Common use of Applicable LIBOR Margin Clause in Contracts

Applicable LIBOR Margin. As of any date of determination, the annual rate determined pursuant to the following table: ------------------------------------------------------------------------- S&P Rating ▇▇▇▇▇'▇ Rating Fitch Rating LIBOR Margin ------------------------------------------------------------------------- Below BBB- or Below Baa3 or Below BBB- or unrated unrated unrated 1.20% BBB- Baa3 BBB- 0.95% BBB Baa2 BBB 0.70% BBB+ Baa1 BBB+ 0.65% A- or higher A3 or higher A- or higher 0.60% ------------------------------------------------------------------------- In the event that the three Ratings are not equivalent, the Applicable LIBOR Margin will be based on the lower of the two highest ratings. Any change in the Applicable LIBOR Margin caused by a change in the ▇▇▇▇▇'▇ Rating, the S&P Rating or the Fitch Rating shall become effective on the first day following the effective date of such change.

Applicable LIBOR Margin. As of any date of determination, the annual rate determined pursuant to the following table: ------------------------------------------------------------------------- ---------------------------------------------------------------------- S&P Rating ▇▇▇▇▇'▇ Rating Fitch Rating LIBOR Margin ------------------------------------------------------------------------- ---------------------------------------------------------------------- Below BBB- or Below Baa3 or Below BBB- or unrated unrated unrated 1.20% BBB- Baa3 BBB- 0.95% BBB Baa2 BBB 0.70% BBB+ Baa1 BBB+ 0.65% A- or higher A3 or higher A- or higher 0.60% ------------------------------------------------------------------------- ---------------------------------------------------------------------- In the event that the three Ratings are not equivalent, the Applicable LIBOR Margin will be based on the lower of the two highest ratings. Any change in the Applicable LIBOR Margin caused by a change in the ▇▇▇▇▇'▇ Rating, the S&P Rating or the Fitch Rating shall become effective on the first day following the effective date of such change.