Applicable Facility Fee Rate definition
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 Facility Fee Rate means:
Applicable Facility Fee Rate means, at any time, the percentage determined in accordance with the Pricing Schedule at such time. The Applicable Facility Fee Rate shall change as and when a Debt Rating changes.
Examples of Applicable Facility Fee Rate in a sentence
If the Company fails to deliver the Financials to the Administrative Agent at the time required pursuant to Section 6.1(i) or 6.1(ii), as applicable, then the adjustment to the Applicable Margin and Applicable Facility Fee Rate shall be the highest adjustment to the Applicable Margin and Applicable Facility Fee Rate set forth in the foregoing table until the fifth (5th) Business Day following the date such Financials are so delivered.
The Applicable Margin and Applicable Facility Fee Rate shall be determined in accordance with the foregoing table based on the Debt Ratings from time to time.
Adjustments, if any, to the Applicable Margin or Applicable Facility Fee Rate shall be effective as of the fifth (5th) Business Day following the date the Administrative Agent has received the applicable Financials.
The facility fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Facility Fee Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Facility Fee Rate separately for each period during such quarter that such Applicable Facility Fee Rate was in effect.
If any change in Credit Rating occurs during an Interest Period, the new Eurodollar Applicable Margin, Applicable Facility Fee Rate and Applicable Utilization Fee Rate shall become effective from the date of the public announcement.
More Definitions of Applicable Facility Fee Rate
Applicable Facility Fee Rate has the meaning set forth in Section 2.07(a).
Applicable Facility Fee Rate means, for any date, a percentage per annum equal to the percentage set forth below 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: A or higher by Standard & Poor’s A2 or higher by Moody’s 0.070 % A- by Standard & Poor’s A3 by Moody’s 0.085 % BBB+ by Standard & Poor’s Baa1 by Moody’s 0.100 % BBB by Standard & Poor’s Baa2 by Moody’s 0.125 % Lower than BBB by Standard & Poor’s Lower than Baa2 by Moody’s 0.200 % 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 Facility Fee Rate 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 Facility Fee Rate 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 Facility Fee Rate shall be 0.200%.
Applicable Facility Fee Rate means, at any time, the percentage rate per annum at which Facility Fees are accruing on the Aggregate Commitment at such time as set forth in the Pricing Schedule.
Applicable Facility Fee Rate means, for each Borrower for any day, the percentage per annum set forth below in effect on such day, determined on the basis of the Applicable Rating Level of NU: Facility Fee Applicable Rating Level (NU) Percentage (%) Level I 0.175 Level II 0.200 Level III 0.250 Level IV 0.300 Level V 0.500 Any change in the Applicable Facility Fee Rate caused by a change in the Applicable Rating Level shall take effect at the time such change in the Applicable Rating Level shall occur.
Applicable Facility Fee Rate means, for any day, at such times as a rating (either express or implied) by S&P, ▇▇▇▇▇’▇ or Fitch is in effect on the Company’s non-credit enhanced senior unsecured long-term debt, the percentage per annum set forth opposite such debt rating: Debt Rating (S&P and Fitch/Moody’s) Percentage A-/A3 or above 0.100 % BBB+/Baa1 0.125 % BBB/Baa2 0.150 % BBB-/Baa3 0.225 % BB+/Ba1 0.275 % BB/Ba2 or below 0.350 % The Applicable Facility Fee Rate will be determined based upon the two highest ratings issued by S&P, ▇▇▇▇▇’▇ and Fitch. If such two highest ratings differ (i) by one rating, the higher of such two highest ratings will apply to determine the Applicable Facility Fee Rate so long as the higher rating is from either S&P or Moody’s, otherwise the lower of such two highest ratings will apply, (ii) by two ratings, the rating which falls between such two highest ratings will apply to determine the Applicable Facility Fee Rate, or (iii) by more than two ratings, the rating which is one level above the lower of such two highest ratings will apply to determine the Applicable Facility Fee Rate. If only one such rating is issued by S&P, Moody’s or Fitch, the Applicable Facility Fee Rate will be determined by such rating. The Company shall give written notice to the Administrative Agent of any changes to such ratings, within three (3) Business Days thereof, and any change to the Applicable Facility Fee Rate shall be effective on the date of the relevant change. Notwithstanding the foregoing, if the Company shall at any time fail to have in effect at least one such rating on the Company’s non-credit enhanced senior unsecured long-term debt, the Company shall seek and obtain (if not already in effect), within thirty (30) days after such rating first ceases to be in effect, a corporate credit rating or a bank loan rating from Fitch, ▇▇▇▇▇’▇ and/or S&P (or if none of Fitch, ▇▇▇▇▇’▇ and S&P issue such types of ratings or ratings comparable thereto, from another nationally recognized rating agency approved by each of the Company and the Administrative Agent), and the Applicable Facility Fee Rate shall thereafter be based on such ratings in the same manner as provided herein with respect to the Company’s non-credit enhanced senior unsecured long-term debt rating (with the Applicable Facility Fee Rate in effect prior to the issuance of such corporate credit rating or bank loan rating being the same as the Applicable Facility Fee Rate in effect at the time the non-credit enhance...
Applicable Facility Fee Rate for any Rating Level Period, the rate per annum set forth below opposite the reference to such Rating Level Period: Rating Level 1 Period 0.05% Rating Level 2 Period 0.06% Rating Level 3 Period 0.08% Rating Level 4 Period 0.09% Rating ▇▇▇▇▇ ▇ Period 0.125% Each change in the Applicable Facility Fee Rate resulting from a Rating Level Change shall be effective on the effective date of such Rating Level Change.
Applicable Facility Fee Rate means the “Applicable Facility Fee Rate” determined in accordance with the Pricing Grid set forth in Annex I hereto.