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

Margin Changes; Adjustments for Margin Changes. Changes in the Applicable Pricing Rate for the Credit Facilities shall be effective (without the necessity of any notice to any of the Borrowers) from and as of the day upon which the Canadian Borrower delivers a Compliance Certificate pursuant to Section 9.1(e)(iv) which evidences a change in the Senior Secured Debt to EBITDA Ratio that would result in a change in the level in the table set out in the definition of Applicable Pricing Rate that is applicable to the Credit Facilities; provided that, in the case of Benchmark Loans, such change will not be effective until the next Rollover or Conversion thereof after such change.

Margin Changes; Adjustments for Margin Changes. Changes in the Applicable Pricing Rate for the Credit Facilities shall be effective (without the necessity of any notice to any of the BorrowersBorrower) from and as of the day upon which the Canadian Borrower delivers a Compliance Certificate pursuant to Section 9.1(e)(iv) which evidences a change in the Senior Secured Debt to EBITDA Ratio that would result in a change in the level in the table set out in the definition of Applicable Pricing Rate that is applicable to the Credit Facilities; provided that, in the case of Benchmark Loans, such change will not be effective until the next Rollover or Conversion thereof after such change.