Increased Interest Rate. (a) If at any time during the Initial Period the Consolidated Leverage Ratio exceeds 3.75 to 1.00 but is at or below 4.00 to 1.00 (a “Primary Event Leverage Increase”), the per annum interest rate (including any Default Rate, if applicable) otherwise applicable to each series of the Notes as specified in the first paragraph thereof shall be increased by 25 basis points (.25%) (the “Primary Increased Interest Rate”) from the date of such Primary Event Leverage Increase to but not including the date that the Consolidated Leverage Ratio is 3.75 to 1.00 or less. The Company shall promptly, and in any event within 10 Business Days, following a Primary Event Leverage Increase notify the holders of the Notes in writing that a Primary Event Leverage Increase has commenced and the date of such commencement.
Increased Interest Rate. In the event that a third party institutional investor invests within a period of one year from the Original Issuance Date and the investment is in the form of debt and paid at an interest rate that exceeds 10% per annum, this Debenture shall automatically be deemed amended to increase the interest rate hereunder to the rate of interest set forth in the debt with such third party institutional investor thereafter, provided however, that such rate shall not exceed 14% per annum.
Increased Interest Rate. If any Loans or other amount is not paid when requested, any principal, interest, fee or other amount payable hereunder shall bear interest for each day thereafter until paid in full (before and after judgment) at a rate per annum which shall be equal to two hundred (200) basis points (2% per annum) above the rate of interest otherwise applicable with respect to such amount or the Base Rate if no rate of interest is otherwise applicable (the "Increased Interest Rate,").
Increased Interest Rate. Section 2 of the Credit Agreement is hereby amended by adding at the end thereof the following new subsection 2.25 as follows:
Increased Interest Rate. (a) If at any time during the six months to one year period following the last original issuance date of the Notes, (i) the Company fails to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act (other than any Current Report on Form 8-K), (ii) the Company has not cured such failure to timely file within 14 days of such failure and (iii) the Notes are not otherwise freely tradable by Holders (other than Holders who are Affiliates of the Company) as a result of restrictions pursuant to the U.S. securities laws or the terms of this Indenture or the Notes, the interest rate in respect of the Notes shall be increased by 0.25% per annum for the first 90 days of such period following such failure to file and by 0.50% per annum after the first 90 days of the period (in either case, ending on the date that is one year from the Issue Date of the Notes) for which such failure to file continues.
Increased Interest Rate. (a) If at any time during the six months to one year period following the Issue Date, (i) the Company fails to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act (other than any Current Report on Form 8-K), or (ii) the Debentures are not otherwise freely tradable by Holders (other than Holders who are Affiliates of the Company or any Person that has been an Affiliate of the Company at any time during the three months preceding the applicable date) as a result of restrictions pursuant to the U.S. securities laws or the terms of this Indenture or the Debentures, the Company will make on the next succeeding Interest Payment Date (or, in the case of a converting Holder, upon the conversion of such Holder’s Debentures) a one-time payment in respect of the Debentures in the amount of 0.50% of their principal amount.
Increased Interest Rate. (i) Upon the occurrence of any Credit Event from (and including) the date on which such Credit Event occurs, the Applicable Margin shall be increased
Increased Interest Rate. Effective November 1, 2002, interest shall accrue on the unpaid principal balance of the Note, as set forth in the Note, at the fixed interest rate of 9.30% per annum.
Increased Interest Rate. If the closing of a Qualified IPO has not occurred on or before September 30, 2002, then the interest shall accrue on the unpaid balance of the Notes until the principal balance thereof shall have become due and payable, and shall apply retroactively for the period April 1, 2002 to September 30, 2002, at a rate determined in accordance with the following formulas: Net Funded Debt /Applicable Applicable Annualized Annualized EBITDA Increased Interest Rate --------------------------- ----------------------- Less than 1.25x 15% 1.25x to 1.4999x 16% 1.50x to 1.7499x 17% 1.75x to 1.9999x 18% 2.00x and greater 20% The calculations of the above formulas shall be based on annualized EBITDA calculations as follows: (i) retroactive interest payments for the period April 1, 2002 through September 30, 2002, and interest payments due and payable on October 31, 2002, November 30, 2002, and December 31, 2002 shall be calculated using Six Month Annualized EBITDA and the Net Funded Debt for the Fiscal Quarter ended September 30, 2002; (ii) interest payments due and payable on January 31, 2003, February 28, 2003, and March 31, 2003 shall be calculated using Nine Month Annualized EBITDA and the Net Funded Debt for the Fiscal Quarter ended December 31, 2002; and (iii) interest payments due and payable on and after April 30, 2003 shall be calculated using Last 12 Months EBITDA and the latest quarter ended Net Funded Debt. The interest rate set forth in the chart above that corresponds to the applicable quotient of Net Funded Debt divided by Applicable Annualized EBITDA calculated as described in the immediately preceding clauses (i), (ii), and (iii) are collectively referred to as "INCREASED INTEREST RATES," and each an "INCREASED INTEREST RATE." If the closing of a Qualified IPO has not occurred on or before September 30, 2002, the Issuer shall deliver to the Holders of the Notes written notice of the first applicable Increased Interest Rate and the calculation thereof, together with supporting information in sufficient detail to enable the Holders of the Notes to verify the same, on or before October 31, 2002 for the interest payments applicable to the period from April 1, 2002 to December 31, 2002. Additionally, on October 31, 2002, the Issuer shall deliver to the Holders of the Notes (a) the interest payment for the period from October 1, 2002 to October 31, 2002, which shall be calculated using the Increased Interest Rate applicable thereto, and (b) the retroactive intere...
Increased Interest Rate. Principal amounts remaining unpaid after the Maturity Date or after demand for payment has been made or the occurrence of automatic acceleration hereunder shall bear interest from and after that date in time until paid at a rate of 2% per annum plus the rate otherwise payable hereunder.
