OfficeMax 2013 Annual Report Download - page 171

For purposes of the foregoing, the Applicable Commitment Fee Rate shall be determined as of the end of each fiscal quarter of the Company;
provided that the Commitment Utilization Percentage shall be deemed to be in Category 2 (A) at any time that an Event of Default has occurred and is
continuing (other than an Event of Default arising from the failure to deliver any Borrowing Base Certificate) or (B) at the option of the Administrative Agent or
at the request of the Required Lenders if the Borrowers fail to deliver any Borrowing Base Certificate that is required to be delivered by them pursuant to
Section 5.01, during the period from the expiration of the time for delivery thereof until each such Borrowing Base Certificate is so delivered.
“Applicable Percentage” means, with respect to any Facility A Lender or Facility B Lender, (a) with respect to Revolving Loans, LC Exposure or
Swingline Exposure, a percentage equal to a fraction the numerator of which is such Lender’s Facility A Commitment or Facility B Commitment, as
applicable, and the denominator of which is the aggregate amount of the Facility A Commitments or Facility B Commitments, as applicable (or, if the Facility
A Commitments or Facility B Commitments, as applicable, have terminated or expired, such Lender’s share of the total Facility A Revolving Exposure or
Facility B Revolving Exposure, respectively, at that time) and (b) with respect to Protective Advances or with respect to the Aggregate Credit Exposure, a
percentage based upon its share of the Aggregate Credit Exposure and the aggregate amount of unused Facility A Commitments or Facility B Commitments, as
applicable; provided that in each of clause (a) and (b), in the case of Section 2.21 when a Defaulting Lender shall exist, such Defaulting Lender’s
Commitment shall be disregarded in calculating any Lender’s “Applicable Percentage”.
“Applicable Spread” means, for any day, with respect to any ABR Loan, Eurocurrency Loan or Overnight LIBO Loan, as the case may be, the
applicable rate per annum set forth below under the caption “ABR Spread”, “Eurocurrency Spread” or Overnight LIBO Spread”, as the case may be, based
upon the daily average Aggregate Availability during the most recent fiscal quarter of the Company; provided that until the completion of two full fiscal
quarters after the Restatement Date, the Applicable Spread shall be the applicable rate per annum set forth below in Category 2; provided further that for any
fiscal quarter in which (i) the Fixed Charge Coverage Ratio as of the most recently ended fiscal quarter of the Company is at least 1.25:1.00 or (ii) the
Company is rated at least Ba3 by Moody’s (and at least B by S&P) or BB- by S&P (and at least B2 by Moody’s) (in each case with a stable outlook), the
Applicable Spread shall be the applicable rate per annum as determined pursuant to the grid below, minus 0.25%:
Average Aggregate
Availability
ABR
Spread
Eurocurrency
Spread
Overnight
LIBO
Spread
Category 1  $750,000,000 1.00% 2.00% 2.00%
Category 2 < $750,000,000 but  $500,000,000 1.25% 2.25% 2.25%
Category 3 < $500,000,000 but  $250,000,000 1.50% 2.50% 2.50%
Category 4 < $250,000,000 1.75% 2.75% 2.75%
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