FILO Applicable Margin means 9.00% per annum.
FILO Applicable Margin means a percentage per annum equal to (a) from and after the Second Restatement Date until the first FILO Adjustment Date thereafter, the applicable percentage set forth in Level II of the pricing grid below, and (b) thereafter, the applicable percentage in the applicable Level of pricing grid below, based upon Consolidated EBITDA for the then most-recently ended Test Period as of the most recent FILO Adjustment Date: I Greater than the FILO Applicable Margin EBITDA Threshold for the applicable Test Period 8.75 % 7.75 % II Less than or equal to the FILO Applicable Margin EBITDA Threshold for the applicable Test Period 9.75 % 8.75 % The calculation of Consolidated EBITDA shall be based upon the Compliance Certificate and accompanying financial statements delivered by the Borrower to the Administrative Agent and the FILO Documentation Agent by the date required under this Agreement. The movement between Levels in the pricing grid shall occur on the first calendar day of the month following the month in which the respective Compliance Certificate and accompanying financial statements (commencing with the Compliance Certificate and accompanying financial statements for the Fiscal Quarter ending May 3, 2025) have been delivered to the Administrative Agent and the FILO Documentation Agent (a “FILO Adjustment Date”). For example, if the Borrower delivers the Compliance Certificate and accompanying financial statements for the Fiscal Quarter ending May 3, 2025 during the month of July 2025, then any applicable Level change would be implemented on the first calendar day in August 2025. Notwithstanding the foregoing, (x) if the Borrower fails to deliver the financial statements and the related Compliance Certificate necessary to determine the relevant Level under the pricing grid by the date required under this Agreement with respect to any Test Period, then at the FILO Documentation Agent’s election, the FILO Applicable Margin shall be a percentage per annum equal to the applicable percentage set forth in Level II of the pricing grid above until such financial statements and Compliance Certificate are delivered (in which event any applicable Level change would be implemented on the first calendar day of the month following such delivery), and (y) no reduction to the FILO Applicable Margin shall become effective at any time when an Event of Default has occurred and is continuing. If, as a result of any restatement of or other adjustment to the financial statements o...
FILO Applicable Margin in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
More Definitions of FILO Applicable Margin
FILO Applicable Margin means (1) 7.50% in the case of ABR loans and (2) 8.50% in the case of Adjusted LIBOR loans. With respect to all Loans: The interest period for the Revolving Loans (for Adjusted LIBOR borrowings) shall be one (1) month, two (2) months, three (3) months, six (6) months or, if agreed by all Revolving Lenders, twelve (12) months. The interest period for the FILO Loans (for Adjusted LIBOR borrowings) shall be one (1) month, two (2) months, three (3) months, or, if agreed by all FILO Lenders, six (6) months or twelve (12) months. Interest on the Revolving Loans or FILO Loans maintained as ABR loans shall be payable quarterly in arrears and upon prepayment. Interest on the Revolving Loans or FILO Loans maintained as Adjusted LIBOR loans shall be paid on the last day of the applicable interest period and upon prepayment, but no less frequently than three (3) months in arrears.
FILO Applicable Margin means (i) with respect to ABR FILO Loans, 7.00% per annum, and (ii) with respect to Eurodollar FILO Loans, 8.00% per annum, and