Floor. Notwithstanding anything to the contrary in this Agreement or any other Credit Document, if, at any time, any Benchmark Replacement, as determined in accordance with this Section 3.1 and the related definitions in Section 1.1, shall be less than the Floor, then such Benchmark Replacement shall be deemed to equal the Floor for all purposes of this Agreement and the other Credit Documents; provided, that, notwithstanding anything to the contrary in this Agreement or in any other Credit Document, at any time that the applicable interest rate for Base Rate Loans is determined without reference to clause (c) of the definition of “Base Rate” in Section 1.1 by operation of this Section 3.1, then the “Floor”, for purposes of calculating such applicable interest rate, shall be increased by one percent (1.00%) per annum.
Appears in 3 contracts
Sources: Credit Agreement (Heritage Insurance Holdings, Inc.), Credit Agreement (FutureFuel Corp.), Credit Agreement (FutureFuel Corp.)