Interest and Applicable Margins. (a) Borrower shall pay interest to Agent, for the ratable benefit of Lenders with respect to the various Loans made by each Lender, in arrears on each applicable Interest Payment Date, at the following rates: (i) with respect to the Revolving Loans which are designated as Index Rate Loans (and for all other Obligations not otherwise set forth below), the Index Rate plus the Applicable Revolver Index Margin per annum or, with respect to Revolving Loans which are designated as LIBOR Loans, at the election of Borrower, the applicable LIBOR Rate plus the Applicable Revolver LIBOR Margin per annum; and (ii) with respect to such portion of the Term Loans designated as an Index Rate Loan, the Index Rate plus the Applicable Term Loan Index Margin per annum or, with respect to such portion of the Term Loans designated as a LIBOR Loan, the applicable LIBOR Rate plus the Applicable Term Loan LIBOR Margin per annum. The Applicable Margins shall be as follows: Applicable Revolver Index Margin 2.75 % Applicable Revolver LIBOR Margin 3.75 % Applicable Term Loan Index Margin 2.75 % Applicable Term Loan LIBOR Margin 3.75 % 1 Borrower to supply account information. provided; however, the Applicable Margins, with respect to the Term Loan, shall be adjusted (up or down) prospectively on a quarterly basis as determined by Holdings’ and its Subsidiaries’ consolidated financial performance. Adjustments in Applicable Margins will be determined by reference to the following grids: Level I ³ 4.00 to 1.00 3.25 % 4.25 % Level II ³ 2.50 to 1.00, and < 4.00 to 1.00 2.75 % 3.75 % Level III < 2.50 to 1.00 2.25 % 3.25 % All adjustments in the Applicable Margins shall be implemented quarterly on a prospective basis, five (5) Business Days after the date of delivery to Lenders of the quarterly unaudited Financial Statements evidencing the need for an adjustment. Concurrently with the delivery of those Financial Statements, Borrower shall deliver to Agent and Lenders a certificate, signed by its chief financial officer, setting forth in reasonable detail the basis for the continuance of, or any change in, the Applicable Margins. If any Default or an Event of Default has occurred and is continuing at the time any reduction in the Applicable Margins is to be implemented, that reduction shall be deferred until the first day of the first calendar month following the date on which all Defaults or Events of Default are waived or cured.
(b) If any payment on any Loan becomes due and payable on a da...
Interest and Applicable Margins. (a) Borrower shall pay interest to Agent, for the ratable benefit of Lenders in accordance with the various Loans being made by each Lender, in arrears on each applicable Interest Payment Date, at the following rates: (i) with respect to the Revolving Credit Advances, the Index Rate plus the Applicable Revolver Index Margin per annum or, at the election of Borrower, the applicable LIBOR Rate plus the Applicable Revolver LIBOR Margin per annum, based on the aggregate Revolving Credit Advances outstanding from time to time; and (ii) with respect to the Swing Line Loan, the Index Rate plus the Applicable Revolver Index Margin per annum. As of the Closing Date, the Applicable Margins are as follows: ------------------------------------------------------ Applicable Revolver Index Margin 1.75% ------------------------------------------------------ Applicable Revolver LIBOR Margin 3.00% ------------------------------------------------------ Applicable L/C Margin 3.00% ------------------------------------------------------ The Applicable Margins shall be adjusted (up or down) prospectively on a quarterly basis as determined by Borrower's consolidated financial performance, commencing with the first day of the first calendar month that occurs more than 5 days after delivery of Borrower's quarterly Financial Statements to Lenders for the Fiscal Quarter ending September 30, 2003. Adjustments in Applicable Margins shall be determined by reference to the following grids: ---------------------------------------------------------------------- If Total Leverage Level of Ratio is: Applicable Margins: ---------------------------------------------------------------------- >=4.75 to 1.0 Level I ---------------------------------------------------------------------- >=4.00 to 1.0, but Level II <4.75 to 1.0 ---------------------------------------------------------------------- <4.00 to 1.0 Level III ---------------------------------------------------------------------- ---------------------------------------------------------------------- Applicable Margins ---------------------------------------------------------------------- Level I Level II Level III ---------------------------------------------------------------------- Applicable Revolver Index Margin 2.00% 1.75% 1.50% ---------------------------------------------------------------------- Applicable Revolver LIBOR Margin 3.25% 3.00% 2.75% ---------------------------------------------------------------------- Applicable L/C M...
Interest and Applicable Margins. (a) Borrower shall pay interest to Agent, for the ratable benefit of Lenders in accordance with the various Loans being made by each Lender, in arrears on each applicable Interest Payment Date, at the following rates: (i) with respect to the Revolving Credit Advances, the Index Rate plus the Applicable Revolver Index Margin per annum or, at the election of Borrower, the applicable LIBOR Rate plus the Applicable Revolver LIBOR Margin per annum, based on the aggregate Revolving Credit Advances outstanding from time to time; and (ii) with respect to the Swing Line Loan, the Index Rate plus the Applicable Revolver Index Margin per annum. As of the Closing Date, the Applicable Margins are as follows: Applicable Revolver Index Margin 1.75% Applicable Revolver LIBOR Margin 3.00% Applicable L/C Margin 3.00% The Applicable Margins shall be adjusted (up or down) prospectively on a quarterly basis as determined by Borrower's consolidated financial performance, commencing with the first day of the first calendar month that occurs more than 5 days after delivery of Borrower's quarterly Financial Statements to Lenders for the Fiscal Quarter ending September 30, 2003. Adjustments in Applicable Margins shall be determined by reference to the following grids: If Total Leverage Level of Ratio is: Applicable Margins: -------- ------------------ > or =4.75 to 1.0 Level I > or =4.00 to 1.0, but Level II <4.75 to 1.0
Interest and Applicable Margins. (a) Borrower shall pay interest to Agent, for the ratable benefit of Lenders, in arrears on each applicable Interest Payment Date, at (i) the Base Rate plus the Applicable Base Rate Margin per annum or, (ii) at the election of Borrower and subject to the other provisions of this Agreement respecting the availability of LIBOR Rate, the applicable LIBOR Rate plus the Applicable LIBOR Margin per annum. As of the Closing Date and until adjusted as described below, the Applicable Margins are as follows: Applicable Base Rate Margin 3.50% Applicable LIBOR Margin 4.50% The Applicable Margins shall, commencing on the first day of the month following the first anniversary of the Closing Date, be adjusted prospectively on a quarterly basis as determined by Borrower's financial performance, commencing on the fifth (5th) Business Day after delivery of Borrower's quarterly Financial Statements. Adjustments in Applicable Margins shall be determined by reference to the following grid: APPLICABLE BASE APPLICABLE IF TOTAL LEVERAGE RATIO IS: RATE MARGIN LIBOR MARGIN --------------------------- --------------- ------------ > or = 4.0: 1.0 3.50% 4.50% < 4.0: 1.0, but > or = 3.5: 1.0 3.25% 4.25% < 3.5: 1.0, but > or = 3.0: 1.0 3.00% 4.00% < 3.0: 1.0 2.75% 3.75% Failure to timely deliver such Financial Statements shall at the election of Agent, in addition to any other remedy provided for in this Agreement, result in an increase in the Applicable Margins to the highest level set forth in the foregoing grid, until the first day of the first calendar month following the delivery of those Financial Statements demonstrating that such an increase is not required. If an Event of Default has occurred and is continuing at the time any reduction in the Applicable Margins is to be implemented, that reduction shall be deferred until the first day of the first calendar month following the date on which such Event of Default is waived or cured.
(b) If any payment becomes due and payable on a day other than a Business Day, the maturity thereof will be extended to the next succeeding Business Day (except as set forth in the definition of LIBOR Period and except for purpose of calculating financial covenant compliance) payable at the then applicable rate during such extension.
(c) All computations of Fees calculated on a per annum basis and interest with respect to the Base Rate shall be made by Agent on the basis of a 365/366-day year and all computations of interest with respect to the LIBOR ...
Interest and Applicable Margins. 4 1.3. Fees...........................................................................................6 1.4. Payments.......................................................................................7 1.5. Prepayments....................................................................................8 1.6. Maturity.......................................................................................9
Interest and Applicable Margins. (a) Borrower shall pay interest to Agent, for the ratable benefit of Lenders in accordance with the various Loans being made by each Lender, in arrears on each applicable Interest Payment Date, at the Index Rate plus the Applicable Revolver Index Margin per annum or, at the election of Borrower, the applicable LIBOR Rate plus the Applicable Revolver LIBOR Margin per annum.
(A) As of the First A&R Closing Date, the Applicable Margins were as follows: Applicable Revolver Index Margin 0.00 % Applicable Revolver LIBOR Margin 1.25 % Applicable L/C Margin 1.25 % Applicable Unused Line Fee Margin 0.375 % At all times from and after the First A&R Closing Date until (but excluding) the Closing Date, the Applicable Margins shall be adjusted by reference to the following grids: Applicable Revolver Index Margin 0.00 % 0.00 % 0.25 % 0.50 % Applicable Revolver LIBOR Margin 1.25 % 1.50 % 1.75 % 2.00 % Applicable L/C Margin 1.25 % 1.50 % 1.75 % 2.00 % Applicable Unused Line Fee Margin 0.375 % 0.375 % 0.25 % 0.25 % Adjustments in the Applicable Margins commencing with the Fiscal Quarter ending on or about December 31, 2005 shall be implemented quarterly on a prospective basis, commencing on the first day of the calendar month that begins after the date of delivery to Lenders of the Compliance Certificate delivered to Agent and Lenders pursuant to paragraph (b) of Annex E with respect to a Fiscal Quarter evidencing the need for an adjustment. Concurrently with the delivery of such Compliance Certificate, Borrower shall deliver to Agent and Lenders a certificate, signed by its chief financial officer, setting forth in reasonable detail the basis for the continuance of, or any change in, the Applicable Margins. Failure to timely deliver such Compliance Certificate shall, in addition to any other remedy provided for in this Agreement, result in an increase in the Applicable Margins to the highest level set forth in the foregoing grid, until the date of the delivery of a Compliance Certificate demonstrating that such an increase is not required. If an Event of Default has occurred and is continuing at the time any reduction in the Applicable Margins is to be implemented, that reduction shall be deferred until the date on which such Event of Default is waived or cured.
(B) As of the Closing Date, the Applicable Margins are as follows: Applicable Revolver Index Margin 0.75 % Applicable Revolver LIBOR Margin 2.25 % Applicable L/C Margin 2.25 % Applicable Unused Line Fee Margin 0.5...
Interest and Applicable Margins. Eligible Accounts
Interest and Applicable Margins. (a) Borrowers shall pay interest to Agent, for the ratable benefit of Lenders in accordance with the various Loans being made by each Lender or Canadian Lender (as applicable), in arrears on each applicable Interest Payment Date, at the following rates: (i) with respect to the Revolving Credit Advances, the Index Rate plus the Applicable Revolver Index Margin per annum or, at the election of Borrower Representative, the applicable LIBOR Rate plus the Applicable Revolver LIBOR Margin per annum; (ii) with respect to the First Funded Revolving Credit Advances, the Index Rate plus the Applicable First Funded Revolver Index Margin per annum or, at the election of Borrower Representative, the applicable LIBOR Rate plus the Applicable First Funded Revolver LIBOR Margin per annum; (iii) with respect to the Canadian Advances, the Index Rate plus the Applicable First Funded Revolver Index Margin or the Applicable Revolver Index Margin per annum (as applicable) or, at the election of Borrower Representative, the applicable BA Rate plus the Applicable First Funded Revolver BA Margin or Applicable Revolver BA Margin per annum (as applicable); and (iv) with respect to the Swing Line Loan, the Index Rate plus the Applicable Revolver Index Margin per annum. The Applicable Margins with respect to the First Funded Revolving Loan and the Unused Line Fee are as follows: Applicable First Funded Revolver Index Margin 2.75 % Applicable First Funded Revolver LIBOR Margin 4.00 % Applicable First Funded Revolver BA Margin 4.00 % Applicable Unused Line Fee Margin 0.50 % The Applicable Margins with respect to the Revolving Credit Loans and Letters of Credit shall be adjusted by reference to the following grid: < 33 1/3 % of the lesser of (i) the Revolver Maximum Amount and (ii) the Revolver Borrowing Base Level I
> 33 1 3 % but < 66 2/3 % of the lesser of (i) the Revolver Maximum Amount and (ii) the Revolver Borrowing Base Level II > 66 2/3 % of the lesser of (i) the Revolver Maximum Amount and (ii) the Revolver Borrowing Base Level III Applicable Revolver Index Margin 1.00 % 1.25 % 1.50 % Applicable Revolver LIBOR Margin 2.25 % 2.50 % 2.75 % Applicable Revolver BA Margin 2.25 % 2.50 % 2.75 % Applicable L/C Margin 2.25 % 2.50 % 2.75 % All adjustments in the Applicable Margins with respect to the Revolving Credit Loans and Letters of Credit shall be implemented on a prospective basis, based on the average daily aggregate outstanding amount of the Revolving Credit Loans and Letters of ...
Interest and Applicable Margins. On and after the Effective Date:
Interest and Applicable Margins. (a) Borrowers shall pay interest to Agent, for the ratable benefit of Lenders in accordance with the various Loans being made by each Lender, in arrears on each applicable Interest Payment Date, at the following rates: (i) with respect to the Revolving Credit Advances, the Index Rate plus the Applicable Revolver Index Margin per annum or, at the election of Borrower Representative, the applicable LIBOR Rate plus the Applicable Revolver LIBOR Margin per annum; and (ii) with respect to the Swing Line Loan, the Index Rate plus the Applicable Revolver Index Margin per annum. As of the Closing Date, the Applicable Margins are as follows: Applicable Revolver Index Margin 1.75 % Applicable Revolver LIBOR Margin 2.75 % Applicable L/C Margin 2.75 % Applicable Unused Line Fee Margin .50 % The Applicable Margins may be adjusted by reference to the following grids: Less than 3.25 to 1.00 Level I Greater than or equal to 3.25 to 1.00, but less than 4.00 to 1.00 Level II Greater than or equal to 4.00 to 1.00, but less than 4.75 to 1.00 Level III Greater than or equal to 4.75 to 1.00 Xxxxx XX Applicable Revolver Index Margin 1.00 % 1.25 % 1.50 % 1.75 % Applicable Revolver LIBOR Margin 2.00 % 2.25 % 2.50 % 2.75 % Applicable L/C Margin 2.00 % 2.25 % 2.50 % 2.75 % Applicable Unused Line Fee Margin 0.50 % 0.50 % 0.50 % 0.50 % Adjustments in the Applicable Margins commencing with the Fiscal Quarter ending September 30, 2006, shall be implemented quarterly on a prospective basis, for each calendar month commencing at least five (5) days after the date of delivery to Lenders of the quarterly unaudited or annual audited (as applicable) Financial Statements evidencing the need for an adjustment. Concurrently with the delivery of those Financial Statements, Borrower Representative shall deliver to Agent and Lenders a certificate, signed by its chief financial officer, setting forth in reasonable detail the basis for the continuance of, or any change in, the Applicable Margins. Failure to timely deliver such Financial Statements shall, in addition to any other remedy provided for in this Agreement, result in an increase in the Applicable Margins to the highest level set forth in the foregoing grid, until the first day of the first calendar month following the delivery of those Financial Statements demonstrating that such an increase is not required. If an Event of Default has occurred and is continuing at the time any reduction in the Applicable Margins is to be implemented, that r...
