Interest and Fee Basis. Applicable Floating Rate Margin, Applicable Eurodollar Margin and Applicable Commitment Fee Percentage. (i) Interest on all Obligations and all fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day an Obligation is incurred but not for the day of any payment on the amount paid if payment is received prior to 2:00 p.m. (Cleveland time) at the place of payment. If any payment of principal of or interest on a Loan or any payment of any other Obligations shall become due on a day which is not a Business Day, such payment shall be made on the immediately preceding Business Day. (ii) The Applicable Floating Rate Margin and Applicable Eurodollar Margin for all Loans and the Applicable Commitment Fee Percentage shall be determined from time to time by reference to the table set forth below, based upon the Leverage Ratio as described in this Section 2.15(D)(ii). Greater than 3.5 to 1.0 1.125 % 0.00 % 0.200 % Greater than 3.0 to 1.0 and less than or equal to 3.5 to 1.0 1.000 % 0.00 % 0.175 % Greater than 2.5 to 1.0 and less than or equal to 3.0 to 1.0 0.800 % 0.00 % 0.150 % Greater than 2.0 to 1.0 and less than or equal to 2.5 to 1.0 0.600 % 0.00 % 0.125 % Less than 2.0 to 1.0 0.400 % 0.00 % 0.100 % For purposes of this Section 2.15(D)(ii), the Leverage Ratio shall be determined as of the last day of each fiscal quarter based upon the financial statements delivered pursuant to Sections 7.1(A)(i) and (ii), as applicable, and the Applicable Floating Rate Margin, Applicable Eurodollar Margin and Applicable Commitment Fee Percentage shall be adjusted, such adjustment being effective on the fifth Business Day following the Agent’s receipt of such financial statements and the compliance certificate required to be delivered in connection therewith pursuant to Section 7.1(A)(iii); provided, that if the Borrowers shall not have timely delivered their financial statements in accordance with Section 7.1(A)(i) or (ii), as applicable, then commencing on the date upon which such financial statements should have been delivered and continuing until the fifth Business Day after such financial statements are actually delivered, it shall be assumed for purposes of determining the Applicable Floating Rate Margin, Applicable Eurodollar Margin and Applicable Commitment Fee Percentage that the Leverage Ratio was greater than 3.5 to 1.00.
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Interest and Fee Basis. Applicable Floating Rate Margin, Applicable Eurodollar Margin and Applicable Commitment Fee Percentage.
(i) Interest on all Obligations and all fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day an Obligation is incurred but not for the day of any payment on the amount paid if payment is received prior to 2:00 p.m. (Cleveland Chicago time) at the place of payment. If any payment of principal of or interest on a Loan or any payment of any other Obligations shall become due on a day which is not a Business Day, such payment shall be made on the immediately preceding Business Day.
(ii) The Applicable Floating Rate Margin and Applicable Eurodollar Margin for all Loans and the Applicable Commitment Fee Percentage shall be determined from time to time by reference to the table set forth below, based upon on the basis of the then applicable Leverage Ratio as described in this Section 2.15(D)(ii). 2.13(D)(ii): Applicable Applicable Applicable Eurodollar Floating Rate Commitment Greater than 3.5 or equal to 2.0 to 1.0 1.125 2.50% 0.00 1.00% 0.200 0.50% Greater than 3.0 or equal to 1.5 to 1.0 and less than 2.0 to 1.0 2.00% 0.50% 0.40% Greater than or equal to 3.5 to 1.0 1.000 % 0.00 % 0.175 % Greater than 2.5 to 1.0 and less than 1.5 to 1.0 1.75% 0.25% 0.35% Greater than or equal to 3.0 to 1.0 0.800 % 0.00 % 0.150 % Greater than 2.0 .5 to 1.0 and less than or equal to 2.5 1.0 to 1.0 0.600 1.50% 0.00 0.00% 0.125 0.30% Less than 2.0 0.5 to 1.0 0.400 1.25% 0.00 0.00% 0.100 0.25% For purposes of this Section 2.15(D)(ii2.13(D)(ii), the Leverage Ratio shall be determined as of the last day of each fiscal quarter based upon (a) for Funded Indebtedness as of the last day of each such fiscal quarter; and (b) for EBITDA, the actual amount for the four-quarter period ending on such day. Upon receipt of the financial statements delivered pursuant to Sections Section 7.1(A)(i) (with regard to a month ending on the last day of a fiscal quarter) and (ii), as applicable, and the Applicable Floating Rate Margin, Applicable Eurodollar Margin and Applicable Commitment Fee Percentage shall be adjusted, such adjustment being effective on the fifth Business Day following the Administrative Agent’s 's receipt of such financial statements and the compliance certificate required to be delivered in connection therewith pursuant to Section 7.1(A)(iii); provided, that if the Borrowers Borrower shall not have timely delivered their its financial statements in accordance with Section 7.1(A)(i) (with regard to a month ending on the last day of a fiscal quarter) or (ii), as applicable, then commencing on the date upon which such financial statements should have been delivered and continuing until the fifth Business Day after such financial statements are actually delivered, it shall be assumed for purposes of determining the Applicable Floating Rate Margin, Applicable Eurodollar Margin and Applicable Commitment Fee Percentage that the Leverage Ratio was greater than 3.5 or equal to 1.002.0 to 1.0. With regard to the period commencing on the Closing Date until adjusted pursuant to the preceding provisions following the first delivery of financial statements pursuant to Section 7.1(A)(i), the Applicable Eurodollar Margin shall be 1.50% and the Applicable Floating Rate Margin shall be 0.00%.
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Interest and Fee Basis. Applicable Floating Rate Margin, Applicable Eurodollar Margin and Applicable Commitment Fee Percentage.
(i) Interest on all Obligations and all fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day an Obligation is incurred but not for the day of any payment on the amount paid if payment is received prior to 2:00 12:00 p.m. (Cleveland Indianapolis time) at the place of payment. If any payment of principal of or interest on a Loan or any payment of any other Obligations shall become due on a day which is not a Business Day, such payment shall be made on the immediately preceding next succeeding Business DayDay and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
(ii) The Applicable Floating Rate Margin and Applicable Eurodollar Margin for all Loans and the Applicable Commitment Fee Percentage shall be determined from time to time by reference to the table set forth below, based upon on the basis of the then applicable Leverage Ratio as described in this Section 2.15(D)(ii). 2.13(D)(ii): Applicable Applicable Applicable Eurodollar Floating Rate Commitment Leverage Ratio Margin Margin Fee Percentage* -------------- ---------- ------------- -------------- Greater than 3.5 or equal to 4.35 to 1.0 1.125 2.75% 0.00 0.75% 0.200 0.50% Greater than 3.0 or equal to 4.0 to 1.0 and less than 4.35 to 1.0 2.50% 0.50% 0.50% Greater than or equal to 3.5 to 1.0 1.000 and less than 4.0 to 1.0 2.25% 0.00 0.25% 0.175 0.50% Greater than 2.5 to 1.0 and less than or equal to 3.0 to 1.0 0.800 and less than 3.5 to 1.0 2.00% 0.00 0.00% 0.150 0.375% Greater than 2.0 to 1.0 and less than or equal to 2.5 to 1.0 0.600 and less than 3.0 to 1.0 1.50% 0.00 0.00% 0.125 0.25% Less than 2.0 2.5 to 1.0 0.400 1.00% 0.00 0.00% 0.100 0.25% *If at any time the sum of outstanding Revolving Loans and the outstanding Debt Purchase Facility Loans is less than $50,000,000.00, the Applicable Commitment Fee percentage shall be increased by one eighth of one percent (.125%). For purposes of this Section 2.15(D)(ii2.13(D)(ii), the Leverage Ratio shall be determined as of the last day of each fiscal quarter based upon (a) the outstanding balance of Consolidated Indebtedness as of such date; and (b) the actual amount of EBITDA for the four fiscal quarter period ending on such day, adjusted, with respect to Permitted Acquisitions, to reflect the EBITDA of the acquired entity (calculated consistent with the definition of EBITDA contained herein) during such portion of the four fiscal quarter period which is prior to the consummation of such Permitted Acquisition. Upon receipt of the financial statements delivered pursuant to Sections 7.1(A)(i) and (ii), as applicable, and the Applicable Floating Rate Margin, Applicable Eurodollar Margin and Applicable Commitment Fee Percentage shall be adjusted, such adjustment being effective on the fifth five (5) Business Day Days following the Agent’s 's receipt of such financial statements and the compliance certificate required to be delivered in connection therewith pursuant to Section 7.1(A)(iii); provided, that if the Borrowers shall not have timely delivered their its financial statements in accordance with Section 7.1(A)(i) or (ii), as applicable, then commencing on the date upon which such financial statements should have been delivered and continuing until the fifth Business Day after such financial statements are actually delivered, it shall be assumed for purposes of determining the Applicable Floating Rate Margin, Applicable Eurodollar Margin and Applicable Commitment Fee Percentage that the Leverage Ratio was greater than 3.5 or equal to 1.004.35 to 1.0.
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