Applicable Unused Fee Percentage means the applicable percentage for the Applicable Margin and the Applicable Unused Fee Percentage corresponding to the applicable Funded Debt Ratio set forth below, as calculated by the Administrative Agent based on the Company’s financial statements prepared in accordance with the provisions of Section 5.8 and delivered to the Administrative Agent. The Applicable Margin on the Closing Date shall be 2.60% with respect to the Revolving Loans and 2.80% with respect to the Term Loans. The Applicable Unused Fee Percentage on the Closing Date shall be 0.25%. The Applicable Margin will be adjusted on quarterly basis in accordance with the table set forth below: Funded Debt Ratio Applicable Margin for Revolving Loans Applicable Margin for Term Loans Applicable Unused Fee Percentage Less than or equal to 1.50 to 1. 1.60 % 1.80 % 0.10 % Greater than 1.50 to 1, and less than or equal to 2.00 to 1. 1.90 % 2.10 % 0.15 % Greater than 2.00 to 1, and less than or equal to 2.50 to 1. 2.25 % 2.45 % 0.20 % Greater than 2.5.0 to 1. 2.60 % 2.80 % 0.25 % The Applicable Margin and the Applicable Unused Fee Percentage will be adjusted to the percentage corresponding to the applicable Funded Debt Ratio in effect as of the last day of each fiscal quarter of the Company. The adjustment will become effective as of the first day of the calendar month next succeeding delivery to the Administrative Agent of the Company’s financial statements and Covenant Compliance Certificate for the last month of each fiscal quarter pursuant to Section 5.8. No decrease in the Applicable Margin or the Applicable Unused Fee Percentage shall become effective if, at such time, any Event of Default has occurred and is continuing. If the Company’s financial statements are not delivered to the Administrative Agent within the specified time periods, the Applicable Margin and the Applicable Unused Fee Percentage may be increased, at the option of the Administrative Agent, or upon written notice from the Required Lenders to the Administrative Agent and the Company, to the highest applicable percentage from the date on which the statements were due through the date on which such statements are delivered to the Administrative Agent. In the event that any financial statement or Covenant Compliance Certificate delivered pursuant to Section 5.8 is shown to be inaccurate (regardless of whether this Agreement or the Commitments are in effect when such inaccuracy is discovered), and such inaccuracy, if corrected, wou...
Applicable Unused Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.14(C)(i) hereof determined in accordance with the provisions of Section 2.14(D)(ii) hereof.
Applicable Unused Fee Percentage means (i) one fifth of one percent (0.20%) if the Senior Debt/EBITDA ratio calculated pursuant to Section 6.7(c) hereof is less than or equal to 1.00 to 1.00 for the most recently ended measuring period, (ii) one quarter of one percent (0.25%) if the Senior Debt/EBITDA ratio calculated pursuant to Section 6.7(c) hereof is greater than 1.00 to 1.00 but less than or equal to 1.75 to 1.00 for the most recently ended measuring period, and (iii) three tenths of one percent (0.30%) if the Senior Debt/EBITDA ratio calculated pursuant to Section 6.7(c) hereof is greater than 1.75 to 1.00 for the most recently ended measuring period.
Examples of Applicable Unused Fee Percentage in a sentence
Borrower hereby agrees to pay to the Administrative Agent, for the ratable account of each Lender having a Commitment, a commitment fee on the daily average unused amount of such Lender's Commitment for the period from and including the date of this Agreement to but excluding the Termination Date, at the per annum rate equal to the Applicable Unused Fee Percentage based on a 360-day year, as the case may be, and the actual number of days elapsed.
A fee (the “Unused Fee”), payable quarterly, in arrears, on a calendar year basis, in an amount equal to the Applicable Unused Fee Percentage per annum of the average daily unused portion of the Revolving Line, as determined by Bank.
RFR Margin, Applicable Floating Rate Margin, Applicable L/C Fee Percentage and Applicable Unused Fee Percentage.
In Section 1.1, the definition of "Applicable Unused Fee Percentage" is hereby amended by adding the following sentence at the conclusion of such definition: At all times that the Applicable Margin is greater than 1.75%, the Applicable Unused Fee Percentage will be 37.5 basis points.
Borrower shall pay to Agent for the account of Lenders in accordance with their Pro Rata Shares an annual commitment fee in the amount equal to the product of (i) the Applicable Unused Fee Percentage and (ii) the Unused Portion.
More Definitions of Applicable Unused Fee Percentage
Applicable Unused Fee Percentage means the per annum rate with respect to the unused portion of the Commitments as follows: (a) from the date hereof until delivery of financial statements and a compliance certificate for the period ending March 31, 1998, as required hereunder, three-eighths of one percent (.375%); and (b) thereafter, based on the Net Debt to EBITDA Ratio as of and for the most recent four (4) quarter period ending on or before the date of determination, the percentage set forth opposite such ratio below: d-501795.7 LOAN AGREEMENT 3 Net Debt to EBITDA Ratio Applicable Unused Fee Percentage ----------------------------------------------------- ------------------------- Less than 1.5 to 1.0 .250% Less than 2.0 to 1.0 but greater than or .300% equal to 1.5 to 1.0 ----------------------------------------------------- ------------------------- Greater than or equal to 2.0 to 1.0 .375% ===================================================== ========================= The Applicable Unused Fee Percentage shall be adjusted, if necessary, at the same time as adjustments to the Applicable Margin. If Borrower fails at any time to furnish to the Administrative Agent and the Lenders the financial statements and related compliance certificate as required to be delivered pursuant to Section 8.1, then the maximum Applicable Unused Fee Percentage shall apply until such time as such financial statements and compliance certificates are so delivered.
Applicable Unused Fee Percentage means an amount equal to (i) if the average daily Revolving Credit Exposure is less than 50% of the Aggregate Revolving Commitment Amount for the subject quarter, 0.25% per annum, and (ii) if the average daily Revolving Credit Exposure is equal to or greater than 50% of the Aggregate Revolving Commitment Amount for the subject quarter, 0.15% per annum; and
Applicable Unused Fee Percentage is (i) one half of one percent (0.50%) if Borrower’s and its Subsidiaries’ consolidated Liquidity Ratio for the most recently ended quarter was less than 1.35 to 1.00, (ii) three eighths of one percent (0.375%) if Borrower’s and its Subsidiaries’ consolidated Liquidity Ratio for the most recently ended quarter was greater than or equal to 1.35 to 1.00 but less than or equal to 1.50 to 1.00 or (iii) one quarter of one percent (0.25%) if Borrower’s and its Subsidiaries’ consolidated Liquidity Ratio for the most recently ended quarter was greater than 1.50 to 1.00.
Applicable Unused Fee Percentage means the applicable percentage for the Applicable Margin and the Applicable Unused Fee Percentage corresponding to the applicable Funded Debt Ratio set forth below, as calculated by the Administrative Agent based on the Company’s financial statements prepared in accordance with the provisions of Section 5.8 and delivered to the Administrative Agent. The Applicable Margin as of the Overline Closing Date, shall be 1.80% with respect to the Revolving Loans, 2.20% with respect to the Overline Loans and 2.00% with respect to the Term Loans. The Applicable Unused Fee Percentage as of the Overline Closing Date, shall be 0.125%. The Applicable Margin will be adjusted on a quarterly basis in accordance with the table set forth below: Funded Debt Ratio Applicable Margin for Revolving Loans Applicable Margin for Term Loans Applicable Margin for Overline Loans Applicable Unused Fee Percentage Less than 1.25 to 1. 1.60 % 1.80 % 2.00 % 0.10 % Greater than or equal to 1.25 to 1, and less than 1.75 to 1. 1.80 % 2.00 % 2.20 % 0.125 % Greater than or equal to 1.75 to 1, and less than 2.25 to 1. 2.00 % 2.20 % 2.40 % 0.15 % Greater than or equal to 2.25 to 1, and less than 2.75 to 1. 2.20 % 2.40 % 2.60 % 0.175 % Greater than or equal to 2.75 to 1, and less than 3.25 to 1. 2.40 % 2.60 % 2.80 % 0.20 % Greater than or equal to 3.25 to 1 2.60 % 2.80 % 3.00 % 0.25 % The Applicable Margin and the Applicable Unused Fee Percentage will be adjusted to the percentage corresponding to the applicable Funded Debt Ratio in effect as of the last day of each fiscal quarter of the Company. The adjustment will become effective as of the first day of the calendar month next succeeding delivery to the Administrative Agent of the Company’s financial statements and Covenant Compliance Certificate for the last month of each fiscal quarter pursuant to Section 5.8. No decrease in the Applicable Margin or the Applicable Unused Fee Percentage shall become effective if, at such time, any Event of Default has occurred and is continuing. If the Company’s financial statements are not delivered to the Administrative Agent within the specified time periods, the Applicable Margin and the Applicable Unused Fee Percentage may be increased, at the option of the Administrative Agent, or upon written notice from the Required Lenders to the Administrative Agent and the Company, to the highest applicable percentage from the date on which the statements were due through the date on which such statements are delivere...
Applicable Unused Fee Percentage means (i) one quarter one percent (0.25%) if the Total Leverage Ratio calculated pursuant to Section 6.7(c) hereof is less than or equal to 2.00 to 1.00 for the most recently ended measuring period and (ii) one half of one percent (0.50%) if the Total Leverage Ratio calculated pursuant to Section 6.7(c) hereof is greater than 2.00 to 1.00 for the most recently ended measuring period.
Applicable Unused Fee Percentage means, on any date, the rate per annum that is determined by reference to the following matrix: Applicable Margin Applicable ----------------- Unused Fee Percentage ---------- .75% 10 basis points .90% 10 basis points 1.00% 10 basis points 1.25% 10 basis points 1.50% 25 basis points 1.75% 37.5 basis points b. AMENDMENT TO SECTION 2.11(c). Section 2.11(c) is hereby amended and restated as follows:
Applicable Unused Fee Percentage means the per annum rate with respect to the unused portion of the Revolving Credit Commitments as follows: (a) from the date hereof until delivery of financial statements and a compliance certificate for the period ending September 30, 1996, as required hereunder, one-half of one percent (0.50%); and (b) thereafter, based on the Total Debt to EBITDA Ratio as of and for the most recent four (4) quarter period ending on or before the date of determination, the percentage set forth opposite such ratio below: Applicable Unused Fee Total Debt to EBITDA Ratio Percentage Less than 2.5 to 1.0 0.375% Greater than or equal to 2.50 to 1.0 0.50% The Applicable Unused Fee Percentage shall be adjusted, if necessary, at the same time as adjustments to the Applicable Margin.