Applicable LC Fee Rate means, as of any date, the percentage rate per annum which is applicable at such time with respect to Facility LCs as set forth in the Pricing Schedule.
Applicable LC Fee Rate means (a) with respect to Financial Letters of Credit, the "Applicable Financial LC Fee Rate" determined in accordance with the Pricing Grid set forth in Annex I hereto and (b) with respect to Non-Financial Letters of Credit, the "Applicable Non-Financial LC Fee Rate" determined in accordance with the Pricing Grid set forth in Annex I hereto.
Applicable LC Fee Rate means at any time (x) in the case of standby Letters of Credit (other than those described in the following clause (y)), the same Applicable Rate used to determine the interest rate applicable to Eurocurrency Revolving Loans at such time and (y) in the case of commercial Letters of Credit and standby Letters of Credit issued to ensure the performance of services and/or delivery of goods, in each case at a per annum rate equal to 50% of the Applicable Rate used to determine the interest rate applicable to Eurocurrency Revolving Loans at such time.
More Definitions of Applicable LC Fee Rate
Applicable LC Fee Rate means, as at any date, (a) with respect to Financial Letters of Credit, the Applicable Margin for Eurocurrency Loans on such date and (b) with respect to Non-Financial Letters of Credit, 50% of the Applicable Margin for Eurocurrency Loans on such date.
Applicable LC Fee Rate means the rate set forth opposite “LC Fee Rate” on the Pricing Grid for the applicable Pricing Level.
Applicable LC Fee Rate means the percentage set forth in Level II of the pricing grid below; provided, that, on and after the first Adjustment Date, and on each Adjustment Date thereafter, the Applicable LC Fee Rate shall be determined from the following pricing grid based upon the Quarterly Average Excess Availability for the most recent Fiscal Quarter ended immediately preceding such Adjustment Date; except that (i) notwithstanding anything to the contrary set forth herein, upon the occurrence of an Event of Default, the Administrative Agent may, and at the direction of the Required Lenders shall, immediately increase the Applicable LC Fee Rate to the rate set forth in Level III (even if the Quarterly Average Excess Availability requirements for a different Level have been met) and interest shall accrue at the Default Rate and (ii) if any Borrowing Base Certificate is at any time restated or otherwise revised (including as a result of a field examination) or if the information set forth in any Borrowing Base Certificate otherwise proves to be false or incorrect such that the Applicable LC Fee Rate would have been higher than was otherwise in effect during any period, without constituting a waiver of any Default or Event of Default arising as a result thereof, Letter of Credit Fees due under this Agreement shall be immediately recalculated at such higher rate for any applicable periods and shall be due and payable on demand. In the event that the credit rating of the Lead Borrower is upgraded by both S&P and Xxxxx’x in each case for the Lead Borrower’s Corporate Family Ratings to Ba1 (stable outlook) and BB+ (stable outlook) or better, respectively, commencing on the first day of the calendar month after the receipt by Administrative Agent of a written request from the Lead Borrower with confirmation of such upgrade, the Applicable LC Fee Rates in each of the Levels set forth below will be reduced by twenty-five (25) basis points. Level Quarterly Average Excess Availability Letter of Credit Fee I Equal to or greater than 66.67% of the Aggregate Commitments 1.75 % II Greater than or equal to 33.33% of the Aggregate Commitments but less than 66.67% of the Aggregate Commitments 2.00 % III Less than 33.33% of the Aggregate Commitments 2.25 %
Applicable LC Fee Rate means the percentage rate per annum calculated, (a) with respect to Standby Letters of Credit, at the then applicable Applicable Margin for LIBO Rate Loans that are Tranche A Revolving Loans, and (b) with respect to Commercial Letters of Credit, at the then applicable Applicable Margin for LIBO Rate Loans that are Tranche A Revolving Loans less one-half of one percent (.50%).
Applicable LC Fee Rate see Schedule 1.01(a).
Applicable LC Fee Rate means (a) with respect to Financial Letters of Credit, the