Common use of Applicable LIBOR Margin Clause in Contracts

Applicable LIBOR Margin. The Applicable LIBOR Margin on LIBOR Loans shall be as set forth in the Pricing Table. Any change in the Applicable LIBOR Margin shall become effective on the first day of each Interest Period which begins three (3) or more days after receipt by the Banks of financial statements delivered pursuant to ss.6.4(a) or (b) hereof which indicate a change in the Pricing Ratio. If at any time the financial statements required to be delivered pursuant to ss.6.4(a) or (b) hereof are not delivered within the time periods specified in such subsections, the Applicable LIBOR Margin shall be 1.50% with respect to any LIBOR Loan requested on or after the date on which such financial statements were required to be delivered but before the time of actual receipt of such financial statements, subject to adjustment upon actual receipt of such financial statements.

Applicable LIBOR Margin. The Applicable LIBOR Margin on LIBOR Loans shall be as set forth in the Pricing Table. Any change in the Applicable LIBOR Margin shall become effective on the first day of each Interest Period which begins three (3) or more days after receipt by the Banks of financial statements delivered pursuant to ss.6.4(a) or (b) hereof which indicate a change in the Pricing Ratio. If at any time the financial statements required to be delivered pursuant to ss.6.4(a) or (b) hereof are not delivered within the time periods specified in such subsections, the Applicable LIBOR Margin shall be 1.502.25% with respect to any LIBOR Loan requested on or after the date on which such financial statements were required to be delivered but before the time of actual receipt of such financial statements, subject to adjustment upon actual receipt of such financial statements.