Utilization Fee Percentage means 0.100%.
Utilization Fee Percentage means, at any date or any period of determination, the Utilization Fee Percentage that would be in effect on such date pursuant to the chart set forth in Section 2.23 based on the rating of the Borrower’s senior unsecured non-credit enhanced long-term debt.
Utilization Fee Percentage means on any date, the applicable percentage set forth below based upon the ratings applicable on such date to the Company's Index Debt: ------------------------------------------------------------------------- Utilization Fee Percentage ------------------------------------------------------------------------- Category 1 A or higher by S&P; .100% A2 or higher by Moody's 27 21 ------------------------------------------------------------------------- Category 2 A- by S&P; .100% A3 by Moody's ------------------------------------------------------------------------- Category 3 BBB+ by S&P; .100% Baa1 by Moody's ------------------------------------------------------------------------- Category 4 BBB by S&P; .125% Baa2 by Moody's ------------------------------------------------------------------------- Category 5 BBB- by S&P; .125% Baa3 by Moody's ------------------------------------------------------------------------- Category 6 BB+ or lower by S&P; .125% Ba1 or lower by Moody's ------------------------------------------------------------------------- For purposes of the foregoing, (a) if either Moody's or S&P shall not have in effect a rating for Index Debt (other than because such rating agency shall no longer be in the business of rating corporate debt obligations), then such rating agency will be deemed to have established a rating for Index Debt in Category 6; (b) if the ratings established or deemed to have been established by Moody's and S&P shall fall within different Categories, the Utilization Fee Percentage shall be determined by reference to the higher (or numerically lower) Category unless one of the ratings is two or more categories lower (or numerically higher) than the other, in which case the Utilization Fee Percentage shall be determined by reference to the Category next above that of the lower of the two ratings; and (c) if any rating established or deemed to have been established by Moody's or S&P shall be changed (other than as a result of a change in the rating system of either Moody's or S&P), such change shall be effective as of the date on which such change is first announced by the rating agency making such change. Each change in the Utilization Fee Percentage shall apply during the period commencing on the effective date of such 28 22 change and ending on the date immediately preceding the effective date of the next such change. If the rating system of either Moody's or S&P shall change, or if either such rating agency shall cease to...
Examples of Utilization Fee Percentage in a sentence
The Borrower shall pay to the Administrative Agent for the pro rata account of the Banks a utilization fee on the aggregate outstanding principal amount of the Advances, for each day on which the Utilization Ratio exceeds 0.50, at a rate per annum equal to the Applicable Utilization Fee Percentage, payable on each day on which a payment of interest is due under Section 2.09.
Borrower shall pay to Agent for the account of each Lender in accordance with its Commitment Percentage, a utilization fee at a rate per annum equal to the Utilization Fee Percentage times the Total Outstandings on each day that the Total Outstandings exceed 33 1/3% of the actual daily amount of the Aggregate Commitments.
Any decrease in the Facility Fee, the applicable LIBOR Spread, the applicable FFR Spread or the Utilization Fee Percentage shall be effective on the date of announcement or publication by any of such rating agencies of an increase in rating or in the absence of announcement or publication on the effective date of such increase in rating.
The Borrower shall pay to the Administrative Agent for the pro rata account of the Banks a utilizationfee on the aggregate outstanding principal amount of the Advances, for each day on which the Utilization Ratio exceeds 0.50, at a rate per annum equal to the Applicable Utilization Fee Percentage, payable on each day on which a payment of interest is due under S ection 2.09.
The Applicable Utilization Fee Percentage shall be calculated by the Administrative Agent, which calculation absent manifest error shall be final and binding on all parties.
More Definitions of Utilization Fee Percentage
Utilization Fee Percentage means, as of any date that the aggregate Advances exceed 50% of the aggregate Commitments, a percentage per annum determined by reference to the Borrower’s Performance Level in effect on such date as set forth below: Xxxxx 0 0.100% Xxxxx 0 0.100% Xxxxx 0 0.125% Xxxxx 0 0.125% Xxxxx 0 0.125% Xxxxx 0 0.250%
Utilization Fee Percentage means, as of any date that the -------------------------- aggregate Advances exceed 50% of the aggregate Commitments, a percentage per annum determined by reference to the Borrower's Performance Level in effect on such date as set forth below: ----------------------------------------------------------- Performance Utilization Fee Level Percentage ----------------------------------------------------------- Xxxxx 0 0.100% ----------------------------------------------------------- Xxxxx 0 0.125% ----------------------------------------------------------- ------------------------------------------------------ Xxxxx 0 0.125% ------------------------------------------------------ Xxxxx 0 0.125% ------------------------------------------------------ Xxxxx 0 0.250% ------------------------------------------------------
Utilization Fee Percentage means, as of any date, a percentage per annum determined by reference to the Public Debt Rating in effect on such date as set forth below: Level 1 A+/A1 or above 0.050 % Lxxxx 0 Xxxxx xxxx X+/X0 but at least A/A2 0.050 % Lxxxx 0 Xxxxx xxxx X/X0 but at least A-/A3 0.075 % Lxxxx 0 Xxxxx xxxx X-/X0 but at least BBB+/Baa1 0.075 % Lxxxx 0 Xxxxx xxxx XXX+/Xxx0 but at least BBB/Baa2 0.100 % Level 6 Lower than BBB/Baa2 or no Public Debt Rating in effect 0.100 %
Utilization Fee Percentage means on any date, the applicable percentage set forth below based upon the ratings applicable on such date to the Company's Index Debt: Utilization Fee Percentage ---------- Category 1 ---------- A or higher by S&P; .100% A2 or higher by Moody's A- by S&P; .100% A3 by Moody's Category 3 ---------- BBB+ by S&P; .100% Baa1 by Moody's Category 4 ---------- BBB by S&P; .125% Baa2 by Moody's Utilization Fee Percentage ---------- Category 5 ---------- BBB- by S&P; .125% Baa3 by Moody's Category 6 ---------- BB+ or lower by S&P; .125% Ba1 or lower by Moody's For purposes of the foregoing, (a) if either Moody's or S&P shall not have in effect a rating for Index Debt (other than because such rating agency shall no longer be in the business of rating corporate debt obligations), then such rating agency will be deemed to have established a rating for Index Debt in Category 6; (b) if the ratings established or deemed to have been established by Moody's and S&P shall fall within different Categories, the Utilization Fee Percentage shall be determined by reference to the higher (or numerically lower) Category unless one of the ratings is two or more categories lower (or numerically higher) than the other, in which case the Utilization Fee Percentage shall be determined by reference to the Category next above that of the lower of the two ratings; and (c) if any rating established or deemed to have been established by Moody's or S&P shall be changed (other than as a result of a change in the rating system of either Moody's or S&P), such change shall be effective as of the date on which such change is first announced by the rating agency making such change. Each change in the Utilization Fee Percentage shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change. If the rating system of either Moody's or S&P shall change, or if either such rating agency shall cease to be in the business of rating corporate debt obligations, the Company and the Lenders shall negotiate in good faith to amend the references to specific ratings in this definition to reflect such changed rating system or the non-availability of ratings from such rating agency.
Utilization Fee Percentage means (i) on any day prior to Agent's receipt of the Quarterly Financial Statements and Compliance Certificate required by Sections 7.2(b) and 7.2(c) hereof for the fiscal quarter ending December 31, 2003, 0.125% and (ii) on and after the date of delivery of such Quarterly Financial Statements and Compliance Certificate, the applicable per annum percentage set forth at the appropriate intersection in the table shown below, based on the Debt to Capitalization Ratio as of the last day of the most recently ended fiscal quarter of Borrower calculated by Agent as soon as practicable after receipt by Agent of all financial reports required under this Agreement with respect to such fiscal quarter (including a Compliance Certificate) (provided, however, that if the Utilization Fee Percentage is increased as a result of the reported Debt to Capitalization Ratio, such increase shall be retroactive to the date that Borrower was obligated to deliver such financial reports to Agent pursuant to the terms of this Agreement and provided further, however, that if the Utilization Fee Percentage is decreased as a result of the reported Debt to Capitalization Ratio, and such financial reports are delivered to Agent not more than ten (10) calendar days after the date required to be delivered pursuant to the terms of this Agreement, such decrease shall be retroactive to the date that Borrower was obligated to deliver such financial reports to Agent pursuant to the terms of this Agreement) and provided further, however, that if the Borrower consummates an acquisition of another Person or substantially all the assets of another Person or makes an investment in Medusa Spar LLC, then the Utilization Fee Percentage, commencing on the effective date of such acquisition or investment and continuing through and including the date of Agent's receipt of the next Quarterly Financial Statements and Compliance Certificate required by Sections 7.2(b) and 7.2(c), shall be based on the pro forma Debt to Capitalization Ratio calculated after giving effect to such acquisition or investment: DEBT TO CAPITALIZATION RATIO UTILIZATION FEE PERCENTAGE Greater than or equal to 35% 0.125% Less than 35% 0.10%
Utilization Fee Percentage means, as of any date of determination thereof, the applicable percentage used to calculate the Utilization Fee due and payable hereunder, determined by reference to the appropriate column in the Pricing Matrix attached to this Agreement as Schedule 4.1.
Utilization Fee Percentage means for any date the percentage per annum, if any, applicable on such date as set forth in the row labelled "Utilization Fee" on Schedule III hereto, which is based on the ratings (or lack thereof) by Moody's or S&P or both of the public long-term senior unsecured debt securities of the Borrower.