or expenses from one period to another period or any similar reason), then the amount payable by the Borrower pursuant to clause (iii) above shall be based upon the excess, if any, of the amount of interest and fees that should have been paid for all applicable periods over the amount of interest and fees paid for all such periods.
Adjustments to Applicable Margin. Adjustments, if any, in the Applicable Margin shall be made by the Administrative Agent ten (10) Business Days after receipt by the Administrative Agent of quarterly financial statements for Holdings and its Subsidiaries and the accompanying Officer's Compliance Certificate setting forth the Leverage Ratio for Holdings and its Subsidiaries as of the most recent fiscal quarter end. In the event Holdings fails to deliver such financial statements and certificate within the time required by Sections 6.1(a) or (b) and Section 6.2 hereof, the Applicable Margin shall be the highest Applicable Margin set forth above until five (5) Business Days after the delivery of such financial statements and certificate.
Adjustments to Applicable Margin. The Prime Rate Option, the -------------------------------- Eurodollar Rate Option, the unused line fee, and the standby and trade Letter of Credit fees shall be adjusted as to the Applicable Margin based on changes in ratio set forth on Annex A hereto. Such adjustments shall be made by Agent ------- without notice to Borrower, based on such ratio as of the end of a Fiscal Quarter. The Applicable Margin shall be reduced to a specified level only in the ----------- event that (A) no Potential Default or Event of Default exists as of the date of ---------- determination and (B) the required ratio set forth in Annex A has been ------- satisfied. All adjustments shall be effective as follows:
