Sustainability Coordinator, KPIs and ESG. The Borrower, in consultation with a Lender selected by Borrower in its sole discretion (such Lender, in such capacity, the “Sustainability Coordinator”), shall establish specified Key Performance Indicators (“KPIs”) with respect to certain Environmental, Social and Governance (“ESG”) targets of the Borrower and its Subsidiaries. Upon effectiveness of the ESG Amendment (defined below), the KPIs will be used, together with the Pricing Grid, to determine pricing for the Loans and Letter of Credit Obligations. Based on the Borrower’s performance measured against the KPIs, certain adjustments to the otherwise agreed Commitment Fee, Applicable Margin, and Letter of Credit Fee will be made in an amount not to exceed (a) in the case of the Commitment Fee, a one (1) basis point adjustment in the otherwise applicable Commitment Fee, and (b) in the case of the Applicable Margin and the Letter of Credit Fee, a five (5) basis point adjustment in the otherwise in effect Applicable Margin or Letter of Credit Fee. The pricing adjustments pursuant to the KPIs will require, among other things, reporting and validation of the measurement of the KPIs in a manner that is aligned with the Sustainability Linked Loan Principles and is to be agreed between the Borrower and the Sustainability Coordinator (each acting reasonably).
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Samples: Credit Agreement (New Jersey Resources Corp), Credit Agreement (New Jersey Resources Corp), Credit Agreement (New Jersey Resources Corp)
Sustainability Coordinator, KPIs and ESG. The BorrowerBorrowers, in consultation with a Lender selected by Borrower in its sole discretion PNC Capital Markets LLC (such Lender, in such capacity, the “"Sustainability Coordinator”"), shall may establish specified Key Performance Indicators (“"KPIs”") with respect to certain Environmental, Social and Governance (“"ESG”") targets of the Borrower Borrowers and its their Subsidiaries. Upon effectiveness of the ESG Amendment (defined below), the KPIs will be used, together with the Pricing Gridpricing grid on Schedule 1.1(A) hereto, to determine pricing for the Loans and Letter of Credit Obligations. Based on the Borrower’s Borrowers’ performance measured against the KPIs, certain adjustments to the otherwise agreed Commitment Fee, Applicable Margin, and Letter of Credit Fee will be made in an amount not to exceed (a) in the case of the Commitment Fee, a one (1) basis point adjustment in the otherwise applicable Commitment Fee, and (b) in the case of the Applicable Margin and the Letter of Credit Fee, a five (5) basis point adjustment in the otherwise in effect Applicable Margin or Letter of Credit Fee. The pricing adjustments pursuant to the KPIs will require, among other things, reporting and validation of the measurement of the KPIs in a manner that is aligned with the Sustainability Linked Loan Principles and is to be agreed between the Borrower Borrowers and the Sustainability Coordinator (each acting reasonably).
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