Applicable Unused Fee means, for any day, the applicable rate per annum set forth below, based on the percentage of the Revolving Commitments in use on such date (with usage calculated in accordance with Section 3.6(a)): Usage Unused Fee ≤ 50% 0.20% > 50% 0.15%
Applicable Unused Fee means that percent per annum set forth below, which shall be based upon the Consolidated Total Leverage Ratio for the Four-Quarter Period most recently ended as specified below: ------------------------------------------------------------------------------------------------------- Tier Consolidated Total Leverage Ratio Applicable Unused Fee ------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------- IV Greater than 5.50 to 1.00 0.275% ------------------------------------------------------------------------------------------------------- III Less than or equal to 5.50 to 1.00 but greater than 0.250% 5.00 to 1.00 ------------------------------------------------------------------------------------------------------- II Less than or equal to 5.00 to 1.00 but greater than 0.200% 3.50 to 1.00 ------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------- I Less than or equal to 3.50 to 1.00 0.180% ------------------------------------------------------------------------------------------------------- The Applicable Unused Fee shall be established at the end of each fiscal quarter of the Borrower (the "Determination Date"). Any change in the Applicable Unused Fee following each Determination Date shall be determined based upon the computations set forth in the certificate furnished to the Agent pursuant to SECTION 8.1(a)(ii) and SECTION 8.1(b)(ii), subject to review and approval of such computations by the Agent and shall be effective commencing on the date following the date such certificate is received (or, if earlier, the date such certificate was required to be delivered) until the date following the date on which a new certificate is delivered or is required to be delivered, whichever shall first occur; PROVIDED HOWEVER, if the Borrower shall fail to deliver any such certificate within the time period required by SECTION 8.1, then the Applicable Unused Fee shall be Tier IV from the date such certificate was required to be delivered until the appropriate certificate is so delivered. From the Closing Date to the day following the date of delivery of such certificate for the period ending December 31, 1997, the Applicable Unused Fee shall be Tier II.
Applicable Unused Fee means that percent per annum set forth below, which shall be based upon the Consolidated Debt Coverage Ratio for the Four-Quarter Period most recently ended as specified below:
Examples of Applicable Unused Fee in a sentence
Borrower agrees to pay to the Lender the Applicable Unused Fee on the average amount of the Revolving Credit Commitment unused during each Fiscal Quarter.
If there is any change in the Applicable Unused Fee during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Unused Fee separately for each period during such quarter that such Applicable Unused Fee was in effect.
For the period beginning on the Closing Date and ending on the Revolving Credit Termination Date, the Borrower agrees to pay to the Agent, for the pro rata benefit of the Lenders based on their Applicable Commitment Percentages, a commitment fee equal to the Applicable Unused Fee multiplied by the average daily amount by which the Total Revolving Credit Commitment exceeds the sum of (i) Revolving Credit Outstandings without giving effect to Swing Line Outstandings plus (ii) Letter of Credit Outstandings.
The Applicable Unused Fee shall be calculated quarterly in arrears.
Matt, I would say the perspective on M&A, really, I wouldn't take much from this either way.
More Definitions of Applicable Unused Fee
Applicable Unused Fee means that percent per annum set forth below, which shall be based upon the Consolidated Funded Debt Ratio for the Four-Quarter Period most recently ended as specified below: Applicable Consolidated Unused Funded Debt Ratio Fee ----------------- ---------- (a) Greater than .55 to 1.00 .2500%
Applicable Unused Fee means that percent per annum, based upon the Consolidated Leverage Ratio for the Four-Quarter Period most recently ended, set forth as the Applicable Unused Fee in the Pricing Grid and subject to further adjustment as therein provided.
Applicable Unused Fee means the per annum percentage points shown in the table below based on the applicable Debt to EBITDAS Ratio, calculated for Borrower on a consolidated basis and without duplication in accordance with GAAP: Level Debt to EBITDAS Unused Fee I >2.75:1 0.500% II >2.25<2.75 0.500% III >1.75<2.25 0.375% IV >1.25<1.75 0.250% V >0.75<1.25 0.250% VI <0.75 0.250% provided, however, that commencing on the Second Amendment Effective Date and continuing through and including the Fiscal Quarter ending September 30, 2017, the Applicable Unused Fee shall be fixed at Level I. Effective on the tenth (10th) day following the date on which the Borrower’s QCC Sheet is required to be delivered to the Lender pursuant to Section 12.6 for the Fiscal Quarter ending September 30, 2017, the Applicable Unused Fee will be adjusted based upon the Debt to EBITDAS ratio shown therein. Thereafter, changes, if any, in the Level applicable will be effective on the tenth (10th) day following each date on which the Borrower’s QCC Sheet is required to be delivered to the Lender pursuant to Section 12.6, based upon the Debt to EBITDAS ratio shown therein. In the event that any QCC Sheet is not delivered by the date required, the Applicable Unused Fee will revert to Level I until the tenth (10th) day following the date of delivery of the delayed QCC Sheet, on which tenth (10th) day the Applicable Unused Fee will be adjusted to the applicable level shown by the QCC Sheet. Upon the occurrence of a Default or Event of Default, the Applicable Unused Fee shall immediately be adjusted to Level I and no reduction shall occur thereafter unless the Default is cured, or if the Default is also an Event of Default, the Event of Default is waived in writing by the Lender.”
Applicable Unused Fee means that percent per annum set forth below, which shall be based upon the Consolidated Fixed Charge Coverage Ratio for the Four-Quarter Period most recently ended as specified below: APPLICABLE CONSOLIDATED FIXED UNUSED CHARGE COVERAGE RATIO FEE --------------------- ---------- (a) Greater than or equal to 7.00 to 1.0 .15%
Applicable Unused Fee means 0.45% per annum based upon the Usage (as such term is defined below) as of the date of determination. As used in this definition, the term “Usage” shall mean on each date of determination the percentage of usage of the Revolving Commitments obtained by subtracting the average daily Total Revolving Outstandings for the most recent fiscal quarter ending prior to the date of determination from the aggregate Revolving Commitments then in effect.”
Applicable Unused Fee means that percent per annum set forth below, which shall be based upon the Consolidated Leverage Ratio for the Four-Quarter Period most recently ended as specified below: Applicable Level Leverage Ratio Unused Fee ----- -------------- ---------- I Greater than 5.00 to 1.00 0.50% II Less than or equal to 5.00 to 1.00 but 0.50% greater than 4.00 to 1.00 III Less than or equal to 4.00 to 1.00 but 0.40% greater than 3.00 to 1.00 IV Less than or equal to 3.00 to 1.00 but 0.35% greater than 2.25 to 1.00 V Less than or equal to 2.25 to 1.00 but 0.30% greater than 1.50 to 1.00 VI Less than or equal to 1.50 to 1.00 but 0.25% greater than 0.75 to 1.00 VII Less than or equal to 0.75 to 1.00 0.20% The Applicable Unused Fee shall be established at each Determination Date. Any change in the Applicable Unused Fee following each Determination Date shall be determined based upon the computations set forth in the certificate furnished to the Agent pursuant to SECTION 9.1(a)(ii) and SECTION 9.1(b)(ii), subject to review and approval of such computations by the Agent and shall be effective commencing on the fifth Business Day following the date such certificate is received until the fifth Business Day following the date on which a new certificate is delivered or is required to be delivered, whichever shall first occur; provided however, if the Borrower shall fail to deliver any such certificate within the time period required by SECTION 9.1, then the Applicable Unused Fee shall be Level I from the date such certificate was due until the appropriate certificate is so delivered. From the Closing Date until the date that a change in the Applicable Unused Fee is determined for the first Determination Date after the Closing Date, in accordance with the provisions of this paragraph, the Applicable Unused Fee shall be Level I.
Applicable Unused Fee means the per annum rate (calculated based upon days elapsed over a 360 day year) shown in the table below based on the applicable Debt to EBITDARS Ratio, calculated for Borrower on a consolidated basis and without duplication in accordance with GAAP; provided, however, that for the twelve-month period commencing on the Fourth Amendment Effective Date, the Applicable Unused Fee shall be fixed at 0.500%); provided, further however, that if at the end of such twelve-month period, the Borrower is non-compliant with any covenant under this Agreement, then, notwithstanding the last sentence of this definition, which shall be of no force and effect during such noncompliance following the end of such twelve-month period, the Applicable Unused Fee shall be fixed at 0.500% for so long as the Borrower is non-compliant with such covenant:”