Applicable Unused Commitment Fee Rate definition

Applicable Unused Commitment Fee Rate means 0.50% per annum.

Applicable Unused Commitment Fee Rate means a percentage per annum equal to 0.25%.

Applicable Unused Commitment Fee Rate means (a) during the period commencing on the Closing Date and ending on the first Business Day after the receipt by the Administrative Agent of the Financial Statements for the first full Fiscal Quarter ending after the Closing Date required to be delivered pursuant to Section 6.1(a) or (b) (Financial Statements), as applicable, 0.375% per annum and (b) thereafter, as of any date of determination, a per annum rate equal to the rate set forth below opposite the then applicable Net Senior Secured Leverage Ratio (determined on the last day of the most recent Fiscal Quarter for which Financial Statements have been delivered pursuant to Section 6.1(a) or (b) (Financial Statements)) set forth below: Greater than 0.75 to 1.0 0.375 % Less than or equal to 0.75 to 1.0 0.250 % Changes in the Applicable Unused Commitment Fee Rate resulting from a change in the Net Senior Secured Leverage Ratio on the last day of any subsequent Fiscal Quarter shall become effective upon delivery by the Company to the Administrative Agent of new Financial Statements pursuant to Section 6.1(a) or (b) (Financial Statements), as applicable. Notwithstanding anything to the contrary set forth in this Agreement (including the then effective Net Senior Secured Leverage Ratio), if the Company shall fail to deliver such Financial Statements within any of the time periods specified in Section 6.1(a) or (b) (Financial Statements), the Applicable Unused Commitment Fee Rate from and including the 46th day after the end of such Fiscal Quarter or the 91st day after the end of such Fiscal Year, as the case may be, to but not including the date the Company delivers to the Administrative Agent such Financial Statements shall equal the highest possible Applicable Unused Commitment Fee Rate provided for in this definition.

Examples of Applicable Unused Commitment Fee Rate in a sentence

• The Borrower agrees to pay to each Lender a commitment fee on the daily average amount of the Unused Commitments from the date hereof until the Revolving Credit Termination Date at the Applicable Unused Commitment Fee Rate, payable in arrears (i) on the last day of each calendar quarter, commencing on the first such day following the Effective Date and (ii) on the Revolving Credit Termination Date.

• If the Company shall fail to deliver a certificate in respect of the Interest Coverage Ratio within forty-five (45) days after the end of any fiscal quarter, the Applicable Unused Commitment Fee Rate from and including the first day of the following fiscal quarter to the date the Company delivers to the Administrative Agent such certificate shall conclusively equal the highest Applicable Unused Commitment Fee Rate set forth herein.

• The Borrower agrees to pay to each Revolving Credit Lender a commitment fee (the “Unused Commitment Fee”) on the actual daily amount by which the Revolving Credit Commitment of such Revolving Credit Lender exceeds such Lender’s Ratable Portion of (i) the average daily excess of the amount then effective Revolving Loan Commitments over the Revolving Credit Outstandings (exclusive of any outstanding Swing Loans) multiplied by (ii) the Applicable Unused Commitment Fee Rate.

• The Borrowers agree to pay to the Agent, for the account of each Revolving Lender in accordance with such Lender's Pro Rata Share, an unused commitment fee at a per annum rate equal to the Applicable Unused Commitment Fee Rate on the average daily Available Revolving Commitment, payable on each Payment Date hereafter and on the Facility Termination Date (the "Unused Commitment Fee").

• Following the effectiveness of the ESG Amendment, any modification to the ESG Pricing Provisions which does not have the effect of reducing the Applicable Unused Commitment Fee Rate, Applicable Margin for Base Rate Loans or Applicable Margin for Eurodollar Rate Loans to a level not otherwise permitted by this paragraph shall be subject only to the consent of the Requisite Lenders.

More Definitions of Applicable Unused Commitment Fee Rate

Applicable Unused Commitment Fee Rate means the percentage rate per annum based on the Total Net Leverage Ratio then in effect according to the Pricing Grid below the heading “Applicable Unused Commitment Fee Rate.”

Applicable Unused Commitment Fee Rate means, as of any date of determination, a per annum rate equal to the rate set forth below opposite the respective Level (i.e., Level 1 or Level 2, as the case may be) of Average Revolver Usage for the calendar quarter most recently ended (or, for the first payment of the Unused Commitment Fee under Section 2.12(a), for the period commencing on the Closing Date and ending on the last day of the calendar quarter in which the Closing Date occurred); provided that the Applicable Unused Commitment Fee Rate shall not change until 5 Business Days after the end of such calendar quarter (or shorter period). Level 1 Less than 50% 0.50 % Level 2 Equal to or greater than 50% 0.375 %

Applicable Unused Commitment Fee Rate means 0.375% per annum.

Applicable Unused Commitment Fee Rate means, for any day, a percentage per annum equal to (a) initially, 0.50% per annum and (b) following the end of the first fiscal quarter ending after the Closing Date, the following percentages per annum, based upon Average Revolving Loan Utilization as of the most recent Adjustment Date:

Applicable Unused Commitment Fee Rate at any date of determination, with respect to each Borrower, the rate per annum corresponding to such Borrower’s Credit Rating on such date, as set forth below: 1 at least A- by S&P or A3 by Mxxxx’x 0.125% 2 less than Level 1 but at least BBB+ by S&P or Baa1 by Mxxxx’x 0.15% 3 less than Level 2 but at least BBB by S&P or Baa2 by Mxxxx’x 0.20% 4 less than Level 3 but at least BBB- by S&P or Baa3 by Mxxxx’x 0.25% 5 less than Level 4 or unrated by both S&P and Mxxxx’x 0.30% provided, however, that if at any time there is a split Credit Rating, then the Applicable Unused Commitment Fee Rate at such time will be determined by the higher of the two Credit Ratings, except that in the event that the lower of such Credit Ratings is more than one Level below the higher of such Credit Ratings, the Applicable Unused Commitment Fee Rate will be determined based on the Level that is one Level lower than the higher of such ratings; provided, further, that if such Borrower is unrated by one of S&P or Mxxxx’x (other than by reason of the circumstances referred to in the definition of “Credit Rating”), then the Applicable Unused Commitment Fee Rate shall be based on the Credit Rating established by the other rating agency.

Applicable Unused Commitment Fee Rate means, as of any date of determination, a per annum rate equal to the rate set forth below opposite the then applicable Leverage Ratio of Group (determined on the last day of the most recent Fiscal Quarter for which Financial Statements have been delivered pursuant to Section 6.1(b) or Section 6.1(c)) set forth below: ----------------------------------------------------------------- LEVERAGE RATIO Unused Commitment Fee Rate ----------------------------------------------------------------- Greater than or equal to 1.5 to 1 0.375% ----------------------------------------------------------------- Less than 1.5 to 1 and equal to or 0.375% greater than 1.25 to 1 ----------------------------------------------------------------- Less than 1.25 to 1 and equal to or 0.325% greater than 1.00 to 1 ----------------------------------------------------------------- Less than 1.0 to 1 0.25% ----------------------------------------------------------------- Changes in the Applicable Unused Commitment Fee Rate resulting from a change in the Leverage Ratio on the last day of any subsequent Fiscal Quarter shall become effective 10 Business Days after delivery by the Borrower to the Administrative Agent of new Financial Statements pursuant to Section 6.1(b) or Section 6.1(c) as applicable. Notwithstanding anything to the contrary set forth in this Agreement (including the then effective Leverage Ratio of Group), if the Borrower shall fail to deliver such Financial Statements within any of the time periods required under Section 6.1(b) or Section 6.1(c) (as either such section has been amended, waived or otherwise modified), the Applicable Unused Commitment Fee Rate from and including the day on which such Financial Statements were due, to but not including the date the Borrower delivers to the Administrative Agent such Financial Statements, shall equal the highest possible Applicable Unused Commitment Fee Rate provided for by this definition.

Applicable Unused Commitment Fee Rate means, as of any date of determination, a per annum rate equal to the corresponding Unused Commitment Percentage set forth below: Higher than 66 2/3% 0.300 % Higher than 33 1/3% and lower than or equal to 66 2/3% 0.225% Lower than or equal to 33 1/3% 0.125 %