Standby Fee Rate means, at any time, the applicable rate per annum set forth in the table below opposite the applicable S & P rating: ------------------------------------------------------------------------------- S & P'S CORPORATE CREDIT OR STANDBY FEE RATE UNSECURED DEBT RATING OF BORROWER ------------------------------------------------------------------------------- A- or above .10% per annum ------------------------------------------------------------------------------- BBB+ .125% per annum ------------------------------------------------------------------------------- BBB .15% per annum ------------------------------------------------------------------------------- BBB- .175% per annum ------------------------------------------------------------------------------- BB+ or below or unrated .25% per annum -------------------------------------------------------------------------------
Examples of Standby Fee Rate in a sentence
The Borrowers agree to pay a non-refundable standby fee (the “Standby Fee”) to the Agent for the account of the Lenders, calculated at a rate per annum on the basis of a year of 365 days, or 366 days in the case of a leap year, equal to the Standby Fee Rate on the daily unadvanced portion of the Credit Facility.
More Definitions of Standby Fee Rate
Standby Fee Rate means, at any time, the applicable rate per annum set forth in the table below opposite the applicable S & P rating: S & P’s Corporate Credit or Unsecured Debt Rating of Borrower Standby Fee Rate A- or above 0.10% per annum BBB+ 0.125% per annum BBB 0.15% per annum BBB- 0.20% per annum BB+ or below or unrated 0.30% per annum
Standby Fee Rate means the interest rate per annum shown in the column titled “Standby Fee Rate” in the pricing grid set forth in the definition of Applicable Margin.
Standby Fee Rate means from time to time, the applicable percentage rate per annum indicated beside the reference to "Standby Fee Rate" in the definition of "Applicable Margin.
Standby Fee Rate means, at any time, the rate, expressed as a rate per annum based on a year of 365 days, as set forth in the table in the definition of Applicable Margin in this Agreement, under the heading “Standby Fees (bps)”, based on the applicable Level therein;
Standby Fee Rate means, at any time, the applicable rate per annum set forth in the table below opposite the applicable S&P rating:
Standby Fee Rate means a rate per annum equal to, if the Debt to Free Cash Flow Ratio (calculated on a consolidated basis) is:
Standby Fee Rate means, at any time, a rate per annum equal to the rate set out in the following table opposite the applicable rating category assigned by Moody’s and S&P as an issuer rating or, if none, to the long term unsecured and unsubordinated debt of the Guarantor from time to time: Al/A+ or higher 5.0 bpsRating Category (Moody’s/S&P) Rating A2/A 6.0 bpsA3/A- 7.5 bpsBaal/BBB+ 10.0 bpsBaa2/BBB 12.5 bpsBaa3/BBB- or lower or not rated 15.0 bps provided that if at any time the issuer rating or, if none, the long term unsecured and unsubordinated debt of the Guarantor is rated by each of Moody’s and S&P and the rating so assigned by one of such agencies is in a category which is one category higher than the rating assigned by the other, then the Standby Fee Rate shall be the rate opposite the higher of the categories so assigned and if the rating as assigned by one of such agencies is in a category which is more than one higher than the rating assigned by the other, then the Standby Fee Rate shall be the category that is one category above the lower of such categories. A change in the Standby Fee Rate shall be effective as provided for in Section 5.5;