Applicable LIBOR Percentage definition
Examples of Applicable LIBOR Percentage in a sentence
The Borrowers shall pay to the Letter of Credit Issuer, and the Letter of Credit Issuer shall share with the Lenders, on a pro rata basis based on their respective Ratable Portions, a risk participation fee (the "Risk Participation Fee") in an amount equal to the per annum rate equal to the Applicable LIBOR Percentage in effect pursuant to Section 3.5(b), TIMES the Stated Amount of each Letter of Credit as of the date on which payment of the Risk Participation Fee is due and payable.
On each Interest Adjustment Date and during the Accrual Period commencing on such date, the Applicable LIBOR Percentage shall be the percent per annum in Basis Points indicated in the definitions of the term "Applicable LIBOR Percentage" corresponding to the Net Leverage Ratio as of the Interest Determination Date for such Interest Adjustment Date.
The Borrowers shall pay to the Letter of Credit Issuer, and the Letter of Credit Issuer shall share with the Lenders, on a pro rata basis based on their respective Ratable Portions, a risk participation fee (the "Risk Participation Fee") in an amount equal to the per annum rate equal to the Applicable LIBOR Percentage in effect pursuant to Section 3.5(b), times the Stated Amount of each Letter of Credit from time to time outstanding.
The Borrower shall pay to the Letter of Credit Bank, and the Letter of Credit Bank shall share with the Banks, on a pro rata basis based on their respective Ratable Portions, a risk participation fee (the "Risk Participation Fee") in an amount equal to the per annum rate equal to the Applicable LIBOR Percentage in effect pursuant to Section 3.5(b), TIMES the daily average amount of all Letters of Credit outstanding during each Accrual Period.
The Borrowers shall pay to the Letter of Credit Issuer, and the Letter of Credit Issuer shall share with the Lenders, on a pro rata basis based on their respective Ratable Portions, a risk participation fee (the “Risk Participation Fee”) in an amount equal to the per annum rate equal to the Applicable LIBOR Percentage in effect pursuant to Section 3.5(b), times the Stated Amount of each Letter of Credit from time to time outstanding.
On each Interest Adjustment Date the Applicable LIBOR Percentage and the Applicable Prime Rate Percentage shall be the percent per annum in Basis Points indicated in the definitions of the terms "Applicable LIBOR Percentage" and "Applicable Prime Rate Percentage" corresponding to the Borrower's Total Leverage Ratio as of the Interest Determination Date for such Interest Adjustment Date.
The Borrowers shall pay the Risk Participation Fee to the Letter of Credit Issuer in advance on the date of issuance and, for Letters of Credit having a term longer than one (1) year, on each anniversary of such date of issuance thereafter during the term of such Letter of Credit, computed at the Applicable LIBOR Percentage in effect on the date of issuance and, as applicable, each such subsequent anniversary payment date.
Interest on each Advance hereunder shall accrue at one of the following per annum rates selected by the Borrower (i) upon notice to the Bank at the Base Rate (a “Base Rate Advance”); or (ii) upon a minimum of three Business Days’ prior notice, at a rate per annum equal to Adjusted LIBOR for the Loan Period selected by the Borrower, plus the Applicable LIBOR Percentage (a “LIBOR Advance”).
On each Interest Adjustment Date and during the Accrual Period commencing on such date, the Applicable LIBOR Percentage shall be the percent per annum in Basis Points indicated in the definitions of the term "Applicable LIBOR Percentage" corresponding to the Total Leverage Ratio as of the Interest Determination Date for such Interest Adjustment Date.