Applicable Pricing Grid definition
Applicable Pricing Grid the table set forth below: Changes in the Applicable Margin resulting from changes in the Consolidated Net Leverage Ratio shall become effective on the date (the “Adjustment Date”) that is three Business Days after the date on which financial statements are delivered to the Administrative Agent pursuant to Section 6.1 and shall remain in effect until the next change to be effected pursuant to this paragraph. If any financial statements referred to above are not delivered within the time periods specified in Section 6.1, then, until the date that is three Business Days after the date on which such financial statements are delivered, the highest rate set forth in each column of the Applicable Pricing Grid shall apply. In addition, at all times while an Event of Default under Section 8(a) or Section 8(f) shall have occurred and be continuing, the highest rate set forth in each column of the Applicable Pricing Grid shall apply. Each determination of the Consolidated Net Leverage Ratio pursuant to the Applicable Pricing Grid shall be made in a manner consistent with the determination thereof pursuant to Section 7.1. In the event that any financial statement or Compliance Certificate delivered pursuant to Section 6.1 or 6.2(b), respectively, is shown to be inaccurate, and such inaccuracy, if corrected, would have led to a higher Applicable Margin for any period (an “Applicable Period”) than the Applicable Margin applied for such Applicable Period, then (i) the Borrower shall immediately deliver to the Administrative Agent a correct Compliance Certificate for such Applicable Period, (ii) the Applicable Margin shall be determined by reference to the corrected Compliance Certificate (but in no event shall the Administrative Agent or the Lenders owe any amounts to Borrower), and (iii) the Borrower shall immediately pay to the Administrative Agent the additional interest owing as a result of such increased Applicable Margin for such Applicable Period, which payment shall be promptly applied by the Administrative Agent in accordance with the terms hereof. This paragraph shall not limit the rights of the Administrative Agent and the Lenders hereunder.
Applicable Pricing Grid means the table set forth on Schedule 1.1C.
Applicable Pricing Grid means the table set forth below:
More Definitions of Applicable Pricing Grid
Applicable Pricing Grid the table set forth below: Consolidated Net Leverage Ratio Applicable Margin for Term SOFR Loans; and Daily Floating Rate Loans Applicable Margin for ABR Loans Commitment Fee Rate ≥ 4.00:1 2.502.75 % 1.501.75 % 0.350 % < 4.00:1 but ≥ 3.25:1 2.252.50 % 1.251.50 % 0.300 % < 3.25:1 but ≥ 2.50:1 2.002.25 % 1.001.25 % 0.250 % < 2.50:1.00 but ≥ 2.00:1 1.752.00 % 0.751.00 % 0.200 % < 2.00:1 1.501.75 % 0.500.75 % 0.1750.200 % For the purposes of the Applicable Pricing Grid, changes in the Applicable Margin resulting from changes in the Consolidated Net Leverage Ratio shall become effective on the date (the “most recent Adjustment Date”) that is three Business Days after the date on which financial statements (and related Compliance Certificate) are delivered to the Lenders pursuant to Section 6.1 and shall remain in effect until the next change to be effected pursuant to this paragraph. If any financial statements (and related Compliance Certificate) referred to above are not delivered within the time periods specified in Section 6.1, then, until the date that is three Business Days after the date on which such financial statements (and related Compliance Certificate) are delivered, the highest rate set forth in each column of the Applicable Pricing Grid shall apply. In addition, at all times while an Event of Default shall have occurred and be continuing, upon request of the Required Lenders, the highest rate set forth in each column of the Applicable Pricing Grid shall apply. Each determination of the Consolidated Net Leverage Ratio pursuant to the Applicable Pricing Grid shall be made in a manner consistent with the determination thereof pursuant to Section 7.1.
Applicable Pricing Grid with respect to the Revolving Loans, Term Loans and the Commitment Fee Rate, the table set forth below: Consolidated First Lien Net Leverage Ratio Applicable Margin forEurodollar Loans(Revolving Loans and Term Loans) Applicable Margin forABR Loans(Revolving Loans and Term Loans) Commitment Fee Rate For the purposes of the Applicable Pricing Grid, changes in the Applicable Margin and the Commitment Fee Rate resulting from changes in the Consolidated First Lien Net Leverage Ratio shall become effective on the date (the “Adjustment Date”) that is three Business Days after the date on which financial statements are delivered to the Lenders pursuant to Section 6.1 and shall remain in effect until the next change to be effected pursuant to this paragraph. If any financial statements referred to above are not delivered within the time periods specified in Section 6.1, then, until the date that is three Business Days after the date on which such financial statements are delivered, the highest rate set forth in each column of the table set forth above shall apply. In addition, at all times while an Event of Default under Section 8.1(a) or (f) shall have occurred and be continuing, the highest rate set forth in each column of the table set forth above shall apply. Each determination of the Consolidated First Lien Net Leverage Ratio for purposes of the Applicable Pricing Grid shall be made in a manner consistent with the determination thereof pursuant to Section 7.1(a).
Applicable Pricing Grid the table set forth below I Greater than or equal to 4.00:1.00 2.25 % 1.25 % 0.50 % II Greater than or equal to 3.50:1.00 and less than 4.00:1.00 2.00 % 1.00 % 0.375 % III Greater than or equal to 3.00:1.00 and less than 3.50:1.00 1.75 % 0.75 % 0.375 % IV Greater than or equal to 2.50 and less than 3.00:1.00 1.50 % 0.50 % 0.25 % V Less than 2.50:1.00 1.25 % 0.25 % 0.25 % For the purposes of the Applicable Pricing Grid above, changes in the Applicable Margin resulting from changes in the Consolidated Leverage Ratio shall become effective on the date (the “Adjustment Date”) on which financial statements are delivered to the Lenders pursuant to Section 6.1 and shall remain in effect until the next change to be effected pursuant to this paragraph. If any financial statements referred to above are not delivered within the time periods specified in Section 6.1, then, until the date on which such financial statements are delivered, the Administrative Agent, at the request of the Required Lenders, may elect to apply the highest rate set forth in each column of the Applicable Pricing Grid. Each determination of the Consolidated Leverage Ratio pursuant to the Applicable Pricing Grid shall be made in a manner consistent with the determination thereof pursuant to Section 7.1.
Applicable Pricing Grid the table set forth below: Greater than 6.00 to 1.00 2.50 1.50 0.50 Less than 6.00 to 1.00 but greater than 5.00 to 1.00 2.25 1.25 0.50 Less than 5.00 to 1.00 2.00 1.00 0.375 For the purposes of the Applicable Pricing Grid, changes in the Applicable Margin resulting from changes in the Total Leverage Ratio shall become effective on the date (the “Adjustment Date”) that is one Business Day after the date on which financial statements are delivered to the Lenders pursuant to Section 5.04 and shall remain in effect until the next change to be effected pursuant to this paragraph. If any financial statements referred to above are not delivered within the time periods specified in Section 5.04, then, until the date that is one Business Day after the date on which such financial statements are delivered, the highest rate set forth in each column of the Applicable Pricing Grid shall apply. In addition, at all times while an Event of Default shall have occurred and be continuing, the highest rate set forth in each column of the Applicable Pricing Grid shall apply. Each determination of the Total Leverage Ratio pursuant to the Applicable Pricing Grid shall be made in a manner consistent with the determination thereof pursuant to Section 6.10.
Applicable Pricing Grid means the table set forth below: Level ▇▇▇▇▇’▇/S&P Ratings Commitment Fee Rate Applicable Margin Eurodollar Loans Applicable Margin ABR Loans I B2/B or worse 0.5% 4.25% 3.25% II B1/B+ 0.5% 4.00% 3.00% III Ba3/BB-or better 0.5% 3.75% 2.75% For the purposes of the foregoing, (i) if the Ratings established by ▇▇▇▇▇’▇ and S&P shall fall within different Levels, the Applicable Margin and the Commitment Fee Rate shall be based on the higher of the two Ratings unless one of the two Ratings is two Levels lower than the other, in which case the Applicable Margin and the Commitment Fee Rate shall be determined by reference to the Level next below that of the higher of the two Ratings, (ii) if the Ratings established by ▇▇▇▇▇’▇ and S&P shall be changed (other than as a result of a change in the rating system of ▇▇▇▇▇’▇ or S&P), such change shall be effective as of the date on which it is first announced by the applicable rating agency and (iii) if neither ▇▇▇▇▇’▇ nor S&P shall have in effect a Rating, the Applicable Margin and Commitment Fee Rate shall be based on Level I. Each change in the Applicable Margin and/or Commitment Fee Rate shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change. If either (but not both) of ▇▇▇▇▇’▇ and S&P shall cease to have in effect a Rating (whether as a result of such agency ceasing to be in the business of rating corporate borrowers or otherwise), the Applicable Margin and Commitment Fee Rate shall be determined by reference to the Rating of the other rating agency.
Applicable Pricing Grid with respect to Initial Term Loans, 2021 Delayed Draw Term Loans, 2021 Delayed Draw Term Commitments, Revolving Loans, Swingline Loans and the Commitment Fee Rate, the table set forth below: Level I < 3.00:1.00 0.25% 1.25% 0.175% Level II ≥ 3.00:1.00 but < 3.50:1.00 0.375% 1.375% 0.20% Level III ≥ 3.50:1.00 but < 4.00:1.00 0.625% 1.625% 0.25% Level IV ≥ 4.00:1.00 but < 4.50:1.00 0.875% 1.875% 0.30% Level V ≥ 4.50:1.00 1.00% 2.00% 0.35% For the purposes of the Applicable Pricing Grid, changes in the Applicable Margin resulting from changes in the Consolidated Total Leverage Ratio shall become effective on the date (the “Adjustment Date”) that is three Business Days after the date on which financial statements are delivered to the Administrative Agent pursuant to Section 6.1 commencing with the fiscal period ending December 31, 2019 and shall remain in effect until the next change to be effected pursuant to this paragraph. If any financial statements referred to above are not delivered within the time periods specified in Section 6.1, then, until the date that is three Business Days after the date on which such financial statements are delivered, the highest rate set forth in each column of the Applicable Pricing Grid shall apply. Each determination of the Consolidated Total Leverage Ratio pursuant to the Applicable Pricing Grid shall be made in a manner consistent with the determination thereof pursuant to Section 7.1(b).
Applicable Pricing Grid with respect to Tranche A Term Loans, Revolving Loans, Swingline Loans and the Commitment Fee Rate, the table set forth below: Level I ≥ 4.00:1.00 1.000 % 2.000 % 1.000 % 2.000 % 0.300 % Level II ≥ 3.50:1.00 but < 4.00:1.00 0.750 % 1.750 % 0.750 % 1.750 % 0.300 % Level III ≥ 2.50:1.00 but < 3.50:1.00 0.500 % 1.500 % 0.500 % 1.500 % 0.250 % Level IV ≥ 1.50:1.00 but < 2.50:1.00 0.250 % 1.250 % 0.250 % 1.250 % 0.200 % Level V < 1.50:1.00 0.125 % 1.125 % 0.125 % 1.125 % 0.150 % For the purposes of the Applicable Pricing Grid, changes in the Applicable Margin resulting from changes in the Consolidated Leverage Ratio shall become effective on the date (the “Adjustment Date”) that is three Business Days after the date on which financial statements are delivered to the Administrative Agent pursuant to Section 6.1 and shall remain in effect until the next change to be effected pursuant to this paragraph. If any financial statements referred to above are not delivered within the time periods specified in Section 6.1, then, until the date that is three Business Days after the date on which such financial statements are delivered, the highest rate set forth in each column of the Applicable Pricing Grid shall apply. Each determination of the Consolidated Leverage Ratio pursuant to the Applicable Pricing Grid shall be made in a manner consistent with the determination thereof pursuant to Section 7.1.