Commitment Fee Margin definition

Commitment Fee Margin means a per annum rate equal to 0.50%.
Commitment Fee Margin means a per annum rate equal to the sum of the Adjusted LIBO Rate for such Interest Period plus 5.50%.
Commitment Fee Margin means the applicable percent per annum determined in accordance with Subsection 1.2(B).

Examples of Commitment Fee Margin in a sentence

  • For any quarter during the Term where the average daily unpaid balance of the Advances outstanding for each day of the quarter does not equal the Maximum Advance Amount, then Borrower shall pay to Agent for the ratable benefit of Lenders a fee at a rate per annum equal to the Applicable Commitment Fee Margin on the amount by which the Maximum Advance Amount exceeds such average daily unpaid balance during such quarter.

  • The commitment fee shall be calculated monthly in arrears, and if there is any change in the Applicable Commitment Fee Margin during any month, the actual daily amount shall be computed and multiplied by the Applicable Commitment Fee Margin separately for each period during such month that such Applicable Commitment Fee Margin was in effect.

  • In addition to certain fees described in Section 3.08, the Borrowers shall pay to the Agent, for the account of each Lender in accordance with its Pro Rata Share, a commitment fee on the average daily unused portion of the Aggregate Commitment during each fiscal quarter based upon the daily utilization for that quarter as calculated by the Agent, equal to the Commitment Fee Margin multiplied by the average of the daily unused portion.

  • The Borrower shall pay to the Agent, for the pro rata account of each Bank, a commitment fee at a rate per annum equal to the Applicable Commitment Fee Margin on the daily average unused amount of such Bank's Revolving Credit Commitment, for the period from and including the date of the First Amendment to but excluding the earlier of the date Revolving Credit Commitments are terminated or the Revolving Credit Termination Date.

  • Such Compliance Certificate shall be used for the determination of the Applicable Margin as to all Loans and the Applicable Commitment Fee Margin.


More Definitions of Commitment Fee Margin

Commitment Fee Margin means 0.25% per annum.
Commitment Fee Margin means, as at any date of determination, the rate per annum then applicable determined in accordance with the provisions of Section 2.07(b) hereof.
Commitment Fee Margin has the meaning set forth in the definition ofApplicable Margin”.
Commitment Fee Margin means Commitment Fees payable by the Borrower, the appropriate applicable percentages, in each case, corresponding to the Rating of the Borrower in effect from time to time as shown below: I. >A from S&P or >A2 from Xxxxx’x or >A from Fitch .07% II. A- from S&P or A3 from Moody’s or A- from Fitch .08% III. BBB+ from S&P or Baa1 from Moody’s or BBB+ from Fitch .10% IV. BBB from S&P or Baa2 from Moody’s or BBB from Fitch .125% V. BBB- from S&P or Baa3 from Moody’s or BBB- from Fitch .15% VI. BB+ from S&P or Ba1 from Moody’s or BB+ from Fitch .20% VII. < BB+ from S&P or < Ba1 from Moody’s or < BB+ from Fitch .25% Notwithstanding the above, if at any time there is a split in Ratings among S&P, Moody’s and Fitch and (i) two Ratings are equal and higher than the third, the higher Rating will apply, (ii) two Ratings are equal and lower than the third, the lower Rating will apply or (iii) no Ratings are equal, the intermediate Rating will apply. In the event that the Borrower shall maintain Ratings from only two of S&P, Moody’s and Fitch and the Borrower is split-rated and (x) the Ratings differential is one level, the higher Rating will apply and (y) the Ratings differential is two levels or more, the level one level lower than the higher Rating will apply. The Commitment Fee Margin shall be determined and adjusted on the date of any applicable change in the Rating of the Borrower. The Commitment Fee Margin payable by the Borrower shall be the appropriate applicable percentages from time to time, as shown above, calculated based on the Ratings of the Borrower at such time. These Ratings shall be determined based upon the Rating for the Borrower in effect on such day as published by S&P, Moody’s and Fitch; it being understood that the initial Commitment Fee Margin is based on Pricing Level III (as shown above) and shall remain at Pricing Level III until a change in the Ratings of the Borrower. The Borrower shall at all times maintain a Rating from at least two of S&P, Moody’s and Fitch. If at any time the Borrower does not have a Rating from at least two of S&P, Moody’s and Fitch, the Commitment Fee Margin shall be set at Pricing Level VII. The Borrower shall promptly deliver to the Administrative Agent, at the address set forth on Schedule 12.1, information regarding any change in the Rating of the Borrower that would change the existing Pricing Level (as set forth in the chart above) and/or the Commitment Fees.
Commitment Fee Margin means, at all times during the applicable periods set forth below, the percentage set forth below under the heading "Commitment Fee" and adjacent to such period: ======================== ================ ========================= WHEN THE AND EQUAL LEVERAGE RATIO TO OR LESS IS GREATER THAN THAN COMMITMENT FEE ------------------------ ---------------- ------------------------- 4.00:1.00 0.500% ------------------------ ---------------- ------------------------- 4.00:1.00 0.375% ======================== ================ ========================= Changes in the Commitment Fee Margin resulting from a change in the Leverage Ratio shall be based upon the certificate most recently delivered under Section 6.1(e) and shall become effective on the Rate Change Date with respect thereto. Notwithstanding anything to the contrary in this definition, if the Borrower shall fail to deliver to the Administrative Agent any such certificate on or prior to any date required hereby, the Leverage Ratio for purposes of this defined term only shall be deemed to be greater than 4.00:1.00 from and including such date to the earlier of (a) delivery of such certificate, and (b) the next succeeding Rate Change Date.
Commitment Fee Margin means, on any date of determination of the commitment fee set forth in Section 2.02(a), the per annum rate specified in the table below, taking into account the Rating Level in effect on such date of determination: ---------------------- --------------------- --------------------- ---------------------- ----------------- Rating Rating Rating Rating Rating Levxx X Xxxxx XX Xxxxx XXX Xxxxx XX Level V ---------------------- --------------------- --------------------- ---------------------- ----------------- 0.35% 0.40% 0.50% 0.60% 0.70% ---------------------- --------------------- --------------------- ---------------------- ----------------- The Commitment Fee Margin shall be increased or decreased in accordance with this definition upon any change in the applicable ratings of the Index Debt, and such increased or decreased Commitment Fee Margin shall be effective from the date of announcement of any such new ratings.
Commitment Fee Margin means (i) 0.375% per annum, for the Commitment --------------------- Fee accrued from the Closing Date to the first Rate Adjustment Date to occur after the Closing Date; and (ii) from each Rate Adjustment Date after the Closing Date to the subsequent Rate Adjustment Date, the Commitment Fee Margin in the following table set forth opposite the Senior Debt Ratio as of the last day of the fiscal quarter immediately preceding such Rate Adjustment Date: Senior Debt Ratio Commitment Fee Margin Pricing Level ----------------- --------------------- ------------- Less than 2.50 0.250% Tier I Greater than or equal to 0.250% Tier II 2.50 and less than 3.00 Greater than or equal to 0.300% Tier III 3.00 and less than 3.50 Greater than or equal to 0.375% Tier IV 3.50 and less than 4.00 Greater than or equal to 0.375% Tier V 4.00 Notwithstanding the foregoing, (x) in order for Borrower to qualify for the Tier I pricing level, the Debt Coverage Ratio must be less than 3.00 as of the last day of the fiscal quarter immediately preceding such Rate Adjustment Date; (y) if on any Rate Adjustment Date, Borrower has failed to deliver the financial statements required to be delivered pursuant to Sections 5.2(a) and 5.2(b), as applicable, or the Compliance Certificate required to be delivered pursuant to Section 5.2(c) for the fiscal quarter immediately preceding such Rate Adjustment Date, then (i) the Commitment Fee Margin shall be adjusted to the Tier V pricing level on such Rate Adjustment Date, and (ii) the date of delivery of such financial statements and Compliance Certificate shall be treated as a Rate Adjustment Date if no Default or Event of Default has occurred and is continuing on the date of such delivery; and (z) if a Default or Event of Default has occurred and is continuing on any Rate Adjustment Date, then no decrease in the Commitment Fee Margin shall occur on such Rate Adjustment Date. Any calculation pursuant to clause (y)(i) in the preceding sentence shall not excuse or limit the remedies available for any Default or Event of Default as a result of the failure to deliver such financial statements or Compliance Certificate.