Applicable Margin

Applicable Margin. (i) replacing the table set forth therein in its entirety to read as follows: Pricing TierConsolidated Net Leverage RatioEurodollar Rate Loans and Letter of Credit FeeBase Rate LoansCommitment FeeIGreater than 3.50:1.002.25%1.25%0.45%IILess than or equal to 3.50:1.00 but greater than 3.00:1.001.75%0.75%0.35%IIILess than or equal to 3.00:1.00 but greater than 2.00:1.001.50%0.50%0.30%IVLess than or equal to 2.00:1.00 but greater than 1.00:1.001.25%0.25%0.25%VLess than or equal to... 1.00:1.001.00%0.00%0.20%and (ii) the paragraph after the table is amended by replacing "Tier II" with "Tier III" in the second to last sentence therein. View More

Applicable Margin. The definition of "Applicable Margin" is hereby amended and restated in its entirety to read as follows:"Applicable Margin" means, for any day, the applicable rate per annum set forth below as determined based upon the Borrowing Base Utilization Percentage then in effect:Borrowing Base Utilization Percentage<25%>25% and <50%>50% and <75%>75% and <90% >90%Eurodollar Loans2.75%3.00%3.25%3.50%3.75%ABR Loans1.75%2.00%2.25%2.50%2.75%Commitment Fee Rate0.50%0.50%0.50%0.50%0.50% Each change in the Applicable Margin shall...riod commencing on the effective date of such change in the Borrowing Base Utilization Percentage and ending on the date immediately preceding the effective date of the next such change; provided that, if at any time when the Applicable Margin is determined based on Borrowing Base Utilization Percentage the Borrower fails to deliver a Reserve Report pursuant to Section 8.11(a), then beginning on the date that is 30 calendar days from the date of such failure and until such Reserve Report is delivered, the "Applicable Margin" shall mean the rate per annum set forth on the grid when the Borrowing Base Utilization Percentage is at its highest level. It is understood that this definition of "Applicable Margin" shall be effective as of the Fifth Amendment Effective Date and shall apply as of the Fifth Amendment Effective Date, and that the prior definition of "Applicable Margin" applies at all times prior to the Fifth Amendment Effective Date. View More

Applicable Margin. With respect to each day for each Type of Loan, the rate per annum based on the Ratings in effect on such day, as set forth under the relevant column heading below: Ratings Applicable Margin for Eurodollar Loans Applicable Margin for ABR Loans Rating I 0.85% 0.00% Rating II 1.10% 0.10% Rating III 1.50% 0.50%

Applicable Margin. By adding the following sentence to the end of the definition of Applicable Margin: "Effective the Fifth Amendment Effective Date and thereafter until the Borrower has delivered an officer's certificate pursuant to Section 9.1(c) demonstrating a Current Ratio of not less than 1.00 to 1.00, the rates per annum in the above Borrowing Base Utilization Grid for LIBOR Loans and ABR Loans shall each be deemed increased by 0.25% over the rates set forth in such Borrowing Base Utilization Grid."

Applicable Margin. (a) with respect to any Non-Extending Lender: (i) 1.25% per annum in the case of ABR Loans and (ii) 2.25% per annum in the case of Eurocurrency Loans, and (b) with respect to any Extending Lender: (i) if the Gross Borrowing Base (as of the most recently delivered Borrowing Base Certificate) is equal to or greater than 1.85 times the Covered Debt Amount (as of the most recently delivered Borrowing Base Certificate), (A) with respect to any ABR Loan, 1.00% per annum, and (B) with respect to any... Eurocurrency Loan, 2.00% per annum and (ii) if the Gross Borrowing Base (as of the most recently delivered Borrowing Base Certificate) is less than 1.85 times the Covered Debt Amount (as of the most recently delivered Borrowing Base Certificate), (A) with respect to any ABR Loan, 1.25% per annum, and (B) with respect to any Eurocurrency Loan, 2.25% per annum. Any change in the Applicable Margin due to a change in the ratio of the Gross Borrowing Base to the Covered Debt Amount as set forth in any Borrowing Base Certificate shall be effective from and including the day immediately succeeding the date of delivery of such Borrowing Base Certificate; provided that (x) if any Borrowing Base Certificate has not been delivered in accordance with Section 5.01(d), then from and including the day immediately succeeding the date on which such Borrowing Base Certificate was required to be delivered, the Applicable Margin shall be the Applicable Margin set forth in clause (b)(ii) above, to and including the date on which the required Borrowing Base Certificate is delivered and (y) at any time that an Event of Default has occurred and is continuing to but excluding the date on which such Event of Default shall cease to be continuing, the Applicable Margin shall be the Applicable Margin set forth in clause (b)(ii) above. View More

Applicable Margin. 2.00% per annum, subject to adjustment in accordance with the following: when Borrower has provided Agent evidence satisfactory to Agent that the pipeline of Mountain Valley Pipeline, LLC is operational the Applicable Margin will be 1.75% per annum until Borrower has provided Agent evidence satisfactory to Agent that the distributions from Mountain Valley Pipeline, LLC to Borrower have commenced, at which time the Applicable Margin will be 1.55% per annum, with the fact of the adjustment of the... Applicable Margin and its effective date established by written notice from Agent to Borrower. View More

Applicable Margin. Means: (1) in respect of Daily Adjusting LIBOR Rate, three and one-quarter percent (3.25%) per annum; and (2) in respect of the Daily Adjusting LIBOR Rate with Floor and, to the extent applicable, the Prime Referenced Rate, three percent (3.00%) per annum.