Applicable Standby Letter of Credit Fee. Percentage shall mean the percentage at the indicated Debt Rating in the pricing grid on Schedule 1.1(A), attached hereto and made a part hereof, below the heading "Standby Letter of Credit Fee Percentage".
Applicable Standby Letter of Credit Fee means as of any date, a percentage per annum determined by reference to the applicable Performance Level in effect on such date as set forth below: PERFORMANCE LEVEL XXXXX 0 XXXXX 0 XXXXX 0 XXXXX 0 XXXXX 5 Applicable Standby Letter of Credit Fee 0.900% 1.015% 1.100% 1.300% 1.500%
Applicable Standby Letter of Credit Fee means at anytime the applicable percentage of the Translated Stated Amount of a standby Letter of Credit determined pursuant to the following matrix by reference to the ratio of Funded Indebtedness to Operating Cash Flow as shown in the Compliance Certificate then most recently delivered to the Banks:
Examples of Applicable Standby Letter of Credit Fee in a sentence
If there is any change in the Applicable Standby Letter of Credit Fee during any quarter, the daily amount available to be drawn under each Standby Letter of Credit shall be computed and multiplied by the Applicable Standby Letter of Credit Fee separately for each period during such quarter that such Applicable Standby Letter of Credit Fee was in effect.
The Applicable Margin, the Applicable Commitment Fee Rate, the Applicable Standby Letter of Credit Fee Rate and the Applicable Commercial Letter of Credit Fee Rate shall be recomputed as of the end of each fiscal quarter ending after the Closing Date based on the Net Leverage Ratio as of such quarter end.
Any increase or decrease in the Applicable Margin, the Applicable Commitment Fee Rate, the Applicable Standby Letter of Credit Fee Rate or the Applicable Commercial Letter of Credit Fee Rate computed as of a quarter end shall be effective on the date on which the Compliance Certificate evidencing such computation is due to be delivered under Section 7.3.3 [Certificate of Company] (each, an “Adjustment Date”).
Advance plus 2.0% per annum, and (b) when used with respect to Letter of Credit Fees, a rate equal to the Applicable Standby Letter of Credit Fee plus 2.0% per annum.
The Borrower shall pay to the Agent, for the pro rata benefit of the Lenders based on their Applicable Commitment Percentages, a fee on the average daily aggregate amount available to be drawn on each outstanding Standby Letter of Credit at a rate equal to the Applicable Standby Letter of Credit Fee.
More Definitions of Applicable Standby Letter of Credit Fee
Applicable Standby Letter of Credit Fee means, for each Pricing Period, the per annum rate set forth as the interest rate margin in the definition of "Applicable Eurodollar Rate Margin" opposite the Applicable Pricing Level for that Pricing Period.
Applicable Standby Letter of Credit Fee means as of any date, a percentage per annum determined by reference to the applicable Performance Level in effect on such date as set forth below: PERFORMANCE LEVELLEVEL 1LEVEL 2LEVEL 3LEVEL 4LEVEL 5Applicable Standby Letter of Credit Fee0.900%1.000%1.100%1.300%1.500%
Applicable Standby Letter of Credit Fee. Rate shall mean the percentage rate per annum based on the Net Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Standby Letter of Credit Fee.” Applicant Foreign Borrower shall have the meaning specified in Section 2.15 [Designated Foreign Borrowers]. Approved Fund shall mean any fund that is engaged in making, purchasing, holding or investing in bank loans and similar extensions of credit in the ordinary course of business and that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender. APR Manufacturing Agreement shall mean that certain APR Manufacturing Agreement, dated as of September 7, 2018, between MSA Safety Pittsburgh and MSACL. Asset Disposition shall mean any Transfer except (a) any Transfer (i) from a Domestic Subsidiary to the US Borrower or another Domestic Subsidiary, (ii) from a Foreign Subsidiary or Foreign Borrower to the US Borrower, any Foreign Borrower, or any Domestic Subsidiary or any Foreign Subsidiary, or (iii) from the US Borrower or any Domestic Subsidiary to any Foreign Borrower or any Foreign Subsidiary in an amount, measured at the time any such Transfer is made, which shall not exceed, together with any loans, advances and investments permitted under Section 7.2.4(ix) [Loans and Investments], $750,000,000.00 (which amount shall be calculated net of any Asset Disposition from a Foreign Borrower or Foreign Subsidiary to the US Borrower or a Domestic Subsidiary), in each case, so long as immediately before and immediately after the consummation of any such Transfer and after giving effect thereto, no Event of Default or Potential Default exists, (b) any Transfer made in the ordinary course of business and involving only property that is either (i) inventory held for sale or (ii) equipment, fixtures, supplies or materials no longer used or useful in the operation of the business of the Company or any of its Subsidiaries or that are obsolete, (c) any Transfer by the Company or any Subsidiary constituting a Permitted Investment, (d) non-exclusive licenses or sublicenses to use the patents, trade secrets, know-how and other intellectual property of the Company or any of its Subsidiaries in the ordinary course of business, (e) dispositions or discounts without recourse of accounts receivable in connection with the compromise or collection thereof in the ordinary course of business and (f...
Applicable Standby Letter of Credit Fee means that percent per annum set forth in the table below under the heading Applicable Standby Letter of Credit Fee, which shall be based on the highest Rating existing at the date of determination as specified in the table below: Rating Applicable Standby Tier S&P or Moody's Letter of Credit Fee ---- --- -- ------- -------------------- I >=A- or >=A3 0.275% II >=BBB+ or >=Baa1 0.400% III >=BBB or >=Baa2 0.575% IV (<)BBB and (<)Baa2 0.800% The Applicable Standby Letter of Credit Fee shall be established from time to time based on the Ratings in effect from time to time. Any change in the Applicable Standby Letter of Credit Fee due to a change in any Rating shall be effective on the date of such change in such Rating. In the event of a split Rating, the higher Rating shall determine the Applicable Standby Letter of Credit Fee. If there is no Rating, the Applicable Standby Letter of Credit Fee shall be Tier IV.
Applicable Standby Letter of Credit Fee means (a) a fee at a rate of 1.5% per annum on the undrawn face amount of any standby Letter of Credit on each day when the Leverage Ratio is less than or equal to 2 to 1, and (b) a fee at a rate of 2% per annum on the undrawn face amount of any standby Letter of Credit on each day when the Leverage Ratio is greater than 2 to 1."
Applicable Standby Letter of Credit Fee means the rate per annum set forth in the chart below which corresponds to the range of ratios in which the Borrower's Consolidated Senior Indebtedness to Consolidated EBITDA Ratio as at the end of the preceding Fiscal Quarter falls: Consolidated Senior Indebtedness Applicable Letter of to Consolidated EBITDA Ratio Credit Fee ----------------------------------------------------------------------------------------------------- Less than 0.5 to 1.0 .50% ----------------------------------------------------------------------------------------------------- Equal to or greater than 0.5 to 1.0 but less than 1.0 to 1.0 .625% ----------------------------------------------------------------------------------------------------- Equal to or greater than 1.0 to 1.0 but less than or equal to 1.5 to 1.0 .75% ----------------------------------------------------------------------------------------------------- Equal to or greater than 1.5 to 1.0 but less than or equal to 2.0 to 1.0 .875% ----------------------------------------------------------------------------------------------------- Equal to or greater than 2.0 to 1.0 1.00% ----------------------------------------------------------------------------------------------------- All adjustments shall be determined as of the date the Borrower's financial statements and Compliance Certificate are required to be delivered pursuant to items (a), (b) and (c) of Section 6.02. The foregoing notwithstanding, the Applicable Letter of Credit Fee from the Closing Date to and including the December 1998 Delivery Date shall be .50%.
Applicable Standby Letter of Credit Fee. Rate shall mean the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Standby Letter of Credit Fee.” Commercial Letter of Credit shall mean any letter of credit which is a commercial letter of credit issued in respect of the purchase of goods or services by one or more of the Loan Parties in the ordinary course of their business. Commercial Letter of Credit Fee shall have the meaning specified in Section 2.11.2 [Letter of Credit Fees]. First Amendment Effective Date shall mean November 18, 2011. MSA International shall mean MSA International, Inc., a Delaware corporation. Standby Letter of Credit shall mean a Letter of Credit (including a direct pay letter of credit) issued to support obligations of one or more of the Loan Parties, contingent or otherwise, which finance the working capital and business needs of the Loan Parties, but excluding any Letter of Credit (a) under which the stated amount of such Letter of Credit increases automatically over time or (b) that is a Commercial Letter of Credit.