Commitment Fee. The Borrowers agree to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 6 contracts
Sources: Credit Agreement (Liberty Latin America Ltd.), Additional Facility Joinder Agreement (Liberty Latin America Ltd.), Amendment Agreement (Liberty Latin America Ltd.)
Commitment Fee. The Borrowers agree to pay to the Administrative Agent for the account of each any Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, Class until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments Commitments, and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, Commitments and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 6 contracts
Sources: Credit Agreement (Liberty Latin America Ltd.), Credit Agreement (Liberty Latin America Ltd.), Additional Facility Joinder Agreement (Liberty Latin America Ltd.)
Commitment Fee. The U.S. Borrowers and the Dutch Borrower jointly and severally agree to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments Facility in accordance with its Pro Rata Share or other applicable share provided for under this AgreementShare, a commitment fee equal to the product of the Applicable Rate with respect to unused the Revolving Credit Commitment Loan commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments under such Facility exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for under such Class of Revolving Credit Commitments Facility and (B) in the case of the Tranche A Revolving Credit Facility only, the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers any Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers a Borrower prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Closing Date until the Maturity Date for the applicable Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of each Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 6 contracts
Sources: Credit Agreement (Nielsen Holdings N.V.), Credit Agreement (Nielsen Holdings N.V.), Credit Agreement (Nielsen Holdings N.V.)
Commitment Fee. The Borrowers agree to pay pay, on a joint and several basis, to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementShare, a commitment fee equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and multiplied by the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided provided, that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; and provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of the Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Closing Date until the Maturity Date for the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. For the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be counted towards or considered usage of the Aggregate Commitments for purposes of determining the commitment fee.
Appears in 6 contracts
Sources: Credit Agreement (OUTFRONT Media Inc.), Credit Agreement (OUTFRONT Media Inc.), Credit Agreement (OUTFRONT Media Inc.)
Commitment Fee. The Borrowers agree to Borrower shall pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementShare, a commitment fee equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Closing Date until the applicable Maturity Date for the Original Maturity Revolving Credit Availability Period for such Class, Facility and from the Restatement Date until the earlier of (x) applicable Maturity Date for the last day of the Extended Maturity Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility , including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of the applicable Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 5 contracts
Sources: Credit Agreement (West Corp), Credit Agreement (West Corp), Credit Agreement (West Corp)
Commitment Fee. The Borrowers agree to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee equal to the product of the Applicable Rate Margin with respect to unused Revolving Credit Commitment Loan commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; and provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, Closing Date until the earlier of (x) the last day of the Revolving Credit Availability Period Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitments, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitments. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate Margin during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate Margin separately for each period during such quarter that such Applicable Rate Margin was in effect.
Appears in 5 contracts
Sources: Credit Agreement (Trinseo PLC), Credit Agreement (Trinseo S.A.), Credit Agreement (Trinseo S.A.)
Commitment Fee. The Borrowers agree to Borrower shall pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementRevolving Commitment Percentage, a commitment fee (the “Commitment Fee”) equal to the product of (x) the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and Margin times (y) the actual daily amount by which the aggregate Aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum Total Revolving Outstandings, subject to adjustments as provided in Section 2.16. The Commitment Fee shall accrue at all times during the Revolving Commitment Period, including at any time during which one or more of (A) the Outstanding Amount conditions in Section 5 is not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsCommitment Termination Date; provided that (1) no Commitment Fee shall accrue on any commitment fee of the Revolving Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (2) any Commitment Fee accrued with respect to any of the Revolving Credit Commitments Commitment of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender Borrower so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class. The commitment fee Commitment Fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate Margin during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate Margin separately for each period during such quarter that such Applicable Rate Margin was in effect. For purposes hereof, Swingline Loans shall not be counted toward or be considered as usage of the Aggregate Revolving Commitments.
Appears in 5 contracts
Sources: Credit Agreement (TruBridge, Inc.), Credit Agreement (Computer Programs & Systems Inc), Credit Agreement (Computer Programs & Systems Inc)
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementShare, a commitment fee equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and multiplied by the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided provided, that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; and provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of the Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Closing Date until the Maturity Date for the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. For the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be counted towards or considered usage of the Aggregate Commitments for purposes of determining the commitment fee.
Appears in 5 contracts
Sources: Credit Agreement (CBS Corp), Credit Agreement (CBS Radio Inc.), Credit Agreement (Entercom Communications Corp)
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Priority Revolving Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments Facility in accordance with its Pro Rata Share or other applicable share provided for under this AgreementApplicable Percentage, a commitment fee equal to the product of the Applicable applicable Commitment Fee Rate with respect to unused Revolving Credit Commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds exceed the sum of (Aa) the Outstanding Amount of Revolving Credit Loans (for such Class the avoidance of Revolving Credit Commitments doubt, excluding any Swing Line Loans) and (Bb) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender under such Revolving Facility during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Commitments under any Revolving Credit Commitments Facility of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) Commitment shall accrue at all times starting from the first day Closing Date (or date of initial effectiveness, as applicable) (and for the avoidance of doubt, the commitment fee on the Revolving Credit Availability Period for such Class, Commitment under the Closing Date Revolving Facility shall accrue from the Closing Date) until the earlier of (x) Maturity Date for the last day of the applicable Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitment, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsDecember 31, 2019, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Commitment Fee Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Commitment Fee Rate separately for each period during such quarter that such Applicable Commitment Fee Rate was in effect.
Appears in 5 contracts
Sources: First Lien Credit Agreement (Convey Health Solutions Holdings, Inc.), First Lien Credit Agreement (Convey Health Solutions Holdings, Inc.), First Lien Credit Agreement (Convey Holding Parent, Inc.)
Commitment Fee. The Borrowers agree to Borrower shall pay to the Administrative Agent Agent, for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementApplicable Percentage, a commitment fee (the “Commitment Fee”) equal to the product of (i) the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and times (ii) the actual daily amount by which the aggregate Aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds exceed the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations Obligations, subject to adjustment as provided in Section 2.15. For the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be counted towards or considered usage of the Aggregate Revolving Commitments for purposes of determining the Commitment Fee. The Commitment Fee shall accrue at all times during the Availability Period, including at any time during which one or more of the conditions in Article V is not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such Class date to occur after the Closing Date, and on the last day of the Availability Period; provided, that (A) no Commitment Fee shall accrue on the Revolving Credit Commitments; provided that Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (B) subject to Section 2.15, any commitment fee Commitment Fee accrued with respect to any of the Revolving Credit Commitments Commitment of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender Borrower so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class. The commitment fee Commitment Fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 5 contracts
Sources: Credit Agreement (Ciner Resources LP), Credit Agreement (Ciner Resources LP), Credit Agreement (Ciner Resources LP)
Commitment Fee. The Borrowers agree to Borrower shall pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementShare, a commitment fee equal to the product of the Applicable Rate with respect to unused then in effect for the applicable Class or Classes of such Revolving Credit Commitment fees for such Class and Lender’s Revolving Credit Commitments times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments Facility exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments Facility and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsFacility; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Restatement Effective Date until the applicable Maturity Date for the Original Maturity Revolving Credit Availability Period for such Class, until Facility and the earlier of (x) the last day of the Extended Maturity Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) Facility as the date of the termination of the Revolving Credit Commitments of such Classcase may be, including at any time during which one or more of the conditions in Article IV 4 is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsOriginal Closing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of the applicable Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 4 contracts
Sources: Fourth Amendment Agreement (CRC Health CORP), Credit Agreement (CRC Health CORP), Third Amendment Agreement (CRC Health CORP)
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of the Revolving Credit Commitments Facility in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee equal to the product of the Applicable applicable Commitment Fee Rate with respect to unused Revolving Credit Commitment fees for such Class and of the Revolving Facility times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of the Revolving Credit Commitments Facility exceeds the sum of (Aa) the Outstanding Amount of Revolving Credit Loans (for the avoidance of doubt, excluding any Swing Line Loans) for such Class of the Revolving Credit Commitments Facility and (Bb) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsFacility; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender under such Class of the Revolving Facility during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Commitments under any Class of the Revolving Credit Commitments Facility of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of the Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day Closing Date until the Maturity Date for the applicable Class of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day last Business Day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsSeptember, 2015, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Commitment Fee Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Commitment Fee Rate separately for each period during such quarter that such Applicable Commitment Fee Rate was in effect.
Appears in 4 contracts
Sources: Credit Agreement (Life Time Group Holdings, Inc.), Credit Agreement (Life Time Group Holdings, Inc.), Credit Agreement (Life Time Group Holdings, Inc.)
Commitment Fee. The Borrowers agree to Borrower shall pay to the Administrative Agent for the account of each (i) Dollar Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementShare, a commitment fee equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment commitment fees for such Class and times the actual daily amount by which the aggregate Dollar Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Dollar Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of Dollar L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided that any commitment fee accrued with respect to any of the Dollar Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Dollar Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (ii) Alternative Currency Revolving Credit Lender in accordance with its Pro Rata Share, a commitment fee equal to the Applicable Rate with respect to commitment fees times the actual daily amount by which the aggregate Alternative Currency Revolving Credit Commitment exceeds the sum of (A) the Outstanding Amount of Alternative Currency Revolving Credit Loans and (B) the Outstanding Amount of Alternative Currency L/C Obligations; provided that any commitment fee accrued with respect to any of the Alternative Currency Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrower prior to such time; and provided further that no commitment fee shall accrue on any of the Alternative Currency Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) fees shall accrue at all times starting from the first day of Closing Date until the Maturity Date for the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacilities, including at any time during which one or more of the conditions in Article IV 4 is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacilities. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 4 contracts
Sources: Credit Agreement (Freescale Semiconductor, Ltd.), Credit Agreement (Freescale Semiconductor Holdings I, Ltd.), Credit Agreement (Freescale Semiconductor Holdings I, Ltd.)
Commitment Fee. The Borrowers agree to Borrower shall pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementRevolving Commitment Percentage, a commitment fee (the “Commitment Fee”) equal to the product Applicable Margin of the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and the actual daily amount by which the aggregate Aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum Total Revolving Outstandings, subject to adjustments as provided in Section 2.16. The Commitment Fee shall accrue at all times during the Revolving Commitment Period, including at any time during which one or more of (A) the Outstanding Amount conditions in Section 5 is not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsCommitment Termination Date; provided that (1) no Commitment Fee shall accrue on any commitment fee of the Revolving Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (2) any Commitment Fee accrued with respect to any of the Revolving Credit Commitments Commitment of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender Borrower so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class. The commitment fee Commitment Fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate Margin during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate Margin separately for each period during such quarter that such Applicable Rate Margin was in effect. For purposes hereof, Swingline Loans shall not be counted toward or be considered as usage of the Aggregate Revolving Commitments.
Appears in 4 contracts
Sources: Credit Agreement (Hibbett Inc), Credit Agreement (Orion Group Holdings Inc), Credit Agreement (Neogenomics Inc)
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments Facility in accordance with its Pro Rata Share or other applicable share provided for under this AgreementApplicable Percentage, a commitment fee equal to the product of the Applicable applicable Commitment Fee Rate with respect to unused Revolving Credit Commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds exceed the sum of (Aa) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (Bb) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender under such Revolving Facility during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Commitments under any Revolving Credit Commitments Facility of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) Commitment shall accrue at all times starting from the first day Closing Date (or date of initial effectiveness, as applicable) (and for the avoidance of doubt, the commitment fee on the Revolving Credit Availability Period for such Class, Commitment under the Closing Date Revolving Facility shall accrue from the Closing Date) until the earlier of (x) Maturity Date for the last day of the applicable Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitment, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day last Business Day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsJune 30, 2017, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Commitment Fee Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Commitment Fee Rate separately for each period during such quarter that such Applicable Commitment Fee Rate was in effect.
Appears in 4 contracts
Sources: Credit Agreement (Superior Industries International Inc), Credit Agreement (Superior Industries International Inc), Credit Agreement (Superior Industries International Inc)
Commitment Fee. The Borrowers agree to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of the applicable Revolving Credit Commitments Facility in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee in Dollars equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and Loan commitment fees, times the actual daily amount by which the aggregate Revolving Credit Commitment Commitments for the applicable Class of Revolving Credit Commitments Facility exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments Facility, and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsFacility; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender Lender, except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; and provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Closing Date until the Maturity Date for the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitments, including at any time during which one or more of the conditions in Article IV 4 is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with on the first such date during last Business Day of the first full fiscal quarter to occur ending after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitments. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 4 contracts
Sources: Credit Agreement (PF2 SpinCo, Inc.), Credit Agreement (PF2 SpinCo LLC), Credit Agreement (Change Healthcare Inc.)
Commitment Fee. The Borrowers agree to Borrower shall pay to the Administrative Agent for the account of each Revolving Credit Working Capital RC Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementShare, a commitment fee equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Working Capital RC Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Working Capital RC Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided that any commitment fee accrued with respect to any of the Revolving Credit Working Capital RC Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; and provided, further, that no commitment fee shall accrue on any of the Revolving Credit Working Capital RC Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, date hereof until the earlier of (x) Maturity Date for the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassWorking Capital RC Facility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassWorking Capital RC Facility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 3 contracts
Sources: Credit Agreement (Bloomin' Brands, Inc.), Credit Agreement (Cheeseburger-Ohio, Limited Partnership), Credit Agreement (Osi Restaurant Partners, LLC)
Commitment Fee. The Borrowers agree With respect to each Class of Revolving Credit Commitments, the Borrower shall pay to the Administrative Agent for the account of each Revolving Credit Lender under each such Class of Revolving Credit Commitments then in effect in accordance with its Pro Rata Share or other applicable share provided for under this AgreementShare, a commitment fee equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment commitment fees then in effect for such Class and of Revolving Credit Commitments, multiplied by the actual daily amount by which the aggregate Revolving Credit Commitment Commitments for the applicable such Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans (excluding, for the avoidance of doubt, Swing Line Loans) under such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class (but not, for the avoidance of Revolving Credit Commitmentsdoubt, the Outstanding Amount of Swing Line Loans); provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender Lender, except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; and provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments under any Facility of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of fees for any Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Closing Date (or from the Revolving Credit Availability Period for such Class, until date on which the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of applicable Revolving Credit Commitments and (ycome into effect in accordance with the terms hereof) until the date of the termination of the Maturity Date for such Revolving Credit Commitments of such ClassFacility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day last Business Day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsDecember 2021, and (ii) on the earlier of (x) the Maturity Date for such Class of the applicable Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 3 contracts
Sources: Credit Agreement (Cincinnati Bell Inc), Credit Agreement (Cincinnati Bell Inc), Credit Agreement (Cincinnati Bell Inc)
Commitment Fee. The Borrowers agree to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments Facility in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee equal to the product of the Applicable Rate as set forth in the definition thereof with respect to unused Revolving Credit Commitment commitment fees for such Class and Facility times the actual average daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments such Facility exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsFacility; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Closing Date until the Maturity Date for the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual average daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 3 contracts
Sources: Credit Agreement (Redwire Corp), Credit Agreement (Redwire Corp), Credit Agreement (Redwire Corp)
Commitment Fee. The Borrowers agree to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment Loan commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; and provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day funding date for such Class or, in the case of the Class A Initial Revolving Credit Availability Period for such ClassCommitments, the date on which that certain revolving credit facility agreement dated December 31, 2014 (as amended from time to time) between, among others, the Company, the Original Borrower, and BNP Paribas as agent, was cancelled and all outstanding amounts thereunder were repaid on full, until the earlier of date falling thirty (x30) days prior to the last day of the Revolving Credit Availability Period Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitments, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period funding date for such Class of Revolving Credit CommitmentsClass, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitments. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 3 contracts
Sources: Credit Agreement (Liberty Latin America Ltd.), Credit Agreement (Liberty Latin America Ltd.), Credit Agreement (Liberty Latin America Ltd.)
Commitment Fee. The Borrowers agree With respect to each Revolving Credit Facility, the Borrower shall pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments for such Facility in accordance with its Pro Rata Share or other applicable share provided for under this AgreementShare, a commitment fee equal to the product of the Applicable Rate with respect to unused commitment fees then in effect for the applicable Class or Classes of such Revolving Credit Commitment fees for such Class and Lender’s Revolving Credit Commitments times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments such Facility exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments Facility and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsFacility; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments under such Facility of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, provided further that no commitment fee shall accrue on any of the Revolving Credit Commitments under any Facility of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of fees for a Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Closing Date until the Revolving Credit Availability Period Maturity Date for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 3 contracts
Sources: Credit Agreement (Avaya Inc), Credit Agreement (Avaya Inc), Credit Agreement (Avaya Inc)
Commitment Fee. The Borrowers agree to Borrower shall pay to the Administrative Payment Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementShare, a commitment fee for the period from and including the Closing Date to but not including the last day of the Availability Period, computed at a rate equal to the product of the Applicable Commitment Fee Rate with respect to unused Revolving Credit Commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds exceed the sum of (A) the Outstanding Amount Amounts of the Revolving Credit Loans for such Class of and the Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; and provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from during the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassPeriod, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last fifth Business Day following receipt by the Borrower of each of March, June, September and Decemberan invoice with appropriate back up, commencing with the first such date during the first full fiscal quarter to occur after the first day of Closing Date, and on the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassTermination Date. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 3 contracts
Sources: Credit Agreement (Dynegy Holdings Inc), Credit Agreement (Dynegy Inc /Il/), Credit Agreement (Dynegy Inc.)
Commitment Fee. The U.S. Borrowers and the Dutch Borrower jointly and severally agree to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments Facility in accordance with its Pro Rata Share or other applicable share provided for under this AgreementShare, a commitment fee equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment Loan commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments under such Facility exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for under such Class of Revolving Credit Commitments Facility and (B) in the case of the Tranche A Revolving Credit Facility only, the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers any Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers a Borrower prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of date hereof until the Maturity Date for the applicable Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of each Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 3 contracts
Sources: Credit Agreement (Nielsen Holdings B.V.), Credit Agreement (Nielsen Holdings B.V.), Credit Agreement (Global Media USA, LLC)
Commitment Fee. The Borrowers agree (i) US Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit US Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee (the “US Commitment Fee”) equal to the product Applicable Fee per annum on the average daily unused amount of the Applicable Rate with respect to unused Revolving Credit each US Commitment fees for of such Class and the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting US Lender during the period prior from and including the date hereof to but excluding the time date on which such Lender became a Defaulting Lender and unpaid at such time US Commitment terminates. Accrued US Commitment Fees shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable arrears (i) quarterly in arrears on the last Business Day of each of March, June, September and DecemberDecember of each year, commencing with on the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitmentsdate hereof, and (ii) on the earlier of (x) the Maturity Date for date on which such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassUS Commitment terminates. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount US Commitment Fees shall be computed on the basis of a year of 360 days and multiplied by shall be payable for the actual number of days elapsed (including the first day but excluding the last day). For purposes of computing US Commitment Fees with respect to US Revolving Commitments, a US Revolving Commitment of a US Lender shall be deemed to be used to the extent of the outstanding US Revolving Loans of such US Lender (and the Swingline Exposure of such US Lender shall be disregarded for such purpose). The US Commitment Fee shall be paid on the dates due, in immediately available funds in US Dollars, to the Administrative Agent for distribution, if and as appropriate, among the US Lenders.
(ii) Canadian Borrower agrees to pay to the Canadian Lender a commitment fee (the “Canadian Commitment Fee”) equal to the Applicable Rate separately Fee per annum on the average daily unused amount of the Canadian Lender’s Canadian Commitment during the period from and including the date hereof to but excluding the date on which such Canadian Commitment terminates. Accrued Canadian Commitment Fees shall be payable in arrears (i) on the last Banking Day of March, June, September and December of each year, commencing on the first such date to occur after the date hereof, and (ii) on the date on which such Canadian Commitment terminates. Canadian Commitment Fees shall be computed on the basis of a year of 360 days and shall be payable for each period during such quarter that such Applicable Rate was the actual number of days elapsed (including the first day but excluding the last day). The Canadian Commitment Fee shall be paid on the dates due, in effectimmediately available funds in US Dollars.
Appears in 3 contracts
Sources: Credit Agreement (Nabors Industries LTD), Credit Agreement (Nabors Industries LTD), Credit Agreement (Nabors Industries LTD)
Commitment Fee. The Borrowers agree to shall pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Applicable Pro Rata Share or other applicable share provided for under this AgreementShare, a commitment fee (the “Commitment Fee”) equal to the product of the Applicable Commitment Fee Rate with respect to unused Revolving Credit Commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided that any commitment fee Commitment Fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee Commitment Fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, and provided further that no commitment fee Commitment Fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on Commitment Fees with respect to each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Original Closing Date until the Maturity Date for such Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day first day of each of March, June, September and Decembercalendar quarter, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsOriginal Closing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee Commitment Fee shall be calculated quarterly monthly in arrears, and if there is any change in the Applicable Rate during any quartermonth, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter month that such Applicable Rate was in effect.
Appears in 3 contracts
Sources: Amendment and Restatement Agreement (Ardent Health Partners, LLC), Abl Credit Agreement (Ardent Health Partners, LLC), Abl Credit Agreement (Ardent Health Partners, LLC)
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Revolver Agent for the account of each Revolving Credit Lender under each Class of the Revolving Credit Commitments Facility in accordance with its Pro Rata Share or other applicable share provided for under this AgreementApplicable Percentage, a commitment fee equal to the product of the Applicable applicable Commitment Fee Rate with respect to unused Revolving Credit Commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds exceed the sum of (Aa) the Outstanding Amount of Revolving Credit Loans (for such Class the avoidance of Revolving Credit Commitments doubt, excluding any Swing Line Loans) and (Bb) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender under such Revolving Facility during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Commitments under any Revolving Credit Commitments Facility of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) Commitment shall accrue at all times starting from the first day Closing Date (or date of initial effectiveness, as applicable) (and for the avoidance of doubt, the commitment fee on the Revolving Credit Availability Period for such Class, Commitment under the Closing Date Revolving Facility shall accrue from the Closing Date) until the earlier of (x) Maturity Date for the last day of the applicable Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitment, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsDecember 31, 2022, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Commitment Fee Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Commitment Fee Rate separately for each period during such quarter that such Applicable Commitment Fee Rate was in effect.
Appears in 3 contracts
Sources: Credit Agreement (LifeStance Health Group, Inc.), Credit Agreement (LifeStance Health Group, Inc.), Credit Agreement (LifeStance Health Group, Inc.)
Commitment Fee. The Borrowers agree to jointly and severally shall pay to the Administrative Agent (i) in connection with the WC Loans, for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementApplicable Percentage of the Aggregate WC Commitment, a commitment fee equal to the product of the Applicable WC Rate with respect to unused Revolving Credit Commitment fees for such Class and times the actual daily amount during each calendar month or portion thereof from the Closing Date to the Maturity Date by which the aggregate Revolving Credit Aggregate WC Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for as in effect on such Class of Revolving Credit Commitments and (B) date minus the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any WC Letters of Credit exceeds the Revolving Credit Commitments Total WC Outstandings for WC Loans during such calendar month (and, for the avoidance of a Defaulting Lender during doubt, the period prior to the time such Lender became a Defaulting Lender and unpaid at such time Outstanding Amount of Swing Line Loans shall not be payable by counted towards or considered usage of the Borrowers so long as such Aggregate WC Commitments for purposes of determining the commitment fee under this Section 2.08(a)(i)); (ii) in connection with the Revolver Loans, for the account of each Lender shall be in accordance with its Application Percentage of the Aggregate Revolver Commitment, a Defaulting Lender except commitment fee equal the Applicable Revolver Rate times the actual daily amount during each calendar month or portion thereof from the Closing Date to the extent that Maturity Date by which the Aggregate Revolver Commitment as in effect on such date minus the Outstanding amount of L/C Obligations with respect to Revolver Letters of Credit exceeds the Total Revolver Outstandings during such calendar month; and (iii) in connection with the WC Interim Loans, for the account of each Lender in accordance with its Applicable Percentage of the Aggregate WC Interim Commitment, a commitment fee shall otherwise have been due and payable equal to the Applicable WC Interim Rate times the actual daily amount during each calendar month or portion thereof from the WC Interim Effective Date to the Maturity Date by which the Borrowers prior Aggregate WC Interim Commitment as in effect on such date minus the Outstanding Amount of L/C Obligations with respect to WC Interim Letters of Credit exceeds the Total WC Interim Outstandings for WC Interim Loans during such time; provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lendercalendar month. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from during the first day of the Revolving Credit Availability Period for such Classor the WC Interim Availability Period, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Classas applicable, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly monthly in arrears on the last Business Day of each of March, June, September and Decembercalendar month, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectDate.
Appears in 3 contracts
Sources: Credit Agreement (Global Partners Lp), Credit Agreement (Global Partners Lp), Credit Agreement (Global Partners Lp)
Commitment Fee. The Borrowers agree Accruing from the date hereof until the Expiration Date, the Borrower agrees to pay to the Administrative Agent in Dollars for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided Lender, as consideration for under this Agreement, a commitment fee equal to the product of the Applicable Rate with respect to unused such Lender's Revolving Credit Commitment fees for hereunder, a nonrefundable commitment fee (the "Commitment Fee"), calculated on a per annum (365 or 366 days, as appropriate, and actual days elapsed) basis at the Applicable Commitment Fee Rate from time to time on the average daily difference between the amount of (a) such Class and the actual daily amount by which the aggregate Lender's Revolving Credit Commitment as the same may be constituted from time to time and (b) the principal amount of such Lender's Ratable Share of Revolving Facility Usage, in each case, as determined for the applicable Class of Revolving Credit Commitments exceeds immediately preceding fiscal quarter (or shorter period commencing with the sum of (A) Closing Date or ending with the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsExpiration Date); provided provided, however, that any commitment fee Commitment Fee accrued with respect to any of the Revolving Credit Commitments Commitment of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be is a Defaulting Lender except to the extent that such commitment fee Commitment Fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, and provided further that no commitment fee Commitment Fee shall accrue on any of the Revolving Credit Commitments Commitment of a Defaulting Lender so long as such Lender shall be is a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and All Commitment Fees shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of each January, April, July and October for the Revolving Credit Availability Period for such Class immediately preceding quarter, the date of each reduction of the Revolving Credit Commitments, and (ii) on the earlier Expiration Date or upon acceleration of (x) the Maturity Date for such Class Notes. For purposes of this computation, PNC Bank's outstanding Swing Loans shall be deemed to be borrowed amounts under its Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectCommitment.
Appears in 3 contracts
Sources: Credit Agreement (New Jersey Resources Corp), Credit Agreement (New Jersey Resources Corp), Credit Agreement (New Jersey Resources Corp)
Commitment Fee. The Borrowers agree to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments Facility in accordance with its Pro Rata Share or other applicable share provided for under this AgreementApplicable Percentage, a commitment fee equal to the product of the Applicable applicable Commitment Fee Rate with respect to unused Revolving Credit Commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds exceed the sum of (Aa) the Outstanding Amount of Revolving Credit Loans (for such Class the avoidance of Revolving Credit Commitments doubt, excluding any Swing Line Loans) and (Bb) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender under such Revolving Facility during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Commitments under any Revolving Credit Commitments Facility of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) Commitment shall accrue at all times starting from the first day Closing Date (or date of initial effectiveness, as applicable) (and for the avoidance of doubt, the commitment fee on the Revolving Credit Availability Period for such Class, Commitment under the Revolving Facility shall accrue from the Closing Date) until the earlier of (x) Maturity Date for the last day of the applicable Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitment, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsMarch 31, 2021, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Commitment Fee Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Commitment Fee Rate separately for each period during such quarter that such Applicable Commitment Fee Rate was in effect.
Appears in 3 contracts
Sources: Amendment No. 5 (Lumexa Imaging Holdings, Inc.), Amendment No. 2 (Lumexa Imaging Holdings, Inc.), Credit Agreement (Lumexa Imaging Holdings, Inc.)
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Lender that has a Revolving Credit Lender under Loan Commitment, for each Class day during the period (including any portion thereof when any of the Lenders' Revolving Credit Loan Commitments in accordance with its Pro Rata Share or other applicable share provided for under this Agreementare suspended by reason of the Borrower's inability to satisfy any condition of Article V) commencing on the Closing Date and continuing to but excluding the Revolving Loan Commitment Termination Date, a commitment fee on such Lender's Percentage of the unused portion, whether or not then available, of the Revolving Loan Commitment Amount (net of Letter of Credit Outstandings) for such day at a rate per annum equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment fees Fee for such Class and the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any day. Such commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly Borrower in arrears on the last Business Day of each of March, June, September and DecemberQuarterly Payment Date, commencing with the first such date during day following the first full fiscal quarter to occur after Closing Date, and on the first day Revolving Loan Commitment Termination Date. The making of Swing Line Loans shall not constitute usage of the Revolving Credit Availability Period Loan Commitment with respect to the calculation of commitment fees to be paid by the Borrower to the Lenders. Any term or provision hereof to the contrary notwithstanding, commitment fees payable for such Class any period prior to the Closing Date shall be payable in accordance with the Fee Letter. Payments by the Borrower to the Swing Line Lender in respect of Revolving Credit Commitments, and (ii) accrued interest on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date Swing Line Loans shall be net of the termination commitment fee payable in respect of the Swing Line Lender's Revolving Credit Commitments of such Class. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectLoan Commitment.
Appears in 3 contracts
Sources: Credit Agreement (Charles River Laboratories Holdings Inc), Credit Agreement (Charles River Laboratories Inc), Credit Agreement (Decisionone Corp /De)
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment Commitments commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; and provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, Closing Date until the earlier of (x) the last day of the Revolving Credit Availability Period Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitments, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitments. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 2 contracts
Sources: First Lien Credit Agreement (Portillo's Inc.), First Lien Credit Agreement (Portillo's Inc.)
Commitment Fee. The Borrowers agree to (a) Each of the Operating Borrower and the Acquisition Borrower shall pay to the Administrative Administration Agent for the account of the Lenders a fee (the “Commitment Fee”) in Canadian Dollars on the amount of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee equal to the product Lenders’ Proportion of the Applicable Rate with Total Commitment in respect of the Operating Facility or the Acquisition Facility, respectively, not utilized by the Operating Borrower or the Acquisition Borrower, as the case may be. In determining the amount of each Lender’s Proportion of the Total Commitment not utilized by the relevant Borrower:
(i) Borrowings in US Dollars shall be deemed to unused Revolving Credit be the Equivalent Amount thereof in Canadian Dollars; and
(ii) the following Borrowings shall be deemed to be a utilization only of the Issuing Lender’s Commitment, and shall not reduce any other Lender’s Proportion of the Total Commitment fees for such Class and not utilized by the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of Operating Borrower:
(A) Overdraft Advances made by the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and Issuing Lender pursuant to Section 3.14; and
(B) Contingent Payment Letters issued by the Outstanding Issuing Lender at the request of the Operating Borrower pursuant to Article 5 up to an aggregate Face Amount of L/C Obligations for Cdn.$11,000,000 (or the Equivalent Amount in US Dollars) outstanding at any one time.
(b) The Commitment Fee shall be calculated at the rate of:
(i) 55 basis points per annum calculated on a daily basis on the portion of the Total Commitment under the Acquisition Facility not utilized by the Acquisition Borrower on such Class of Revolving Credit Commitments; date, provided that any commitment fee accrued with the Commitment Fee shall cease to be payable in respect to any of the Revolving Credit Commitments Acquisition Facility upon the conversion of the Acquisition Facility to a Defaulting Lender during non-revolving facility on the period prior Conversion Date for the Acquisition Facility; and
(ii) 45 basis points per annum calculated on a daily basis on the portion of the Total Commitment under the Operating Facility not utilized by the Operating Borrower on such date, provided that the Commitment Fee shall cease to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by in respect of the Borrowers so long as such Lender Operating Facility upon the conversion of the Operating Facility to a non-revolving facility on the Conversion Date for the Operating Facility; and
(c) The Commitment Fee shall be a Defaulting Lender except to payable from and after the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, Effective Date and shall be due and payable (i) paid to the Administration Agent for the account of the Lenders quarterly in arrears on the last third Business Day following the end of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any calendar quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 2 contracts
Sources: Credit Agreement (Pope & Talbot Inc /De/), Credit Agreement (Pope & Talbot Inc /De/)
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments Facility in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee (“Commitment Fee”) equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable of a Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for of such Class (which shall exclude, for the avoidance of Revolving Credit Commitments doubt, any Swing Line Loans) and (B) the Outstanding Amount of L/C Obligations for of such Class of Revolving Credit CommitmentsClass; provided that (x) any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, that time and (y) no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Closing Date until the Maturity Date for the applicable Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of the applicable Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 2 contracts
Sources: Credit Agreement (Delta Tucker Holdings, Inc.), Credit Agreement (Delta Tucker Holdings, Inc.)
Commitment Fee. The Borrowers agree to Company shall pay to the Administrative Agent (x) for the account of each Multicurrency Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementApplicable Revolving Credit Percentage, a commitment fee (the ““Multicurrency Commitment Fee””) in Dollars calculated on a daily basis equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment fees for as of such Class and day times the actual daily amount by which the aggregate Aggregate Multicurrency Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds exceed the sum as of such day of (Ai) the Outstanding Amount of Multicurrency Revolving Credit Loans for such Class of Revolving Credit Commitments and (Bii) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any Multicurrency Letters of Credit, subject to adjustment as provided in Section 2.18 and (y) for the account of each USD Revolving Credit Commitments of Lender in accordance with its Applicable Revolving Credit Percentage, a Defaulting Lender during commitment fee (the period prior ““USD Commitment Fee””, and together with the Multicurrency Commitment Fee, the ““Commitment Fee””) in Dollars calculated on a daily basis equal to the time Applicable Rate as of such Lender became a Defaulting Lender day times the actual daily amount by which the Aggregate USD Revolving Commitments exceed the sum as of such day of (i) the Outstanding Amount of USD Revolving Credit Loans and unpaid at such time (ii) the Outstanding Amount of L/C Obligations with respect to USD Letters of Credit, subject to adjustment as provided in Section 2.18. For the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any counted towards or considered usage of the Aggregate Revolving Credit Commitments for purposes of a Defaulting Lender so long as such Lender shall be a Defaulting Lenderdetermining the Commitment Fee. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) Commitment Fee shall accrue at all times starting from during the first day of the Revolving Credit Availability Period for such Class, until with respect to the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Classapplicable Facility, including at any time during which one or more of the conditions in Article IV 4 is not met, and shall be due and payable (i) quarterly in arrears on the last fifth Business Day after the end of each of March, June, September and DecemberDecemberfiscal quarter, commencing with the first such date during the first full fiscal quarter to occur after the first RestatementFourth Amendment Effective Date, and on the last day of the Revolving Credit applicable Availability Period for such Class of Revolving Credit Commitments, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassPeriod. The commitment fee Commitment Fee shall be calculated quarterly in arrearsarrears on the last day of such quarter, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 2 contracts
Sources: Refinancing Amendment (Hologic Inc), Refinancing Amendment No. 4 and Amendment to Pledge and Security Agreement (Hologic Inc)
Commitment Fee. (i) The Borrowers agree to Borrower shall pay to the Administrative Agent for the account of the Revolving Credit Lenders a commitment fee (the "Commitment Fee"), from the date hereof in the case of each Initial Lender and from the effective date specified in the Assignment and Assumption pursuant to which it became a Revolving Credit Lender in the case of each other Revolving Credit Lender until, in each case, the Termination Date, payable in arrears on the date of the Initial Extension of Credit, thereafter quarterly on the last Business Day of each March, June, September and December, commencing June 30, 2002, and on the Termination Date, at the Applicable Percentage in effect from time to time on the sum of (i) the average daily Unused Revolving Credit Commitment of each Revolving Credit Lender under each Class of plus (ii) such Revolving Credit Commitments in accordance with its Lender's Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment fees for average daily outstanding Swing Line Advances during such Class and the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such timequarter; provided, furtherhowever, that no commitment fee Commitment Fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. .
(ii) The Borrower shall pay to the Administrative Agent for the account of the Term A Lenders a commitment fee on fee, from the date hereof in the case of each Class of Revolving Credit Commitments (unless otherwise Initial Lender and from the effective date specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from Assignment and Assumption pursuant to which it became a Term A Lender in the first day case of the Revolving Credit Availability Period for such Class, each other Term A Lender until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination Term A Advances, payable on such date at the rate of 0.50% per annum on the amount of the Revolving Credit Commitments of such Class, including at any time during which one or more respective Term A Lender's respective Term A Commitment.
(iii) The Borrower shall pay to the Administrative Agent for the account of the conditions Term B Lenders a commitment fee, from the date hereof in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day case of each Initial Lender and from the effective date specified in the Assignment and Assumption pursuant to which it became a Term B Lender in the case of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) each other Term B Lender until the date of the termination second Term B Advance, payable on such date at the rate of 0.50% per annum on the unused amount of the Revolving Credit Commitments of such Class. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period respective Term B Lender's respective Term B Commitment during such quarter that such Applicable Rate was in effectperiod.
Appears in 2 contracts
Sources: Credit Agreement (Davita Inc), Credit Agreement (Davita Inc)
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Revolver Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementShare, a commitment fee equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and multiplied by the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds exceed the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided provided, that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; and provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of the Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Closing Date until the Maturity Date for the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. For the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be counted towards or considered usage of the Aggregate Commitments for purposes of determining the commitment fee.
Appears in 2 contracts
Sources: Credit Agreement (Halyard Health, Inc.), Credit Agreement (Halyard Health, Inc.)
Commitment Fee. The Borrowers agree With respect to each Class of Revolving Credit Commitments, the Borrower shall pay to the Administrative Agent for the account of each Revolving Credit Lender under each such Class of Revolving Credit Commitments then in effect in accordance with its Pro Rata Share or other applicable share provided for under this AgreementShare, a commitment fee equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment commitment fees then in effect for such Class and of Revolving Credit Commitments, multiplied by the actual daily amount by which the aggregate Revolving Credit Commitment Commitments for the applicable such Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans (excluding, for the avoidance of doubt, Swing Line Loans) under such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class (but not, for the avoidance of Revolving Credit Commitmentsdoubt, the Outstanding Amount of Swing Line Loans); provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender Lender, except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; and provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments under any Facility of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of fees for any Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Closing Date (or from the Revolving Credit Availability Period for such Class, until date on which the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of applicable Revolving Credit Commitments and (ycome into effect in accordance with the terms hereof) until the date of Maturity Date for the termination of the applicable Class under each Revolving Credit Commitments of such ClassFacility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day last Business Day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsDecember 2021, and (ii) on the earlier of (x) the Maturity Date for such the applicable Class of under each Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 2 contracts
Sources: Credit Agreement (Cincinnati Bell Inc), Credit Agreement (Cincinnati Bell Inc)
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments Facility in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment Loan commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments Facility exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans (which shall exclude, for the avoidance of doubt, any Swing Line Loans) for such Class of Revolving Credit Commitments Facility and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsFacility; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; and provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Closing Date until the Maturity Date for the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 2 contracts
Sources: Credit Agreement (Res Care Inc /Ky/), Credit Agreement (Res Care Inc /Ky/)
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments Facility in accordance with its Pro Rata Share or other applicable share provided for under this AgreementApplicable Percentage, a commitment fee in Dollars equal to the product of the Applicable applicable Commitment Fee Rate with respect to unused Revolving Credit Commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds exceed the sum of (Aa) the Outstanding Amount of Revolving Credit Loans (for such Class the avoidance of Revolving Credit Commitments doubt, excluding any Swing Line Loans) and (Bb) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender under such Revolving Facility during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Commitments under any Revolving Credit Commitments Facility of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) Commitment shall accrue at all times starting from the first day Closing Date (or date of initial effectiveness, as applicable) (and for the avoidance of doubt, the commitment fee on the Revolving Credit Availability Period for such Class, Commitment under the Closing Date Revolving Facility shall accrue from the Closing Date) until the earlier of (x) Maturity Date for the last day of the applicable Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitment, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsDecember 31, 2018, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Commitment Fee Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Commitment Fee Rate separately for each period during such quarter that such Applicable Commitment Fee Rate was in effect.
Appears in 2 contracts
Sources: Credit Agreement (Cushman & Wakefield PLC), Credit Agreement (Cushman & Wakefield PLC)
Commitment Fee. The Borrowers agree With respect to each Class of Revolving Credit Commitments, the Borrower shall pay to the Administrative Agent (i) for any period prior to the date on which an Extension Amendment becomes effective, for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments then in effect in accordance with its Pro Rata Share or other applicable share provided for under this AgreementShare, a commitment fee equal to the product clause (ii) of the Applicable Rate with respect to unused commitment fees then in effect for each such Class of Revolving Credit Commitment fees for such Class and Commitments times the actual daily amount by which the aggregate Revolving Credit Commitment Commitments for the applicable each such Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans (for the avoidance of doubt, excluding any Swing Line Loans) under each such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for each such Class and (ii) for any period after the date on which an Extension Amendment becomes effective (and for so long as the Non-Extended Revolving Credit Commitments and Extended Revolving Credit Commitments resulting from such Extension Amendment (or any Revolving Credit Exposure thereunder) remain outstanding), for the account of each Non-Extending Revolving Credit Lender and each Extending Revolving Credit Lender under each Class of Non-Extended Revolving Credit Commitments and Extended Revolving Credit Commitments resulting from such Extension Amendment in accordance with its Other Allocable Share of such Non-Extended Revolving Credit Commitments and such Extended Revolving Credit Commitments, respectively, a commitment fee equal to the Applicable Rate with respect to commitment fees in respect of such Non-Extended Revolving Credit Commitments or the Extended Revolving Credit Commitments, as the case may be, times the Allocable Revolving Share of the Non-Extending Revolving Credit Lenders or the Extending Revolving Credit Lenders, as the case may be, of the actual daily amount by which the aggregate Revolving Credit Commitments for each such Class exceed the sum of (A) the Outstanding Amount of Revolving Credit CommitmentsLoans (for the avoidance of doubt, excluding any Swing Line Loans) under each such Class and (B) the Outstanding Amount of L/C Obligations under each such Class; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Revolving Credit Commitments under any Facility of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of fees for the Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of date hereof (or from the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of date on which Revolving Credit Commitments and (yfor the applicable Facility come into effect in accordance with the terms hereof) until the date of the termination of the Original Revolving Credit Commitments of Maturity Date or the applicable Maturity Date for such ClassFacility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during last Business Day of June, 2021, and on the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period applicable Maturity Date for such Class of Revolving Credit Commitments, Facility (and (ii) on the earlier of (x) the Maturity Date for such Class of any Non-Extended Revolving Credit Commitments (with respect to commitment fees accrued for the accounts of Non-Extending Revolving Credit Lenders) and (y) the date of the termination of the Maturity Date for Extended Revolving Credit Commitments (with respect to commitment fees accrued for the accounts of Extending Revolving Credit Lenders) for any such ClassFacility in respect of which an Extension Amendment has been effected). The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 2 contracts
Sources: Credit Agreement and Security Agreement (Solo Brands, Inc.), Credit Agreement (Solo Brands, Inc.)
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments Facility in accordance with its Pro Rata Share or other applicable share provided for under this AgreementApplicable Percentage, a commitment fee equal to the product of the Applicable applicable Commitment Fee Rate with respect to unused Revolving Credit Commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds exceed the sum of (Aa) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (Bb) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender under such Revolving Facility during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Commitments under any Revolving Credit Commitments Facility of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) Commitment shall accrue at all times starting from the first day Closing Date (or date of initial effectiveness, as applicable) (and for the avoidance of doubt, the commitment fee on the Revolving Credit Availability Period for such Class, Commitment under the Closing Date Revolving Facility shall accrue from the Closing Date) until the earlier of (x) Maturity Date for the last day of the applicable Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitment, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsDecember 29, 2017, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Commitment Fee Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Commitment Fee Rate separately for each period during such quarter that such Applicable Commitment Fee Rate was in effect.
Appears in 2 contracts
Sources: First Lien Credit Agreement (McAfee Corp.), First Lien Credit Agreement (McAfee Corp.)
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementLender, a commitment fee (the “Commitment Fee”), which shall accrue at a rate per annum equal to the product of Applicable Margin on the Applicable Rate with respect to average daily unused Revolving Credit Commitment fees for such Class and the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments Commitment of a Defaulting such Revolving Lender during the period prior from and including the date on which this Credit Agreement becomes effective pursuant to Section 10.6(a) to but excluding the date on which such Revolving Commitment terminates; provided that, if such Revolving Lender continues to have any Revolving Exposure after its Revolving Commitment terminates, the Commitment Fee shall continue to accrue on the daily amount of such Revolving Lender’s Revolving Exposure from and including the date on which such Revolving Lender’s Revolving Commitment terminates to but excluding the date on which such Revolving Lender ceases to have any Revolving Exposure. For purposes of computing Commitment Fees, the Revolving Commitment of any Revolving Lender shall be deemed to be used to the time such Lender became a Defaulting Lender and unpaid extent of the aggregate principal amount at such time of its outstanding Revolving Loans and such Lender’s L/C Exposure. Accrued Commitment Fees shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each day of March, June, September and DecemberDecember of each year, each date on which the Revolving Commitments are permanently reduced and on the date on which the Revolving Commitments terminate, commencing with on the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassAgreement Date. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount All Commitment Fees shall be computed on the basis of a year of 360 days and multiplied by shall be payable for the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectactual number of days elapsed (including the first day but excluding the last day).
Appears in 2 contracts
Sources: Credit Agreement (Ooma Inc), Credit Agreement (Synchronoss Technologies Inc)
Commitment Fee. The Borrowers agree to Company shall pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this Agreementof the Revolving Credit Commitments, a commitment fee equal to the product of the Applicable Rate with respect to unused commitment fees in respect of such Revolving Credit Commitment fees for such Class and Commitments times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds exceed the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Company so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Company prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Sixth Amendment Effective Date until the Maturity Date for the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility, including at any time during which one or more of the conditions in Article IV 4 is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, Sixth Amendment Effective Date and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly (or in respect of any shorter period for which commitment fees are required to be paid) in arrears, and if there is any change in the Applicable Rate during any quarterquarter (or any such shorter period), the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 2 contracts
Sources: Credit Agreement (Sungard Data Systems Inc), Credit Agreement (Sungard Capital Corp Ii)
Commitment Fee. The Borrowers agree to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 2 contracts
Sources: Additional Facility Joinder Agreement (Liberty Latin America Ltd.), Extension Amendment (Liberty Latin America Ltd.)
Commitment Fee. (i) The Borrowers agree to Borrower shall pay to the Administrative Agent for the account of each the Revolving Credit Lenders a commitment fee (the “Revolving Credit Commitment Fee”), from and including the date hereof in the case of each Person that is a Lender under as of the date hereof and from and including the effective date specified in the Assignment and Acceptance pursuant to which it became a Lender in the case of each Class other Lender until the Termination Date in respect of the Revolving Credit Commitment, payable in arrears, quarterly, as invoiced by the Administrative Agent on or before the due date, on the last day of each April, July, October and January, commencing July 31, 2006, and on the Termination Date in respect of the applicable Facility, at the Applicable Percentage in respect of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee equal to Commitment Fee on the product of the Applicable Rate with respect to unused average daily Unused Revolving Credit Commitment fees for of such Class and the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of Lender; provided, however, that (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any outstanding Swing Line Advances shall not constitute usage of the Revolving Credit Commitments for purposes of a Defaulting Lender during calculating the period prior to the time such Lender became a Defaulting Lender foregoing and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that (B) no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. .
(ii) The Borrower shall pay to the Administrative Agent for the account of the Term B-2 Lenders a commitment fee on (the “Delayed Draw Commitment Fee”), from and including the date hereof in the case of each Class Person that is a Lender as of Revolving Credit Commitments (unless otherwise the date hereof and from and including the effective date specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from Assignment and Acceptance pursuant to which it became a Term B-2 Lender in the first day case of the Revolving Credit Availability Period for such Class, each other Lender until the earlier termination or expiration of (x) each Lender’s Term B-2 Commitment, payable in arrears, quarterly, as invoiced by the Administrative Agent on or before the due date, on the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments each April, July, October and (y) January, commencing July 31, 2006, and on the date of the termination of such Lender’s Term B-2 Commitment, at the Revolving Credit Commitments Applicable Percentage in respect of Delayed Draw Commitment Fee on the unused Term B-2 Commitment of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectLender.
Appears in 2 contracts
Sources: Credit Agreement (CBRL Group Inc), Credit Agreement (CBRL Group Inc)
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementShare, a commitment fee equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and 0.75% times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Closing Date until the Maturity Date for the Revolving Credit Availability Period for Facility (or such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of on which the Revolving Credit Commitments of such Classhave been terminated), including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of the Revolving Credit Commitments and Facility (y) the or such earlier date of the termination of on which the Revolving Credit Commitments of such Classhave been terminated). The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate Margin during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate Margin separately for each period during such quarter that such Applicable Rate Margin was in effect. Notwithstanding the foregoing, the provisions of this Section 2.09(a) to the extent otherwise applicable to Extended Revolving Credit Commitments shall be subject to modification as expressly provided in Section 2.17.
Appears in 2 contracts
Sources: Credit Agreement (Styron Canada ULC), Credit Agreement (Trinseo S.A.)
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of the applicable Revolving Credit Commitments Facility in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee in Dollars equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and Loan commitment fees, times the actual daily amount by which the aggregate Revolving Credit Commitment Commitments for the applicable Class of Revolving Credit Commitments Facility exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments Facility, and (BA) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsFacility; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender Lender, except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; and provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Closing Date until the Maturity Date for the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitments, including at any time during which one or more of the conditions in Article IV 4 is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsSeptember 30, 2017 and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitments. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 2 contracts
Sources: Credit Agreement (Alight, Inc. /DE), Credit Agreement (Alight, Inc. / Delaware)
Commitment Fee. The Borrowers Borrowers, jointly and severally, agree to pay to the Administrative Agent for the account of each Lender, for the period (including any portion thereof when any of its Commitments are suspended by reason of the Borrowers’ inability to satisfy any condition of Article V) (a) commencing on the Closing Date and continuing through the earlier of (i) the Acquisition Date and (ii) the Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementLoan Commitment Termination Date, a commitment fee in an amount per annum equal to 0.50% on such Lender’s Percentage of the sum of the average daily unused portion of the Revolving Loan Commitment Amount less the average daily amount of the Letter of Credit Outstandings; (b) commencing on the date on which such Lender becomes a “Lender of Record” in respect of the Delayed Draw Term B Commitment and continuing through the earlier of (i) the Acquisition Date and (ii) the Delayed Draw Term B Commitment Termination Date, a commitment fee in an amount per annum equal to 1.00% on such Lender’s Percentage of the sum of the average daily unused portion of the Delayed Draw Term B Commitment Amount; and (c) commencing on the Acquisition Date and continuing through the Revolving Loan Commitment Termination Date, a commitment fee in an amount per annum equal to the product Applicable Commitment Fee on such Lender’s Percentage of the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any average daily unused portion of the Revolving applicable Commitment Amount less the average daily amount of the Letter of Credit Commitments of a Defaulting Lender during the period prior Outstandings. All commitment fees payable pursuant to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender this Section shall be calculated on a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due year comprised of 360 days and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on (a) the last Business Day Revolving Loan Commitment Termination Date, in the case of clause (a) above, (b) the Delayed Draw Term B Commitment Termination Date, in the case of clause (b) above and (c) each Quarterly Payment Date, in the case of March, June, September and Decemberclause (c) above, commencing with the first such date during Quarterly Payment Date following the first full fiscal quarter to occur after Effective Date, and on the first day Revolving Loan Commitment Termination Date. The making of Swing Line Loans shall not constitute usage of the Revolving Credit Availability Period for such Class Loan Commitment with respect to the calculation of Revolving Credit Commitments, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class. The commitment fee shall fees to be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied paid by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectBorrowers to the Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Sabre Industries, Inc.), Credit Agreement (Sabre Industries, Inc.)
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments Facility in accordance with its Pro Rata Share or other applicable share provided for under this AgreementApplicable Percentage, a commitment fee equal to the product of the Applicable applicable Commitment Fee Rate with respect to unused Revolving Credit Commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds exceed the sum of (Aa) the Outstanding Amount of Revolving Credit Loans (for such Class the avoidance of Revolving Credit Commitments doubt, excluding any Swing Line Loans) and (Bb) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender under such Revolving Facility during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Commitments under any Revolving Credit Commitments Facility of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) Commitment shall accrue at all times starting from the first day Closing Date (or date of initial effectiveness, as applicable) (and for the avoidance of doubt, the commitment fee on the Revolving Credit Availability Period for such Class, Commitment under the Closing Date Revolving Facility shall accrue from the Closing Date) until the earlier of (x) Maturity Date for the last day of the applicable Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitment, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsJune 30, 2020, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectFacility.
Appears in 2 contracts
Sources: Credit Agreement (LifeStance Health Group, Inc.), Credit Agreement (LifeStance Health Group, Inc.)
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Agent (a) for the account of each Lender that has a Revolving Credit Lender under each Class A-1 Loan Commitment, for the period (including any portion thereof when any of the Lender’s Commitments are suspended by reason of the Borrower’s inability to satisfy any condition of Article V) commencing on the 2010 Loan Modification Effective Date and continuing through the Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementA-1 Loan Commitment Termination Date, a commitment fee at a rate per annum equal to the product Applicable Commitment Fee Margin, in each case on such Lender’s Percentage of the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of the average daily unused portion of the applicable Revolving Loan Commitment Amount attributable to Revolving A-1 Loan Commitments (Anet of Letter of Credit Outstandings attributable to Revolving A-1 Loan Commitments), (b) for the Outstanding Amount account of each Lender that has a Revolving Credit Loans A-2 Loan Commitment, for such Class of Revolving Credit Commitments and the period (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that including any commitment fee accrued with respect to portion thereof when any of the Lender’s Commitments are suspended by reason of the Borrower’s inability to satisfy any condition of Article V) commencing on the Restatement Effective Date and continuing through the Revolving Credit Commitments of A-2 Loan Commitment Termination Date, a Defaulting Lender during the period prior commitment fee at a rate per annum equal to the time Applicable Commitment Fee Margin, in each case on such Lender’s Percentage of the sum of the average daily unused portion of the applicable Revolving Loan Commitment Amount attributable to Revolving A-2 Loan Commitments (net of Letter of Credit Outstandings attributable to Revolving A-2 Loan Commitments), (c) for the account of each Lender became that has an Other Revolving Loan Commitment as provided for in the applicable Loan Modification Agreement and (d) for the account of each Lender that has a Defaulting Lender and unpaid at such time Designated Additional Revolving Loan Commitment as determined pursuant to Section 2.1.6(a). The commitment fees shall not be payable by the Borrowers so long Borrower in arrears on each Quarterly Payment Date, and on the Revolving A-1 Loan Commitment Termination Date, the Revolving A-2 Loan Commitment Termination Date, the Other Revolving Loan Termination Date or the Designated Additional Revolving Loan Termination Date, as such the case may be. The making of Swing Line Loans by the Swing Line Lender shall be a Defaulting Lender except to constitute the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any usage of the Revolving Credit Commitments of a Defaulting Loan Commitment with respect to the Swing Line Lender so long as such Lender shall only and the commitment fees to be a Defaulting paid by the Borrower to the Lenders (other than the Swing Line Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectpaid accordingly.
Appears in 2 contracts
Sources: Amendment Agreement (Weight Watchers International Inc), Credit Agreement (Weight Watchers International Inc)
Commitment Fee. The Borrowers agree to pay pay, on a joint and several basis, to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share of the Non-Extended Revolving Credit Facility or other applicable share provided for under this Agreementthe Extended Revolving Credit Facility, as applicable, a commitment fee equal to the product of the Applicable Rate with respect to for unused Revolving Credit Commitment commitment fees for such Class and multiplied by the actual daily amount by which (i) in the case of Non-Extended Revolving Credit Lenders, the aggregate Non-Extended Revolving Credit Commitment for exceeds the applicable Class sum of the Outstanding Amount of Non-Extended Revolving Credit Commitments Loans and (ii) in the case of Extended Revolving Credit Lenders, the aggregate Extended Revolving Credit Commitment exceeds the sum of (A) the Outstanding Amount of Extended Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of Extended L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided provided, that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; and provided, further, that no commitment Defaulting Lender shall be entitled to receive any fee shall accrue on payable under this Section 2.09(a) for any of the Revolving Credit Commitments of period during which such Lender is a Defaulting Lender so long as (and the Borrowers shall not be required to pay any such Lender shall fee that otherwise would have been required to be a paid to that Defaulting Lender). The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Closing Date until the Maturity Date for the applicable Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility, including at any time during which one or more of the conditions in Article IV 4 is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of the applicable Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. For the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be counted towards or considered usage of the Aggregate Commitments for purposes of determining the commitment fee.
Appears in 2 contracts
Sources: Credit Agreement (Uniti Group Inc.), Credit Agreement (Uniti Group Inc.)
Commitment Fee. The Borrowers agree to Lead Borrower shall pay to the Administrative Agent Agent:
(i) for the account of each Tranche 1 Revolving Credit Lender under each Class of Revolving Credit Commitments (other than to any Defaulting Lender for any period during which it is a Defaulting Lender) in accordance with its Pro Rata Share or other applicable share provided for under this AgreementTranche 1 Applicable Percentage, a commitment fee (the “Tranche 1 Commitment Fee”) equal to the product of Applicable Fee Rate times the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and the actual average daily amount by which the aggregate amount of the Tranche 1 Revolving Credit Commitment for the applicable Class of such Tranche 1 Revolving Credit Commitments Lender exceeds the sum Tranche 1 Revolving Credit Exposure of such Tranche 1 Revolving Credit Lender (A) excluding when calculating such Tranche 1 Revolving Credit Exposure, the aggregate Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments Tranche 1 Swing Line Participations and (B) the aggregate Outstanding Amount of L/C Obligations for Tranche 1 Protective Advance Participations of such Class of Tranche 1 Revolving Credit CommitmentsLender); provided that any commitment fee accrued with respect and
(ii) for the account of each Tranche 2 Revolving Credit Lender (other than to any of the Revolving Credit Commitments of a Defaulting Lender for any period during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be which it is a Defaulting Lender) in accordance with its Tranche 2 Applicable Percentage, a commitment fee (the “Tranche 2 Commitment Fee”, and together with the Tranche 1 Commitment Fee, the “Commitment Fees”) equal to the Applicable Fee Rate times the average daily amount by which the aggregate amount of the Tranche 2 Revolving Credit Commitment of such Tranche 2 Revolving Credit Lender exceeds the Tranche 2 Revolving Credit Exposure of such Tranche 2 Revolving Credit Lender (excluding when calculating such Tranche 2 Revolving Credit Exposure, the aggregate Outstanding Amount of Tranche 2 Swing Line Participations and the aggregate Outstanding Amount of Tranche 2 Protective Advance Participations of such Tranche 2 Revolving Credit Lender). The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) fees shall accrue at all times starting from during the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassPeriod, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first Closing Date, and on the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassPeriod. The commitment fee fees shall be calculated quarterly in arrears, and if there is any change in the Applicable Fee Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Fee Rate separately for each period during such quarter that such Applicable Fee Rate was in effect.
Appears in 2 contracts
Sources: Credit Agreement (Dominion Textile (Usa), L.L.C.), Credit Agreement (Dominion Textile (Usa), L.L.C.)
Commitment Fee. The Borrowers agree to Company shall pay to the Administrative Agent (x) for the account of each Multicurrency Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementApplicable Revolving Credit Percentage, a commitment fee (the “Multicurrency Commitment Fee”) in Dollars calculated on a daily basis equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment fees for as of such Class and day times the actual daily amount by which the aggregate Aggregate Multicurrency Revolving Commitments exceed the sum as of such day of Exhibit A the Outstanding Amount of Multicurrency Revolving Credit Commitment Loans and Exhibit B the Outstanding Amount of L/C Obligations with respect to Multicurrency Letters of Credit, subject to adjustment as provided in Section 2.18 and (y) for the applicable Class account of each USD Revolving Credit Lender in accordance with its Applicable Revolving Credit Percentage, a commitment fee (the “USD Commitment Fee”, and together with the Multicurrency Commitment Fee, the “Commitment Fee”) in Dollars calculated on a daily basis equal to the Applicable Rate as of such day times the actual daily amount by which the Aggregate USD Revolving Commitments exceeds exceed the sum as of such day of (Ai) the Outstanding Amount of USD Revolving Credit Loans for such Class of Revolving Credit Commitments and (Bii) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any USD Letters of Credit, subject to adjustment as provided in Section 2.18. For the Revolving Credit Commitments avoidance of a Defaulting Lender during doubt, the period prior to the time such Lender became a Defaulting Lender and unpaid at such time Outstanding Amount of Swing Line Loans shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any counted towards or considered usage of the Aggregate Revolving Credit Commitments for purposes of a Defaulting Lender so long as such Lender shall be a Defaulting Lenderdetermining the Commitment Fee. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) Commitment Fee shall accrue at all times starting from during the first day of the Revolving Credit Availability Period for such Class, until with respect to the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Classapplicable Facility, including at any time during which one or more of the conditions in Article IV 4 is not met, and shall be due and payable (i) quarterly in arrears on the last fifth Business Day after the end of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first Restatement Date, and on the last day of the Revolving Credit applicable Availability Period for such Class of Revolving Credit Commitments, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassPeriod. The commitment fee Commitment Fee shall be calculated quarterly in arrearsarrears on the last day of such quarter, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 2 contracts
Sources: Refinancing Amendment (Hologic Inc), Credit and Guaranty Agreement (Hologic Inc)
Commitment Fee. The Borrowers agree to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of the applicable Revolving Credit Commitments Facility in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee in Dollars equal to the product of the Applicable Commitment Fee Rate with respect to unused Revolving Credit Commitment fees for such Class and Loan, times the actual daily amount by which the aggregate Revolving Credit Commitment Commitments for the applicable Class of Revolving Credit Commitments Facility exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments Facility, and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsFacility; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender Lender, except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; and provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Closing Date until the Maturity Date for the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitments, including at any time during which one or more of the conditions in Article IV 4 is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsMarch 31, 2020 and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitments. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Commitment Fee Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Commitment Fee Rate separately for each period during such quarter that such Applicable Commitment Fee Rate was in effect.
Appears in 2 contracts
Sources: Credit Agreement (Bumble Inc.), Credit Agreement (Bumble Inc.)
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments Facility in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee equal to the product of the Applicable Commitment Fee Rate with respect to unused Revolving Credit Commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments Facility exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments Facility and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsFacility; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; and provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Closing Date until the Maturity Date for the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Commitment Fee Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Commitment Fee Rate separately for each period during such quarter that such Applicable Commitment Fee Rate was in effect.
Appears in 2 contracts
Sources: Abl Credit Agreement (Prestige Brands Holdings, Inc.), Abl Credit Agreement (Prestige Brands Holdings, Inc.)
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of the applicable Revolving Credit Commitments Facility in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee in Dollars equal to the product of the Applicable Commitment Fee Rate with respect to unused Revolving Credit Commitment fees for such Class and Loans, times the actual daily amount by which the aggregate Revolving Credit Commitment Commitments for the applicable Class of Revolving Credit Commitments Facility exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments Facility, and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsFacility; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender Lender, except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; and provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Closing Date until the Maturity Date for the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitments, including at any time during which one or more of the conditions in Article IV 4 is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsSeptember 30, 2021 and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitments. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Commitment Fee Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Commitment Fee Rate separately for each period during such quarter that such Applicable Commitment Fee Rate was in effect.
Appears in 2 contracts
Sources: Credit Agreement (NRG Energy, Inc.), Credit Agreement (Vivint Smart Home, Inc.)
Commitment Fee. The Borrowers agree to Company shall pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this Agreementof the Revolving Credit Commitments, a commitment fee equal to the product of the Applicable Rate with respect to unused commitment fees in respect of such Revolving Credit Commitment fees for such Class and Commitments times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds exceed the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Company so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Company prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Fourth Amendment Effective Date until the Maturity Date for the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility, including at any time during which one or more of the conditions in Article IV 4 is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, Fourth Amendment Effective Date and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly (or in respect of any shorter period for which commitment fees are required to be paid) in arrears, and if there is any change in the Applicable Rate during any quarterquarter (or any such shorter period), the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 2 contracts
Sources: Credit Agreement (Sungard Capital Corp Ii), Credit Agreement (GL Trade Overseas, Inc.)
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments Facility in accordance with its Pro Rata Share or other applicable share provided for under this AgreementApplicable Percentage, a commitment fee equal to the product of the Applicable applicable Commitment Fee Rate with respect to unused Revolving Credit Commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds exceed the sum of (Aa) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (Bb) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender under such Revolving Facility during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; and provided, further, that no commitment fee shall accrue on any of the Commitments under any Revolving Credit Commitments Facility of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) Commitment shall accrue at all times starting from the first day Closing Date (or date of initial effectiveness, as applicable) (and for the avoidance of doubt, the commitment fee on the Revolving Credit Availability Period for such Class, Commitment under the Closing Date Revolving Facility shall accrue from the Closing Date) until the earlier of (x) Maturity Date for the last day of the applicable Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitment, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day last Business Day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsSeptember, 2017, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Commitment Fee Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Commitment Fee Rate separately for each period during such quarter that such Applicable Commitment Fee Rate was in effect.
Appears in 2 contracts
Sources: Credit Agreement (GreenSky, Inc.), Credit Agreement (GreenSky, Inc.)
Commitment Fee. The Borrowers agree to pay to US Administrative Agent (for distribution as the Administrative Agent Agents may separately agree) a commitment fee (a “Commitment Fee”) (i) for the account of each Tranche A Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee equal to the product Applicable Fee per annum for Tranche A Revolving Commitments on the average daily unused amount of the Applicable Rate with respect Tranche A Revolving Commitment of such Lender during the period from and including the Closing Date to unused but excluding the date on which such Tranche A Revolving Credit Commitment fees for such Class terminates and the actual daily amount by which the aggregate Revolving Credit Commitment (ii) for the applicable Class account of each Tranche B Revolving Credit Commitments exceeds the sum of Lender equal to (Ax) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to and including the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by Restatement Date, the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Applicable Fee per annum for Tranche A Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) during the period from and including the Restatement Date to but excluding the date on which such Tranche B Revolving Commitment terminates, the Applicable Fee per annum for Tranche B Revolving Commitments, in each case, on the average daily unused amount of the termination of the Tranche B Revolving Credit Commitments Commitment of such Class, including at any time during which one or more of the conditions in Article IV is not met, and Lender. Accrued Commitment Fees shall be due and payable (i) quarterly in arrears (A) on the last Business Day of each of March, June, September and DecemberDecember of each year, commencing with on the first such date during the first full fiscal quarter to occur after the first day of the Closing Date, (B) with respect to Tranche A Revolving Credit Availability Period for such Class of Revolving Credit Commitments, on the Tranche A Revolving Maturity Date and (iiC) with respect to Tranche B Revolving Commitments, on the earlier of (x) the Tranche B Revolving Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassDate. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount Commitment Fees shall be computed on the basis of a year of 360 days and multiplied by shall be payable for the Applicable Rate separately actual number of days elapsed (including the first day but excluding the last day). For purposes of computing Commitment Fees with respect to Revolving Commitments, a Revolving Commitment of a Lender shall be deemed to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline Exposure of such Lender shall be disregarded for each period during such quarter that such Applicable Rate was in effectpurpose).
Appears in 1 contract
Commitment Fee. The Borrowers agree to Company shall pay to the Administrative Agent for the account of each 2011 Revolving Credit Lender under and each Class of 2013 Revolving Credit Commitments Lender in accordance with its Pro Rata Share or other applicable share provided for under this Agreementof the 2011 Revolving Credit Commitments and the 2013 Revolving Credit Commitments, respectively, a commitment fee equal to the product of the Applicable Rate with respect to unused commitment fees in respect of such Revolving Credit Commitment fees for such Class and Commitments times the Allocable Revolving Share of the 2011 Revolving Credit Lenders or the 2013 Revolving Credit Lenders, as the case may be, of the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds exceed the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Company so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Company prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of date hereof until the Maturity Date for the 2013 Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitments, including at any time during which one or more of the conditions in Article IV 4 is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of the 2011 Revolving Credit Commitments and (y) with respect to commitment fees accrued for the date accounts of the termination of the 2011 Revolving Credit Commitments of such ClassLenders) and the Maturity Date for the 2013 Revolving Credit Commitments. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 1 contract
Commitment Fee. The Borrowers agree to Company shall pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee equal to on the product daily average unused amount (a) of the Applicable Rate with respect to unused Revolving Credit such Lender's Tranche 1 Commitment fees and (b) of such Lender's Tranche 2 Commitment (for such Class and the actual daily amount by which purpose the aggregate Revolving amount of any Letter of Credit Commitment Liabilities shall be deemed to be a pro rata (based on the Tranche 2 Commitments) use of each Lender's Tranche 2 Commitment), in either case for the applicable Class period from and including the date of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect this Agreement to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall but not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until including the earlier of (xi) the date such Tranche 1 Commitment or Tranche 2 Commitment, as applicable, is terminated and (ii) the Tranche 1 Commitment Termination Date or the Tranche 2 Commitment Termination Date, as applicable, at the Applicable Commitment Fee Rate. "Applicable Commitment Fee Rate" shall mean the rate calculated by reference to the Total Debt to Cash Flow Ratio as at the last day of the Revolving Credit Availability Period most recently ended fiscal quarter of the Company (a "Commitment Fee Testing Date"), which if such Total Debt to Cash Flow Ratio shall fall within any of the ranges set forth in the table below, then, the "Applicable Commitment Fee Rate" shall be the respective percentage per annum set forth opposite such range in said table, in either case during the period commencing on the Margin Change Date for such Class of Revolving Credit Commitments and Commitment Testing Date to but not including the Margin Change Date for the next succeeding Commitment Fee Testing Date (y) except that notwithstanding the date of foregoing, the termination of the Revolving Credit Commitments of such Class, including at Applicable Commitment Fee Rate shall not be reduced for any time period during which one or more an Event of the conditions in Article IV is not met, Default shall have occurred and be continuing): Total Debt to Cash Flow Ratio Commitment Fee Rate ----------------------------- ------------------- 3.00 to 1 0.25% 4.00 to 1 0.375% 5.00 to 1 0.50% > 5.00 to 1 0.75% Accrued commitment fees shall be due payable on each Quarterly Date and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (yi) the date of the termination of Tranche 1 Commitments or the Revolving Credit Commitments of such Class. The commitment fee shall be calculated quarterly in arrearsTranche 2 Commitments, as applicable, are terminated and if there is any change in (ii) the Applicable Rate during any quarterTranche 1 Commitment Termination Date or the Tranche 2 Commitment Termination Date, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectas applicable.
Appears in 1 contract
Sources: Credit Agreement (Clientlogic Corp)
Commitment Fee. The Borrowers agree to Borrower shall pay to the Administrative Agent Agent, for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementApplicable Revolving Percentage, a commitment fee (the “Commitment Fee”) equal to the product of (i) the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and times (ii) the actual daily amount by which the aggregate Aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds exceed the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; Obligations, provided that any commitment fee Commitment Fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Revolving Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Revolving Lender shall be a Defaulting Lender except to the extent that such commitment fee Commitment Fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, and provided further that no commitment fee Commitment Fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Revolving Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) Commitment Fee shall accrue at all times starting from during the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassPeriod, including at any time during which one or more of the conditions in Article IV 5 is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassDate. The commitment fee Commitment Fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. For purposes of clarification, Swing Line Loans shall not be considered outstanding solely for purposes of determining the unused portion of the Aggregate Revolving Commitments in connection with the calculation of the Commitment Fee.
Appears in 1 contract
Sources: Credit Agreement (Ipayment Inc)
Commitment Fee. (a) The Borrowers Domestic Borrowers, jointly and severally, hereby agree to pay to the Administrative Agent for the account accounts of each Revolving Credit Lender under each Class of Revolving Credit Commitments the Domestic Lenders in accordance with its Pro Rata Share or other applicable share provided for under this Agreementtheir respective Commitment Percentages, a commitment fee equal to in Dollars (the product of “Domestic Revolving Loan Commitment Fee”) at the Applicable applicable Commitment Fee Rate with respect to unused Revolving Credit Commitment fees for such Class and per annum on the actual daily amount during each calendar quarter or portion thereof from the Closing Date to the Maturity Date by which the aggregate Aggregate Domestic Revolving Credit Commitment Loan Commitments exceed the Total Domestic Revolver Exposure (excluding the outstanding principal amount of the Domestic Swingline Loans).
(b) The European Borrower hereby agrees to pay to the European Agent for the applicable Class accounts of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any European Lenders in accordance with their respective Commitment Percentages, a commitment fee accrued with respect in Dollars (the “European Commitment Fee”) at the applicable Commitment Fee Rate per annum on the actual daily amount during each calendar quarter or portion thereof from the Closing Date to any the Maturity Date by which the Aggregate European Commitments exceed the Total European Exposure (excluding the outstanding principal amount of the Revolving Credit Commitments of a Defaulting Lender during the period prior European Swingline Loans).
(c) The Canadian Borrower hereby agrees to pay to the time such Lender became Canadian Agent for the accounts of the Canadian Lenders in accordance with their respective Commitment Percentages, a Defaulting Lender and unpaid commitment fee in Dollars (the “Canadian Revolving Loan Commitment Fee”) at such time the applicable Commitment Fee Rate per annum on the actual daily amount during each calendar quarter or portion thereof from the Closing Date to the Maturity Date by which the Aggregate Canadian Revolving Loan Commitments exceed the Total Canadian Revolver Exposure (excluding the outstanding principal amount of the Canadian Swingline Loans).
(d) The Australian Borrower hereby agrees to pay to the Administrative Agent for the accounts of the Australian Lenders in accordance with their respective Commitment Percentages, a commitment fee in Dollars (the “Australian Revolving Loan Commitment Fee”) at the applicable Commitment Fee Rate per annum on the actual daily amount during each calendar quarter or portion thereof from the Closing Date to the Maturity Date by which the Aggregate Australian Revolving Loan Commitments exceed the Total Australian Revolver Exposure (excluding the outstanding principal amount of the Australian Swingline Loans).
(e) The Commitment Fees shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any quarterly in arrears within three (3) days of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of each calendar quarter for the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears immediately preceding calendar quarter commencing on the last Business Day of each of March, June, September and December, commencing with the first such date during following the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) with a final payment on the earlier of (x) the Maturity Date for such Class of Revolving Credit or any earlier date on which the applicable Commitments and shall terminate.
(yf) the date of the termination of the Revolving Credit Commitments of such Class. The commitment fee shall be calculated quarterly foregoing Commitment Fees are subject to adjustment as provided in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect§6.17(a)(iii).
Appears in 1 contract
Sources: Senior Secured Syndicated Facility Agreement (Genesee & Wyoming Inc)
Commitment Fee. The Borrowers agree (a) Subject to paragraph (c) below UPC Distribution shall pay to the Administrative Facility Agent for distribution to each Facility D Lender pro rata to the account of each Revolving Credit Lender under each Class of Revolving Credit proportion that the relevant Lender’s Facility D1 Commitment, Facility D2 Commitment, Facility D3 Commitment, Facility D4 Commitment or Facility D5 Commitment bears to the Total Facility D1 Commitments, Total Facility D2 Commitments, Total Facility D3 Commitments, Total Facility D4 Commitments in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, Total Facility D5 Commitments respectively from time to time a commitment fee equal (subject to paragraph (c) below) computed at the product rate of the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class difference between (i) 5.50 per cent. per annum and the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (Aii) the Outstanding Amount Margin payable under Facility B on any undrawn, uncancelled amount of Revolving Credit Loans for such Class of Revolving Credit the Total Facility D1 Commitment, Total Facility D2 Commitments, Total Facility D3 Commitments, Total Facility D4 Commitments and Total Facility D5 Commitments.
(Bb) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect Subject to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; providedparagraph (c) below, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise if specified in the relevant Additional Facility Joinder Accession Agreement, Extension Amendment UPC Distribution shall pay to the Facility Agent for distribution to each Additional Facility Lender pro rata to the proportion that the relevant Lender’s Additional Facility Commitment bears to the Total Additional Facility Commitments from time to time a commitment fee (subject to paragraph (d) below) computed at the rate specified in the Additional Facility Accession Agreement on any undrawn uncancelled amount of Total Additional Facility Commitments such rate shall not exceed the rate applicable to the commitment fee in relation to Facility D or Refinancing Amendmentif Facility D has been cancelled, the commitment fee applicable to Facility D immediately prior to such cancellation.
(c) shall accrue at all times starting Commitment fee is calculated and accrues on a daily basis (i) in the case of the commitment fee under paragraph (a) above only on and from the first day Effective Date and is payable quarterly in arrear from the Effective Date and on the relevant Utilisation Date and (ii) in the case of the Revolving Credit Availability Period for such Class, until the earlier of commitment fee in paragraph (xb) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) above only on the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due relevant Additional Facility Accession Agreement and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) arrear from the date of the termination relevant Additional Facility Accession Agreement and on the relevant Utilisation Date. Accrued commitment fee is also payable to the Facility Agent for the relevant Lender(s) on the cancelled amount of its (their) Facility D1 Commitment, Facility D2 Commitment, Facility D3 Commitment, Facility D4 Commitment Facility D5 Commitment or Additional Facility Commitments, as the case may be, at the time the cancellation takes effect (but only in respect of the Revolving Credit Commitments period up to the date of such Class. The commitment cancellation).
(d) Commitment fee shall be calculated quarterly is payable in arrearseuros in respect of Facility D and in euros or US Dollars, and if there is as applicable, in respect of any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectAdditional Facility.
Appears in 1 contract
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under and each Class Lender with a Delayed Draw Tranche B Commitment, for the period (including any portion thereof when any of the Commitments are suspended by reason of Borrower’s inability to satisfy any condition of Article III) commencing on (i) in the case of each Initial Lender, from (and including) the Closing Date and (ii) in the case of each other Lender, from (and including) the effective date specified in the Assignment and Acceptance pursuant to which such other Lender became a Lender and continuing through (x) in the case of the Revolving Credit Lenders, the Revolving Credit Termination Date and (y) in the case of the Lenders with a Delayed Draw Tranche B Commitment, the date on which all Unused Delayed Draw Tranche B Commitments in accordance with its Pro Rata Share are terminated (or other applicable share provided for under this Agreementdeemed terminated), a commitment fee equal to the product Applicable Fee in effect from time to time on the average daily amount of the Applicable Rate with respect to unused each Lender’s Unused Revolving Credit Commitment or Unused Delayed Draw Tranche B Commitment, as applicable, payable in arrears. All commitment fees for such Class and payable pursuant to this Section 2.04(a) shall be calculated on the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments basis of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due year comprised of 360 days and payable by Borrower in arrears on the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any date of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee initial Borrowing hereunder and, thereafter, quarterly on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class each fiscal quarter of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one Borrower ending on or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on about the last Business Day day of each of March, June, September and DecemberDecember as set forth on Schedule 2.04(a) hereof and with respect to any Facility, commencing the date on which all unused Commitments with respect to such Facility, as applicable, are terminated (or deemed terminated). Any term or provision hereof to the first such date during contrary notwithstanding, for purposes of this clause (a), neither the first full fiscal quarter making of Swing Line Advances nor the purchase of participation interests therein pursuant to occur after the first day of Section 2.02(b) shall constitute usage under the Revolving Credit Availability Period Commitment for such Class purposes of Revolving Credit Commitments, and calculating commitment fees to be paid by Borrower under this clause (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effecta).
Appears in 1 contract
Sources: Credit Agreement (Tribune Co)
Commitment Fee. The Borrowers agree to Borrower shall pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementShare, a commitment fee equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Closing Date until the applicable Maturity Date for the Original Maturity Revolving Credit Availability Period for such Class, Facility and from the Restatement Date until the earlier of (x) applicable Maturity Date for the last day of the Extended Maturity Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of the applicable Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 1 contract
Sources: Credit Agreement (West Corp)
Commitment Fee. The Borrowers agree (a) Subject to paragraph (c) below UPC Broadband shall pay to the Administrative Facility Agent for distribution to each Facility D Lender pro rata to the account of each Revolving Credit Lender under each Class of Revolving Credit proportion that the relevant Lender's Facility D1 Commitment, Facility D2 Commitment, Facility D3 Commitment, Facility D4 Commitment or Facility D5 Commitment bears to the Total Facility D1 Commitments, Total Facility D2 Commitments, Total Facility D3 Commitments, Total Facility D4 Commitments in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, Total Facility D5 Commitments respectively from time to time a commitment fee equal (subject to paragraph (c) below) computed at the product rate of the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class difference between (i) 5.50 per cent. per annum and the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (Aii) the Outstanding Amount Margin payable under Facility B on any undrawn, uncancelled amount of Revolving Credit Loans for such Class of Revolving Credit the Total Facility D1 Commitment, Total Facility D2 Commitments, Total Facility D3 Commitments, Total Facility D4 Commitments and Total Facility D5 Commitments.
(Bb) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect Subject to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; providedparagraph (c) below, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise if specified in the relevant Additional Facility Joinder Accession Agreement, Extension Amendment UPC Broadband shall pay to the Facility Agent for distribution to each Additional Facility Lender pro rata to the proportion that the relevant Lender's Additional Facility Commitment bears to the Total Additional Facility Commitments from time to time a commitment fee (subject to paragraph (d) below) computed at the rate specified in the Additional Facility Accession Agreement on any undrawn uncancelled amount of Total Additional Facility Commitments such rate shall not exceed the rate applicable to the commitment fee in relation to Facility D or Refinancing Amendmentif Facility D has been cancelled, the commitment fee applicable to Facility D immediately prior to such cancellation.
(c) shall accrue at all times starting Commitment fee is calculated and accrues on a daily basis (i) in the case of the commitment fee under paragraph (a) above only on and from the first day Effective Date and is payable quarterly in arrear from the Effective Date and on the relevant Utilisation Date and (ii) in the case of the Revolving Credit Availability Period for such Class, until the earlier of commitment fee in paragraph (xb) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) above only on the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due relevant Additional Facility Accession Agreement and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) arrear from the date of the termination relevant Additional Facility Accession Agreement and on the relevant Utilisation Date. Accrued commitment fee is also payable to the Facility Agent for the relevant Lender(s) on the cancelled amount of its (their) Facility D1 Commitment, Facility D2 Commitment, Facility D3 Commitment, Facility D4 Commitment Facility D5 Commitment or Additional Facility Commitments, as the case may be, at the time the cancellation takes effect (but only in respect of the Revolving Credit Commitments period up to the date of such Class. The commitment cancellation).
(d) Commitment fee shall be calculated quarterly is payable in arrearseuros in respect of Facility D and in euros or US Dollars, and if there is as applicable, in respect of any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectAdditional Facility.
Appears in 1 contract
Sources: Amendment and Restatement Agreement (Unitedglobalcom Inc)
Commitment Fee. The Borrowers agree to Borrower shall pay to the Administrative Agent ---- -------------- for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, the Lenders a commitment fee fee, from the date hereof in the case of each Initial Lender and from the effective date specified in the Assignment and Acceptance pursuant to which it became a Lender in the case of each other Lender until the later of the Tranche A Termination Date and the Working Capital Termination Date, payable in arrears on the date of the initial Borrowing hereunder, thereafter quarterly on the last day of each quarter and on the later of the Tranche A Termination Date and the Working Capital Termination Date, at a rate per annum equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds Percentage on the sum of (A) the Outstanding Amount each Lender's average daily Unused Tranche A Term Commitment and average daily Unused Working Capital Commitment of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for Lender during such Class of Revolving Credit Commitmentsquarter; provided provided, however, that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such timetime and the Borrower shall pay to the Administrative Agent for the account of the Lenders a commitment fee, from the date hereof in the case of each Initial Lender and from the effective date specified in the Assignment and Acceptance pursuant to which it became a Lender in the case of each other Lender until the Tranche C Termination Date, payable in arrears on the date of the initial Borrowing hereunder, thereafter quarterly on the last day of each quarter and on the Tranche C Termination Date, at a rate per annum equal to the Applicable Percentage on the sum of each Lender's average daily Unused Tranche C Term Commitment; provided, further, and provided further that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 1 contract
Commitment Fee. The Borrowers agree With respect to each Class of Revolving Credit Commitments, the Borrower shall pay to the Administrative Agent (i) for any period prior to the date on which an Extension Amendment becomes effective, for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments then in effect in accordance with its Pro Rata Share or other applicable share provided for under this AgreementShare, a commitment fee equal to the product clause (ii) of the Applicable Rate with respect to unused commitment fees then in effect for each such Class of Revolving Credit Commitment fees for such Class and Commitments times the actual daily amount by which the aggregate Revolving Credit Commitment Commitments for the applicable each such Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans (for the avoidance of doubt, excluding any Swing Line Loans) under each such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for each such Class and (ii) for any period after the date on which an Extension Amendment becomes effective (and for so long as the Non-Extended Revolving Credit Commitments and Extended Revolving Credit Commitments resulting from such Extension Amendment (or any Revolving Credit Exposure thereunder) remain outstanding), for the account of each Non-Extending Revolving Credit Lender and each Extending Revolving Credit Lender under each Class of Non-Extended Revolving Credit Commitments and Extended Revolving Credit Commitments resulting from such Extension Amendment in accordance with its Other Allocable Share of such Non-Extended Revolving Credit Commitments and such Extended Revolving Credit Commitments, respectively, a commitment fee equal to the Applicable Rate with respect to commitment fees in respect of such Non-Extended Revolving Credit Commitments or the Extended Revolving Credit Commitments, as the case may be, times the Allocable Revolving Share of the Non-Extending Revolving Credit Lenders or the Extending Revolving Credit Lenders, as the case may be, of the actual daily amount by which the aggregate Revolving Credit Commitments for each such Class exceed the sum of (A) the Outstanding Amount of Revolving Credit CommitmentsLoans (for the avoidance of doubt, excluding any Swing Line Loans) under each such Class and (B) the Outstanding Amount of L/C Obligations under each such Class; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Revolving Credit Commitments under any Facility of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of fees for the Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of date hereof (or from the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of date on which Revolving Credit Commitments and (yfor the applicable Facility come into effect in accordance with the terms hereof) until the date of the termination of the Original Revolving Credit Commitments of 102 Maturity Date or the applicable Maturity Date for such ClassFacility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during last Business Day of June, 2021, and on the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period applicable Maturity Date for such Class of Revolving Credit Commitments, Facility (and (ii) on the earlier of (x) the Maturity Date for such Class of any Non-Extended Revolving Credit Commitments (with respect to commitment fees accrued for the accounts of Non-Extending Revolving Credit Lenders) and (y) the date of the termination of the Maturity Date for Extended Revolving Credit Commitments (with respect to commitment fees accrued for the accounts of Extending Revolving Credit Lenders) for any such ClassFacility in respect of which an Extension Amendment has been effected). The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 1 contract
Sources: Credit Agreement (Solo Brands, Inc.)
Commitment Fee. The Borrowers agree to pay pay, on a joint and several basis, to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementShare, a commitment fee equal to the product of the Applicable Rate with respect to for unused Revolving Credit Commitment commitment fees for such Class and multiplied by the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided provided, that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; and provided, further, that no commitment Defaulting Lender shall be entitled to receive any fee shall accrue on payable under this Section 2.09(a) for any of the Revolving Credit Commitments of period during which such Lender is a Defaulting Lender so long as (and the Borrowers shall not be required to pay any such Lender shall fee that otherwise would have been required to be a paid to that Defaulting Lender). The commitment fee on each Class of the Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Closing Date until the Maturity Date for the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility, including at any time during which one or more of the conditions in Article IV 4 is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. For the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be counted towards or considered usage of the Aggregate Commitments for purposes of determining the commitment fee.
Appears in 1 contract
Sources: Credit Agreement (Communications Sales & Leasing, Inc.)
Commitment Fee. The Borrowers agree to Borrower shall pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementShare, a commitment fee equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) fees shall accrue at all times starting from the first day of Amendment Effective Date until the Maturity Date for the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsAmendment Effective Date, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 1 contract
Commitment Fee. The Borrowers agree to pay to If the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for Tranche A Advance has been made under this Agreement, the Borrower shall pay to the Facility Agent for the pro rata account of the Lenders a commitment fee equal to in respect of each Calculation Period calculated on the product daily available but undrawn balance of the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class Facility on the basis of the actual number of days elapsed and a 360 day year at the rate of:
(a) if the average amount of the Tranche B Loan and all outstanding Tranche C Advances during any Calculation Period exceeds fifty percent (50%) of the aggregate of the Tranche B Commitments and the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/Tranche C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during all the period prior to the time such Lender became a Defaulting Lender and unpaid Lenders as at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable this Agreement (as reduced by (i) quarterly in arrears on any principal amount repaid or prepaid by the last Business Day of each of MarchBorrower under the Tranche B Facility from time to time, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, and (ii) on any principal amount repaid or prepaid by the earlier Borrower under the Tranche C Facility which is not available for reborrowing following such repayment or prepayment and (iii) any amount of the Tranche B Facility and/or the Tranche C Facility cancelled from time to time), one percent (x1%) per annum; or
(b) if the Maturity Date for such Class average amount of Revolving Credit the Tranche B Loan and all outstanding Tranche C Advances during any Calculation Period is equal to or less than fifty percent (50%) of the aggregate of the Tranche B Commitments and (y) the Tranche C Commitments of all the Lenders as at the date of this Agreement (as reduced by (i) any principal amount repaid or prepaid by the termination Borrower under the Tranche B Facility from time to time, (ii) any principal amount repaid or prepaid by the Borrower under the Tranche C Facility which is not available for reborrowing following such repayment or prepayment and (iii) any amount of the Revolving Credit Commitments of such ClassTranche B Facility and/or the Tranche C Facility cancelled from time to time), one point five percent (1.5%) per annum. The commitment fee shall accrue from day to day and be calculated quarterly paid in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for arrears on each period during such quarter that such Applicable Rate was in effectCommitment Fee Payment Date.
Appears in 1 contract
Commitment Fee. The Borrowers agree Commencing on the Closing Date, subject to Section 5.14, the Borrower shall pay to the Administrative Agent Agent, for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this Agreementthe Lenders, a non-refundable commitment fee at a rate per annum equal to the product applicable rate based upon the table set forth below (the “Commitment Fee Rate”) on the aggregate average daily unused portion of the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and (other than the actual daily Defaulting Lenders’, if any); provided, that the amount by which of outstanding Swingline Loans shall not be considered usage of the aggregate Revolving Credit Commitment for the applicable Class purpose of Revolving Credit Commitments exceeds the sum of calculating such commitment fee (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that other than with respect to calculating any commitment fee accrued with respect due to any the Swingline Lender in which case, the full Swingline Commitment shall be deemed usage of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting LenderCommitment). The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each calendar quarter during the term of March, June, September and December, this Agreement commencing with on the first such date during following the Closing Date, and on the Revolving Credit Maturity Date. Such commitment fee shall be distributed by the Administrative Agent to the Lenders (other than any Defaulting Lender) pro rata in accordance with the Lenders’ respective Revolving Credit Commitment Percentages. The Commitment Fee Rate shall be based upon the table set forth below and shall be determined and adjusted quarterly on each Calculation Date; provided, however, that (i) the initial Commitment Fee Rate shall be based on Pricing Level III (as shown below) and shall remain at Pricing Level III until the first Calculation Date following the first full fiscal quarter to occur Fiscal Quarter occurring after the first Closing Date and thereafter the Pricing Level shall be determined by reference to the Adjusted Debt to EBITDAR Ratio as of the last day of the Revolving Credit Availability Period for such Class most recently ended Fiscal Quarter of Revolving Credit Commitmentsthe Borrower preceding the applicable Calculation Date, and (ii) if the Borrower fails to provide the Officer’s Compliance Certificate as required by Section 8.2 for the most recently ended Fiscal Quarter of the Borrower preceding the applicable Calculation Date, the Commitment Fee Rate from such Calculation Date shall be based on Pricing Level I (as shown below) until such time as an appropriate Officer’s Compliance Certificate is provided, at which time the earlier Pricing Level shall be determined by reference to the Adjusted Debt to EBITDAR Ratio as of (xthe last day of the most recently ended Fiscal Quarter of the Borrower preceding such Calculation Date. Subject to Sections 5.3(a)(i) the Maturity Date for such Class of Revolving Credit Commitments and (yii) in the date of preceding sentence, the termination of the Revolving Credit Commitments of such Class. The commitment fee Commitment Fee Rate shall be calculated quarterly in arrearseffective from one Calculation Date until the next Calculation Date. I Greater than or equal to 5.00 to 1.00 0.750 % II Greater than or equal to 4.50 to 1.00, and if there is any change in the Applicable Rate during any quarterbut less than 5.00 to 1.00 0.750 % III Greater than or equal to 4.00 to 1.0, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.but less than 4.50 to 1.00 0.625 % IV Greater than or equal to 3.50 to 1.00 but less than 4.00 to 1.00 0.500 % V Less than 3.50 to 1.00 0.375 %
Appears in 1 contract
Sources: Credit Agreement (O Charleys Inc)
Commitment Fee. The Borrowers agree to Borrower shall pay to the Administrative Agent for the account of each (i) the Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, Lenders a commitment fee equal (the “Revolving Facility Commitment Fee”) for the period commencing on the Closing Date to the product of the Applicable Rate Revolving Facility Termination Date with respect to unused the applicable Revolving Credit Commitment fees for such Class and Commitments or the earlier date of termination of the applicable Revolving Commitment, computed (on the basis of the actual number of days elapsed over a year of 360 days) at the Commitment Fee Rate applicable to the Revolving Facility on the average daily amount by which Unused Total Revolving Commitment and (ii) the aggregate LC Facility Lender a commitment fee (the “LC Facility Commitment Fee” and, together with the Revolving Credit Facility Commitment Fee, the “Commitment Fees”) for the applicable Class of Revolving Credit Commitments exceeds period commencing on the sum of (A) Closing Date to the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued LC Facility Termination Date with respect to any the LC Facility Commitment or the earlier date of termination of the Revolving Credit Commitments LC Facility Commitment, computed (on the basis of the actual number of days elapsed over a Defaulting Lender during year of 360 days) at the period prior Commitment Fee Rate applicable to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by LC Facility on the Borrowers so long as such Lender shall be a Defaulting Lender except average daily Unused LC Facility Commitment. Such Commitment Fees, to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; providedthen accrued, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears (a) on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of (b) on the Revolving Credit Availability Period for such Class of Facility Termination Date with respect to the applicable Revolving Credit CommitmentsCommitments or on the LC Facility Termination Date with respect to the LC Facility Commitment, and (iic) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date as provided in Section 2.11 hereof, upon any reduction or termination in whole or in part of the termination of Total Revolving Commitment or the Revolving Credit Commitments of such Class. The commitment fee shall be calculated quarterly in arrearsLC Facility Commitment, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectas applicable.
Appears in 1 contract
Sources: Credit and Guaranty Agreement (Republic Airways Holdings Inc)
Commitment Fee. (a) The Borrowers agree to Borrower shall pay to the Administrative Agent Guarantor Banks on each Commitment Fee Payment Date a commitment fee (which shall be payable in Singapore Dollars) calculated as follows:-
(i) in relation to the Available EDB Amount, at the rate of 0.125 per cent. per annum on the Available EDB Amount from day to day during the Utilisation Period ending on that Commitment Fee Payment Date; and
(ii) in relation to the Unavailable EDB Amount, at the rate of 0.0625 per cent. per annum on the Unavailable EDB Amount from day to day during the Utilisation Period ending on that Commitment Fee Payment Date.
(b) If, in relation to any Utilisation Period, the Available EDB Amount for such Utilisation Period exceeds the aggregate principal amount of the advances made by EDB to the Borrower under the EDB Loan Agreement during such Utilisation Period, the Available EDB Amount for the account next succeeding Utilisation Period will be increased by an amount equal to such excess.
(c) The Borrower may, by giving not less than 30 days' notice to the Agent, increase the Available EDB Amount during any Utilisation Period and on the date specified in the notice, the Available EDB Amount for such Utilisation Period shall be increased by the amount specified in the notice. For the avoidance of each Revolving Credit Lender under each Class doubt, the commitment fee payable on the Commitment Fee Payment Date in relation to that Utilisation Period shall be 0.125 per cent. per annum on the increased Available EDB Amount from day to day beginning with the date specified in the notice for such Utilisation Period and ending on that Commitment Fee Payment Date.
(d) If, in relation to any Utilisation Period, the Borrower has requested for an increase of Revolving Credit Commitments the Available EDB Amount in accordance with its Pro Rata Share or other applicable share provided sub-paragraph (c) above, the Available EDB Amount for the next succeeding Utilisation Period shall be reduced by an amount equal to such increase. For the avoidance of doubt, if the Available EDB Amount for any Utilisation Period exceeds the aggregate principal amount of the advances made by EDB to the Borrower under this Agreementthe EDB Loan Agreement during that Utilisation Period, the Available EDB Amount for the next succeeding Utilisation Period will be increased by an amount equal to such excess in accordance with the provisions of sub-paragraph (b) above.
(a) The Borrower shall pay to the Lending Banks on each Commitment Fee Payment Date a commitment fee (which shall be payable in US Dollars) calculated as follows:-
(i) in relation to the Available Term Amount, at the rate of 0.125 per cent. per annum on the Available Term Amount from day to day during the Utilisation Period ending on that Commitment Fee Payment Date; and
(ii) in relation to the Unavailable Term Amount, at the rate of 0.0625 per cent. per annum on the Unavailable Term Amount from day to day during the Utilisation Period ending on that Commitment Fee Payment Date.
(b) If, in relation to any Utilisation Period, the Available Term Amount for such Utilisation Period exceeds the Advances made by the Lending Banks to the Borrower during such Utilisation Period, the Available Term Amount for the next succeeding Utilisation Period will be increased by an amount equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and the actual daily amount excess.
(c) The Borrower may, by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior giving not less than 30 days' notice to the time such Lender became a Defaulting Lender Agent, increase the Available Term Amount during any Utilisation Period and unpaid at such time shall not be payable by on the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise date specified in the relevant Additional Facility Joinder Agreementnotice, Extension Amendment or Refinancing Amendmentthe Available Term Amount for such Utilisation Period shall be increased by the amount specified in the notice. For the avoidance of doubt, the commitment fee payable on the Commitment Fee Payment Date in relation to that Utilisation Period shall be 0.125 per cent. per annum on the increased Available Term Amount from day to day beginning with the date specified in the notice for such Utilisation Period and ending on that Commitment Fee Payment Date.
(d) shall accrue at all times starting from If, in relation to any Utilisation Period, the first day Borrower has requested for an increase of the Revolving Credit Availability Available Term Amount in accordance with sub-paragraph (c) above, the Available Term Amount for the next succeeding Utilisation Period shall be reduced by an amount equal to such increase. For the avoidance of doubt, if the Available Term Amount for such Class, until any Utilisation Period exeeds the earlier of (x) the last day aggregate principal amount of the Revolving Credit Availability Advances made by the Lending Banks to the Borrower under this Agreement during that Utilisation Period, the Available Term Amount for the next succeeding Utilisation Period for will be increased by an amount equal to such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions excess in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing accordance with the first such date during the first full fiscal quarter to occur after the first day provisions of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, and sub-paragraph (iib) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectabove.
Appears in 1 contract
Sources: Loan Agreement (Chartered Semiconductor Manufacturing LTD)
Commitment Fee. The Borrowers agree to Borrower shall pay to the Revolving Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this Agreementof the Revolving Credit Commitments, a commitment fee equal to the product of the Applicable Commitment Fee Rate with respect to unused commitment fees in respect of such Revolving Credit Commitment fees for such Class and Commitments, multiplied by the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds exceed the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsLoans; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, provided further that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) fees shall accrue at all times starting from the first day of Sixth Amendment and Restatement Effective Date until the Maturity Date for the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitments, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, Sixth Amendment and (ii) Restatement Effective Date and on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitments. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 1 contract
Sources: Credit Agreement (Travelport LTD)
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of the applicable Revolving Credit Commitments Facility in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee in Dollars equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and Loan commitment fees, times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments Facility exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments Facility and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsFacility; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender Lender, except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; and provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Closing Date until the Maturity Date for the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitments, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of MarchFebruary, JuneMay, September August and DecemberNovember, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, Closing Date and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitments. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 1 contract
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments Facility in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment Loan commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment Commitments of all Revolving Credit Lenders for the applicable Class of Revolving Credit Commitments Facility exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans (excluding, for the avoidance of doubt, Swing Line Loans) for such Class of Revolving Credit Commitments Facility and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsFacility; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; and provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Third Amendment and Restatement Effective Date until the Maturity Date for the Series A Revolving Credit Availability Period for such ClassFacility, until the earlier of (x) the last day of the Series B Revolving Credit Availability Period for such Class of Facility, the Series C Revolving Credit Commitments and (y) Facility or the date of the termination of the Series D Revolving Credit Commitments of such ClassFacility , as applicable, including at any time during which one or more of the conditions in Article IV is are not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsThird Amendment and Restatement Effective Date, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 1 contract
Commitment Fee. The Borrowers agree to Borrower shall pay to the Administrative Agent Agent, for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementRevolving Commitment Percentage and its DDTL Commitment Percentage (as applicable), a commitment fee (the “Commitment Fee”) in an amount equal to the sum of:
(i) the product of of: (A) the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and Margin; multiplied by (B) the actual daily amount by which the aggregate Aggregate Revolving Commitment Amount exceeds the Aggregate Revolving Credit Commitment for Exposure, subject to adjustment(s) as provided in Section 2.16; plus
(ii) the applicable Class of Revolving Credit Commitments exceeds the sum of product of: (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and Applicable Margin; multiplied by (B) the Outstanding Aggregate DDTL Commitment Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lenderthen in effect. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) Commitment Fee shall accrue at all times starting from during the first day of the Revolving Credit Revolver Availability Period for such Class, until and at all times during the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassDDTL Commitment Period, including at any time during which one or more of the conditions in Article IV V is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first (1st) such date during the first full fiscal quarter to occur after the first day of Effective Date, on the Revolving Credit Availability Period for Commitment Termination Date and on the DDTL Commitment Termination Date; provided, that, (I) no Commitment Fee shall accrue on any Revolving Commitment or any DDTL Commitment of any Defaulting Lender so long as such Class of Revolving Credit CommitmentsLender shall be a Defaulting Lender, and (iiII) on any Commitment Fee accrued with respect to any Revolving Commitment or any DDTL Commitment of a Defaulting Lender during the earlier of (x) period prior to the Maturity Date for time that such Class of Revolving Credit Commitments and (y) Lender became a Defaulting Lender that remains unpaid at such time shall not be payable by the date of the termination of the Revolving Credit Commitments of Borrower so long as such ClassLender shall be a Defaulting Lender. The commitment fee Commitment Fee shall be calculated quarterly in arrears, and and, if there is any change in the Applicable Rate Margin during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate Margin separately for each period during such quarter that such Applicable Rate Margin was in effect. For purposes of calculation of the Commitment Fee, Swingline Loans shall not be counted toward, or be considered as usage of, the Aggregate Revolving Commitments.
Appears in 1 contract
Sources: Credit Agreement (Heritage Insurance Holdings, Inc.)
Commitment Fee. The Borrowers agree to Company shall pay to the Administrative Agent (x) for the account of each Multicurrency Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementApplicable Revolving Credit Percentage, a commitment fee (the ““Multicurrency Commitment Fee””) in Dollars calculated on a daily basis equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment fees for as of such Class and day times the actual daily amount by which the aggregate Aggregate Multicurrency Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds exceed the sum as of such day of (Ai) the Outstanding Amount of Multicurrency Revolving Credit Loans for such Class of Revolving Credit Commitments and (Bii) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any Multicurrency Letters of Credit, subject to adjustment as provided in Section 2.18 and (y) for the account of each USD Revolving Credit Commitments of Lender in accordance with its Applicable Revolving Credit Percentage, a Defaulting Lender during commitment fee (the period prior ““USD Commitment Fee””, and together with the Multicurrency Commitment Fee, the ““Commitment Fee””) in Dollars calculated on a daily basis equal to the time Applicable Rate as of such Lender became a Defaulting Lender day times the actual daily amount by which the Aggregate USD Revolving Commitments exceed the sum as of such day of (i) the Outstanding Amount of USD Revolving Credit Loans and unpaid at such time (ii) the Outstanding Amount of L/C Obligations with respect to USD Letters of Credit, subject to adjustment as provided in Section 2.18. For the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any counted towards or considered usage of the Aggregate Revolving Credit Commitments for purposes of a Defaulting Lender so long as such Lender shall be a Defaulting Lenderdetermining the Commitment Fee. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) Commitment Fee shall accrue at all times starting from during the first day of the Revolving Credit Availability Period for such Class, until with respect to the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Classapplicable Facility, including at any time during which one or more of the conditions in 129 Article IV 4 is not met, and shall be due and payable (i) quarterly in arrears on the last fifth Business Day after the end of each of March, June, September and DecemberDecemberfiscal quarter, commencing with the first such date during the first full fiscal quarter to occur after the first RestatementFourth Amendment Effective Date, and on the last day of the Revolving Credit applicable Availability Period for such Class of Revolving Credit Commitments, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassPeriod. The commitment fee Commitment Fee shall be calculated quarterly in arrearsarrears on the last day of such quarter, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 1 contract
Sources: Refinancing Amendment (Hologic Inc)
Commitment Fee. The Borrowers agree to KBR shall pay to the Administrative Agent for the account of (i) each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementApplicable Revolving Credit Percentage, a commitment fee in Dollars equal to the product of the Applicable Rate with respect to unused Revolving Credit the Commitment fees for such Class and Fee times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments Facility exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of under the Revolving Credit Commitments; Facility, subject to adjustment as provided that any commitment fee accrued in Section 2.17 (for the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be counted towards or considered usage of the Aggregate Revolving Credit Commitments for purposes of determining the “Commitment Fee”) and (ii) each Performance Letter of Credit Lender in accordance with its Applicable Performance Letter of Credit Percentage, a Commitment Fee in Dollars equal to the Applicable Rate with respect to any the Commitment Fee times the actual daily amount by which the Performance Letter of Credit Facility exceeds the sum of the Revolving Outstanding Amount of L/C Obligations under the Performance Letter of Credit Commitments of a Defaulting Lender during Facility, subject to adjustment as provided in Section 2.17, (collectively and as the period prior to context requires, the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender“Commitment Fee”). The commitment fee on Commitment Fee with respect to each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional applicable Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from during the first day of the Revolving Credit relevant Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassPeriod, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first Closing Date, and, in the case of the Commitment Fee with respect to (A) the Revolving Credit Facility, on the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments Facility or (B) the Performance Letter of such ClassCredit Facility, on the last day of the Availability Period for the Performance Letter of Credit Facility. The commitment fee Commitment Fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 1 contract
Sources: Credit Agreement (Kbr, Inc.)
Commitment Fee. The Borrowers agree to Borrower shall pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementRevolving Share, a commitment fee (the “Commitment Fee”) equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and Margin times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Aggregate Revolving Credit Commitments exceeds exceed the sum of (Ai) the aggregate Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and Loans, (Bii) the aggregate Outstanding Amount of L/C Obligations and (iii) the aggregate Outstanding Amount of Foreign Currency Loans (regardless of whether the Foreign Currency Fronting Lender has requested the purchase of participating interests by the Revolving Lenders in any such Foreign Currency Loans pursuant to Section 2.15 (Currency Converstion and Contingent Funding Agreement)) (such amount to be determined for each Interest Period). For purposes of calculating the Commitment Fee, the Dollar Equivalent of the aggregate principal amount of any Foreign Currency Loan outstanding for any Interest Period shall be determined by multiplying (x) the amount (expressed in the applicable Denomination Currency) of such Foreign Currency Loan Borrowed or Continued for such Class Interest Period by (y) the actual exchange rate at which the Foreign Currency Fronting Lender could obtain Dollars from the conversion of Revolving Credit Commitments; provided such Denomination Currency on the date that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period is two Business Days prior to the time Borrowing or Continuation of such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting LenderForeign Currency Loan. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) Commitment Fee shall accrue at all times starting from the first day of Closing Date until the Revolving Credit Availability Period Maturity Date and shall be calculated as of each Quarterly Fee Calculation Date, commencing with the first such date to occur after the Closing Date, and shall be due and payable on the respective Quarterly Fee Payment Date for each such ClassQuarterly Fee Calculation Date, until the earlier of (x) the last day of and on the Revolving Credit Availability Period Maturity Date. The Commitment Fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Margin during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Margin separately for each period during such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of quarter that such ClassApplicable Margin was in effect. The Commitment Fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV (Conditions Precedent to Credit Extensions) is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 1 contract
Sources: Credit Agreement (Jarden Corp)
Commitment Fee. The Borrowers agree to Commencing on the Closing Date, the Borrower shall pay to the Administrative Agent Agent, for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this Agreementthe Lenders, a non-refundable commitment fee at a rate per annum equal to the product applicable rate based upon the table set forth below (the "Commitment Fee Rate") on the average daily unused portion of the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and Commitment; provided that the actual daily amount by which of outstanding Swingline Loans shall not be considered usage of the aggregate Revolving Credit Commitment for the applicable Class purpose of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that calculating such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lenderfee. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date calendar quarter during the first full fiscal quarter to occur after the first day term of this Agreement commencing March 31, 2003, and on the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassDate. The Such commitment fee shall be calculated distributed by the Administrative Agent to the Lenders pro rata in accordance with the Lenders' respective Revolving Credit Commitment Percentages. The Commitment Fee Rate shall be determined and adjusted quarterly in arrearson each Calculation Date; provided, however, that (a) the initial Commitment Fee Rate shall be based on Pricing Level II (as shown below) and shall remain at Pricing Level II until the first Calculation Date occurring after the Closing Date and thereafter the Pricing Level shall be determined by reference to the Leverage Ratio as of the last day of the most recently ended fiscal quarter of the Borrower preceding the applicable Calculation Date, and (b) if there the Borrower fails to provide the Officer's Compliance Certificate as required by Section 8.2 for the most recently ended fiscal quarter of the Borrower preceding the applicable Calculation Date, the Commitment Fee Rate from such Calculation Date shall be based on Pricing Level I (as shown below) until such time as an appropriate Officer's Compliance Certificate is any change provided, at which time the Pricing Level shall be determined by reference to the Leverage Ratio as of the last day of the most recently ended fiscal quarter of the Borrower preceding such Calculation Date. Except as provided in the Applicable Rate during any quarterpreceding sentence, the actual daily amount Commitment Fee Rate shall be computed and multiplied by effective from one Calculation Date until the Applicable next Calculation Date. --------------------- ---------------------------------------------------------- Pricing Level Leverage Ratio Commitment Fee Rate separately for each period during such quarter that such Applicable Rate was in effect.===================== ========================================================== I Greater than or equal to 1.75 to 1.00 0.500% --------------------- ---------------------------------------------------------- --------------------- ---------------------------------------------------------- II Greater than or equal to 1.00 to 1.00 0.375% but less than 1.75 to 1.00 --------------------- ---------------------------------------------------------- --------------------- ---------------------------------------------------------- III Less than 1.00 to 1.00 0.375% --------------------- ----------------------------------------------------------
Appears in 1 contract
Commitment Fee. The Borrowers agree to Borrower shall pay to the Administrative Agent (i) for any period prior to the Second Amendment Effective Date, for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementShare, a commitment fee equal to the product of the Applicable Rate (as in effect immediately prior to the Second Amendment Effective Date) with respect to unused Revolving Credit Commitment commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds exceed the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations and (ii) for any period commencing on and after the Second Amendment Effective Date, for the account of each Non-Extending Revolving Credit Lender and each Extending Revolving Credit Lender in accordance with its Other Allocable Share of the Non-Extended Revolving Credit Commitments and the Extended Revolving Credit Commitments, respectively, a NEWYORK 7904486 (2K) commitment fee equal to the Applicable Rate with respect to commitment fees in respect of such Class Non-Extended Revolving Credit Commitments or the Extended Revolving Credit Commitments, as the case may be, times the Allocable Revolving Share of the Non-Extending Revolving Credit Lenders or the Extending Revolving Credit Lenders, as the case may be, of the actual daily amount by which the aggregate Revolving Credit Commitments exceed the sum of (A) Outstanding Amount of Revolving Credit CommitmentsLoans and (B) the Outstanding Amount of L/C Obligations; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of date hereof until the Maturity Date for the Extended Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitments, including at any time during which one or more of the conditions in Article IV 4 is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of the Non-Extended Revolving Credit Commitments and (y) with respect to commitment fees accrued for the date accounts of the termination of the Non-Extending Revolving Credit Commitments of such ClassLenders) and the Maturity Date for the Extended Revolving Credit Commitments. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 1 contract
Commitment Fee. The Borrowers agree to Company shall pay to the Administrative Agent Agent, for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementApplicable Percentage, a commitment fee (the “Commitment Fee”) at a rate per annum equal to the product of (i) the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and times (ii) the actual daily amount by which the aggregate Aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds exceed the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and plus (B) the Outstanding Amount of L/C Obligations Obligations, subject to adjustment as provided in Section 2.15. For the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be counted towards or considered usage of the Aggregate Revolving Commitments for purposes of determining the Commitment Fee. The Commitment Fee shall accrue at all times during the period from and including the Closing Date to the earliest of (x) the Maturity Date, (y) the date of termination of the Aggregate Revolving Commitments pursuant to Section 2.06 and (z) the date of termination of the commitment of each Lender to make Loans and of the obligation of the L/C Issuers to make L/C Credit Extensions pursuant to Section 9.02, including at any time during which one or more of the conditions in Article V is not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such Class date to occur after the Closing Date, and on the Maturity Date; provided, that, (A) no Commitment Fee shall accrue on the Revolving Commitment of Revolving Credit Commitments; provided that a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (B) any commitment fee Commitment Fee accrued with respect to any of the Revolving Credit Commitments Commitment of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender Company so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class. The commitment fee Commitment Fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 1 contract
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments Facility in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment Loan commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment Commitments of all Revolving Credit Lenders for the applicable Class of Revolving Credit Commitments Facility exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans (excluding, for the avoidance of doubt, Swing Line Loans) for such Class of Revolving Credit Commitments Facility and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsFacility; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; and provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Original Closing Date until the Maturity Date for the Series A Revolving Credit Availability Period for such ClassFacility, until the earlier of (x) the last day of the Series B Revolving Credit Availability Period for such Class of Facility or the Series C Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility, as applicable, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsOriginal Closing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 1 contract
Commitment Fee. (a) The Borrowers Domestic Borrowers, jointly and severally, hereby agree to pay to the Administrative Agent for the account accounts of each Revolving Credit Lender under each Class of Revolving Credit Commitments the Domestic Lenders in accordance with its Pro Rata Share or other applicable share provided for under this Agreementtheir respective Commitment Percentages, a commitment fee equal to in Dollars (the product of “Domestic Revolving Loan Commitment Fee”) at the Applicable applicable Commitment Fee Rate with respect to unused Revolving Credit Commitment fees for such Class and per annum on the actual daily amount during each calendar quarter or portion thereof from the Restatement Effective Date (or, in the case of Domestic Revolving Loan Commitments exchanged pursuant to the Amendment No. 1, the Restatement Effective Date (as defined in the Original Credit Agreement)) to the Maturity Date by which the aggregate Aggregate Domestic Revolving Credit Commitment Loan Commitments exceed the Total Domestic Revolver Exposure (excluding the outstanding principal amount of the Domestic Swingline Loans).
(b) The European Borrowers hereby agrees to pay to the European Agent for the applicable Class accounts of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any European Lenders in accordance with their respective Commitment Percentages, a commitment fee accrued with respect in Dollars (the “European Commitment Fee”) at the applicable Commitment Fee Rate per annum on the actual daily amount during each calendar quarter or portion thereof from the Restatement Effective Date (or, in the case of European Revolving Loan Commitments exchanged pursuant to any the Amendment No. 1, the Restatement Effective Date (as defined in the Original Credit Agreement)) to the Maturity Date by which the Aggregate European Commitments exceed the Total European Exposure (excluding the outstanding principal amount of the Revolving Credit Commitments of a Defaulting Lender during the period prior European Swingline Loans).
(c) The Canadian Borrower hereby agrees to pay to the time such Lender became Canadian Agent for the accounts of the Canadian Lenders in accordance with their respective Commitment Percentages, a Defaulting Lender and unpaid commitment fee in Dollars (the “Canadian Revolving Loan Commitment Fee”) at such time the applicable Commitment Fee Rate per annum on the actual daily amount during each calendar quarter or portion thereof from the Restatement Effective Date (or, in the case of Canadian Revolving Loan Commitments exchanged pursuant to the Amendment No. 1, the Restatement Effective Date (as defined in the Original Credit Agreement)) to the Maturity Date by which the Aggregate Canadian Revolving Loan Commitments exceed the Total Canadian Revolver Exposure (excluding the outstanding principal amount of the Canadian Swingline Loans).
(d) The Australian Borrower hereby agrees to pay to the Administrative Agent for the accounts of the Australian Lenders in accordance with their respective Commitment Percentages, a commitment fee in Dollars (the “Australian Revolving Loan Commitment Fee”) at the applicable Commitment Fee Rate per annum on the actual daily amount during each calendar quarter or portion thereof from the Restatement Effective Date (or, in the case of Australian Revolving Loan Commitments exchanged pursuant to the Amendment No. 1, the Restatement Effective Date (as defined in the Original Credit Agreement)) to the Maturity Date by which the Aggregate Australian Revolving Loan Commitments exceed the Total Australian Revolver Exposure (excluding the outstanding principal amount of the Australian Swingline Loans).
(e) The UK Borrower hereby agrees to pay to the UK Agent for the accounts of the UK Lenders in accordance with their respective Commitment Percentages, a commitment fee in Dollars (the “UK Revolving Loan Commitment Fee”) at the applicable Commitment Fee Rate per annum on the actual daily amount during each calendar quarter or portion thereof from the Restatement Effective Date (or, in the case of UK Revolving Loan Commitments exchanged pursuant to the Amendment No. 1, the Restatement Effective Date (as defined in the Original Credit Agreement)) to the Maturity Date by which the Aggregate UK Revolving Loan Commitments exceed the Total UK Revolver Exposure (excluding the outstanding principal amount of the UK Swingline Loans).
(f) The Commitment Fees shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any quarterly in arrears within three (3) days of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of each calendar quarter for the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears immediately preceding calendar quarter commencing on the last Business Day of each of March, June, September and December, commencing with the first such date during following the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsRestatement Effective Date, and (ii) with a final payment on the earlier of (x) the Maturity Date for such Class of Revolving Credit or any earlier date on which the applicable Commitments and shall terminate.
(yg) the date of the termination of the Revolving Credit Commitments of such Class. The commitment fee shall be calculated quarterly foregoing Commitment Fees are subject to adjustment as provided in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect§6.17(a)(iii).
Appears in 1 contract
Sources: Senior Secured Syndicated Facility Agreement (Genesee & Wyoming Inc)
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of the Revolving Credit Commitments Facility in accordance with its Pro Rata Share or other applicable share provided for under this AgreementApplicable Percentage, a commitment fee equal to the product of the Applicable applicable Commitment Fee Rate with respect to unused Revolving Credit Commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds exceed the sum of (Aa) the Outstanding Amount of Revolving Credit Loans (for such Class the avoidance of Revolving Credit Commitments doubt, excluding any Swing Line Loans) and (Bb) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender under such Revolving Facility during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Commitments under any Revolving Credit Commitments Facility of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) Commitment shall accrue at all times starting from the first day Closing Date (or date of initial effectiveness, as applicable) (and for the avoidance of doubt, the commitment fee on the Revolving Credit Availability Period for such Class, Commitment under the Closing Date Revolving Facility shall accrue from the Closing Date) until the earlier of (x) Maturity Date for the last day of the applicable Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassCommitment, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsMarch 31, 2025, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Commitment Fee Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Commitment Fee Rate separately for each period during such quarter that such Applicable Commitment Fee Rate was in effect.
Appears in 1 contract
Commitment Fee. The Borrowers agree to Borrower shall pay to the Administrative Agent a commitment fee (a “Commitment Fee”) (i) for the account of each Tranche A Revolving Credit Lender under each Class of Lender, ratably in proportion to their Tranche A Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this AgreementCommitments, a commitment fee equal to the product Applicable Fee per annum for Tranche A Revolving Commitments on the average daily unused amount of each Tranche A Revolving Commitment of such Lender during the Applicable Rate with respect period from and including the Closing Date to unused but excluding the date on which such Tranche A Revolving Credit Commitment fees for such Class terminates and the actual daily amount by which the aggregate Revolving Credit Commitment (ii) for the applicable Class account of each Tranche B Revolving Credit Commitments exceeds the sum of Lender, ratably in proportion to their Tranche B Revolving Commitments, equal to (Ax) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to and excluding the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by Amendment No. 1 to ARCA Effective Date, the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Applicable Fee per annum for Tranche A Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) during the period from and including the Amendment No. 1 to ARCA Effective Date to but excluding the date on which such Tranche B Revolving Commitment terminates, the Applicable Fee per annum for Tranche B Revolving Commitments, in each case, on the average daily unused amount of the termination of the each Tranche B Revolving Credit Commitments Commitment of such Class, including at any time during which one or more of the conditions in Article IV is not met, and Lender. Accrued Commitment Fees shall be due and payable in arrears on (i) quarterly in arrears on the last Business Day of each day of March, June, September and DecemberDecember of each year, (ii) with respect to Tranche A Revolving Commitments, the Tranche A Revolving Maturity Date and (iii) with respect to Tranche B Revolving Commitments, the Tranche B Revolving Maturity Date, in each case commencing with on the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Classhereof. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount All Commitment Fees shall be computed on the basis of a year of 360 days and multiplied by shall be payable for the Applicable Rate separately actual number of days elapsed (including the first day but excluding the last day). For purposes of computing Commitment Fees with respect to Revolving Commitments, a Revolving Commitment of a Lender shall be deemed to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline Exposure of such Lender shall be disregarded for each period during such quarter that such Applicable Rate was in effectpurpose).”;
Appears in 1 contract
Commitment Fee. (a) The Borrowers agree to Company shall (or shall procure that a Borrower will) pay to the Administrative Agent (for the account of each Revolving Credit Lender under each Class Lender) a fee in the Base Currency computed at the rate of:
(i) 35 per cent. of Revolving Credit Commitments in accordance with its Pro Rata Share or other the Margin applicable share provided for under this Agreement, a commitment fee equal to the product of Revolving Facility on that ▇▇▇▇▇▇’s Available Commitment under the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and the actual daily amount by which the aggregate Revolving Credit Commitment Facility for the applicable Class of Revolving Credit Commitments exceeds period starting on the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments Closing Date and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue ending on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of applicable to the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, and Facility;
(ii) 35 per cent. of the Margin applicable to the Capex/Acquisition Facility on that ▇▇▇▇▇▇’s Available Commitment under the Capex/Acquisition Facility for the period starting on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (yi) the date which is 50 days after the Closing Date and (ii) the first Utilisation Date under the Capex/Acquisition Facility (the “First CAF Commitment Fees Accrue Date”), and ending on the last day of the termination Availability Period applicable to the Capex/Acquisition Facility;
(iii) in relation to an Incremental Facility, the percentage rate per annum specified in the Incremental Facility Notice relating to that Incremental Facility on that Lender’s Available Commitment under that Incremental Facility for the Availability Period applicable to that Incremental Facility.
(b) The accrued commitment fee is payable on each Quarter Date (or such other date as agreed between the Company and the Agent) which ends during the relevant period starting on, in respect of the Revolving Credit Commitments Facility, the Closing Date and in respect of such Class. The the Capex/Acquisition Facility, the First CAF Commitment Fees Accrue Date and, in each case, ending on the last day of the relevant Availability Period and, if cancelled in full, on the cancelled amount of the relevant Lender’s Commitment at the time the cancellation is effective.
(c) No commitment fee is payable to the Agent (for the account of the relevant Lender) on any Available Commitment of that Lender for any day on which that Lender is a Defaulting Lender.
(d) For the avoidance of doubt no commitment fee shall be calculated quarterly payable in arrears, and if respect of an Incremental Facility until such time as there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectan Incremental Facility Commitment.
Appears in 1 contract
Commitment Fee. The Borrowers agree With respect to each Class of Revolving Credit Commitments in respect of any applicable Facility, the Borrower shall pay to the Administrative Agent (i) for any period prior to the date on which an Extension Amendment becomes effective, for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments for such Facility in accordance with its Pro Rata Share or other applicable share provided for under this AgreementShare, a commitment fee equal to the product of the Applicable Rate with respect to unused commitment fees then in effect for the applicable Class of Revolving Credit Commitment fees for such Class and Commitments times the actual daily amount by which the aggregate Revolving Credit Commitment Commitments for the applicable Class of Revolving Credit Commitments such Facility exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for under such Class of Revolving Credit Commitments Facility and (B) the Outstanding Amount of L/C Obligations for such Class Facility and (ii) for any period after the date on which an Extension Amendment becomes effective, for the account of each Non-Extending Revolving Credit Lender and each Extending Revolving Credit Lender in accordance with its Other Allocable Share of the Non-Extended Revolving Credit Commitments and the Extended Revolving Credit Commitments, respectively, a commitment fee equal to the Applicable Rate with respect to commitment fees in respect of such Non-Extended Revolving Credit Commitments or the Extended Revolving Credit Commitments, as the case may be, times the Allocable Revolving Share of the Non-Extending Revolving Credit Lenders or the Extending Revolving Credit Lenders, as the case may be, of the actual daily amount by which the aggregate Revolving Credit Commitments for such Facility exceed the sum of (A) the Outstanding Amount of Revolving Credit CommitmentsLoans under such Facility and (B) the Outstanding Amount of L/C Obligations under such Facility; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments under such Facility of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Revolving Credit Commitments under any Facility of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of fees for the Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of date hereof (or from the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of date on which Revolving Credit Commitments and (yfor the applicable Facility come into effect in accordance with the terms hereof) until the date of the termination of the Original Revolving Credit Commitments of Maturity Date or the applicable Maturity Date for such ClassFacility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during last Business Day of March, 2017, and on the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period applicable Maturity Date for such Class of Revolving Credit Commitments, Facility (and (ii) on the earlier of (x) the Maturity Date for such Class of any Non-Extended Revolving Credit Commitments (with respect to commitment fees accrued for the accounts of Non-Extending Revolving Credit Lenders) and (y) the date of the termination of the Maturity Date for Extended Revolving Credit Commitments (with respect to commitment fees accrued for the accounts of Extending Revolving Credit Lenders) for any such ClassFacility in respect of which an Extension Amendment has been effected). The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 1 contract
Sources: Credit Agreement (Casa Systems Inc)
Commitment Fee. The Borrowers agree to pay pay, on a joint and several basis, to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share of the Non-Extended Revolving Credit Facility or other applicable share provided for under this Agreementthe Extended Revolving Credit Facility, as applicable, a commitment fee equal to the product of the Applicable Rate with respect to for unused Revolving Credit Commitment commitment fees for such Class and multiplied by the actual daily amount by which (i) in the case of Non-Extended Revolving Credit Lenders, the aggregate Non-Extended Revolving Credit Commitment for exceeds the applicable Class sum of the Outstanding Amount of Non-Extended Revolving Credit Commitments Loans and (ii) in the case of Extended Revolving Credit Lenders, the aggregate Extended Revolving Credit Commitment exceeds the sum of (A) the Outstanding Amount of Extended Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of Extended L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided provided, that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; and provided, further, that no commitment Defaulting Lender shall be entitled to receive any fee shall accrue on payable under this Section 2.09(a) for any of the Revolving Credit Commitments of period during which such Lender is a Defaulting Lender so long as (and the Borrowers shall not be required to pay any such Lender shall fee that otherwise would have been required to be a paid to that Defaulting Lender). The commitment fee on each Class of theeach Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Closing Date until the Maturity Date for the applicable Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility, including at any time during which one or more of the conditions in Article IV Article 4 is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of the applicable Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. For the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be counted towards or considered usage of the Aggregate Commitments for purposes of determining the commitment fee.
Appears in 1 contract
Sources: Credit Agreement (Uniti Group Inc.)
Commitment Fee. The Borrowers agree to Commencing on the Closing Date, the Borrower shall pay to the Administrative Agent Agent, for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or the Lenders (other applicable share provided for under this Agreementthan any Defaulting Lender), a non-refundable commitment fee at a rate per annum equal to the product applicable rate based upon the table set forth below (the “Commitment Fee Rate”) on the aggregate average daily unused portion of the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and (other than the actual daily Defaulting Lenders’, if any); provided, that the amount by which of outstanding Swingline Loans shall not be considered usage of the aggregate Revolving Credit Commitment for the applicable Class purpose of Revolving Credit Commitments exceeds the sum of calculating such commitment fee (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that other than with respect to calculating any commitment fee accrued with respect due to any the Swingline Lender in which case, the full Swingline Commitment shall be deemed usage of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting LenderCommitment). The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each calendar quarter during the term of March, June, September and December, this Agreement commencing with on the first such date during following the Closing Date, and on the Revolving Credit Maturity Date. Such commitment fee shall be distributed by the Administrative Agent to the Lenders (other than any Defaulting Lender) pro rata in accordance with the Lenders’ respective Revolving Credit Commitment Percentages. The Commitment Fee Rate shall be based upon the table set forth below and shall be determined and adjusted quarterly on each Calculation Date; provided, however, that (i) the initial Commitment Fee Rate shall be based on Pricing Level IV (as shown below) and shall remain at Pricing Level IV until the first full fiscal quarter to occur Calculation Date occurring after the first Closing Date and thereafter the Pricing Level shall be determined by reference to the Adjusted Debt to EBITDAR Ratio as of the last day of the Revolving Credit Availability Period for such Class most recently ended Fiscal Quarter of Revolving Credit Commitmentsthe Borrower preceding the applicable Calculation Date, and (ii) if the Borrower fails to provide the Officer’s Compliance Certificate as required by Section 8.2 for the most recently ended Fiscal Quarter of the Borrower preceding the applicable Calculation Date, the Commitment Fee Rate from such Calculation Date shall be based on Pricing Level I (as shown below) until such time as an appropriate Officer’s Compliance Certificate is provided, at which time the earlier Pricing Level shall be determined by reference to the Adjusted Debt to EBITDAR Ratio as of (xthe last day of the most recently ended Fiscal Quarter of the Borrower preceding such Calculation Date. Subject to Sections 5.3(a)(i) the Maturity Date for such Class of Revolving Credit Commitments and (yii) in the date of preceding sentence, the termination of the Revolving Credit Commitments of such Class. The commitment fee Commitment Fee Rate shall be calculated quarterly in arrearseffective from one Calculation Date until the next Calculation Date. I Greater than or equal to 5.00 to 1.00 1.000 % II Greater than or equal to 4.50 to 1.00, and if there is any change in the Applicable Rate during any quarterbut less than 5.00 to 1.00 0.875 % III Greater than or equal to 4.00 to 1.0, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.but less than 4.50 to 1.00 0.750 % IV Greater than or equal to 3.50 to 1.00 but less than 4.00 to 1.00 0.625 % V Less than 3.50 to 1.00 0.500 %
Appears in 1 contract
Sources: Credit Agreement (O Charleys Inc)
Commitment Fee. The Borrowers agree to On the fifth Business Day after commitment fees are calculated in accordance with the next succeeding sentence, the U.S. Borrower and Basell Finance shall pay in Dollars to the Administrative Agent for the account of each (1) Primary Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee equal to the product of the Applicable Rate with respect to unused Primary Revolving Credit Commitment fees for such Class and Loans times the actual daily amount by which the aggregate Primary Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Primary Revolving Credit Loans for under such Class of Revolving Credit Commitments Facility and (B) the Outstanding Amount of Primary L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender (other than a Lender deemed a Defaulting Lender solely under clause (c) of the definition thereof) during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender (other than a Lender deemed a Defaulting Lender solely under clause (c) of the definition thereof) so long as such Lender shall be a Defaulting Lender and (2) Dutch Revolving Credit Lender in accordance with its Pro Rata Share a commitment fee equal to the Applicable Rate with respect to Dutch Revolving Credit Loans times the actual daily amount by which the aggregate Dutch Revolving Credit Commitment exceeds the sum of (A) the Outstanding Amount of Dutch Revolving Credit Loans under such Facility and (B) the Outstanding Amount of Dutch L/C Obligations; provided that any commitment fee accrued with respect to any of the Commitments of a Defaulting Lender (other than a Lender deemed a Defaulting Lender solely under clause (c) of the definition thereof) during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable prior to such time; and provided further that no commitment fee shall accrue on any of the Commitments of a Defaulting Lender (other than a Lender deemed a Defaulting Lender solely under clause (c) of the definition thereof) so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Original Closing Date until the Maturity Date for the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) calculated quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsOriginal Closing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if If there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 1 contract
Commitment Fee. The Borrowers agree PRN1 883012 30 Accruing from the date hereof until the Expiration Date, the Borrower agrees to pay to the Administrative Agent in Dollars for the account of each Lender, as consideration for such Lender's Revolving Credit Lender under each Class Commitment hereunder, a nonrefundable commitment fee (the "Commitment Fee"), calculated on a per annum (365 or 366 days, as appropriate, and actual days elapsed) basis at the Applicable Commitment Fee Rate from time to time on the average daily difference between the amount of (a) such Lender's Revolving Credit Commitment as the same may be constituted from time to time and (b) the principal amount of such Lender's Ratable Share of Revolving Credit Commitments Facility Usage (provided, however, that solely in accordance connection with its Pro Rata Share or other applicable determining the share provided for under this Agreementof each Lender in the Commitment Fee, a commitment fee equal to the product of the Applicable Rate Revolving Facility Usage with respect to unused the portion of the Commitment Fee allocated to PNC Bank shall include the full amount of the outstanding Swing Loans, and with respect to the portion of the Commitment Fee allocated by the Administrative Agent to all of the Lenders other than PNC Bank, such portion of the Commitment Fee shall be calculated (according to each such Lender's Ratable Share) as if the Revolving Credit Commitment fees for such Class and Facility Usage excludes the actual daily amount by which the aggregate Revolving Credit Commitment outstanding Swing Loans), in each case, as determined for the applicable Class of Revolving Credit Commitments exceeds immediately preceding fiscal quarter (or shorter period commencing with the sum of (A) Closing Date or ending with the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsExpiration Date); provided provided, however, that any commitment fee Commitment Fee accrued with respect to any of the Revolving Credit Commitments Commitment of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be is a Defaulting Lender except to the extent that such commitment fee Commitment Fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, and provided further that no commitment fee Commitment Fee shall accrue on any of the Revolving Credit Commitments Commitment of a Defaulting Lender so long as such Lender shall be is a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and All Commitment Fees shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of each January, April, July and October for the Revolving Credit Availability Period for such Class immediately preceding quarter, the date of each reduction of the Revolving Credit Commitments, and (ii) on the earlier Expiration Date or upon acceleration of (x) the Maturity Date for such Class Notes. For purposes of this computation, PNC Bank's outstanding Swing Loans shall be deemed to be borrowed amounts under its Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectCommitment.
Appears in 1 contract
Commitment Fee. The Borrowers agree With respect to each Class of Revolving Credit Commitments, the Borrower shall pay to the Administrative Agent for the account of each Revolving Credit Lender under each such Class of Revolving Credit Commitments then in effect in accordance with its Pro Rata Share or other applicable share provided for under this AgreementShare, a commitment fee equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment commitment fees then in effect for such Class and of Revolving Credit Commitments, multiplied by the actual daily amount by which the aggregate Revolving Credit Commitment Commitments for the applicable such Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans (excluding, for the avoidance of doubt, Swing Line Loans) under such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class (but not, for the avoidance of Revolving Credit Commitmentsdoubt, the Outstanding Amount of Swing Line Loans); provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender Lender, except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; and provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments under any Facility of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of fees for any Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Closing Date (or from the Revolving Credit Availability Period for such Class, until date on which the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of applicable Revolving Credit Commitments and (ycome into effect in accordance with the terms hereof) until the date of the termination of the Maturity Date for suchthe applicable Class under each Revolving Credit Commitments of such ClassFacility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day last Business Day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsDecember 2021, and (ii) on the earlier of (x) the Maturity Date for such the applicable Class of under each Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 1 contract
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments Facility in accordance with its Pro Rata Share or other applicable share provided for under this AgreementShare, a commitment fee equal to the product of the Applicable Rate with respect to unused the Revolving Credit Commitment Loan commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsObligations; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, and provided further that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Closing Date until the Maturity Date for the applicable Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsClosing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of each Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. For the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be counted towards or considered usage of the Aggregate Commitments for purposes of determining the commitment fee.
Appears in 1 contract
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments Facility in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment Loan commitment fees for such Class and times the actual daily amount by which the aggregate Revolving Credit Commitment Commitments of all Revolving Credit Lenders for the applicable Class of Revolving Credit Commitments Facility exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans (excluding, for the avoidance of doubt, Swing Line Loans) for such Class of Revolving Credit Commitments Facility and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit CommitmentsFacility; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; and provided, further, that no commitment fee shall accrue on any of the Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of Original Closing Date until the Maturity Date for the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit CommitmentsOriginal Closing Date, and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such ClassFacility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Appears in 1 contract
Commitment Fee. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee equal to fee, which shall accrue at the product Applicable Margin (determined daily) on the daily amount of the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any Loan portion of the Revolving Credit Commitments Commitment of a Defaulting such Lender during the period prior to the time Availability Period; provided, that if such Lender became a Defaulting Lender and unpaid at such time shall not be payable by continues to have any Revolving Credit Exposure after the Borrowers so long as such Lender shall be a Defaulting Lender except to commitment Termination Date, then the extent that such commitment fee shall otherwise have continue to accrue on the amount of such Lender's unused Revolving Loan portion of the Revolving Commitment from and after the Commitment Termination Date to the date that all of such Lender's Revolving Credit Exposure has been due and payable by paid in full. The Borrower agrees to pay to the Borrowers prior to Swingline Lender for the account of each Lender a commitment fee, which shall accrue at the Applicable Margin (determined daily) on the daily amount of the unused Swingline Loan portion of the Revolving Commitment of such timeLender during the Availability Period; provided, furtherthat if such Lender continues to have any Revolving Credit Exposure after the Commitment Termination Date, that no then the commitment fee shall continue to accrue on any the amount of such Lender's unused Swingline Loan portion of the Revolving commitment from and after the Commitment Termination Date to the date that all such Lender's Revolving Credit Commitments of a Defaulting Lender so long as such Lender Exposure has been paid in full. Accrued commitment fees shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreementpayable quarterly, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day day of each of March, June, September and DecemberDecember of each year and on the Commitment Termination Date, commencing with on the first such date during the first full fiscal quarter to occur after the first day Closing Date; provided further, that any commitment fees accruing after the Commitment Termination Date shall be payable on demand. For purposes of computing commitment fees with respect to the Revolving Commitments, the Revolving Commitment of each Lender shall be deemed used to the extent of the outstanding Revolving Credit Availability Period for such Class of Revolving Credit Commitments, Loans and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments Swingline Loans of such Class. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectLender.
Appears in 1 contract
Sources: Revolving Credit Agreement (Patriot Transportation Holding Inc)
Commitment Fee. (i) The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Tranche A Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee equal (the “Tranche A Commitment Fee”), in Dollars, for the period from and including the Closing Date to the product last day of the Applicable Rate Revolving Commitment Period with respect to unused the Tranche A Revolving Credit Facility (or, if earlier, the termination of all Tranche A Revolving Commitments), computed at the Commitment fees for such Class and Fee Rate on the actual daily amount by of the Available Revolving Commitment (but solely with respect to such Tranche A Revolving Lender’s Tranche A Revolving Commitment and Tranche A Revolving Extensions of Credit) (provided, that, for purposes of this calculation, the Swingline Exposure shall not constitute a Tranche A Revolving Extension of Credit) of such Tranche A Revolving Lender during the period for which payment is made, payable quarterly in arrears on the aggregate Revolving Credit Commitment for later of (x) each Fee Payment Date and (y) the applicable Class date that is two Business Days after the Borrower’s receipt from the Administrative Agent of Revolving Credit Commitments exceeds documentation supporting the sum calculation of such commitment fee; provided, that (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any of the Tranche A Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers Borrower prior to such time; provided, further, that time and (B) no commitment fee shall accrue on any of the Tranche A Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. .
(ii) The Borrower agrees to pay to the Administrative Agent for the account of each Tranche B Revolving Lender a commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified the “Tranche B Commitment Fee” and together with the Tranche A Commitment Fee, the “Commitment Fee”), in Dollars, for the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting period from and including the first day of the Revolving Credit Availability Period for such Class, until the earlier of (x) Closing Date to the last day of the Revolving Credit Availability Commitment Period with respect to the Tranche B Revolving Facility (or, if earlier, the termination of all Tranche B Revolving Commitments), computed at the Commitment Fee Rate on the actual daily amount of the Available Revolving Commitment (but solely with respect to such Tranche A Revolving Lender’s Tranche B Revolving Commitment and Tranche B Revolving Extensions of Credit) of such Tranche B Revolving Lender during the period for such Class which payment is made, payable quarterly in arrears on the later of Revolving Credit Commitments (x) each Fee Payment Date and (y) the date that is two Business Days after the Borrower’s receipt from the Administrative Agent of documentation supporting the calculation of such commitment fee; provided, that (A) any commitment fee accrued with respect to any of the termination of the Tranche B Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Class, including Lender became a Defaulting Lender and unpaid at any such time during which one or more of shall not be payable by the conditions in Article IV is not met, and Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable (i) quarterly in arrears on by the last Business Day of each of March, June, September and December, commencing with the first Borrower prior to such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, time and (iiB) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class. The no commitment fee shall be calculated quarterly in arrears, and if there is accrue on any change in of the Applicable Rate during any quarter, the actual daily amount Tranche B Revolving Commitments of a Defaulting Lender so long as such Lender shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effecta Defaulting Lender.
Appears in 1 contract
Sources: Asset Based Revolving Credit Agreement (Revlon Consumer Products Corp)