Unused Commitment Fee Rate definition

Unused Commitment Fee Rate has the meaning given to such term in the Fee Letter.

Unused Commitment Fee Rate means a rate per annum determined in accordance with the Pricing Schedule.

Unused Commitment Fee Rate means the applicable percentage set forth below the column entitled “Unused Commitment Fee Rate” in the table in the definition of “Applicable Margin”.

Examples of Unused Commitment Fee Rate in a sentence

• Accruing from the Closing Date until the Term Loan Commitment Termination Date, the Borrowers agree to pay to the Lender a nonrefundable unused commitment fee (the “Unused Commitment Fee”) equal to the Unused Commitment Fee Rate (computed on the basis of a year of 360 days and actual days elapsed) multiplied by the average daily difference between (i) the Term Loan Amount and (ii) the aggregate principal amount of Term Loans actually funded under the Term Loan Facility.

• The unused commitment fee shall be calculated quarterly in arrears, and if there is any change in the Unused Commitment Fee Rate during any quarter, the actual daily amount shall be computed and multiplied by the Unused Commitment Fee Rate separately for each period during such quarter that such Unused Commitment Fee Rate was in effect.

• The Borrowers agree to pay to the Agent for the account of each Lender in accordance with its Commitment Percentage, a commitment fee equal to the Unused Commitment Fee Rate multiplied by the actual daily amount by which the Aggregate Commitments exceed the Total Revolving Credit Outstandings.

• Any increase or decrease in the Applicable Margin, the Applicable Revolving Unused Commitment Fee Rate or the Applicable Letter of Credit Fee Rate computed as of a quarter end shall be effective no later than five Business Days following the date on which the Compliance Certificate evidencing such computation is delivered under Section 6.1(c).

• The Borrower shall pay to Administrative Agent for the ratable benefit of the Lenders an unused commitment fee (the "Unused Commitment Fee") equivalent to the Unused Commitment Fee Rate times the daily average of the unadvanced amount of the Commitment.

More Definitions of Unused Commitment Fee Rate

Unused Commitment Fee Rate means 0.375% per annum.

Unused Commitment Fee Rate means 1.25% per annum.

Unused Commitment Fee Rate means, for any day, a percentage per annum equal to 0.20% per annum.

Unused Commitment Fee Rate means, for any relevant date, (i) prior to the First Amendment Effective Date, 0.50% per annum, (ii) on and after the First Amendment Effective Date and until delivery of the financial statements for the Fiscal Quarter ending December 31, 2020 pursuant to Section 7.01(b) 0.40% per annum, and (iii) thereafter, the applicable percentage per annum set forth below, as determined by reference to the First Lien Net Leverage Ratio as of the last day of the most recently ended consecutive four Fiscal Quarter period, as set forth in the most recent Compliance Certificate delivered pursuant to Section 7.02(b): Unused Commitment Fee Rate Pricing Level Senior Secured Net Leverage Ratio Applicable Unused Commitment Fee Rate 1 Less than 1.00:1.00 0.35% 2 Less than 2.00:1.00 but greater than or equal to 1.00:1.00 0.40% 3 Less than 3.00:1.00 but greater than or equal to 2.00:1.00 0.45% 4 Less than 3.50:1.00 but greater than or equal to 3.00:1.00 0.50% Any increase or decrease in the Unused Commitment Fee Rate resulting from a change in the First Lien Net Leverage Ratio shall become effective as of the first Business Day immediately following the date the applicable Compliance Certificate is delivered pursuant to Section 7.02(b); provided, however, that at the option of the Required Revolving Lenders, “Pricing Level 4” shall apply without regard to the First Lien Net Leverage Ratio (x) at any time after the date on which any annual or quarterly financial statement was required to have been delivered pursuant to Section 7.01(a) or Section 7.01(b) but was not delivered (or the Compliance Certificate related to such financial statement was required to have been delivered pursuant to Section 7.02(b) but was not delivered), commencing with the first Business Day immediately following such date and continuing until the first Business Day immediately following the date on which such financial statement is delivered (or, if such day is a later date, the first Business Day immediately following the date on which such Compliance Certificate related to such financial statement is delivered) and indicates that “Pricing Level 1”, “Pricing Level 2” or “Pricing Level 3” shall apply or (y) at all times if an Event of Default shall have occurred and be continuing.”

Unused Commitment Fee Rate shall be:

Unused Commitment Fee Rate means 0.50% per annum.

Unused Commitment Fee Rate means (i) for an initial period commencing on the Effective Date and ending on the first day of the month immediately following the month in which the Servicer delivers PolyOne’s financial statements for the Fiscal Period ending June 30, 2007, 0.250% per annum, and (ii) thereafter, as of any date of determination, a per annum rate equal to the rate set forth below opposite the then applicable Average Monthly Excess Availability (determined on the last day of the most recently concluded calendar month for which financial statements have been delivered): 20 Average Monthly Excess Availability Unused Commitment Fee Rate Greater than $120,000,000 0.375 % Less than or equal to $120,000,00 and greater than $60,000,000 0.250 % Less than or equal to $60,000,000 0.250 % provided, however, that upon the occurrence and during the continuance of an Event of Termination, the “Unused Commitment Fee Rate” shall be the highest rate set forth in the table above. Changes in the Unused Commitment Fee Rate resulting from a change in the Average Monthly Excess Availability for any month shall become effective on the first day of the next consecutive calendar month.