Applicable Rate. The definition of “Applicable Rate” set forth in Section 14 is hereby amended by adding to the end of Subsection (b) of the definition after the word “Rate” the following provision: “; provided, however, that if the payee is a Defaulting Party for purposes of Section 6(e), then the rate shall be the Non-default Rate.”
Applicable Rate. The Applicable Rate shall be the following amounts per annum, based upon the ratio of Total Funded Debt to Adjusted EBITDA (as defined in the “Covenants” section of this Agreement, the "Financial Test"), as set forth in the most recent compliance certificate (or, if no compliance certificate is required, the Borrower’s most recent financial statements) received by the Bank as required in the Covenants section. Until the Bank receives the first compliance certificate or financial statement, the Applicable Rate shall be the amounts indicated for pricing level 2 set forth below: Pricing Level Total Funded Debt to Adjusted EBITDA Daily Floating BSBY + Unused Commitment Fee 1 ≤1.00x 1.00% 0.125% 2 >1.00x ≤1.75x 1.25% 0.15% 3 >1.75x ≤2.5x 1.50% 0.175% 4 ˃2.5x 1.75% 0.20% The Applicable Rate shall be in effect from the date the most recent compliance certificate or financial statement is received by the Bank until the banking day following the date the next compliance certificate or financial statement is received; provided, however, that if the Borrower fails to timely deliver the next compliance certificate or financial statement, the Applicable Rate from the date such compliance certificate or financial statement was due until the date such compliance certificate or financial statement is received by the Bank shall be the highest pricing level set forth above. 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 Bank determines that (i) the Financial Test as calculated by the Borrower as of any applicable date was inaccurate and (ii) a proper calculation of the Financial Test would have resulted in higher pricing for such period, the Borrower shall immediately and retroactively be obligated to pay to the 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. The Bank’s acceptance of payment of such amounts will not constitute a waiver of any default under this Agreement. The Borrower’s obligations under this paragraph shall survive the termination of this Agreement and the repayment of all other obligations.
Applicable Rate. The Applicable Rate (using a 365-day year) shall be determined in accordance with the following chart for each Settlement Currency: Settlement Currency Applicable Rate U.S. Dollars ***** ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission.
Applicable Rate. The definition of “Applicable Rate” in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows:
Applicable Rate. Interest shall accrue on the outstanding principal balance at the end of day of each Loan at the Applicable Rate in effect for such Loan on such day.
Applicable Rate. 11 Assets..................................................................... 2
Applicable Rate. The Applicable Rate for each Series [__] Incremental Term Loan shall mean, as of any date of determination, [___]% per annum.
Applicable Rate. For the avoidance of doubt, the Applicable Rate for ABR Loans or for SOFR Loans, as applicable, for the 2024 Incremental Term Loans shall mean, as of any date of determination, the applicable percentage per annum with respect to any Initial Term Loan as set forth in the definition of “Applicable Rate” in the Amended Credit Agreement. All Interest Periods applicable to Initial Term Loans shall continue in effect after the 2024 Incremental Term Loan Funding Date. The 2024 Incremental Term Loans shall be initially incurred pursuant to a single Borrowing of SOFR Loans, with such Borrowing to be subject to (x) Interest Periods which commence on the 2024 Incremental Term Loan Funding Date and end on the last day of the Interest Period applicable to the Initial Term Loans and (y) the Adjusted Term SOFR Rate applicable to the Initial Term Loans. From and after the 2024 Incremental Term Loan Funding Date to the first Interest Payment Date to occur after the 2024 Incremental Term Loan Funding Date, the Borrowers shall make to the Administrative Agent on such first Interest Payment Date (and the Administrative Agent shall distribute to the applicable Lenders in accordance with the Amended Credit Agreement) all payments in respect of interest on the 2024 Incremental Term Loans to the 2024 Incremental Term Lenders for amounts which have accrued on the 2024 Incremental Term Loans from the 2024 Incremental Term Loan Funding Date to but excluding such Interest Payment Date.
Applicable Rate. The term "Applicable Rate" shall mean:
Applicable Rate. The Applicable Rate (using a 365-day year) shall be determined in accordance with the following chart for each Settlement Currency: Settlement Currency Applicable Rate U.S. Dollars ***** Association Obligor – Any Person (other than Carrier) (i) directly liable (a “Direct Obligor”) for obligations owed to any Card Association on account of Sales Records ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission. submitted to a Card Association hereunder (for example, Chargebacks and Card Association fines and assessments), or (ii) indirectly liable to any Card Association on account of Sales Records submitted to a Card Association hereunder through an indemnity given to a Direct Obligor or a guarantee of payment of any such indemnity obligation to a Direct Obligor (an “Indirect Obligation”).
