Letter of Credit Fee Rate definition

Letter of Credit Fee Rate means, with respect to a Letter of Credit, the annual percentage per annum indicated below the reference to “Letters of Credit” in the definition of “Applicable Margin” relevant to the period in respect of which determination is being made, as adjusted pursuant to the definition of “Applicable Margin”.

Letter of Credit Fee Rate means, at any time, the percentage rate per annum applicable to Letter of Credit Fees at such time as set forth in the Pricing Schedule.

Letter of Credit Fee Rate means, at any time, a percentage rate per annum determined in accordance with the Pricing Schedule.

Examples of Letter of Credit Fee Rate in a sentence

• The Borrower shall pay (i) to the Administrative Agent for the ratable account of the Lenders a fee (the “Letter of Credit Fee”) equal to the Applicable Letter of Credit Fee Rate on the daily amount available to be drawn under each Letter of Credit, and (ii) to each Issuing Lender for its own account a fronting fee equal to 0.125% per annum on the daily amount available to be drawn under each Letter of Credit issued by such Issuing Lender.

• The Borrower shall pay (i) to the Administrative Agent for the ratable account of the Lenders a fee (the “Letter of Credit Fee”) equal to the Applicable Letter of Credit Fee Rate on the daily amount available to be drawn under each Letter of Credit, and (ii) to the Issuing Lender for its own account a fronting fee equal to 0.125% per annum on the daily amount available to be drawn under each Letter of Credit.

• If there is any change in the Applicable Letter of Credit Fee Rate during any quarter, the daily amount available to be drawn under each Letter of Credit shall be computed and multiplied by the Applicable Letter of Credit Fee Rate separately for each period during such quarter that such Applicable Letter of Credit Fee Rate was in effect.

• The Borrower shall pay to the Administrative Agent for the ratable account of the Revolving Lenders a fee (the “Letter of Credit Fee”) equal to the Applicable Letter of Credit Fee Rate, which fee shall be computed on the daily average undrawn portion of the Letter of Credit Obligations and shall be payable quarterly in arrears on each Interest Payment Date and on the Maturity Date.

• The Borrower shall pay (i) to the Revolving/TLA Administrative Agent for the ratable account of the Revolving Lenders a fee (the “Letter of Credit Fee”) equal to the Applicable Letter of Credit Fee Rate on the daily amount available to be drawn under each Letter of Credit, and (ii) to each Issuing Lender for its own account a fronting fee equal to 0.125% per annum on the daily amount available to be drawn under each Letter of Credit issued by such Issuing Lender.

More Definitions of Letter of Credit Fee Rate

Letter of Credit Fee Rate has the meaning set forth in the Pricing Schedule.

Letter of Credit Fee Rate means the applicable rate per annum set forth in the Pricing Schedule.

Letter of Credit Fee Rate on any date, the percentage per annum set forth below which corresponds to the Senior Leverage Ratio shown on the last Compliance Certificate delivered by the Borrowers to the Lender pursuant to subsection 5.2(b) prior to such date: Level Senior Leverage Ratio Letter of Credit Fee Rate I Less than 0.5 to 1.0 1.00 % II Greater than or equal to 0.5 to 1.0 but less than 1.0 to 1.0 1.25 % III Greater than or equal to 1.0 to 1.0 but less than 1.5 to 1.0 1.50 % IV Greater than or equal to 1.5 to 1.0 1.75 % ; provided, however, that (i) adjustments, if any, to the Letter of Credit Fee Rate resulting from a change in the Senior Leverage Ratio shall be effective three Business Days after the Administrative Agent has received a Compliance Certificate evidencing such change, (ii) in the event that no Compliance Certificate has been delivered for a fiscal quarter prior to the last date on which it can be delivered without violation of subsection 5.2(b), the Letter of Credit Fee Rate from such date until such Compliance Certificate is actually delivered shall be that applicable under Level V, (iii) in the event that the actual Senior Leverage Ratio for any fiscal quarter is subsequently determined to be greater than that set forth in the Compliance Certificate for such fiscal quarter, the Letter of Credit Fee Rate shall be recalculated for the applicable period based upon such actual Senior Leverage Ratio and (iv) anything in this definition to the contrary notwithstanding, until receipt by the Lender of the Compliance Certificate for the fiscal quarter ending June 30, 2010, the Letter of Credit Fee Rate shall be that applicable under Level II. Any additional fees on the Letters of Credit resulting from the operation of clause (iii) above shall be payable by the Borrower to the Lender within five (5) days after receipt of a written demand therefor from the Lender.

Letter of Credit Fee Rate means, on any date, with respect to each Letter of Credit, the number of basis points set forth below based on the Applicable Utilization Level on such date:

Letter of Credit Fee Rate means on any date an amount equal to the Applicable Margin applicable to any portion of the Revolving Loan subject to a Eurodollar Pricing Option.

Letter of Credit Fee Rate means the Adjusted LIBO Rate plus 0.875%.

Letter of Credit Fee Rate means 3.75% per annum.