Pricing Reduction Clause Samples

Pricing Reduction. If the Total Funded Debt to EBITDA Ratio as of the end of any fiscal quarter of the Parent is 2.50 to 1.0 or less as calculated by the Parent in its quarterly compliance certificate delivered pursuant to Section 8.5(l), the interest rate margins set forth in Sections 1.4(a) and 1.4(b) hereof and the periodic letter of credit fee (but not the issuance fee) set forth in Section 2.1(b) hereof shall each be reduced by 1.0% per annum and pricing shall be maintained at such reduced rate until such time as the Parent is no longer able to demonstrate in such required quarterly compliance certificate that the Total Funded Debt to EBITDA Ratio as of the end of the most recent fiscal quarter has been maintained at 2.50 to 1.0 or less (or until such time, if sooner, as the Parent fails to timely deliver such required quarterly compliance certificate). 2.4. Section 1.8(a) of the Credit Agreement is hereby amended and restated to read in its entirety as follows: