Commercial Letter of Credit Fee has the meaning specified in Section 2.03(i).
Commercial Letter of Credit Fee shall have the meaning set forth in Section 2.4(c).
Commercial Letter of Credit Fee means with respect to any Commercial Letter of Credit issued hereunder and the Existing Letters of Credit which are Commercial Letters of Credit, the applicable percentage specified corresponding to the Average Excess Availability, as set forth below, subject to adjustment from time to time thereafter: Level Average Excess Availability Applicable Percentage I Greater than 50% of the Loan Cap 0.625 % II Less than or equal to 50% of the Loan Cap 0.750 % From the Effective Date through the last day of the first full Fiscal Quarter following the Effective Date (ending May 2, 2015), the Commercial Letter of Credit Fee shall be 0.750% per annum. The Commercial Letter of Credit Fee Percentage shall thereafter be adjusted quarterly upon the Administrative Agent’s furnishing the Lead Borrower with a calculation of Average Excess Availability for the immediately preceding Fiscal Quarter, which calculation shall be furnished within four (4) Business Days after the end of each Fiscal Quarter. Any such adjustment shall become effective prospectively on and after the sixth Business Day after the end of each Fiscal Quarter. If a Default or Event of Default exists at the time any reduction in the Commercial Letter of Credit Fee is to be implemented, such reduction shall not occur until the first day of the first calendar month following the date on which such Default or Event of Default is waived or cured, and at the option of the Administrative Agent or at the direction of the Required Lenders upon the occurrence and during the continuance of an Event of Default, the Commercial Letter of Credit Fee shall be set at the Level II and shall be determined in the manner set forth in Section 2.14(a)(iii) hereof; provided further if any Borrowing Base Certificates are at any time restated or otherwise revised (including as a result of an audit) or if the information set forth in any Borrowing Base Certificates otherwise proves to be false or incorrect as of the date of such Borrowing Base Certificate such that the Commercial Letter of Credit Fee would have been higher than was otherwise in effect during any period, without constituting a waiver of any Default or Event of Default arising as a result thereof, such Commercial Letter of Credit Fee due under this Agreement shall be immediately recalculated at such higher rate for any applicable periods and shall be due and payable on demand.
Examples of Commercial Letter of Credit Fee in a sentence
Letter of Credit Fees shall mean, collectively, the Standby Letter of Credit Fee and the Commercial Letter of Credit Fee.
The Applicable Margin, the Applicable Commitment Fee Rate, the Applicable Standby Letter of Credit Fee Rate and the Applicable Commercial Letter of Credit Fee Rate shall be recomputed as of the end of each fiscal quarter ending after the Closing Date based on the Net Leverage Ratio as of such quarter end.
HC shall not, under any circumstances, xxxx DOH, NEW YORK CITY, its officers, agents or employees, or an Enrollee or an Enrollee's eligible dependents or impose a surcharge on an Enrollee for Covered Services.
A pplicable Letter of Credit Fee Rate shall mean the percentage rate per annum based on the Leverage Ratio thenin effect according to the pricing grid on S chedule 1.1(A) below the heading "Standby Letter of Credit Fee" or "Commercial Letter of Credit Fee", as applicable.
Each Commercial Letter of Credit: At the then applicable Commercial Letter of Credit Fee.
More Definitions of Commercial Letter of Credit Fee
Commercial Letter of Credit Fee means with respect to any Commercial Letter of Credit issued hereunder:
Commercial Letter of Credit Fee means -------------------------------
Commercial Letter of Credit Fee means one and one-half percent (1.5%) per annum of the principal amount of each Commercial Letter of Credit.
Commercial Letter of Credit Fee means with respect to any Commercial Letter of Credit issued hereunder and the Existing Letters of Credit which are Commercial Letters of Credit, the applicable percentage specified corresponding to the Average Excess Availability, as set forth below, subject to adjustment from time to time thereafter: Level Average Excess Availability Applicable Percentage I Greater than 50% of the Loan Cap 0.625% II Less than or equal to 50% of the Loan Cap 0.750% From
Commercial Letter of Credit Fee means with respect to any Commercial Letter of Credit issued hereunder and the Existing Letters of Credit which are Commercial Letters of Credit, the applicable percentage specified corresponding to the Average Excess Availability, as set forth below, subject to adjustment from time to time thereafter:
Commercial Letter of Credit Fee means the fee payable to the ------------------------------- Lenders pursuant to Section 3.4(b)(ii).
Commercial Letter of Credit Fee means .25%.