Applicable Committed Loan Margin definition

Applicable Committed Loan Margin means the Applicable LIBOR Committed Loan Margin or the Applicable Reference Rate Committed Loan Margin determined from the following pricing grid based on the current published or private ratings of Guarantor’s senior unsecured long term debt, as provided below: Borrower shall provide to Administrative Agent written evidence of the current rating or ratings on Guarantor’s senior unsecured long term debt by any of Xxxxx’x, S&P and/or Fitch, if such rating agency has provided to Guarantor a rating on such senior unsecured long term debt, which evidence shall be reasonably acceptable to Administrative Agent; provided, that, at a minimum, Guarantor must provide such a rating from either Xxxxx’x or S&P. In the event that Guarantor has a rating on its senior unsecured long term debt provided by (a) both Xxxxx’x and S&P, (b) both Xxxxx’x and Fitch, (c) both S&P and Fitch, or (d) each of Xxxxx’x, S&P and Fitch, and there is a difference in rating between such rating agencies, the Applicable Committed Loan Margin shall be based on the higher rating. Changes in the Applicable Committed Loan Margin shall become effective on the first day following the date on which any of Xxxxx’x, S&P or Fitch that has provided Guarantor a rating on Guarantor’s senior unsecured long term debt changes such rating. Borrower shall notify Administrative Agent of any such changes in Guarantor’s senior unsecured long term debt pursuant to and in accordance with Section 6.4(i). Notwithstanding the foregoing, from and after the date that Borrower provides to Administrative Agent the Sustainability Grid Notice or the Enhanced Sustainability Grid Notice (as applicable), the Applicable Committed Loan Margin shall be based on the following grid (the “Sustainability Metric Grid”) for the period commencing from the fifth (5th) Business Day following the date such Sustainability Grid Notice or Enhanced Sustainability Grid Notice (as applicable) is delivered to Administrative Agent until the date that is three hundred seventy (370) days from the date such Sustainability Grid Notice or Enhanced Sustainability Grid Notice (as applicable) is delivered to Administrative Agent, unless a Sustainability Grid Notice for the subsequent fiscal year is delivered to Administrative Agent on or prior to such date, in which case the Sustainability Metric Grid shall remain in effect. Administrative Agent and Sustainability Coordinator may rely conclusively on any Sustainability Grid Notice and Enhanced Sustainabil...

Applicable Committed Loan Margin contained in the "Definitions" section of the Loan Agreement is hereby deleted in its entirety and replaced with the following:

Applicable Committed Loan Margin means the Applicable SOFR Committed Loan Margin or the Applicable Reference Rate Committed Loan Margin determined from the following pricing grid based on the current published or private ratings of Guarantor’s senior unsecured long term debt, as provided below:

Examples of Applicable Committed Loan Margin in a sentence

• It is further understood and agreed that the Applicable Committed Loan Margin will never be reduced by more than 0.025%, pursuant to the Sustainability Rate Adjustment during any Reference Year; provided, however, for the avoidance of doubt, any changes to the Applicable Committed Loan Margin pursuant to any Sustainability Rate Adjustment in excess of the amounts set forth above shall be subject to the consent of “each Lender directly affected thereby” in accordance with Section 10.01.

• Upon the effectiveness of any such ESG Amendment, based on Xxxxxxxx’s performance against the KPIs, certain adjustments (increase, decrease or no adjustment) (such adjustments, the “ESG Applicable Rate Adjustments”) to the otherwise Applicable Committed Loan Margin may be made; provided that the amount of such adjustments to the Applicable Committed Loan Margin will never be reduced or increased by more than 0.025%.

• Each change in the Applicable Committed Loan Margin resulting from a Sustainability Certificate shall be effective during the period commencing on and including the applicable Sustainability Pricing Adjustment Date and ending on the date immediately preceding the next such Sustainability Pricing Adjustment Date.