Common use of Commitment Fees Payable Clause in Contracts

Commitment Fees Payable. The Borrower shall, subject to Section 11.5(b)(ii)(y), pay to the Lenders pursuant to Section 6.4 or 9.1, as applicable, ratably in proportion to their respective Percentage Shares, a commitment fee (the "Commitment Fee") accruing for each day during each Interest Period during the Commitment Period at a per annum rate equal to 1.00% of the Undrawn Commitment Amount; provided that the Commitment Fee for the period accruing from (and including) the Closing Date to (and excluding) the date that is six months after the Closing Date will be payable at a per annum rate equal to 0.50% of the Undrawn Commitment Amount. The Commitment Fee shall be payable quarterly in arrears on the Quarterly Payment Date immediately following each Interest Period for which it accrues as provided in the Priority of Payments and shall be calculated by the Administrative Agent pursuant to Section 2.10.

Commitment Fees Payable. The Borrower shall, subject to Section 11.5(b)(ii)(y), pay to the Lenders pursuant to Section 6.4 or 9.1, as applicable, ratably in proportion to their respective Percentage Shares, a commitment fee (the "“Commitment Fee"”) accruing for each day during each Interest Period during the Commitment Period at a per annum rate equal to 1.00% of the Undrawn Commitment Amount; provided that the Commitment Fee for the period accruing from (and including) the Closing Date to (and excluding) the date that is six three months after the Closing Date will be payable at a per annum rate equal to 0.50% of the Undrawn Commitment Amount. The Commitment Fee shall be payable quarterly in arrears on the Quarterly Payment Date immediately following each Interest Period for which it accrues as provided in the Priority of Payments and shall be calculated by the Administrative Agent pursuant to Section 2.10.