Extract to table

"Applicable Margin" means, with respect to any Loan bearing interest at a rate based on Term SOFR, a rate per annum determined by reference to the Consolidated Net Leverage Ratio in effect from time to time, as set forth in the pricing grid below: The Applicable Margin shall be determined based on the Compliance Certificate delivered pursuant to Section 5

02 and shall be adjusted on the date of delivery of each such Compliance Certificate

"Permitted Acquisition" means any acquisition by the Borrower or any Subsidiary of all or substantially all of the assets of, or all of the equity interests in, any Person (or any division or business unit thereof) engaged in the shipping, maritime logistics, or related industries, provided that (a) such acquisition is a consensual acquisition, (b) both immediately before and immediately after giving effect to such acquisition (on a pro forma basis), no Default or Event of Default shall have occurred and be continuing, (c) the Borrower shall be in pro forma compliance with all financial covenants set forth in Article VII, (d) the aggregate consideration paid by the Borrower and its Subsidiaries for such acquisition (including assumed indebtedness, earnout obligations, and deferred purchase price) shall not exceed in any individual transaction, and the aggregate consideration paid for all Permitted Acquisitions during any fiscal year shall not exceed , (e) the Borrower shall have delivered to the Administrative Agent a compliance certificate demonstrating pro forma compliance with the financial covenants, and (f) such acquisition shall have been approved by the board of directors (or equivalent governing body) of the target

"Total Commitments" means, at any time, the aggregate amount of the Commitments of all Lenders at such time, which, as of the Closing Date, shall be $150,000,000

02 — Interpretation (a) The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined

Whenever the context may require, any pronoun shall include the corresponding masculine, feminine, and neuter forms