Facility Fee Percentage means the applicable percentage per annum determined, at any time, based on the range into which Borrower’s Credit Rating (if any) then falls, in accordance with the following tables. The change in the Facility Fee Percentage, if any, shall be effective immediately as of the date on which any of the rating agencies announces a change in the Borrower’s Credit Rating or the date on which the Borrower has no Credit Rating, whichever is applicable. If at any time the Borrower shall have only one (1) Credit Rating, for purposes of this definition, the Facility Fee Percentage shall be deemed to be the Facility Fee Percentage as though the Borrower has no Credit Rating. The Facility Fee Percentage shall be as follows: Range of Borrower’s Corporate Credit Rating S&P/Xxxxx’x/Xxxxx Ratings Percentage of Maximum Revolving Credit Commitments Below BBB-/Baa3 or unrated 0.300 % BBB-/Baa3 0.250 % BBB/Baa2 0.200 % BBB+/Baa1 0.150 % A-/A3 0.125 % A/A2 0.100 % A+/A1 or higher 0.100 % If at any time when the Borrower has only two (2) Credit Ratings, and such Credit Ratings are split, then: (A) if the difference between such Credit Ratings is one ratings category (e.g. Baa2 by Xxxxx’x and BBB- by S&P or Fitch), the Facility Fee Percentage shall be the rate per annum that would be applicable if the higher of the Credit Ratings were used; and (B) if the difference between such Credit Ratings is two ratings category or more (e.g. Baa1 by Xxxxx’x and BBB- by S&P or Fitch), the Facility Fee Percentage shall be the rate per annum that would be applicable if the median of the applicable Credit Ratings were used. If at any time when the Borrower has three (3) Credit Ratings, and such Credit Ratings are split, then: (A) if the difference between the highest and the lowest such Credit Ratings is one ratings category (e.g. Baa2 by Xxxxx’x and BBB- by S&P or Fitch), the Facility Fee Percentage shall be the rate per annum that would be applicable if the highest of the Credit Ratings were used; and (B) if the difference between such Credit Ratings is two ratings category (e.g. Baa1 by Xxxxx’x and BBB- by S&P or Fitch) or more, the Facility Fee Percentage shall be the rate per annum that would be applicable if the average of the two (2) highest Credit Ratings were used, provided that if such average is not a recognized rating category, then the Facility Fee Percentage shall be the rate per annum that would be applicable if the second highest Credit Rating of the three were used.
Facility Fee Percentage means, as of any date, the percentage set forth in the applicable column headed “Facility Fee Percentage” in the pricing schedules contained on Exhibit A that is in effect on such date, subject to the conditions set forth in Exhibit A with respect to the effective date of changes in such percentage.
Facility Fee Percentage means on any date the applicable percentage set forth below based upon the ratings by S&P and Xxxxx'x, respectively, applicable on such date to the Index Debt:
Examples of Facility Fee Percentage in a sentence
If during any month the average daily Revolving Exposure for each day of the month does not equal the Revolving Commitment, then Borrowers must pay to Lender a fee at a rate per annum equal to the Applicable Unused Facility Fee Percentage multiplied by the amount that the Revolving Commitment exceeds the average daily Revolving Exposure.
More Definitions of Facility Fee Percentage
Facility Fee Percentage a percentage equal to at any time (i) during a Category A Period, .07%, (ii) during a Category B Period, .08%, (iii) during a Category C Period, .10% and (iv) during a Category D Period, .125%.
Facility Fee Percentage means the rate per annum set forth in the column identified by the Applicable Rating Level at the time of determination: Applicable Rating Level Xxxxx 0 Xxxxx 0 Xxxxx 0 Xxxxx 0 Xxxxx 5 Xxxxx 0 Xxxxx 0 Xxxxxxxx Xxx Xxxxxxxxxx 0.04% 0.05% 0.06% 0.07% 0.09% 0.10% 0.15% Any change in the Facility Fee Percentage shall be effective on the date on which Xxxxx’x, S&P or Fitch, as the case may be, announces any change in any rating that results in a change in the Applicable Rating Level.
Facility Fee Percentage means for any date the percentage per annum applicable on such date as set forth in the row labeled "Facility Fee Percentage" on Schedule II hereto, which is based on the ratings (or lack thereof) by Xxxxx'x or S&P or both of the public long-term senior unsecured debt securities of the Borrower.
Facility Fee Percentage shall have the meaning assigned thereto in Section 3.3(a).
Facility Fee Percentage means, for any day, the applicable rate per annum set forth below under the caption "Facility Fee Percentage", based upon the ratings by S&P and Moody's, respectively, applicable on such day to the Index Debt: ================================================================================ RATINGS FACILITY FEE PERCENTAGE (S&P MOODY'S) (BASIS POINTS PER ANNUM) -------------------------------------------------------------------------------- Category 1 BBB/Baa2 or higher 15.0 -------------------------------------------------------------------------------- Category 2 BBB-/Baa3 20.0 -------------------------------------------------------------------------------- Category 3 BB+/Ba1 25.0 -------------------------------------------------------------------------------- Category 4 lower than BB+/Ba1 or unrated 35.0 ================================================================================ For purposes of the foregoing, (i) if either Moody's or S&P shall not have in effect a rating for the Index Debt (other than by reason of the circumstances referred to in the second following sentence of this definition), then such rating agency shall be deemed to have established a rating in Category 4; (ii) if the ratings established or deemed to have been established by Moody's and S&P for the Index Debt shall fall within different Categories, the Facility Fee Percentage shall be based on the lower of the ratings; and (iii) if the ratings established or deemed to have been established by Moody's and S&P for the Index Debt shall be changed (other than as a result of a change in the rating system of Moody's or S&P), such change shall be effective as of the date on which it is first announced by the applicable rating agency. Each change in the Facility Fee Percentage shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change. If the rating system of Moody's or S&P shall change, or if either such rating agency shall cease to be in the business of rating corporate debt obligations, the Borrower and the Lenders shall negotiate in good faith to amend this definition to reflect such changed rating system or the unavailability of ratings from such rating agency and, pending the effectiveness of any such amendment, the Facility Fee Percentage shall be determined by reference to the rating most recently in effect prior to such change or cessation.
Facility Fee Percentage means the applicable percentage per annum determined, at any time, based on the range into which Borrower's Credit Rating (if any) then falls, in accordance with the following tables. Any change in the Facility Fee Percentage shall be effective immediately as of the date on which any of the rating agencies announces a change in the Borrower's Credit Rating or the date on which the Borrower has no Credit Rating, whichever is applicable.
Facility Fee Percentage means, as of any date, the percentage set forth in the column headed “Facility Fee Percentage” in Section 2.3 that is in effect on such date.