Common use of Margin Changes; Adjustments for Margin Changes Clause in Contracts

Margin Changes; Adjustments for Margin Changes. (1) Changes in Applicable Pricing Rate shall be effective: (a) from and as of the day the Borrower delivers a Compliance Certificate pursuant hereto evidencing a change in the Consolidated Senior Debt to EBITDA Ratio which results in a change in the Applicable Pricing Rate in accordance with the provisions of such definition; and (b) without the necessity of notice to the Borrower, provided that, notwithstanding the foregoing provisions of this Section 7.7, if the Borrower has failed to deliver a Compliance Certificate for the immediately preceding fiscal quarter in accordance with the provisions hereof, then the Consolidated Senior Debt to EBITDA Ratio shall be deemed to be greater than 3.00:1.00 for the purposes of determining the Applicable Pricing Rate until the Borrower has remedied such failure and delivered such Compliance Certificate (and, from and after such delivery, the Applicable Pricing Rate shall be based upon the Consolidated Senior Debt to EBITDA Ratio set forth in such Compliance Certificate for the remainder of the period until the next such Compliance Certificate is required to be delivered hereunder).

Margin Changes; Adjustments for Margin Changes. (1) Changes in Applicable Pricing Rate shall be effective: (a) from and as of the day the Borrower delivers a Compliance Certificate pursuant hereto evidencing a change in the Consolidated Senior Debt to EBITDA Ratio which results in a change in the Applicable Pricing Rate in accordance with the provisions of such definition; and (b) without the necessity of notice to the Borrower, provided that, notwithstanding the foregoing provisions of this Section 7.7, if the Borrower has failed to deliver a Compliance Certificate for the immediately preceding fiscal quarter in accordance with the provisions hereof, then the Consolidated Senior Debt to EBITDA Ratio shall be deemed to be greater than 3.00:1.00 for the purposes of determining the Applicable Pricing Rate until the Borrower has remedied such failure and delivered such Compliance Certificate (and, from and after such delivery, the Applicable Pricing Rate shall be based upon the Consolidated Senior Debt to EBITDA Ratio set forth in such Compliance Certificate for the remainder of the period until the next such Compliance Certificate is required to be delivered hereunder). With respect to ▇▇▇▇▇ Loans and SOFR Loans outstanding on the effective date of any such change in Applicable Pricing Rate, changes in the Applicable Pricing Rate shall become applicable thereto upon the next Rollover or Conversion thereof after such change.

Margin Changes; Adjustments for Margin Changes. (1) Changes in Applicable Pricing Rate shall be effective: (a) from and as of the day on which the Borrower delivers a Compliance Certificate pursuant hereto evidencing a change in the Consolidated Senior Debt to EBITDA Ratio which results in a change in the Applicable Pricing Rate in accordance with the provisions of such definition; and (b) without the necessity of notice to the Borrower, provided that, notwithstanding the foregoing provisions of this Section 7.7, if the Borrower has failed to deliver a Compliance Certificate for the immediately preceding fiscal quarter in accordance with the provisions hereof, then the Consolidated Senior Debt to EBITDA Ratio shall be deemed to be greater than 3.00:1.00 4.50:1.00 for the purposes of determining the Applicable Pricing Rate until the Borrower has remedied such failure and delivered such Compliance Certificate (and, from and after such delivery, the Applicable Pricing Rate shall be based upon the Consolidated Senior Debt to EBITDA Ratio set forth in such Compliance Certificate for the remainder of the period until the next such Compliance Certificate is required to be delivered hereunder).

Margin Changes; Adjustments for Margin Changes. (1) Changes in Applicable Pricing Rate shall be effective: (a) from and as of the day the Borrower delivers a Compliance Certificate pursuant hereto evidencing a change in the Consolidated Senior Debt to EBITDA Ratio which results in a change in the Applicable Pricing Rate in accordance with the provisions of such definition; and (b) without the necessity of notice to the Borrower, provided that, notwithstanding the foregoing provisions of this Section 7.7, if the Borrower has failed to deliver a Compliance Certificate for the immediately preceding fiscal quarter in accordance with the provisions hereof, then the Consolidated Senior Debt to EBITDA Ratio shall be deemed to be greater than 3.00:1.00 for the purposes of determining the Applicable Pricing Rate until the Borrower has remedied such failure and delivered such Compliance Certificate (and, from and after such delivery, the Applicable Pricing Rate shall be based upon the Consolidated Senior Debt to EBITDA Ratio set forth in such Compliance Certificate for the remainder of the period until the next such Compliance Certificate is required to be delivered hereunder). With respect to C▇▇▇▇ Loans and SOFR Loans outstanding on the effective date of any such change in Applicable Pricing Rate, changes in the Applicable Pricing Rate shall become applicable thereto upon the next Rollover or Conversion thereof after such change.