Unused Commitment Fee Percentage definition
Unused Commitment Fee Percentage means the percentage upon which the Unused Commitment Fee shall be calculated, as determined in accordance with Attachment I hereto. The Unused Commitment Fee Percentage earned during any calendar quarter shall be determined based upon the Borrower’s ratio of Funded Debt to EBITDA as of the last day of the immediately prior calendar quarter. The Unused Commitment Fee Percentage shall be determined and adjusted quarterly on the first day of the first month after the date by which the annual and quarterly compliance certificates and related financial statements and information are required in accordance with the provisions of this Agreement.
Unused Commitment Fee Percentage means the rate equal to (i) 0.10% plus (ii) the Commitment Fee Percentage (as defined in MSG NP Credit Agreement).
Unused Commitment Fee Percentage means, as of the date of determination, the percentage set forth in the table below opposite the applicable range of the ratio of Total Funded Debt to EBITDA of the Borrower and its Subsidiaries as of such date of determination; provided, however, notwithstanding the foregoing, the Unused Commitment Fee Percentage shall be 0.200% so long as the Borrower is in compliance with the requirements of Section 5.12 hereof. Reductions and increases in the Unused Commitment Fee Percentage will be verified by the Agent upon receipt of the financial statements of the Borrower and its Subsidiaries and related compliance certificate as required under Section 5.1(b) of this Agreement. The ratio will be determined on the basis of a rolling four quarter calculation of the ratio of Total Funded Debt to EBITDA as of the last day of the most recent quarter-end reflected in the most recent financial statements delivered by the Borrower for the Borrower and its Subsidiaries under Section 5.1(b). Any reduction or increase in the Unused Commitment Fee Percentage will become effective on the first day of the first month following the applicable Quarterly Financial Statement Due Date. If the Borrower fails to deliver the financial statements of the Borrower and its Subsidiaries and/or related compliance certificate required under Section 5.1(b) on or before the applicable Quarterly Financial Statement Due Date, the Borrower and its Subsidiaries shall be deemed to have a ratio of Total Funded Debt to EBITDA for such quarter of more than 2.00 to 1.00, and the Unused Commitment Fee Percentage will be 0.350% beginning on the first day of the first month following such Quarterly Financial Statement Due Date and will continue as such until the Borrower delivers the financial statements of the Borrower and its Subsidiaries for the next fiscal quarter in accordance with Section 5.1(b).
Examples of Unused Commitment Fee Percentage in a sentence
The Borrower shall pay to the Lender a commitment fee (the “Unused Commitment Fee”) in an amount equal to Unused Commitment Fee Percentage.
Commencing on the first day of the first month following the applicable Quarterly Financial Statement Due Date, the Unused Commitment Fee Percentage shall be __________%.
All references in the Credit Agreement to "Commitment Fee Percentage" are hereby amended to be references to "Unused Commitment Fee Percentage" as defined in this Amendment.
During the period from the date hereof until the earlier of the Revolving Credit Expiration Date or the date on which the Revolving Credit Facility is terminated pursuant to the provisions hereof, the Borrowers shall pay to the Lender an availability fee in a per annum amount equal to the Unused Commitment Fee Percentage times the average daily unused portion of the Revolving Credit Amount.
The Borrower agrees to pay to the Agent, for the pro rata account of the Banks, an unused commitment fee (the "Unused Commitment Fee") computed at the rate of the applicable Unused Commitment Fee Percentage per annum on the daily average amount by which the Revolving Commitment Amount exceeds the Revolving Facility Outstanding Amount, from the Closing Date to and including the Revolving Commitment Termination Date, payable quarterly in arrears on the last day of each August, November, February and May.
More Definitions of Unused Commitment Fee Percentage
Unused Commitment Fee Percentage means the applicable percentage set forth below, which shall be determined from time to time in accordance with the following schedule based on the Leverage Ratio: Leverage Ratio Unused Commitment Fee Percentage -------------- -------------------------------- Equal to or greater than 3.5:1.0 0.35% Less than 3.5:1.0 0.15%
Unused Commitment Fee Percentage means, for any day, the percentage determined pursuant to the table below based on the ratio of (a) Outstanding Credit on such day, to (b) the Borrowing Base in effect on such day: Ratio of Outstanding Unused Commitment Credit to Borrowing Base Fee Percentage < .50 to 1 .30% > .50 to 1 < .70 to 1 .35% - - > .70 to 1 < .90 to 1 .375% - > .90 to 1 .425%
Unused Commitment Fee Percentage is defined in the Lender Fee Letter.
Unused Commitment Fee Percentage means twenty-five (25) basis points.
Unused Commitment Fee Percentage means the per annum percentage which is used to calculate the Unused Commitment Fee. The Unused Commitment Fee Percentage shall be determined as provided in the Pricing Grid and may change for each Fiscal Quarter.
Unused Commitment Fee Percentage means (i) 0.50% per annum for the period from the Closing Date through and including the first day of the month following receipt by the Bank of the consolidated financial statements described in Section 6.01(b) for the period ending June 30, 2002 and (ii) thereafter shall be the rate per annum determined by reference to the Total Consolidated Debt to Consolidated EBITDA Ratio in accordance with the following table: Total Consolidated Debt to Consolidated EBITDA Ratio Unused Commitment Fee Percentage Equal to or higher than 3.0 to 1 0.50% but lower than 3.5 to 1 Equal to or higher than 2.5 to 1 0.50% but lower than 3.0 to 1 Equal to or higher than 2.0 to 1 0.50% but lower than 2.5 to 1 Equal to or higher than 1.5 to 1 0.375% but lower than 2.0 to 1 Equal to or higher than 1.0 to 1 0.25% but lower than 1.5 to 1 Lower than 1.0 to 1 0.25% Except during the initial period described in clause (i) above, the Unused Commitment Fee Percentage will be automatically adjusted as of the first day of the month following receipt by the Bank of consolidated financial statements of the Borrower and its Consolidated Subsidiaries pursuant to Section 6.01(a) or Section 6.01(b) demonstrating to the Bank's reasonable satisfaction that there has been a change in the Total Debt to EBITDA Ratio which would cause a change in the Unused Commitment Fee Percentage in accordance with the preceding table. At all times after and during the continuance of a Default with respect to the Borrower's obligations under Section 6.01(a) or Section 6.01(b) until the delivery of the applicable financial statements required pursuant thereto, the Unused Commitment Fee Percentage shall be 3.0%.
Unused Commitment Fee Percentage means (i) 0.375% for the period from March 31, 2007 through and including the first day of the month following receipt by the Bank of the consolidated financial statements described in Section 6.01(b) for the period ending June 30, 2007 and (ii) thereafter shall be determined by reference to the Total Consolidated Senior Debt to Consolidated EBITDA Ratio in accordance with the following table: Equal to or higher than 1.5 to 1 0.375 % Equal to or higher than 1.0 to 1 but lower than 1.5 to 1 0.25 % Lower than 1.0 to 1 0.20 % Except during the initial period described in clause (i) above, the Unused Commitment Fee Percentage will be automatically adjusted as of the first day of the month following receipt by the Bank of consolidated financial statements of the Borrower and its Consolidated Subsidiaries pursuant to Section 6.01(a) or Section 6.01(b) demonstrating to the Bank’s reasonable satisfaction that there has been a change in the Total Consolidated Senior Debt to Consolidated EBITDA Ratio which would cause a change in the Unused Commitment Fee Percentage in accordance with the preceding table. At all times after and during the continuance of a Default with respect to the Borrower’s obligations under Section 6.01(a) or Section 6.01(b) until the delivery of the applicable financial statements required pursuant thereto, the Unused Commitment Fee Percentage shall be 0.375%.