Extract to table

Until the first full fiscal quarter following the Closing Date has been completed and the applicable Borrowing Base Certificate and financial statements for such quarter have been delivered to the Administrative Agent, the Applicable Margin shall be set at Level II

If the Borrower fails to deliver any required Borrowing Base Certificate or financial statements within the time periods specified herein, the Applicable Margin shall be set at Level III, effective as of the first day of the calendar month following the date on which such delivery was required, and shall remain at Level III until the date that is five (5) Business Days after such Borrowing Base Certificate and financial statements have been delivered

In no event shall the Base Rate Margin be less than zero percent (0%)

"Availability Period" means the period commencing on the Closing Date and ending on the Maturity Date (or such earlier date on which the Commitments shall have been terminated in accordance with this Agreement)

The initial Availability Reserves shall be set at Five Million Dollars ($5,000,000) as of the Closing Date

Any change in the Base Rate due to a change in the Prime Rate, the Federal Funds Rate, or Adjusted Term SOFR shall be effective from and including the effective date of such change