Common use of Margin Ratchet for Revolving Facility Advances Clause in Contracts

Margin Ratchet for Revolving Facility Advances. (a) Subject to paragraph (c) below, if in respect of any Quarter Date falling not less than 6 months after the Original Execution Date, the ratio of Consolidated Net Debt to Consolidated Operating Cashflow computed on the same basis as the ratio set out in paragraph (a) of Clause 23.2 (Ratios) is within the range of ratios set out in column 1 of the table set out below (rounded to the second decimal number), then the Revolving Facility Margin shall be reduced or increased to the percentage rate per annum set out opposite the relevant range in column 2. Leverage Ratio Margin Greater than 3.75:1.00 3.50 % Equal to or less than 3.75:1.00 but greater than 3.25:1.00 3.25 % Equal to or less than 3.25:1.00 but greater than 2.75:1.00 3.00 % Equal to or less than 2.75:1.00 2.75 %

Appears in 4 contracts

Samples: Senior Facilities Agreement (Virgin Media Inc.), Agreement (Virgin Media Inc.), Senior Facilities Agreement (Virgin Media Inc.)

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