Gross Available Amount means, as of any date with respect to the Letter of Credit, the Available Amount of such Letter of Credit without taking into account any temporary reductions thereto in effect on such date.
Gross Available Amount means, as of any date, the Stated Amount without taking into account any temporary reductions thereto in effect on such date.
Gross Available Amount as used above shall mean, as of any date with respect to the Letter of Credit, the Stated Amount of the Letter of Credit without taking into account any temporary reductions thereto in effect on such date. The term “Rating” as used above shall mean the long-term, unenhanced debt ratings assigned by each of Xxxxx’x, S&P and Fitch (each a “Rating Agency” and collectively, the “Rating Agencies”) to the Senior Xxxx Xxxxx. The Facility Fees shall be based upon the level in which at least two of the Ratings appear. If no two Ratings are at the same level, the Facility Fees will be based upon the level in which the middle rating appears. Any change in the Facility Fee Rate resulting from a change in a Rating shall be and become effective as of and on the date of the announcement of the change in such Rating. References to Ratings above are references to rating categories as determined by the Rating Agencies at the date hereof, and, in the event of adoption of any new or changed rating system by any Rating Agency, including, without limitation, any recalibration or realignment of the long-term unenhanced rating assigned to the City’s Airport Revenue Bonds in connection with the adoption of a “global” rating scale, each of the Ratings referred to above from such Agency shall be deemed to refer to the rating category under the new rating system which most closely approximates the applicable rating category as in effect on the date hereof. The City acknowledges, and the Bank agrees, that as of the date hereof the Facility Fee Rate is that specified above for Level 1. The Facility Fees shall be payable quarterly in arrears, together with interest on the Facility Fees from the date payment is due until payment in full at the Default Rate. The computation of the Facility Fees payable by the City under this Fee Letter shall be made on the basis of a year of 360 days and the actual number of days elapsed, including date of issuance and expiration. Upon the occurrence and during the continuance of an Event of Default under the Agreement, or in the event any Rating by any Rating Agency is suspended, withdrawn or is otherwise unavailable and the City shall not have two Ratings on its Senior Xxxx Xxxxx, the Facility Fee Rate shall be increased by an additional two percent (2.0%) per annum from the Facility Fee Rate otherwise in effect.
Examples of Gross Available Amount in a sentence
The user carries her laptop and palmtop to each of these lo- cations and co-located machines communicate via wireless network at speeds indicated in Figure 4.13.
The County agrees to pay to the Bank a non-refundable Facility Fee payable quarterly in arrears on the first Business Day of each January, April, July and October occurring prior to the Termination Date, and on the Termination Date, in an amount equal to the rate per annum associated with the applicable Level as described below (the “Facility Fee Rate”) from November 20, 2022 to the Termination Date) on the Gross Available Amount of the Letter of Credit (the “Facility Fees”) during each related period.
More Definitions of Gross Available Amount
Gross Available Amount means, as of any date, the Available Amount without taking into account any temporary reductions thereto in effect on such date. LEVEL XXXXX’X RATING S&P RATING LETTER OF CREDIT FEE RATE Xxxxx 0 Xxxxx 0 Xxxxx 0 Xxxxx 0 Xxxxx 5 Level 6
Gross Available Amount means, as of any date, the Original Stated Amount without taking into account any temporary reductions thereto in effect on such date.
Gross Available Amount means, as of any date, the Stated Amount of the Letter of Credit without regard to reductions subject to reinstatement in effect on such date.