Common use of Margin adjustments Clause in Contracts

Margin adjustments. Adjustments to the Applicable Margins and the Applicable Fee Percentages, based on Schedule 1.1, shall be implemented on a quarterly basis as follows: (a) Such adjustments shall be given prospective effect only, effective as to all Advances outstanding hereunder and the Applicable Fee Percentage, upon the date of delivery of the financial statements under Sections 7.1(a) and 7.1(b) hereunder and the Covenant Compliance Report under Section 7.2(a) hereof, in each case establishing applicability of the appropriate adjustment, in each case with no retroactivity or claw-back. In the event the Company fails timely to deliver such financial statements or the Covenant Compliance Report and such failure continues for three (3) days, then (but without affecting the Event of Default resulting therefrom) from the date delivery of such financial statements and report was required until such financial statements and report are delivered, the margins and fee percentages shall be at the highest level on the Pricing Matrix attached to this Agreement as Schedule 1.1. (b) FROM THE EFFECTIVE DATE UNTIL THE REQUIRED DATE OF DELIVERY (OR, IF EARLIER, DELIVERY) UNDER SECTION 7.1(B) OF THE COMPANY'S FINANCIAL STATEMENTS FOR THE FISCAL QUARTER ENDING DECEMBER 31, 2003 MARGINS AND FEE PERCENTAGES SHALL BE THOSE SET FORTH UNDER THE LEVEL II COLUMN OF THE PRICING MATRIX ATTACHED TO THIS AGREEMENT AS SCHEDULE 1.1. THEREAFTER, ALL MARGINS AND FEE PERCENTAGES SHALL BE BASED UPON THE COMPANY'S QUARTERLY FINANCIAL STATEMENTS AND COVENANT COMPLIANCE REPORTS, SUBJECT TO RECALCULATION AS PROVIDED IN SUBSECTION 10.4(A) ABOVE.

Margin adjustments. Adjustments to the Applicable Margins and the Applicable Fee Percentages, based on Schedule 1.1, shall be implemented on a quarterly basis as follows: (a) Such adjustments shall be given prospective effect only, effective as to all Advances outstanding hereunder and the Applicable Fee Percentage, upon the date of delivery of the financial statements under Sections 7.1(a) and 7.1(b) hereunder and the Covenant Compliance Report under Section 7.2(a) hereof, in each case establishing applicability of the appropriate adjustment, in each case with no retroactivity or claw-back. In the event the Company fails timely to deliver such financial statements or the Covenant Compliance Report and such failure continues for three (3) days, then (but without affecting the Event of Default resulting therefrom) from the date delivery of such financial statements and report was required until such financial statements and report are delivered, the margins and fee percentages shall be at the highest level on the Pricing Matrix attached to this Agreement as Schedule 1.1. (b) FROM THE EFFECTIVE DATE UNTIL THE REQUIRED DATE OF DELIVERY (OR, IF EARLIER, DELIVERY) UNDER SECTION 7.1(B) OF THE COMPANY'S FINANCIAL STATEMENTS FOR THE FISCAL QUARTER ENDING DECEMBER 31SEPTEMBER 30, 2003 2002, THE MARGINS AND FEE PERCENTAGES SHALL BE THOSE SET FORTH UNDER THE LEVEL II III COLUMN OF THE PRICING MATRIX ATTACHED TO THIS AGREEMENT AS SCHEDULE 1.1. THEREAFTER, ALL MARGINS AND FEE PERCENTAGES SHALL BE BASED UPON THE COMPANY'S QUARTERLY FINANCIAL STATEMENTS AND COVENANT COMPLIANCE REPORTS, SUBJECT TO RECALCULATION AS PROVIDED IN SUBSECTION 10.4(A) ABOVE.

Margin adjustments. Adjustments to the Applicable Margins and the Applicable Fee Percentages, based on Schedule 1.1, shall be implemented on a quarterly basis as follows: (a) Such adjustments shall be given prospective effect only, effective as to all Advances outstanding hereunder and the Applicable Fee Percentage, upon the date of delivery of the financial statements under Sections 7.1(a) and 7.1(b) hereunder and the Covenant Compliance Report under Section 7.2(a) hereof, in each case establishing applicability of the appropriate adjustment, in each case with no retroactivity or claw-back. In the event the Company fails timely to deliver such financial statements or the Covenant Compliance Report and such failure continues for three (3) days, then (but without affecting the Event of Default resulting therefrom) from the date delivery of such financial statements and report was required until such financial statements and report are delivered, the margins and fee percentages shall be at the highest next higher level (if any) on the Pricing Matrix attached to this Agreement as Schedule 1.1. (b) FROM THE EFFECTIVE DATE UNTIL THE REQUIRED DATE OF DELIVERY From the Effective Date until the required date of delivery (ORor, IF EARLIERif earlier, DELIVERYdelivery) UNDER SECTION 7.1(Bunder Section 7.1(b) OF THE COMPANY'S FINANCIAL STATEMENTS FOR THE FISCAL QUARTER ENDING DECEMBER of the Company's financial statements for the fiscal quarter ending June 30, 2000, the margins and fee percentages shall be those set forth under the Level IV column of the Pricing Matrix attached to this Agreement as Schedule 1.1; provided however that in the event the Company's financial statements for the quarter ending March 31, 2003 MARGINS AND FEE PERCENTAGES SHALL BE THOSE SET FORTH UNDER THE LEVEL II COLUMN OF THE PRICING MATRIX ATTACHED TO THIS AGREEMENT AS SCHEDULE 1.12000 demonstrate that the Consolidated Leverage Ratio exceeds 3.0 to 1, the Applicable Margin shall then be adjusted in accordance with the Pricing Matrix. THEREAFTERThereafter, ALL MARGINS AND FEE PERCENTAGES SHALL BE BASED UPON THE COMPANY'S QUARTERLY FINANCIAL STATEMENTS AND COVENANT COMPLIANCE REPORTSall margins and fee percentages shall be based upon the Company's quarterly financial statements and Covenant Compliance Reports, SUBJECT TO RECALCULATION AS PROVIDED IN SUBSECTION 10.4(Asubject to recalculation as provided in Subsection 4.1(a) ABOVEabove.

Margin adjustments. Adjustments to the Applicable Margins and the Applicable Fee Percentages, based on Schedule 1.1, shall be implemented on a quarterly basis as follows: (a) Such adjustments shall be given prospective effect only, effective as to all Advances outstanding hereunder and the Applicable Fee Percentage, upon the date of delivery of the financial statements under Sections 7.1(a) and 7.1(b) hereunder and the Covenant Compliance Report under Section 7.2(a) hereof, in each case establishing applicability of the appropriate adjustment, in each case with no retroactivity or claw-back. In the event the Company fails timely to deliver such financial statements or the Covenant Compliance Report and such failure continues for three (3) days, then (but without affecting the Event of Default resulting therefrom) from the date delivery of such financial statements and report was required until such financial statements and report are delivered, the margins and fee percentages shall be at the highest next higher level (if any) on the Pricing Matrix attached to this Agreement as Schedule 1.1. (b) FROM THE EFFECTIVE DATE UNTIL THE REQUIRED DATE OF DELIVERY From the Effective Date until the required date of delivery (ORor, IF EARLIERif earlier, DELIVERYdelivery) UNDER SECTION 7.1(Bunder Section 7.1(b) OF THE COMPANY'S FINANCIAL STATEMENTS FOR THE FISCAL QUARTER ENDING DECEMBER 31of the Company's financial statements for the fiscal quarter ending September 30, 2003 MARGINS AND FEE PERCENTAGES SHALL BE THOSE SET FORTH UNDER THE LEVEL 2002, the margins and fee percentages shall be those set forth under the Level II COLUMN OF THE PRICING MATRIX ATTACHED TO THIS AGREEMENT AS SCHEDULE column of the Pricing Matrix attached to this Agreement as Schedule 1.1. THEREAFTERThereafter, ALL MARGINS AND FEE PERCENTAGES SHALL BE BASED UPON THE COMPANY'S QUARTERLY FINANCIAL STATEMENTS AND COVENANT COMPLIANCE REPORTSall margins and fee percentages shall be based upon the Company's quarterly financial statements and Covenant Compliance Reports, SUBJECT TO RECALCULATION AS PROVIDED IN SUBSECTION 10.4(Asubject to recalculation as provided in Subsection 10.4(a) ABOVEabove.