Example ContractsClausesApplicable Fee Rate
Applicable Fee Rate
Applicable Fee Rate contract clause examples

Applicable Rate. Notwithstanding anything to the contrary contained in the definition of “Applicable Rate” in Section 1.01 of the Credit Agreement, from the date hereof to the first Business Day immediately following the date of delivery of the Compliance Certificate for the fiscal quarter ending June 30, 2020, Pricing Level 6 shall apply.

Severance Fee Rate. The term “Severance Fee Rate” shall mean Nine Percent (9.0%), subject to adjustment pursuant to the Severance Fee Escalator as provided in Section 3.6(e).

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of # five percent (5%) of the amount of such unpaid amount or # the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Late Fee; Default Rate. If any payment is not made within 15 days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of # 5% of the amount of such unpaid amount and # the maximum amount permitted to be charged under applicable law. All outstanding Obligations shall, at Bank’s option, bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to 5 percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Late Fee; Default Rate. If any payment is not made within 15 days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of # 5% of the amount of such unpaid amount or # the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to 3 percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

Late Fee; Default Rate. If any payment is not made within ten (10) days after the date such payment is due, Borrower shall pay Bank a late fee equal to the lesser of # five percent (5%) of the amount of such unpaid amount or # the maximum amount permitted to be charged under applicable law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default.

All Property (other than New Property and New Projects that become subject to this Lease after June 1, 2021) and Massachusetts New Projects. With respect to each Property (other than New Property and New Projects that become subject to this Lease after June 1, 2021) and each Massachusetts New Project, on each January 1 during the Term (each an “Adjustment Date”), the Applicable Lease Rate applicable to such Property or Massachusetts New Project shall be increased (and in no event decreased) and shall be equal to the sum of # the previous Applicable Lease Rate and # the product of the previous Applicable Lease Rate and the percentage by which the CPI published for

Adjustment to Severance Fee Rate. On each Adjustment Date during the Term, the Severance Fee Rate shall be increased (and in no event decreased) and shall be equal to the sum of # the Severance Fee Rate previously in effect, and # the product of such previous Severance Fee Rate and the percentage by which the CPI published for the month of October prior to the applicable Adjustment Date shall have increased over the CPI figure published for the month of October prior to the previous Adjustment Date, with such sum being the new Severance Fee Rate (in each case, such escalator used in calculating the adjusted Severance Fee Rate being referred to herein as the “Severance Fee Escalator”); provided, however, that the Severance Fee Escalator shall not be less than One Percent (1.0%) or greater than Four Percent (4.0%).

For purposes of determining the Applicable Margin, the Applicable Commitment Fee Rate and the Applicable Letter of Credit Fee Rate:

For purposes of determining the Applicable Margin, the Applicable Commitment Fee Rate and the Applicable Letter of Credit Fee Rate:

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