Applicable Amendment definition

Applicable Amendment. Any amendment, waiver or consent under this Agreement which, pursuant to Section 12.1, requires the approval of each Lender or each affected Lender, and which has been approved by the Required Lenders.

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Applicable Amendment in the case of any consent set forth in Part II of Schedule 3.4, an amendment to the document to which such consent relates which deletes from such document the section thereof to which such consent relates or amends the section thereof such that consent is no longer required.

Applicable Amendment. Any amendment, waiver or consent under this Agreement which, pursuant to Section 12.1, requires the approval of each Lender or each affected Lender, and which has been approved by the Required Lenders. “Applicable Law”: For any Person or property of such Person, all existing and future laws, rules, regulations (including proposed, temporary and final tax regulations), statutes, treaties, codes, ordinances, permits, certificates, licenses and orders of, and interpretations by, any Governmental Authority which are applicable to such Person or property (including, without limitation, predatory lending laws, usury laws, the ▇▇▇▇-▇▇▇▇▇ ▇▇▇▇ Street Reform and Consumer Protection Act, the Federal Truth in Lending Act, and Regulation Z and Regulation B of the Board of Governors of the Federal Reserve System), and applicable judgments, decrees, injunctions, writs, awards or orders of any court, arbitrator or other administrative, judicial, or quasi-judicial tribunal or agency of competent jurisdiction. “Applicable Spread”: A rate per annum equal to the higher of (x) 1.95% and (y) the percentage determined in accordance with the following formula, rounded to four decimal places: Applicable Spread = (ASF x PercentageF) + (ASO x PercentageO) where: ASF = 1.70%; ASO = 2.20%; PercentageF = Average Adjusted BalanceF / Average Adjusted BalanceAgg; PercentageO = 100% - PercentageF; Average Adjusted BalanceF = (Beginning Adjusted BalanceF + Ending Adjusted BalanceF)/2 Beginning Adjusted BalanceF = Adjusted Balance related to First Lien Loans that are also Broadly Syndicated Loans on the first day of the Accrual Period during which such day occurs; Ending Adjusted BalanceF = Adjusted Balance related to First Lien Loans that are also Broadly Syndicated Loans on the last day of the Accrual Period during which such day occurs; Average Adjusted BalanceAgg = (Beginning Adjusted BalanceAgg + Ending Adjusted BalanceAgg)/2 USActive 37382726.2937382726.

Examples of Applicable Amendment in a sentence

• Allocations accrued after the Applicable Amendment Date will continue to be subject to the restrictions on the form or timing of distributions as set forth in the Original Amendment.

• The Original Amendment is hereby revoked retroactively with respect to: (check one) ¨ All accrued benefits, which are allocations that were accrued as of the Applicable Amendment Date and allocations that were accrued after the Applicable Amendment Date.

• As elected by the Sponsoring Employer in the Election Form, the Original Amendment is hereby revoked retroactively with respect to either (1) all accrued benefits, which are allocations that had accrued as the Applicable Amendment Date and allocations that have accrued after the Applicable Amendment Date; or (2) only accrued benefits as the Applicable Amendment Date, which are allocations that had accrued as the Applicable Amendment Date.

• However, a Plan amendment does not violate Code §411(d)(6) to the extent that the amendment applies to allocations after the Applicable Amendment Date.

• If the Plan is a money purchase plan or a target benefit plan, then in addition to the provisions of paragraph (a) above, for any applicable Plan amendment adopted after December 31, 2006, the Plan may eliminate any/all Optional Forms of Distribution that comprise a Generalized Optional Form for a Participant with respect to allocations that occurred before the Applicable Amendment Date under the “Utilization Test” of Regulation §1.411(d)-3(f).

• The term “Eligible Participant” is a Participant who (A) at any time after the Applicable Amendment Date, was eligible to commence the receipt of benefits under the Plan, determined without regard to the suspension of benefit provisions of the Original Amendment; (B) at the same time, engaged in service for which benefits were not permitted to commence, as determined taking into account the Original Amendment; and (C) is not an Affected Participant (e.g., is a Participant who did not apply for benefits).

• Allocations that have accrued after the Applicable Amendment Date will continue to be subject to the restrictions with respect to the form or timing of distributions from the Plan as enumerated in the Original Amendment.

• The Original Amendment is hereby revoked retroactively with respect to: (check one) o All accrued benefits, which are allocations that were accrued as of the Applicable Amendment Date and allocations that were accrued after the Applicable Amendment Date.

• The Borrower may in its discretion, but shall not have any obligation to, pay any amendment fee to any Bank that does not execute and deliver a counterpart of this Amendment on or before November 21, 1997, provided that the Applicable Amendment Percentage used in calculating the amendment fee for any such bank shall be no greater than .05%.