Interest Rate Matrix definition
Interest Rate Matrix means the following table, which sets forth the Applicable Base Rate Margin, the Applicable LIBOR Margin and the Unused Commitment Fee Percentage based on the Consolidated Funded Debt to Consolidated EBITDA ratio then in effect, which shall be used to calculate the interest rate on an Interest Rate Determination Date; provided however, that during any Interest Period, the Agent shall adjust the Applicable Base Rate Margin, the Applicable LIBOR ▇▇▇▇▇▇ and the Unused Commitment Fee Percentage to reflect the Consolidated Funded Debt to Consolidated EBITDA ratio last reported by Borrower, and such adjustment shall be effective on the first Business Day following delivery of such report: Less than or equal to 2.00 3.00 % 4.00 % 0.375 % 2.01 to 2.50 3.375 % 4.375 % 0.500 % 2.51 to 3.00 3.875 % 4.875 % 0.600 % 3.01 to 3.50 4.500 % 5.500 % 0.750 % Greater than 3.50 (Technical Default) 6.00 % Not Applicable