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 occurs will be the first day of the calendar month following the date of receipt by the Agent of a Compliance Certificate which evidences a change in the Consolidated Senior Debt to EBITDA Ratio (as modified by the first notation in Section 3.2(e) above); provided that if the Borrower fails to deliver such Compliance Certificate when due in accordance with Section 13.1(b), then the applicable margins shall be based upon Level 6 from such 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.

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 or in Issuance Fees and Standby Fees occurs will be the first day of the calendar month following the date of receipt by the Agent of a Compliance Certificate which evidences a change in the Consolidated Senior Debt to EBITDA Ratio (as modified by the first notation in Section 3.2(e) above)Ratio; provided that if the Borrower fails to deliver such Compliance Certificate when due in accordance with Section 13.1(b14.1(b), then the applicable margins shall be based upon Level 6 4 from such 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 Letter of Credit outstanding on the basis of the number of days remaining until the expiry date thereof.

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 Loans, standby fees, stamping fees or Issuance Fees occurs will be the first day earlier of the calendar month following (i) the date of receipt by the Agent of a Compliance Certificate which evidences a change in the Consolidated Senior Debt to EBITDA Ratio and (as modified by ii) the first notation date such Compliance Certificate is due in accordance with Section 3.2(e) above14.1(g); provided that if . If the Borrower fails to deliver such a Compliance Certificate when due in accordance with Section 13.1(b14.1(g), then the applicable margins indicated in the table set forth in Section 4.2(j) shall be based upon Level deemed to be at level 6 in such table until such time as the applicable Compliance Certificate is delivered (and notwithstanding the Event of Default which arises from such due date until the date of delivery of 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. Any increase or decrease in the Stamping Fees 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 stamping fees on any Bankers' ’ Acceptance existing on such effective date will not change until the maturity date thereof.

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 or in Issuance Fees and Standby Fees occurs will be the first day of the calendar month following the date of receipt by the Agent of a Compliance Certificate which evidences a change in the Consolidated Senior Debt to EBITDA Ratio (as modified by the first notation in Section 3.2(e3.2(g) above); provided that if the Borrower fails to deliver such Compliance Certificate when due in accordance with Section 13.1(b14.1(b), then the applicable margins shall be based upon Level 6 from such 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 Letter of Credit outstanding on the basis of the number of days remaining until the expiry date thereof.