Urban Outfitters 2016 Annual Report Download - page 100

Download and view the complete annual report

Please find page 100 of the 2016 Urban Outfitters annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 293

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215
  • 216
  • 217
  • 218
  • 219
  • 220
  • 221
  • 222
  • 223
  • 224
  • 225
  • 226
  • 227
  • 228
  • 229
  • 230
  • 231
  • 232
  • 233
  • 234
  • 235
  • 236
  • 237
  • 238
  • 239
  • 240
  • 241
  • 242
  • 243
  • 244
  • 245
  • 246
  • 247
  • 248
  • 249
  • 250
  • 251
  • 252
  • 253
  • 254
  • 255
  • 256
  • 257
  • 258
  • 259
  • 260
  • 261
  • 262
  • 263
  • 264
  • 265
  • 266
  • 267
  • 268
  • 269
  • 270
  • 271
  • 272
  • 273
  • 274
  • 275
  • 276
  • 277
  • 278
  • 279
  • 280
  • 281
  • 282
  • 283
  • 284
  • 285
  • 286
  • 287
  • 288
  • 289
  • 290
  • 291
  • 292
  • 293

first fiscal quarter ending after the Effective Date, the “Applicable Rate” shall be the applicable rate per annum set forth below in Tier I, Level II:
Tier I
Adjusted Leverage
Ratio < 4.5 to 1.0
Level
Average Quarterly
Availability
LIBOR / CDOR /
EURIBOR
Margin ABR Margin Commitment Fee
I > 66% of the Aggregate Commitments 1.125% 0.125% 0.20%
II
< 66% of the Aggregate Commitments but > 33% of the
Aggregate Commitments 1.25% 0.25% 0.20%
III < 33% of the Aggregate Commitments 1.375% 0.375% 0.20%
Tier II
Adjusted Leverage
Ratio > 4.5 to 1.0
Level
Average Quarterly
Availability
LIBOR / CDOR /
EURIBOR
Margin ABR Margin Commitment Fee
I > 66% of the Aggregate Commitments 1.375% 0.375% 0.25%
II
< 66% of the Aggregate Commitments but > 33% of the
Aggregate Commitments 1.50% 0.50% 0.25%
III < 33% of the Aggregate Commitments 1.625% 0.625% 0.25%
; provided further that for any day during the Elective Pricing Period the “Applicable Rate” with respect to any Elective Pricing Loan shall be 1.00% per
annum, and following the Elective Pricing Period, as otherwise set forth in this definition.
For purposes of the foregoing, (a) the Applicable Rate shall be determined as of the end of each fiscal quarter of the Company (each a “Determination
Date”) based upon the Borrowing Base Certificate delivered with respect to such Determination Date and the Company’s annual or quarterly consolidated
financial statements delivered pursuant to Section 5.01 with respect to the fiscal quarter ending on such Determination Date and (b) each change in the
Applicable Rate resulting from a change in the Average Quarterly Availability or the Adjusted Leverage Ratio shall be effective during the period
commencing on and including the date that is the first day of the immediately succeeding calendar month after the delivery to the Administrative Agent of
the consolidated financial statements for the most recent Determination Date and ending on the date immediately preceding the effective date of the next
such change; provided that (x) if the Borrowers shall fail to deliver any Borrowing Base Certificate with
3