APPLICABLE CREDIT ENHANCEMENT LETTER OF CREDIT COMMISSION RATE definition

APPLICABLE CREDIT ENHANCEMENT LETTER OF CREDIT COMMISSION RATE means the rate per annum at which the commission due on each Commission Due Date for each Credit Enhancement Letter of Credit will be calculated, which rate shall be determined by reference to the Ratio of Total Funded Debt to EBITDA in accordance with the following table:
Sample 1
APPLICABLE CREDIT ENHANCEMENT LETTER OF CREDIT COMMISSION RATE means the rate per annum at which the commission due on each Commission Due Date for each Credit Enhancement Letter of Credit will be calculated, which rate shall be determined by reference to the Ratio of Total Funded Debt to EBITDA in accordance with the following table: Ratio of Total Applicable Credit Funded Debt Enhancement Letter of To EBITDA Credit Commission Rate -------------- ---------------------- 3.50 and above 1-1/2 % 2.50 to 3.49 1-1/4 % 2.49 and less 1 % The Applicable Credit Enhancement Letter of Credit Commission Rate shall be determined on the First Amendment Execution Date on the basis of the Ratio of Total Funded Debt to EBITDA in effect on the First Amendment Execution Date (which the Company and the Bank agree for purposes of the Applicable Credit Enhancement Letter of Credit Commission Rate was 3.4 as of First Amendment Execution Date) and shall be redetermined and adjusted as of the close of each fiscal quarter of the Company thereafter, concurrently with any adjustment to the Ratio of Total Funded Debt to EBITDA (as provided in the definition of Ratio of Total Funded Debt to EBITDA in this Agreement), with such redetermined Applicable Credit Enhancement Letter of Credit Commission Rate to be effective for the entire fiscal quarter of the Company which immediately follows each such fiscal quarter."
Sample 1
APPLICABLE CREDIT ENHANCEMENT LETTER OF CREDIT COMMISSION RATE means the rate per annum at which the commission due on each Commission Due Date for each Credit Enhancement Letter of Credit will be calculated, which rate shall be determined by reference to the Ratio of Total Funded Debt to EBITDA in accordance with the following table: Ratio of Total Applicable Credit Funded Debt Enhancement Letter of To EBITDA Credit Commission Rate --------- ---------------------- 5.01 and above 3 1/4% 4.51 to 5.00 3% 4.01 to 4.50 2 3/4% 3.50 to 4.00 2 1/2% 3.00 to 3.49 2 1/4% 2.50 to 2.99 2% 2.49 and less 1 3/4% The Applicable Credit Enhancement Letter of Credit Commission Rate shall be determined on the First Amendment Effective Date on the basis of the Ratio of Total Funded Debt to EBITDA in effect on the First Amendment Effective Date (which the Company and the Bank agree for purposes of the Applicable Credit Enhancement Letter of Credit Commission Rate was above 5.01 as of the First Amendment Effective Date) and shall be redetermined and adjusted as of the close of each fiscal quarter of the Company thereafter, concurrently with any adjustment to the Ratio of Total Funded Debt to EBITDA (as provided in the definition of Ratio of Total Funded Debt to EBITDA in this Agreement), with such redetermined Applicable Credit Enhancement Letter of Credit Commission Rate to be effective for the entire fiscal quarter of the Company which immediately follows each such fiscal quarter.
Sample 1

More Definitions of APPLICABLE CREDIT ENHANCEMENT LETTER OF CREDIT COMMISSION RATE

APPLICABLE CREDIT ENHANCEMENT LETTER OF CREDIT COMMISSION RATE means the rate per annum at which the commission due on each Commission Due Date for each Credit Enhancement Letter of Credit will be calculated, which rate shall be determined by reference to the Ratio of Total Funded Debt to EBITDA in accordance with the following table: Ratio of Total Applicable Credit Funded Debt Enhancement Letter of To EBITDA Credit Commission Rate --------- ---------------------- 3.00 and above 1 1/4% 2.50 to 2.99 1 1/4% 2.00 to 2.49 1% 1.50 to 1.99 1% 1.00 to 1.49 3/4% less than 1.00 3/4% The Applicable Credit Enhancement Letter of Credit Commission Rate shall be determined on the Closing Date on the basis of the Ratio of Total Funded Debt to EBITDA in effect on the Closing Date (which the Company and the Bank agree for purposes of the Applicable Credit Enhancement Letter of Credit Commission Rate shall be between 2.50 and 2.99 as of the Closing Date) and shall be redetermined and adjusted as of the close of each fiscal quarter of the Company thereafter, concurrently with any adjustment to the Ratio of Total Funded Debt to EBITDA (as provided in the definition of Ratio of Total Funded Debt to EBITDA in this Agreement), with such redetermined Applicable Credit Enhancement Letter of Credit Commission Rate to be effective for the entire fiscal quarter of the Company which immediately follows each such fiscal quarter.
Sample 1
APPLICABLE CREDIT ENHANCEMENT LETTER OF CREDIT COMMISSION RATE means the rate per annum at which the commission due on each Commission Due Date for each Credit Enhancement Letter of Credit will be calculated, which rate shall be determined by reference to the Ratio of Total Funded Debt to EBITDA in accordance with the following table: Ratio of Total Applicable Credit Funded Debt Enhancement Letter of To EBITDA Credit Commission Rate -------------- ----------------------
Sample 1

Related to APPLICABLE CREDIT ENHANCEMENT LETTER OF CREDIT COMMISSION RATE

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $10,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank’s Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Letter of Credit Commitment means, with respect to any Issuing Bank at any time, the amount set forth opposite such Issuing Bank’s name on Schedule I hereto under the caption “Letter of Credit Commitment” or, if such Issuing Bank has entered into one or more Assignment and Acceptances, set forth for such Issuing Bank in the Register maintained by the Administrative Agent pursuant to Section 9.07(d) as such Issuing Bank’s “Letter of Credit Commitment”, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Letter of Credit Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.

  • Unused Letter of Credit Subfacility means an amount equal to the Letter of Credit Subfacility minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate Unpaid Drawings obligations with respect to a Letters of Credit.

  • Applicable Letter of Credit Fee Rate means, at any time, with respect to Letters of Credit, the percentage rate per annum which is applicable at such time as set forth in the Pricing Schedule.

  • Applicable Letter of Credit Fee Rate shall mean the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Letter of Credit Fee.” Applicable Margin shall mean, as applicable:

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

  • Credit Enhancement Percentage For any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the sum of the aggregate Certificate Principal Balances of the Mezzanine Certificates and the Class CE Certificates, and the denominator of which is the aggregate Stated Principal Balance of the Mortgage Loans, calculated after taking into account distributions of principal on the Mortgage Loans and distribution of the Principal Distribution Amount to the Certificates then entitled to distributions of principal on such Distribution Date.

  • Letter of Credit Undrawn Amounts means, at any time, the aggregate undrawn face amount of all Letters of Credit outstanding at such time.

  • Revolving Facility Credit Exposure means, at any time, the sum of (a) the aggregate principal amount of the Revolving Facility Loans outstanding at such time, (b) the Swingline Exposure at such time and (c) any Revolving L/C Exposure at such time. The Revolving Facility Credit Exposure of any Lender at any time shall be the product of (x) such Lender’s Revolving Facility Percentage and (y) the aggregate Revolving Facility Credit Exposure of all Lenders, collectively, at such time.

  • Class A Liquidity Facility has the meaning set forth in the Intercreditor Agreement.

  • Letter of Credit Exposure means, at any time, the sum of (a) the aggregate undrawn maximum face amount of each Letter of Credit at such time plus (b) the aggregate unpaid amount of all Reimbursement Obligations at such time.

  • LC Commitment Amount means $600,000,000 as the same may be reduced permanently from time to time pursuant to Section 2.08.

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Agent maintained at the office of the Agent at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Tower Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • Alternative Currency Letter of Credit means a Letter of Credit denominated in an Alternative Currency.

  • Facility Letter of Credit means a Letter of Credit issued hereunder.

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Letter of Credit Fee has the meaning specified in Section 2.03(h).

  • Letter of Credit Fee Rate means, at any time, the percentage rate per annum applicable to Letter of Credit Fees at such time as set forth in the Pricing Schedule.