CALCULATION AND DURATION OF ADJUSTMENT. On each Interest Adjustment Date and during the Accrual Period commencing on such date, (a) the Applicable LIBOR Percentage shall be the percent per annum in Basis Points indicated in the definition of the term “Applicable LIBOR Percentage” corresponding to the Net Leverage Ratio as of the Interest Determination Date for such Interest Adjustment Date and (b) the Applicable Prime Rate Percentage shall be the percent per annum in Basis Points indicated in the definitions of the term “Applicable Prime Rate Percentage” corresponding to the Net Leverage Ratio as of the Interest Determination Date for such Interest Adjustment Date.
CALCULATION AND DURATION OF ADJUSTMENT. On each Margin Adjustment Date, the Applicable LIBOR Margin shall be the Applicable LIBOR Margin set forth in the definition of "Applicable LIBOR Margin" which corresponds to the Borrower's Consolidated Total Funded Debt to EBITDA Ratio as of the Determination Date applicable to such Margin Adjustment Date. The Applicable LIBOR Margin effective as of a particular Margin Adjustment Date shall remain effective only until the next succeeding Margin Adjustment Date at which time the Applicable LIBOR Margin shall be recalculated pursuant to this Subsection (b); provided, however, that: (I) if at any time an Event of Default shall have occurred that has not been waived in writing by all of the Banks, or if the Borrower shall not have delivered as of any Margin Adjustment Date the financial statements required to have been delivered under Sections 0 and 0 of this Agreement, then, at the election of the Required Banks, the Applicable LIBOR shall immediately adjust to be eight-tenths of one percent (0.80%) per annum and (II) if an Event of Default shall have occurred which has not been waived in writing by the Required Banks, the interest rate shall, upon the request
CALCULATION AND DURATION OF ADJUSTMENT. On each Margin Adjustment Date, the Applicable Margin for each Type of Loan and Letters of Credit shall be the Applicable Margin, in each case, as set forth in the definition of such term set forth in this Agreement, which corresponds to the ratio of EBIT to Interest Expense of the Borrower as of the Margin Determination Date applicable to such Margin Adjustment Date. The Applicable Margin effective as of a particular Margin Adjustment Date shall remain effective only until the next succeeding Margin Adjustment Date at which time the Applicable Margin shall be recalculated pursuant to this Section 2.10(b); provided, that:
CALCULATION AND DURATION OF ADJUSTMENT. On each Interest Adjustment Date and during the Accrual Period commencing on such date, the Applicable LIBOR Percentage shall be the percent per annum in Basis Points indicated in the definitions of the term "Applicable LIBOR Percentage" corresponding to the Net Leverage Ratio as of the Interest Determination Date for such Interest Adjustment Date.
CALCULATION AND DURATION OF ADJUSTMENT. On each Interest Adjustment Date and during the Accrual Period commencing on such date, (a) the Applicable Term SOFR Rate Percentage shall be the percent per annum in Basis Points indicated in the definition of the term “Applicable Term SOFR Rate Percentage” corresponding to the Net Leverage Ratio as of the Interest Determination Date for such Interest Adjustment Date and (b) the Applicable Base Rate Percentage shall be the percent per annum in Basis Points indicated in the definitions of the term “Applicable Base Rate Percentage” corresponding to the Net Leverage Ratio as of the Interest Determination Date for such Interest Adjustment Date.
CALCULATION AND DURATION OF ADJUSTMENT. On each Interest Adjustment Date and during the Accrual Period commencing on such date, (a) the Applicable LIBORTerm SOFR Rate Percentage shall be the percent per annum in Basis Points indicated in the definition of the term “Applicable LIBORTerm SOFR Rate Percentage” corresponding to the Net Leverage Ratio as of the Interest Determination Date for such Interest Adjustment Date and (b) the Applicable Prime Rate Percentage shall be the percent per annum in Basis Points indicated in the definitions of the term “Applicable - 43 - 1095144433\6\AMERICAS Prime Rate Percentage” corresponding to the Net Leverage Ratio as of the Interest Determination Date for such Interest Adjustment Date.
CALCULATION AND DURATION OF ADJUSTMENT. On each Margin Adjustment Date, the Applicable Revolving Credit Margin shall be the Applicable Revolving Credit Margin set forth in the definition of "Applicable Revolving Credit Margin" for Alternate Base Rate Advances or the LIBOR Rate Advances, as the case may be, and corresponds to the Borrower's Fixed Charge Coverage Ratio as of the Determination Date applicable to such Margin Adjustment Date. The Applicable Revolving Credit Margin effective as of a particular Margin Adjustment Date shall remain effective only until the next succeeding Margin Adjustment Date at which time the Applicable Revolving Credit Margin shall be recalculated pursuant to this Subsection (b); PROVIDED, HOWEVER, that:
CALCULATION AND DURATION OF ADJUSTMENT. On each Interest Adjustment Date the Applicable LIBOR Percentage and the Applicable Prime Rate Percentage shall be the percent per annum in Basis Points indicated in the definitions of the terms "Applicable LIBOR Percentage" and "Applicable Prime Rate Percentage" corresponding to the Borrower's Total Leverage Ratio as of the Interest Determination Date for such Interest Adjustment Date. Notwithstanding anything to the contrary contained in the foregoing, upon and during the continuance of an Event of Default, but without waiving such Event of Default or limiting any right or remedy of the Banks or the Agent in respect thereof, (A) the Applicable LIBOR Percentage shall immediately revert to Two Hundred Seventy-five (275) Basis Points if a Qualifying Sub-Debt Issuance has not occurred and Two Hundred Fifty (250) Basis Points if a Qualifying Sub-Debt Issuance has occurred, and (B) the Applicable Prime Rate Percentage shall immediately revert to One Hundred Seventy-five (175) Basis Points.
CALCULATION AND DURATION OF ADJUSTMENT. On each Interest Adjustment Date the Applicable Loan Percentage shall be the Applicable Loan Percentage indicated in the definition of the term "Applicable Loan Percentage" corresponding to Shiloh's Consolidated Ratio of Funded Debt to EBITDA as of the Determination Date applicable thereto. Any such adjustment of the Applicable Loan Percentage shall cease to be effective commencing on the earliest of (x) the next Interest Adjustment Date, (y) the Banking Day following the day on which the financial statements required to be delivered under Section 8.1(a) or 8.1(b), as the case may be, for the period ending as of the last day of the Fiscal Quarter or Fiscal Year immediately preceding the date upon which the then Applicable Loan Percentage shall cease to be effective or (z) the date upon which an Event of Default shall occur. The Applicable Loan Percentage effective from such earlier date and from time to time thereafter shall be the Applicable Loan Percentage as may be applicable at such time pursuant to this Section 3.5(b); provided, however, that (A) if an Event of Default (other than an Event of Default under Section 10.1) shall occur, the Applicable Loan Percentage shall be 2.0% per annum in excess of the rate per annum required to be paid on such Loans immediately prior to the date on which such Event of Default shall have occurred and (B) if an Event of Default under Section 10.1 shall occur, the interest rate shall be the interest rate in effect pursuant to Section 3.5(c).
CALCULATION AND DURATION OF ADJUSTMENT. On each Margin Adjustment Date, the Applicable Margin shall be the Applicable Margin set forth in the definition of "Applicable Margin" for Alternate Base Rate Loans or the LIBOR Rate Loans, as the case may be, comprising Revolving Credit Borrowings
