Applicable Unused Fee Rate definition

Applicable Unused Fee Rate means 0.375%.

Applicable Unused Fee Rate appearing in Section 1.1. of the Credit Agreement is hereby amended in its entirety to read as follows:

Applicable Unused Fee Rate means, for any Type of Loans the following percentages per annum:

Examples of Applicable Unused Fee Rate in a sentence

• Not more than ten (10) Business Days after the first day of each calendar quarter, the Administrative Agent shall determine the Applicable Unused Fee Rate for such calendar quarter (which shall be effective as of the first calendar day of such calendar quarter) based on the average daily level of Total Revolver Outstandings (excluding Swingline Loans) during the prior calendar quarter.

• The US Borrower shall pay to the Administrative Agent for the Pro Rata benefit of the US Lenders, a fee equal to the product of the Applicable Unused Fee Rate times the amount by which the Total Revolver Commitments exceed the average daily balance of the Total Revolver Outstandings (excluding Swingline Loans) during any calendar quarter.

• 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.

• Borrower agrees to pay to Agent for the benefit of each Lender an unused fee (the “Unused Fee”) for the Commitment Period, computed at the Applicable Unused Fee Rate per annum on the average daily unused amount of each Lender’s Commitment during the Commitment Period, payable quarterly in arrears and due on the fifth (5th) calendar day of each calendar quarter and on the last day of the Commitment Period, commencing on the first of such dates to occur after the Agreement Date.

• During the continuance of a Default, the Required Lenders may, at their option, by notice to the Borrower, declare that the Applicable Unused Fee Rate shall accrue at the Default Rate; provided, that during the continuance of a Default under Section 7.6 or 7.7, the Applicable Unused Fee Rate shall accrue at the Default Rate without any election or action on the part of the Administrative Agent or any Lender.

More Definitions of Applicable Unused Fee Rate

Applicable Unused Fee Rate means the following percentages per annum, based upon the Total Leverage Ratio as set forth in the most recent Compliance Certificate received by Lender pursuant to this Agreement: Greater than or equal to 2.75 to 1.00 (“Level 1”) 0.500% 0.500% 3.000% Greater than or equal to 2.25 to 1.00 but less than 2.75 to 1.00 (“Level II”) 0.500% 0.250% 2.750% Greater than or equal to 1.75 to 1.00 but less than 2.25 to 1.00 (“Level III”) 0.500% 0.250% 2.500% Greater than or equal to 1.25 to 1.00 but less than 1.75 to 1.00 (“Level IV”) 0.500% 0.250% 2.250% Less than 1.25 to 1.00 (“Level V”) 0.500% 0.250% 2.000%

Applicable Unused Fee Rate means 35 basis points.

Applicable Unused Fee Rate means, for any day with respect to the Unused Fee, the applicable rate per annum set forth below, based upon the Unused Fee Ratio in the table below: Level I £ 50% 50 Level II > 50% 35

Applicable Unused Fee Rate means, at any time, the percentage per annum at which unused fees are accruing on the unused portion of the Letter of Credit Commitment at such time as set forth in the Pricing Schedule.

Applicable Unused Fee Rate means, for each applicable period, 0.25%.

Applicable Unused Fee Rate means, as at any date of determination, the rate per annum indicated in Section 2.5(b) hereof as then applicable in the determination of the Unused Fee (under Section 2.4 hereof).

Applicable Unused Fee Rate means, as of any date of determination, (i) at all times when the Total Outstandings are less than 50% of the aggregate Commitments, a rate per annum equal to 4.0%, (ii) at all times when the Total Outstandings are greater than or equal to 50% of the aggregate Commitments, but are less than 75% of the aggregate Commitments, a rate per annum equal to 3.0%, and (iii) at all times when the Total Outstandings are greater than or equal to 75% of the aggregate Commitments, a rate per annum equal to 2.0%.