Applicable Margin

Applicable Margin. INTEREST RATES FEES --------------------------- ------------------------------ PRIME RATE EURODOLLAR COMMITMENT LETTER OF CREDIT LEVERAGE RATIO LOANS RATE LOANS FEE RATE FEE RATE -------------- -------------- ----------- -------- ---------------- ... < 1.00 X 0.00% 0.875% 0.25% 0.875% > or = to 1.00 X < 1.50 X 0.00% 1.25% 0.30% 1.25% > or = to 1.50 X < 2.00 X 0.25% 1.625% 0.35% 1.625% > or = to 2.00 X < 2.50 X 0.50% 1.875% 0.40% 1.875% > or = to 2.50 X 0.75% 2.25% 0.45% 2.25% Also, the reference "> or = to 3.00" appearing in the final sentence of the definition of "Applicable Margin" is hereby amended to read "> or = to 2.50". View More

Applicable Margin. Applicable Margin means, in accordance with the table and text below: Applicable Margin: If the ratio of Funded LIBOR Loans and Base Debt to EBITDA is: Letter of Credit Fees: Rate Loans ----------------- --------------------- ---------- higher than 2.50:1 (it being 2.75% 0.75% acknowledged that the maximum ... permitted ratio of Funded Debt to EBITDA may never exceed the amount permitted under Section 6.25) 2.50:1 or lower, but higher than 2.25:1 2.25% 0.25% 2.25:1 or lower 2.00% 0.00% The calculation of the Applicable Margin pursuant to the above tables shall be made quarterly, based upon the Interim Financial Statements or Financial Statements, as applicable, of MTI and its Subsidiaries as at the last day of each such fiscal quarter and for the fiscal period then ended. In the event that the Applicable Margin changes, such change shall become effective for Eurodollar Loans then existing or thereafter made, as of the first day of the fiscal quarter immediately following the date on which such financial statements are delivered to the 23 Agent. In the event that such financial statements are not delivered to the Agent on or before the date required under this Agreement, the Applicable Margin shall be calculated as if the Funded Debt to EBITDA is greater than 2.50:1, effective upon the last day of the fiscal quarter to which such financial statements relate, and until such financial statements are delivered showing that the Borrowers are entitled to a lower rate hereunder. View More

Applicable Margin. (a) for Eurocurrency Rate Advances, as of any date, a percentage per annum determined by reference to the Public Debt Rating and Leverage Ratio in effect on such date as set forth below: - ------------------------------------------------------------------------------------------------------------------------- Public Debt Rating Applicable Margin for Applicable Margin for Applicable Margin for ... S&P/Moody's Eurocurrency Rate Advances Eurocurrency Rate Advances Eurocurrency Rate Advances When Leverage Ratio is Less When Leverage Ratio is When Leverage Ratio is than 3.50 to 1 Equal to or Greater than Equal to or Greater than 3.50 to 1 and less than 3.75 to 1 3.75 to 1 - ------------------------------------------------------------------------------------------------------------------------- Level 1 - ------- BBB+ or Baa1 0.650% 0.900% 1.025% - ------------------------------------------------------------------------------------------------------------------------- Level 2 - ------- BBB or Baa2 0.725% 0.975% 1.100% - ------------------------------------------------------------------------------------------------------------------------- Level 3 - ------- BBB- and Baa3 1.200% 1.450% 1.575% - ------------------------------------------------------------------------------------------------------------------------- Level 4 - ------- Lower than Level 3 1.625% 1.875% 2.000% - ------------------------------------------------------------------------------------------------------------------------- Amendment No. 1 --------------- -2- and (b) for Base Rate Advances, as of any date, a percentage per annum determined by reference to the Public Debt Rating and Leverage Ratio in effect on such date as set forth below: - ------------------------------------------------------------------------------------------------------------------------- Public Debt Rating Applicable Margin for Applicable Margin for Applicable Margin for S&P/Moody's Base Rate Advances When Base Rate Advances When Base Rate Advances When Leverage Ratio is Leverage Ratio is Leverage Ratio is Equal to Less than 3.50 to 1 Equal to or Greater than or Greater than 3.75 to 1 3.50 to 1 and less than 3.75 to 1 - ------------------------------------------------------------------------------------------------------------------------- Level 1 - ------- BBB+ or Baa1 0.000% 0.000% 0.000% - ------------------------------------------------------------------------------------------------------------------------- Level 2 - ------- BBB or Baa2 0.000% 0.000% 0.000% - ------------------------------------------------------------------------------------------------------------------------- Level 3 - ------- BBB- and Baa3 0.000% 0.000% 0.075% - ------------------------------------------------------------------------------------------------------------------------- Level 4 - ------- Lower than Level 3 0.000% 0.375% 0.500% - ------------------------------------------------------------------------------------------------------------------------- The Applicable Margin for each Advance shall be determined by reference to the Public Debt Rating and the Leverage Ratio in effect from time to time, and shall be adjusted on the basis of the Leverage Ratio upward or downward on the third Business Day following delivery of the certificate referred to in Section 5.01(k)(iv); provided, that the Leverage Ratio shall be deemed to be greater than 3.75 to 1 for so long as the Company has not delivered such certificate as required under Section 5.01(k)(iv). View More

Applicable Margin. Means, at any time with respect to each Type of Loan, the percentage rate per annum as set forth below for the Level in effect at such time: ============= ========== =========== ========== LEVEL I LEVEL II LEVEL III ============= ========== =========== ========== Eurodollar 1.25% 1.50% 1.75% Loans ------------- ---------- ----------- ---------- ... Base Rate 0.25% 0.50% 0.75% Loans ============= ========== =========== ========== View More

Applicable Margin. Means: (a) for any Base Rate Loan, 0.000% per annum; and (b) for any Eurodollar Rate Loan and while any particular Rating Level applies, the rate per annum set forth below opposite the reference to such Rating Level: Rating Level Applicable Margin Rating Level 1 0.330% Rating Level 2 0.400% Rating Level 3 0.475% Rating Level 4 0.550% Rating Level 5 0.700% provided that if at any time the Debt Ratings of Moody's and S&P would lead to different Rating... Levels, the "Applicable Margin" will be determined based on the Rating Level one above the lower Rating Level (Rating Level 1 being the highest and Rating Level 5 being the lowest). Each change in the Applicable Margin resulting from a Rating Level Change shall be effective on the date on which such Rating Level Change is first announced by Moody's or S&P, as the case may be. View More

Applicable Margin. Means 9.54% per annum.

Applicable Margin. (a) 3.00% in the case of ABR Loans and (b) 4.00% in the case of Eurodollar Loans.

Applicable Margin. With respect to any fiscal quarter of the Borrower, the applicable percentage set forth below opposite the Total Leverage Ratio determined for the most recently ended fiscal quarter for which the Borrower has delivered financial statements pursuant to ss.6.4(a) or (b): Alternate LIBOR Base Rate Total ... Applicable Applicable Leverage Ratio Margin Margin Greater than or equal to 6.5:1.0 2.750% 1.50% Less than 6.5:1.00 but Greater 2.500% 1.250% than 6.0:1.0 Less than 6.0:1.0 but Greater 2.250% 1.000% than or equal to 5.5:1.0 Less than 5.5:1.0 but greater 2.000% 0.750% than or equal to 5.0:1.0 Less than 5.0:1.0 but greater 1.750% 0.500% than or equal to 4.5:1.0 Less than 4.5:1.0 1.500% 0.250% provided, that if the Borrower's financial statements are not furnished to the Banks pursuant to ss.6.4(a) or (b) hereof within five (5) Business Days after the relevant period of time specified in ss.6.4, the Applicable Margin with respect to all Loans shall be 2.750% (or 1.500%, for Base Rate Loans) during the period commencing on the date such statements are due and (provided that such financial statements are subsequently furnished to the Banks) ending on the date two (2) days following the delivery to the Agent of the financial statements to be furnished pursuant to ss.6.4(a) or (b) for the appropriate period. View More

Applicable Margin. (a) with respect to First Amendment Incremental Term Loans, a rate per annum equal to (i) for ABR Loans, 1.00%, and (ii) for Eurodollar Loans, 2.00% and (b) with respect to Second Amendment Incremental Term Loans, a rate per annum equal to (i) for ABR Loans, 1.00%, and (ii) for Eurodollar Loans, 2.00%.

Applicable Margin. Means, for any date of determination, a percentage equal to the Applicable Margin set forth in the following table, corresponding to the Financial Strength Rating of MGIC from Moody's and S&P on such date: Applicable Applicable Margin for ... Margin for Financial Base Rate Offshore Rate Facility Utilization Level Strength Rating Loans Loans Fee Fee I AA+/Aal or greater 0.550 % 1.550 % 0.150 % 0.050 % II AA/Aa2 0.775 % 1.775 % 0.175 % 0.050 % III AA-/Aa3 0.900 % 1.900 % 0.250 % 0.100 % IV A+/A1 1.025 % 2.025 % 0.350 % 0.125 % V A/A2 1.125 % 2.125 % 0.500 % 0.125 % VI Less than A/A2 1.225 % 2.225 % 0.625 % 0.150 % provided, that if the Financial Strength Rating assigned to MGIC by S&P differs from the Financial Strength Rating assigned to MGIC by Moody's by no more than one level, the level corresponding to the higher Financial Strength Rating shall apply, and provided further that if the Financial Strength Rating assigned to MGIC by S&P differs from the Financial Strength Rating assigned to MGIC by Moody's by more than one level, the level corresponding to the level one below the higher Financial Strength Rating shall apply. The Applicable Margin shall change simultaneously with any change in the Financial Strength Rating. View More