Pricing Grids the pricing grids and related provisions attached hereto as Annex A.
Pricing Grids set forth in Section 1.1 of the Credit Agreement is hereby amended by adding the following proviso after the table entitled “For Term Loans:” in clause (b) of such definition: “; provided that at any time when the Total Leverage Ratio or the Unsecured Leverage Ratio exceeds 65%, then the Applicable Margins for both Revolving Loans and Term Loans (x) shall be determined based on a Credit Rating of “below BBB-/Baa3 or unrated” and (y) shall be increased by 0.20% above the Applicable Margins otherwise applicable to such Credit Rating.”
Pricing Grids set forth in Section 1.1 of the Existing Credit Agreement is hereby amended by inserting, immediately following the last sentence of the first full paragraph thereof, a new sentence as follows: Notwithstanding anything else herein to the contrary, if (i) the Total Leverage Ratio as of the last day of the most recently ending fiscal quarter of the Borrower as set forth in the corresponding Compliance Certificate delivered pursuant to Section 6.2(a) is less than or equal to 37.5% and (ii) the Borrower’s Credit Rating is not lower than BBB-/Baa3 (determined in accordance with the immediately preceding paragraph), the Applicable Margin and Facility Fee Percentage shall be the rate per annum applicable for a Credit Rating of BBB/Baa2.
Examples of Pricing Grids in a sentence
G.1.2. Completed Pricing Grids are to be submitted as original hard copies as part of your completed proposal.
The Applicable Eurodollar Margin for the Facilities will be based upon the attached Pricing Grids.
G.1. Pricing Submission G.1.1. Vendors are to submit pricing using the Pricing Grids, Attachment C – Delivery Pricing Grid and Attachment D – Pickup Pricing Grid.
More Definitions of Pricing Grids
Pricing Grids set forth in Section 1.1 of the Credit Agreement is hereby amended by adding the following proviso after the table entitled “For Term Loans:” in clause (a) of such definition: “; provided that if either the Total Leverage Ratio or the Unsecured Leverage Ratio exceeds 65%, then the Applicable Margins for both Revolving Loans and Term Loans shall be increased by 0.50% above the Applicable Margins otherwise applicable to a Total Leverage Ratio ³ 55% in the tables set forth above.”
Pricing Grids. (a) From and after the Closing Date and until the Debt Rating Pricing Election Date, the table set forth below (the “Leverage Based Pricing Grids”). For Revolving Loans: Total Leverage Ratio Applicable Margin for Revolving Loans which are Eurodollar Loans Applicable Margin for Revolving Loans which are ABR Loans <40% 1.70 % 0.70 % >40% and <50% 1.80 % 0.80 % >50% and <55% 2.00 % 1.00 % >55% 2.25 % 1.25 % For Term Loans: Total Leverage Ratio Applicable Margin for Term Loans which are Eurodollar Loans Applicable Margin for Term Loans which are ABR Loans <40% 1.60 % 0.60 % >40% and <50% 1.70 % 0.70 % >50% and <55% 1.95 % 0.95 % >55% 2.20 % 1.20 % For the purposes of the Leverage Based Pricing Grids, changes in the Applicable Margin resulting from changes in the Total Leverage Ratio shall become effective on the date (the “Adjustment Date”) that is three Business Days after the date on which financial statements are delivered to the Lenders pursuant to Section 6.1 and shall remain in effect until the next change to be effected pursuant to this paragraph. If any financial statements referred to above are not delivered within the time periods specified in Section 6.1, then, until the date that is three Business Days after the date on which such financial statements are delivered, the highest rate set forth in each column of the Leverage Based Pricing Grids shall apply. In addition, at all times while an Event of Default shall have occurred and be continuing, the highest rate set forth in each column of the Leverage Based Pricing Grids shall apply. Each determination of the Total Leverage Ratio pursuant to the Leverage Based Pricing Grids shall be made in a manner consistent with the determination thereof pursuant to Section 7.1. If at any time the financial statements upon which the Applicable Margin was determined were incorrect (whether based on a restatement, fraud or otherwise), the Borrower shall be required to retroactively pay any additional amount that the Borrower would have been required to pay if such financial statements had been accurate at the time they were delivered.
Pricing Grids the tables set forth below (the “Ratings Based Pricing Grids”).
Pricing Grids is amended in its entirety by restating said definition as follows:
Pricing Grids the pricing grids and related provisions as amended in their entirety by Annex A attached to the First Amendment.
Pricing Grids means the Revolving Loans Pricing Grid or the Term Loans Pricing Grid, as the case may be.
Pricing Grids the tables set forth below (the “Ratings Based Pricing Grids”). BBB+/Baa1 or better 0.775% 0.00% 0.15% BBB/Baa2 0.85% 0.00% 0.20% BBB-/Baa3 1.05% 0.05% 0.25% BB+/Ba1 1.20% 0.20% 0.30% below BB+/Ba1 or unrated 1.325% 0.325% 0.375% BBB+/Baa1 or better 0.85% 0.00% 0.15% BBB/Baa2 0.95% 0.00% 0.20% BBB-/Baa3 1.20% 0.20% 0.25% BB+/Ba1 1.40% 0.40% 0.30% below BB+/Ba1 or unrated 1.60% 0.60% 0.375% For purposes of the Ratings Based Pricing Grids, if at any time the Borrower has two (2) Credit Ratings, the Applicable Margin and Facility Fee Percentage shall be the rate per annum applicable to the highest Credit Rating; provided, that if the highest Credit Rating and the lowest Credit Rating are more than one ratings category apart, the Applicable Margin and Facility Fee Percentage shall be the rate per annum applicable to Credit Rating that is one ratings category below the highest Credit Rating. If at any time the Borrower has three (3) Credit Ratings, and such Credit Ratings are split, then: (A) if the difference between the highest and the lowest such Credit Ratings is one ratings category (e.g. Baa2 by Xxxxx’x and BBB- by S&P or Fitch), the Applicable Margin and Facility Fee Percentage shall be the rate per annum that would be applicable if the highest of the Credit Ratings were used; and (B) if the difference between such Credit Ratings is two ratings categories (e.g. Baa1 by Xxxxx’x and BBB- by S&P or Fitch) or more, the Applicable Margin and Facility Fee Percentage shall be the rate per annum that would be applicable if the average of the two (2) highest Credit Ratings were used; provided, that if such average is not a recognized rating category, then the Applicable Margin and Facility Fee Percentage shall be the rate per annum that would be applicable if the second highest Credit Rating of the three were used. If at any time the Borrower has only one Credit Rating (and such Credit Rating is from Xxxxx’x or S&P), the Applicable Margin and Facility Fee Percentage shall be the rate per annum applicable to such Credit Rating. If the Borrower does not have a Credit Rating from either Xxxxx’x or S&P, the Applicable Margin and Facility Fee Percentage shall be the rate per annum applicable to a Credit Rating of “below BB+/Ba1 or unrated” in the tables above. A change (if any) in the Applicable Margin and Facility Fee Percentage shall be effective immediately as of the date on which any of the rating agencies announces a change in the Credit Rating or the date on whi...