Common use of Borrowing Base Utilization Grid Clause in Contracts

Borrowing Base Utilization Grid. Borrowing Base Utilization Percentage ≥ 90% < 90% but ≥ 75% < 75% but ≥ 25% < 25% LIBOR Loans 4.00% 3.75% 3.50% 3.25% ABR Loans 3.00% 2.75% 2.50% 2.25% Commitment Fee Rate 0.50% 0.50% 0.50% 0.50% provided that if for any day during a Borrowing Base Trigger Period, with respect to any ABR Loan or LIBOR Loan, as the case may be, the rate per annum set forth in the grid of Table 2 is lower than the rate per annum set forth in the grid of Table 1, the rate per annum set forth in the grid of Table 1 shall apply.