Nautilus 2005 Annual Report Download - page 81

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“Applicable Margin” shall mean:
(a) for the period from the Closing Date through November 30, 2005, sixty-five (65.0) basis points for Eurodollar Loans and zero
(0.0) basis points for Base Rate Loans; and
(b) commencing with the Consolidated financial statements of Borrower for the fiscal quarter ending September 30, 2005, the
number of basis points (depending upon whether Loans are Eurodollar Loans or Base Rate Loans) set forth in the following matrix, based
upon the result of the computation of the Leverage Ratio, shall be used to establish the number of basis points that will go into effect on
December 1, 2005 and thereafter:
After December 1, 2005, changes to the Applicable Margin shall be effective on the first day of each month following the date upon which
Agent should have received, pursuant to Section 5.3(a) and (b) hereof, the Consolidated financial statements of Borrower. The above matrix
does not modify or waive, in any respect, the requirements of Section 5.7 hereof, the rights of Agent and the Lenders to charge the Default
Rate, or the rights and remedies of Agent and the Lenders pursuant to Articles VII and VIII hereof. Notwithstanding anything herein to the
contrary, during any period when Borrower shall have failed to timely deliver the Consolidated financial statements pursuant to Section 5.3(a)
or (b) hereof, or the Compliance Certificate pursuant to Section 5.3(c) hereof, until such time as the appropriate Consolidated financial
statements and Compliance Certificate are delivered, the Applicable Margin shall be the highest rate per annum indicated in the above pricing
grid regardless of the Leverage Ratio at such time.
“Assignment Agreement” shall mean an Assignment and Acceptance Agreement in the form of the attached Exhibit E .
“Authorized Officer” shall mean a Financial Officer or other individual authorized by a Financial Officer in writing (with a copy to
Agent) to handle certain administrative matters in connection with this Agreement.
3
Leverage Ratio
Applicable Basis
Points for
Eurodollar Loans
Applicable Basis
Points for
Base Rate Loans
Greater than or equal to 2.50 to 1.00
115.0
0.0
Greater than or equal to 2.00 to 1.00 but less than 2.50 to 1.00
100.0
0.0
Greater than or equal to 1.50 to 1.00 but less than 2.00 to 1.00
82.5
0.0
Greater than or equal to 1.00 to 1.00 but less than 1.50 to 1.00
75.0
0.0
Less than 1.00 to 1.00
65.0
0.0