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 Class A-R Lenders pursuant to Section 6.4 or 9.1, as applicable, ratably in proportion to their respective Percentage Shares, a commitment fee (a “Commitment Fee”) commencing on the Closing Date and accruing for each day during each Interest Period at a per annum rate equal to (i) from the Closing Date to but excluding the date that is three months after the Closing Date, 0.25% of the undrawn amount of the Total Class A-R Commitment as of the end of such day and (ii) thereafter, 0.50% of the undrawn amount of the Total Class A-R Commitment as of the end of such day; provided further, that if the Commitment of any Class A-R Lender is reduced as the result of a Bail-In Action, the Commitment Fee payable to such Lender shall be calculated based on its Commitment as so reduced. The Commitment Fees shall be payable quarterly in arrears on the Quarterly Payment Date immediately following each Interest Period for which such fees accrue as provided in the Priority of Payments and shall be calculated by the Facility Agent pursuant to Section 2.10.