Applicable Commitment Fee Rate; Applicable Margin definition

Applicable Commitment Fee Rate; Applicable Margin means, on and after the receipt of confirmation of the Long Term Debt Rating, the percentages set forth below, determined based on the applicable Level set forth in this definition: Applicable Margin Level: Term SOFR Advances Base Rate Advances Applicable Commitment Fee Rate Level I: 1.125% 0.125% 0.125% Level II: 1.25% 0.25% 0.175% Level III: 1.50% 0.50% 0.225% Level IV 1.75% 0.75% 0.275% Level V 2.00% 1.00% 0.350% The Applicable Commitment Fee Rate and Applicable Margin shall be adjusted ten (10) Business Days after any change in ratings that would require such adjustment. For purposes of this definition, the Levels shall be defined and determined as follows: Level I shall apply if the Borrower’s Long Term Debt Rating is A- or better (S&P), A3 or better (Moody’s) and A- or better (Fitch). Level II shall apply if the Borrower’s Long Term Debt Rating is BBB+ (S&P), Baa1 (Moody’s) and BBB+ (Fitch), but no numerically lower Level applies. Level III shall apply if the Borrower’s Long Term Debt Rating is BBB (S&P), Baa2 (Moody’s) and BBB (Fitch), but no numerically lower Level applies. Level IV shall apply if the Borrower’s Long Term Debt Rating is BBB- (S&P), Baa3 (Moody’s) and BBB- (Fitch), but no numerically lower Level applies. Level V shall apply if the Borrower’s Long Term Debt Rating is BB+ or below (S&P), Ba1 or below (Moody’s) or BB+ or below (Fitch). If the ratings established or deemed to have been established by S&P, Xxxxx’x, and Fitch for the Borrower are different by one Level, the Level with two out of the three Senior Unsecured Debt Ratings falling thereunder shall apply. If the ratings differ by more than one Level and if the rating is the same by two rating agencies and the third agency rating is lower, then the higher rating shall govern and otherwise, the governing rating shall be the rating next below the highest of the three. If the Borrower is not rated by S&P, Moody’s or Fitch, then the rate shall be established by reference to Level V.
Sample 1
Applicable Commitment Fee Rate; Applicable Margin means the following:
Sample 1
Applicable Commitment Fee Rate; Applicable Margin means the percentages set forth below, determined based on the applicable Level: Applicable Margin Applicable LIBOR Base Rate Commitment Level: Advances Advances Fee Rate Level I: 0.750 % 0.0 % 0.150 % Level II: 1.000 % 0.0 % 0.200 % Level III: 1.250 % 0.0 % 0.225 % Level IV: 1.500 % 0.0 % 0.250 % Level V: 1.750 % 0.250 % 0.275 % The Applicable Commitment Fee Rate and Applicable Margin shall be those shown for Level III as of the date of this Agreement. The Applicable Commitment Fee Rate and Applicable Margin shall be adjusted ten (10) Business Days after receipt of the Compliance Certificate and quarterly financial statements of the Borrower, commencing with the Compliance Certificate and quarterly financial statement for the quarter ending December 31, 2007, based on calculation of the Adjusted Cash Flow Leverage Ratio in such Compliance Certificate, and shall remain in effect until the next-following Compliance Certificate and quarterly financial statements so delivered to the Agent. In the event that the Borrower has not submitted quarterly financial statements or a Compliance Certificate as required by Sections 8.1(b) and (c), from the date such quarterly financial statements and Compliance Certificate are required until they are delivered, the Applicable Commitment Fee Rate and the Applicable Margin shall be the highest percentage specified above until such time as a Compliance Certificate and such financial statements are delivered, after which time the Applicable Commitment Fee Rate and the Applicable Margin for each type of Loan shall be readjusted to the rate applicable to the Adjusted Cash Flow Leverage Ratio calculated on such Compliance Certificate. For purposes of the foregoing, the Levels shall be defined and determined as follows: Level I shall apply if the Adjusted Cash Flow Leverage Ratio is less than or equal to 1.00 to 1.00. Level II shall apply if the Adjusted Cash Flow Leverage Ratio is greater than 1.00 to 1.00 but less than or equal to 1.50 to 1.00. Level III shall apply if the Adjusted Cash Flow Leverage Ratio is greater than 1.50 to 1.00 but less than or equal to 2.00 to 1.00. Level IV shall apply if the Adjusted Cash Flow Leverage Ratio is greater than 2.00 to 1.00 but less than or equal to 2.50 to 1.00. Level V shall apply if the Adjusted Cash Flow Leverage Ratio is greater than 2.50 to 1.0.
Sample 1

More Definitions of Applicable Commitment Fee Rate; Applicable Margin

Applicable Commitment Fee Rate; Applicable Margin means, on and after the receipt of confirmation of the Long Term Debt Rating, the percentages set forth below, determined based on the applicable Level set forth in this definition: Applicable MarginApplicable Commitment Level: The Applicable Commitment Fee Rate and Applicable Margin shall be adjusted ten (10) Business Days after any change in ratings that would require such adjustment. For purposes of this definition, the Levels shall be defined and determined as follows: Level I shall apply if the Borrower’s Long Term Debt Rating is A- or better (S&P), A3 or better (Moody’s) and A- or better (Fitch). Level II shall apply if the Borrower’s Long Term Debt Rating is BBB+ (S&P), Baa1 (Moody’s) and BBB+ (Fitch), but no numerically lower Level applies.Level III shall apply if the Borrower’s Long Term Debt Rating is BBB (S&P), Baa2 (Moody’s) and BBB (Fitch), but no numerically lower Level applies. Level IV shall apply if the Borrower’s Long Term Debt Rating is BBB- (S&P), Baa3 (Moody’s) and BBB- (Fitch), but no numerically lower Level applies. Level V shall apply if the Borrower’s Long Term Debt Rating is BB+ or below (S&P), Ba1 or below (Moody’s) or BB+ or below (Fitch).If the ratings established or deemed to have been established by S&P, Moody’s, and Fitch for the Borrower are different by one Level, the Level with two out of the three Senior Unsecured Debt Ratings falling thereunder shall apply. If the ratings differ by more than one Level and if the rating is the same by two rating agencies and the third agency rating is lower, then the higher rating shall govern and otherwise, the governing rating shall be the rating next below the highest of the three. If the Borrower is not rated by S&P, Moody’s or Fitch, then the rate shall be established by reference to Level V.
Sample 1

Related to Applicable Commitment Fee Rate; Applicable Margin

  • Applicable Commitment Fee Margin means, for each Pricing Period, the margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: Applicable Pricing Level Margin II 10.0 V 17.5

  • Applicable Commitment Fee Rate means:

  • Applicable Margin means, with respect to Advances of any Type at any time, the percentage rate per annum which is applicable at such time with respect to Advances of such Type as set forth in the Pricing Schedule.

  • Applicable Unused Commitment Fee Rate means 0.50% per annum.

  • Applicable Commitment Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.15(C)(i) hereof determined in accordance with the provisions of Section 2.15(D)(ii) hereof.

  • Applicable Eurodollar Rate Margin means, with respect to any Eurodollar Rate Advance, for each Pricing Period, the interest rate margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: Applicable Pricing Level Margin I 52.50 II 62.50 III 72.50 IV 82.50 V 92.50

  • Applicable Facility Fee Rate means, at any time, the percentage rate per annum at which Facility Fees are accruing on the Aggregate Commitment (without regard to usage) at such time as set forth in the Pricing Schedule.

  • Applicable LIBOR Rate Margin means the following per annum percentages, applicable in the following situations:

  • Commitment Fee Rate has the meaning set forth in the definition of “Applicable Margin”.

  • Base Rate Margin means a rate per annum determined in accordance with the Pricing Schedule.

  • LIBOR Rate Margin has the meaning set forth in the definition of Applicable Margin.

  • Facility Fee Rate means a rate per annum determined in accordance with the Pricing Schedule.

  • Applicable Margins means collectively the Applicable Revolver Index Margin, the Applicable Term Loan Index Margin, the Applicable Revolver LIBOR Margin and the Applicable Term Loan LIBOR Margin.

  • Unused Commitment Fee Rate has the meaning given to such term in the Fee Letter.

  • Applicable Unused Line Fee Margin means the per annum fee, from time to time in effect, payable in respect of Borrowers’ non-use of committed funds pursuant to Section 1.9(b), which fee is determined by reference to Section 1.5(a).

  • Eurodollar Rate Margin means the margin over the Eurodollar Rate used in determining the rate of interest of Eurodollar Rate Loans pursuant to subsection 2.2A.

  • Applicable Base Rate Margin means, with respect to ABR Loans of any Series at any time, the percentage rate per annum specified as the “Applicable Base Rate Margin” for such Series at such time, as determined pursuant to the Pricing Schedule.

  • Applicable ABR Margin means, at any date:

  • Applicable Prime Rate Margin shall have the meaning provided in section 2.7(g).

  • LIBOR Applicable Margin means, as of any date with respect to any LIBOR Interest Period, the Applicable Margin in effect for such LIBOR Interest Period as determined in accordance with Section 2.4 hereof.

  • Applicable Utilization Fee Rate means, as of any date, the percentage rate per annum at which Utilization Fees accrue on all Revolving Credit Advances at such time as set forth in the Pricing Schedule.

  • LIBOR Margin has the meaning given that term in Section 2.2.(c)(ii)(D).

  • Applicable LIBOR Margin means a per annum rate of interest payable in addition to the LIBOR Rate on LIBOR Rate Loans, determined by reference to Section 1.6.

  • Applicable Interest Rate Margin means (a) as to any Base Rate Advance, the applicable rate per annum set forth below under the caption “Base Rate Spread” and (b) as to any LIBO Rate Advance, the applicable rate per annum set forth below under the caption “LIBO Rate Spread”, determined by reference to the higher of (i) the rating of Mondelēz’s long-term senior unsecured Debt from Standard & Poor’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Mondelēz, the long-term company, issuer or similar rating established by Standard & Poor’s for Mondelēz) and (ii) the rating of Mondelēz’s long-term senior unsecured Debt from Moody’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Mondelēz, the long-term company, issuer or similar rating established by Moody’s for Mondelēz), in each case on such date: Rating Base Rate Spread LIBO Rate Spread A or higher by Standard & Poor’s A2 or higher by Moody’s 0.000 % 0.835 % A- by Standard & Poor’s A3 by Moody’s 0.000 % 0.940 % BBB+ by Standard & Poor’s Baa1 by Moody’s 0.045 % 1.045 % BBB by Standard & Poor’s Baa2 by Moody’s 0.150 % 1.150 % Lower than BBB by Standard & Poor’s Lower than Baa2 by Moody’s 0.250 % 1.250 % provided that if on any date of determination (x) a rating is available on such date from only one of Standard & Poor’s and Moody’s but not the other, the Applicable Interest Rate Margin shall be determined by reference to the then available rating; (y) no rating is available from either of Standard & Poor’s or Moody’s, the Applicable Interest Rate Margin shall be determined by reference to the rating of any other nationally recognized statistical rating organization designated by Mondelēz and approved in writing by the Required Lenders and (z) no rating is available from any of Standard & Poor’s, Moody’s or any other nationally recognized statistical rating organization designated by Mondelēz and approved in writing by the Required Lenders, the Applicable Interest Rate Margin shall be 0.250% as to any Base Rate Advance and 1.250% as to any LIBO Rate Advance.

  • Applicable Facility Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.14(C)(i) hereof determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • Applicable Eurodollar Margin means, as at any date of determination, the rate per annum then applicable to Eurodollar Rate Loans determined in accordance with the provisions of Section 2.15(D)(ii) hereof.