Increased Interest Rate. (a) If at any time during the Initial Period the Consolidated Leverage Ratio exceeds 3.75 to 1.00 but is at or below 4.00 to 1.00 (a “Primary Event Leverage Increase”), the per annum interest rate (including any Default Rate, if applicable) otherwise applicable to each series of the Notes as specified in the first paragraph thereof shall be increased by 25 basis points (.25%) (the “Primary Increased Interest Rate”) from the date of such Primary Event Leverage Increase to but not including the date that the Consolidated Leverage Ratio is 3.75 to 1.00 or less. The Company shall promptly, and in any event within 10 Business Days, following a Primary Event Leverage Increase notify the holders of the Notes in writing that a Primary Event Leverage Increase has commenced and the date of such commencement.
(b) If at any time during the Initial Period the Consolidated Leverage Ratio exceeds 4.00 to 1.00 but is at or below 4.35 to 1.00 (a “Secondary Event Leverage Increase”), the per annum interest rate (including any Default Rate, if applicable) otherwise applicable to each series of the Notes as specified in the first paragraph thereof (and after giving effect to clause (a) above) shall be increased by an additional 25 basis points (.25%) (the “Secondary Increased Interest Rate”) from the date of such Secondary Event Leverage Increase to but not including the date that the Consolidated Leverage Ratio is 4.00 to 1.00 or less. The Company shall promptly, and in any event within 10 Business Days, following a Secondary Event Leverage Increase notify the holders of the Notes in writing that a Secondary Event Leverage Increase has commenced and the date of such commencement.
(c) If a Primary Event Leverage Increase or Secondary Event Leverage Increase shall have occurred, the Company shall notify the holders of the Notes in writing if on any date thereafter the Consolidated Leverage Ratio has been less than 4.00 to 1.00 or less than 3.75 to 1.00 and such notice shall be accompanied by a certificate of a Senior Financial Officer setting forth the information used in making such determination.”
Section 1.4. Section 9 of the Note Purchase Agreement is hereby amended by inserting the following additional Section 9.10:
Increased Interest Rate. In the event that a third party institutional investor invests within a period of one year from the Original Issuance Date and the investment is in the form of debt and paid at an interest rate that exceeds 10% per annum, this Debenture shall automatically be deemed amended to increase the interest rate hereunder to the rate of interest set forth in the debt with such third party institutional investor thereafter, provided however, that such rate shall not exceed 14% per annum.
Increased Interest Rate. If any Loans or other amount is not paid when requested, any principal, interest, fee or other amount payable hereunder shall bear interest for each day thereafter until paid in full (before and after judgment) at a rate per annum which shall be equal to two hundred (200) basis points (2% per annum) above the rate of interest otherwise applicable with respect to such amount or the Base Rate if no rate of interest is otherwise applicable (the "Increased Interest Rate,").
Increased Interest Rate. Effective November 1, 2002, interest shall accrue on the unpaid principal balance of the Note, as set forth in the Note, at the fixed interest rate of 9.30% per annum.
Increased Interest Rate. (a) If at any time during the six months to one year period following the last original issuance date of the Notes, (i) the Company fails to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act (other than any Current Report on Form 8-K), (ii) the Company has not cured such failure to timely file within 14 days of such failure and (iii) the Notes are not otherwise freely tradable by Holders (other than Holders who are Affiliates of the Company) as a result of restrictions pursuant to the U.S. securities laws or the terms of this Indenture or the Notes, the interest rate in respect of the Notes shall be increased by 0.25% per annum for the first 90 days of such period following such failure to file and by 0.50% per annum after the first 90 days of the period (in either case, ending on the date that is one year from the Issue Date of the Notes) for which such failure to file continues.
(b) Unless:
(i) the Restricted Securities Legend on the Notes (other than the Affiliate Notes) has been removed, and
(ii) the Notes (other than the Affiliate Notes) are freely tradable pursuant to Rule 144 under the Securities Act without volume restrictions by Holders other than Affiliates of the Company (without restrictions pursuant to U.S. securities law or the terms of this Indenture or the Notes), as of the 365th day after the date of original issuance of the Notes, either (x) the interest rate on the Notes (other than the Affiliate Notes, unless and until such time as such Notes are transferred to a Person that is not an Affiliated Entity) will be increased by 0.25% per annum for the first 90 days of such period and by 0.50% per annum after the first 90 days of the period until the foregoing requirements are satisfied or (y) if the Company elects, the Company shall no later than the 410th day after the Issue Date (or, if at that time the Company is a “well known seasoned issuer” as defined in Rule 405 under the Securities Act, the 385th day after such date) file and maintain effective a resale registration statement relating to the Notes and the shares of Common Stock issuable on conversion thereof (the “Shelf Registration Statement”); provided that if the Company elects to file a Shelf Registration Statement pursuant to clause (y) above, the interest rate on such Notes will not increase following the 365th day after the date of original issuance of the Notes but shall instead increase as ...
Increased Interest Rate. (a) If at any time during the Initial Period the Consolidated Leverage Ratio exceeds 3.75 to 1.00 but is at or below 4.00 to 1.00 (a “Primary Event Leverage Increase”), the per annum interest rate (including any Default Rate, if applicable) otherwise applicable to each series of the Notes as specified in the first paragraph thereof shall be increased by 25 basis points (.25%) (the “Primary Increased Interest Rate”) from the date of such Primary Event Leverage Increase to but not including the date that the Consolidated Leverage Ratio is 3.75 to 1.00 or less. The Company shall promptly, and in any event within 10 Business Days, following a Primary Event Leverage Increase notify the holders of the Notes in writing that a Primary Event Leverage Increase has commenced and the date of such commencement.
(b) If a Primary Event Leverage Increase shall have occurred, the Company shall notify the holders of the Notes in writing if on any date thereafter the Consolidated Leverage Ratio has been less than 3.75 to 1.00 and such notice shall be accompanied by a certificate of a Senior Financial Officer setting forth the information used in making such determination.
Increased Interest Rate. Principal amounts remaining unpaid after the Maturity Date or after demand for payment has been made or the occurrence of automatic acceleration hereunder shall bear interest from and after that date in time until paid at a rate of 2% per annum plus the rate otherwise payable hereunder.
Increased Interest Rate. If the closing of a Qualified IPO has not occurred on or before September 30, 2002, then the interest shall accrue on the unpaid balance of the Notes until the principal balance thereof shall have become due and payable, and shall apply retroactively for the period April 1, 2002 to September 30, 2002, at a rate determined in accordance with the following formulas: The calculations of the above formulas shall be based on annualized EBITDA calculations as follows: (i) retroactive interest payments for the period April 1, 2002 through September 30, 2002, and interest payments due and payable on October 31, 2002, November 30, 2002, and December 31, 2002 shall be calculated using Six Month Annualized EBITDA and the Net Funded Debt for the Fiscal Quarter ended September 30, 2002; (ii) interest payments due and payable on January 31, 2003, February 28, 2003, and March 31, 2003 shall be calculated using Nine Month Annualized EBITDA and the Net Funded Debt for the Fiscal Quarter ended December 31, 2002; and (iii) interest payments due and payable on and after April 30, 2003 shall be calculated using Last 12 Months EBITDA and the latest quarter ended Net Funded Debt. The interest rate set forth in the chart above that corresponds to the applicable quotient of Net Funded Debt divided by Applicable Annualized EBITDA calculated as described in the immediately preceding clauses (i), (ii), and (iii) are collectively referred to as "INCREASED INTEREST RATES," and each an "INCREASED INTEREST RATE." If the closing of a Qualified IPO has not occurred on or before September 30, 2002, the Issuer shall deliver to the Holders of the Notes written notice of the first applicable Increased Interest Rate and the calculation thereof, together with supporting information in sufficient detail to enable the Holders of the Notes to verify the same, on or before October 31, 2002 for the interest payments applicable to the period from April 1, 2002 to December 31, 2002. Additionally, on October 31, 2002, the Issuer shall deliver to the Holders of the Notes (a) the interest payment for the period from October 1, 2002 to October 31, 2002, which shall be calculated using the Increased Interest Rate applicable thereto, and (b) the retroactive interest payment for the period from April 1, 2002 to September 30, 2002, in the amount of (x) the FIRST AMENDMENT TO CANPARTNERS/APS NOTE PURCHASE AGREEMENT interest payments for such period calculated using the applicable Increased Interest Rate, LESS (...
Increased Interest Rate. Section 2 of the Credit Agreement is hereby amended by adding at the end thereof the following new subsection 2.25 as follows:
Increased Interest Rate. (i) Upon the occurrence of any Credit Event from (and including) the date on which such Credit Event occurs, the Applicable Margin shall be increased
(a “Credit Event Step-Up”) by an additional 2% per annum; provided, however, the Credit Event Step-Up applicable pursuant to this Section 2.02(c)(i) shall not apply during a Default Period. For the avoidance of doubt, (A) the Applicable Margin shall increase by an additional 2% per annum upon each occurrence of a Credit Event and (B) immediately upon the waiver or cure of such Event of Default, the Credit Event Step-Up shall apply and the Applicable Margin shall be increased by the Credit Event Margin Increase commencing on, and including, the date of such cure or waiver.
(ii) Upon the occurrence of a Change of Control Event from (and including) the date on which a Change of Control Event occurs, the Applicable Margin shall be increased by an additional 5% per annum.
