Applicable Letter of Credit Fee Percentage definition

Applicable Letter of Credit Fee Percentage shall have the meaning set forth in Section 3.2(a) hereof.

Applicable Letter of Credit Fee Percentage means the annualized percentage to be used to calculate Letter of Credit Fees from time to time, which shall be determined as provided in Section 2.13.

Applicable Letter of Credit Fee Percentage means 2.00%.

Examples of Applicable Letter of Credit Fee Percentage in a sentence

• For each Letter of Credit issued or extended, the Company shall pay to the Agent for the account of the Banks, in advance on the date of issuance or extension, a fee (a "Letter of Credit Fee") in an amount equal to the Applicable Letter of Credit Fee Percentage per annum, as in effect on the date of issuance or extension, of the original face amount of the Letter of Credit for the period from the date of issuance or extension to the scheduled expiration date of such Letter of Credit.

• The Applicable Letter of Credit Fee Percentage shall be computed in accordance with the parameters set forth on Schedule 1.1(A).

• From each Incentive Pricing Effective Date until the next Incentive Pricing Effective Date, the Applicable Base Rate Margin, the Applicable Libor Rate Margin, the Applicable Unused Facility Fee Percentage and the Applicable Letter of Credit Fee Percentage shall be determined by reference to the applicable Undrawn Availability on the grid below; provided, however, that Tier IV pricing shall apply through and including November 30, 2007.

• For each Letter of Credit issued, the Borrower shall pay to the Agent for the account of the Banks, in advance payable on the date of issuance, a fee (a “Letter of Credit Fee”) in an amount determined by applying the Applicable Letter of Credit Fee Percentage to the original face amount of the Letter of Credit for the period from the date of issuance to the scheduled expiration date of such Letter of Credit.

• Notwithstanding the provisions of Section 3.1 or any other provision contained in the Agreement to the contrary, from December 28, 2006 through the later of (a) April 30, 2007 or (b) the last day of the calendar month in which the Agent receives the March 31, 2007 Borrowing Base Certificate, the Applicable Libor Rate Margin and the Applicable Letter of Credit Fee Percentage shall equal 2.25%.

More Definitions of Applicable Letter of Credit Fee Percentage

Applicable Letter of Credit Fee Percentage means, at any time, the per annum percentage equal to the Applicable Margin (with respect to any Eurodollar Rate Loan) at such time.

Applicable Letter of Credit Fee Percentage means, at any time, the Applicable Margin then in effect for Eurodollar Loans less 1/4 of 1%.

Applicable Letter of Credit Fee Percentage shall be determined pursuant to Section 3.2.

Applicable Letter of Credit Fee Percentage means the percentage amount determined as a function of the unenhanced rating assigned by a Rating Agency to either of the City’s Parity Electric Utility Obligations or Parity Water/Wastewater Obligations, whichever obligations have the lowest rating, in accordance with the schedule below. Schedule Level Rating Moody’s/S&P/Fitch Applicable Letter of Credit Fee Percentage Level 1 A1 / A+/A+ .90% Level 2 A2 / A/A 1.10% Xxxxx 0 X0 / X-/X- 0.00% Xxxxx 0 Xxx0 / BBB+/BBB+ 1.50% Xxxxx 0 Xxx0 / XXX/XXX 1.70% Xxxxx 0 Xxx0 / XXX-/XXX- 1.90% In the event of split ratings among Moody’s, S&P and Fitch, the Applicable Letter of Credit Fee shall be determined from the lowest of the three ratings. Any change in the Applicable Letter of Credit Fee Percentage resulting from a change in a rating shall be and become effective as of and on the date of the announcement of the change in such rating. References to ratings above are references to rating categories as presently determined by the Rating Agencies and in the event of adoption of any new or changed rating system by any such Rating Agency, each of the ratings from the Rating Agency in question referred to above shall be deemed to refer to the rating category under the new rating system which most closely approximates the applicable rating category as currently in effect. The City acknowledges, and the Banks agree, that as of the Closing Date the Applicable Letter of Credit Fee Percentage is that specified above for Level 1. Upon the occurrence and during the continuance of an Event of Default or in the event that any rating is suspended, withdrawn or is otherwise unavailable, in each case for credit related reasons, the Applicable Letter of Credit Fee Percentage shall be increased from the rate then in effect by an additional one and one-half percent (1.50%). The Letter of Credit Fees shall be payable quarterly in arrears, together with interest on the Letter of Credit Fees from the date payment is due until payment in full at the Default Rate.

Applicable Letter of Credit Fee Percentage means, with respect to any Letter of Credit, (i) for the period from and including the Third Amendment Effective Date to but not including the date that is three years after the Third Amendment Effective Date, 1.50% per annum and (ii) from and including the date that is three years after the Third Amendment Effective Date and thereafter, 1.75% per annum." (i) The definition of "Applicable Margin" contained in Appendix A to the Credit Agreement shall be amended in its entirety to read as follows:

Applicable Letter of Credit Fee Percentage as of any date of determination, (a) with respect to Letters of Credit having a scheduled expiration date not more than six months after the date of issuance, the applicable percentage based on the Performance Level, as set forth below: -3- Performance Level Applicable Percentage ----------------- --------------------- I 0.75% II 0.75% III 1.25% IV 1.75% and (b) with respect to Letters of Credit having a scheduled expiration date more than six months after the date of issuance, the applicable percentage based on the Performance Level, as set forth above, plus one-quarter of one percent (0.25%), in each case PLUS the Additional Margin.

Applicable Letter of Credit Fee Percentage. (a) with respect to Letters of Credit having a scheduled expiration date more than six months after the date of issuance, the Applicable Margin for Eurodollar Advances, and (b) with respect to Letters of Credit having a scheduled expiration date six months or less after the date of issuance, the greater of (i) the Applicable Margin for Eurodollar Rate Advances minus 0.25% or (ii) 0.75%.