Liquidity Fee

Liquidity Fee. Equal to the Liquidity Fee Specified Percentage of the daily average of the Purchase Limit then in effect, less the outstanding Capital attributable to the Banks under the Purchase Agreement from the Closing Date until the Commitment Termination Date. As used herein the term "Liquidity Fee Specified Percentage" means (i) for each day that FMC shall have the Required Tier-1 Ratings, 0.25% per annum, (ii) for each day that FMC ... shall have the Required Tier-2 Ratings, 0.50% per annum, (iii) for each day that FMC shall have the Required Tier-3 Ratings, 0.625% per annum, and (iv) for each day that FMC shall have the Required Tier-4 Ratings, 0.75% per annum; provided, that if FMC is split rated, the lower rating applies; provided, however, that if the commitment fee or other similar fee payable to the lenders under the credit facilities to be entered into by FMC, Citibank, N.A., Bank of America, N.A. and the other parties thereto is higher than the percentages listed in each of clauses (i) through (iv) above for each of the respective ratings levels, such higher percentage will be the Liquidity Fee Specified Percentage. View More