THIRD AMENDMENT TO CREDIT AGREEMENTCredit Agreement • June 4th, 2010 • Asset Acceptance Capital Corp • Short-term business credit institutions • Michigan
The Applicable Margin shall be determined in accordance with the foregoing table based on the Leverage Ratio as of the end of each Fiscal Quarter. Adjustments, if any, to the Applicable Margin shall be effective the first day of the month following the month that the Administrative Agent is scheduled to receive the applicable financials under Section 5.01(a) or (b) and certificate under Section 5.01(c). If the Borrower fails to deliver the financials to the Administrative Agent at the time required hereunder, then the Applicable Margin shall be set at Level III until such financials are so delivered. Notwithstanding anything herein to the contrary, the Applicable Margin shall be set at Level III as of the effective date of the Third Amendment to this Agreement, and shall not be changed from Level III until receipt of the financials under Section 5.01(a) and the certificate under Section 5.01(c) for the fiscal year ending December 31, 2010.
