Common use of Applicable Margin Adjustment Clause in Contracts

Applicable Margin Adjustment. (a) On the second Banking Day following each date the Borrower delivers a compliance certificate to the Administrative Agent pursuant to Section 11.1(b)(i) which discloses a Leverage Ratio at a Level which differs from the Level then in effect, the Applicable Margin applicable to all Loans outstanding on the date any such change takes effect will be adjusted immediately, but without retroactive effect. (b) Notwithstanding the foregoing: (i) the Applicable Margin shall be Level 1 in Schedule J on and from the date of this Agreement until the conclusion of the first Fiscal Quarter following it; and (ii) if the Borrower fails to deliver a compliance certificate to the Administrative Agent by the date required to do so under Section 11.1(b)(i), the Leverage Ratio shall be deemed as from such date to be at Level IV until such failure is cured, at which time the Applicable Margin shall be determined in accordance with the table set forth in Schedule J, but without any adjustments having retroactive effect.

Applicable Margin Adjustment. (a) On the second Banking Day following each date the Borrower delivers a compliance certificate to the Administrative Agent pursuant to Section 11.1(b)(i11.1(b)(iii) which discloses a Leverage Ratio at a Level which differs from the Level then in effect, the Applicable Margin applicable to all Loans outstanding on the date any such change takes effect will be adjusted immediately, but without retroactive effect. (b) Notwithstanding the foregoing: (i) the Applicable Margin shall be Level 1 I in Schedule J on and from the date of this Agreement until the conclusion of the first Fiscal Quarter following it; and (ii) if the Borrower fails to deliver a compliance certificate to the Administrative Agent by the date required to do so under Section 11.1(b)(i11.1(b)(iii), the Leverage Ratio shall be deemed as from such date to be at Level IV until such failure is cured, at which time the Applicable Margin shall be determined in accordance with the table set forth in Schedule J, but without any adjustments having retroactive effect.

Applicable Margin Adjustment. (a) On the second Banking Day following each date the Borrower delivers a compliance certificate to the Administrative Agent pursuant to Section 11.1(b)(i‎11.1(b)(iii) which discloses a Leverage Ratio at a Level which differs from the Level then in effect, the Applicable Margin applicable to all Loans outstanding on the date any such change takes effect will be adjusted immediately, but without retroactive effect. (b) Notwithstanding the foregoing: (i) the Applicable Margin shall be Level 1 I in Schedule ‎Schedule J on and from the date of this Agreement until the conclusion of the first Fiscal Quarter following it; and (ii) if the Borrower fails to deliver a compliance certificate to the Administrative Agent by the date required to do so under Section 11.1(b)(i‎11.1(b)(iii), the Leverage Ratio shall be deemed as from such date to be at Level IV until such failure is cured, at which time the Applicable Margin shall be determined in accordance with the table set forth in Schedule ‎Schedule J, but without any adjustments having retroactive effect.