Common use of Interest and Fee Adjustment Clause in Contracts

Interest and Fee Adjustment. In the event of a change in the Applicable Margin and the Standby Fee Rate in respect of the Covenant Conversion Date and thereafter as a result of a change in the Senior Funded Debt to EBITDA Ratio, such change shall become effective on the day on which the Borrower delivers a Compliance Certificate in accordance with the requirements hereof evidencing such change in the Senior Funded Debt to EBITDA Ratio or, if the Borrower has not delivered a Compliance Certificate as required by the terms hereof within the time permitted by Section 9.1(y), then any change in the Applicable Margin and Standby Fee Rate shall become effective on the latest date permitted hereunder for delivery of such Compliance Certificate, and the Applicable Margin and Standby Fee Rate shall be based on the highest Level in the table in the definition of Applicable Margin for the period from the latest date permitted hereunder for delivery of such Compliance Certificate until the date of delivery thereof.

Interest and Fee Adjustment. In the event of a change in the Applicable Margin and the Standby Fee Rate in respect of the Covenant Conversion Date and thereafter as a result of a change in the Senior Funded Consolidated Total Debt to EBITDA Ratio, such change shall become effective on the day falling three (3) Business Days after the day on which the Borrower delivers a Compliance Certificate in accordance with the requirements hereof evidencing such change in the Senior Funded Consolidated Total Debt to EBITDA Ratio Ratio, or, if the Borrower has not delivered a Compliance Certificate as required by the terms hereof within the time permitted by Section 9.1(y9.1(f), then any such change in the Applicable Margin and Standby Fee Rate shall become effective on the day falling three (3) Business Days after the latest date permitted hereunder for delivery of such Compliance Certificate, Certificate and the Applicable Margin and Standby Fee Rate shall be based on the highest Level rate in the table tables in the definition definitions of Applicable Margin and Standby Fee Rate for the period from the latest date permitted hereunder for delivery of such Compliance Certificate day until the date of delivery thereof.

Interest and Fee Adjustment. In the event of a change in the Applicable Margin and the Standby Fee Rate in respect of the Covenant Conversion Date and thereafter as a result of a change in the Senior Funded Consolidated Total Debt to Adjusted EBITDA Ratio, such change shall become effective on the day falling three (3) Business Days after the day on which the Borrower delivers a Compliance Certificate in accordance with the requirements hereof evidencing such change in the Senior Funded Consolidated Total Debt to Adjusted EBITDA Ratio Ratio, or, if the Borrower has not delivered a Compliance Certificate as required by the terms hereof within the time permitted by Section 9.1(y9.1(f), then any such change in the Applicable Margin and Standby Fee Rate shall become effective on the day falling three (3) Business Days after the latest date permitted hereunder for delivery of such Compliance Certificate, Certificate and the Applicable Margin and Standby Fee Rate shall be based on the highest Level rate in the table tables in the definition definitions of Applicable Margin and Standby Fee Rate for the period from the latest date permitted hereunder for delivery of such Compliance Certificate day until the date of delivery thereof.

Interest and Fee Adjustment. In Until the Covenant Monitoring Date, the Applicable Margin shall be set at Level V in accordance with the definition of “Applicable Margin”. On the Covenant Monitoring date and thereafter, in the event of a change in the Applicable Margin and the Standby Fee Rate in respect of the Covenant Conversion Date and thereafter as a result of a change in the Senior Funded Debt to EBITDA Ratio, such change shall become effective on the day on which the Borrower delivers a Compliance Certificate in accordance with the requirements hereof evidencing such change in the Senior Funded Debt to EBITDA Ratio or, if the Borrower has not delivered a Compliance Certificate as required by the terms hereof within the time permitted by Section 9.1(y9.1(bb)(i), then any change in the Applicable Margin and Standby Fee Rate shall become effective on the latest date permitted hereunder for delivery of such Compliance Certificate, and the Applicable Margin and Standby Fee Rate shall be based on the highest Level in the table in the definition of Applicable Margin for the period from the latest date permitted hereunder for delivery of such Compliance Certificate until the date of delivery thereof.