Interest Rate Margins. As of the Closing Date and during any period in which a Default or Event of Default shall have occurred and be continuing, the Base Rate Margin shall be 1.50% and the Eurodollar Margin shall be 3.0%. Commencing with the end of the first Fiscal Quarter following the Closing Date and continuing on the last day of each succeeding Fiscal Quarter, and as long as no Default or Event of Default shall have occurred and be continuing, the Base Rate Margin and the Eurodollar Margin shall be subject to change (each such change, a "Margin Change") by reference to Borrower's Leverage Ratio as of the last day of any such Fiscal Quarter as follows: LEVERAGE RATIO BASE RATE MARGIN EURODOLLAR MARGIN Equal to or greater 1.50% 3.00% than 3.75 to 1.0 (or if a Default or Event of Default shall exist) Equal to or greater 1.25% 2.75% than 3.50 to 1.0 but less than 3.75 to 1.0 Equal to or greater 1.00% 2.50% than 3.00 to 1.0 but less than 3.50 to 1.0 Less than 3.0 to .75% 2.25% 1.0
Interest Rate Margins. As used herein the terms “Applicable Prime Rate Margin”, “Applicable Eurocurrency Margin” and “Applicable Commitment Fee Rate” shall mean the particular rate per annum determined by the Administrative Agent in accordance with the Pricing Grid Table which appears below, based on the Borrower’s ratio of Consolidated Total Funded Debt as of the end of each fiscal quarter to Consolidated EBITDA for the Testing Period most recently ended and the following provisions:
Interest Rate Margins. The applicable Margin is indicated in the Table. The Applicable Index Margin is subtracted from the Index Rate in the case of Floating Rate Loans, and the Applicable LIBOR Margin is added to the LIBOR Rate in the case of LIBOR Loans. The Applicable Index Margin for Floating Rate Loans shall be 50 basis points (.50%) at all times. The Applicable LIBOR Margin for LIBOR Loans shall adjust at the end of each applicable Eurodollar Interest Period but, in no event, earlier than five (5) days after the receipt by the Agent of the Borrower's compliance certificate confirming the Borrower's financial ratios for the preceding quarter.
Interest Rate Margins. As used herein the terms "APPLICABLE PRIME RATE MARGIN", "APPLICABLE EUROCURRENCY MARGIN" and "APPLICABLE COMMITMENT FEE" shall mean the particular rate per annum determined by the Administrative Agent in accordance with the Pricing Grid Table which appears below (the "PRICING GRID TABLE"), based on the Borrower's ratio of Consolidated Total Debt to Consolidated EBITDA, as computed in accordance with section 9.7 hereof, and such Pricing Grid Table, and the following provisions:
Interest Rate Margins. As used herein the terms "Applicable Prime Rate Margin" and "Applicable Eurodollar Margin" shall mean the applicable rates determined in accordance with the following provisions:
Interest Rate Margins. The pricing table in subsection 1.2(A) of the Credit Agreement is hereby deleted in its entirety and replaced with the following:
Interest Rate Margins. Schedule 1.01-1 to the Credit Agreement is revised so that it shall read as follows: "SCHEDULE 1.01-1
Interest Rate Margins. (i) The base rate margin applicable to Revolving Credit Loans (the "Revolving Credit Base Rate Margin") on the Closing Date shall equal one hundred twenty-five thousandths percent (0.125%). The base rate margin applicable to Term Loans (the "Term Loan Base Rate Margin") on the Closing Date shall equal one hundred twenty-five thousandths percent (0.125%). The Euro-Rate margin applicable to Revolving Credit Loans (the "Revolving Credit Euro-Rate Margin") on the Closing Date shall equal two and thirty hundredths percent (2.30%). The Euro-Rate margin applicable to Term Loans (the "Term Loan Euro-Rate Margin") on the Closing Date shall equal two and thirty hundredths percent (2.30%). After the Closing Date, the Revolving Credit and Term Loan Base Rate Margins and the Revolving Credit and Term Loan Euro-Rate Margins shall be based upon the Leverage Ratio for the Borrower's immediately preceding fiscal quarter, as shown on the Borrowers' most recently delivered financial statements pursuant to Section 8.3(b) or 8.3(c), as follows: Revolving Term Loan Revolving Term Loan Credit Euro-Rate Credit Base Base Rate Leverage Ratio Euro-Rate Margin Margin Rate Margin Margin -------------- ---------------- ------ ----------- ------ Equal to or greater than 2.00 to 1.00 2.30% 2.30% 0.125% 0.125% Less than 1.99 to 1.00 but greater than or equal to 1.75 to 1.00 2.10% 2.10% 0% 0% Less than 1.74 to 1.00 but greater than 1.90% 1.90% 0% 0% 1.50 to 1.00 Less than 1.49 to 1.00 but greater than 1.25 1.70% 1.70% 0% 0% Equal to or less than 1.24 to 1.00 1.50% 1.50% 0% 0%
(ii) Except as noted above, in the event the Leverage Ratio has changed such that a different rate is applicable, the rate shall be effective as of the first Settlement Date following receipt by the Agent of the financial statements, notwithstanding that such effective date occurs during a Euro-Rate Interest Period. In the event the financial statements of the Borrowers with respect to any fiscal quarter or fiscal year are not delivered as required under Sections 8.3(b) and 8.3(c), any rate reduction then in effect shall continue until the first Settlement Date following receipt by the Agent of financial statements reflecting that a different Base Rate Margin, Euro-Rate Margin or Commitment Fee is applicable as a result of a change in the Leverage Ratio; provided, that if such financial statements indicate that the Euro-Rate Margin, Base Rate Margin or Commitment Fee should have been higher than the margins or fee whi...
Interest Rate Margins. As used herein the terms "APPLICABLE PRIME RATE MARGIN" and "APPLICABLE LIBOR MARGIN" shall mean the applicable rates determined in accordance with the following provisions.
Interest Rate Margins. (a) On the Closing Date and continuing until the effective date of a Margin Change, the margin applicable to Base Rate Loans (the "Base Rate Margin") shall be one-half of one percentage point (.50%) and the margin applicable to Eurodollar Loans (the "Eurodollar Margin") shall be two and one-quarter of one percentage points (2.25%).
(a) Commencing with the Fiscal Quarter ending March 31, 1996, and as long as no Default or Event of Default shall have occurred and be continuing, the Base Rate Margin and the Eurodollar Margin shall be subject to change (a "Margin Change") as of the end of each Fiscal Quarter by reference to the Debt Service Coverage Ratio and Debt to Worth Ratio as of the end of such Fiscal Quarter as follows:
(i) If the Debt Service Coverage Ratio is greater than 1.25 to 1.0 and the Debt to Worth Ratio is:
(a) greater than 5.0 to 1.0, then the the Base Rate Margin shall be one-half of one percentage point (.50%) and the Eurodollar Margin shall be two and one-quarter percentage points (2.25%); or
(b) less than 5.0 to 1.0 but greater than or equal to 4.0 to 1.0, then the the Base Rate Margin shall be one-quarter of one percentage point (.25%) and the Eurodollar Margin shall be two percentage points (2.00%); or
(c) less than 4.0 to 1.0, then the the Base Rate Margin shall be zero (0) and the Eurodollar Margin shall be one and three-quarters percentage points (1.75%).
(ii) If the Debt Service Coverage Ratio is greater than 1.10 to 1.0 but less than or equal to 1.25 to 1.0 and the Debt to Worth Ratio is:
(a) greater than 5.0 to 1.0, then the the Base Rate Margin shall be three-quarters of one percentage point (.75%) and the Eurodollar Margin shall be two and one-half percentage points (2.50%); or
(b) less than 5.0 to 1.0 but greater than or equal to 4.0 to 1.0, then the the Base Rate Margin shall be one-half of one percentage point (.50%) and the Eurodollar Margin shall be two and one-quarter percentage points (2.25%); or
(c) less than 4.0 to 1.0, then the the Base Rate Margin shall be one-quarter of one percentage point (.25%) and the Eurodollar Margin shall be two and one-quarter percentage points (2.25%).
(iii) If the Debt Service Coverage Ratio is greater than 1.0 to 1.0 but less than or equal to 1.10 to 1.0 and the Debt to Worth Ratio is:
(a) greater than 5.0 to 1.0, then the the Base Rate Margin shall be one percentage point (1.0%) and the Eurodollar Margin shall be three percentage points (3.00%); or
(b) less than 5.0 to 1.0 but greater tha...
