Applicable Utilization Fee Percentage definition

Applicable Utilization Fee Percentage means, at any time during a period set forth below, the percentage set forth opposite such period below: Applicable Period Utilization Fee Percentage ------ -------------------------- NIG Period .250% Minimum Investment .125% Grade Period Increased Investment Grade 0% Period Maximum Investment 0% Grade Period

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Applicable Utilization Fee Percentage means, for any day with respect to any Loan and subject to the provisions of the definition of “Applicable Margin” following the table therein, the rate per annum set forth below under the caption “Utilization Fee Rate Spread” corresponding to the Level in effect from time to time, as set forth in the following table: I >A+ or A1 0.05% V <BBB or Baa2 0.125%

Applicable Utilization Fee Percentage means, at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.9(b)(ii) hereof determined in accordance with the provisions of Section 2.9(c)(ii) hereof.

Examples of Applicable Utilization Fee Percentage in a sentence

• If on any day during any fiscal quarter, the amount of the Revolving Credit Obligations exceeds fifty percent (50%) of the Aggregate Revolving Loan Commitment at such time, the Company shall pay to the Administrative Agent, for the account of the Lenders in accordance with their Pro Rata Shares, a utilization fee accruing at a rate per annum equal to the then Applicable Utilization Fee Percentage on the Revolving Credit Obligations for such day.

• If, on any day during any fiscal quarter, the amount of the Revolving Credit Obligations exceeds twenty-five percent (25%) of the Aggregate Revolving Loan Commitment at such time, the Company shall pay to the Administrative Agent, for the account of the Lenders in accordance with their Pro Rata Shares, a utilization fee accruing at the rate of the then Applicable Utilization Fee Percentage on the Revolving Credit Obligations for such day.

• Applicable Facility Fee Percentage, Applicable L/C Fee Percentage and Applicable Utilization Fee Percentage.

• If the Ratings by S&P and Moody's are split so that the applicable Levels in the table above ▇▇▇ ▇▇▇arated by two intermediate Levels, then the intermediate Level representing the lowest Rating shall determine the Applicable Utilization Fee Percentage.

• The Company shall pay to the Agent, for the ratable account of the Banks, for the period from the Effective Date to and including the Termination Date, fees (the “Utilization Fees”) in an amount equal to the Applicable Utilization Fee Percentage per annum of the Aggregate Commitment Amount, in each case as in effect on the last day of each calendar quarter or the Termination Date (without giving effect to the termination of the Commitments on such date), as applicable.

More Definitions of Applicable Utilization Fee Percentage

Applicable Utilization Fee Percentage means, as of any date, with respect to the Utilization Fee as of any date, the percentage per annum determined by reference to the applicable Rating Category as set forth on Schedule I; provided, that a change in the Applicable Utilization Fee Percentage resulting from a change in the Rating Category shall be effective on the day on which either rating agency changes its rating and shall continue until the day prior to the day that a further change becomes effective. Notwithstanding the foregoing, the Applicable Utilization Fee Percentage for the Utilization Fee from the Closing Date until the first change in the applicable Rating Category after the Closing Date shall be at Level III as set forth on Schedule I.

Applicable Utilization Fee Percentage shall have the meaning given such term in Section 2.06(e).

Applicable Utilization Fee Percentage with respect to the amount of the Aggregate Commitments, at all times during which the applicable Pricing Level set forth below is in effect, the percentage set forth below next to such Pricing Level, subject to the provisos set forth below: Applicable Pricing Level Utilization Fee Percentage ------------- -------------------------- Pricing Level I 0.050% Pricing Level II 0.100% Pricing Level III 0.100% Pricing Level IV 0.125% Pricing Level V 0.125% Pricing Level VI 0.250%. Changes in the Applicable Utilization Fee Percentage resulting from a change in the Pricing Level shall become effective on the effective date of any change in the senior unsecured long-term debt rating of the Borrower or the Utility, as the case may be, from S&P or Mood▇'▇, ▇▇ the case may be. Notwithstanding anything herein to the contrary, in the event of a split in the senior unsecured long-term debt ratings of the Borrower or the Utility, as the case may be, from S&P and Mood▇'▇ ▇▇▇t would otherwise result in the application of more than one Pricing Level (had the provisions regarding the applicability of other Pricing Levels contained in the definitions thereof not been given effect), then the Applicable Utilization Fee Percentage shall be determined using, in the case of a split by one rating category, the higher Pricing Level, and in the case of a split by more than one rating category, the Pricing Level that is one level lower than the Pricing Level within which the higher of the two rating categories would otherwise fall.

Applicable Utilization Fee Percentage means, for each day on which the Utilization Ratio exceeds 0.50, the following percentages determined as a function of the Rating Level at any time:

Applicable Utilization 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)(ii) hereof determined in accordance with the provisions of the Pricing Schedule hereto.

Applicable Utilization Fee Percentage means, for any day, the respective rate per annum set forth in the table below opposite the Rating Level prevailing on such day under the caption “Applicable Facility Fee Percentage”, “Applicable Margin with respect to Base Rate Loans” “Applicable Margin with respect to Eurocurrency Loans” or “Applicable Utilization Fee Percentage”, as the case may be: Rating Level 1 0.100 % 0.400 % 0.000 % 0.125 % Rating ▇▇▇▇▇ ▇ 0.125 % 0.500 % 0.000 % 0.125 % Rating ▇▇▇▇▇ ▇ 0.150 % 0.600 % 0.000 % 0.125 % Rating ▇▇▇▇▇ ▇ 0.175 % 0.800 % 0.000 % 0.250 % Rating ▇▇▇▇▇ ▇ 0.225 % 1.000 % 0.250 % 0.250 % Rating ▇▇▇▇▇ ▇ 0.350 % 1.375 % 0.750 % 0.500 % Rating ▇▇▇▇▇ ▇ 0.500 % 1.750 % 1.250 % 0.500 % Each change in the Applicable Facility Fee Percentage, Applicable Margin with respect to Eurocurrency Loans, Applicable Margin with respect to Base Rate Loans and the Applicable Utilization Fee Percentage resulting from a change in the Debt Rating shall become effective on the date of announcement or publication by the relevant Rating Agency of a change in the Debt Rating or, in the absence of such announcement or publication, on the effective date of such change. With respect to any utilization fee payable under Section 2.05(b) hereof, the Applicable Utilization Fee Percentage on any date of determination shall be computed by reference to the Rating Level of the Borrower having outstanding borrowings on such day, weighted proportionately to the aggregate outstanding principal amount of such borrowings by the respective Borrowers.

Applicable Utilization Fee Percentage means, for any day, the percentage set forth below opposite the Applicable Period then in effect: Category A Period 0.050% Category B Period 0.050% Category C Period 0.050% Category D Period 0.050%