Definition of Applicable Margin (Eurodollar Rate)


Applicable Margin (Eurodollar Rate) means, for any date, a rate per annum equal to the Credit Default Swap Spread at the applicable date of determination specified below, provided that in no event shall the Applicable Margin (Eurodollar Rate) be less than 1.25% per annum or greater than 5.00% per annum. The Applicable Margin (Eurodollar Rate) applicable to any Eurodollar Rate Advance for any Interest Period will be determined based on the Credit Default Swap Spread in effect two Business Days prior to the commencement of such Interest Period. The "Credit Default Swap Spread" at any determination date is the credit default swap mid-rate spread applicable to senior debt of the Borrower with a maturity of one year from such determination date (the "Spread (Eurodollar Rate)"), as of the close of business on the Business Day immediately preceding such determination date, as provided by Markit Group Limited through its website or, if no such Spread (Eurodollar Rate) appears on such website, then the Spread (Eurodollar Rate), as of the close of business on the Business Day immediately preceding such determination date, as provided by Bloomberg through its website. If at any time the Credit Default Swap Spread is unavailable and the Borrower and the Banks have been unable to agree, each in its own discretion, on an alternative means of determining the Spread (Eurodollar Rate), the Applicable Margin (Eurodollar Rate) shall be 5.00% per annum.
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