Commitment Fee Margin means a per annum rate equal to the sum of the Adjusted LIBO Rate for such Interest Period plus 5.50%.
Commitment Fee Margin means the applicable percent per annum determined in accordance with Subsection 1.2(B).
Examples of Commitment Fee Margin in a sentence
This includes the failure of the California State Board of Equal- ization to address the problem of local assessors having substantial discretion over assessed valuations of property.
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.
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 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 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 has the meaning set forth in the definition of “Applicable Margin”.
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: Pricing Level Long-Term Senior Unsecured Non-Credit Enhanced Debt Rating of Borrower Applicable Percentage for Commitment Fees I. >A from S&P or >A2 from Xxxxx’x or >A from Fitch .07% II. A- from S&P or A3 from Moody’s or A- from Fitch .08% III. BBB+ from S&P or Baa1 from Moody’s or BBB+ from Fitch .10% IV. BBB from S&P or Baa2 from Moody’s or BBB from Fitch .125% V. BBB- from S&P or Baa3 from Moody’s or BBB- from Fitch .15% VI. BB+ from S&P or Ba1 from Moody’s or BB+ from Fitch .20% VII. < BB+ from S&P or < Ba1 from Moody’s or < BB+ from Fitch .25% 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 ...
Commitment Fee Margin means, at all times during the applicable periods set forth below, the percentage set forth below under the heading "Commitment Fee" and adjacent to such period: WHEN THE LEVERAGE RATIO IS GREATER AND EQUAL TO OR COMMITMENT THAN LESS THAN FEE ---- --------- ----------- 4.00:1.00 0.500% 4.00:1.00 0.375% Changes in the Commitment Fee Margin resulting from a change in the Leverage Ratio shall be based upon the certificate most recently delivered under Section 6.1(e) and shall become effective on the Rate Change Date with respect thereto. Notwithstanding anything to the contrary in this definition, if the Borrower shall fail to deliver to the Administrative Agent any such certificate on or prior to any date required hereby, the Leverage Ratio for purposes of this defined term only shall be deemed to be greater than 4.00:1.00 from and including such date to the earlier of (a) delivery of such certificate, and (b) the next succeeding Rate Change Date.
Commitment Fee Margin means the corresponding percentages set forth below: Then the Commitment Fee Tier If the Total Leverage Ratio is: Margin is 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 means, (a) for the period from the Closing Date until the first redetermination hereunder, 50.0 basis points per annum, and (b) for each period thereafter (each such period commencing 31 days after the end of each fiscal quarter of the Parent and ending 31 days after the end of the next fiscal quarter of the Parent) the basis points per annum set forth in the table below opposite the Leverage Ratio for the four immediately preceding fiscal quarterly periods: -------------------------------------------------------------- COMMITMENT FEE LEVERAGE RATIO -------------------------------------------------------------- 50.0 bps 2.50 < x < 2.75 - -------------------------------------------------------------- 45.0 bps 2.00 < x < 2.50 - -------------------------------------------------------------- 37.5 bps 1.50 < x < 2.00 - -------------------------------------------------------------- 25.0 bps x < 1.50 - -------------------------------------------------------------- Each determination of the Commitment Fee Margin shall be determined by the Agent for each such period after its receipt of the applicable Compliance Certificate delivered pursuant to Section 9.1. Each change in the Commitment Fee Margin shall be immediately effective commencing on the 31st day after each fiscal quarter and remain effective until the next determination. If the Parent fails to timely deliver the Compliance Certificate as required by Section 9.1, the Commitment Fee Margin shall be at the next highest level until such Compliance Certificate is delivered.