Applicable Margin for Commitment Fee definition

Applicable Margin for Commitment Fee has the meaning set forth in the fourth column of the following table: II ³ 1.25:1.00 < 1.75:1.00 225 bps 25 bps III ³ 1.75:1.00 < 2.25:1.00 260 bps 30 bps IV ³ 2.25:1.00 £ 2.50:1.00 300 bps 35 bps The Applicable Margin for LIBOR Loans or LOCs and Applicable Margin for Commitment Fee (“Applicable Margins”) shall be determined and adjusted on the first day of the fiscal quarter (each a “Calculation Date”) following the date on which the Agent receives the financial statements required by Section 5.6(a) or 5.6(b), as applicable, and the related compliance certificate provided by Borrower in accordance with the provisions of Section 5.6(c); provided, however, that if Borrower fails to provide such financial statements and compliance certificate to the Agent as required by and within the time limits set forth in Section 5.6, the Applicable Margin from the date of such failure shall be based on Tier Level IV until five Business Days after an appropriate compliance certificate is provided, whereupon the Tier Level shall be determined by the then current Consolidated Leverage Ratio until the next Calculation Date. Except as set forth above, each Applicable Margin shall be effective from one Calculation Date until the next Calculation Date.

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Examples of Applicable Margin for Commitment Fee in a sentence

• The Borrowers shall pay to the Administrative Agent for the ratable account of the Lenders in accordance with their Revolver Percentages a commitment fee at the rate per annum equal to the Applicable Margin for Commitment Fee (computed on the basis of a year of 360 days and the actual number of days elapsed) on the average daily Unused Revolving Credit Commitments.

• The Borrower shall pay to the Administrative Agent for the ratable account of the Lenders in accordance with their Revolver Percentages a commitment fee at the rate per annum equal to the Applicable Margin for Commitment Fee (computed on the basis of a year of 360 days and the actual number of days elapsed) on the average daily Unused Revolving Credit Commitments.

• The Borrower agrees to pay to the Administrative Agent for the account of each Lender a commitment fee (the "COMMITMENT FEE"), which shall accrue at the Applicable Margin for Commitment Fee on the average daily, unused portion of the Revolving Commitment of such Lender during the Availability Period.

• The Company shall pay to the Agent for the account of each Bank a commitment fee (the "Commitment Fee") on the average daily unused portion of such Bank's Commitment, computed on a quarterly basis in arrears on the last Business Day of each calendar quarter based upon the daily utilization for that quarter as calculated by the Agent, equal to the Applicable Margin for Commitment Fee from time to time in effect.

• For the period from the date hereof to and including the Termination Date, the Borrowers shall pay to the Agent for the account of the Lenders a commitment fee at the rate per annum (computed on the basis of a year of 360 days for the actual number of days elapsed) equal to the Applicable Margin for Commitment Fee in effect from time to time on the average daily unused amount of the Commitments hereunder (whether or not available).