Restated Definitions

Restated Definitions. The definitions of the following terms contained in Section 1.2 of the Credit Agreement are hereby amended and restated in their respective entireties to read in full as follows: "Applicable Margin" means, on any date, with respect to each Eurodollar Tranche or Adjusted Base Rate Tranche, an amount determined by reference to the ratio of Outstanding Revolving Credit to the Borrowing Base, on such date, in accordance with the table below: Pricing LevelRatio of Outstanding Revolving Credit to... Borrowing BaseApplicable Margin for Eurodollar TranchesApplicable Margin for Adjusted Base Rate TranchesI≥90%3.50%2.50%II≥75% but<90%3.25%2.25%III≥50% but <75%3.00%2.00%IV≥25% but <50%2.75%1.75%V<25%2.50%1.50% 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; provided that, if at any time Borrower fails to deliver a Reserve Report pursuant to Section 4.1, then the "Applicable Margin" means the rate per annum set forth on the grid when the Ratio of Outstanding Revolving Credit to the Borrowing Base is at its highest level until such Reserve Report is delivered. View More