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).

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

• For more detailed description of the required insurance of the Association, please refer to Article 8 section 8.1-8.4 of the Bylaws.

• 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 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.

• The Applicable Commitment Rate shall be as set forth in the Pricing Table.

• When a payment is due under this Plan to a Participant who is unable to care for his or her affairs, payment may be made directly to the Participant’s legal guardian or personal representative.

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-termcredit rating for general obligation debt enhancement:

Commitment Rate means, in relation to any day in any Fee Period, the percentage rate per annum calculated by multiplying the Applicable Margin on that day by 0.5.

Commitment Rate means, for any day, calculated on a per annum basis:

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 means 4.00 per cent. per annum; and

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.