Applicable Unused Commitment Rate definition

Applicable Unused Commitment Rate means, as at any date of determination, the rate per annum indicated in Section 2.11 as then applicable in the determination of the Unused Commitment Fee under Section 2.5(a).

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Applicable Unused Commitment Rate has the meaning specified in Section 2.09(a).

Applicable Unused Commitment Rate means a per annum fee of 25/100ths of one percent (0.25%) when the Outstanding Amounts of Loans on any day exceed fifty percent (50%) of the Aggregate Commitments in effect on such day (or, if terminated, in effect immediately prior to such termination), and 35/100ths of one percent (0.35%) where the Outstanding Amounts of Loans on any day are equal to or less than fifty percent (5 0%) of the Aggregate Commitments in effect on such day (or, if terminated, in effect immediately prior to such termination). The Unused Commitment Fee shall be calculated as follows:

Examples of Applicable Unused Commitment Rate in a sentence

For each quarter (or portion thereof), the Unused Commitment Fee shall be equal to (A) the average daily Aggregate Commitment during such quarter (or portion thereof) minus (B) the Average Daily Outstandings for such quarter (or portion thereof), with the resulting number multiplied by (C) the Applicable Unused Commitment Rate, and the final product divided by (D) four (4).
Borrower agrees to pay to Administrative Agent for the account of Lenders an Unused Commitment Fee, at a rate per annum equal to the Applicable Unused Commitment Rate, calculated on the basis of a 360-day year in accordance with this Section from the date hereof and to and including the Facility Termination Date, and payable quarterly in arrears on the first day of each January, April, July and October hereafter and on the Facility Termination Date.
The Unused Commitment Fee shall be calculated on the basis of actual days elapsed in a 360 day year at the Applicable Unused Commitment Rate (defined below), and shall be due and payable in arrears on the first Business Day of each calendar quarter for the immediately preceding calendar quarter or portion thereof, commencing April 2, 2012, and on the last day of the Availability Period.
The Applicable Unused Commitment Rate shall be adjusted, as applicable from time to time, effective on (i) the first Business Day after any change in the Facility Rating or the Senior Public Debt Rating, as applicable or (ii) the fifth (5th) Business Day following the delivery by Borrower, pursuant to Section 7.1(i) or (ii), of annual or quarterly financial statements evidencing a change in the Leverage Ratio.
The Unused Commitment Fee shall be calculated on the basis of actual days elapsed in a 360 day year at the Applicable Unused Commitment Rate (defined below), and shall be due and payable in arrears on the first Business Day of each calendar quarter for the immediately preceding calendar quarter or portion thereof, commencing October 1, 2013, and on the last day of the Availability Period.
The Applicable Floating Rate Margin and the Applicable Unused Commitment Rate shall be adjusted, as applicable from time to time, effective on the first Business Day after any change in the Facility Rating or the Senior Public Debt Rating, as applicable.
Administrative Agent will notify each Lender of the interest rate applicable to each LIBOR Advance promptly upon determination of such interest rate and will give each Lender prompt notice of each change in the Floating Rate, the Applicable LIBOR Rate Margin or the Applicable Unused Commitment Rate.
Administrative Agent will notify each Bank of the interest rate applicable to each LIBOR Advance promptly upon determination of such interest rate and will give each Bank prompt notice of each change in the Floating Rate, the Applicable Margin or the Applicable Unused Commitment Rate.
Borrower agrees to pay to Agent for the account of each Bank an Unused Commitment Fee, at a rate per annum equal to the Applicable Unused Commitment Rate, calculated on the basis of a 360-day year in accordance with this Section from the date hereof and to and including the Facility Maturity Date, and payable quarterly in arrears as of the first day of each January, April, July and October hereafter and on the Facility Maturity Date.
For each quarter (or portion thereof), the Unused Commitment Fee shall be equal to (A) the average daily Aggregate Commitment during such quarter (or portion thereof) minus (B) the Average Daily Outstandings for such quarter (or portion ----- thereof), with the resulting number multiplied by (C) the Applicable Unused Commitment Rate, and the final product divided by (D) four (4).

More Definitions of Applicable Unused Commitment Rate

Applicable Unused Commitment Rate means a per annum fee of 25/100ths of one percent (0.25%) when the Outstanding Amounts of Committed Loans plus the Outstanding Amounts of L/C Obligations on any day exceed fifty percent (50%) of the Aggregate Commitments in effect on such day (or, if terminated, in effect immediately prior to such termination), and 35/100ths of one percent (0.35%) where the Outstanding Amounts of Committed Loans plus the Outstanding Amounts of L/C Obligations on any day are equal to or less than fifty percent (50%) of the Aggregate Commitments in effect on such day (or, if terminated, in effect immediately prior to such termination). The Unused Commitment Fee shall be calculated as follows: