Commitment Fee Margin definition

Commitment Fee Margin means a per annum rate equal to 0.50%.

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Commitment Fee Margin means the applicable percent per annum determined in accordance with Subsection 1.2(B).

Commitment Fee Margin means a per annum rate equal to the sum of the Adjusted LIBO Rate for such Interest Period plus 5.50%.

Examples of Commitment Fee Margin in a sentence

• For any quarter during the Term where the average daily unpaid balance of the Advances outstanding for each day of the quarter does not equal the Maximum Advance Amount, then Borrower shall pay to Agent for the ratable benefit of Lenders a fee at a rate per annum equal to the Applicable Commitment Fee Margin on the amount by which the Maximum Advance Amount exceeds such average daily unpaid balance during such quarter.

• Such Compliance Certificate shall be used for the determination of the Applicable Margin as to all Loans and the Applicable Commitment Fee Margin.

• In addition to certain fees described in Section 3.08, the Borrowers shall pay to the Agent, for the account of each Lender in accordance with its Pro Rata Share, a commitment fee on the average daily unused portion of the Aggregate Commitment during each fiscal quarter based upon the daily utilization for that quarter as calculated by the Agent, equal to the Commitment Fee Margin multiplied by the average of the daily unused portion.

• The Borrower shall pay to the Agent, for the pro rata account of each Bank, a commitment fee at a rate per annum equal to the Applicable Commitment Fee Margin on the daily average unused amount of such Bank's Revolving Credit Commitment, for the period from and including the date of the First Amendment to but excluding the earlier of the date Revolving Credit Commitments are terminated or the Revolving Credit Termination Date.

• The commitment fee shall be calculated monthly in arrears, and if there is any change in the Applicable Commitment Fee Margin during any month, the actual daily amount shall be computed and multiplied by the Applicable Commitment Fee Margin separately for each period during such month that such Applicable Commitment Fee Margin was in effect.

More Definitions of Commitment Fee Margin

Commitment Fee Margin has the meaning set forth in the definition of “Applicable Margin”.

Commitment Fee Margin means, as at any date of determination, the rate per annum then applicable determined in accordance with the provisions of Section 2.07(b) hereof.

Commitment Fee Margin means 0.25% per annum.

Commitment Fee Margin means Commitment Fees payable by the Borrower, the appropriate applicable percentages, in each case, corresponding to the Rating of the Borrower in effect from time to time as shown below: I. ³A from S&P or .07 % ³A2 from ▇▇▇▇▇’▇ or ³A from Fitch II. A- from S&P or .08 % A3 from Moody’s or A- from Fitch III. BBB+ from S&P or .10 % Baa1 from Moody’s or BBB+ from Fitch IV. BBB from S&P or .125 % Baa2 from Moody’s or BBB from Fitch V. BBB- from S&P or .15 % Baa3 from Moody’s or BBB- from Fitch VI. BB+ from S&P or .20 % Ba1 from Moody’s or BB+ from Fitch VII. < BB+ from S&P or .25 % < Ba1 from Moody’s or < BB+ from Fitch Notwithstanding the above, if at any time there is a split in Ratings among S&P, Moody’s and Fitch and (i) two Ratings are equal and higher than the third, the higher Rating will apply, (ii) two Ratings are equal and lower than the third, the lower Rating will apply or (iii) no Ratings are equal, the intermediate Rating will apply. In the event that the Borrower shall maintain Ratings from only two of S&P, Moody’s and Fitch and the Borrower is split-rated and (x) the Ratings differential is one level, the higher Rating will apply and (y) the Ratings differential is two levels or more, the level one level lower than the higher Rating will apply. The Commitment Fee Margin shall be determined and adjusted on the date of any applicable change in the Rating of the Borrower. The Commitment Fee Margin payable by the Borrower shall be the appropriate applicable percentages from time to time, as shown above, calculated based on the Ratings of the Borrower at such time. These Ratings shall be determined based upon the Rating for the Borrower in effect on such day as published by S&P, Moody’s and Fitch; it being understood that the initial Commitment Fee Margin is based on Pricing Level III (as shown above) and shall remain at Pricing Level III until a change in the Ratings of the Borrower. The Borrower shall at all times maintain a Rating from at least two of S&P, Moody’s and Fitch. If at any time the Borrower does not have a Rating from at least two of S&P, Moody’s and Fitch, the Commitment Fee Margin shall be set at Pricing Level VII. The Borrower shall promptly deliver to the Administrative Agent, at the address set forth on Schedule 12.1, information regarding any change in the Rating of the Borrower that would change the existing Pricing Level (as set forth in the chart above) and/or the Commitment Fees.

Commitment Fee Margin means, subject to Section 2.6(e), the corresponding percentages per annum as set forth below based on the Total Leverage Ratio: I Greater than 2.00 to 1.00 0.375 % II Greater than 1.00 to 1.00, but less than or equal to 2.00 to 1.00 0.350 % III Less than or equal to 1.00 to 1.00 0.300 % The Commitment Fee Margin on and after the Borrowing Limit Election Date shall be determined and adjusted quarterly on the date five (5) Business Days after the day on which the Borrower provides a Compliance Certificate pursuant to Section 5.6 for the most recently ended fiscal quarter of the Borrower (each such date, a “Calculation Date”); provided that (a) until the first Calculation Date occurring after the Borrowing Base Limit Election Date the Commitment Fee Margin shall be based on the Total Leverage Ratio for the most recently ended fiscal quarter that is certified in the Borrowing Limit Election Notice, and (b) if the Borrower fails to provide the Compliance Certificate when due as required by Section 5.6, the Commitment Fee Margin from the date on which such Compliance Certificate was required to have been delivered shall be based on Pricing Level I until such time as such Compliance Certificate is delivered, at which time the Pricing Level shall be determined by reference to the Total Leverage Ratio set forth in such Compliance Certificate. The applicable Pricing Level on and after the Borrowing Limit Election Date shall be effective from one Calculation Date until the next Calculation Date. Any adjustment in the Pricing Level on and after the Borrowing Limit Election Date shall be applicable to all Advances and Letters of Credit then existing or subsequently made or issued. For the avoidance of doubt, the Pricing Levels on and after the Borrowing Limit Election Date set forth above in this paragraph (b) are set forth from highest (Level I) to the lowest (Level III).

Commitment Fee Margin means the corresponding percentages set forth below: 1 Less than or equal to 1.50 to 1.00 0.35 % 2 Greater than 1.50 to 1.00, but less than or equal to 2.50 to 1.00 0.45 % 3 Greater than 2.50 to 1.00, but less than or equal to 3.00 to 1.00 0.60 % 4 Greater than 3.00 to 1.00 0.75 % On the date hereof the Commitment Fee Margin shall be set at Tier 1 above, and thereafter shall be determined and adjusted quarterly on each Adjustment Date; provided, however, that if the Parent Borrower, fails to provide the Compliance Certificate as required by Section 8.2 for the most recently ended fiscal quarter of the Parent Borrower preceding the applicable Adjustment Date, the Commitment Fee Margin from such Adjustment Date shall be based on Tier 4 until such time as an appropriate Compliance Certificate is provided, at which time the Tier shall be determined by reference to the Total Leverage Ratio as of the last day of the most recently ended fiscal quarter of the Borrowers preceding such Adjustment Date. The Commitment Fee Margin shall be effective from one Adjustment Date until the next Adjustment Date. Any adjustment in the Applicable Margins shall be applicable to all Loans then existing or subsequently made or issued.

Commitment Fee Margin is hereby added to Section 1.1 of the Original Agreement immediately after the definition of "Collateral" where it appears in such Section: