Applicable Revolving Loan Margin definition

Applicable Revolving Loan Margin means (i) 175 basis points for Revolving Loans that are Base Rate Loans, (ii) 275 basis points for Revolving Loans that are Eurocurrency Loans denominated in an Approved Currency other than Euros and (iii) 325 basis points for Revolving Loans that are Eurocurrency Loans denominated in Euros.

Applicable Revolving Loan Margin means, with respect to Initial Revolving Loans, for any day, with respect to any Base Rate Loan or Eurodollar Loan, as the case may be, the applicable rate per annum set forth below under the caption “Base Rate Margin” or “Eurodollar Margin,” as the case may be, based upon the Average Excess Availability as of the most recent Adjustment Date:

Applicable Revolving Loan Margin means (i) 3.00% for the period from the Closing Date through and including the first day of the month following receipt by the Bank of the consolidated financial statements described in Section 6.01(b) for the period ending June 30, 2002 and (ii) thereafter shall be determined by reference to the Total Consolidated Debt to Consolidated EBITDA Ratio in accordance with the following table: Total Consolidated Debt to Applicable Revolving Consolidated EBITDA Ratio Loan Margin Equal to or higher than 3.0 to 1 3.25% Equal to or higher than 2.5 to 1 3.00% but lower than 3.0 to 1 Equal to or higher than 2.0 to 1 2.75% but lower than 2.5 to 1 Equal to or higher than 1.5 to 1 2.25% but lower than 2.0 to 1 Equal to or higher than 1.0 to 1 1.75% but lower than 1.5 to 1 Lower than 1.0 to 1 1.50% Except during the initial period described in clause (i) above, the Applicable Revolving Loan Margin will be automatically adjusted as of the first day of the month following receipt by the Bank of consolidated financial statements of the Borrower and its Consolidated Subsidiaries pursuant to Section 6.01(a) or Section 6.01(b) demonstrating to the Bank's reasonable satisfaction that there has been a change in the Total Debt to EBITDA Ratio which would cause a change in the Applicable Revolving Loan Margin in accordance with the preceding table. Any such change shall apply to the Revolving Loans outstanding on such effective date or made on or after such effective date. At all times after and during the continuance of a Default with respect to the Borrower's obligations under Section 6.01(a) or Section 6.01(b) until the delivery of the applicable financial statements required pursuant thereto, the Applicable Revolving Loan Margin shall be 3.25%.

Examples of Applicable Revolving Loan Margin in a sentence

• The outstanding principal amount of each Swing Loan shall bear interest from the date of the Borrowing at a rate equal to the Base Rate plus the Applicable Revolving Loan Margin for Base Rate Loans in effect from time to time.

• The Borrower agrees to pay to the Administrative Agent for the ratable benefit of each Lender based upon each such Lender’s Revolving Facility Percentage, a fee in respect of each Letter of Credit issued hereunder that is a Commercial Letter of Credit to be paid in U.S. Dollars in an amount equal to (A) the Applicable Revolving Loan Margin for Revolving Loans that are Eurodollar Loans in effect on the date of issuance times (B) the Stated Amount of such Letter of Credit.

• The outstanding principal amount of each Revolving Loan made by each Lender shall bear interest at a fluctuating rate per annum that shall at all times be equal to (i) during such periods as such Revolving Loan is a Base Rate Loan, the Base Rate plus the Applicable Revolving Loan Margin and (ii) during such periods as such Revolving Loan is a Eurodollar Loan, the relevant Adjusted Eurodollar Rate for such Eurodollar Loan for the applicable Interest Period plus the Applicable Revolving Loan Margin.

• The Borrower agrees to pay to the Administrative Agent for the ratable benefit of each Lender based upon each such Lender’s Revolving Facility Percentage, a fee in respect of each Letter of Credit issued hereunder that is a Commercial Letter of Credit in an amount equal to (A) the Applicable Revolving Loan Margin for Revolving Loans that are Eurodollar Loans in effect on the date of issuance times (B) the Stated Amount of such Letter of Credit.

• The Borrower will pay to the Bank promptly upon demand any and all amounts paid by the Bank under any Letter of Credit, as provided in the applicable Letter of Credit Application, together with interest on such amount from the date such amount was paid by the Bank to the date it receives payment in federal or other immediately available funds at LIBOR plus the Applicable Revolving Loan Margin, with such rate to be reset on each day on which there is a change to LIBOR.

More Definitions of Applicable Revolving Loan Margin

Applicable Revolving Loan Margin means, for any day, with respect to any Revolving Loan that is an ABR Loan, 6.00% per annum, and any Revolving Loan that is a Eurodollar Loan, 7.00% per annum.

Applicable Revolving Loan Margin means (a) in the case of Base Rate Loans, 1.50% per annum and (b) in the case of LIBO Rate Loans, 2.50% per annum.

Applicable Revolving Loan Margin for each Type of Revolving Loan, as set forth below: Revolving Loan Leverage Level LIBOR Margin Base Rate Margin -------------- ------------ ---------------- 1 (less than or equal to 1.00) 1.25% per annum 0 2 (greater than 1.00 less than or equal to 1.50) 1.50% per annum 0 3 (greater than 1.50 less than or equal to 1.75) 1.75% per annum 0 4 (greater than 1.75 less than or equal to 2.00) 2.00% per annum 0 5 (greater than 2.00) 2.25% per annum 0.25% per annum

Applicable Revolving Loan Margin shall be determined with reference to Borrower’s most recent Consolidated Leverage Ratio as follows: Consolidated Leverage Ratio Applicable Margin <3.50x but >2.75x 0.65% <2.75x but >2.00x 0.90% <2.00x 1.15%

Applicable Revolving Loan Margin means 375 basis points.

Applicable Revolving Loan Margin with respect to Revolving Loans and -------------------------------- Incremental Loans, for each LIBOR Loan and for each Base Rate Loan as set forth below: Revolving Loan Leverage Level LIBOR Base Rate -------------- ----- --------- -------------------------------------------------------------- Revolving Loan Leverage Level LIBOR Base Rate -------------- ----- --------- -------------------------------------------------------------- 1(**6.50:1) 2.375% 1.125% -------------------------------------------------------------- 2(**6.00:1 - *6.50:1) 2.125% 0.875% -------------------------------------------------------------- 3(**5.50:1 - *6.00:1) 1.875% 0.625% -------------------------------------------------------------- 4(**5.00:1 - *5.50:1) 1.625% 0.375% -------------------------------------------------------------- 5(**4.50:1 - *5.00:1) 1.375% 0.125% -------------------------------------------------------------- 6(**4.00:1 - *4.50:1) 1.125% 0.000% -------------------------------------------------------------- 7(*4.00:1) 0.875% 0.000% -------------------------------------------------------------- _____________ * Less than ** Greater than or equal to

Applicable Revolving Loan Margin is hereby amended and restated in its entirety as follows: