Common use of Utilization Fee Clause in Contracts

Utilization Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Pro Rata Share, a utilization fee equal to the Applicable Rate times the Total Outstandings on each day that the Total Outstandings exceed 33% of the actual daily amount of the Aggregate Commitments. The utilization fee shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Maturity Date. The utilization fee shall be calculated quarterly in arrears. The utilization fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV is not met.

Appears in 1 contract

Samples: Credit Agreement (Citgo Petroleum Corp)

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Utilization Fee. The Borrower In addition to certain fees described in the Fee Letter and subsections (i) and (j) of Section 2.03, the Borrowers shall pay to the Administrative Agent for the account of each Lender Lender, other than any Defaulting Lender, in accordance with its Pro Rata Share, a utilization fee equal to the Applicable Rate of 0.125% times the Total Outstandings on each day that the Total Outstandings exceed 33% of the actual daily amount unused portion of the Aggregate Commitmentseach Lender’s Commitment. The utilization fee shall be due and payable quarterly in arrears on the last first Business Day of each MarchJanuary, JuneApril, September July and DecemberOctober, commencing with the first such date to occur after the Closing Date, and on the Maturity Date. The utilization fee shall be calculated quarterly in arrears. The utilization fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV is not met.

Appears in 1 contract

Samples: Credit Agreement (Municipal Mortgage & Equity LLC)

Utilization Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Pro Rata Share, a utilization fee equal to the Applicable Rate times multiplied by the Total Outstandings actual daily aggregate Outstanding Amount of Loans and L/C Obligations on each day that the Total Outstandings exceed such aggregate Outstanding Amount exceeds 33% of the actual daily amount of the Aggregate Commitments. The utilization fee shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Maturity Date. The utilization fee shall be calculated quarterly in arrears. The utilization fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV is not met.

Appears in 1 contract

Samples: Credit Agreement (Granite Construction Inc)

Utilization Fee. The Borrower shall pay to the Administrative Agent --------------- for the account of each Lender in accordance with its Pro Rata Share, a utilization fee equal to the Applicable Rate times the Total Outstandings actual daily aggregate Outstanding Amount of Loans and L/C Obligations on each day that the Total Outstandings exceed 33such aggregate Outstanding Amount exceeds 50% of the actual daily amount of the Aggregate Commitments. The utilization fee shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Conditions Effective Date, and on the Maturity Date. The utilization fee shall be calculated quarterly in arrears. The utilization fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV is not met.

Appears in 1 contract

Samples: Credit Agreement (Sunoco Logistics Partners Lp)

Utilization Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Pro Rata ShareApplicable Percentage, a utilization fee equal to the Applicable Rate of 0.125% per annum times the Total Outstandings on each day that the Total Outstandings exceed 3350% of the actual daily amount of the Aggregate CommitmentsCommitments then in effect (or, if terminated, in effect immediately prior to such termination). The utilization fee shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Maturity Date. The utilization fee shall be calculated quarterly in arrears. The utilization fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV is not met.

Appears in 1 contract

Samples: Credit Agreement (Delphi Financial Group Inc/De)

Utilization Fee. The Borrower shall pay to the Administrative Agent for --------------- the account of each Lender in accordance with its Pro Rata Share, a utilization fee equal to the Applicable Rate times the Total Outstandings actual daily aggregate Outstanding Amount of Loans and L/C Obligations on each day that the Total Outstandings exceed 33such aggregate Outstanding Amount exceeds 50% of the actual daily amount of the Aggregate Commitments. The utilization fee shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Conditions Effective Date, and on the Maturity Date. The utilization fee shall be calculated quarterly in arrears. The utilization fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV is not met.

Appears in 1 contract

Samples: Credit Agreement (Sunoco Logistics Partners Lp)

Utilization Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Pro Rata Share, a utilization fee equal to the Applicable Rate of 0.125% times the Total Outstandings actual daily aggregate Outstanding Amount of Loans and L/C Obligations on each day that the Total Outstandings exceed 33such aggregate Outstanding Amount exceeds 50% of the actual daily amount of the Aggregate Commitments. The utilization fee shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Effectiveness Date, and on the Maturity Date. The utilization fee shall be calculated quarterly in arrears. The utilization fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV is not met.

Appears in 1 contract

Samples: Credit Agreement (Ceridian Corp /De/)

Utilization Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Pro Rata Share, a utilization fee equal to the Applicable Rate times the Total Outstandings actual daily aggregate Outstanding Amount of Loans and L/C Obligations on each day that the Total Outstandings exceed 33such aggregate Outstanding Amount exceeds 50% of the actual daily amount of the Aggregate Commitments. The utilization fee payable to each Lender shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Maturity DateDate for such Lender. The utilization fee shall be calculated quarterly in arrears. The utilization fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV is not met.

Appears in 1 contract

Samples: Credit Agreement (Sunoco Logistics Partners Lp)

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Utilization Fee. The Borrower Company shall pay to the Administrative Agent for the account of each Lender in accordance with its Pro Rata ShareApplicable Percentage, a utilization fee in Dollars equal to the Applicable Rate times the Total Outstandings on each day that the Total Outstandings exceed 3350% of the actual daily amount of the Aggregate CommitmentsCommitments then in effect (or, if terminated, in effect immediately prior to such termination). The utilization fee shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Maturity Date. The utilization fee shall be calculated quarterly in arrears. The utilization fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV is not met.

Appears in 1 contract

Samples: Credit Agreement (Avnet Inc)

Utilization Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Pro Rata ShareApplicable Percentage, a utilization fee equal to the Applicable Rate in US Dollars of 0.125% per annum times the Total Outstandings on each day that the Total Outstandings exceed 3350% of the actual daily amount of the Aggregate CommitmentsCommitments then in effect (or, if terminated, in effect immediately prior to such termination). The utilization fee shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Maturity Date. The utilization fee shall be calculated quarterly in arrears. The utilization fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV is not met.

Appears in 1 contract

Samples: Credit Agreement (Ceridian Corp /De/)

Utilization Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Pro Rata Share, a utilization fee equal to the Applicable Rate times multiplied by the Total Outstandings actual daily aggregate Outstanding Amount of Loans and L/C Obligations on each day that the Total Outstandings exceed 33such aggregate Outstanding Amount exceeds 33.00% of the actual daily amount of the Aggregate Commitments. The utilization fee shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Maturity Date. The utilization fee shall be calculated quarterly in arrears. The utilization fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV is not met.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Granite Construction Inc)

Utilization Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Pro Rata Share, a utilization fee equal to the Applicable Rate times the Total Outstandings actual daily aggregate Outstanding Amount of Loans and L/C Obligations on each day that the Total Outstandings exceed 33such aggregate Outstanding Amount exceeds 50% of the actual daily amount of the Aggregate Commitments. The utilization fee shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Maturity Date. The utilization fee shall be calculated quarterly in arrears. The utilization fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV is not met.

Appears in 1 contract

Samples: Credit Agreement (Sunoco Logistics Partners Lp)

Utilization Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender (including the Swing Line Lender) in accordance with its Pro Rata Shareratable share of Total Outstandings, a utilization fee equal to the Applicable Rate of 0.125% per annum times the Total Outstandings on each day that the Total Outstandings exceed 3350% of the actual daily amount of the Aggregate CommitmentsCommitments then in effect (or, if terminated, in effect immediately prior to such termination). The utilization fee shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Maturity Date. The utilization fee shall be calculated quarterly in arrears. The utilization fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV is not met.

Appears in 1 contract

Samples: Credit Agreement (McClatchy Co)

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