Letter of Credit Fee Rate. For any day, (a) from the Closing Date to the date that is six (6) months after the date of the funding of the initial Revolving Loan hereunder, the per annum rate of four percent (4.0%), and (b) thereafter, the applicable rate per annum set forth in the grid below determined by reference to the Total Recourse Leverage Ratio as set forth in the most recent Compliance Certificate received by Agent pursuant to §7.4(c): Applicable Margin Pricing Level Total Recourse Leverage Ratio Letter of Credit Fee 1 ≤1.0:1.0 3.25% 2 >1.0:1.0 but ≤1.5:1.0 3.50% 3 >1.5:1.0 but ≤2.0:1.0 3.75% 4 >2.0:1.0 4.00% Any increase or decrease in the Letter of Credit Fee Rate resulting from a change in the Total Recourse Leverage Ratio shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to §7.4(c); provided, however, that if a Compliance Certificate is not delivered when due in accordance with such Section, then Pricing Level 4 shall apply as of the first Business Day after the date on which such Compliance Certificate was required to have been delivered and in each case shall remain in effect until the date on which such Compliance Certificate is delivered.
Letter of Credit Fee Rate. For standby letters of credit, the Letter of ------------------------- Credit Fee Rate shall be a per annum fee equal to the Eurodollar Rate Margin determined in accordance with the Pricing Schedule, and for documentary letters of credit, the Letter of Credit Fee Rate shall be a per annum fee equal to the Documentary Letter of Credit Fee Rate determined in accordance with the Pricing Schedule.
Letter of Credit Fee Rate. The applicable rate per annum set forth in the chart contained in the definition of "Applicable Margin" under the heading "Letter of Credit Fees".
Letter of Credit Fee Rate. For any day, the applicable rate per annum set forth in the grid below determined by reference to the Senior Secured Recourse Leverage Ratio as set forth in the most recent Compliance Certificate received by Agent pursuant to §7.4(c) (and prior to the date on which the Compliance Certificate for the fiscal quarter ending June 30, 2017 is due pursuant to §7.4(c), the rate per annum designated as Pricing Level 1 in such grid below) Applicable Fee Rate Pricing Level Senior Secured Recourse Leverage Ratio Letter of Credit Fee 1 ≤ 1.00:1.00 2.75% 2 > 1.00:1.00 but ≤ 1.50:1.00 3.00% 3 > 1.50:1.00 but ≤ 2.00:1.00 3.25% 4 > 2.00:1.00 but < 2.50:1.00 3.50% 5 > 2.50:1.00 3.75% Any increase or decrease in the Letter of Credit Fee Rate resulting from a change in the Senior Secured Recourse Leverage Ratio shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to §7.4(c); provided, however, that if a Compliance Certificate is not delivered when due in accordance with such Section, then Pricing Level 5 shall apply as of the first Business Day after the date on which such Compliance Certificate was required to have been delivered and in each case shall remain in effect until the date on which such Compliance Certificate is delivered. If, as a result of any restatement of or other adjustment to the financial statements of the Borrower or for any other reason, the Borrower or the Lenders determine that (i) the Senior Secured Recourse Leverage Ratio as calculated by the Borrower as of any applicable date was inaccurate and (ii) a proper calculation of the Senior Secured Recourse Leverage Ratio would have resulted in higher Letter of Credit Fee Rate for such period, the Borrower shall immediately and retroactively be obligated to pay to the Agent for the account of the applicable Lenders, promptly on demand by the Agent, an amount equal to the excess of the amount of letter of credit fees that should have been paid for such period over the amount of letter of credit fees actually paid for such period.
Letter of Credit Fee Rate. The table set forth in the definition of "Letter of Credit Fee Rate" set forth in Section 1.1 of the Original Agreement is hereby amended in its entirety to read as follows: Applicable Leverage Level LC Fee Rate ------------------------------------------------ Level I, Level II, Level III or 1.750% Level IV ------------------------------------------------ Level V 1.625% ------------------------------------------------ Level VI 1.500% ------------------------------------------------ Level VII 1.250% ------------------------------------------------ Level VIII 1.000% ------------------------------------------------
Letter of Credit Fee Rate. For standby letters of credit, the Letter of Credit Fee Rate shall be, as of any day, a per annum fee equal to the LIBOR Rate Margin then in effect, as determined in accordance with (and defined in) the Pricing Schedule, and for documentary letters of credit, the Letter of Credit Fee Rate shall be, as of any day, a per annum fee equal to the Documentary Letter of Credit Fee Rate then in effect, as determined in accordance with (and defined in) the Pricing Schedule. Letter of Credit Participation Amount. See Section 2.16.4(c).
Letter of Credit Fee Rate. The definition of the term “Letter of Credit Fee Rate” contained in Section 1.1 of the Credit Agreement is hereby amended by deleting the chart contained in clause (b) of that definition and substituting in lieu thereof the below chart: Level Revised Leverage Ratio Letter of Credit Fee Rate I Less than or equal to 1.5 to 1.0 0.50% II Greater than 1.5 to 1.0, but less than or equal to 2.0 to 1.00 0.625% III Greater than 2.0 to 1.0, but less than or equal to 2.5 to 1.0 0.875% IV Greater than 2.5 to 1.0, but less than or equal to 3.0 to 1.0 1.125% V Greater than 3.0 to 1.0 1.375%
Letter of Credit Fee Rate. At all times from the Closing Date through the first Performance Adjustment Date, one and seventy-five one-hundredths percent (1.75%) per annum, and thereafter, the percentage determined by reference to the provisions of ss.6.12.
Letter of Credit Fee Rate. For any day, the applicable rate per annum set forth in the grid below determined by reference to the Senior Secured Recourse Leverage Ratio as set forth in (i) the Compliance Certificate delivered on the Closing Date pursuant to §10.13, until the earlier of (A) the date on which the Compliance Certificate for the Fiscal Quarter ending June 30, 2015 is due pursuant to §7.4(c) and (B) the delivery date of such Compliance Certificate, and (ii) thereafter, the most recent Compliance Certificate received by Agent pursuant to §7.4(c): Applicable Fee Rate
Letter of Credit Fee Rate. The following Section 1.35A is hereby added to the Loan Agreement in proper numerical order:
