Applicable Margin

Applicable Margin. Shall mean, at any time, as to the Interest Rate for Prime Rate Loans and the Interest Rate for Eurodollar Rate Loans, the applicable percentage (on a per annum basis) set forth below if the Quarterly Average Excess Availability for the immediately preceding calendar quarter is at or within the amounts indicated for such percentage: Quarterly Average Excess Availability Applicable Margin for Prime Rate Loans Applicable Margin for Eurodollar Rate Loans ... ApplicableL/C Rate Tier 1 Greater than $25,000,000 1.00% 2.50% 2.50% Tier 2 Less than or equal to $25,000,000 and greater than $10,000,000 1.25% 2.75% 2.75% Tier 3 Less than or equal to $10,000,000 1.50% 3.00% 3.00% provided, that, (i) the Applicable Margin shall be calculated and established once each calendar quarter and shall remain in effect until adjusted thereafter after the end of such calendar quarter, (ii) each adjustment of the Applicable Margin shall be effective as of the first day of a calendar quarter based on the Quarterly Average Excess Availability for the immediately preceding calendar quarter, and (iii) the Applicable Margin for the period through and including the full calendar quarter ending on December 31, 2011 shall be no less than the amount for Tier 2 set forth above. View More

Applicable Margin. Means, with respect to any Advance, (a) during any time when an Event of Default exists, 9.5% per annum, (b) during any time which the Leverage Ratio is greater than 4.00 to 1.00, 8.0% per annum, provided that for each calendar quarter beginning on October 1, 2006 for which the Leverage Coverage Ratio is greater than 4.00 to 1.00, such 8.0% per annum rate shall increase by .25% on the first day of such calendar quarter to a maximum of 9.5% per annum, and (c) at any time other than as provided... in (a) and (b) above, 6.5% per annum. View More

Applicable Margin. Means: (a) with respect to Term Loans, (i) at all times prior to the Reset Date, 1.50% for Term Loans maintained as Base Rate Loans and 2.50% for Term Loans maintained as LIBO Rate Loans and (ii) at all times after the Reset Date, the applicable percentage set forth below corresponding to the relevant Leverage Ratio determined by reference to the Leverage Ratio set forth in the Compliance Certificate most recently delivered by the Borrower to the Administrative Agent; and (b) with... respect to Revolving Loans, (i) at all times prior to the Reset Date, 2.50% for Revolving Loans maintained as Base Rate Loans and 3.50% for Revolving Loans maintained as LIBO Rate Loans and (ii) at all times after the Reset Date, the applicable percentage set forth below corresponding to the relevant Leverage Ratio determined by reference to the Leverage Ratio set forth in the Compliance Certificate most recently delivered by the Borrower to the Administrative Agent: 2 Leverage Ratio Applicable Margin for Term Loans maintained as Base Rate Loans Applicable Margin for Term Loans maintained as LIBO Rate Loans Applicable Margin for Revolving Loans maintained as Base Rate Loans Applicable Margin for Revolving Loans maintained as LIBO Rate Loans > 3.75:1 1.50 % 2.50 % 2.50 % 3.50 % < 3.75:1 but > 3.25:1 1.25 % 2.25 % 2.25 % 3.25 % < 3.25:1 but > 2.75:1 1.25 % 2.25 % 2.00 % 3.00 % < 2.75:1 1.25 % 2.25 % 1.75 % 2.75 % Changes in the Applicable Margin resulting from a change in the Leverage Ratio shall become effective upon delivery by the Borrower to the Administrative Agent of a new Compliance Certificate pursuant to clause (c) of Section 7.1.1. If the Borrower fails to deliver a Compliance Certificate within 45 days after the end of any Fiscal Quarter (or within 90 days, in the case of the last Fiscal Quarter of the Fiscal Year), the Applicable Margin from and including the 46th (or 91st, as the case may be) day after the end of such Fiscal Quarter to but not including the date the Borrower delivers to the Administrative Agent a Compliance Certificate shall be the highest Applicable Margin set forth above. View More

Applicable Margin. Means the Applicable Margin in effect from time to time determined in accordance with the grid set forth below: TIER Ratio of Net Funded Debt to EBITDA Applicable Margin for Domestic Rate Loans Applicable Margin for Eurodollar Rate Loans I Less than 1.00 to 1 0 % 1.00 % II Greater than or equal to 1.00 to... 1 but less than or equal to 1.50 to 1 0 % 1.25 % III Greater than 1.50 to 1 but less than or equal to 2.00 to 1 0 % 1.50 % IV Greater than 2.00 to 1 .25 % 1.75 % Commencing on the date hereof, the Tier I Applicable Margin shall be in effect until adjusted in accordance with the terms hereof. The first adjustment of the Applicable Margin will occur on the fifth (5th) Business Day following Agent's receipt of Borrower's audited financial statements and Compliance Certificate for Borrower's December 31, 2005 fiscal year-end in accordance with Section 9.7 hereof. Thereafter, the Applicable Margin will be adjusted quarterly (based on the ratio of Borrower's Net Funded Debt to EBITDA for the immediately preceding rolling four (4) fiscal quarter period) on the date which is five (5) business days subsequent to Agent's receipt of Borrower's compliance certificate delivered pursuant to Section 9.8 hereof. The Applicable Margin shall be determined as provided in the grid set forth above and remain in effect until adjusted in accordance 2 with the terms hereof. Should Borrower fail to deliver to Agent any quarterly compliance certificate when and as required under Section 9.8 hereof, in addition to the other rights and remedies Agent has under this Agreement, Agent may, in its discretion, immediately increase the Applicable Margin then in effect to the highest Applicable Margin set forth in the grid set forth above. If Borrower subsequently delivers the tardy quarterly compliance certificate after Agent has adjusted the Applicable Margin to the highest level, and such compliance certificate indicates that the Applicable Margin should be at a lower level, Agent will adjust the Applicable Margin effective as of the fifth (5th) Business Day following Agent's receipt of such compliance certificate, but not retroactively, which Applicable Margin shall remain in effect until adjusted in accordance with the terms hereof. Notwithstanding anything to the contrary contained in this paragraph, if Agent determines that the calculations of the ratio of Borrower's Net Funded Debt to EBITDA for the applicable test period in any compliance certificate are incorrect, Agent may adjust the Applicable Margin as set forth in the immediately preceding paragraph based on its own good faith calculation of the ratio of Borrower's Net Funded Debt to EBITDA for the applicable test period. View More

Applicable Margin. ‘Applicable Margin' means, for any day (a) with respect to any Tranche B Term Loan, (i) if the Leverage Ratio is less than 2.50 to 1.00, (A) 1.50% per annum, in the case of an ABR Loan, or (B) 2.50% per annum, in the case of a Eurodollar Loan, and (ii) if the Leverage Ratio is greater than or equal to 2.50 to 1.00 (Category 1), (A) 1.75% per annum, in the case of an ABR Loan, or (B) 2.75% per annum, in the case of a Eurodollar Loan, and (b) with respect to any ABR Loan or Eurodollar Loan that... is a Revolving Loan or a Tranche A Term Loan the applicable rate per annum set forth below under the caption "Eurodollar Spread" or "ABR Spread", as the case may be, based upon the Leverage Ratio as of the most recent determination date. Leverage Ratio: Eurodollar Spread ABRSpread Category 1 Greater than or equal to 2.50 to 1.00 2.50% 1.50% Category 2 Greater than or equal to 2.00 to 1.00 but less than 2.50 to 1.00 2.25% 1.25% 2 Category 3 Greater than or equal to 1.50 to 1.00 but less than 2.00 to 1.00 2.00% 1.00% Category 4 Greater than or equal to 1.00 to 1.00 but less than 1.50 to 1.00 1.75% 0.75% Category 5 Less than 1.00 to 1.00 1.50% 0.50% For purposes of the foregoing, (i) the Leverage Ratio shall be determined as of the end of each fiscal quarter of the Borrower's fiscal year based upon the Borrower's consolidated financial statements delivered pursuant to Section 5.01(a) or (b) and (ii) each change in the Applicable Margin resulting from a change in the Leverage Ratio shall be effective during the period commencing on and including the date of delivery to the Administrative Agent of such consolidated financial statements accompanied by the compliance certificate required by Section 5.01(c) indicating such change and ending on the date immediately preceding the effective date of the next such change; provided that the Leverage Ratio shall be deemed to be in Category 1 (A) from, and including, May 4, 2005, until a change in the Applicable Margin pursuant to this paragraph, (B) at any time that an Event of Default has occurred and is continuing or (C) at the option of the Administrative Agent or at the request of the Required Lenders if the Borrower fails to deliver the consolidated financial statements required to be delivered by it pursuant to Section 5.01(a) or (b), during the period from the expiration of the time for delivery thereof until such consolidated financial statements are delivered.' View More

Applicable Margin. Applicable Margin" means, for any day with respect to any ABR Loan or Eurodollar Loan that is a Revolving Loan, a Tranche A Term Loan or a Tranche B Term Loan, the applicable rate per annum set forth below under the caption "Tranche A and Revolving ABR Spread", "Tranche A and Revolving Eurodollar Spread", "Tranche B ABR Spread" or "Tranche B Eurodollar Spread", as the case may be, based upon the rating by S&P and Moody's, respectively, applicable on such date to the Index Debt plus, solely in... the case of Category 3, the Additional Margin in effect on such day: Index Debt Ratings Tranche AandRevolvingABR Spread Tranche A andRevolvingEurodollarSpread Tranche B ABRSpread Tranche BEurodollarSpread Category 1 B+ or B1 or higher 1.75 % 2.75 % 2.00 % 3.00 % Category 2 B or B2 2.25 % 3.25 % 2.50 % 3.50 % Category 3 lower than B or B2 2.50 % 3.50 % 2.75 % 3.75 % provided that, for any day from July 13, 2007 through (and including) April 6, 2008, the Applicable Margin then in effect shall be the greater of (a) the Applicable Margin as determined in accordance with the foregoing definition and (b) the applicable rate set forth below: Tranche A and Revolving ABR Spread Tranche A and Revolving Eurodollar Spread Tranche B ABR Spread Tranche B Eurodollar Spread 2.50% 3.50% 2.75% 3.75% For purposes of the foregoing, (i) if either Moody's or S&P shall not have in effect a rating for the Index Debt (other than by reason of the circumstances referred to in the last sentence of this paragraph), then such rating agency shall be deemed to have established a rating in Category 3; (ii) if the ratings established or deemed to have been established by Moody's and S&P for the Index Debt shall fall within different Categories, the Applicable Margin shall be based on the lower of the two ratings; and (iii) if the ratings established or deemed to have been established by Moody's and S&P for the Index Debt shall be changed, such change shall be effective as of the date on which it is first announced by the applicable rating agency. Each change in the Applicable Margin 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 2 the rating system of Moody's or S&P shall change, or if either such rating agency shall cease to be in the business of rating corporate debt obligations, the Borrower and the Lenders shall negotiate in good faith to amend this definition to reflect such changed rating system or the unavailability of ratings from such rating agency and, pending the effectiveness of any such amendment, the Applicable Margin shall be determined by reference to the rating most recently in effect prior to such change or cessation. View More

Applicable Margin. Means (a) 2.50% with respect to LMIR Loans and (b) 0.00% with respect to Base Rate Loans.

Applicable Margin. Shall mean: (i) As of the Amendment No. 7 Effective Date, until changed hereunder in accordance with the following provisions, the Applicable Margin shall be (A) 450.00 basis points for Base Rate Loans, and (B) 450.00 basis points for Eurodollar Loans; (ii) Commencing with the fiscal quarter of the Borrower ended on December 31, 2008, and continuing with each fiscal quarter thereafter, the Administrative Agent shall determine the Applicable Margin in accordance with the following matrix,... based on the Leverage Ratio: Leverage Ratio Applicable Margin for Base Rate Loans Applicable Margin for Eurodollar Loans Greater than or equal to 3.00 to 1.00 450.00 bps 450.00 bps Less than 3.00 to 1.00 425.00 bps 425.00 bps (iii) Changes in the Applicable Margin based upon changes in the Leverage Ratio shall become effective on the third Business Day following the receipt by the Administrative Agent pursuant to Section 8.1(a) or (b) of the financial statements of the Borrower, accompanied by the certificate and calculations referred to in Section 8.1(c), demonstrating the computation of the Leverage Ratio, based upon the Leverage Ratio in effect at the end of the applicable period covered (in whole or in part) by such financial statements. Notwithstanding the foregoing provisions, during any period when (A) the Borrower has failed to timely deliver its consolidated financial statements referred to in Section 8.1(a) or (b), accompanied by the certificate and calculations referred to in Section 8.1(c), (B) a Default under Section 10.1(a) has occurred and is continuing, or (C) an Event of Default has occurred and is continuing, the Applicable Margin shall be the highest rate per annum indicated therefor in the above matrix, regardless of the Leverage Ratio at such time. Any changes in the Applicable Margin shall be determined by the Administrative Agent in accordance with the provisions set forth in this definition and the Administrative Agent will promptly provide notice of such determinations to the Borrower and the Lenders. Any such determination by the Administrative Agent shall be conclusive and binding absent manifest error. View More

Applicable Margin. Shall mean: (i) As of the Amendment No. 3 Effective Date, until changed hereunder in accordance with the following provisions, the Applicable Margin shall be (A) 450.00 basis points for Base Rate Loans, and (B) 450.00 basis points for Eurodollar Loans; (ii) Commencing on March 1, 2009 and each 90th day thereafter, the Applicable Margin shall be increased by 50 basis points over the Applicable Margin then in effect.

Applicable Margin. Means (i) with respect to Eurodollar Rate Loans, 4.50% per annum, and (ii) with respect to Base Rate Loans, 3.50% per annum.