Unused Line Fee Margin definition

Unused Line Fee Margin means with respect to any month (or portion thereof) for which the unused line fee under Section 2.3 is being calculated, a per annum rate equal to three-eighths of one percent (0.375%).

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Unused Line Fee Margin means, from the Effective Date through the last day of the Fiscal Quarter ending June 30, 2019, 0.375% per annum. Commencing July 1, 2019, the Unused Line Fee will be adjusted on the first day of each Fiscal Quarter, effective prospectively through the last day of such Fiscal Quarter, as follows: (i) 0.250% per annum if the Quarterly Average Availability Percentage for the immediately preceding Fiscal Quarter was less than 50% or (ii) 0.375% per annum if the Quarterly Average Availability Percentage for the immediately preceding Fiscal Quarter was greater than or equal to 50%.

Unused Line Fee Margin means with respect to any month (or portion thereof) for which the unused line fee under SECTION 2.3 is being calculated, a per annum rate equal to (a) three-eighths of one percent (0.375%) if the sum of (i) the average daily balance of the Revolving Loan for such period plus (ii) the average daily balance of Letter of Credit Obligations for such period plus (iii) the average daily balance of the Canadian Facility Revolving Loan (expressed in U.S. Dollars) for such period, is less than $60,000,000 and (b) one-quarter of one percent (0.25%) if the sum of (i) the average daily balance of the Revolving Loan for such period plus (ii) the average daily balance of Letter of Credit Obligations for such period plus (iii) the average daily balance of the Canadian Facility Revolving Loan (expressed in U.S. Dollars) for such period, is equal to or greater than $60,000,000.

Examples of Unused Line Fee Margin in a sentence

Failure to timely deliver such Compliance Certificate shall, in addition to any other remedy provided for in this Agreement, result in an increase in the Applicable Margins (other than Applicable Unused Line Fee Margin) to the highest level set forth in the foregoing grid, until the date of the delivery of a Compliance Certificate demonstrating that such an increase is not required.
Concurrently with the delivery of those Financial Statements, Borrower Representative shall deliver to Agent and Lenders a certificate, signed by its chief financial officer, setting forth in reasonable detail the basis for the continuance of, or any change in, the Applicable Margins (other than the Applicable Unused Line Fee Margin).
If any Default or an Event of Default has occurred and is continuing at the time any reduction in the Applicable Margins (other than the Applicable Unused Line Fee Margin) is to be implemented, that reduction shall be deferred until the first day of the first Fiscal Quarter following the date on which all Defaults or Events of Default are waived or cured.
Borrower shall pay to Agent, for the benefit of Lenders, a fee in an amount equal to the Revolving Loan Commitment less the average daily balance of the Revolving Loan during the preceding month, multiplied by the Unused Line Fee Margin per annum.
As of the Closing Date, the Applicable Unused Line Fee Margin is 0.50%.
If the Average Unused Daily Balance for the eleven month period ending on March 31, 2003 or the twelve month period ending on March 31st in any year thereafter is less than $105,000,000, then the Applicable Unused Line Fee payable shall be increased retroactively to three quarters of one percent (0.75%) per annum and the amount of that increased Applicable Unused Line Fee Margin shall be payable in a single installment on or before April 13th of each year.
The Applicable Revolver Index Margin, Applicable Revolver LIBOR Margin, Applicable Term Loan Index Margin, Applicable Term Loan LIBOR Margin, Applicable L/C Margin, and Applicable Unused Line Fee Margin shall be 0.50%, 2.00%, 0.75%, 2.25%, 1.50%, and 0.375% per annum, respectively.
Failure to timely deliver such Financial Statements shall, in addition to any other remedy provided for in this Agreement, result in an increase in the Applicable Margins (other than the Applicable Unused Line Fee Margin) to the highest level set forth in the foregoing grid, until the first day of the first Fiscal Quarter following the delivery of those Financial Statements demonstrating that such an increase is not required.
Borrower shall pay to Agent, for the benefit of Lenders, a fee in an amount equal to the Revolving Loan Commitment less the sum of (i) the average daily balance of each of the Revolving Loans plus, (ii) the average daily balance of the Letter of Credit Obligations during the preceding month, multiplied by (iii) the Unused Line Fee Margin per annum.
The Applicable Acquisition Loan Unused Line Fee Margin shall be reduced by 0.25% for any month in which the average daily balance of the Acquisition Loan is greater than 50% of the Acquisition Loan Commitment.

More Definitions of Unused Line Fee Margin

Unused Line Fee Margin means with respect to any month (or portion thereof) for which the unused line fee under SECTION 2.3 is being calculated, a per annum rate equal to (a) three-eighths of one percent (0.375%) if the sum of (i) the average daily balance of the Revolving Loan (expressed in US Dollars) for such period plus (ii) the average daily balance of the US Facility Revolving Loan for such period plus (iii) the average daily balance of the US Facility Letter of Credit Obligations for such period, is less than US$60,000,000 and (b) one-quarter of one percent (0.25%) if the sum of (i) the average daily balance of the Revolving Loan (expressed in US Dollars) for such period plus (ii) the average daily balance of the US Facility Revolving Loan for such period, is equal to or greater than US$60,000,000. "US Dollars" and "US$" each means the lawful money of the United States of America.