Applicable Utilization Fee definition

Applicable Utilization Fee means, as of any date that the aggregate Advances exceed 33% of the aggregate Commitments, a percentage per annum determined by reference to the Public Debt Rating in effect on such date as set forth below: -------------------------------- ----------------------------- Public Debt Rating Applicable S&P/Moody's Utilization Fee -------------------------------- ----------------------------- Level 1 BBB+ or Baa1 or above 0.125% -------------------------------- ----------------------------- Level 2 BBB or Baa2 0.250% -------------------------------- ----------------------------- Level 3 BBB- and Baa3 0.000% -------------------------------- ----------------------------- Level 4 BBB- or Baa3 0.000% -------------------------------- ----------------------------- Level 5 BB+ and Ba1 0.000% -------------------------------- ----------------------------- Level 6 Lower than Level 5 0.000% -------------------------------- -----------------------------

Applicable Utilization Fee means, for any date that the aggregate principal amount of outstanding Advances exceed 50% of the aggregate Commitments, a fluctuating per annum rate equal to the then-applicable rate set forth in the pricing grid below, depending upon the rating of the long-term senior unsecured debt of TBC then in effect: Level I AA- by S&P, Aa3 by Moody’s or AA- by Fitch or above 0.050 % Level II less than Level I but at least A+ by S&P, A1 by Moody’s or A+ by Fitch or above 0.050 % Level III less than Level II but at least A by S&P, A2 by Moody’s or A by Fitch 0.050 % Level IV less than Level III but at least A- by S&P, A3 by Moody’s or A- by Fitch 0.050 % Level V less than Level IV but at least BBB+ by S&P, Baa1 by Moody’s or BBB+ by Fitch 0.050 % Level VI less than Level V 0.100 % provided, however, that if the ratings from S&P, Xxxxx’x and Fitch fall within different levels, (i) two of the ratings are at the same level and the other rating is one level higher or one level lower than the two same ratings, the Applicable Utilization Fee will be based on the two ratings at the same level, (ii) two of the ratings are at the same level and the other rating is two or more levels above the two same ratings, the Applicable Utilization Fee will be based on the rating that is one level above the two same ratings, (iii) two of the ratings are at the same level and the other rating is two or more levels below the two same ratings, the Applicable Utilization Fee will be based on the rating that is one level below the two same ratings and (iv) each of the three ratings fall within different levels, then the Applicable Utilization Fee will be determined based on the rating level that is in between the highest and the lowest ratings, and provided further that if, at any time, no rating is available from S&P, Xxxxx’x and Fitch or any other nationally recognized statistical rating organization designated by TBC and approved in writing by the Majority Lenders, the Applicable Utilization Fee for each Interest Period or each other period commencing during the thirty days following such ratings becoming unavailable shall be the Applicable Utilization Fee in effect immediately prior to such ratings becoming unavailable. Thereafter, the rating to be used until ratings from S&P, Xxxxx’x and Fitch become available shall be as agreed between TBC and the Majority Lenders, and TBC and the Majority Lenders shall use good faith efforts to reach such agreement within such thirty-day period, provid...

Applicable Utilization Fee means, as of any date that the aggregate Advances exceed 50% of the aggregate Commitments, a percentage per annum determined by reference to the Public Debt Rating in effect on such date as set forth below: Xxxxx 0 XX- xxx Xx0 or above 0.050 % Xxxxx 0 A+ and A1 0.050 % Level 3 A and A2 0.050 % Level 4 A- and A3 0.050 % Xxxxx 0 BBB+ and Baa1 0.050 % Xxxxx 0 Xxxxx xxxx Xxxxx 0 0.050 %

Examples of Applicable Utilization Fee in a sentence

• During such periods as such Revolving Credit Advance is a Base Rate Advance, a rate per annum equal at all times to the sum of (x) the Base Rate in effect from time to time plus (y) the Applicable Margin in effect from time to time plus (z) the Applicable Utilization Fee, if any, in effect from time to time, payable in arrears quarterly on the last day of each March, June, September and December during such periods and on the date such Base Rate Advance shall be Converted or paid in full.

• During such periods as such Revolving Credit Advance is a Base Rate Advance, a rate per annum equal at all times to the sum of (x) the Base Rate in effect from time to time plus (y) the Applicable Margin in effect from time to time plus (z) the Applicable Utilization Fee in effect from time to time, payable in arrears quarterly on the last day of each March, June, September and December during such periods and on the date such Base Rate Advance shall be Converted or paid in full.

• During such periods as such Advance is a Base Rate Advance, a rate per annum equal at all times to the sum of (x) the Base Rate in effect from time to time plus (y) the Applicable Margin in effect from time to time plus (z) the Applicable Utilization Fee in effect from time to time, payable in arrears quarterly on the last day of each March, June, September and December during such periods and on the date such Base Rate Advance shall be Converted or paid in full.

• During such periods as such Advance is a Base Rate Advance, a rate per annum equal at all times to the sum of (x) the Base Rate in effect from time to time plus (y) the Applicable Margin in effect from time to time plus (z) the Applicable Utilization Fee, if any, in effect from time to time, payable in arrears quarterly on the last day of each March, June, September and December during such periods and on the date such Base Rate Advance shall be Converted or paid in full.

• The Borrower shall pay to the Administrative Agent a fee (the "Letter of Credit Fee") for each day at a rate per annum equal to the Applicable Percentage for the Letter of Credit Fee for such day plus the Applicable Utilization Fee for such day, if any.

More Definitions of Applicable Utilization Fee

Applicable Utilization Fee means, as of any date prior to the Term Loan Conversion Date on which the aggregate Advances exceed 50% of the Commitments, a percentage per annum determined by reference to the Performance Level in effect on such date as set forth below:

Applicable Utilization Fee means, as of any date that the aggregate Advances exceed 33% of the aggregate Commitments, a percentage per annum determined by reference to the Public Debt Rating in effect on such date as set forth below:

Applicable Utilization Fee means, as of any date that the aggregate Advances exceed 50% of the aggregate Commitments, a percentage per annum determined by reference to the Public Debt Rating in effect on such date as set forth below: -------------------------------------------------------- Public Debt Rating Applicable S&P/Moody's Utilization Fee -------------------------------------------------------- Level 1 A+ or A1 or above 0.125% -------------------------------------------------------- Level 2 A or A2 0.125% -------------------------------------------------------- Level 3 A- or A3 0.125% -------------------------------------------------------- Level 4 BBB+ or Baa1 0.125% -------------------------------------------------------- Level 5 BBB or Baa2 0.125% -------------------------------------------------------- Level 6 Lower than Level 5 0.250% --------------------------------------------------------

Applicable Utilization Fee means, as to any Borrower, for each date -------------------------- on which the aggregate principal amount of the Advances exceeds 25% of the aggregate Commitments, a percentage per annum determined by reference to the Public Debt Rating of such Borrower in effect on such date as set forth below: -------------------------------------------------------------------------------------------------------------- Public Debt Rating Public Debt Rating Applicable (Short Term Rating) (Long Term Rating) Utilization Fee S&P/Xxxxx'x S&P/Xxxxx'x -------------------------------------------------------------------------------------------------------------- Xxxxx 0 Xxxxx 0 ------- ------- A-1+ and P-1 A+ or A1 0.050% -------------------------------------------------------------------------------------------------------------- Xxxxx 0 Xxxxx 0 ------- ------- Lower than Level 1 but Lower than Level 1 but at least A-1 and P-1 at least A or A2 0.050% -------------------------------------------------------------------------------------------------------------- Xxxxx 0 Xxxxx 0 ------- ------- Lower than Level 2 but Lower than Level 2 but at least at least A-1 or P-1 A- or A3 0.100% -------------------------------------------------------------------------------------------------------------- Xxxxx 0 Xxxxx 0 ------- ------- Lower than Level 3 but Lower than Level 3 but at least at least A-2 and P-2 BBB+ or Baa1 0.125% -------------------------------------------------------------------------------------------------------------- Xxxxx 0 Xxxxx 0 ------- ------- Lower than Xxxxx 0 Xxxxx xxxx Xxxxx 0 0.250% --------------------------------------------------------------------------------------------------------------

Applicable Utilization Fee means, as of any date on which the aggregate principal amount of the Advances plus the Letters of Credit exceeds 50% of the aggregate amount of the Lenders’ Revolving Commitments, a percentage per annum determined by reference to the Public Debt Rating in effect on such date as set forth below: Lxxxx 0 Xxxxxx xxxx Xxxxx 0 0.05% Level 2 BBB+/Baal/BBB+ 0.05% Level 3 BBB/Baa2/BBB 0.05% Lxxxx 0 XXX-/Xxx0/XXX- 0.00% Xxxxx 0 XX+/Xx0/XX+ 0.10% Lxxxx 0 Xxxxx xxxx Xxxxx 0 or unrated by S&P, Mxxxx’x and Fitch 0.10%

Applicable Utilization Fee means, as of any date that the sum of the aggregate Advances plus the Available Amount of all Letters of Credit exceed 50% of the aggregate Revolving Credit Commitments, a percentage per annum determined by reference to the Public Debt Rating in effect on such date as set forth below: Public Debt Rating Applicable S&P/Mxxxx'x Utilization Fee Level 1 BBB+ or Baa1 0.125 % Level 2 BBB or Baa2 0.125 % Lxxxx 0 XXX- xx Xxx0 0.125 % Lxxxx 0 BB+ or Ba1 0.250 % Lxxxx 0 Xxxxx xxxx Xxxxx 0 0.250 %

Applicable Utilization Fee means, as of any date that the aggregate Advances exceed 50% of the aggregate Commitments, 0.125% per annum.