Common use of Pricing Schedule Clause in Contracts

Pricing Schedule. The Applicable Margin with respect to each Type and Class of Advance, the Letters of Credit and the Commitment Fees shall be determined in accordance with the following table based on the Parent’s Debt Rating. Adjustments, if any, to such Applicable Margin shall be effective on the date of a publicly announced change in a Debt Rating and ending on the date immediately preceding the effective date of the next such change. Revolving Credit Facility Applicable Margin Debt Rating Eurodollar Margin Base Rate Margin Commitment Fee Level I BBB+/Baa1 1.25 % 0.25 % 0.175 % Level II BBB/Baa2 1.50 % 0.50 % 0.200 % Level III BBB-/Baa3 1.75 % 0.75 % 0.250 % Level IV BB+/Ba1 2.00 % 1.00 % 0.300 % Level V BB/Ba2 2.25 % 1.25 % 0.400 %

Appears in 2 contracts

Samples: Credit Agreement (Rowan Companies PLC), Credit Agreement (Rowan Companies PLC)

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Pricing Schedule. The Applicable Margin with respect to each Type and Class of Advance, the Letters of Credit and the Commitment Fees shall be determined in accordance with the following table based on the Parent’s Borrower's Debt Rating. Adjustments, if any, to such Applicable Margin shall be effective on the date of a publicly announced change in a Debt Rating and ending on the date immediately preceding the effective date of the next such change. Revolving Credit Facility Applicable Margin Debt Rating Eurodollar Margin Base Rate Margin Commitment Fee Level I BBB+/Baa1 1.25 1.25% 0.25 0.25% 0.175 0.175% Level II BBB/Baa2 1.50 1.50% 0.50 0.50% 0.200 0.200% Level III BBB-/Baa3 1.75 1.75% 0.75 0.75% 0.250 0.250% Level IV BB+/Ba1 2.00 2.00% 1.00 1.00% 0.300 0.300% Level V BB/Ba2 2.25 2.25% 1.25 1.25% 0.400 0.400%

Appears in 1 contract

Samples: Credit Agreement (Rowan Companies Inc)

Pricing Schedule. The Applicable Margin with respect to each Type and Class of Advance, the Letters of Credit and the Commitment Fees shall be determined in accordance with the following table based on the ParentBorrower’s Debt Rating. Adjustments, if any, to such Applicable Margin shall be effective on the date of a publicly announced change in a Debt Rating and ending on the date immediately preceding the effective date of the next such change. Revolving Credit Facility Applicable Margin Debt Rating Eurodollar Margin Base Rate Margin Commitment Fee Level I BBB+/Baa1 1.25 or higher 1.125 % 0.25 0.125 % 0.175 0.125 % Level II BBB/Baa2 1.50 1.250 % 0.50 0.250 % 0.200 0.150 % Level III BBB-/Baa3 1.75 1.500 % 0.75 0.500 % 0.250 0.225 % Level IV BB+/Ba1 2.00 1.750 % 1.00 0.750 % 0.300 0.275 % Level V BB/Ba2 2.25 or lower 2.000 % 1.25 1.000 % 0.400 0.350 %

Appears in 1 contract

Samples: Credit Agreement (Rowan Companies PLC)

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Pricing Schedule. The Applicable Margin with respect to each Type and Class of Advance, the Letters of Credit and the Commitment Fees shall be determined in accordance with the following table based on the Parent’s Borrower's Debt Rating. Adjustments, if any, to such Applicable Margin shall be effective on the date of a publicly announced change in a Debt Rating and ending on the date immediately preceding the effective date of the next such change. Revolving Credit Facility Term Loan Facility Applicable Margin Debt Rating Eurodollar Margin Base Rate Margin Eurodollar Margin Base Rate Margin Commitment Fee Level I BBB+/Baa1 1.25 2.000 % 0.25 1.000 % 0.175 2.000 % 1.000 % 0.250 % Level II BBB/Baa2 1.50 2.250 % 0.50 1.250 % 0.200 2.250 % 1.250 % 0.350 % Level III BBB-/Baa3 1.75 2.375 % 0.75 1.375 % 0.250 2.375 % 1.375 % 0.450 % Level IV BB+/Ba1 2.00 2.750 % 1.00 1.750 % 0.300 2.750 % 1.750 % 0.600 % Level V BB/Ba2 2.25 3.000 % 1.25 2.000 % 0.400 3.000 % 2.000 % 0.750 %

Appears in 1 contract

Samples: Credit Agreement (Rowan Companies Inc)

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