For thelevel program, the Seller may select the specific Mortgages for which the Credit Fee in Yield is to be adjusted.
Applicable Letter of Credit Fee Rate means the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Letter of Credit Fee.”
Letter of Credit Fee has the meaning specified in Section 2.03(h).
Commitment Fee Rate has the meaning set forth in the definition of “Applicable Margin”.
Applicable Unused Line Fee Percentage means, as of any date of determination, the applicable percentage set forth in the following table that corresponds to the Average Revolver Usage of Borrowers for the most recently completed month as determined by Agent in its Permitted Discretion; provided, that for the period from the Closing Date through and including February 28, 2015, the Applicable Unused Line Fee Percentage shall be set at the rate in the row styled "Level II"; provided further, that any time an Event of Default has occurred and is continuing, the Applicable Unused Line Fee Percentage shall be set at the margin in the row styled "Level II": Level Average Revolver Usage Applicable Unused Line Fee Percentage I > 50% of the Maximum Revolver Amount 0.25 percentage points II < 50% of the Maximum Revolver Amount 0.375 percentage points The Applicable Unused Line Fee Percentage shall be re-determined on the first date of each fiscal month of Borrowers by Agent.
Applicable Letter of Credit Fee Rate shall mean the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Letter of Credit Fee.” Applicable Margin shall mean, as applicable:
Fee Rate means initially 0.25% per annum, which shall be subject to increase by 0.25% per annum for each Week in respect of which any Failure has occurred and is continuing.
Letter of Credit Fees shall have the meaning set forth in Section 3.2.
Unused Line Fee has the meaning specified in Section 2.5.