Base Letter definition
Base Letter. Eurodollar Rate of Fixed Charge Coverage Rate Loan Loan Credit Commitment Fee Level Ratio Margin Margin Margin Percentage ----- ------------------------ ---------- ------ ------ -------------- I Less than or equal to 3.50% 1.00% 3.50% .500% 1.10:1.00 II Greater than 1.10:1.00 2.25% 0.50% 2.50% .375% but less than or equal to 1.25:1.00 III Greater than 1.25:1.00 2.00% 0.00% 2.25% .250% Notwithstanding the foregoing, if the Borrowers fail to deliver any certificate when required by 'SS'9.1(a)(iv) hereof then, for the period commencing on the next Adjustment Date to occur subsequent to such failure through the day immediately following the date on which such certificate is delivered, the Applicable Margin shall be the Applicable Margin set forth above in Level I."