Applicable Unused Commitment Fee Rate definition

Applicable Unused Commitment Fee Rate means 0.50% per annum.

Applicable Unused Commitment Fee Rate means a percentage per annum equal to 0.25%.

Applicable Unused Commitment Fee Rate means (a) during the period commencing on the Closing Date and ending on the later of (i) (A) if the Senior Unsecured Facility is not funded, the date on which the commitments with respect to the Senior Unsecured Facility under the Senior Unsecured Credit Agreement are terminated pursuant to the terms thereof or (B) if the Senior Unsecured Facility is funded, the date on which all obligations under the Senior Unsecured Facility have been repaid or refinanced (or exchanged for Senior Unsecured Fixed Rate Exchange Securities) in full and (ii) the first date on which the Administrative Agent is in receipt of Financial Statements for a full Fiscal Quarter ending on September 30, 2005 required to be delivered pursuant to Section 6.1(a) (Financial Statements), 0.50% per annum and (b) thereafter, as of any date of determination, a per annum rate equal to the rate set forth below opposite the then applicable Leverage Ratio (determined on the last day of the most recent Fiscal Quarter for which Financial Statements have been delivered pursuant to Section 6.1(a) or (b) (Financial Statements)) set forth below: LEVERAGE RATIO APPLICABLE UNUSED COMMITMENT FEE RATE ------------------- Greater than or equal to 3.0 to 1 0.500% ------------------- Less than 3.0 to 1 0.375% ------------------- Changes in the Applicable Unused Commitment Fee Rate resulting from a change in the Leverage Ratio on the last day of any subsequent Fiscal Quarter shall become effective upon delivery by the Company to the Administrative Agent of new Financial Statements pursuant to Section 6.1(a) or (b) (Financial Statements), as applicable. Notwithstanding anything to the contrary set forth in this Agreement (including the then effective Leverage Ratio), if the Company shall fail to deliver such Financial Statements within any of the time periods specified in Section 6.1(a) or (b) (Financial Statements), the Applicable Unused Commitment Fee Rate from and including the 46th day after the end of such Fiscal Quarter or the 9lst day after the end of such Fiscal Year, as the case may be, to but not including the date the Company delivers to the Administrative Agent such Financial Statements shall equal the highest possible Applicable Unused Commitment Fee Rate provided for in this definition.

Examples of Applicable Unused Commitment Fee Rate in a sentence

• The Borrower agrees to pay to each Lender a commitment fee on the daily average amount of the Unused Commitments from the date hereof until the Revolving Credit Termination Date at the Applicable Unused Commitment Fee Rate, payable in arrears (i) on the last day of each calendar quarter, commencing on the first such day following the Effective Date and (ii) on the Revolving Credit Termination Date.

• The Borrower agrees to pay to each Revolving Credit Lender a commitment fee (the “Unused Commitment Fee”) on the actual daily amount by which the Revolving Credit Commitment of such Revolving Credit Lender exceeds such Lender’s Ratable Portion of (i) the average daily excess of the amount then effective Revolving Loan Commitments over the Revolving Credit Outstandings (exclusive of any outstanding Swing Loans) multiplied by (ii) the Applicable Unused Commitment Fee Rate.

• Following the effectiveness of the ESG Amendment, any modification to the ESG Pricing Provisions which does not have the effect of reducing the Applicable Unused Commitment Fee Rate, Applicable Margin for Base Rate Loans consisting of Revolving Loans or Applicable Margin for Eurodollar RateTerm SOFR Loans consisting of Revolving Loans to a level not otherwise permitted by this paragraph shall be subject only to the consent of the Requisite Revolving Credit Lenders.

• The Borrowers agree to pay to the Agent, for the account of each Revolving Lender in accordance with such Lender's Pro Rata Share, an unused commitment fee at a per annum rate equal to the Applicable Unused Commitment Fee Rate on the average daily Available Revolving Commitment, payable on each Payment Date hereafter and on the Facility Termination Date (the "Unused Commitment Fee").

• From and including the Execution Date to but excluding the earlier of the Closing Date and the Maturity Date, the Borrower agrees to pay to the Administrative Agent for the account of each Term Loan A-1 Lender according to its Pro Rata Share, a nonrefundable unused commitment fee (each a “Term Loan A-1 Unused Commitment Fee”) equal to the Applicable Unused Commitment Fee Rate multiplied by the Term Loan A-1 Commitments.

More Definitions of Applicable Unused Commitment Fee Rate

Applicable Unused Commitment Fee Rate means, as of any date of determination, a per annum rate equal to the rate set forth below opposite the respective Level (i.e., Level 1 or Level 2, as the case may be) of Average Revolver Usage for the calendar quarter most recently ended (or, for the first payment of the Unused Commitment Fee under Section 2.12(a), for the period commencing on the Closing Date and ending on the last day of the calendar quarter in which the Closing Date occurred); provided that the Applicable Unused Commitment Fee Rate shall not change until 5 Business Days after the end of such calendar quarter (or shorter period). Average Level Revolver Usage Unused Commitment Fee Level 1 Less than 50% 0.50 % Level 2 Equal to or greater than 50% 0.375 %

Applicable Unused Commitment Fee Rate means the percentage rate per annum based on the Total Net Leverage Ratio then in effect according to the Pricing Grid below the heading “Applicable Unused Commitment Fee Rate.”

Applicable Unused Commitment Fee Rate means, for any day, a percentage per annum equal to (a) initially, 0.500% per annum and (b) following the end of the first full fiscal quarter ending after the Closing Date, the following percentages per annum, based upon Average Revolving Loan Utilization as of the most recent Adjustment Date: Average Revolving Loan Utilization Unused Commitment Fee < 50% 0.500 % > 50% 0.375 %

Applicable Unused Commitment Fee Rate means 0.375% per annum.

Applicable Unused Commitment Fee Rate means the applicable rate per annum set forth below based on the Interest Coverage Ratio of the Company and its consolidated Subsidiaries as of the end of the most recently ended quarter: Interest Coverage Ratio Applicable Unused Commitment Fee Rate greater than 2.75 to 1.00 0.25 % greater than 1.75 to 1.00, but less than or equal to 2.75 to 1.00 0.375 % less than or equal to 1.75 to 1.00 0.50 %

Applicable Unused Commitment Fee Rate means, at any time, a per annum rate equal to the rate set forth below opposite the then applicable Rating set forth below: RATING APPLICABLE UNUSED COMMITMENT FEE A- or A3 or higher (Level 1) 0.175 % BBB+ or Baa1 (Level 2) 0.225 % BBB or Baa2 (Level 3) 0.300 % BBB- or Baa3 (Level 4) 0.400 % Ratings below Xxxxx 0 or no Rating 0.500 % In the event the Facility receives, at any time, (a) Ratings that are one ratings grade apart, for purposes of determining a rating level defined by an “or”, the applicable rating to determine the rates or margins above shall be the higher of such Ratings, or (b) Ratings that are greater than two ratings grades apart, the applicable Rating to determine the rates or margins above shall be the Rating that is one grade higher than the lowest Rating of the Ratings obtained for that period of determination. Changes in the Applicable Unused Commitment Fee Rate resulting from a change in the Rating shall become effective on the date of the publication by S&P and/or Xxxxx’x of the new Rating from time to time.

Applicable Unused Commitment Fee Rate at any date of determination, with respect to each Borrower, the rate per annum corresponding to such Borrower’s Credit Rating on such date, as set forth below: Level Credit Rating Applicable Unused Commitment Fee Rate 1 at least A- by S&P or A3 by Xxxxx’x 0.100% 2 less than Level 1 but at least BBB+ by S&P or Baa1 by Xxxxx’x 0.125% 3 less than Level 2 but at least BBB by S&P or Baa2 by Xxxxx’x 0.175% 4 less than Level 3 but at least BBB- by S&P or Baa3 by Xxxxx’x 0.200% 5 less than Level 4 or unrated by both S&P and Xxxxx’x 0.275% provided, however, that if at any time there is a split Credit Rating, then the Applicable Unused Commitment Fee Rate at such time will be determined by the higher of the two Credit Ratings, except that in the event that the lower of such Credit Ratings is more than one Level below the higher of such Credit Ratings, the Applicable Unused Commitment Fee Rate will be determined based on the Level that is one Level lower than the higher of such ratings; provided, further, that if such Borrower is unrated by one of S&P or Xxxxx’x (other than by reason of the circumstances referred to in the definition of “Credit Rating”), then the Applicable Unused Commitment Fee Rate shall be based on the Credit Rating established by the other rating agency.