Applicable LOC Fee Percentage definition

Applicable LOC Fee Percentage means, as of any date, the applicable percentage shown in the applicable column in the table below based on the then applicable Fixed Charge Coverage Ratio. As of the Effective Date (as defined in the Third Amendment), the Applicable LOC Fee Percentage is 1.0% (i.e., Pricing Grid Level 3).
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Applicable LOC Fee Percentage means, as of any date, the applicable percentage shown in the applicable column in the table below based on the then applicable Fixed Charge Coverage Ratio. As of the Effective Date, the Applicable LOC Fee Percentage is 3.0% (i.e., Pricing Grid Level 1). Level 1 £ 1.50 to 1.0 3.0% Xxxxx 0 > 1.50 to 1.0 and £ 2.0 to 1.0 2.50% Xxxxx 0 > 2.0 to 1.0 2.0% “A.V.C.” means Xxxxxxxx, Inc., formerly known as A.V.C. Specialists, Inc., a California corporation, and its successors and assigns.
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Applicable LOC Fee Percentage means the rate per annum at which the commission due on each Letter of Credit will be calculated, which rate shall be determined by reference to the Ratio of Total Funded Debt to EBITDA in accordance with the following table: Ratio of Total Funded Debt to EBITDA Applicable LOC Fee Percentage --------------------------- ----------------------------- 3.50 or above 2.75% 3.00 to 3.49 2.375% 2.50 to 2.99 2.125% 2.00 to 2.49 1.75% Below 2.00 1.50% The Applicable LOC Fee Percentage shall be determined on the Third Amendment Effective Date on the basis of the Ratio of Total Funded Debt to EBITDA for the Credit Parties and their respective Subsidiaries in effect on the Third Amendment Effective Date (which the Company and the Lenders agree for purposes of the Applicable LOC Fee Percentage, the Applicable Spread and the Applicable Unused Commitment Fee Percentage is greater than 3.50) and shall be redetermined, based on the Ratio of Total Funded Debt to EBITDA as of the close of each fiscal quarter of the Company ending after June 30, 2003, concurrently with each adjustment to the "Ratio of Total Funded Debt to EBITDA" (as provided in the definition of Ratio of Total Funded Debt to EBITDA in this Agreement), with such redetermined Applicable LOC Fee Percentage to be effective as and for the period provided in the definition of "Ratio of Total Funded Debt to EBITDA."
Sample 1

Examples of Applicable LOC Fee Percentage in a sentence

  • On Lender's receipt of the financial statements and Compliance Certificate required to be delivered to Lender pursuant to Sections 4.3(b) and 4.3(d) of this Agreement for the Fiscal Year then ended, the LOC Fee will be subject to adjustment in accordance with the table set forth in the definition of "Applicable LOC Fee Percentage" based on the Fixed Charge Coverage Ratio for such Fiscal Year then ended so long as no Event of Default is existing as of the applicable effective date of adjustment.

  • The Company covenants and agrees to pay to Bank One, on the date each Letter of Credit is issued, and on each anniversary of the issue date for as long as the Letter of Credit is outstanding, a commission (a "L/C Commission") equal to the Applicable LOC Fee Percentage then in effect (determined as of immediately after issuance of such Letter of Credit).

  • The Company covenants and agrees to pay to the Bank, on the date each Letter of Credit is issued, and on each anniversary of the issue date for as long as the Letter of Credit is outstanding, a commission equal to the "Applicable LOC Fee Percentage" (as hereinafter defined) times the maximum amount available to be drawn under the Letter of Credit as of the date such commission is due.


More Definitions of Applicable LOC Fee Percentage

Applicable LOC Fee Percentage means the rate per annum at which the commission due on each Letter of Credit will be calculated, which rate shall be determined by reference to the Ratio of Total Funded Debt to EBITDA in accordance with the following table: Total Funded Debt to EBITDA Applicable LOC Fee Percentage --------------------------- ----------------------------- 4.00 to 4.50 1.50% 3.50 to 3.99 1.25% 3.00 to 3.49 1.00% 2.50 to 2.99 0.75% 2.00 to 2.49 0.75% Below 2.00 0.75% The Applicable LOC Fee Percentage shall be determined on the Closing Date on the basis of the Ratio of Total Funded Debt to EBITDA for the Credit Parties and their respective Subsidiaries in effect on the Closing Date (which the Company and the Banks agree for purposes of the Applicable LOC Fee Percentage shall be between 2.50 and 2.99 as of the Closing Date) and shall be redetermined and adjusted as of the close of each fiscal quarter of the Company thereafter, concurrently with any adjustment to the Ratio of Total Funded Debt to EBITDA (as provided in the definition of Ratio of Total Funded Debt to EBITDA in this Agreement), with such redetermined Applicable LOC Fee Percentage to be effective for the entire fiscal quarter of the Company which immediately follows each such fiscal quarter. Notwithstanding the foregoing, the Applicable LOC Fee Percentage shall be as follows if, and during any period, the reimbursement obligations of the Company to Bank One under the applicable Reimbursement Agreement and this Agreement for such Letter of Credit are fully secured by Cash Collateral: Total Funded Debt to EBITDA Applicable LOC Fee Percentage --------------------------- ----------------------------- 4.00 to 4.50 0.75% 3.50 to 3.99 0.75% 3.00 to 3.49 0.75% 2.50 to 2.99 0.50% 2.00 to 2.49 0.50% Below 2.00 0.50%
Sample 1
Applicable LOC Fee Percentage means, as of any date, the Applicable Tranche LIBOR Rate Margin (as defined in the Revolving Note).
Sample 1
Applicable LOC Fee Percentage means (i) ____% per annum, from ----------------------------- the Effective Date until the first interest payment date which follows receipt by the Agent of the financial statements for the last month of the first fiscal quarter of Parent that ends after the Effective Date, and (ii) thereafter the percentage per annum determined by reference to the Ratio of Total Funded Debt to EBITDA in accordance with the following table, beginning on the first interest payment date which follows receipt by the Agent of the financial statements for the last month of the first fiscal quarter of Parent that ends after the Effective Date: Ratio of Total Funded Debt to EBITDA Applicable LOC Fee Percentage -------------------------- ----------------------------- 4.00 or above 1.75% 3.50 to 3.99 1.5% 3.00 to 3.49 1.38% 2.50 to 2.99 1.25% 2.00 to 2.49 1.13% 1.50 to 1.99 1.00% less than 1.50 0.88% The Applicable LOC Fee Percentage in effect in any fiscal quarter of Parent will be determined on the basis of the Applicable LOC Fee Percentage in effect during the preceding fiscal quarter of Parent until an adjustment is made under the provisions of the definition of "Ratio of Total Funded Debt to EBITDA" herein.
Sample 1
Applicable LOC Fee Percentage means, with respect to any Letter of Credit (i) One-Half Percent (0.5%), if the reimbursement obligation of the Company to the Bank under the Reimbursement Agreement and this Agreement for such Letter of Credit is fully secured by Cash Collateral, and (ii) Three-Quarters Percent (0.75%), if the reimbursement obligation of the Company to the Bank under the Reimbursement Agreement and this Agreement for such Letter of Credit is not fully secured by Cash Collateral. The commission shall be deemed fully earned and nonrefundable when due. The Company shall pay the Bank's standard transaction fees with respect to any transactions occurring on account of any Letter of Credit. Transaction fees shall be payable upon completion of the transaction as to which they are charged. All such commissions and fees may be debited by the Bank to any deposit account of the Company carried with the Bank without further authority, and in any event, shall be paid by the Company within ten (10) days following billing.
Sample 1
Applicable LOC Fee Percentage means (i) 2.000% per annum, from ----------------------------- the Fourth Amendment Effective Date through April 30, 1999, and (ii) thereafter the percentage per annum determined by reference to the Ratio of Total Funded Debt to EBITDA in accordance with the following table: Ratio of Total Funded Debt to EBITDA Applicable LOC Fee Percentage ---------------------------------- ----------------------------- 4.50 or above 2.000% 4.00 to 4.49 1.750% 3.50 to 3.99 1.625% 3.00 to 3.49 1.500% 2.50 to 2.99 1.375% 2.00 to 2.49 1.250% less than 2.00 1.125% The Applicable LOC Fee Percentage in effect in any fiscal quarter of Parent ending on or after May 1, 1999, will be determined on the basis of the Applicable LOC Fee Percentage in effect during the preceding fiscal quarter of Parent until an adjustment is made as provided pursuant to the provisions of the definition of "Ratio of Total Funded Debt to EBITDA" herein.
Sample 1

Related to Applicable LOC Fee Percentage

  • Applicable L/C Fee Percentage means, as at any date of determination, a rate per annum equal to the Applicable Eurodollar Margin for Revolving Loans in effect on such date.

  • Applicable Commitment Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.15(C)(i) hereof determined in accordance with the provisions of Section 2.15(D)(ii) hereof.

  • Applicable Facility Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.14(C)(i) hereof determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • Facility Fee Percentage means, as of any date, the percentage set forth in the column headed “Facility Fee Percentage” in Section 2.3 that is in effect on such date.

  • Applicable Fee Percentage means, as of any date of determination thereof, the applicable percentage used to calculate certain of the fees due and payable hereunder, determined by reference to the appropriate columns in the Pricing Matrix attached to this Agreement as Schedule 1.1.

  • Commitment Fee Percentage means, with respect to the Revolving Loan Commitments at any time, the per annum percentage which is used to calculate Commitment Fees for such Revolving Loan Commitments determined pursuant to the Pricing Grid.

  • Applicable Unused Line Fee Percentage means, as of any date of determination, the applicable percentage set forth in the following table that corresponds to the Average Revolver Usage of Borrowers for the most recently completed month as determined by Agent in its Permitted Discretion; provided, that for the period from the Closing Date through and including the last day of the third full calendar month following the Closing Date, the Applicable Unused Line Fee Percentage shall be set at the rate in the row styled “Level II”; provided further, that any time an Event of Default has occurred and is continuing, the Applicable Unused Line Fee Percentage shall be set at the margin in the row styled “Level II”: I > 50% of the Maximum Revolver Amount 0.375 percentage points II ≤ 50% of the Maximum Revolver Amount 0.50 percentage points The Applicable Unused Line Fee Percentage shall be re-determined on the first date of each month by Agent.

  • Applicable Revolving Commitment Fee Percentage means (a) from the Closing Date until the date of delivery of the Compliance Certificate and the financial statements for the second full Fiscal Quarter after the Closing Date, a percentage, per annum, determined by reference to the following table as if the Leverage Ratio then in effect were 3.00:1.00; and (b) thereafter, a percentage, per annum, determined by reference to the Leverage Ratio in effect from time to time as set forth below: >3.00:1.00 0.75% 1.30% <3.00:1.00 >2.50:1.00 0.75% 1.20% No change in the Applicable Revolving Commitment Fee Percentage shall be effective until three (3) Business Days after the date on which the Administrative Agent has received the applicable financial statements and a Compliance Certificate pursuant to Section 5.01(c) calculating the Leverage Ratio. At any time the Borrower Representative has not submitted to the Administrative Agent the applicable information as and when required under Section 5.01(c), the Applicable Revolving Commitment Fee Percentage shall be determined as if the Leverage Ratio were in excess of 3.00:1.00. Promptly following receipt of the applicable information under Section 5.01(c), the Administrative Agent shall give each Lender telefacsimile or telephonic notice (confirmed in writing) of the Applicable Revolving Commitment Fee Percentage in effect from such date. In the event that any financial statement or certificate delivered pursuant to Section 5.01 is shown to be inaccurate, and such inaccuracy, if corrected, would have led to the application of a higher Applicable Revolving Commitment Fee Percentage for any Applicable Period than the Applicable Revolving Commitment Fee Percentage applied for such Applicable Period, then (i) the Borrower Representative shall immediately deliver to the Administrative Agent a correct certificate required by Section 5.01 for such Applicable Period, (ii) the Applicable Revolving Commitment Fee Percentage shall be recalculated with the Leverage Ratio at the corrected level and (iii) each applicable Borrower shall immediately pay to the Administrative Agent the accrued additional fees owing as a result of such increased Applicable Revolving Commitment Fee Percentage for such Applicable Period. Nothing in this definition shall limit the right of the Administrative Agent or any Lender under Section 2.10 or Article VIII and the provisions of this definition shall survive the termination of this Agreement.

  • Applicable Commitment Fee Rate means the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Commitment Fee.”

  • Applicable Unused Commitment Fee Rate means 0.50% per annum.

  • Applicable Facility Fee Rate means, at any time, the percentage rate per annum at which Facility Fees are accruing on the Aggregate Commitment at such time as set forth in the Pricing Schedule.

  • Applicable Commitment Fee Margin means, for each Pricing Period, the margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: II 10.0 V 17.5

  • Commitment Fee Rate has the meaning set forth in the definition of “Applicable Margin”.

  • Applicable Commitment Percentage means, with respect to each Lender at any time, a fraction, the numerator of which shall be such Lender's Revolving Credit Commitment and the denominator of which shall be the Total Revolving Credit Commitment, which Applicable Commitment Percentage for each Lender as of the Closing Date is as set forth in Exhibit A; provided that the Applicable Commitment Percentage of each Lender shall be increased or decreased to reflect any assignments to or by such Lender effected in accordance with Section 11.1.

  • Applicable Percentage means, with respect to any Lender, the percentage of the total Commitments represented by such Lender’s Commitment. If the Commitments have terminated or expired, the Applicable Percentages shall be determined based upon the Commitments most recently in effect, giving effect to any assignments.

  • Applicable L/C Margin means the per annum fee, from time to time in effect, payable with respect to outstanding Letter of Credit Obligations as determined by reference to Section 1.5(a).

  • Applicable Letter of Credit Fee Rate means the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Letter of Credit Fee.”

  • Facility Fee Rate means a rate per annum determined in accordance with the Pricing Schedule.

  • Applicable Revolving Percentage means with respect to any Revolving Lender at any time, such Revolving Lender’s Applicable Percentage in respect of the Revolving Facility at such time.

  • Unused Commitment Fee Rate has the meaning given to such term in the Fee Letter.

  • Servicing Fee Percentage With respect to each Mortgage Loan, the percentage specified on the Servicer Mortgage Loan Schedule.

  • Unused Fee Rate means 0.50% per annum.

  • Applicable Unused Line Fee Margin means the per annum fee, from time to time in effect, payable in respect of Borrowers’ non-use of committed funds pursuant to Section 1.9(b), which fee is determined by reference to Section 1.5(a).

  • Applicable Utilization Fee Rate means, as of any date, the percentage rate per annum at which Utilization Fees accrue on all Revolving Credit Advances at such time as set forth in the Pricing Schedule.

  • Applicable Fee Rate means, at any time, the percentage rate per annum at which Commitment Fees are accruing on the unused portion of the Aggregate Commitment at such time as set forth in the Pricing Schedule.

  • Applicable Multicurrency Percentage means, with respect to any Multicurrency Lender, the percentage of the total Multicurrency Commitments represented by such Multicurrency Lender’s Multicurrency Commitment. If the Multicurrency Commitments have terminated or expired, the Applicable Multicurrency Percentages shall be determined based upon the Multicurrency Commitments most recently in effect, giving effect to any assignments.