Common use of Alternative Currency Equivalent Clause in Contracts

Alternative Currency Equivalent. At any time, with respect to any amount denominated in Dollars, the equivalent amount thereof in the applicable Alternative Currency as determined by the Administrative Agent or the Issuing Bank, as the case may be, at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of such Alternative Currency with Dollars. Alternative Currency Sublimit. An amount equal to $200,000,000. The Alternative Currency Sublimit is part of, and not in addition to, the Total Commitments. Applicable Margin. For each period commencing on an Adjustment Date through the date immediately preceding the next Adjustment Date (each a “Rate Adjustment Period”), the Applicable Margin shall be the applicable margin set forth below with respect to the Leverage Ratio, as determined for the four (4) consecutive fiscal quarters then ending of BGI and its Subsidiaries ending on the last day of the fiscal quarter ended immediately prior to the applicable Rate Adjustment Period. I Less than 2.00:1 1.10% 1.1% 0.10% 0.15% II Less than 2.25:1 but greater than or equal to 2.00:1 1.18% 1.18% 0.17% 0.20% III Less than 2.50:1 but greater than or equal to 2.25:1 1.28% 1.28% 0.28% 0.23% IV Less than 2.75:1 but greater than or equal to 2.50:1 1.38% 1.375% 0.38% 0.25% V Less than 3.00:1 but greater than or equal to 2.75:1 1.48% 1.48% 0.48% 0.28% VI Less than 3.25:1 but greater than or equal to 3.00:1 1.58% 1.58% 0.58% 0.30% VII Greater than or equal to 3.25:1 1.70% 1.70% 0.70% 0.30% If the Borrowers fail to deliver any Compliance Certificate pursuant to §8.4(c) hereof, then for the period commencing on the next Adjustment Date to occur subsequent to such failure through the date immediately following the date on which such Compliance Certificate is delivered, the Applicable Margin shall be the highest Applicable Margin set forth above. Notwithstanding the foregoing, the Applicable Margin on the Closing Date shall be at Level II and, thereafter, the Applicable Margin shall be no lower than Level II until the first Adjustment Date to occur following the fiscal quarter ending on or about December 31, 2011.

Appears in 2 contracts

Sources: Senior Unsecured Revolving Credit Agreement (Barnes Group Inc), Senior Unsecured Revolving Credit Agreement (Barnes Group Inc)

Alternative Currency Equivalent. At any time, with respect to any amount denominated in Dollars, the equivalent amount thereof in the applicable Alternative Currency as determined by the Administrative Agent or the Issuing Bank, as the case may be, at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of such Alternative Currency with Dollars. Alternative Currency Sublimit. An amount equal to $200,000,000. The Alternative Currency Sublimit is part of, and not in addition to, the Total Commitments. Amendment Fee. See §11.7. Applicable Margin. For each period commencing on an Adjustment Date through the date immediately preceding the next Adjustment Date (each a “Rate Adjustment Period”), the Applicable Margin shall be the applicable margin set forth below with respect to the Leverage Ratio, as determined for the four (4) consecutive fiscal quarters then ending of BGI and its Subsidiaries ending on the last day of the fiscal quarter ended immediately prior to the applicable Rate Adjustment Period. I Less than 2.00:1 1.100.30% 1.10.30% 0.10% 0.15% II Less than 2.25:1 but greater than or equal to 2.00:1 1.180.375% 1.180.375% 0.17% 0.200.125% III Less than 2.50:1 but greater than or equal to 2.25:1 1.280.475% 1.280.475% 0.28% 0.230.15% IV Less than 2.75:1 but greater than or equal to 2.50:1 1.380.55% 1.3750.55% 0.38% 0.250.20% V Less than 3.00:1 but greater than or equal to 2.75:1 1.480.75% 1.480.75% 0.48% 0.280.25% VI Less than 3.25:1 but greater than or equal to 3.00:1 1.580.95% 1.58% 0.580.95% 0.30% VII Greater than or equal to 3.25:1 1.701.15% 1.701.15% 0.70% 0.300.35% If the Borrowers fail to deliver any Compliance Certificate pursuant to §8.4(c) hereof, then for the period commencing on the next Adjustment Date to occur subsequent to such failure through the date immediately following the date on which such Compliance Certificate is delivered, the Applicable Margin shall be the highest Applicable Margin set forth above. Notwithstanding the foregoing, the Applicable Margin on the Closing Date shall be at Level II and, thereafter, the Applicable Margin shall be no lower than Level II until the first Adjustment Date to occur following the fiscal quarter ending on or about December 31, 2011.

Appears in 1 contract

Sources: Senior Unsecured Revolving Credit Agreement (Barnes Group Inc)