Class A-R Commitment Fee Clause Samples

Class A-R Commitment Fee. The Class A-R Commitment Fees shall accrue for each day from and including the first day of each Collection Period to and including the last day of such Collection Period and shall be due and payable on each Distribution Date as provided in the Priority of Distributions and shall be calculated by the Class A-R Note Agent pursuant to the Class A-R Note Purchase Agreement. The amount of the Class A-R Commitment Fees due and payable on each Distribution Date shall be equal to the accrued and unpaid Class A-R Commitment Fees as of the corresponding Determination Date in respect of such Distribution Date. The Class A-R Commitment Fee will rank pari passu with the payment of interest on the Class A Notes. Class A-R Commitment Fees are computed on the basis of a 360 day year and the actual number of days elapsed. Interest at the highest rate then applicable to the Class A-R Notes (or, if there are no Borrowings then outstanding, at the Base Rate) shall accrue on the portion of any Class A-R Commitment Fee payable to the Holders of the Class A-R Notes that is not paid when due. Notwithstanding anything to the contrary contained herein, if a Borrowing is made under the Class A-R Notes during a Stub Period, the interest accrued in respect of such Class A-R Notes during such Stub Period shall not be due and payable on the Distribution Date occurring at the end of such Stub Period (such Distribution Date, the "Immediate Distribution Date") and shall instead be due and payable on the Distribution Date immediately following the Immediate Distribution Date (such Distribution Date, the "Ensuing Distribution Date"), along with all accrued interest, accrued Class A-R Commitment Fees and other amounts that are otherwise due and payable on such Ensuing Distribution Date.