Commitment Fee and Facility Fee Sample Clauses
Commitment Fee and Facility Fee. (a) The Company shall pay to the Agent for account of each Bank a commitment fee on the daily average unused amount of such Bank's Commitment (solely for which purpose the amount of any Money Market Borrowing shall be deemed to be a pro rata (based on the Commitments) utilization of each Bank's Commitment) for the period from and including the date of this Agreement to but not including the earlier of the date such Commitment is terminated or the Commitment Termination Date, at a rate per annum in accordance with the Pricing Schedule.
(b) The Company shall pay to the Agent for account of each Bank a facility fee on the daily average (whether used or unused) amount of such Bank's Commitment for the period from and including the date of this Agreement to but not including the earlier of the date the Commitments are terminated or the Commitment Termination Date, at a rate per annum in accordance with the Pricing Schedule.
(c) Accrued commitment fee and facility fee shall be payable on each Quarterly Date and on the earlier of the date the Commitments are terminated or the Commitment Termination Date.
Commitment Fee and Facility Fee. Pay to Lender (a) on or before the date of this Agreement, a one-time commitment fee for the Loan and the other financial accommodations being extended to Borrower on this date in the amount of $5,000 and (b) a quarterly fee (the "Facility Fee") at the applicable rate set forth below which fee is payable quarterly in advance commencing on the date hereof and on the first day of each fiscal quarter thereafter:
(i) in the event that Connecticut Natural Gas Corporation's debt rating by Standard and Poor's Corporation is BBB, the Facility Fee shall be equal to six-tenths of one percent (.6%) of the maximum availability under the Revolving Credit Commitment, as the same shall have been reduced in accordance with the provisions hereof; or
(ii) in the event that Connecticut Natural Gas Corporation's debt rating by Standard and Poor's Corporation is BBB+ or better, the Facility Fee shall be equal to forty-five one hundredths of one percent (.45%) of the maximum availability under the Revolving Credit Commitment, as the same shall have been reduced in accordance with the provisions hereof.
Commitment Fee and Facility Fee