Common use of Borrowing Base Utilization Grid Clause in Contracts

Borrowing Base Utilization Grid. Borrowing Base Utilization Percentage ≥ 90% < 90% < 75% < 50% < 25% LIBOR Loans 2.75% 2.50% 2.25% 2.00% 1.75% ABR Loans 1.75% 1.50% 1.25% 1.00% .75% Commitment Fee Rate 0.50% 0.50% 0.50% 0.50% 0.50% Active.18106573.29 provided that (i) 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 and (ii) if for any day during a Borrowing Base Trigger Period, the Leverage Ratio for the applicable Calculation Period is equal to or lower than 3.00 to 1:00, then the rate per annum set forth in the grid of Table 1 shall apply with respect to any ABR Loan or LIBOR Loan, as the case may be.