AMENDED AND RESTATED CREDIT FACILITY AGREEMENTCredit Facility Agreement • November 16th, 2006 • Phoenix Footwear Group Inc • Footwear, (no rubber) • New York
The Applicable Margin shall be fixed at Level I on the date of this Agreement. Thereafter, changes, if any, in the Level applicable to Loans will be effective on the tenth (10th) day following each date on which the Borrower’s Quarterly Covenant Compliance Certificate is required to be delivered to the Lenders. In the event that any Quarterly Covenant Compliance Certificate is not delivered by the date required, pricing will revert to Level I until the tenth (10th) day following the date of delivery of the delayed Quarterly Covenant Compliance Certificate, on which tenth day pricing will be adjusted to the applicable level shown by the Quarterly Covenant Compliance Certificate.
