Commitment Rate definition

Commitment Rate means (i) in respect of each Interest Accrual Period falling within the Initial Interest Period, 2.771934 per cent. per annum; and (ii) in respect of each Interest Accrual Period thereafter, a rate equal to the Commitment Rate immediately prior to the start of such Interest Accrual Period subject to adjustment in accordance with item (a) and (b) below if the Issuer is holding Available Reinvestment Proceeds on the Reset Date falling on the first day of such Interest Accrual Period (or if such date is not a Business Day, the following Business Day).

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Commitment Rate means six percent (6%) per annum.

Commitment Rate means 0.40% per annum through and including June 30, 2019 and 0.36% per annum thereafter. The Commitment Rate shall be increased as described in the chart below if the debt rating assigned by the Rating Agencies to the unsecured long-term debt of the District, without regard to any third-party credit enhancement, falls to the corresponding levels specified below. Such increase shall be effective as of the Facility Fee Payment Date immediately prior to which the rating change occurs. The Commitment Rate shall be increased (cumulatively) as indicated below based on the lowest debt rating assigned to the unsecured, unenhanced long-term debt of the District specified in the schedule below:

Examples of Commitment Rate in a sentence

• Borrower agrees to pay to Agent for the benefit of each Lender a commitment fee (the “Commitment Fee”) for the Commitment Period, computed at the Applicable Commitment 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 each Quarterly Payment Date and on the last day of the Commitment Period, commencing on the first of such dates to occur after the date hereof.

• The Borrowers jointly and severally agree to pay to the Agent, for the respective account of each Bank, a fee (the "Commitment Fee") equal to the Applicable Commitment Rate multiplied by the average daily amount of the unused portion of such Bank's Commitment during each calendar quarter or portion thereof from the Closing Date to the Maturity Date (or to the date of termination in full of the Total Commitment, if earlier).

• The Applicable Floating Rate Margin and the Applicable Commitment Rate shall be adjusted, as applicable from time to time, effective on the first Business Day after any change in the Senior Debt Rating to the extent that such change in the Senior Debt Rating requires a corresponding change in the Applicable Floating Rate Margin.

• For each quarter (or portion thereof), the Unused Commitment Fee shall be equal to (A) the average daily Aggregate Commitment during such quarter (or portion thereof) minus (B) the Average Daily Outstandings for such quarter (or portion thereof), with the resulting number multiplied by (C) the Applicable Unused Commitment Rate, and the final product divided by (D) four (4).

• Borrower agrees to pay to Administrative Agent for the account of Lenders an Unused Commitment Fee, at a rate per annum equal to the Applicable Unused Commitment Rate, calculated on the basis of a 360-day year in accordance with this Section from the date hereof and to and including the Facility Termination Date, and payable quarterly in arrears on the first day of each January, April, July and October hereafter and on the Facility Termination Date.

More Definitions of Commitment Rate

Commitment Rate means (i) prior to February 5, 2012, the percentage per annum currently set fort in the Agreement and (ii) on or after February 5, 2012, the percentage per annum determined under the following matrix, based on the long-term

Commitment Rate means the per annum rate to be used to calculate the payment of Commitment Fees and shall mean the percentage rate, determined based on the ratio of Adjusted Funded Debt to Adjusted Cash Flow as of the last day of the fiscal quarter ending one quarter prior to the first day of the quarter for which such determination is being made as follows: Ratio Commitment Rate

Commitment Rate is based shall be computed on the basis of the financial statements delivered by Borrower pursuant to Section 5.06(a). Changes in the Commitment Rate shall be effective as of the first day of each fiscal quarter for which such determination is being made. In the event that any financial information provided by Borrower is subsequently determined to be inaccurate and accurate information would have resulted in a higher Commitment Rate, such higher Commitment Rate shall be given effect retroactively and Borrower shall promptly pay to the Agent for the benefit of the Banks such amount as is necessary to give effect to such change.

Commitment Rate means fourteen percent (14%) per annum on all amounts of the Commitment received by Borrower until repaid.

Commitment Rate means, on any date, the percentage rate per annum which is equal to 50% of the Margin that is applicable on such date.

Commitment Rate means twelve percent (12%) per annum.

Commitment Rate means 4.00 per cent. per annum; and