CREDIT AGREEMENT Dated April 1, 2015 among AIR T, INC. MOUNTAIN AIR CARGO, INC. GLOBAL GROUND SUPPORT, LLC CSA AIR, INC. GLOBAL AVIATION SERVICES, LLC and BRANCH BANKING AND TRUST COMPANYCredit Agreement • April 7th, 2015 • Air T Inc • Air courier services • North Carolina
Any increase or decrease in the Applicable Margin resulting from a change in the Consolidated Leverage Ratio shall become effective as of the second Business Day immediately following the date a Compliance Certificate is required to be delivered pursuant to Section 6.1(c); provided, however, that if a Compliance Certificate is not delivered when due in accordance with such Section, then, at the Bank’s election, Pricing Tier III shall apply as of the second Business Day after the date on which such Compliance Certificate was required to have been delivered and shall remain in effect until the second Business Day immediately following the date on which such Compliance Certificate is delivered in accordance with Section 6.1(c). The Applicable Margin in effect from the Closing Date through the second Business Day immediately following the date a Compliance Certificate is required to be delivered pursuant to Section 6.1(c) for the fiscal quarter ending March 31, 2015 shall be determined bas
