Common use of Additional Commitment Fee Clause in Contracts

Additional Commitment Fee. At March 17, 1996, and at each anniversary of such date, or upon the earlier termination or expiration of this Agreement, as the case may be, Borrower shall pay to Bank the excess, if any, of the Minimum Commitment Fee over the sum of all other fees paid under Sections 2.6.1, 2.6.2 and 2.6.3 and attributable to the preceding 12-month period (or such part thereof as this Agreement has been in effect). However, Borrower shall receive as a credit against any excess amount to be paid to Bank pursuant to this Section 2.6.4 such portion (if any) as may be designated in writing by Borrower to Bank of the excess (if any) of (i) the sum of (A) the aggregate amount paid by the borrower to Bank pursuant to Sections 2.6.3 and 2.6.4 of the TPC Credit Agreement and attributable to such period and (B) the aggregate amount paid by the borrower to Bank pursuant to Sections 2.6.2 and 2.6.3 of the HCP Credit Agreement and attributable to such period over (ii) the excess (if any) of the sum of (y) the Minimum Commitment Fee (as such term is defined in the TPC Credit Agreement) and (z) the Minimum Commitment Fee (as such term is defined in the HCP Credit Agreement).

Appears in 1 contract

Sources: Master Credit Agreement and Secured Promissory Note (Presley Companies /De)

Additional Commitment Fee. At March 17, 1996, and at each anniversary of such date, or upon the earlier termination or expiration of this Agreement, as the case may be, Borrower shall pay to Bank the excess, if any, of the Minimum Commitment Fee over the sum of all other fees paid under Sections 2.6.1, 2.6.2 and 2.6.3 and attributable to the preceding 12-month period (or such part thereof as this Agreement has been in effect). However, Borrower shall receive as a credit against any excess amount to be paid to Bank pursuant to this Section 2.6.4 such portion (if any) as may be designated in writing by Borrower to Bank of the excess (if any) of (i) the sum of (A) the aggregate amount paid by the borrower to Bank pursuant to Sections 2.6.2, 2.6.3 and 2.6.4 of the TPC CMR Credit Agreement and attributable to such period and (B) the aggregate amount paid by the borrower to Bank pursuant to Sections 2.6.2 and 2.6.3 of the HCP Credit Agreement and attributable to such period over (ii) the excess (if any) of the sum of (y) the Minimum Commitment Fee (as such term is defined in the TPC CMR Credit Agreement) and (z) the Minimum Commitment Fee (as such term is defined in the HCP Credit Agreement).

Appears in 1 contract

Sources: Master Credit Agreement (Presley Companies /De)