Applicable Unused Line Fee Rate means (a) for any date prior to the date of the Spin-Off, a percentage per annum equal to the percentage set forth below determined by reference to the higher of (i) the rating of Kraft Foods’ long-term senior unsecured Debt from Standard & Poor’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Kraft Foods, the long-term company, issuer or similar rating established by Standard & Poor’s for Kraft Foods) and (ii) the rating of Kraft Foods’ long-term senior unsecured Debt from Moody’s, in each case on such date (or, if there shall be no outstanding rated long-term senior unsecured Debt of Kraft Foods, the long-term company, issuer or similar rating established by Moody’s for Xxxxx Foods), and (b) for any date on or following the date of the Spin-Off, a percentage per annum equal to the percentage set forth below determined by reference to the higher of (i) the rating of Kraft Foods Group’s long-term senior unsecured Debt from Standard & Poor’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Kraft Foods Group, the long-term company, issuer or similar rating established by Standard & Poor’s for Kraft Foods Group) and (ii) the rating of Kraft Foods Group’s long-term senior unsecured Debt from Moody’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Kraft Foods Group, the long-term company, issuer or similar rating established by Moody’s for Xxxxx Foods Group), in each case on such date: Long-Term Senior Unsecured Debt Rating Applicable Unused Line Fee Rate A or higher by Standard & Poor’s A2 or higher by Moody’s 0.0850 % A- by Standard & Poor’s A3 by Moody’s 0.100 % BBB+ by Standard & Poor’s Baa1 by Moody’s 0.125 % BBB by Standard & Poor’s Baa2 by Moody’s 0.150 % BBB- by Standard & Poor’s Baa3 by Moody’s 0.225 % Lower than BBB- by Standard & Poor’s Lower than Baa3 by Moody’s 0.275 % provided that if on any date of determination (x) a rating is available on such date from only one of Standard & Poor’s and Moody’s but not the other, the Applicable Unused Line Fees Rate shall be determined by reference to the then available rating; (y) no rating is available from either of Standard & Poor’s or Moody’s, the Applicable Unused Line Fees Rate shall be determined by reference to the rating of any other nationally recognized statistical rating organization designated by Kraft Foods Group and approved in writing by the Required Lenders; and (z) no rating is available from any of S...
Applicable Unused Line Fee Rate means 0.375% per annum as adjusted in accordance with the determination of Applicable Margin.
Applicable Unused Line Fee Rate means the Applicable Pro Rata Unused Line Fee Rate or the Applicable Term Unused Line Fee Rate, as the context may require.
Examples of Applicable Unused Line Fee Rate in a sentence
Borrowers shall pay to Agent, for the pro rata benefit of Lenders (based upon each Lender’s Applicable Percentage of the aggregate Revolver Commitments), a fee equal to the Applicable Unused Line Fee Rate times the amount by which the aggregate Revolver Commitments exceed the average daily balance of Revolver Loans and stated amount of Letters of Credit during any month.
U.S. Borrowers shall pay to the Agent, for the Pro Rata benefit of U.S. Lenders, a fee equal the Applicable Unused Line Fee Rate times the average daily amount by which the U.S. Revolver Commitments exceed the U.S. Revolver Exposure during any month.
UK Borrowers shall pay to the Agent, for the Pro Rata benefit of UK Lenders, a fee equal to the Applicable Unused Line Fee Rate times the average daily amount by which the UK Revolver Commitments exceed the UK Revolver Exposure during any month.
Canadian Borrowers shall pay to the Agent, for the Pro Rata benefit of Canadian Lenders, a fee equal to the Applicable Unused Line Fee Rate times the average daily amount by which the Canadian Revolver Commitments exceed the Canadian Revolver Exposure during any month.
Section 7.1(a) of the Credit --------------------------- Agreement is hereby amended to delete in its entirety the reference to "and the Applicable Prime Rate Margin," therein and to substitute in lieu thereof ", the Applicable Prime Rate Margin and the Applicable Unused Line Fee Rate,".
More Definitions of Applicable Unused Line Fee Rate
Applicable Unused Line Fee Rate means, at the time of determination:
Applicable Unused Line Fee Rate means, as of any date of determination (a) prior to April 1, 2017, 0.50% per annum and (b) on and after April 1, 2017, the per annum rate set forth in the table below that corresponds to the daily amount of Availability: 074658.16087/130783594v.4 Availability Amount Applicable Unused Line Fee Rate Greater than or equal to 50% of the Maximum Revolver Amount 0.50% Less than 50% of the Maximum Revolver Amount 0.25%
Applicable Unused Line Fee Rate means the rate for any day to be used to calculate commitment fees payable by the Borrowers pursuant to Section 4.05(b), expressed as a percentage and determined from the chart set forth below based on the Fixed Charge Coverage Ratio (as determined from time to time in accordance with Section 7.09, whether or not Section 7.09 is then in effect): ------------ ------------------------------------------------------ --------------------------------------- Level Fixed Charge Coverage Ratio (as determined from time Applicable Unused Line to time in accordance with Section 7.09, whether or Fee Rate not Section 7.09 is then in effect) ------------ ------------------------------------------------------ --------------------------------------- I Less than or equal to 1.00 to 1.00 1.00 ------------ ------------------------------------------------------ --------------------------------------- II Greater than 1.00 to 1.00 but less than or equal to 0.75 1.25 to 1.00 ------------ ------------------------------------------------------ --------------------------------------- III Greater than 1.25 to 1.00 but less than or equal to 0.625 1.50 to 1.00 ------------ ------------------------------------------------------ --------------------------------------- IV Greater than 1.50 to 1.00 but less than or equal to 0.50 1.75 to 1.00 ------------ ------------------------------------------------------ --------------------------------------- V Greater than 1.75 to 1.00 but less than Or equal to 0.50 2.00 to 1.00 ------------ ------------------------------------------------------ --------------------------------------- VI Greater than 2.00 to 1.00 0.375 ------------ ------------------------------------------------------ --------------------------------------- Each change in the Applicable Unused Line Fee Rate resulting from a change in the Fixed Charge Coverage Ratio (as determined from time to time in accordance with Section 7.09, whether or not Section 7.09 is then in effect) shall be effective from and after the date that is ten (10) Business Days after the date of delivery to the Domestic Agent of the financial statements and certificates required by Sections 7.07(a), (b), and (c), as applicable, indicating such change, until the date that is ten (10) Business Days immediately following the next date of delivery of such financial statements and certificates indicating another such change. Notwithstanding the foregoing, (i) from the Closing Date through the date that is ten (10) Bu...
Applicable Unused Line Fee Rate means, as to the calculation of the unused line fee to be charged by Agent in accordance with Section 3.2(a) hereof: (a) for the period from the date hereof through and including September 30, 2011, one-half of one (0.50%) percent per annum, and (b) all times thereafter, (i) if the average daily principal balance of the outstanding Revolving Loans and Letters of Credit (other than banker’s acceptances to the extent that cash collateral has been deposited in the Banker’s Acceptance Cash Collateral Accounts in accordance with Section 2.2(l) hereof) during the immediately preceding month (or part thereof) is less than or equal to fifty (50%) percent of the Maximum Credit and if EBITDA of Parent and its Subsidiaries, on a consolidated basis for the immediately preceding twelve (12) consecutive fiscal months is less than $90,000,000, one-half of one (0.50%) percent per annum, and (ii) if the average daily principal balance of the outstanding Revolving Loans and Letters of Credit (other than banker’s acceptances to the extent that cash collateral has been deposited in the Banker’s Acceptance Cash Collateral Accounts in accordance with Section 2.2(l) hereof) during the immediately preceding month (or part thereof) is greater than fifty (50%) percent of the Maximum Credit or if EBITDA of Parent and its Subsidiaries, on a consolidated basis for the immediately preceding twelve (12) consecutive fiscal months is equal to or greater than $90,000,000, three-eighths (0.375%) percent per annum.
Applicable Unused Line Fee Rate for any month, with respect to the fees payable pursuant to Section 3.2.1 for any Borrower Group, the rate per annum set forth below under the caption “Unused Line Fee Rate”, based upon the Average Utilization of the Applicable Borrower Group during the preceding calendar month; provided that until the end of the first full calendar month after the Closing Date, the Applicable Unused Line Fee Rate for each Borrower Group shall be determined as if Level II were applicable: Level Average Utilization Unused Line Fee Rate I < 33% 0.500% II ≥ 33% but < 66% 0.375% III ≥ 66% 0.250% Approved Fund: any Person (other than a natural person) that is engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in its ordinary course of activities, has the capacity to fund Revolver Loans hereunder, and is administered or managed by a Lender, an entity that administers or manages a Lender, or an Affiliate of either.
Applicable Unused Line Fee Rate means, for any date, a percentage per annum equal to the percentage set forth below determined by reference to the higher of (i) the rating of Kraft Foods’ long-term senior unsecured Debt from Standard & Poor’s and (ii) the rating of Kraft Foods’ long-term senior unsecured Debt from Moody’s, in each case on such date: BBB+ or higher by Standard & Poor’s Baal or higher by Moody’s 0.350% BBB by Standard & Poor’s Baa2 by Moody’s 0.500% BBB- or lower by Standard & Poor’s Baa3 or lower by Moody’s 0.625% provided that if on any date of determination (x) a rating is available on such date from only one of Standard & Poor’s and Moody’s but not the other, the Applicable Unused Line Fees Rate shall be determined by reference to the then available rating; and (y) no rating is available from any of Standard & Poor’s, Moody’s or any other nationally recognized statistical rating organization designated by Kraft Foods and approved in writing by the Required Lenders, the Applicable Unused Line Fees Rate shall be 0.625%.
Applicable Unused Line Fee Rate means a rate per annum, determined by reference to the following grid based on the Average Usage as a percentage of the Revolving Credit Commitment during the immediately preceding calendar month: Average Usage Unused Line Fee Rates > 50.0% 0.250% < 50.0% 0.375% The above pricing matrix does not modify or waive, in any respect, the rights of the Agent and the Lenders pursuant to Article VIII and IX hereof.