Applicable Unused Fee means the per annum rate (calculated based upon days elapsed over a 360 day year) shown in the table below based on the applicable Debt to EBITDARS Ratio, calculated for Borrower on a consolidated basis and without duplication in accordance with GAAP: The Applicable Unused Fee shall be fixed at Level II for a six month period from the date of this Agreement. Effective on the tenth (10th) day following the date on which the Borrower’s QCC Sheet is required to be delivered to the Lender pursuant to Section 15.4 for the quarterly accounting period ending on July 1, 2011, the Unused Fee will be adjusted based upon the Debt to EBITDARS ratio shown therein. Thereafter, changes, if any, in the Level applicable will be effective on the tenth (10th) day following each date on which the Borrower’s QCC Sheet is required to be delivered to the Lender pursuant to Section 15.4, based upon the Debt to EBITDARS ratio shown therein. In the event that any QCC Sheet is not delivered by the date required, the unused fee will revert to Level I until the tenth (10th) day following the date of delivery of the delayed QCC Sheet, on which tenth day the unused fee will be adjusted to the applicable level shown by the QCC Sheet. Upon the occurrence of a Default or Event of Default, the unused fee shall immediately be adjusted to Level I and no reduction shall occur thereafter unless the Default is cured, or if the Default is also an Event of Default, the Event of Default is waived in writing by the Lender.
Applicable Unused Fee means, for any day, the applicable rate per annum set forth below, based on the percentage of the Revolving Commitments in use on such date (with usage calculated in accordance with Section 3.6(a)):
Applicable Unused Fee means that percent per annum set forth below, which shall be based upon the Consolidated Total Leverage Ratio for the Four-Quarter Period most recently ended as specified below: ------------------------------------------------------------------------------------------------------- Tier Consolidated Total Leverage Ratio Applicable Unused Fee ------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------- IV Greater than 5.50 to 1.00 0.275% ------------------------------------------------------------------------------------------------------- III Less than or equal to 5.50 to 1.00 but greater than 0.250% 5.00 to 1.00 ------------------------------------------------------------------------------------------------------- II Less than or equal to 5.00 to 1.00 but greater than 0.200% 3.50 to 1.00 ------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------- I Less than or equal to 3.50 to 1.00 0.180% ------------------------------------------------------------------------------------------------------- The Applicable Unused Fee shall be established at the end of each fiscal quarter of the Borrower (the "Determination Date"). Any change in the Applicable Unused Fee following each Determination Date shall be determined based upon the computations set forth in the certificate furnished to the Agent pursuant to SECTION 8.1(a)(ii) and SECTION 8.1(b)(ii), subject to review and approval of such computations by the Agent and shall be effective commencing on the date following the date such certificate is received (or, if earlier, the date such certificate was required to be delivered) until the date following the date on which a new certificate is delivered or is required to be delivered, whichever shall first occur; PROVIDED HOWEVER, if the Borrower shall fail to deliver any such certificate within the time period required by SECTION 8.1, then the Applicable Unused Fee shall be Tier IV from the date such certificate was required to be delivered until the appropriate certificate is so delivered. From the Closing Date to the day following the date of delivery of such certificate for the period ending December 31, 1997, the Applicable Unused Fee shall be Tier II.
Examples of Applicable Unused Fee in a sentence
Borrower agrees to pay to the Lender the Applicable Unused Fee on the average amount of the Revolving Credit Commitment unused during each Fiscal Quarter.
There is need for harmonization of the functions of the various institutions and authorities in the planning and management of national parks, reserves and other protected areas in the country.
Borrower hereby agrees to pay to the Administrative Agent, for the ratable account of each Lender having a Commitment, a commitment fee on the daily average unused amount of such Lender's Commitment for the period from and including the date of this Agreement to but excluding the Termination Date, at the per annum rate equal to the Applicable Unused Fee Percentage based on a 360-day year, as the case may be, and the actual number of days elapsed.
Borrower agrees to pay to the Lenders the Applicable Unused Fee on the unused portion of the Revolving Credit Commitment.
In no event shall the Applicable Unused Fee Rate be decreased pursuant to this Section 2.07 if a Default is in existence on the Unused Fee Determination Date.
More Definitions of Applicable Unused Fee
Applicable Unused Fee means that percent per annum set forth below, which shall be based upon the Consolidated Debt Coverage Ratio for the Four-Quarter Period most recently ended as specified below:
Applicable Unused Fee means that percent per annum set forth below, which shall be based upon the Consolidated Funded Debt Ratio for the Four-Quarter Period most recently ended as specified below: Applicable Consolidated Unused Funded Debt Ratio Fee ----------------- ---------- (a) Greater than .55 to 1.00 .2500%
Applicable Unused Fee means that percent per annum set forth below, which shall be based upon the Consolidated Leverage Ratio for the Four-Quarter Period most recently ended as specified below: Applicable Tier Consolidated Leverage Ratio Unused Fee ---- --------------------------- ---------- I Greater than 1.75 to 1.00 0.40% II Less than or equal to 1.75 to 1.00, 0.35% but greater than 1.00 to 1.00 III Less than or equal to 1.00 to 1.00, 0.30% but greater than 0.50 to 1.00 IV Less than or equal to 0.50 to 1.00 0.25% The Applicable Unused Fee shall be established at each Determination Date. Any change in the Applicable Unused Fee following each Determination Date shall be determined based upon the computations set forth in the certificate furnished to the Agent pursuant to SECTION 9.1(a)(ii) and SECTION 9.1(b)(ii), subject to review and approval of such computations by the Agent and shall be effective commencing on the fifth Business Day following the date such certificate is received until the fifth Business Day following the date on which a new certificate is delivered or is required to be delivered, whichever shall first occur; PROVIDED HOWEVER, if the Borrower shall fail to deliver any such certificate within the time period required by SECTION 9.1, then the Applicable Unused Fee shall be Tier I from the date such certificate was due until the appropriate certificate is so delivered. Subject to the proviso in the preceding sentence, during the Fixed Margin Period the Applicable Unused Fee shall be either Tier I or Tier II, in each case determined in accordance with the compliance certificate most recently delivered to the Agent pursuant to SECTION 7.1(a)(x), SECTION 9.1(a)(ii) or SECTION 9.1(b)(ii).
Applicable Unused Fee means that percent per annum, based upon the Consolidated Leverage Ratio for the Four-Quarter Period most recently ended, set forth as the Applicable Unused Fee in the Pricing Grid and subject to further adjustment as therein provided.
Applicable Unused Fee means 0.50% per annum based upon the Usage (as such term is defined below) as of the date of determination. As used in this definition, the term “Usage” shall mean on each date of determination the percentage of usage of the Revolving Commitments obtained by subtracting the average daily Total Revolving Outstandings for the most recent fiscal quarter ending prior to the date of determination from the aggregate Revolving Commitments then in effect.”
Applicable Unused Fee means that percent per annum set forth below, which shall be based upon the Consolidated Fixed Charge Coverage Ratio for the Four-Quarter Period most recently ended as specified below: APPLICABLE CONSOLIDATED FIXED UNUSED CHARGE COVERAGE RATIO FEE --------------------- ----------
Applicable Unused Fee means the per annum rate (calculated based upon days elapsed over a 360 day year) shown in the table below based on the applicable Debt to EBITDARS Ratio, calculated for Borrower on a consolidated basis and without duplication in accordance with GAAP; provided, however, that for the twelve-month period commencing on the Fourth Amendment Effective Date, the Applicable Unused Fee shall be fixed at 0.500%); provided, further however, that if at the end of such twelve-month period, the Borrower is non-compliant with any covenant under this Agreement, then, notwithstanding the last sentence of this definition, which shall be of no force and effect during such noncompliance following the end of such twelve-month period, the Applicable Unused Fee shall be fixed at 0.500% for so long as the Borrower is non-compliant with such covenant:”