Applicable Facility Fee Margin means, for any period, the applicable of the following percentages in effect with such period based on the Leverage Ratio and the Fixed Charges Coverage Ratio as follows: ======================================================================================================== I II III IV ======================================================================================================== Leverage Ratio is: Less than 15% Greater than or Less than 15% Greater than or equal to 15% equal to 15% -------------------------------------------------------------------------------------------------------- If Fixed Charges Greater than 2:1 Greater than 2:1 Less than or Less than or Coverage Ratio is: equal to 2:1 equal to 2:1 -------------------------------------------------------------------------------------------------------- The applicable margin will be: -------------------------------------------------------------------------------------------------------- Applicable Facility .150% .175% .175% .200% Fee Margin -------------------------------------------------------------------------------------------------------- Applicable .350% .450% .450% .550% Eurodollar Margin ======================================================================================================== The Leverage Ratio and Fixed Charges Coverage Ratio shall be calculated by the Borrower as of the end of each of its Fiscal Quarters commencing December 31, 1996 and shall be reported to the Agent pursuant to a certificate executed by an authorized officer of the Borrower and delivered in accordance with Section 6.1(g) of the Agreement. The foregoing margins shall be adjusted, if necessary, quarterly as of the fifth day after the delivery of the certificate provided for above; provided that if such certificate, together with the financial statements to which such certificate relates, are not delivered by the fifth day after the due date therefor specified in Section 6.1(g), then until the fifth day after such delivery, each of the margins specified above shall be as set forth in Column IV above. Until adjusted as described above after December 31, 1996, the Applicable Eurodollar Margin and Applicable Facility Fee Margin, as the case may be, shall be as specified in Column II above.
Applicable Facility Fee Margin means the applicable percentage set forth below based upon the Level then in effect: Level Margin ----- ------ Level I .050% Level II .060% Level III .070% Level IV .080% Level V .100% Level VI .125% Level VII .200%
Applicable Facility Fee Margin has the meaning ascribed to it by, and shall be determined in accordance with, Schedule 1.
Examples of Applicable Facility Fee Margin in a sentence
In addition, this section applies requirements for very low income housing as established in P.L. 2008, c.46 (the "Roberts Bill").
Such Facility Fee shall be an amount equal to the product of the Commitment of such Bank multiplied by a per annum rate equal to the Applicable Facility Fee Margin.
More Definitions of Applicable Facility Fee Margin
Applicable Facility Fee Margin means the applicable percentage set forth below based upon the Level then in effect:
Applicable Facility Fee Margin means a per annum rate equal to .1% (10 basis points) at all times when the Obligations outstanding hereunder are less than $75,000,000 and (ii) .25% (25 basis points) at all times when the Obligations outstanding hereunder are equal to or greater than $75,000,000.
Applicable Facility Fee Margin means the percentage rate per annum which is applicable at such time as set forth in the Pricing Schedule.
Applicable Facility Fee Margin shall be equal to the percentage set forth in the appropriate column in the definition of "Applicable Margin". "Applicable Margin" (a) from and after the Effective Date to the Restatement Effective Date, for each Eurodollar Loan and for the Facility Fee shall be equal to the percentage set forth in the appropriate column in the first table below, and (b) from and after the Restatement Effective Date, for each Eurodollar Loan, for the Facility Fee and for the Utilization Fee shall be equal to the percentage set forth in the appropriate column in the second table below, in each case relating to Senior Debt ("Debt Rating") from Standard & Poor's and Moody's. In the event any of the Company's Debt Ratings fall in more than one level of the table, the Applicable Margin will be based on the level which includes the higher rating (associated with the less expensive pricing), unless there is a split in Debt Ratings of more than one level, in which case the level that is one level higher than the level corresponding to the lower Debt Rating shall apply. All such ratings shall apply to Senior Debt. The Applicable Margin shall be subject to adjustment (upward or downward, as the case may be), effective as of the date on which Standard & Poor's or Moody's announces a rating change which results in a change in the Applicable Margin. From Effective Date to Restatement Effective Date Level Standard & Poor's Senior Debt Rating Moody's Senior Debt Rating Applicable Facility Fee Margin Applicable Eurodollar Margin Level I AA- or higher Aa3 or higher .055% .115% Level II A+ A1 .060% .125% Level III A A2 .070% .130% Level IV A- A3 .075% .150% Level V BBB+ Baa1 .085% .165% Level VI BBB or lower Baa2 or lower .110% .240% From and After Restatement Effective Date Level Standard & Poor's Senior Debt Rating Moody's Senior Debt Rating Applicable Facility Fee Margin Applicable Utilization Fee Margin Applicable Eurodollar Margin Level I AA- or higher Aa3 or higher .070% .050% .130% Level II A+ A1 .080% .050% .170% Level III A A2 .090% .050% .210% Level IV A- A3 .100% .050% .275% Level V BBB+ Baa1 .125% .100% .425% Level VI BBB or lower Baa2 or lower .150% .100% .500%
Applicable Facility Fee Margin means, on any date (subject to ------------------------------ clauses (b) through (d) of the definition of "Applicable Rating Level"), the applicable margin set forth below based on the Applicable Rating Level on such date: Applicable Rating Level Margin ------------ ------ Level I 0.0700% Level II 0.1250% Level III 0.1750%
Applicable Facility Fee Margin means, for any period, the applicable of the following percentages in effect with such period based on the Leverage Ratio and the Fixed Charges Coverage Ratio as follows: Leverage Ratio is: LESS THAN 15% $15% LESS THAN 15% $15% If Fixed Charges GREATER THAN 2:1 GREATER THAN 2:1 #2:1 #2:1 Coverage Ratio is: The applicable margin will be: Applicable Facility .150% .175% .175% .200% Fee Margin Applicable .350% .450% .450% .550% Eurodollar Margin The Leverage Ratio and Fixed Charges Coverage Ratio shall be calculated by Parent as of the end of each of its Fiscal Quarters commencing September 30, 1997 and shall be reported to the Agent pursuant to a certificate executed by an authorized officer of Parent and delivered in accordance with Section 6.1(g) of the Agreement. The foregoing margins shall be adjusted, if necessary, quarterly as of the fifth day after the delivery of the certificate provided for above; provided that if such certificate, together with the financial statements to which such certificate relates, are not delivered by the fifth day after the due date therefor specified in Section 6.1(g), then until the fifth day after such delivery, each of the margins specified above shall be as set forth in Column IV above. Until adjusted as described above after September 30, 1997, the Applicable Eurodollar Margin and Applicable Facility Fee Margin, as the case may be, shall be as specified in Column II above.
Applicable Facility Fee Margin means, for any period, the applicable of the following percentages in effect with such period based on the Leverage Ratio and the Fixed Charges Coverage Ratio as follows: