Floating Rate Margin

Floating Rate Margin. Shall mean one of the following margins determined based on the ratio of Borrowers' Total Funded Indebtedness to EBITDA from time to time: -4- Ratio of Total Funded Indebtedness Floating Rate to EBITDA Margin ----------------------------------------------- ------ greater than or equal to 3.5 to 1.0 100 basis points ... less than 3.5 to 1.0, but greater than or equal to 3.0 to 1.0 75 basis points less than 3.0 to 1.0, but greater than or equal to 2.50 to 1.0 50 basis points less than 2.5 to 1.0, but greater than or equal to 2.0 to 1.0 25 basis points less than 2.0 to 1.0, but greater than or equal to 1.5 to 1.0 0 basis points less than 1.5 to 1.0 -25 basis points The Floating Rate Margin shall be determined on a quarterly basis upon the receipt, review and approval by Agent of Borrowers' financial statements for such quarter, which financial statements shall include, inter alia, a calculation of Borrowers' Total Funded Indebtedness to EBITDA as of the end of such quarter. Any change in the Floating Rate Margin shall be effective on the date of receipt of the foregoing financial statements. If Borrowers fail to deliver to Agent the foregoing financial statements, the Floating Rate Margin shall be highest margin set forth above. View More

Floating Rate Margin. Means a margin of not less than 65 basis points and not greater than 90 basis points to be determined in accordance with the Performance Based Pricing Grid. Calculations under the Performance Based Pricing Grid shall be made based on the four (4) fiscal quarters that precede the date of each LIBOR change.