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 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.
Sample 1
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.
Sample 1

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.

  • 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 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.

  • 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.

  • 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.

  • The Borrowers jointly and severally agree to pay to the Administrative Agent, for distribution to each Lender in proportion to that Lender's Pro Rata Share, a fee equal to Applicable Unused Line Fee Margin per annum on the daily average amount by which the Aggregate Commitment exceeds the outstanding principal balance of the Loans plus the Letter of Credit Obligations.


More Definitions of Unused Line Fee Margin

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%.
Sample 1

Related to Unused Line Fee Margin

  • Applicable Unused Line Fee Margin means the per annum fee, from time to time in effect, payable in respect of Borrowers’ non-use of committed funds pursuant to Section 1.9(b), which fee is determined by reference to Section 1.5(a).

  • Unused Line Fee has the meaning specified in Section 2.5.

  • Applicable Unused Line Fee Percentage means, as of any date of determination, the applicable percentage set forth in the following table that corresponds to the Average Revolver Usage of Borrowers for the most recently completed month as determined by Agent in its Permitted Discretion; provided, that for the period from the Closing Date through and including the last day of the third full calendar month following the Closing Date, the Applicable Unused Line Fee Percentage shall be set at the rate in the row styled “Level II”; provided further, that any time an Event of Default has occurred and is continuing, the Applicable Unused Line Fee Percentage shall be set at the margin in the row styled “Level II”: I > 50% of the Maximum Revolver Amount 0.375 percentage points II ≤ 50% of the Maximum Revolver Amount 0.50 percentage points The Applicable Unused Line Fee Percentage shall be re-determined on the first date of each month by Agent.

  • Unused Commitment Fee Rate has the meaning given to such term in the Fee Letter.

  • Applicable Unused Commitment Fee Rate means 0.50% per annum.

  • Applicable Commitment Fee Margin means, for each Pricing Period, the margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: II 10.0 V 17.5

  • Unused Fee Rate means 0.50% per annum.

  • Facility Fee Rate means a rate per annum determined in accordance with the Pricing Schedule.

  • Commitment Fee Rate has the meaning set forth in the definition of “Applicable Margin”.

  • Applicable Commitment Fee Rate means the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Commitment Fee.”

  • Undrawn Fee Rate has the meaning set forth in the Fee Letter.

  • Applicable Facility Fee Rate means, at any time, the percentage rate per annum at which Facility Fees are accruing on the Aggregate Commitment at such time as set forth in the Pricing Schedule.

  • Applicable Fee Rate means, at any time, the percentage rate per annum at which Commitment Fees are accruing on the unused portion of the Aggregate Commitment at such time as set forth in the Pricing Schedule.

  • Utilization Fee Rate means the percentage set forth in Schedule 1 hereto beside the then applicable Level.

  • L/C Fee Rate means the Applicable Margin with respect to LIBOR Rate Loans.

  • Applicable Margin means, with respect to Advances of any Type at any time, the percentage rate per annum which is applicable at such time with respect to Advances of such Type as set forth in the Pricing Schedule.

  • Applicable Utilization Fee Rate means, as of any date, the percentage rate per annum at which Utilization Fees accrue on all Revolving Credit Advances at such time as set forth in the Pricing Schedule.

  • Applicable Fee Percentage means, as of any date of determination thereof, the applicable percentage used to calculate certain of the fees due and payable hereunder, determined by reference to the appropriate columns in the Pricing Matrix attached to this Agreement as Schedule 1.1.

  • Applicable Commitment Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.15(C)(i) hereof determined in accordance with the provisions of Section 2.15(D)(ii) hereof.

  • Facility Fee Percentage means, as of any date, the percentage set forth in the column headed “Facility Fee Percentage” in Section 2.3 that is in effect on such date.

  • Unused Revolving Line Facility Fee is defined in Section 2.4(d).

  • Program Fee Rate is defined in the Fee Letter.

  • Free Margin means the amount of funds available in the Client Account, which may be used to open a position or maintain an Open Position. Free Margin shall be calculated as: Equity less (minus) Necessary Margin [Free margin = Equity- Necessary Margin].

  • 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”.

  • Applicable Facility Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.14(C)(i) hereof determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • Commitment Fee Percentage means, with respect to the Revolving Loan Commitments at any time, the per annum percentage which is used to calculate Commitment Fees for such Revolving Loan Commitments determined pursuant to the Pricing Grid.