Interest on the Loans. A. Rate of Interest. Subject to the provisions of subsections 2.6 and 2.7, each Term Loan and each Revolving Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate or Canadian Base Rate or the Adjusted Eurodollar Rate or Canadian Eurodollar Rate, as the case may be. Subject to the provisions of subsection 2.7, each Swing Line Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate. The applicable basis for determining the rate of interest with respect to any Term Loan or any Revolving Loan shall be selected by the applicable Borrower initially at the time a Notice of Borrowing is given with respect to such Loan pursuant to subsection 2.1B, and the basis for determining the interest rate with respect to any Term Loan or any Revolving Loan may be changed from time to time pursuant to subsection 2.2D. If on any day a Term Loan or Revolving Loan is outstanding with respect to which notice has not been delivered to Agent in accordance with the terms of this Agreement specifying the applicable basis for determining the rate of interest, then for that day that Loan shall bear interest determined by reference to the Base Rate or Canadian Base Rate, as the case may be. Subject to the provisions of subsections 2.2E and 2.7, the Term Loans and the Revolving Loans shall bear interest through maturity as follows: (i) if a Base Rate Loan, then at the sum of the Base Rate plus the ---- Applicable Base Rate Margin; (iii) if a Eurodollar Rate Loan, then at the sum of the Adjusted Eurodollar Rate plus the Applicable Eurodollar Rate Margin; or ---- (iv) if a Canadian Eurodollar Rate Loan, then at the sum of the Canadian Eurodollar Rate plus the Applicable Eurodollar Rate Margin. ---- Subject to the provisions of subsections 2.2E and 2.7, the Swing Line Loans shall bear interest through maturity at the sum of the Base Rate plus the ---- Applicable Base Rate Margin less the applicable Commitment Fee Percentage. ---- The Applicable Base Rate Margin or the Applicable Eurodollar Rate Margin shall be the Base Rate Margin or the Eurodollar Rate Margin, as the case may be, set forth in the table above opposite Company's Consolidated Leverage Ratio for the four fiscal quarters ending as of the last day of the fiscal quarter immediately preceding the fiscal quarter during which the determination is being made as set forth in the Compliance Certificate delivered pursuant to subsection 6.1(iv)(b), any required adjustment to become automatically effective on the next succeeding Business Day following receipt by the Agent of such Compliance Certificate. If Company fails to deliver a Compliance Certificate by the time required by subsection 6.1(iv)(b), from such time the Compliance Certificate was required to be delivered until delivery of such Compliance Certificate, the Applicable Base Rate Margin and the Applicable Eurodollar Rate Margin shall automatically be adjusted to 1.00% per annum and 2.00% per annum, respectively.
Appears in 1 contract
Interest on the Loans. A. Rate of InterestRATE OF INTEREST. Subject to the provisions of subsections 2:1B, 2.6 and 2.7, each Term Loan and each Revolving Loan Loan, except for Swing Line Loans, shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate or Canadian Base Rate or the Adjusted Eurodollar Rate or Canadian Eurodollar Rate, as the case may be. Subject to the provisions of subsection 2.7, each Swing Line Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate. The applicable basis for determining the rate of interest with respect to any Term Loan or any Revolving Loan shall be selected by the applicable Borrower Company initially at the time a Notice of Borrowing is given with respect to such Loan pursuant to subsection 2.1B, and the basis for determining the interest rate with respect to any Term Loan or any Revolving Loan may be changed from time to time pursuant to subsection 2.2D. If on any day a Term Loan or Revolving Loan is outstanding with respect to which notice has not been delivered to Administrative Agent in accordance with the terms of this Agreement specifying the applicable basis for determining the rate of interest, then for that day that Loan shall bear interest determined by reference to the Base Rate or Canadian Base Rate, as the case may be. Subject to the provisions of subsections 2.2E and 2.7, the Acquisition Loans, Term Loans, Tranche B Term Loans and the Revolving Loans shall bear interest through maturity as follows:
(i) if a Base Rate Loan, then at the sum of the Base Rate plus the ---- Applicable Base Rate Margin;; or
(iiiii) if a Eurodollar Rate Loan, then at the sum of the Adjusted Eurodollar Rate plus the Applicable Eurodollar Rate Margin; or ----
(iv) if a Canadian Eurodollar Rate Loan, then at the sum of the Canadian Eurodollar Rate plus the Applicable Eurodollar Rate Margin. ---- Subject to the provisions of subsections 2.2E and 2.7, the Swing Line Loans shall bear interest through maturity at the sum of the Base Rate plus the ---- Applicable Base Rate Margin less the applicable Commitment Fee Percentage. ---- The Applicable Base Rate Margin or the Applicable Eurodollar Rate Margin shall be the Base Rate Margin or the Eurodollar Rate Margin, as the case may be, set forth in the table above opposite Company's Consolidated Leverage Ratio for the four fiscal quarters ending as of the last day of the fiscal quarter immediately preceding the fiscal quarter during which the determination is being made as set forth in the Compliance Certificate delivered pursuant to subsection 6.1(iv)(b), any required adjustment to become automatically effective on the next succeeding Business Day following receipt by the Agent of such Compliance Certificate. If Company fails to deliver a Compliance Certificate by the time required by subsection 6.1(iv)(b), from such time the Compliance Certificate was required to be delivered until delivery of such Compliance Certificate, the Applicable Base Rate Margin and the Applicable Eurodollar Rate Margin shall automatically be adjusted to 1.00% per annum and 2.00% per annum, respectively.
Appears in 1 contract
Interest on the Loans. A. Rate of Interest. Subject to the provisions of subsections 2.6 and 2.7, each Term Loan and each Revolving Loan shall bear interest on the unpaid principal amount thereof from the date made through to maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate or Canadian Base Rate or the Reserve Adjusted Eurodollar Rate or Canadian Eurodollar Rate, as the case may be. Subject to the provisions of subsection 2.7, each Swing Line Loan shall bear interest on the unpaid principal amount thereof from the date made through to maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate. The applicable basis for determining the rate of interest with respect to any Term Loan or any Revolving Loan shall be selected by the applicable Borrower Company initially at the time a telephonic notice or Notice of Borrowing is given with respect to such Loan pursuant to subsection 2.1B, and the 2.1B (so long as Company delivers to Administrative Agent a Notice of Borrowing within one Business Day prior thereto). The basis for determining the interest rate with respect to any Term Loan or any Revolving Loan may be changed from time to time pursuant to subsection 2.2D. If on any day a any Term Loan or Revolving Loan is outstanding with respect to which notice has not been delivered to the Administrative Agent in accordance with the terms of this Agreement specifying the applicable basis for determining the rate of interest, then for that day that Loan shall bear interest determined by reference to the Base Rate or Canadian Base Rate, as the case may be. Subject to the provisions of subsections 2.2E and 2.7, the Term Loans and the Revolving Loans shall bear interest through maturity as follows:
(i) if a Base Rate Loan, then at the sum of the Base Rate plus ---- the ---- Applicable Base Rate Margin;; or
(iiiii) if a Eurodollar Rate Loan, then at the sum of the Reserve Adjusted Eurodollar Rate plus the Applicable Eurodollar Rate Margin; or ----
(iv) if a Canadian Eurodollar Rate Loan, then at the sum of the Canadian Eurodollar Rate plus the Applicable Eurodollar Rate Margin. ---- Subject to the provisions of subsections 2.2E and 2.7, the Swing Line Loans shall bear interest through to maturity at the sum of the Base Rate plus the Applicable ---- Applicable Base Rate Margin for Revolving Loans less the applicable Applicable Commitment Fee ---- Percentage. ---- The Applicable Base Rate Margin or the Applicable Eurodollar Rate Margin shall be the Base Rate Margin or the Eurodollar Rate Margin, as the case may be, set forth in the table above opposite Company's Consolidated Leverage Ratio for the four fiscal quarters ending as of the last day of the fiscal quarter immediately preceding the fiscal quarter during which the determination is being made as set forth in the Compliance Certificate delivered pursuant to subsection 6.1(iv)(b), any required adjustment to become automatically effective on the next succeeding Business Day following receipt by the Agent of such Compliance Certificate. If Company fails to deliver a Compliance Certificate by the time required by subsection 6.1(iv)(b), from such time the Compliance Certificate was required to be delivered until delivery of such Compliance Certificate, the Applicable Base Rate Margin and the Applicable Eurodollar Rate Margin shall automatically be adjusted to 1.00% per annum and 2.00% per annum, respectively.
Appears in 1 contract
Sources: Credit Agreement (Microclock Inc)
Interest on the Loans. A. Rate of Interest. Subject to the provisions of subsections 2.6 and 2.7, each Term Loan and each Revolving Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate or Canadian Base Rate or the Adjusted Eurodollar Rate or Canadian Eurodollar Rate, as the case may be. Subject to the provisions of subsection 2.7, each Swing Line Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate. The applicable basis for determining the rate of interest with respect to any Term Loan or any Revolving Loan shall be selected by the applicable Borrower Company initially at the time a Notice of Borrowing is given with respect to such Loan pursuant to subsection 2.1B▇.▇▇, and the basis for determining the interest rate with respect to any Term Loan or any Revolving Loan may be changed from time to time pursuant to subsection 2.2D. 2.2D; provided that for the -------- first 30 days following the Closing Date any Term Loan or Revolving Loan shall bear interest at a rate determined by reference to the Base Rate unless otherwise approved by Administrative Agent. If on any day a Term Loan or Revolving Loan is outstanding with respect to which notice has not been delivered to Agent in accordance with the terms of this Agreement specifying the applicable basis for determining the rate of interest, then for that day that Loan shall bear interest determined by reference to the Base Rate or Canadian Base Rate, as the case may be. .
(i) Subject to the provisions of subsections 2.2E and 2.7, the Term Loans and the Revolving Loans shall bear interest through maturity as follows:
(ia) if If a Base Rate Loan, then at the sum of the Base Rate plus the ---- Base Rate margin (the "Applicable Base Rate Margin;") set forth in the table below opposite the Consolidated Leverage Ratio for the four- Fiscal Quarter period for which the applicable Margin Determination Certificate is being delivered pursuant to subsection 6.1(iv); or
(iiib) if a Eurodollar Rate Loan, then at the sum of the Adjusted Eurodollar Rate plus the Eurodollar Rate margin (the "Applicable Eurodollar Rate Margin; or ----
(iv") if a Canadian set forth in the table below opposite the Consolidated Leverage Ratio for the four-Fiscal Quarter period for which the applicable Margin Determination Certificate is being delivered pursuant to subsection 6. 1(iv): Applicable Applicable Eurodollar Rate LoanBase Rate Consolidated Leverage Ratio Margin Margin ---------------------------- ---------------- ----------- Greater than or equal to: 3.75:1.00 3.00% 2.00% Greater than or equal to: 3.25:1.00 But less than: 3.75:1.00 2.75% 1.75% Greater than or equal to: 2.75:1.00 But less than: 3.25:1.00 2.50% 1.50% Greater than or equal to: 2.25:1.00 But less than: 2.75:1.00 2.25% 1.25% Greater than or equal to: 1.75:1.00 But less than: 2.25:1.00 2.00% 1.00% Greater than or equal to: 1.25:1.00 But less than: 1.75:1.00 1.75% 0.75% Less than: 1.25:1.00 1.50% 0.50% Upon delivery of a Margin Determination Certificate by Company to Administrative Agent pursuant to subsection 6.1(iv), then at the sum of the Canadian Eurodollar Applicable Base Rate plus Margin and the Applicable Eurodollar Rate Margin. ---- Margin shall automatically be adjusted in accordance with such Margin Determination Certificate, such adjustment to become effective on the next succeeding Business Day following the receipt by Administrative Agent of such Margin Determination Certificate; provided that until the delivery -------- of the first Margin Determination Certificate after the six month anniversary of the Closing Date, the Applicable Eurodollar Rate Margin shall be 3.00% per annum and the Applicable Base Rate Margin shall be 2.00% per annum; provided further -------- ------- that at any time a Margin Determination Certificate is not delivered at the time required pursuant to subsection 6.1 (iv), from the time such Margin Determination Certificate was required to be delivered until delivery of such Margin Determination Certificate, the Applicable Eurodollar Rate Margin shall be 3.00% per annum and the Applicable Base Rate Margin shall be 2.00% per annum; provided further that if a Margin Determination Certificate erroneously -------- ------- indicates an applicable margin more favorable to Company than would be afforded by the actual calculation of the Consolidated Leverage Ratio, Company shall promptly pay such additional interest and letter of credit fees as shall correct for such error.
(ii) Subject to the provisions of subsections 2.2E and 2.7, the Swing Line Loans shall bear interest through maturity at the sum of the Base Rate plus the ---- Applicable Base Rate Margin less the applicable Commitment Fee Percentage. ---- The Applicable Base Rate Margin or the Applicable Eurodollar Rate Margin shall be the Base Rate Margin or the Eurodollar Rate Margin, as the case may be, set forth commitment fee percentage provided for in the table above opposite Company's Consolidated Leverage Ratio for the four fiscal quarters ending as of the last day of the fiscal quarter immediately preceding the fiscal quarter during which the determination is being made as set forth in the Compliance Certificate delivered pursuant to subsection 6.1(iv)(b), any required adjustment to become automatically effective on the next succeeding Business Day following receipt by the Agent of such Compliance Certificate. If Company fails to deliver a Compliance Certificate by the time required by subsection 6.1(iv)(b), from such time the Compliance Certificate was required to be delivered until delivery of such Compliance Certificate, the Applicable Base Rate Margin and the Applicable Eurodollar Rate Margin shall automatically be adjusted to 1.00% per annum and 2.00% per annum, respectively.2.3A.
Appears in 1 contract
Sources: Credit Agreement (Digitas Inc)
Interest on the Loans. A. Rate of Interest. Subject to the provisions of subsections 2.6 and 2.7, each Term Loan and each Revolving Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate or Canadian Base Rate or the Adjusted Eurodollar Rate or Canadian Eurodollar Rate, as the case may be. Subject to the provisions of subsection 2.7, each Swing Line Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate. The applicable basis for determining the rate of interest with respect to any Term Loan or any Revolving Loan shall be selected by the applicable Borrower Company initially at the time a Notice of Borrowing is given with respect to such Loan pursuant to subsection 2.1B, and the basis for determining the interest rate with respect to any Term Loan or any Revolving Loan may be changed from time to time pursuant to subsection 2.2D. If on any day a Term Loan or Revolving Loan is outstanding with respect to which notice has not been delivered to Administrative Agent in accordance with the terms of this Agreement specifying the applicable basis for determining the rate of interest, then for that day that Loan shall bear interest determined by reference to the Base Rate or Canadian Base Rate, as the case may be. Subject to the provisions of subsections 2.2E and 2.7, the Term Loans and the Revolving Loans shall bear interest through maturity as follows:
(i) if a Base Rate Loan, then at the sum of the Base Rate plus the ---- Applicable Base Rate Margin;; or
(iiiii) if a Eurodollar Rate Loan, then at the sum of the Adjusted Eurodollar Rate plus the Applicable Eurodollar Rate Margin; or ----
(iv) if a Canadian Eurodollar Rate Loan, then at the sum of the Canadian Eurodollar Rate plus the Applicable Eurodollar Rate Margin. ---- Subject to the provisions of subsections 2.2E and 2.7, the Swing Line Loans shall bear interest through maturity at the sum of the Base Rate plus the ---- Applicable Base Rate Margin. Upon delivery of the Margin less Determination Certificate by Company to Administrative Agent pursuant to subsection 6.1(xix), the applicable Commitment Fee Percentage. ---- The Applicable Base Rate Margin or the and Applicable Eurodollar Rate Margin shall automatically be the Base Rate adjusted in accordance with such Margin or the Eurodollar Rate MarginDetermination Certificate, as the case may be, set forth in the table above opposite Company's Consolidated Leverage Ratio for the four fiscal quarters ending as of the last day of the fiscal quarter immediately preceding the fiscal quarter during which the determination is being made as set forth in the Compliance Certificate delivered pursuant to subsection 6.1(iv)(b), any required such adjustment to become automatically effective on the next succeeding Business Day following the receipt by the Administrative Agent of such Compliance Margin Determination Certificate. If Company fails to deliver ; provided that (1) -------- at any time a Compliance Margin Determination Certificate by is not delivered at the time required by pursuant to subsection 6.1(iv)(b6.1(xix), from the time such time the Compliance Margin Determination Certificate was required to be delivered until delivery of such Compliance Margin Determination Certificate, the Applicable Base Rate Margin shall be 2.00% and the Applicable Eurodollar Rate Margin shall automatically be adjusted 3.00%, and (2) if a Margin Determination Certificate erroneously indicates an applicable margin (x) more favorable to 1.00% per annum Company than should be afforded by the actual calculation of the Consolidated Total Leverage Ratio, Company shall promptly pay additional interest and 2.00% per annumletter of credit fees to correct for such error, respectivelyand (y) less favorable to Company than should be afforded by the actual calculation of the Consolidated Total Leverage Ratio, Lenders shall promptly reimburse Company an amount equal to such excess interest and letter of credit fees to correct for such error.
Appears in 1 contract
Interest on the Loans. A. Rate of Interest. Subject to the provisions of subsections 2.6 and 2.7, each Tranche A Term Loan and each Revolving Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate or Canadian Base Rate or the Adjusted Eurodollar Rate or Canadian Eurodollar Rate, as the case may be. Subject to the provisions of subsection 2.7, each Swing Line Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate. The applicable basis for determining the rate of interest with respect to any Tranche A Term Loan or any Revolving Loan shall be selected by the applicable Borrower Company initially at the time a Notice of Borrowing is given with respect to such Loan pursuant to subsection 2.1B, and the 2.1B. The basis for determining the interest rate with respect to any Tranche A Term Loan or any Revolving Loan may be changed from time to time pursuant to subsection 2.2D. If on any day a Tranche A Term Loan or Revolving Loan is outstanding with respect to which notice has not been delivered to Administrative Agent in accordance with the terms of this Agreement specifying the applicable basis for determining the rate of interest, then for that day that Loan shall bear interest determined by reference to the Base Rate or Canadian Base Rate, as the case may be. .
(i) Subject to the provisions of subsections 2.2E and 2.7, the Tranche A Term Loans and the Revolving Loans shall bear interest through maturity as follows:
(ia) if a Base Rate Loan, then at the sum of the Base Rate plus ---- the ---- Applicable Base Rate Margin;; or
(iiib) if a Eurodollar Rate Loan, then at the sum of the Adjusted Eurodollar Rate plus the Applicable Eurodollar Rate Margin; or . ----
(ivii) if a Canadian Eurodollar Rate Loan, then at the sum of the Canadian Eurodollar Rate plus the Applicable Eurodollar Rate Margin. ---- Subject to the provisions of subsections 2.2E and 2.7, the Swing Line Loans shall bear interest through maturity at the sum of the Base Rate plus the ---- Applicable Base Rate Margin less the applicable Commitment Fee Percentagefor Tranche A Term Loans. ---- The Applicable Base Rate Margin or the Applicable Eurodollar Rate Margin shall be the Base Rate Margin or the Eurodollar Rate Margin, as the case may be, set forth in the table above opposite Company's Consolidated Leverage Ratio for the four fiscal quarters ending as of the last day of the fiscal quarter immediately preceding the fiscal quarter during which the determination is being made as set forth in the Compliance Certificate delivered pursuant to subsection 6.1(iv)(b), any required adjustment to become automatically effective on the next succeeding Business Day following receipt by the Agent of such Compliance Certificate. If Company fails to deliver a Compliance Certificate by the time required by subsection 6.1(iv)(b), from such time the Compliance Certificate was required to be delivered until delivery of such Compliance Certificate, the Applicable Base Rate Margin and the Applicable Eurodollar Rate Margin shall automatically be adjusted to 1.00% per annum and 2.00% per annum, respectively.----
Appears in 1 contract
Sources: Credit Agreement (Sealy Corp)
Interest on the Loans. A. Rate of InterestRATE OF INTEREST. Subject to the provisions of subsections 2.6 and 2.7, each Term Loan and each Revolving Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate or Canadian Base Rate or the Adjusted Eurodollar Rate or Canadian Eurodollar Rate, as the case may be. Subject to the provisions of subsection 2.7, each Swing Line Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate. The applicable basis for determining the rate of interest with respect to any Term Loan or any Revolving Loan shall be selected by the applicable Borrower initially at the time a Notice of Borrowing is given with respect to such Loan pursuant to subsection 2.1B, and the basis for determining the interest rate with respect to any Term Loan or any Revolving Loan may be changed from time to time pursuant to subsection 2.2D. If on any day a Term Loan or Revolving Loan is outstanding with respect to which notice has not been delivered to Agent in accordance with the terms of this Agreement specifying the applicable basis for determining the rate of interest, then for that day that Loan shall bear interest determined by reference to the Base Rate or Canadian Base Rate, as the case may be. Subject to the provisions of subsections 2.2E and 2.7, the Term Loans and the Revolving Loans shall bear interest through maturity as follows:
(i) if a Base Rate Loan, then at the sum of the Base Rate plus the ---- Applicable Base Rate Margin;
(iii) if a Eurodollar Rate Loan, then at the sum of the Adjusted Eurodollar Rate plus the Applicable Eurodollar Rate Margin; or ----
(iv) if a Canadian Eurodollar Rate Loan, then at the sum of the Canadian Eurodollar Rate plus the Applicable Eurodollar Rate Margin. ---- Subject to the provisions of subsections 2.2E and 2.7, the Swing Line Loans shall bear interest through maturity at the sum of the Base Rate plus the ---- Applicable Base Rate Margin less the applicable Commitment Fee Percentage. ---- The Applicable Base Rate Margin or the Applicable Eurodollar Rate Margin shall be the Base Rate Margin or the Eurodollar Rate Margin, as the case may be, set forth in the table above opposite Company's Consolidated Leverage Ratio for the four fiscal quarters ending as of the last day of the fiscal quarter immediately preceding the fiscal quarter during which the determination is being made as set forth in the Compliance Certificate delivered pursuant to subsection 6.1(iv)(b), any required adjustment to become automatically effective on the next succeeding Business Day following receipt by the Agent of such Compliance Certificate. If Company fails to deliver a Compliance Certificate by the time required by subsection 6.1(iv)(b), from such time the Compliance Certificate was required to be delivered until delivery of such Compliance Certificate, the Applicable Base Rate Margin and the Applicable Eurodollar Rate Margin shall automatically be adjusted to 1.00% per annum and 2.00% per annum, respectively.
Appears in 1 contract
Interest on the Loans. A. RATE OF INTEREST.
(i) Domestic Loans (other than Swing Line Loans or Negotiated Rate of Interest. Subject to the provisions of subsections 2.6 and 2.7, each Term Loan and each Revolving Loan Loans) shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate or Canadian Domestic Base Rate or the Adjusted Eurodollar Rate or Rate. Tranche A Canadian Eurodollar Rate, as the case may be. Subject to the provisions of subsection 2.7, each Loans denominated in Canadian Dollars (other than Swing Line Loan Loans) shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Canadian Prime Rate; Tranche A Canadian Loans made to Canada Safeway and denominated in Dollars (other than Swing Line Loans) shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Canadian Base Rate or the Canadian Eurodollar Rate; Canadian/U.S. Loans shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Domestic Base Rate or the Adjusted Eurodollar Rate. Tranche A Domestic Swing Line Loans shall bear interest at a rate determined by reference to the Domestic Base Rate; Tranche A Canadian Swing Line Loans denominated in Dollars shall bear interest at a rate determined by reference to the Canadian Base Rate; and Tranche A Canadian Swing Line Loans denominated in Canadian Dollars shall bear interest at a rate determined by reference to the Canadian Prime Rate. The applicable basis for determining the rate of interest with respect to any Term Loan or any Revolving Loan on Loans shall be selected by the applicable Borrower initially at the time such Borrower submits a Notice of Borrowing is given with respect to such Loan pursuant to subsection 2.1B, and the basis for determining the interest rate with respect to any Term Loan 2.1B or any Revolving Loan may be changed from time to time a Notice of Conversion/Continuation is given pursuant to subsection 2.2D. If on any day date a Term Loan or Revolving Loan is outstanding with respect to which notice has not been delivered to Primary Documentation Agent in accordance with the terms of this Agreement specifying the applicable basis for determining the rate of interest, then for that day that Loan shall bear interest determined by reference to the Base Rate or Canadian Base applicable Deemed Floating Rate, as the case may be. .
(ii) Subject to the provisions of subsections 2.2E and 2.75.1, the Term Domestic Loans and the Revolving (other than Tranche A Domestic Swing Line Loans or Negotiated Rate Loans) shall bear interest through maturity as follows:
(i) if a Base Rate Loan, then at the sum of the Base Rate plus the ---- Applicable Base Rate Margin;
(iii) if a Eurodollar Rate Loan, then at the sum of the Adjusted Eurodollar Rate plus the Applicable Eurodollar Rate Margin; or ----
(iv) if a Canadian Eurodollar Rate Loan, then at the sum of the Canadian Eurodollar Rate plus the Applicable Eurodollar Rate Margin. ---- Subject to the provisions of subsections 2.2E and 2.7, the Swing Line Loans shall bear interest through maturity at the sum of the Base Rate plus the ---- Applicable Base Rate Margin less the applicable Commitment Fee Percentage. ---- The Applicable Base Rate Margin or the Applicable Eurodollar Rate Margin shall be the Base Rate Margin or the Eurodollar Rate Margin, as the case may be, set forth in the table above opposite Company's Consolidated Leverage Ratio for the four fiscal quarters ending as of the last day of the fiscal quarter immediately preceding the fiscal quarter during which the determination is being made as set forth in the Compliance Certificate delivered pursuant to subsection 6.1(iv)(b), any required adjustment to become automatically effective on the next succeeding Business Day following receipt by the Agent of such Compliance Certificate. If Company fails to deliver a Compliance Certificate by the time required by subsection 6.1(iv)(b), from such time the Compliance Certificate was required to be delivered until delivery of such Compliance Certificate, the Applicable Base Rate Margin and the Applicable Eurodollar Rate Margin shall automatically be adjusted to 1.00% per annum and 2.00% per annum, respectively.
Appears in 1 contract
Sources: Credit Agreement (Safeway Inc)
Interest on the Loans. A. Rate of Interest. Subject to the provisions of subsections 2.6 and 2.7, each Acquisition Term Loan and each Revolving Loan shall bear interest on the unpaid principal amount thereof from the date made through to maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate or Canadian Base Rate or the Adjusted Eurodollar Rate or Canadian Eurodollar Rate, as the case may be. Subject to the provisions of subsection 2.7, each Swing Line Loan shall bear interest on the unpaid principal amount thereof from the date made through to maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate. The applicable basis for determining the rate of interest with respect to any Acquisition Term Loan or any Revolving Loan shall be selected by the applicable Borrower Company initially at the time a Notice of Borrowing is given with respect to such Loan pursuant to subsection 2.1B, and the basis for determining the interest rate with respect to any Acquisition Term Loan or any Revolving Loan may be changed from time to time pursuant to subsection 2.2D. If on any day a an Acquisition Term Loan or a Revolving Loan is outstanding with respect to which notice has not been delivered to Administrative Agent in accordance with the terms of this Agreement specifying the applicable basis for determining the rate of interest, then for that day that Loan shall bear interest determined by reference to the Base Rate or Canadian Base Rate, as the case may be. Subject to the provisions of subsections 2.2E and 2.7, the Acquisition Term Loans and the Revolving Loans shall bear interest through maturity as follows:
(i) if a Base Rate Loan, then at the sum of the Base Rate plus the ---- Applicable Base Rate Margin;; or
(iiiii) if a Eurodollar Rate Loan, then at the sum of the Adjusted Eurodollar Rate plus the Applicable Eurodollar Margin. ---- Upon delivery of the Margin Determination Certificate by Company to Administrative Agent pursuant to subsection 6.1(xix), the Applicable Base Rate Margin and the Applicable Eurodollar Margin shall automatically be adjusted in accordance with such Margin Determination Certificate, such adjustment to become effective on the next succeeding Business Day following the receipt by Administrative Agent of such Margin Determination Certificate; provided that if -------- a Margin Determination Certificate is not delivered at the time required pursuant to subsection 6.1(xix), clause (ii) of the definitions of "Applicable Base Rate Margin; or ----
(iv) if a Canadian Eurodollar Rate Loan, then at the sum of the Canadian Eurodollar Rate plus the " and "Applicable Eurodollar Rate Margin", as the case may be, shall be applicable from such time until delivery of a succeeding Margin Determination Certificate; provided further that if a Margin Determination -------- ------- Certificate erroneously indicates an applicable margin more favorable to Company than should be afforded by the actual calculation of the Consolidated Pro Forma Leverage Ratio, Company shall promptly pay additional interest and letter of credit fees to correct for such error. ---- Subject to the provisions of subsections 2.2E and 2.7, the Swing Line Loans shall bear interest through to maturity at the sum of the Base Rate plus the ---- Applicable Base Rate Margin less the applicable Commitment Fee Percentage. ---- The Applicable Base Rate Margin or the Applicable Eurodollar Rate Margin shall be the Base Rate Margin or the Eurodollar Rate Margin, as the case may be, set forth in the table above opposite Company's Consolidated Leverage Ratio for the four fiscal quarters ending as of the last day of the fiscal quarter immediately preceding the fiscal quarter during which the determination is being made as set forth in the Compliance Certificate delivered pursuant to subsection 6.1(iv)(b), any required adjustment to become automatically effective on the next succeeding Business Day following receipt by the Agent of such Compliance Certificate. If Company fails to deliver a Compliance Certificate by the time required by subsection 6.1(iv)(b), from such time the Compliance Certificate was required to be delivered until delivery of such Compliance Certificate, the Applicable Base Rate Margin and the Applicable Eurodollar Rate Margin shall automatically be adjusted to 1.00% per annum and 2.00% per annum, respectively.
Appears in 1 contract
Sources: Credit Agreement (Sandhills Inc)
Interest on the Loans. A. Rate of Interest. Subject to the provisions of subsections 2.6 and 2.7, each Term Loan and each Revolving Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate or Canadian Base Rate or to the Adjusted Eurodollar Rate or Canadian Eurodollar Rate, as the case may be. Subject to the provisions of subsection 2.7, each Swing Line Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate. The applicable basis for determining the rate of interest with respect to any Term Loan or any Revolving Loan shall be selected by the applicable Borrower initially at the time a Notice of Borrowing is given with respect to such Loan pursuant to subsection 2.1B, and the basis for determining the interest rate with respect to any Term Loan or any Revolving Loan may be changed from time to time pursuant to subsection 2.2D. If on any day a Term Loan or Revolving Loan is outstanding with respect to which notice has not been delivered to the Agent in accordance with the terms of this Agreement specifying the applicable basis for determining the rate of interest, then for that day that Loan shall bear interest determined by reference to the Base Rate or Canadian Base Rate, as the case may be. Subject to the provisions of subsections 2.2E and 2.7, the Term Loans and the Revolving Loans shall bear interest through maturity as follows:
(ia) if a Base Rate Loan, then at the sum of the Base Rate plus ---- the ---- Applicable Base Rate Margin;; or
(iiib) if a Eurodollar Rate Loan, then at the sum of the Adjusted Eurodollar Rate plus the Applicable Eurodollar Rate Margin; or ----
(iv) if a Canadian Eurodollar Rate Loan, then at the sum of the Canadian Eurodollar Rate plus the Applicable Eurodollar Rate Margin. ---- Subject to the provisions of subsections 2.2E and 2.7, the Swing Line Loans shall bear interest through maturity at the sum Upon delivery of the Base Rate plus the ---- Applicable Base Rate Margin less the applicable Commitment Fee Percentage. ---- The Applicable Base Rate Margin or the Applicable Eurodollar Rate Margin shall be the Base Rate Margin or the Eurodollar Rate Margin, as the case may be, set forth in the table above opposite Company's Consolidated Leverage Ratio for the four fiscal quarters ending as of the last day of the fiscal quarter immediately preceding the fiscal quarter during which the determination is being made as set forth in the Compliance Determination Certificate delivered by Company to Administrative Agent pursuant to subsection 6.1(iv)(b6.1(xvii), any required adjustment to become automatically effective on the next succeeding Business Day following receipt by the Agent of such Compliance Certificate. If Company fails to deliver a Compliance Certificate by the time required by subsection 6.1(iv)(b), from such time the Compliance Certificate was required to be delivered until delivery of such Compliance Certificate, the Applicable Base Rate Margin and the Applicable Eurodollar Rate Margin shall automatically be adjusted in accordance with such Margin Determination Certificate, such adjustment to 1.00% per annum become effective on the first day of the Fiscal Quarter immediately succeeding the Fiscal Quarter in which Administrative Agent receives such Margin Determination Certificate; provided that if a Margin Determination Certificate -------- is not delivered at the time required pursuant to subsection 6.1(xvii), clause (iii) of the definitions "Applicable Base Rate Margin" and 2.00% per annum"Applicable Eurodollar Rate Margin", respectivelyas the case may be, shall be applicable from such time until delivery of the succeeding Margin Determination Certificate; provided -------- further that if a Margin Determination Certificate erroneously indicates an ------- applicable margin more favorable to Borrowers than should be afforded by the actual calculation of the Leverage Ratio, each Borrower shall promptly pay additional interest, letter of credit fees and all other applicable fees to correct for such error.
Appears in 1 contract
Interest on the Loans. A. Rate of Interest. Subject to the provisions of subsections 2.6 and 2.7, each Term Loan and each Revolving Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate or Canadian Base Rate or the Adjusted Eurodollar Rate or Canadian Eurodollar Rate, as the case may be. Subject to the provisions of subsection 2.7, each Swing Line Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base RateLIBOR. The applicable basis for determining the rate of interest with respect to any Term Loan or any Revolving Loan shall be selected by the applicable Borrower initially at the time a Notice of Borrowing is given with respect to such Loan pursuant to subsection 2.1B, and the basis for determining the interest rate with respect to any Term Loan or any Revolving Loan may be changed from time to time pursuant to subsection 2.2D. If on any day a Term Loan or Revolving Loan is outstanding with respect to which notice has not been delivered to Administrative Agent in accordance with the terms of this Agreement specifying the applicable basis for determining the rate of interest, then for that day that Loan shall bear interest determined by reference to the Base Rate or Canadian Base Rate, as the case may be. Subject to the provisions of subsections 2.2E and 2.7, the Term Loans and the Revolving Loans shall bear interest through maturity as follows:
(i) if a Base Rate Loan, then at the sum of the Base Rate plus the ---- Applicable Base Rate Margin;Margin for such Type of Loans; or
(iiiii) if a Eurodollar Rate LIBOR Loan, then at the sum of the Adjusted Eurodollar Rate plus the Applicable Eurodollar Rate Margin; or ----
(iv) if a Canadian Eurodollar Rate Loan, then at the sum of the Canadian Eurodollar Rate plus the Applicable Eurodollar Rate Margin. ---- Subject to the provisions of subsections 2.2E and 2.7, the Swing Line Loans shall bear interest through maturity at the sum of the Base Rate LIBOR plus the ---- Applicable Base Rate LIBOR Margin less for such Type of Loans. Upon delivery of the applicable Commitment Fee Percentage. ---- The Margin Determination Certificate by Borrower to Administrative Agent pursuant to subsection 6.1(xix), the Applicable Base Rate Margin or the and Applicable Eurodollar Rate LIBOR Margin shall automatically be the Base Rate adjusted in accordance with such Margin or the Eurodollar Rate MarginDetermination Certificate, as the case may be, set forth in the table above opposite Company's Consolidated Leverage Ratio for the four fiscal quarters ending as of the last day of the fiscal quarter immediately preceding the fiscal quarter during which the determination is being made as set forth in the Compliance Certificate delivered pursuant to subsection 6.1(iv)(b), any required such adjustment to become automatically effective on the next succeeding Business Day following receipt by the Agent of such Compliance Certificate. If Company fails to deliver Margin Reset Date; provided that (1) at any time a Compliance Margin -------- Determination Certificate by is not delivered at the time required by pursuant to subsection 6.1(iv)(b6.1(xix), from the time such time the Compliance Margin Determination Certificate was required to be delivered until delivery of such Compliance Margin Determination Certificate, with respect to Revolving Loans, the Applicable Base Rate Margin shall be 1.75% and the Applicable Eurodollar LIBOR Margin shall be 2.75%, and with respect to Term Loans, the Applicable Base Rate Margin shall automatically be adjusted 1.50% and the Applicable LIBOR Margin shall be 2.50%, and (2) if a Margin Determination Certificate erroneously indicates an applicable margin (x) more favorable to 1.00% per annum Borrower than should be afforded by the actual calculation of the Consolidated Total Leverage Ratio, Borrower shall promptly pay additional interest and 2.00% per annumletter of credit fees to correct for such error, respectivelyand (y) less favorable to Borrower than should be afforded by the actual calculation of the Consolidated Total Leverage Ratio, Lenders shall promptly reimburse Borrower an amount equal to such excess and letter of credit fees to correct for such error.
Appears in 1 contract
Interest on the Loans. A. Rate of Interest. Subject to the provisions of subsections 2.6 and 2.7, each Term Loan and each Revolving Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate or Canadian Base Rate or the Adjusted Eurodollar Rate or Canadian Eurodollar Rate, as the case may be. Subject to the provisions of subsection 2.7, each Swing Line Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate. The applicable basis for determining the rate of interest with respect to any Term Loan or any Revolving Loan shall be selected by the applicable Borrower Company initially at the time a Notice of Borrowing is given with respect to such Loan pursuant to subsection 2.1B, and the basis for determining the interest rate with respect to any Term Loan or any Revolving Loan may be changed from time to time pursuant to subsection 2.2D. If on any day a Term Loan or Revolving Loan is outstanding with respect to which notice has not been delivered to Administrative Agent in accordance with the terms of this Agreement specifying the applicable basis for determining the rate of interest, then for that day that Loan shall bear interest determined by reference to the Base Rate or Canadian Base Rate, as the case may be. Subject to the provisions of subsections 2.2E and 2.7, the Term Loans and the Revolving Loans shall bear interest through maturity as follows:
: (i) if a Base Rate Loan, then at the sum of the Base Rate plus the ---- Applicable Base Rate Margin;
; or (iiiii) if a Eurodollar Rate Loan, then at the sum of the Adjusted Eurodollar Rate plus the Applicable Eurodollar Rate Margin; or ----
(iv) if a Canadian Eurodollar Rate Loan, then at the sum of the Canadian Eurodollar Rate plus the Applicable Eurodollar Rate Margin. ---- Subject to the provisions of subsections 2.2E and 2.7, the Swing Line Loans shall bear interest through maturity at the sum of the Base Rate plus the ---- Applicable Base Rate Margin. Upon delivery of the Margin less Determination Certificate by Company to Administrative Agent pursuant to subsection 6.1(xix), the applicable Commitment Fee Percentage. ---- The Applicable Base Rate Margin or the and Applicable Eurodollar Rate Margin shall automatically be the Base Rate adjusted in accordance with such Margin or the Eurodollar Rate MarginDetermination Certificate, as the case may be, set forth in the table above opposite Company's Consolidated Leverage Ratio for the four fiscal quarters ending as of the last day of the fiscal quarter immediately preceding the fiscal quarter during which the determination is being made as set forth in the Compliance Certificate delivered pursuant to subsection 6.1(iv)(b), any required such adjustment to become automatically effective on the next succeeding Business Day following receipt by the Agent of such Compliance Certificate. If Company fails to deliver Margin Reset Date; provided that (1) at any -------- time a Compliance Margin Determination Certificate by is not delivered at the time required by pursuant to subsection 6.1(iv)(b6.1(xix), from the time such time the Compliance Margin Determination Certificate was required to be delivered until delivery of such Compliance Margin Determination Certificate, with respect to Tranche A Term Loans and Revolving Loans, the Applicable Base Rate Margin shall be 2.00% and the Applicable Eurodollar Rate Margin shall automatically be adjusted 3.00%, with respect to 1.00Tranche B Term Loans, the Applicable Base Rate Margin shall be 2.25% per annum and 2.00the Applicable Eurodollar Rate Margin shall be 3.25%, and with respect to Tranche C Term Loans, the Applicable Base Rate Margin shall be 2.75% per annumand the Applicable Eurodollar Rate Margin shall be 3.375%, respectivelyand (2) if a Margin Determination Certificate erroneously indicates an applicable margin (x) more favorable to Company than should be afforded by the actual calculation of the Consolidated Total Leverage Ratio, Company shall promptly pay additional interest and letter of credit fees to correct for such error, and (y) less favorable to Company than should be afforded by the actual calculation of the Consolidated Total Leverage Ratio, Lenders shall promptly reimburse Company an amount equal to such excess interest and letter of credit fees to correct for such error.
Appears in 1 contract
Interest on the Loans. A. Rate of Interest. Subject to the provisions of subsections 2.6 and 2.7, each Term Loan and each Revolving Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate or Canadian Base Rate or the Adjusted Eurodollar Rate or Canadian Eurodollar Rate, as the case may be. Subject to the provisions of subsection 2.7, each Swing Line Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate. The applicable basis for determining the rate of interest with respect to any Term Loan or any Revolving Loan shall be selected by the applicable Borrower initially at the time a Notice of Borrowing is given with respect to such Loan pursuant to subsection 2.1B, and the basis for determining the interest rate with respect to any Term Loan or any Revolving Loan may be changed from time to time pursuant to subsection 2.2D. If on any day a Term Loan or Revolving Loan is outstanding with respect to which notice has not been delivered to Administrative Agent in accordance with the terms of this Agreement specifying the applicable basis for determining the rate of interest, then for that day that Loan shall bear interest determined by reference to the Base Rate or Canadian Base Rate, as the case may be. .
(i) Subject to the provisions of subsections 2.2E and 2.7, the Term Loans and the Revolving Loans AXELs Series B shall bear interest through maturity as follows:
(ia) if a Base Rate Loan, then at the sum of the Base Rate plus ---- the ---- Applicable Base Rate Margin;Margin for AXELs Series B; or
(iiib) if a Eurodollar Rate Loan, then at the sum of the Adjusted Eurodollar Rate plus the Applicable Eurodollar Rate Margin; or ----Margin for AXELs ---- Series B.
(ivii) if a Canadian Eurodollar Rate Loan, then at the sum of the Canadian Eurodollar Rate plus the Applicable Eurodollar Rate Margin. ---- Subject to the provisions of subsections 2.2E and 2.7, the Swing Line Loans AXELs Series C shall bear interest through maturity as follows:
(a) if a Base Rate Loan, then at the sum of the Base Rate plus ---- the ---- Applicable Base Rate Margin less for AXELs Series C; or
(b) if a Eurodollar Rate Loan, then at the applicable Commitment Fee Percentage. ---- The Applicable Base sum of the Adjusted Eurodollar Rate Margin or plus the Applicable Eurodollar Rate Margin for AXELs ---- Series C.
(iii) Subject to the provisions of subsections 2.2E and 2.7, the AXELs Series D shall be bear interest through maturity as follows:
(a) if a Base Rate Loan, then at the sum of the Base Rate Margin or the Eurodollar Rate Margin, as the case may be, set forth in the table above opposite Company's Consolidated Leverage Ratio for the four fiscal quarters ending as of the last day of the fiscal quarter immediately preceding the fiscal quarter during which the determination is being made as set forth in the Compliance Certificate delivered pursuant to subsection 6.1(iv)(b), any required adjustment to become automatically effective on the next succeeding Business Day following receipt by the Agent of such Compliance Certificate. If Company fails to deliver a Compliance Certificate by the time required by subsection 6.1(iv)(b), from such time the Compliance Certificate was required to be delivered until delivery of such Compliance Certificate, plus ---- the Applicable Base Rate Margin and for AXELs Series D; or
(b) if a Eurodollar Rate Loan, then at the sum of the Adjusted Eurodollar Rate plus the Applicable Eurodollar Rate Margin shall automatically be adjusted to 1.00% per annum and 2.00% per annum, respectively.for AXELs ---- Series D.
Appears in 1 contract
Sources: Credit Agreement (Sealy Corp)
Interest on the Loans. A. Rate of InterestRATE OF INTEREST. Subject to the provisions of subsections 2.6 and 2.7, each Term B Loan, each Supplemental Term Loan, each LC Facility Loan and each Revolving Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate or Canadian Base Rate or the Adjusted Eurodollar Rate or Canadian Eurodollar LIBOR Rate, as the case may be. Subject to the provisions of subsection 2.7, each Swing Line Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate. The applicable basis for determining the rate of interest with respect to any Term B Loan, any Supplemental Term Loan or any Revolving Loan shall be selected by the applicable Borrower initially at the time a Notice of Borrowing is given with respect to such Loan pursuant to subsection 2.1B, and the basis for determining the interest rate with respect to any Term B Loan, any Supplemental Term Loan or any Revolving Loan may be changed from time to time pursuant to subsection 2.2D. If on any day a Term B Loan, Supplemental Term Loan or Revolving Loan is outstanding with respect to which notice has not been delivered to Administrative Agent in accordance with the terms of this Agreement specifying the applicable basis for determining the rate of interest, then for that day that Loan shall bear interest determined by reference to the Base Rate or Canadian Base Rate, as the case may be. .
(i) Subject to the provisions of subsections 2.2E 2.2E, 2.2G and 2.7, the Term Loans and the Revolving Loans shall bear interest through maturity as follows:
(ia) if a Base Rate Loan, then at the sum of the Base Rate plus the ---- Applicable Base Rate Margin;Margin set forth in the table below opposite the Consolidated Leverage Ratio for the four Fiscal Quarter period for which the applicable Pricing Certificate has been delivered pursuant to subsection 6.1(iv); or
(iiib) if a Eurodollar LIBOR Rate Loan, then at the sum of the Adjusted Eurodollar LIBOR Rate plus the Applicable Eurodollar Rate Margin; or ----
(iv) if a Canadian Eurodollar Rate Loan, then at the sum of the Canadian Eurodollar Rate plus the Applicable Eurodollar Rate Margin. ---- Subject to the provisions of subsections 2.2E and 2.7, the Swing Line Loans shall bear interest through maturity at the sum of the Base Rate plus the ---- Applicable Base LIBOR Rate Margin less the applicable Commitment Fee Percentage. ---- The Applicable Base Rate Margin or the Applicable Eurodollar Rate Margin shall be the Base Rate Margin or the Eurodollar Rate Margin, as the case may be, set forth in the table above below opposite Company's the Consolidated Leverage Ratio for the four fiscal quarters ending as of the last day of the fiscal quarter immediately preceding the fiscal quarter during Fiscal Quarter period for which the determination is being made as set forth in the Compliance applicable Pricing Certificate has been delivered pursuant to subsection 6.1(iv)(b), any required adjustment 6.1(iv): CONSOLIDATED LIBOR RATE BASE LEVERAGE RATIO MARGIN RATE MARGIN -------------- ---------- ----------- Greater than or equal to become automatically effective on the next succeeding Business Day following receipt by the Agent of such Compliance Certificate. If Company fails to deliver a Compliance Certificate by the time required by subsection 6.1(iv)(b), from such time the Compliance Certificate was required to be delivered until delivery of such Compliance Certificate, the Applicable Base Rate Margin and the Applicable Eurodollar Rate Margin shall automatically be adjusted to 1.003.50:1.00 3.50% per annum and 2.00% per annum, respectively.2.25%
Appears in 1 contract
Sources: Credit Agreement (Brand Services)