Facility Fee Percentage definition

Facility Fee Percentage means the applicable percentage per annum determined, at any time, based on the range into which Borrower's Credit Rating (if any) then falls, in accordance with the following tables. Any change in the Facility Fee Percentage shall be effective immediately as of the date on which any of the rating agencies announces a change in the Borrower's Credit Rating or the date on which the Borrower has no Credit Rating, whichever is applicable. The Facility Fee Percentage shall be as follows: Range of Borrower's Credit Rating Percentage of S&P/Moody's Ratings Maximum Amount ------------------- -------------- LESS THAN BBB-/Baa3 or unrated 0.25% BBB-/Baa3 0.20% BBB/Baa2 0.20% BBB+/Baa1 0.15% A-/A3 0.15% If at any time the Borrower has a Credit Rating by both Moody's and S&P which Credit Ratings are split, then: (A) if the difference between such Credit Ratings is one ratings category (e.g. Baa2 by Moody's and BBB- by S&P), the Facility Fee Percentage shall be the rate per annum that would be applicable if the higher of the Credit Ratings were used; and (B) if the difference between such Credit Ratings is two ratings category (e.g. Baa1 by Moody's and BBB- by S&P), the Facility Fee Percentage shall be the rate per annum that would be applicable if the median of the applicable Credit Ratings is used.

Facility Fee Percentage means, as of any date, the percentage set forth in the applicable column headed “Facility Fee Percentage” in the pricing schedules contained on Exhibit A that is in effect on such date, subject to the conditions set forth in Exhibit A with respect to the effective date of changes in such percentage.

Facility Fee Percentage means on any date, the applicable percentage set forth below based upon the ratings applicable on such date to the Company's Index Debt: -------------------------------------------------------------------- ---------- Facility Fee Percentage -------------------------------------------------------------------- ---------- Category 1 ---------- A or higher by S & P; A2 or higher by Moody's .060% -------------------------------------------------------------------- ---------- Category 2 ---------- A- by S & P; A3 by Moody's .070% -------------------------------------------------------------------- ---------- Category 3 ---------- BBB+ by S & P; Baa1 by Moody's .090% -------------------------------------------------------------------- ---------- Category 4 ---------- BBB by S & P; Baa2 by Moody's .125% -------------------------------------------------------------------- ---------- Category 5 ---------- BBB- by S & P; Baa3 by Moody's .150% -------------------------------------------------------------------- ---------- Category 6 ---------- BB+ or lower by S & P; Ba1 or lower by Moody's .200% -------------------------------------------------------------------- ---------- For purposes of the foregoing, (a) if either Moody's or S&P shall not have in effect a rating for Index Debt (other than because such rating agency shall no longer be in the business of rating corporate debt obligations), then such rating agency will be deemed to have established a rating for Index Debt in Category 6; (b) if the ratings established or deemed to have been established by Moody's and S&P shall fall within different Categories, the Facility Fee Percentage shall be determined by reference to the higher (or numerically lower) Category unless one of the ratings is two or more categories lower (or numerically higher) than the other, in which case the Facility Fee Percentage shall be determined by reference to the Category next above that of the lower of the two ratings; and (c) if any rating established or deemed to have been established by Moody's or S&P shall be changed (other than as a result of a change in the rating system of either Moody's or S&P), such change shall be effective as of the date on which such change is first announced by the rating agency making such change. Each change in the Facility Fee Percentage shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change. If t...

Examples of Facility Fee Percentage in a sentence

• As consideration for making the Revolving Credit available, the Borrower shall pay to the Bank a non-refundable quarterly facility fee in an amount equal to the Applicable Facility Fee Percentage times the Committed Amount.

• The Facility Fee (and the Applicable Facility Fee Percentage) shall be calculated on the basis of a 360 day year for the actual number of days elapsed without regard to the amount of Loans outstanding during any period for which the Facility Fee is computed.

• The Borrower agrees to pay to the Administrative Agent, for the account of the Lenders in accordance with each Lender's Commitment Percentage, during the period from and including the Closing Date through but excluding the Maturity Date, a fee (the "Facility Fee") equal to the Applicable Facility Fee Percentage per annum of the average daily sum of the Aggregate Commitments, regardless of usage, during such period.

• Such adjustments shall be given prospective effect only, effective as to all Advances outstanding hereunder, the Applicable Facility Fee Percentage and the Applicable Letter of Credit Percentage, upon the date of delivery of the financial statements under Sections 6.1(a) and 6.1(b) hereunder and the Certificate of Compliance under Section 6.1(e) hereof, in each case establishing applicability of the appropriate adjustment and in each case with no retroactivity or claw-back.

• The Company shall pay to the Administrative Agent, for the account of the Lenders in accordance with their Pro Rata Shares, from and after the date of this Agreement until the date on which the Aggregate Revolving Loan Commitment shall be terminated in whole, a facility fee accruing at the rate of the then Applicable Facility Fee Percentage on the amount of the Aggregate Revolving Loan Commitment (whether used or unused).

More Definitions of Facility Fee Percentage

Facility Fee Percentage means on any date the applicable percentage set forth below based upon the ratings by S&P and Xxxxx'x, respectively, applicable on such date to the Index Debt:

Facility Fee Percentage a percentage equal to at any time (i) during a Category A Period, .07%, (ii) during a Category B Period, .08%, (iii) during a Category C Period, .10% and (iv) during a Category D Period, .125%.

Facility Fee Percentage means for any date the percentage per annum applicable on such date as set forth in the row labeled "Facility Fee Percentage" on Schedule II hereto, which is based on the ratings (or lack thereof) by Xxxxx'x or S&P or both of the public long-term senior unsecured debt securities of the Borrower.

Facility Fee Percentage means the rate per annum set forth in the column identified by the Applicable Rating Level at the time of determination: Applicable Rating Level Xxxxx 0 Xxxxx 0 Xxxxx 0 Xxxxx 0 Xxxxx 5 Xxxxx 0 Xxxxx 0 Xxxxxxxx Xxx Xxxxxxxxxx 0.04% 0.05% 0.06% 0.07% 0.09% 0.10% 0.15% Any change in the Facility Fee Percentage shall be effective on the date on which Xxxxx’x, S&P or Fitch, as the case may be, announces any change in any rating that results in a change in the Applicable Rating Level.

Facility Fee Percentage shall have the meaning assigned thereto in Section 3.3(a).

Facility Fee Percentage means, as of any date, the percentage set forth in the column headed “Facility Fee Percentage” in Section 2.3 that is in effect on such date.

Facility Fee Percentage means on any date, the applicable percentage set forth below based upon the ratings applicable on such date to the Company's Index Debt: