Common use of Percentage Clause in Contracts

Percentage. XXXXX 0 A+ or better by S&P A1 or better by Xxxxx’x .045% LEVEL 2 A by S&P A2 by Xxxxx’x .050% LEVEL 3 A- by S&P A3 by Xxxxx’x .060% XXXXX 0 BBB+ by S&P Baa1 by Xxxxx’x .070% LEVEL 5 BBB or lower by S&P Baa2 or lower by Xxxxx’x .090% For purposes hereof, (i) if the ratings established (or deemed to have been established, as provided in clause (ii) below) by Xxxxx’x and S&P shall fall within different Levels, the rating in the inferior Level shall be disregarded, unless one of the ratings is below Level 4, in which case the Applicable Facility Fee Percentage will be based on the inferior of the two Levels, (ii) if Xxxxx’x or S&P shall not have in effect a rating for Index Debt (other than (a) because such rating agency shall no longer be in the business of rating corporate debt obligations or (b) as a result of a change in the rating system of Xxxxx’x or S&P), then such rating agency will be deemed to have established a rating for Index Debt in Level 5 and (iii) if any rating established (or deemed to have been established, as provided in clause (ii) above) by Xxxxx’x or S&P shall be changed (other than as a result of a change in the rating system of Xxxxx’x or S&P), such change shall be effective as of the date on which it is first publicly announced by the applicable rating agency. Each change in the Applicable Facility 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 Xxxxx’x 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 Banks (acting through the Syndication Agents) 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.

Percentage. XXXXX 0 A+ Level 1 AA or better by S&P A1 Aa2 or better by Xxxxx’x .0450.040% LEVEL 2 Xxxxx 0 XX- by S&P Aa3 by Xxxxx’x 0.050% Xxxxx 0 A+ by S&P A1 by Xxxxx’x 0.060% Level 4 A by S&P A2 by Xxxxx’x .0500.075% LEVEL 3 Level 5 A- by S&P A3 by Xxxxx’x .0600.100% XXXXX Xxxxx 0 BBB+ by S&P Baa1 by Xxxxx’x .0700.125% LEVEL 5 Level 7 BBB by S&P Baa2 by Xxxxx’x 0.150% Xxxxx 0 XXX- by S&P Baa3 by Xxxxx’x 0.200% Level 9 BB+ or lower by S&P Baa2 Ba1 or lower by Xxxxx’x .0900.300% For purposes hereof, (i) if the ratings established (or deemed to have been established, as provided in clause (ii) below) by Xxxxx’x and S&P shall fall within different Levels, the rating in the inferior applicable Level shall be disregarded, unless one the category in which the higher of the ratings is below Level 4shall fall unless the ratings differ by two or more Levels, in which case the Applicable Facility Fee Percentage will applicable Level shall be based on the inferior of next Level below that corresponding to the two Levelshigher rating, (ii) if Xxxxx’x or S&P shall not have in effect a rating for Index Debt (other than (a) because such rating agency shall no longer be in the business of rating corporate debt obligations or (b) as a result of a change in the rating system of Xxxxx’x or S&P), then such rating agency will be deemed to have established a rating for Index Debt in Level 5 9 and (iii) if any rating established (or deemed to have been established, as provided in clause (ii) above) by Xxxxx’x or S&P shall be changed (other than as a result of a change in the rating system of Xxxxx’x or S&P), such change shall be effective as of the date on which it is first publicly announced by the applicable rating agency. Each change in the Applicable Facility 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 Xxxxx’x 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 Banks (acting through the Syndication AgentsAdministrative Agent) 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.

Percentage. XXXXX 0 A+ AA-/Aa3 or better by S&P A1 above .1000% Category 2 ---------- A+/A1 .1425% Category 3 ---------- A/A2 .1900% Category 4 ---------- A-/A3 .4350% Category 5 ---------- BBB/Baa2 .6600% Category 6 ---------- BBB-/Baa3 or better by Xxxxx’x .045% LEVEL 2 A by S&P A2 by Xxxxx’x .050% LEVEL 3 A- by S&P A3 by Xxxxx’x .060% XXXXX 0 BBB+ by S&P Baa1 by Xxxxx’x .070% LEVEL 5 BBB or lower by S&P Baa2 or lower by Xxxxx’x .090below .8600% For purposes hereofof the foregoing, (i) if neither Xxxxx'x nor S&P shall have in effect a rating for any Index Debt (other than by reason of the circumstances referred to in the last sentence of this definition), then both such rating agencies shall be deemed to have established ratings for such Index Debt in Category 6; (ii) if only one of Xxxxx'x and S&P shall have in effect a rating for any Index Debt, then the Applicable Margin, to the extent determined by reference to such Index Debt, shall be determined on the basis of such rating; (iii) if the ratings established (or deemed to have been established, as provided in clause (ii) below) established by Xxxxx’x and Xxxxx'x or S&P for any Index Debt shall fall within different LevelsCategories, the rating in the inferior Level Applicable Margin shall be disregarded, based on the Category corresponding to the higher rating unless one of the ratings is below Level 4differ by two or more Categories, in which case the Applicable Facility Fee Percentage Margin will be based on upon the inferior of Category one level above the two Levels, (ii) if Xxxxx’x or S&P shall not have in effect a rating for Index Debt (other than (a) because such rating agency shall no longer be in Category corresponding to the business of rating corporate debt obligations or (b) as a result of a change in the rating system of Xxxxx’x or S&P), then such rating agency will be deemed to have established a rating for Index Debt in Level 5 lower rating; and (iiiiv) if any rating established (or deemed to have been established, as provided in clause (ii) above) established by Xxxxx’x Xxxxx'x or S&P shall be changed (other than as a result of a change in the rating system of Xxxxx’x Xxxxx'x or S&P), such change shall be effective as of the date on which it is first publicly announced by the applicable rating agency. Each change in the Applicable Facility Fee Percentage Margin 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 Xxxxx’x Xxxxx'x or S&P shall change, or if either any such rating agency shall cease to be in the business of rating corporate debt obligations, the Company Alcoa and the Banks (acting through the Syndication Agents) 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, and pending the effectiveness of any such amendment, the ratings of such rating agency most recently in effect prior to such change or cessation shall be employed in determining the Applicable Margin.

Percentage. XXXXX 0 A+ AA-/Aa3 or better by S&P A1 above .0750% Category 2 ---------- A+/A1 .1225% Category 3 ---------- A/A2 .1700% Category 4 ---------- A-/A3 .4150% Category 5 ---------- BBB/Baa2 .6350% Category 6 ---------- BBB-/Baa3 or better by Xxxxx’x .045% LEVEL 2 A by S&P A2 by Xxxxx’x .050% LEVEL 3 A- by S&P A3 by Xxxxx’x .060% XXXXX 0 BBB+ by S&P Baa1 by Xxxxx’x .070% LEVEL 5 BBB or lower by S&P Baa2 or lower by Xxxxx’x .090below .8350% For purposes hereofof the foregoing, (i) if neither Xxxxx'x nor S&P shall have in effect a rating for any Index Debt (other than by reason of the circumstances referred to in the last sentence of this definition), then both such rating agencies shall be deemed to have established ratings for such Index Debt in Category 6; (ii) if only one of Xxxxx'x and S&P shall have in effect a rating for any Index Debt, then the Applicable Margin, to the extent determined by reference to such Index Debt, shall be determined on the basis of such rating; (iii) if the ratings established (or deemed to have been established, as provided in clause (ii) below) established by Xxxxx’x and Xxxxx'x or S&P for any Index Debt shall fall within different LevelsCategories, the rating in the inferior Level Applicable Margin shall be disregarded, based on the Category corresponding to the higher rating unless one of the ratings is below Level 4differ by two or more Categories, in which case the Applicable Facility Fee Percentage Margin will be based on upon the inferior of Category one level above the two Levels, (ii) if Xxxxx’x or S&P shall not have in effect a rating for Index Debt (other than (a) because such rating agency shall no longer be in Category corresponding to the business of rating corporate debt obligations or (b) as a result of a change in the rating system of Xxxxx’x or S&P), then such rating agency will be deemed to have established a rating for Index Debt in Level 5 lower rating; and (iiiiv) if any rating established (or deemed to have been established, as provided in clause (ii) above) established by Xxxxx’x Xxxxx'x or S&P shall be changed (other than as a result of a change in the rating system of Xxxxx’x Xxxxx'x or S&P), such change shall be effective as of the date on which it is first publicly announced by the applicable rating agency. Each change in the Applicable Facility Fee Percentage Margin 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 Xxxxx’x Xxxxx'x or S&P shall change, or if either any such rating agency shall cease to be in the business of rating corporate debt obligations, the Company Alcoa and the Banks (acting through the Syndication Agents) 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, and pending the effectiveness of any such amendment, the ratings of such rating agency most recently in effect prior to such change or cessation shall be employed in determining the Applicable Margin.

Percentage. XXXXX 0 A+ Category 1 AA-/Aa3 or better by S&P A1 above .0900 % Category 2 A+/A1 .1350 % Category 3 A/A2 .1800 % Category 4 X-/X0 .0000 % Category 5 BBB/Baa2 .5500 % Category 6 BBB-/Baa3 or better by Xxxxx’x .045% LEVEL 2 A by S&P A2 by Xxxxx’x .050% LEVEL 3 A- by S&P A3 by Xxxxx’x .060% XXXXX 0 BBB+ by S&P Baa1 by Xxxxx’x .070% LEVEL 5 BBB or lower by S&P Baa2 or lower by Xxxxx’x .090below .6000 % For purposes hereofof the foregoing, (i) if neither Moody’s nor S&P shall have in effect a rating for any Index Debt (other than by reason of the circumstances referred to in the last sentence of this definition), then both such rating agencies shall be deemed to have established ratings for such Index Debt in Category 6; (ii) if only one of Moody’s and S&P shall have in effect a rating for any Index Debt, then the Applicable Margin shall be determined on the basis of such rating; (iii) if the ratings established (or deemed to have been established, as provided in clause (ii) below) established by Xxxxx’x and Moody’s or S&P for any Index Debt shall fall within different LevelsCategories, the rating in the inferior Level Applicable Margin shall be disregarded, based on the Category corresponding to the higher rating unless one of the ratings is below Level 4differ by two or more Categories, in which case the Applicable Facility Fee Percentage Margin will be based on upon the inferior of Category one level above the two Levels, (ii) if Xxxxx’x or S&P shall not have in effect a rating for Index Debt (other than (a) because such rating agency shall no longer be in Category corresponding to the business of rating corporate debt obligations or (b) as a result of a change in the rating system of Xxxxx’x or S&P), then such rating agency will be deemed to have established a rating for Index Debt in Level 5 lower rating; and (iiiiv) if any rating established (or deemed to have been established, as provided in clause (ii) above) established by Xxxxx’x Moody’s or S&P shall be changed (other than as a result of a change in the rating system of Xxxxx’x Moody’s or S&P), such change shall be effective as of the date on which it is first publicly announced by the applicable rating agency. Each change in the Applicable Facility Fee Percentage Margin 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 Xxxxx’x Moody’s or S&P shall change, or if either any such rating agency shall cease to be in the business of rating corporate debt obligations, the Company Alcoa and the Banks (acting through the Syndication Agents) 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, and pending the effectiveness of any such amendment, the ratings of such rating agency most recently in effect prior to such change or cessation shall be employed in determining the Applicable Margin.