Common use of Margin Adjustment Clause in Contracts

Margin Adjustment. (a) If: (i) no Default is continuing; (ii) a period of at least 12 Months has expired since the Closing Date; and (iii) Leverage in respect of the most recently completed Relevant Period (as evidenced by the last Compliance Certificate) is within the range set out below, then the Margin for each Revolving Facility Loan will be the percentage per annum set out below in the column opposite that range: Greater than 2.5:1 2.75 Less than or equal to 2.5:1, but greater than 2.0:1 2.50 Less than or equal to 2.0:1, but greater than 1.5:1 2.00 Less than or equal to 1.5:1 but greater than 1.0:1 1.75 Less than or equal to 1.0:1 1.50 (i) Any increase or decrease in the Margin shall take effect on the date which is the first day of the Interest Period for each Revolving Facility Loan. (ii) If, following receipt by the Agent of the Annual Financial Statements of the Group and related Compliance Certificate, those statements and Compliance Certificate do not confirm the basis for a reduced Margin, then the provisions of clause 13.2 (Payment of interest) shall apply and the Margin for each Revolving Facility Loan shall be the percentage per annum determined in accordance with clause 15.1(a) and the revised ratio of Leverage calculated using the figures in the Compliance Certificate and the Company shall (or shall ensure the relevant Borrower shall) promptly pay to the Agent any amounts necessary to put the Lenders in the position they would have been in had the reduced Margin not have been applied during such period. (iii) While a Default is continuing unremedied and unwaived, the Margin for each Revolving Facility Loan shall be the highest percentage per annum set out in clause 15.1(a) for a Revolving Facility Loan.

Margin Adjustment. (a) If: (i) no Default is continuing; (ii) a period of at least 12 Months has expired since the Closing Date; and (iii) Leverage in respect of the most recently completed Relevant Period (as evidenced by the last Compliance Certificate) is within the range set out below, then the Margin for each Facility A Loan and each Revolving Facility Loan will be the percentage per annum set out below in the column for that Facility opposite that range: Greater than 2.5:1 2.75 Less than or equal to 2.5:1, but greater than 2.0:1 2.50 Less than or equal to 2.0:1, but greater than 1.5:1 2.00 2.25 Less than or equal to 1.5:1 but greater than 1.0:1 1.75 2.00 Less than or equal to 1.0:1 1.501.75 (i) Any increase or decrease in the Margin shall take effect on the date which is the first day of the next Interest Period for each Facility A Loan and each Revolving Facility Loan. (ii) If, following receipt by the Agent of the Annual Financial Statements of the Group and related Compliance Certificate, those statements and Compliance Certificate do not confirm the basis for a reduced Margin, then the provisions of clause 13.2 (Payment of interest) shall apply and the Margin for each Facility A Loan and each Revolving Facility Loan shall be the percentage per annum determined in accordance with clause 15.1(a) and the revised ratio of Leverage calculated using the figures in the Compliance Certificate and the Company shall (or shall ensure the relevant Borrower shall) promptly pay to the Agent any amounts necessary to put the Lenders in the position they would have been in had the reduced Margin not have been applied during such period. (iii) While a Default is continuing unremedied and unwaived, the Margin for each Facility A Loan and each Revolving Facility Loan shall be the highest percentage per annum set out in clause 15.1(a) for a Revolving Facility Loan.15.1

Margin Adjustment. (a) If: (i) no Default is continuing; (ii) a period of at least 12 Months has expired since the Closing Date; and (iii) Leverage in respect of the most recently completed Relevant Period (as evidenced by the last Compliance Certificate) is within the range set out below, then the Margin for each Revolving Facility Loan will be the percentage per annum set out below in the column for the Facility opposite that range: Greater than 2.5:1 2.75 Less than or equal to 2.5:1, but greater than 2.0:1 2.50 Less than or equal to 2.0:1, but greater than 1.5:1 2.00 2.25 Less than or equal to 1.5:1 but greater than 1.0:1 1.75 2.00 Less than or equal to 1.0:1 1.501.75 (i) Any increase or decrease in the Margin shall take effect on the date which is the first day of the Interest Period for each Revolving Facility Loan. (ii) If, following receipt by the Agent of the Annual Financial Statements of the Group and related Compliance Certificate, those statements and Compliance Certificate do not confirm the basis for a reduced Margin, then the provisions of clause 13.2 (Payment of interest) shall apply and the Margin for each Revolving Facility Loan shall be the percentage per annum determined in accordance with clause 15.1(a) and the revised ratio of Leverage calculated using the figures in the Compliance Certificate and the Company shall (or shall ensure the relevant Borrower shall) promptly pay to the Agent any amounts necessary to put the Lenders in the position they would have been in had the reduced Margin not have been applied during such period. (iii) While a Default is continuing unremedied and unwaived, the Margin for each Revolving Facility Loan shall be the highest percentage per annum set out in clause 15.1(a) for a Revolving Facility Loan.