Common use of Applicable Margin Definition Clause in Contracts

Applicable Margin Definition. Subsection (a), (b) and (c) of the definition of Applicable Margin are deleted in their entirety and replaced with the following: (a) For any RC Loans or Tranche A Term Loans, the Applicable Margin shall be the percentage amount set forth below under the caption "Applicable Margin for RC Loans and Tranche A Term Loans" opposite the relevant Adjusted Total Debt/Cash Flow Ratio: Adjusted Total Applicable Margin for RC Loans Debt/Cash Flow Ratio and Tranche A Term Loans -------------------- --------------------------------- Prime Rate Loans LIBO Rate Loans ---------------- --------------- below 3.0 0 1.00% > 3.0 < 3.5 0 1.25% - > 3.5 < 4.0 0 1.50% - > 4.0 < 4.5 0 1.75% - > 4.5 < 5.0 0 2.00% - > 5.0 < 5.5 .25% 2.25% - > 5.5 < 6.0 .50% 2.50% - > 6.0 < 6.5 .75% 2.75% - > 6.5 < 7.0 .75% 3.00% - > 7.0 < 7.5 .75% 3.25% - > 7.5 < 8.0 1.75% 3.50% - > 8.0 2.00% 3.75% - (b) For any Tranche B Term Loan, the Applicable Margin at all times after the Amendment No. 4 Effective Date for LIBO Rate Loans shall be 4.00%, provided, however, that any time that the Adjusted Total Debt/Cash Flow Ratio is less than 4.5 to 1.0, the Applicable Margin for Tranche B Term Loans shall be 3.25%. For any Tranche B Term Loan, the Applicable Margin at all times after the Amendment No. 4 Effective Date for Prime Rate Loans shall be 2.25% provided, however, that at any time that the Adjusted Total Debt/Cash Flow Ratio is less than 4.5 to 1.0, the Applicable Margin for Tranche B Loans which are Prime Rate Loans shall be 1.50%. (c) For any Tranche C Term Loan, the Applicable Margin at all times after the Amendment No. 4 Effective Date for LIBO Rate Loans shall be 4.25%, provided, however, that any time that the Adjusted Total Debt/Cash Flow Ratio is less than 4.5 to 1.0, the Applicable Margin for Tranche C Term Loans shall be 3.50%. For any Tranche C Term Loan, the Applicable Margin at all times after the Amendment No. 4 Effective Date for Prime Rate Loans shall be 2.50% provided, however, that at any time that the Adjusted Total Debt/Cash Flow Ratio is less than 4.5 to 1.0, the Applicable Margin for Tranche C Loans which are Prime Rate Loans shall be 1.75%.

Appears in 1 contract

Sources: Credit Agreement (Multicare Companies Inc)

Applicable Margin Definition. Subsection (a), (b) and (c) of the definition of Applicable Margin are deleted in their entirety and replaced with the following: (a) For any RC Loans or Tranche A Term Loans, the Applicable Margin shall be the percentage amount set forth below under the caption "Applicable Margin for RC Loans and Tranche A Term Loans" opposite the relevant Adjusted Total Debt/Cash Flow Ratio: Adjusted Total Applicable Margin for RC Loans Debt/Cash Flow Ratio and Tranche A Term Loans -------------------- --------------------------------- ------------------------ Prime Rate Loans LIBO Rate Loans ---------------- --------------- below 3.0 0 1.00% > 3.0 < 3.5 0 1.25% - > 3.5 < 4.0 0 1.50% - > 4.0 < 4.5 0 1.75% - > 4.5 < 5.0 0 2.00% - > 5.0 < 5.5 .25% 2.25% - > 5.5 < 6.0 .50% 2.50% - > 6.0 < 6.5 .75% 2.75% - > 6.5 < 7.0 .75% 3.00% - > 7.0 < 7.5 .75% 3.25% - > 7.5 < 8.0 1.75% 3.50% - > 8.0 2.00% 3.75% - (b) For any Tranche B Term Loan, the Applicable Margin at all times after the Amendment No. 4 Effective Date for LIBO Rate Loans shall be 4.00%, provided, however, that any time that the Adjusted Total Debt/Cash Flow Ratio is less than 4.5 to 1.0, the Applicable Margin for Tranche B Term Loans shall be 3.25%. For any Tranche B Term Loan, the Applicable Margin at all times after the Amendment No. 4 Effective Date for Prime Rate Loans shall be 2.25% provided, however, that at any time that the Adjusted Total Debt/Cash Flow Ratio is less than 4.5 to 1.0, the Applicable Margin for Tranche B Loans which are Prime Rate Loans shall be 1.50%. (c) For any Tranche C Term Loan, the Applicable Margin at all times after the Amendment No. 4 Effective Date for LIBO Rate Loans shall be 4.25%, provided, however, that any time that the Adjusted Total Debt/Cash Flow Ratio is less than 4.5 to 1.0, the Applicable Margin for Tranche C Term Loans shall be 3.50%. For any Tranche C Term Loan, the Applicable Margin at all times after the Amendment No. 4 Effective Date for Prime Rate Loans shall be 2.50% provided, however, that at any time that the Adjusted Total Debt/Cash Flow Ratio is less than 4.5 to 1.0, the Applicable Margin for Tranche C Loans which are Prime Rate Loans shall be 1.75%.

Appears in 1 contract

Sources: Credit Agreement (Multicare Companies Inc)