Applicable Margin

Applicable Margin. At any time, as to the Interest Rate for Prime Rate Loans and the Interest Rate for Eurodollar Rate Loans, (a) at any time from the Amendment No. 5 Effective Date until October 1, 2005 (the "Adjustment Date") (i) the rate per annum equal to 0.5% with respect to all Loans consisting of Prime Rate Loans and (ii) the rate per annum equal to 2.25% ... with respect to all Loans consisting of Eurodollar Rate Loans, and (b) from and after the Adjustment Date, the applicable percentage (on a per annum basis) set forth below if the Quarterly Average Excess Availability for the immediately preceding fiscal quarter is at or within the amounts indicated for such percentage: 2 Applicable Prime Applicable Eurodollar Rate Margin Rate Margin ----------- ----------- Equipment Equipment Revolving Purchase Revolving Term Purchase Excess Availability Loans Term Loans Term Loans Loans Loans Term Loans ------------------- ----- ---------- ---------- ----- ----- ---------- (a) $12,500,000 or more 0% 0% 0% 1.75% 1.75% 1.75% (b) Equal to or greater than 0.25% 0.25% 0.25% 2.00% 2.00% 2.00% $10,000,000 but less than $12,500,000 (c) Less than $10,000,000 0.50% 0.50% 0.50% 2.25% 2.25% 2.25% PROVIDED, THAT, the Applicable Margin shall be calculated and established once each fiscal quarter (commencing with the fiscal quarter beginning October 1, 2005). View More

Applicable Margin. 1.8 '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 fiscal quarter is at or within the amounts indicated for such... percentage: Applicable Prime Applicable Eurodollar Rate Margin Rate Margin ----------- ----------- Revolving Revolving Term Excess Availability Loans Term Loans Loans Loans ------------------- ----- ---------- ---------- ----- (a) $12,500,000 or more 0% .25% 1.75% 2.00% (b) Equal to or greater .25% .50% 2.00% 2.25% than $10,000,000 but less than $12,500,000 (c) Less than $10,000,000 .50% .75% 2.25% 2.50% PROVIDED, THAT, the Applicable Margin shall be calculated and established once each fiscal quarter (commencing with the fiscal quarter beginning January 1, 2005). View More

Applicable Margin. Shall mean: (a) with respect to Base Rate Loans, 0.0000% per annum, except that during any Level V Period the rate shall be 0.2500%; and (b) with respect to Eurodollar Loans, the rate for such Loan for each rating level period set forth in the schedule below: Rating Eurodollar Loans Level I Period 0.3150% Level II Period 0.4200% ... Level III Period 0.5250% Level IV Period 0.6250% Level V Period 1.0500% Any change in the Applicable Margin for any Loan by reason of a change in the Standard & Poor's Rating or the Moody's Rating shall become effective on the date two Business Days after the announcement or publication by the respective rating agencies of a change in such rating or, in the absence of such announcement or publication, two Business Days after the effective date of such changed rating. View More

Applicable Margin. Alternate Base Rate Eurodollar Loans Loans Term Loans: 2.25% 3.25% Revolving Credit Loans: 2.25% 3.25% Swing Line Loans: 2.25% Not applicable;

Applicable Margin. For any Type of Loans, the percentage determined in accordance with the following table: - ---------------------------- -------------------------- -------------------------- -------------------------- Ratio of Consolidated Prime Rate Loans LIBOR Rate Loans Cost of Funds Rate Loans Total Liabilities to Consolidated Tangible Net Worth - ---------------------------- -------------------------- -------------------------- -------------------------- ... Greater than 1.00:1.00 0% 1.50% 1.50% - ---------------------------- -------------------------- -------------------------- -------------------------- Less than or equal to 0% 1.00% 1.00% 1.00:1.00 but greater than 0.50:1.00 - ---------------------------- -------------------------- -------------------------- -------------------------- Less than or equal to 0% 0.75% 0.75% 0.50:1.00 - ---------------------------- -------------------------- -------------------------- -------------------------- From the Closing Date through the date on which the Compliance Certificate for the fiscal quarter of the Borrower ending June 30, 2004, is required to be delivered pursuant to Section 6(d) hereof, the Applicable Margin shall be equal to 0% for Prime Rate Loans, and 0.75% for LIBOR Rate Loans and Cost of Funds Rate Loans. Thereafter, for purposes of determining the Applicable Margin, the Ratio of Consolidated Total Liabilities to Consolidated Tangible Net Worth will be tested quarterly, commencing with the fiscal quarter of the Borrower ending June 30, 2004, based on the Compliance Certificate required to be delivered pursuant to Section 6(d) with respect to such fiscal quarter. For purposes of determining the Applicable Margin, any interest rate change shall be effective on the first (1st) Business Day of the fiscal month following delivery of the Compliance Certificate required to be delivered pursuant to Section 6(d) is delivered to the Bank, together with a notice to the Bank (which shall be verified by the Bank) specifying any change in the Applicable Margin, and if the Borrower has failed to deliver the Compliance Certificate required to be delivered pursuant to Section 6(d), the Applicable Margin that would otherwise be in effect shall automatically be increased to the highest margin until such Compliance Certificate is delivered. View More

Applicable Margin. Applicable Margin" means, on any day, and with respect to any Advance, the applicable per annum percentage set forth at the appropriate intersection in the table shown below, based on the average Excess Availability for the immediately preceding month: ----------------------------------------------------------------------- AVERAGE EXCESS MARGIN OVER MARGIN OVER AVAILABILITY U.S. PRIME LIBOR ... ----------------------------------------------------------------------- $20MM + 2.75% N/A ----------------------------------------------------------------------- $10MM <= $20MM 3.00% N/A ------------------------------------------------------------------------ $5MM <= $10MM 3.25% N/A ----------------------------------------------------------------------- $0MM <= $5MM 3.50% N/A ----------------------------------------------------------------------- It is understood and agreed that for the period from and after the date of the first Advance until the date of the initial calculation of average Excess Availability, the Applicable Margin shall be calculated as if the Average Excess Availability were $10MM <= $20MM. View More

Applicable Margin. MEANS: (i) FOR THE PERIOD COMMENCING ON MAY 29, 2001 TO AND INCLUDING THE FIRST PERFORMANCE PRICING DETERMINATION DATE, 0.675%; AND (ii) FROM AND AFTER THE FIRST PERFORMANCE PRICING DETERMINATION DATE, FOR EACH LIBOR RATE LOAN, THE PERCENTAGE DETERMINED ON EACH PERFORMANCE PRICING DETERMINATION DATE BY REFERENCE TO THE TABLE SET FORTH BELOW AS TO THE LEVERAGE RATIO FOR THE... QUARTERLY OR ANNUAL PERIOD ENDING IMMEDIATELY PRIOR TO SUCH PERFORMANCE PRICING DETERMINATION DATE. LEVERAGE RATIO APPLICABLE MARGIN -------------- ----------------- > 2.25 TO 1.0 0.75% > 1.50 TO 1.0 BUT 0.675% < 2.25 TO 1.0 - < 1.50 TO 1.0 0.60% - IN DETERMINING INTEREST FOR PURPOSES OF THIS SECTION 2.07, THE BORROWER AND THE BANK SHALL REFER TO THE BORROWER'S MOST RECENT CONSOLIDATED QUARTERLY AND ANNUAL (AS THE CASE MAY BE) FINANCIAL STATEMENTS DELIVERED PURSUANT TO SECTION 6.01(A) OR (B), AS THE CASE MAY BE. IF SUCH FINANCIAL STATEMENTS REQUIRE A CHANGE IN INTEREST PURSUANT TO THIS SECTION 2.07, THE BORROWER SHALL DELIVER TO THE BANK, ALONG WITH SUCH FINANCIAL STATEMENTS, A NOTICE TO THAT EFFECT, WHICH NOTICE SHALL SET FORTH IN 2 3 REASONABLE DETAIL THE CALCULATIONS SUPPORTING THE REQUIRED CHANGE. THE "PERFORMANCE PRICING DETERMINATION DATE" IS THE DATE WHICH IS 45 DAYS AFTER THE END OF EACH FISCAL QUARTER. ANY SUCH REQUIRED CHANGE IN INTEREST SHALL BECOME EFFECTIVE ON SUCH PERFORMANCE PRICING DETERMINATION DATE, AND SHALL BE IN EFFECT UNTIL THE NEXT PERFORMANCE PRICING DETERMINATION DATE, PROVIDED THAT: (I) CHANGES IN INTEREST SHALL ONLY BE EFFECTIVE FOR INTEREST PERIODS COMMENCING ON OR AFTER THE PERFORMANCE PRICING DETERMINATION DATE; AND (II) INTEREST SHALL NOT BE DECREASED PURSUANT TO THIS SECTION 2.07 IF A DEFAULT IS IN EXISTENCE ON THE PERFORMANCE PRICING DETERMINATION DATE. View More

Applicable Margin. Means, for any day, (i) 4.50% with respect to any Base Rate Portions and (ii) 5.50% with respect to any Eurodollar Rate Portions, PROVIDED that at all times after December 31, 2005, the Applicable Margin shall be (iii) 6.50% with respect to any Base Rate Portions and (ii) 7.50% with respect to any Eurodollar Rate Portions.

Applicable Margin. I. 2.75% if the ratio of Senior Funded Debt to EBITDA is greater than 2.5 to 1.0; ii. 2.25% if the ratio of Senior Funded Debt to EBITDA is greater than 2.0 to 1.0 and less than or equal to 2.5 to 1.0; iii. 1.75% if the ratio of Senior Funded Debt to EBITDA is greater than 1.5 to 1.0 and less than or equal to 2.0 to 1.0; and iv. 1.25% if the ratio of Senior Funded Debt to EBITDA is less ... than or equal to 1.5 to 1.0; as that ratio is calculated in accordance with the Loan and Security Agreement. The Applicable Margin on the date of this Note is 2.75% and shall continue to be the Applicable Margin until a new Applicable Margin is determined and is to go into effect as hereinafter set forth. A new Applicable Margin shall be determined 120 days after the end of each fiscal year of Holdings, commencing with the fiscal year ending October 31, 2001, based upon the audited fiscal year end financial statements for that fiscal year provided to Lender within 90 days after the end of that fiscal year as required in the Loan and Security Agreement. Such Applicable Margin will automatically go into effect for the Interest Period commencing after the date of determination and shall continue in effect until a new Applicable Margin is determined and is to go into effect; provided, however, that if the audited fiscal year end financial statements required in the Loan and Security Agreement are not provided to Lender within 120 days after the end of any fiscal year, the Lender shall not be required to adjust the Applicable Margin and the Applicable Margin to go into effect for the Interest Period commencing after that 120th day shall be 2.75% until a new Applicable Margin is determined and is to go into effect unless otherwise agreed to by Lender. 2 View More

Applicable Margin. Means for purposes of calculating (i) the applicable interest rate for the Interest Period for any Eurodollar Rate Loan, (ii) the applicable interest rate for any Base Rate Loan, (iii) the applicable rate to determine the fee for the issuance of Letters of Credit and (iv) the applicable rate of the Unused Fee for any date for purposes of Section 2.10 hereof, that percent per annum set forth ... below, which shall be (A) determined at the end of each Fiscal Quarter (each, a "Determination Date") based upon the computations set forth in the compliance certificates delivered to the Agent pursuant to Sections 8.1(a)(ii) and 8.1(b)(ii) hereof, subject to review and approval of such computations by the Agent, and any change in the Applicable Margin shall be effective commencing on the fifth Business Day following the date such certificate is actually received (or, if earlier, the date such certificate was required to be delivered under such sections) (the "Compliance Date") until the next following Compliance Date; provided however, if the Borrower shall fail to deliver any such certificate within the time period required by Section 8.1, then the Applicable Margin for Eurodollar Rate Loans, for Base Rate Loans, for the Letter of Credit Fee and for the Unused Fee shall be that shown for Pricing Level V below until the appropriate certificate is so delivered and (B) applicable to all Eurodollar Rate Loans and Base Rate Loans made, renewed or converted, Letters of Credit outstanding and any Unused Fee due and payable, on or after the most recent Compliance Date to occur based upon the Consolidated Leverage Ratio as at the Determination Date, as specified below: Pricing Consolidated Applicable Applicable Applicable Applicable Level Leverage Ratio Margin for Margin for Margin for Margin for Eurodollar Base Rate Letter of Unused Fee Rate Loans Loans Credit fee I. Less than 1.25 1.000% .000% 1.000% .250% to 1.00 II. Less than 2.25 1.500% .250% 1.500% .375% to 1.00 but greater than or equal to 1.25 to 1.00 III. Less than 2.75 2.250% 1.000% 2.250% .500% to 1.00 but greater than or equal to 2.25 to 1.00 IV. Less than 3.25 2.500% 1.250% 2.500% .500% to 1.00 but greater than or equal to 2.75 to 1.00 E-7 V. Greater than 2.750% 1.500% 2.750% .500% or equal to 3.25 to 1.00 ; provided that at all times from August 25, 2000 up to and including the Compliance Date immediately following August 25, 2000, the Applicable Margin for Eurodollar Rate Loans, for Base Rate Loans, for the Letter of Credit Fee and for the Unused Fee shall be that shown for Pricing Level V above. View More