Applicable Rate. The definition of “Applicable Rate” set forth in Section 14 is hereby amended by adding to the end of Subsection (b) of the definition after the word “Rate” the following provision: “; provided, however, that if the payee is a Defaulting Party for purposes of Section 6(e), then the rate shall be the Non-default Rate.”
Applicable Rate. The Applicable Rate shall be the following amounts per annum, based upon the Financial Test, as set forth in the most recent compliance certificate (or, if no compliance certificate is required, the Borrower’s most recent financial statements) received by the Bank as required in the Covenants section; provided, however, from the date hereof until the date on which Bank has received the first compliance certificate or financial statement from the Borrower, the Applicable Rate shall be equal to the LIBOR Daily Floating Rate plus two percent (2.0%). Applicable Rate (in percentage points per annum) Pricing Level Funded Debt to EBITDA LIBOR Daily Floating Rate + 1 Greater than 3.0 to 1.0 2.6 % 2 Greater than or equal to 2.5 to 1.0 but less than or equal to 3.0 to 1.0 2.3 % 3 Less than 2.5 to 1.0 2.0 % The Applicable Rate shall be in effect from the date the most recent compliance certificate or financial statement is received by the Bank until the date the next compliance certificate or financial statement is received; provided, however, that if the Borrower fails to timely deliver the next compliance certificate or financial statement, the Applicable Rate from the date such compliance certificate or financial statement was due until the date such compliance certificate or financial statement is received by the Bank shall be the highest pricing level set forth above. If, as a result of any restatement of or other adjustment to the financial statements of the Borrower or for any other reason, the Borrower or the Bank determines that (i) the Financial Test as calculated by the Borrower as of any applicable date was inaccurate and (ii) a proper calculation of the Financial Test would have resulted in higher pricing for such period, the Borrower shall immediately and retroactively be obligated to pay to the Bank an amount equal to the excess of the amount of interest and fees that should have been paid for such period over the amount of interest and fees actually paid for such period. The Bank’s acceptance of payment of such amounts will not constitute a waiver of any default under this Agreement. The Borrower’s obligations under this paragraph shall survive the termination of this Agreement and the repayment of all other obligations.
Applicable Rate. The Loan shall bear interest at the Applicable Rate which shall be the rate per annum which is equal to the aggregate of (a) LIBOR for the relevant Interest Period plus (b) the Margin. The Applicable Rate shall be determined by the Administrative Agent two Banking Days prior to the first day of the relevant Interest Period. The Administrative Agent shall promptly notify the Borrower in writing of the Applicable Rate as and when determined. Each such determination, absent manifest error, shall be conclusive and binding upon the Borrower.
Applicable Rate. The Applicable Rate for the Series A Incremental Term Loans shall mean, as of any date of determination, 2.00% per annum for any Base Rate Loans that are Series A Incremental Term Loans and 3.00% per annum for Eurodollar Rate Loans that are Series A Incremental Term Loans. Notwithstanding anything herein or in the Credit Agreement to the contrary, at no time will the Eurodollar Rate in respect of the Series A Incremental Term Loans be deemed to be less than 0.75% per annum.
Applicable Rate. At the time of determination thereof, a percentage per annum determined by the Pricing Level in effect on such date as shown below: Pricing Level Leverage Ratio Senior Unsecured Debt Rating Eurodollar Rate Base Rate Unused Fee 1 N/A BBB-/Baa3 or better 1.00 % 0.00 % 0.20 % 2 Less than or equal to 1.0:1 N/A 1.05 % 0.00 % 0.25 % 3 Greater than 1.0:1 but less than or equal to 1.25:1 N/A 1.25 % 0.00 % 0.275 % 4 Greater than 1.25:1 but less than or equal to 1.75:1 N/A 1.50 % 0.00 % 0.275 % 5 Greater than 1.75:1 but less than or equal to 2.0:1 N/A 1.75 % 0.00 % 0.30 % 6 Greater than 2.0:1 N/A 2.00 % 0.00 % 0.35 % Initially, the Applicable Rate shall be set at Level 5. Upon delivery of the Compliance Certificate pursuant to Section 9.6.3, after the end of each Fiscal Quarter (commencing with the Compliance Certificate delivered for the Fiscal Quarter ending September 30, 2005), the Applicable Rate shall automatically be adjusted to the rate corresponding to the Leverage Ratio set forth in the table above, such automatic adjustment to take effect on the last day that the Compliance Certificate was required to be delivered, and shall remain in effect until subsequently adjusted in accordance herewith upon the delivery of each such subsequent Compliance Certificate. If Borrower fails to deliver such Compliance Certificate with respect to any Fiscal Quarter within the period of time required by Section 9.6.3, then the Applicable Rate shall automatically be adjusted to that set forth in Level 6 as of the first (1st) Business Day after the date on which such Compliance Certificate was required to be delivered until Borrower delivers such Compliance Certificate with respect to such Fiscal Quarter. Notwithstanding the foregoing, (a) for so long as Borrower maintains an Investment Grade Rating, the Applicable Rate as of any date of determination thereof shall be set at Level 1, and (b) at all times while an Event of Default exists, the Applicable Rate shall be set at Level 6. In the event that the Debt Ratings are not equivalent, the Applicable Rate shall be based on the two (2) highest Debt Ratings. Each change in the Applicable Rate resulting from a publicly announced change in the Debt Rating shall be effective, in the case of an upgrade, during the period commencing on the date of delivery by Borrower to Agent of notice thereof pursuant to Section 9.7.6(c) and ending on the date immediately preceding the effective date of the next such change and, in the case of a dow...
Applicable Rate. The Applicable Rate (using a 365-day year) shall be determined in accordance with the following chart for each Settlement Currency: Settlement Currency Applicable Rate U.S. Dollars ***** Association Obligor – Any Person (other than Carrier) (i) directly liable (a “Direct Obligor”) for obligations owed to any Card Association on account of Sales Records ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission. submitted to a Card Association hereunder (for example, Chargebacks and Card Association fines and assessments), or (ii) indirectly liable to any Card Association on account of Sales Records submitted to a Card Association hereunder through an indemnity given to a Direct Obligor or a guarantee of payment of any such indemnity obligation to a Direct Obligor (an “Indirect Obligation”).
Applicable Rate. The Applicable Rate (using a 365-day year) shall be determined in accordance with the following chart for each Settlement Currency: Settlement Currency Applicable Rate U.S. Dollars ***** ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission.