Pricing Table. Applicable Applicable Base Applicable PRICING RATIO Eurodollar Margin Rate Margin Applicable L/C Commitment Rate (per annum) (per annum) Margin (per annum) (per annum) --------------------------------------------------------------------------------------------------------------- Less than 1.75:1 1.50% 0.00% 1.50% 0.300% --------------------------------------------------------------------------------------------------------------- Greater than or 1.75% 0.00% 1.75% 0.375% equal to 1.75:1 but less than 2.25:1 --------------------------------------------------------------------------------------------------------------- Greater than or 2.00% 0.00% 2.00% 0.375% equal to 2.25:1 but less than 2.75:1 --------------------------------------------------------------------------------------------------------------- Greater than or 2.25% 0.00% 2.25% 0.375% equal to 2.75:1 but less than 3.25:1 --------------------------------------------------------------------------------------------------------------- Greater than or 2.50% 0.25% 2.50% 0.375% equal to 3.25:1 but less than 4.25:1 --------------------------------------------------------------------------------------------------------------- Greater than or 2.75% 0.50% 2.75% 0.50% equal to 4.25:1 --------------------------------------------------------------------------------------------------------------- Initial Pricing 3.00% 0.75% 3.00% 0.50% --------------------------------------------------------------------------------------------------------------- Any change in the applicable margin shall become effective on the first day after receipt by the Banks of financial statements delivered pursuant to ss.6.4(a) or (b) which indicate a change in the Pricing Ratio or, with respect to the Eurodollar Applicable Margin, on the first day of each Interest Period which begins three (3) or more days after receipt of such financial statements. If at any time such financial statements are not delivered within the time periods specified in ss.6.4(a) or (b), the applicable margin shall be the highest rate set forth in the respective column of the Pricing Table, subject to adjustment prospectively upon actual receipt of such financial statements. Notwithstanding the above, the initial pricing set forth in the Pricing Table above shall be effective from the Closing Date until the earlier to occur of (i) the delivery to the Agent of a Compliance Certificate for the fiscal quarter ending December 31, 1998 and (ii) the successful completion of a Qualified Public Offering.
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Pricing Table. Applicable Applicable Base Applicable APPLICABLE APPLICABLE APPLICABLE PRICING RATIO Eurodollar Margin Rate Margin Applicable EURODOLLAR BASE RATE APPLICABLE COMMITMENT MARGIN MARGIN L/C Commitment Rate MARGIN RATE (per annumPER ANNUM) (per annum) Margin (per annumPER ANNUM) (per annumPER ANNUM) --------------------------------------------------------------------------------------------------------------- (PER ANNUM) ----------------------------------------------------------------------------------------------------------------------------- Less than 1.75:1 2.50:1 1.00% 0.00% 1.00% 0.250% ----------------------------------------------------------------------------------------------------------------------------- Greater than or equal 1.25% 0.00% 1.25% 0.375% to 2.50:1 but less than 3.00:1 ----------------------------------------------------------------------------------------------------------------------------- Greater than or equal 1.50% 0.00% 1.50% 0.3000.375% --------------------------------------------------------------------------------------------------------------- to 3.00:1 but less than 3.50:1 ----------------------------------------------------------------------------------------------------------------------------- Greater than or equal 1.75% 0.000.25% 1.75% 0.3750.500% equal to 1.75:1 but less than 2.25:1 --------------------------------------------------------------------------------------------------------------- Greater than or 2.00% 0.00% 2.00% 0.375% equal to 2.25:1 but less than 2.75:1 --------------------------------------------------------------------------------------------------------------- Greater than or 2.25% 0.00% 2.25% 0.375% equal to 2.75:1 but less than 3.25:1 --------------------------------------------------------------------------------------------------------------- Greater than or 2.50% 0.25% 2.50% 0.375% equal to 3.25:1 but less than 4.25:1 --------------------------------------------------------------------------------------------------------------- Greater than or 2.75% 0.50% 2.75% 0.50% equal to 4.25:1 --------------------------------------------------------------------------------------------------------------- Initial Pricing 3.00% 0.75% 3.00% 0.50% --------------------------------------------------------------------------------------------------------------- 3.50:1 ----------------------------------------------------------------------------------------------------------------------------- Any change in the applicable margin shall become effective on the first day after receipt by the Banks of financial statements delivered pursuant to ss.6.4(aSection 6.4(a) or (b) which indicate a change in the Pricing Ratio or, with respect to the Eurodollar Applicable Margin, on the first day of each Interest Period which begins three (3) or more days after receipt of such financial statements. If at any time such financial statements are not delivered within the time periods specified in ss.6.4(aSection 6.4(a) or (b), the applicable margin shall be the highest rate set forth in the respective column of the Pricing Table, subject to adjustment prospectively upon actual receipt of such financial statements. Notwithstanding the above, the initial pricing set forth in the Pricing Table above shall be effective from the Closing Date until the earlier to occur of (i) the delivery to the Agent of a Compliance Certificate for the fiscal quarter ending December 31, 1998 and (ii) the successful completion of a Qualified Public Offering.
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Pricing Table. Applicable Applicable Base Applicable APPLICABLE APPLICABLE BASE RATE APPLICABLE PRICING RATIO Eurodollar Margin Rate Margin Applicable EURODOLLAR MARGIN APPLICABLE COMMITMENT RATE MARGIN (PER ANNUM) L/C Commitment Rate MARGIN (per annumPER ANNUM) (per annum) Margin (per annumPER ANNUM) (per annumPER ANNUM) --------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------- Less than 1.75:1 1.50% 0.00% 1.50% 0.300% --------------------------------------------------------------------------------------------------------------- Greater than or 1.75% 0.00% 1.75% 0.375% equal to 1.75:1 but less than 2.25:1 --------------------------------------------------------------------------------------------------------------- Greater than or 2.50:1 2.00% 0.00% 2.00% 0.3750.50% --------------------------------------------------------------------------------------------------------------------- -13- --------------------------------------------------------------------------------------------------------------------- Greater than or equal to 2.25:1 2.50:1 2.25% 0.25% 2.25% 0.50% but less than 2.75:1 --------------------------------------------------------------------------------------------------------------- 3.00:1 --------------------------------------------------------------------------------------------------------------------- Greater than or 2.25% 0.00% 2.25% 0.375% equal to 2.75:1 but less than 3.25:1 --------------------------------------------------------------------------------------------------------------- Greater than or 2.50% 0.25% 2.50% 0.375% equal to 3.25:1 but less than 4.25:1 --------------------------------------------------------------------------------------------------------------- Greater than or 3.00:1 2.75% 0.50% 2.75% 0.50% equal to 4.25:1 --------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------- Initial Pricing 3.00% 0.75% 3.002.75% 0.50% --------------------------------------------------------------------------------------------------------------- 2.75% 0.50% --------------------------------------------------------------------------------------------------------------------- Any change in the applicable margin shall become effective on the first day after receipt by the Banks of financial statements delivered pursuant to ss.6.4(aSection 6.4(a) or (b) which indicate a change in the Pricing Ratio or, with respect to the Eurodollar Applicable Margin, on the first day of each Interest Period which begins three (3) or more days after receipt of such financial statements. If at any time such financial statements are not delivered within the time periods specified in ss.6.4(aSection 6.4(a) or (b), the applicable margin shall be the highest rate set forth in the respective column of the Pricing Table, subject to adjustment prospectively upon actual receipt of such financial statements. Notwithstanding the above, the The initial pricing set forth in the Pricing Table table above shall be effective from the Closing Date until the earlier to occur of (i) the delivery Borrowers deliver to the Agent a calculation of a Compliance Certificate the Pricing Ratio for the fiscal quarter ending December 31, 1998 and (ii) the successful completion of a Qualified Public Offering1997.
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Sources: Revolving Credit Agreement (Waste Connections Inc/De)