Commitment and Other Fees Clause Samples
The "Commitment and Other Fees" clause defines the various fees that a borrower must pay to a lender in connection with a loan agreement, beyond just interest payments. Typically, this includes commitment fees, which are charged for the lender's agreement to make funds available, as well as other administrative or processing fees that may arise during the life of the loan. By clearly outlining these additional costs, the clause ensures transparency regarding the total financial obligations of the borrower and helps prevent disputes over unexpected charges.
Commitment and Other Fees. (a) In consideration of the Lender's Revolving Commitment, the Borrower agrees to pay to the Lender a commitment fee ("Commitment Fee") (computed on the basis of the actual number of days elapsed in a year composed of 360 days, subject to the terms of Section 10.6 hereof) in an amount equal to the product of (A) one quarter of one percent (0.25%) times (B) the Lender's Unused Revolving Commitment. The Commitment Fee shall be due and payable in arrears (i) on the first Business Day of each December, March, June and September prior to the Revolving Loan Maturity Date, commencing June 1, 1999, and (ii) on the Revolving Loan Maturity Date, with each Commitment Fee to commence to accrue as of the date hereof and to be effective as to any reduction in the Revolving Commitment as of the date of any such decrease, and each Commitment Fee shall cease to accrue (except with respect to interest at the Past Due Rate on any unpaid portion thereof) on the Revolving Loan Maturity Date. All past due Commitment Fees shall bear interest at the Past Due Rate and shall be payable upon demand by the Lender.
(b) When and if the daily collection and application procedures for Receivables are implemented and are continuing in accordance with the provisions of Section 7.15(b) hereof, the Borrower hereby agrees to pay to the Lender an administration fee in the amount of $10,000 per annum, payable in advance in semi-annual installments of $5,000, commencing on any date such daily collection procedures are implemented, and thereafter semi-annually on the same Business Day of each subsequent six-month period in which such daily collection procedures are continuing; provided, however, prior to the implementation of such collection procedures, Borrower hereby agrees to pay the Lender an administration fee in the amount of $5,000 per annum, payable in advance with the first payment being due and payable on [the Closing Date (such amount having been paid)] and annually thereafter, on each anniversary of the Closing Date.
Commitment and Other Fees. Subject to Section 10.8:
(a) Borrower shall pay to the Agent, for the ratable account of the Banks, the following fees: (i) 1/8 of 1% per annum on each Unavailable Commitment during the Revolving Availability Period, (ii) 1/4 of 1% per annum on the total unused portion of the Revolving Commitments of all Banks (other than the then applicable, if any, Unavailable Commitment) during the Revolving Availability Period, and (iii) 1/4 of 1% per annum on the total unused portion of the Term Commitments of all Banks during the Term Availability Period. As to such fees attributable to the Revolving Commitments, such fees shall be payable quarterly in arrears on each Quarterly Date during the Revolving Availability Period and on the Revolving Commitment Termination Date. As to the Term Commitments, such fee shall be payable quarterly in arrears on each Quarterly Date during the Term Availability Period and on the Term Commitment Termination Date.
(b) Borrower shall pay to the Issuing Bank and the Banks, by remittance to the Agent, the respective fees referred to in Section 2.14 as consideration for the issuance and maintenance
(c) On the Closing Date and on each anniversary date of the Closing Date prior to the termination all Commitments, Borrower shall pay the Agent, for its own account, an annual, non-refundable Agent's fee as set forth in a fee letter agreement of even date herewith, between Borrower and the Agent.
Commitment and Other Fees. (a) The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender a commitment fee for the period from and including the Closing Date to the last day of the Revolving Commitment Period, computed at the Commitment Fee Rate on the average daily amount of the Available Revolving Commitment of such Lender during the period for which payment is made, payable quarterly in arrears on each Fee Payment Date, commencing on the first such date to occur after the date hereof.
(b) The Borrower agrees to pay to the Agents and the Lead Arrangers the fees in the amounts and on the dates previously agreed to in writing by the Borrower, the Agents and the Lead Arrangers.
Commitment and Other Fees. Section 2.10.
Commitment and Other Fees. The Borrower agrees to pay to the Administrative Agent for its own account and the account of the Lenders, as applicable:
(a) the fees in the amounts and on the dates as set forth in the Fee Letter and to perform any other obligations contained therein, and
(b) as additional compensation for the Revolving Commitment, the Borrower shall pay the Administrative Agent for the benefit of Revolving Lenders, in arrears, on the first day of each calendar quarter from and after the Closing Date through the Revolving Termination Date and on the Revolving Termination Date, a fee for the Borrower’s non use of available funds in an amount equal to the 0.50% per annum (calculated on the basis of a 360 day year for actual days elapsed) multiplied by the difference between (x) the Revolving Commitment (as it may be reduced from time to time) and (y) the average for the period of the daily closing balance of the Revolving Loans outstanding (including the sum of the aggregate undrawn amount of all outstanding Letters of Credit at such time plus the aggregate amount of all L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans) during the period for which such fee is due.
(c) All fees payable under this Section 2.9 and the Fee Letter shall be fully earned on the date paid and nonrefundable.
Commitment and Other Fees. Subject to Section 10.8:
(a) Operating Subsidiary shall pay to the Agent, for the ratable account of the Banks, the following fees: (i) 1/5 of 1% per annum on the total unused portion of the Revolving Commitments of all Banks during the Revolving Availability Period. Such fees shall be payable quarterly in arrears on each Quarterly Date during the Revolving Availability Period and on the Revolving Commitment Termination Date.
Commitment and Other Fees. The U.S. Borrowers, jointly and severally, agree to pay to the Administrative Agent for the account of each Lender a commitment fee for the period from and including the date hereof to the Commitment Termination Date, computed at the rate of three-quarters of one percent per annum (0.75%) on the average daily amount of the unutilized and undrawn Commitment of such Lender during such period, payable quarterly in arrears on the last day of each quarter and on the Commitment Termination Date or such earlier date as the Commitment shall terminate as provided herein, commencing on the first of such dates to occur after the date hereof.
Commitment and Other Fees. 30 6.3 Commercial Letter of Credit Fees............................. 31 6.4 Standby Letter of Credit Fees................................ 31 6.5
Commitment and Other Fees. (a) The Borrower ------------------------- shall pay each Lender, through the Agent, on each January 1, April 1, July 1 and October 1, and on the Revolving Credit Termination Date, in immediately available funds, a commitment fee (the "Revolving Credit Commitment Fee") of 1/4 of 1% per annum on the daily unused amount of the Revolving Credit Commitment of such Lender (it being understood that for purposes of calculating such unused amount, the unused amount of such Lender's Revolving Credit Commitment shall be reduced by an amount equal to such Lender's pro rata share of the Letter of Credit Exposure and Acceptance Draft Exposure), during the quarter (or shorter period commencing with the date hereof or ending with the Revolving Credit Termination Date) ending on such date. The commitment fees due to each Lender under this Section 2.07(a) shall commence to accrue on the date hereof and cease to accrue on the earlier of (i) the Revolving Credit Termination Date and (ii) the termination of the Revolving Credit Commitment of such Lender pursuant to Section 2.08 hereof.
(b) The Borrower shall pay each Lender on or before the Closing Date a facility fee of 1/10 of 1% of such Lender's Revolving Credit Commitment.
(c) All fees under this Section 2.07 shall be calculated on the basis of the actual number of days elapsed in a year of 360 days.
Commitment and Other Fees. 20 2.8 Agent Reliance; Defaulting Lenders.................... 20 2.8.1