Unused Line Margin definition

Unused Line Margin the percentage set forth below, as determined by the Line Usage for the prior month: Level Line Usage Unused Line Margin I Greater than 67% 0.50 % II Less than or equal to 67%, but greater than 25% 0.625 % III Less than or equal to 25% 0.75 % Notwithstanding the forgoing, from the date hereof until the first day of the month immediately following the date which is 90 days after the date hereof, the Unused Line Margin shall be determined as if Level II were applicable regardless of the Line Usage for the last month. Thereafter, the Unused Line Margin shall be subject to increase or decrease based upon the Line Usage for the prior month, as determined by Agent. If by the first day of a month, any Borrowing Base Certificate due in the preceding month has not been received, then, at the option of Agent or Required Lenders, the Unused Line Margin shall be determined as if Level III were applicable, from such day until the first day of the calendar month following actual receipt.
Sample 1Sample 2
Unused Line Margin the percentage set forth below, as determined by the Line Usage for the prior month: Level Line Usage Unused Line Margin I Greater than 35% 0.25% II Less than or equal to 35% 0.375% The Unused Line Margin shall be subject to increase or decrease based upon the Line Usage for the prior month, as determined by Agent. If by the first day of a month, any Borrowing Base Certificate due in the preceding month has not been received, then, at the option of Agent or Required Lenders, the Unused Line Margin shall be determined as if Level II were applicable, from such day until the first day of the calendar month following actual receipt.”
Sample 1
Unused Line Margin the percentage set forth below, as determined by the Line Usage for the prior calendar month: Level Line Usage Unused Line Margin I Greater than or equal to 50% 0.25 % II Less than 50% 0.375 % Notwithstanding the forgoing, from the Eighth Amendment Effective Date until November 30, 2013, the Unused Line Margin shall be determined as if Level II were applicable. Thereafter, the Unused Line Margin shall be subject to increase or decrease based upon the Line Usage for the prior month, as determined by Agent. If by the first day of a month, any Borrowing Base Certificate due in the preceding month has not been received, then, at the option of Agent or Required Lenders, the Unused Line Margin shall be determined as if Level II were applicable, from such day until the first day of the calendar month following actual receipt. Value: (a) for Inventory, its value determined on the basis of the lower of cost or market, calculated on a first-in, first-out basis, and excluding any portion of cost attributable to intercompany profit among Borrowers and their Affiliates; and (b) for an Account, its face amount, net of any returns, rebates, discounts (calculated on the shortest terms), credits, allowances or Taxes (including sales, excise or other taxes) that have been or could be claimed by the Account Debtor or any other Person.
Sample 1

Examples of Unused Line Margin in a sentence

  • If within thirty (30) days after the end of any month it is determined that a lower Applicable Margin or Unused Line Margin should have applied to the prior month than was actually applied, and Borrower Agent sends notice to Agent within such thirty (30) days, the Borrowers shall receive a credit from Agent in an amount equal to the difference between the amount actually paid for such month and the amount of interest and fees that would have accrued using the proper margin.

  • Borrowers shall pay to Agent, for the Pro Rata benefit of Lenders, a fee equal to the Unused Line Margin per annum times the amount by which the Revolver Commitments exceed the average daily balance of Revolver Loans and LC Obligations during any month.

  • Borrowers shall pay to Agent, for the Pro Rata benefit of Lenders, a fee equal to the Unused Line Margin per annum times the amount by which the Revolver Commitments exceed the average daily balance of Revolver Loans and stated amount of Letters of Credit during any month.

  • Borrowers shall pay to Agent, for the Pro Rata benefit of Lenders, a fee equal to the Unused Line Margin per annum times the amount by which the Revolver Commitments (minus the Availability Block) exceed the average daily balance of Revolver Loans and stated amount of Letters of Credit during any month.


More Definitions of Unused Line Margin

Unused Line Margin means, as of any date of determination, the percentage points set forth below based upon the Average Daily Excess Availability for the immediately preceding calendar quarter, as determined by Agent in its Permitted Discretion: Level Average Daily Excess Availability Unused Line Margin I If Average Daily Excess Availability is greater than $25,000,000 0.50 percentage points II If Average Daily Excess Availability is greater than or equal to $10,000,000 but less than or equal to $25,000,000 0.625 percentage points III If Average Daily Excess Availability is less than $10,000,000 0.75 percentage points ; provided, however, that for the period commencing on the Closing Date through the end of October 31, 2009, the Unused Line Margin shall be the percentage points specified for Pricing Level II as set forth in this definition; provided, further, however, that if the Borrowers fail to provide any reports or certifications required to determine the Average Daily Excess Availability when due, the Unused Line Margin shall be set at the percentage points specified for Pricing Level III until such reports or certifications are delivered, on which date (but not retroactively), without constituting a waiver of any Default or Event of Default occasioned by the failure to timely deliver such reports or certifications, the Unused Line Margin shall be set at the percentage based upon the calculation determined pursuant to such reports or certifications. For purposes of the preceding sentence (and subject to the forgoing provisos), at the end of each calendar quarter Agent will test the Borrowers’ Average Daily Excess Availability, which amount will be based upon reports and certifications delivered to Agent in accordance with the terms of this Agreement. If any such reports or certifications are subsequently determined to be incorrect in any material respect in a manner that would result in a lower Average Daily Excess Availability, Agent may increase the Unused Line Margin retroactively to the beginning of the relevant quarter to the extent that such error caused the applicable Unused Line Margin to be less than the Unused Line Margin that would have been in effect if the error was not made.
Sample 1Sample 2
Unused Line Margin the percentage set forth below, as determined by the Line Usage for the prior calendar month: Level Line Usage Unused Line Margin I Greater than 50% 0.25 % II Less than or equal to 50%, but greater than 25% 0.375 % III Less than or equal to 25% 0.50 % Notwithstanding the forgoing, from the date hereof until the first day of the month immediately following the date hereof, the Unused Line Margin shall be determined as if Level III were applicable. Thereafter, the Unused Line Margin shall be subject to increase or decrease based upon the Line Usage for the prior month, as determined by Agent. If by the first day of a month, any Borrowing Base Certificate due in the preceding month has not been received, then, at the option of Agent or Required Lenders, the Unused Line Margin shall be determined as if Level III were applicable, from such day until the first day of the calendar month following actual receipt. Value: (a) for Inventory, its value determined on the basis of the lower of cost or market, calculated on a first-in, first-out basis, and excluding any portion of cost attributable to intercompany profit among Borrowers and their Affiliates; and (b) for an Account, its face amount, net of any returns, rebates, discounts (calculated on the shortest terms), credits, allowances or Taxes (including sales, excise or other taxes) that have been or could be claimed by the Account Debtor or any other Person.
Sample 1
Unused Line Margin means one-half of one percent (.5%) per annum; provided, that the "Unused Line Margin" shall mean three-eighths of one percent (.375%) per annum at all times during a Step-Down Period.
Sample 1

Related to Unused Line Margin

  • Applicable Unused Line Fee Margin means the per annum fee, from time to time in effect, payable in respect of Borrowers’ non-use of committed funds pursuant to Section 1.9(b), which fee is determined by reference to Section 1.5(a).

  • Applicable Unused Line Fee Percentage means, as of any date of determination, the applicable percentage set forth in the following table that corresponds to the Average Revolver Usage of Borrowers for the most recently completed month as determined by Agent in its Permitted Discretion; provided, that for the period from the Closing Date through and including February 28, 2015, the Applicable Unused Line Fee Percentage shall be set at the rate in the row styled "Level II"; provided further, that any time an Event of Default has occurred and is continuing, the Applicable Unused Line Fee Percentage shall be set at the margin in the row styled "Level II": Level Average Revolver Usage Applicable Unused Line Fee Percentage I > 50% of the Maximum Revolver Amount 0.25 percentage points II < 50% of the Maximum Revolver Amount 0.375 percentage points The Applicable Unused Line Fee Percentage shall be re-determined on the first date of each fiscal month of Borrowers by Agent.

  • Applicable Commitment Fee Margin means, for each Pricing Period, the margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: Applicable Pricing Level Margin II 10.0 V 17.5

  • Unused Line Fee has the meaning specified in Section 2.5.

  • Applicable Margin means, with respect to Advances of any Type at any time, the percentage rate per annum which is applicable at such time with respect to Advances of such Type as set forth in the Pricing Schedule.

  • Applicable Unused Commitment Fee Rate means 0.50% per annum.

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

  • Base Rate Margin has the meaning set forth in the definition of Applicable Margin.

  • Facility Fee Rate means a rate per annum determined in accordance with the Pricing Schedule.

  • Applicable Commitment Fee Rate means:

  • Unused Fee Rate means 0.50% per annum.

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

  • Applicable LIBOR Rate Margin means the following per annum percentages, applicable in the following situations:

  • Applicable Base Rate Margin means, on any day, a rate per annum equal to the higher of (a) the Applicable Eurocurrency Margin for such day minus 1.00% and (b) 0.00%.

  • LIBOR Rate Margin has the meaning set forth in the definition of Applicable Margin.

  • Undrawn Fee Rate For any VFN Class, the rate set forth or described in the related Indenture Supplement, if any. United States and U.S.: The United States of America.

  • Note Margin With respect to each Mortgage Loan, the fixed percentage set forth in the related Mortgage Note and indicated in Exhibit One hereto as the "NOTE MARGIN," which percentage is added to the Index on each Adjustment Date to determine (subject to rounding in accordance with the related Mortgage Note, the Periodic Cap, the Maximum Mortgage Rate and the Minimum Mortgage Rate) the interest rate to be borne by such Mortgage Loan until the next Adjustment Date.

  • Applicable Facility Fee Rate means, at any time, the percentage rate per annum at which Facility Fees are accruing on the Aggregate Commitment at such time as set forth in the Pricing Schedule.

  • LIBOR Margin has the meaning given that term in Section 2.2.(c)(ii)(D).

  • Applicable L/C Margin means the per annum fee, from time to time in effect, payable with respect to outstanding Letter of Credit Obligations as determined by reference to Section 1.5(a).

  • Applicable Eurodollar Rate Margin means, with respect to any Eurodollar Rate Advance, for each Pricing Period, the interest rate margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: Applicable Pricing Level Margin II 125.0 III 175.0 IV 250.0

  • Applicable Margins means collectively the Applicable Revolver Index Margin, the Applicable Term Loan Index Margin, the Applicable Revolver LIBOR Margin and the Applicable Term Loan LIBOR Margin.

  • Applicable LIBOR Margin means a per annum rate of interest payable in addition to the LIBOR Rate on LIBOR Rate Loans, determined by reference to Section 1.6.

  • Applicable Utilization Fee Rate means, as of any date, the percentage rate per annum at which Utilization Fees accrue on all Revolving Credit Advances at such time as set forth in the Pricing Schedule.

  • Floating Rate Margin means 7.50 per cent. per annum.