Amendment to Sections 2. 07(a) and (b). Sections 2.07(a) and (b) of the Credit Agreement are amended and restated to read in their entirety as follows: (a) The Borrower shall pay to the Administrative Agent for the ratable account of each Lender an unused commitment fee equal to the product of: (i) the aggregate of the daily average amounts of such Lender’s Unused Revolver Commitment, times (ii) a per annum percentage equal to .50%. Such unused commitment fee shall accrue from and including the Fourth Amendment Effective Date to and including the Termination Date. Unused commitment fees shall be payable quarterly in arrears on each Quarterly Payment Date and on the Termination Date; provided that should the Revolver Commitments be terminated at any time prior to the Termination Date for any reason, the entire accrued and unpaid fee shall be paid on the date of such termination.
Appears in 2 contracts
Sources: Credit Agreement (St Joe Co), Credit Agreement (St Joe Co)