Facility Fee Rate Sample Clauses
The Facility Fee Rate clause defines the percentage or fixed amount charged to a borrower for access to a credit facility, typically calculated on the total committed amount. This fee is usually paid periodically, such as quarterly or annually, regardless of whether the borrower draws on the facility. By specifying the cost of maintaining access to funds, the clause ensures that lenders are compensated for making credit available, even if it is not utilized, and provides borrowers with clear expectations regarding ongoing costs.
Facility Fee Rate. (i) The Facility Fee Rate to be used in calculating the facility fee provided for in Section 4.3(a) (the "Facility Fee Rate") shall be determined by reference to the Debt Ratio as of the end of the fiscal quarter to which the Officer's Compliance Certificate most recently delivered relates, in accordance with the following table: Debt Ratio Facility Fee Rate Less than 0.45:1 0.25% Greater than or equal to 0.45:1 but less than 0.5:1 0.375% Greater than or equal to 0.5:1 0.5%
(ii) Adjustments, if any, in the Facility Fee Rate shall be made by the Agent on the fifth Business Day after receipt by the Agent of quarterly financial statements pursuant to Section 7.1(a) and the accompanying Officer's Compliance Certificate setting forth the Debt Ratio as of the end of the applicable fiscal quarter. In the event the Borrower fails to deliver any such financial statements and Officer's Compliance Certificate by the date required in Section 7.1(a), then, from such date and until the fifth Business Day after delivery to the Agent of such financial statements and Officer's Compliance Certificate, the Facility Fee Rate shall be the Facility Fee Rate which would have applied had the Debt Ratio been greater than or equal to 0.5:1. M#368727 26
(iii) The Facility Fee Rate as of the Closing Date and until the next adjustment is made pursuant to paragraph (ii) above shall be the Facility Fee Rate which would have applied had the Debt Ratio been greater than or equal to 0.5:1.
Facility Fee Rate. For each day prior to the Termination Date, the Facility Fee Rate shall be that rate set forth in the table below beneath the unsecured debt rating of S&P’s and Moody’s applicable on such date to the Borrower’s outstanding unsecured debentures or other unsecured debt; provided that (a) if one of S&P’s or Moody’s does not rate such debentures or other debt, the Facility Fee Rate for such date shall be determined in accordance with the table below by reference to the unsecured debt rating of the other referenced rating company and if Fitch, Inc. rates such debentures or other debt, the comparable unsecured debt rating of Fitch, Inc. applicable to such debentures or other debt and (b) in the event of a differential of rating levels between S&P’s and Moody’s or, if applicable, between one of such rating companies and Fitch, Inc., the higher rating shall apply, provided, however that if there is a differential of two or more rating levels, then the rating one level above the lower rating shall apply: Facility Fee Rate 0.090% 0.100% 0.110% 0.125% 0.150% 0.200% FERC. The Federal Energy Regulatory Commission or any successor agency thereto. FERC Approval. The order of FERC dated May 31, 2002 authorizing the Borrower to incur, on or before December 31, 2004, short-term indebtedness with a final maturity date not later than December 31, 2005.
Facility Fee Rate. For any date of determination, a percentage to be determined for such date based on the higher of the Parent's senior unsecured debt ratings as published by either (i) ▇▇▇▇▇'▇ Investors Services, Inc. or (ii) Standard & Poor's Rating Group on such date, in accordance with the schedule set forth below: Rating S&P/Moody's Facility Fee Rate
Facility Fee Rate. Section 1.1 of the Credit Agreement is hereby amended by amending and restating the definition of "Facility Fee Rate" in its entirety as follows: "Facility Fee Rate": for any day, the rate per annum set forth below opposite the Status in effect on such day: FACILITY FEE STATUS RATE ------------------------------------------ ------------ Level I Status............................ 0.0800% Level II Status........................... 0.0900% Level III Status.......................... 0.1000% Level IV Status........................... 0.2000% Level V Status............................ 0.
Facility Fee Rate. (a) The per annum facility fee rate that the Borrower shall use to calculate the facility fee that is payable pursuant to Section 2.11(a) is set forth below and is based upon the Borrower's Adjusted Leverage Ratio as at the end of the Borrower's most recent fiscal quarter, as calculated in accordance with Section 8.2: Facility Fee Rate Adjusted Leverage Ratio (Basis Points) ----------------------- --------------
Facility Fee Rate. The Facility Fee Rate to be used in calculating the facility fee provided for in Section 4.3(a) (the "Facility Fee Rate") shall be one-half of one percent (1/2%).