Costs of Utilisation. 8 Interest
Costs of Utilisation. 8 INTEREST
Costs of Utilisation. (a) The rate of interest on each Loan for any day during an Interest Period is the percentage rate per annum which is the aggregate of the applicable:
Costs of Utilisation. 8 Interest Calculation of interest
Costs of Utilisation. 9 RATE SWITCH
Costs of Utilisation. INTEREST Calculation of interest Subject to paragraphs (b) and (c), the rate of interest on each Loan for each Interest Period is the percentage rate per annum which is the aggregate of the applicable: Margin; in the case of Second Lien Facility Loans only, PIK Margin; EURIBOR (in the case of a Loan denominated in Euro) or LIBOR (in the case of a Loan denominated in an Optional Currency); and Mandatory Cost, if any. If Debt Cover in respect of the most recently completed Relevant Period is within a range set out below (as certified in a Compliance Certificate from the Parent in respect of such Relevant Period), then the Margin for each First Lien Facility Loan, Revolving Facility Loan and Second Lien Facility Loan will be the percentage per annum set out below in the column for that Facility opposite that range: Debt Cover First Lien Facility Loan Revolving Facility Loan Margin % p.a. Second Lien Facility Loan Margin % p.a. Greater than or equal to 3.5: 1.00 5.5 9.0 Less than 3.5: 1.00 but greater than or equal to 3.0: 1.00 5.0 8.5 Less than 3.0: 1.00 4.5 8.0 However: any increase or decrease in the Margin for a Loan shall take effect on the date (the “reset date”) which is the first day of the next Interest Period for that Loan following receipt by the Agent of the Compliance Certificate for that Relevant Period pursuant to Clause 26.3 (Financial testing); if, following receipt by the Agent of the annual audited financial statements of the BST Group and related Compliance Certificate, those statements and Compliance Certificate do not confirm the basis for a reduced Margin, then each Margin shall revert to the level based on the Debt Cover as demonstrated by those statements and in accordance with paragraph (b) above;
Costs of Utilisation
