Common use of Change in Rates Due to Change in Ratio Clause in Contracts

Change in Rates Due to Change in Ratio. The effective date on which any change in interest rates on Canadian Prime Rate Loans, U.S. Base Rate Loans and LIBOR Based Loans, standby fees, stamping fees or Issuance Fees occurs will be the earlier of: (i) the third Banking Day following the receipt by the Agent of the Compliance Certificate which evidences a change in the Consolidated Senior Debt to EBITDA Ratio: and (ii) the date such Compliance Certificate is due in accordance with Section 14.1(g). If the Borrower fails to deliver a Compliance Certificate in accordance with Section 14.1(g), then the applicable margins indicated in the table set forth in Section 4.2(i) shall be deemed to be at level 5 in such table until such time as the applicable Compliance Certificate is delivered (and notwithstanding the Event of Default which arises from such failure to so deliver such Compliance Certificate). Any increase or decrease in the interest rates on LIBOR Based Loans or Issuance Fees on Letters of Credit outstanding on the effective date of a change in such ratio will apply proportionately to each such LIBOR Based Loan or Letter of Credit outstanding on the basis of the number of days remaining in the term to maturity thereof. The stamping fees already paid by the Borrower in respect of any Bankers' Acceptance having an unexpired maturity date in excess of 45 days on the effective date referred to above will be adjusted to reflect the applicable stamping fee for the remaining term of the Bankers' Acceptance, and the Borrower will pay to the Agent for the benefit of the Lenders any resulting increase in stamping fees in respect of such outstanding Bankers' Acceptances, and the Lenders will pay to the Agent for the benefit of the Borrower any resulting decrease in stamping fees in respect of such outstanding Bankers' Acceptances, in each case within 3 Banking Days of the effective date of such change.

Change in Rates Due to Change in Ratio. The effective date on which any change in interest rates on Canadian Prime Rate Loans, U.S. Base Rate Loans and LIBOR Based Loans, standby fees, stamping fees or Issuance Fees occurs will be the earlier of: (i) the third Banking Day following the receipt by the Agent of the Compliance Certificate which evidences a change in the Consolidated Senior Debt to EBITDA Ratio: and (ii) the date such Compliance Certificate is due in accordance with Section 14.1(g). If the Borrower fails to deliver a Compliance Certificate in accordance with Section 14.1(g), then the applicable margins indicated in the table set forth in Section 4.2(i) Pricing Table shall be deemed to be at level Level 5 in such table the Pricing Table until such time as the applicable Compliance Certificate is delivered (and notwithstanding the Event of Default which arises from such failure to so deliver such Compliance Certificate). Any increase or decrease in the interest rates on LIBOR Based Loans or Issuance Fees on Letters of Credit outstanding on the effective date of a change in such ratio will apply proportionately to each such LIBOR Based Loan or Letter of Credit outstanding on the basis of the number of days remaining in the term to maturity thereof. The stamping fees already paid by the Borrower in respect of any Bankers' ’ Acceptance having an unexpired maturity date in excess of 45 days on the effective date referred to above will be adjusted to reflect the applicable stamping fee for the remaining term of the Bankers' ’ Acceptance, and the Borrower will pay to the Agent for the benefit of the Lenders any resulting increase in stamping fees in respect of such outstanding Bankers' ’ Acceptances, and the Lenders will pay to the Agent for the benefit of the Borrower any resulting decrease in stamping fees in respect of such outstanding Bankers' ’ Acceptances, in each case within 3 Banking Days of the effective date of such change.

Change in Rates Due to Change in Ratio. The effective date on which any change in interest rates on Canadian Prime Rate Loans, U.S. Base Rate Loans and LIBOR Based Loans, standby fees, stamping fees Loans or Issuance in Standby Fees occurs will be the earlier of: (i) first day of the third Banking Day calendar month following the date of receipt by the Agent of the a Compliance Certificate which evidences a change in the Consolidated Senior Debt to EBITDA Ratio: and (ii) ; provided that if the date Borrower fails to deliver such Compliance Certificate is when due in accordance with Section 14.1(g). If the Borrower fails to deliver a Compliance Certificate in accordance with Section 14.1(g14.1(b), then the applicable margins indicated in the table set forth in Section 4.2(i) shall be deemed to be at level 5 in such table until such time as the applicable Compliance Certificate is delivered (and notwithstanding the Event of Default which arises based upon Level 6 from such failure to so deliver due date until the date of delivery of such Compliance Certificate). Any increase or decrease in the interest rates on LIBOR Based Loans outstanding on the effective date of a change in such ratio will apply proportionately to each such LIBOR Based Loan outstanding on the basis of the number of days remaining in the term to maturity thereof. Any increase or decrease in the Stamping Fees on Bankers' Acceptances outstanding on the effective date of such a change will apply for new Bankers' Acceptances issued after such effective date or on any Rollover of an existing Bankers' Acceptance but otherwise the Stamping Fees on any Bankers' Acceptance existing on such effective date will not change until the maturity date thereof. Any increase or decrease in the Issuance Fees on Letters of Credit outstanding on the effective date of a change in such ratio will apply proportionately to each such LIBOR Based Loan or Letter of Credit outstanding on the basis of the number of days remaining in until the term to maturity expiry date thereof. The stamping fees already paid by the Borrower in respect of any Bankers' Acceptance having an unexpired maturity date in excess of 45 days on the effective date referred to above will be adjusted to reflect the applicable stamping fee for the remaining term of the Bankers' Acceptance, and the Borrower will pay to the Agent for the benefit of the Lenders any resulting increase in stamping fees in respect of such outstanding Bankers' Acceptances, and the Lenders will pay to the Agent for the benefit of the Borrower any resulting decrease in stamping fees in respect of such outstanding Bankers' Acceptances, in each case within 3 Banking Days of the effective date of such change.

Change in Rates Due to Change in Ratio. The effective date on which any change in interest rates on Canadian Prime Rate Loans, U.S. Base Rate Loans and LIBOR Based Loans, standby fees, stamping fees Loans or in Issuance Fees and Standby Fees occurs will be the earlier of: (i) first day of the third Banking Day calendar month following the date of receipt by the Agent of the a Compliance Certificate which evidences a change in the Consolidated Senior Debt to EBITDA Ratio: and Ratio (iias modified by the first notation in Section 3.2(g) above); provided that if the date Borrower fails to deliver such Compliance Certificate is when due in accordance with Section 14.1(g). If the Borrower fails to deliver a Compliance Certificate in accordance with Section 14.1(g14.1(b), then the applicable margins indicated in the table set forth in Section 4.2(i) shall be deemed to be at level 5 in such table until such time as the applicable Compliance Certificate is delivered (and notwithstanding the Event of Default which arises based upon Level 6 from such failure to so deliver due date until the date of delivery of such Compliance Certificate). Any increase or decrease in the interest rates on LIBOR Based Loans outstanding on the effective date of a change in such ratio will apply proportionately to each such LIBOR Based Loan outstanding on the basis of the number of days remaining in the term to maturity thereof. Any increase or decrease in the Stamping Fees on Bankers' Acceptances outstanding on the effective date of such a change will apply for new Bankers' Acceptances issued after such effective date or on any Rollover of an existing Bankers' Acceptance but otherwise the Stamping Fees on any Bankers' Acceptance existing on such effective date will not change until the maturity date thereof. Any increase or decrease in the Issuance Fees on Letters of Credit outstanding on the effective date of a change in such ratio will apply proportionately to each such LIBOR Based Loan or Letter of Credit outstanding on the basis of the number of days remaining in until the term to maturity expiry date thereof. The stamping fees already paid by the Borrower in respect of any Bankers' Acceptance having an unexpired maturity date in excess of 45 days on the effective date referred to above will be adjusted to reflect the applicable stamping fee for the remaining term of the Bankers' Acceptance, and the Borrower will pay to the Agent for the benefit of the Lenders any resulting increase in stamping fees in respect of such outstanding Bankers' Acceptances, and the Lenders will pay to the Agent for the benefit of the Borrower any resulting decrease in stamping fees in respect of such outstanding Bankers' Acceptances, in each case within 3 Banking Days of the effective date of such change.