Common use of Commitment Fees Clause in Contracts

Commitment Fees. The Company shall pay to the Agent for the account of each Bank a commitment fee equal to the Applicable Fee Percentage per annum times the actual daily unused portion of such Bank's Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent. For purposes of calculating utilization under this subsection, the Commitment shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding plus the Effective Amount of L/C Obligations then outstanding. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal quarter of the Company) commencing on October 30, 1998 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments under Section 2.05, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Optical Coating Laboratory Inc)

Commitment Fees. The Company shall pay to the Agent for the account of each Bank Lender a commitment fee equal to ("Commitment Fee") on the Applicable Fee Percentage per annum times the actual average daily unused portion of such BankLender's Revolving Loan Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent, at the Applicable Margin per annum. For purposes of calculating utilization under this subsectionSection, the Revolving Loan Commitment shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations then outstanding. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each JanuaryMarch, AprilJune, July September and October (i.e., each fiscal quarter of the Company) commencing on October 30, 1998 December through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided PROVIDED that, in connection with any reduction or termination of the Commitments Revolving Loan Commitment under Section SECTION 2.05, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection Section shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Century Business Services Inc)

Commitment Fees. The Company shall pay to the Agent for the account of each Bank a commitment fee equal to on the Applicable Fee Percentage per annum times the actual average daily unused portion of such Bank's Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent, equal to the Applicable Margin . For purposes of calculating utilization under this subsection, the Commitment Commitments shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations then outstanding. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each JanuaryMarch, AprilJune, July September and October (i.e.December, each fiscal quarter of the Company) commencing on October 30March 31, 1998 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments under Section 2.052.5 or Section 2.7, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Vlsi Technology Inc)

Commitment Fees. The Company shall pay to the Agent for the --------------- account of each Bank Lender with a Revolving Loan Commitment or L/C Commitment a commitment fee equal to ("Commitment Fee") on the Applicable Fee Percentage per annum times the actual average daily unused portion of such Bank-------------- Revolving Lender's CommitmentRevolving Loan Commitment or L/C Lender's L/C Commitment (as the case may be), computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent, equal to the Applicable Margin per annum applicable to the Commitment Fee. For purposes of calculating utilization under this subsectionSection, the Commitment Revolving Loan Commitments shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding plus and the L/C Commitments shall be deemed used to the extent of the Effective Amount of all L/C Obligations then outstanding. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each JanuaryMarch, AprilJune, July September and October (i.e., each fiscal quarter of the Company) commencing on October 30, 1998 December through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments under Section 2.05, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection Section shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.. ---------

Appears in 1 contract

Sources: Credit Agreement (Impac Group Inc /De/)

Commitment Fees. The Company shall pay to the Agent for the account of each Bank Revolving Lender a commitment fee equal to on the Applicable Fee Percentage per annum times the actual average daily unused portion of such BankRevolving Lender's Revolving Loan Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent, equal to the Applicable Commitment Fee Percentage. For purposes of calculating utilization under this subsection, the Commitment Revolving Loan Commitments shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding (excluding any outstanding Swing Line Loans), plus the Effective Amount of L/C Obligations then outstanding. Such commitment fee shall accrue from the Closing Date date hereof to the Revolving Loan Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal calendar quarter of the Company) commencing on October 30March 31, 1998 2000 through the Revolving Loan Termination Date, with the final payment to be made on the Revolving Loan Termination Date; provided PROVIDED that, in connection with any reduction or termination of the Revolving Loan Commitments under Section 2.05SECTION 2.07, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article ARTICLE V are not met.

Appears in 1 contract

Sources: Credit Agreement (Lone Star Technologies Inc)

Commitment Fees. The Company shall pay to the Agent for the account of each Bank a commitment fee equal to on the Applicable Fee Percentage per annum times the actual average daily unused portion of such Bank's Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal quarter quarter, equal to the product of (i) the Company based upon Applicable Commitment Fee Rate and (ii) the average daily utilization for that quarter as calculated by the Agentunused portion of such Bank's Commitment during such fiscal quarter. For purposes of calculating utilization under this subsection, the Commitment Commitments shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations then outstanding. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day day of each JanuaryMarch, AprilJune, July September and October (i.e.December, each fiscal quarter of the Company) commencing on October 30December 31, 1998 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments under Section 2.052.05 or Section 2.07, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection shall accrue at all times after the above-above- mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Sierra Health Services Inc)

Commitment Fees. The Company shall pay to the Agent for the account of each Bank a commitment fee equal to the Applicable Fee Percentage per annum times on the actual daily unused portion of such Bank's Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent, equal to Commitment Fee Rate. For purposes of calculating utilization under this subsection, the Commitment Commitments shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations then outstanding. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal calendar quarter of the Company) commencing on October September 30, 1998 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided thatPROVIDED THAT, in connection with any reduction or termination of the Commitments under Section SECTION 2.05, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article ARTICLE V are not met.

Appears in 1 contract

Sources: Credit Agreement (Genlyte Group Inc)

Commitment Fees. The Company shall pay to the Agent for the account of each Bank a commitment fee equal to the Applicable Fee Percentage 0.12% per annum times of the actual average daily unused portion of such Bank's Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent. For purposes of calculating utilization under this subsectionsection, the Commitment Commitments shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations then outstanding. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal calendar quarter of the Company) commencing on October 30, 1998 the Closing Date through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided PROVIDED that, in connection with any reduction or termination of the Commitments under Section 2.05SECTION 2.5 or SECTION 2.7, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection section shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Abm Industries Inc /De/)

Commitment Fees. The Company shall pay to the Agent Agent, for the account of each Bank in accordance with its Pro Rata Share, a commitment fee equal to the product of (i) the Applicable Fee Percentage per annum Margin for the commitment fee times (ii) the actual daily unused portion amount by which the total Commitments of such Bank's Commitment, computed on a quarterly basis in arrears on all Banks exceed the last Business Day outstanding principal of each fiscal quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent. For purposes of calculating utilization under this subsection, the Commitment shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding plus the Effective Amount of L/C Obligations then outstandingall Loans. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each JanuaryFebruary, AprilMay, July August and October (i.e., each fiscal quarter of the Company) November commencing on October 30August 31, 1998 2011 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments under Section 2.05, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. If there is any change in the Applicable Margin for the commitment fee during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Margin for the commitment fee separately for each period during such quarter that such Applicable Margin for the commitment fee was in effect. The commitment fees provided in this subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V IV are not met.

Appears in 1 contract

Sources: Credit Agreement (Mentor Graphics Corp)

Commitment Fees. The Company shall pay to the Administrative Agent for the account of each Bank a commitment fee equal to (the Applicable Fee Percentage per annum times "Commitment Fee") on the actual average daily unused portion of such Bank's Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Administrative Agent, equal to the percent per annum set forth in Schedule 2.02 corresponding to the applicable pricing level determined in accordance therewith. For purposes of calculating utilization under this subsection, the Commitment Commitments shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations then outstanding. Such commitment fee Commitment Fee shall accrue from the Closing Execution Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal quarter of the Company) commencing on October 30December 31, 1998 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments under Section SECTION 2.05, the accrued commitment fee Commitment Fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees Commitment Fee provided in this subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Giant Industries Inc)

Commitment Fees. The Company shall pay to the Agent for the account of each Bank Lender a commitment fee equal to ("COMMITMENT FEE") on the Applicable Fee Percentage per annum times the actual average daily unused portion of such BankLender's Revolving Loan Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent, at the Applicable Margin per annum. For purposes of calculating utilization under this subsectionSection, the Revolving Loan Commitment shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding plus outstanding, PLUS the Effective Amount of L/C Obligations then outstandingoutstanding but excluding for the purposes of calculating utilization under this Section the Effective Amount of Swing Line Loans. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each JanuaryMarch, AprilJune, July September and October (i.e., each fiscal quarter of the Company) commencing on October 30, 1998 December through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments Revolving Loan Commitment under Section SECTION 2.05, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection Section shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Century Business Services Inc)

Commitment Fees. The Company shall pay to the Administrative Agent for the account of each Bank Lender a commitment fee equal to (the Applicable Fee Percentage per annum times "Commitment Fee") on the actual average daily unused portion of such BankLender's Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Administrative Agent, equal to the percent per annum set forth in Schedule 2.02 corresponding to the applicable pricing level determined in accordance therewith. For purposes of calculating utilization under this subsection, the Commitment Commitments shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations then outstanding. Such commitment fee Commitment Fee shall accrue from the Closing Execution Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal quarter of the Company) commencing on October September 30, 1998 2004 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments under Section 2.05, the accrued commitment fee Commitment Fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees Commitment Fee provided in this subsection shall accrue at all times after the above-above- mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Giant Industries Inc)

Commitment Fees. The Company Borrower shall pay to the Agent for the account of each Bank Lender a commitment fee equal to on the Applicable Fee Percentage per annum times the actual average daily unused portion of such BankLender's Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent, equal to the Applicable Margin for Commitment Fees. For purposes of calculating utilization under this subsectionclause, the Commitment Commitments shall be deemed used to the extent of the Effective Amount aggregate principal amount of Revolving Committed Loans then outstanding plus the Effective Amount of L/C Obligations then outstanding. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each Januarycalendar quarter through the Termination Date, April, July and October (i.e., each fiscal commencing with the calendar quarter of the Company) commencing on October ending June 30, 1998 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided PROVIDED that, in connection with any reduction or termination of the Commitments under Section 2.05SECTION 2.7, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or terminationnext following quarter end, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection clause shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article ARTICLE V are not met.

Appears in 1 contract

Sources: Credit Agreement (Adc Telecommunications Inc)

Commitment Fees. The Company shall pay to the Agent for the account of each Bank a commitment fee equal to on the Applicable Fee Percentage per annum times the actual average daily unused portion of such Bank's Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent, equal to 1/2 of 1% per annum. For purposes of calculating utilization under this subsection, the Commitment Commitments shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations then outstanding. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each JanuaryMarch, AprilJune, July September and October (i.e.December, each fiscal quarter of the Company) commencing on October September 30, 1998 1997, through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments under Section 2.052.05 or Section 2.07, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Bucyrus International Inc)

Commitment Fees. The Company shall pay to the Administrative Agent for the account of each Bank Revolving Lender a commitment fee equal to the Applicable Commitment Fee Percentage per annum Rate times the actual daily unused portion of such BankRevolving Lender's Revolving Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal quarter of the Company based upon the daily utilization for that quarter as calculated by the Agentcalendar quarter. For purposes of calculating utilization under this subsection, the Commitment Revolving Commitments shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations then outstanding. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal quarter of the Company) commencing on October 30, 1998 the first such date after the date hereof through the Revolving Termination Date, with the final payment to be made on the Revolving 65 Termination Date; provided that, in connection with any reduction or termination of the Revolving Commitments under Section 2.052.5, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V VI are not met.

Appears in 1 contract

Sources: Credit Agreement (Nebco Evans Holding Co)

Commitment Fees. The Company shall pay to the Agent for the account of each Bank a commitment fee equal to (the Applicable Fee Percentage per annum times “Commitment Fee”) on the actual average daily unused portion of such Bank's ’s Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent, equal to the Applicable Commitment Fee Rate. For purposes of calculating utilization under this subsection, the Total Commitment shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations then outstanding. Such commitment fee Commitment Fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each Januarycalendar quarter, April, July and October (i.e., each fiscal quarter of the Company) commencing on October 30the first such quarterly date to occur after the Closing Date, 1998 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments Total Commitment under Section 2.052.5 or Section 2.7, the accrued commitment fee Commitment Fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees Commitment Fees provided in this subsection shall accrue at all times after during the above-mentioned commencement dateperiod, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (New Horizons Worldwide Inc)

Commitment Fees. The Company shall pay to the --------------- Agent for the account of each Bank Lender a commitment fee equal to the Applicable Fee Percentage per annum times on the actual daily unused portion of such BankLender's Revolving Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the AgentAgent at a rate per annum equal to the Applicable Fee Amount. For purposes of calculating utilization under this subsection, the Commitment Revolving Commitments shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the ---- Effective Amount of L/C Obligations then outstanding. Swingline Loans shall not constitute utilization. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July and October calendar quarter (i.e., each fiscal quarter of the Company) commencing on October 30March 31, 1998 through 2000) to the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, that in connection with any reduction or termination of the Revolving -------- Commitments under Section 2.05, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Mail Well Inc)

Commitment Fees. The Company At all times after the Revolver Date, the Borrower --------------- shall pay to the Agent for the account of each Bank a commitment fee equal to (the Applicable Fee Percentage per annum times "Commitment Fee") on the actual average daily unused portion of such Bank's Commitment, computed on a quarterly monthly basis in arrears on the last Business Day of each fiscal quarter of the Company calendar month based upon the daily utilization (including utilization of the L/C Commitment) for that quarter month as calculated by the Agent. For purposes of calculating utilization under this subsection, the Commitment shall be deemed used equal to the extent of the Effective Amount of Revolving Loans then outstanding plus the Effective Amount of L/C Obligations then outstandingApplicable Fee with respect to Commitments per annum. Such commitment fee shall accrue from the Closing Revolver Date to the Revolving Termination Date and shall be due and payable quarterly monthly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal quarter of the Company) commencing on October 30, 1998 through the Revolving Termination Datecalendar month, with the final payment payment, if any, to be made on the Revolving Termination Date; provided that, in -------- connection with any reduction or termination of the Commitments under Section 2.052.5 ----------- and 2.6, the accrued commitment fee calculated for the period ending on such --- date shall also be paid on the date of such reduction or termination, with the following quarterly monthly payment being calculated on the basis of the period from such reduction or termination date to such quarterly monthly payment date. The commitment fees provided in this subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.. ---------

Appears in 1 contract

Sources: Secured Credit Agreement (System Software Associates Inc)

Commitment Fees. The Company Borrower shall pay to the Agent for the account of each Bank Lender a commitment fee equal to (“Commitment Fee”) on the Applicable Fee Percentage per annum times the actual average daily unused portion of such Bank's Lender’s Revolving Loan Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent, at the Applicable Margin per annum. For purposes of calculating utilization under this subsectionSection, the Revolving Loan Commitment shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations then outstandingoutstanding but excluding for the purposes of calculating utilization under this Section the Effective Amount of Swing Line Loans. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each JanuaryMarch, AprilJune, July September and October (i.e., each fiscal quarter of the Company) commencing on October 30, 1998 December through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments Revolving Loan Commitment under Section 2.05, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection Section shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (CBIZ, Inc.)

Commitment Fees. The Company shall pay to the Agent for the account of each Bank Lender a commitment fee equal to (“Commitment Fee”) on the Applicable Fee Percentage per annum times the actual average daily unused portion of such Bank's Lender’s Revolving Loan Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent, at the Applicable Margin per annum. For purposes of calculating utilization under this subsectionSection, the Revolving Loan Commitment shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations then outstandingoutstanding but excluding for the purposes of calculating utilization under this Section the Effective Amount of Swing Line Loans. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each JanuaryMarch, AprilJune, July September and October (i.e., each fiscal quarter of the Company) commencing on October 30, 1998 December through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments Revolving Loan Commitment under Section 2.05, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection Section shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (CBIZ, Inc.)

Commitment Fees. The Company shall pay to the Agent for the --------------- account of each Bank a commitment fee equal to on the Applicable Fee Percentage per annum times the actual average daily unused portion of such Bank's Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent, equal to the Applicable Commitment Fee Rate. For purposes of calculating utilization under this subsectionSection, the Commitment Commitments shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations then outstanding. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal calendar year quarter of the Company) commencing on October September 30, 1998 1997 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or -------- termination of the Commitments under Section 2.052.05 or Section 2.07, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection Section shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Cb Commercial Real Estate Services Group Inc)

Commitment Fees. The Company Borrower shall pay to the Agent for the account of each Bank a commitment fee equal to on the Applicable Fee Percentage per annum times the actual average daily unused portion of such Bank's each of the Facility 1 Commitment and the Facility 2 Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent. For purposes Bank, equal to 0.375 % per annum in the case of calculating utilization under this subsection, the Commitment shall be deemed used to the extent each of the Effective Amount of Revolving Loans then outstanding plus Facility 1 Commitment and the Effective Amount of L/C Obligations then outstandingFacility 2 Commitment. Such commitment fee fees shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly monthly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal quarter of the Company) calendar month commencing on October 30December 31, 1998 1998, through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments under Section 2.052.5 or Section 2.7, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V IV are not met.

Appears in 1 contract

Sources: Credit Agreement (Us Home & Garden Inc)

Commitment Fees. The Company shall pay to the Administrative Agent for the account of each Bank Lender a commitment fee equal to (the Applicable Fee Percentage per annum times "Commitment Fee") on the actual average daily unused portion of such BankLender's Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Administrative Agent, equal to the percent per annum set forth in the definition of Applicable Margin corresponding to the applicable pricing level determined in accordance therewith. For purposes of calculating utilization under this subsection, the Commitment Commitments shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations then outstanding. Such commitment fee Commitment Fee shall accrue from the Closing Execution Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal quarter of the Company) commencing on October September 30, 1998 2005 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments under Section 2.05, the accrued commitment fee Commitment Fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees Commitment Fee provided in this subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Giant Industries Inc)

Commitment Fees. The Company Fund shall pay to the Administrative Agent for the account of each Bank a commitment fee equal to on the Applicable Fee Percentage per annum times the actual average daily unused portion of such Bank's Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Administrative Agent. For purposes , equal to 0.125% per annum; PROVIDED that, during that period of calculating utilization under this subsectiontime in which the Commitment Amount exceeds the Borrowing Base, the Commitment commitment fee shall be deemed used accrue at a rate of 0.0625% per annum on an amount equal to the extent of Commitment Amount minus the Effective Amount of Revolving Loans then outstanding plus the Effective Amount of L/C Obligations then outstandingBorrowing Base. Such commitment fee shall accrue from the Closing Date to the Revolving Commitment Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each JanuaryMarch, AprilJune, July September and October (i.e., each fiscal quarter of the Company) December commencing on October 30March 31, 1998 2000 through the Revolving Commitment Termination Date, with the final payment to be made on the Revolving Commitment Termination Date; provided PROVIDED that, in connection with any reduction or termination of the Commitments under Section 2.05SECTION 2.5, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection shall accrue at all times after from and including the above-mentioned commencement date, including at any time during which one or more conditions in Article V ARTICLE IV are not met.

Appears in 1 contract

Sources: Credit Agreement (Liberty Floating Rate Advantage Fund)

Commitment Fees. The Company shall pay to the Administrative Agent for the account of each Bank a commitment fee equal to the Applicable Fee Percentage per annum times the actual daily unused portion of on such Bank's Unused Commitment (the "Commitment Fee"). The Commitment Fee for each Bank shall be computed daily at the applicable per annum rate set forth on Schedule 2.9 on such Bank's Unused Commitment. As used herein, computed on a quarterly basis in arrears on each Bank's "Unused Commitment" shall mean such Bank's Commitment less the last Business Day of each fiscal quarter sum of the Company based upon the daily utilization for that quarter as calculated by the Agent. For purposes then-outstanding principal balance of calculating utilization under this subsection, the Commitment shall be deemed used to the extent such Bank Loans (other than Swingline Loans) and such Bank's Pro Rata Share of the Effective Amount of Revolving Loans then outstanding plus the Effective Amount of L/C Obligations then outstandingObligations. Such commitment fee Commitment Fees shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal quarter of the Company) commencing on October April 30, 1998 2000 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments under Section 2.052.6, the accrued commitment fee Commitment Fees calculated for the period ending on such date also shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees Commitment Fees provided in this subsection shall accrue at all times after the above-mentioned commencement dateClosing Date, including at any time during which one or more conditions in Article V 5 are not met.

Appears in 1 contract

Sources: Credit Agreement (Longview Fibre Co)

Commitment Fees. The Company Companies jointly and severally shall pay to the Agent for the account of each Bank a commitment fee equal to on the Applicable Fee Percentage per annum times sum of the actual average daily unused portion of such Bank's Commitment, ’s Revolving Commitment computed on a quarterly monthly basis in arrears on the last Business Day of each fiscal quarter of the Company calendar month based upon the daily utilization of the Revolving Commitment by Revolving Loans for that quarter month as calculated by the Agent, equal to 0.50% per annum; provided , however , from and after the date that the Extension Election shall have occurred, the commitment fee shall be as set forth in the Letter Agreement. For Swing Line Loans shall not be deemed to be outstanding for purposes of calculating utilization fees under this subsection, the Commitment shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding plus the Effective Amount of L/C Obligations then outstandingSection 2.14 . Such commitment fee shall accrue from the Closing Date date hereof to the Revolving Termination Date and shall be due and payable quarterly monthly in arrears on the last first Business Day of each January, April, July month and October (i.e., each fiscal quarter of the Company) commencing on October 30, 1998 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments under Section 2.052.8 or Section 2.9 , the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly monthly payment being calculated on the basis of the period from such reduction or termination date to such quarterly monthly payment date. The commitment fees provided in this subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Danka Business Systems PLC)

Commitment Fees. The Company shall pay to the Agent for the account of each Bank a commitment fee equal to on the Applicable Fee Percentage per annum times the actual average daily unused portion of such that Bank's Available Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent, equal to the Applicable Margin based on the applicable Total Leverage Ratio in effect on the last day of such calendar quarter. For purposes of calculating computing this commitment fee, Swing Line Outstandings shall not be considered utilization under this subsection, the Commitment shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding plus the Effective Amount of L/C Obligations then outstandingAvailable Commitment. Such commitment fee Commitment fees shall accrue from the Closing Date to the Revolving Termination Maturity Date (whether or not Loans are available hereunder) and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July calendar quarter and October (i.e., each fiscal quarter of the Company) commencing on October 30, 1998 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Maturity Date; provided that, in connection with any reduction or termination of the Commitments under pursuant to Section 2.052.06 or Section 2.08, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following next succeeding quarterly payment being calculated on the basis of the period from such the reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Rio Hotel & Casino Inc)

Commitment Fees. The Company Borrower shall pay to the Administrative --------------- Agent for the account of each Bank a commitment fee equal to on the Applicable Fee Percentage per annum times the actual average daily unused portion of such Bank's Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Administrative Agent, at a rate per annum equal to the Applicable Amount for the commitment fee. For purposes of calculating utilization under this subsectionSection, the Commitment Commitments shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations (excluding L/C Obligations relating to commercial Letters of Credit) then outstanding. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Maturity Date and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal calendar quarter of the Company) commencing on October 30, 1998 the first such date after the Closing Date through the Revolving Termination Maturity Date, with the final payment to be made on the Revolving Termination Maturity Date; provided that, in -------- connection with any reduction or termination of the Commitments under Section 2.05, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection Section shall accrue at all times after the above-above- mentioned commencement date, including at any time during which one or more conditions in Article V Section 5 are not met.

Appears in 1 contract

Sources: Credit Agreement (U S Rentals Inc)

Commitment Fees. The Company shall pay to the Agent for the account of each Bank a commitment fee equal to on the Applicable Fee Percentage per annum times the actual average daily unused portion of such Bank's Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent, equal to the Applicable Commitment Fee Rate. For purposes of calculating utilization under this subsectionSection, the Commitment Commitments shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations then outstanding. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal calendar year quarter of the Company) commencing on October June 30, 1998 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided PROVIDED that, in connection with any reduction or termination of the Commitments under Section 2.052.05 or Section 2.07, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection Section shall accrue at all times after the above-above- mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Cb Richard Ellis Services Inc)

Commitment Fees. The Company shall pay to the Agent for the account of each Bank a commitment fee equal to the Applicable Fee Percentage per annum times of 0.50% on the actual daily unused portion of such Bank's Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent. For purposes of calculating utilization under this subsection, the Commitment shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding plus the Effective Amount of L/C Obligations then outstanding. Such commitment fee shall accrue from the Closing Bridge Funding Effective Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal calendar quarter commencing on the last day of the Company) commencing on October 30, 1998 first full calendar quarter following the Bridge Funding Effective Date through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments under Section 2.05, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V IV are not met." (1) Subsection 2.09(c) of the Credit Agreement is hereby deleted in its entirety. (2) Section 6 of the Credit Agreement is hereby amended by adding the following as new Section 6.14 thereof:

Appears in 1 contract

Sources: Credit Agreement (Mentor Graphics Corp)

Commitment Fees. The Company shall pay to the Agent for the account of each Bank a commitment fee equal to ("Commitment Fee") on the Applicable Fee Percentage per annum times the actual average daily unused portion of such Bank's Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent, equal to the Applicable Margin per annum. For purposes of calculating utilization under this subsectionSection, the Commitment Commitments shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations then outstanding. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each JanuaryMarch, AprilJune, July September and October (i.e., each fiscal quarter of the Company) commencing on October 30, 1998 December through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided PROVIDED that, in connection with any reduction or termination of the Commitments under Section 2.05, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection Section shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Waterlink Inc)

Commitment Fees. The In addition to certain fees described in Section 3.8, the Company shall pay to the Agent for the account of each Bank a commitment fee equal to (the Applicable Fee Percentage per annum times "Commitment Fee") on the actual average daily unused portion of such Bank's Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent, equal to 0.25% per annum. For purposes of calculating utilization under this subsection, the Total Commitment shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations then outstanding. Such commitment fee Commitment Fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each Januarycalendar quarter, April, July and October (i.e., each fiscal quarter of the Company) commencing on October 30the first such quarterly date to occur after the Closing Date, 1998 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments Total Commitment under Section 2.052.5 or Section 2.7, the accrued commitment fee Commitment Fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees Commitment Fees provided in this subsection shall accrue at all times after during the above-mentioned commencement dateperiod, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Midway Games Inc)

Commitment Fees. The Company shall pay to the Agent for the account of each Bank a commitment fee equal to on the Applicable Fee Percentage per annum times the actual average daily unused portion of such Bank's Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal quarter quarter, equal to the product of (i) the Company based upon Applicable Commitment Fee Rate and (ii) the average daily utilization for that quarter as calculated by the Agentunused portion of such Bank's Commitment during such fiscal quarter. For purposes of calculating utilization under this subsection, the Commitment Commitments shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations then outstanding. Such commitment fee shall accrue from the Closing Effective Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day day of each JanuaryMarch, AprilJune, July September and October (i.e.December, each fiscal quarter of the Company) commencing on October 30December 31, 1998 2000 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments under Section 2.052.04 or Section 2.06, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Sierra Health Services Inc)

Commitment Fees. The Company shall pay to the Agent for the account of each Bank a commitment fee equal to on the Applicable Fee Percentage per annum times the actual average daily unused portion of such Bank's Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent, equal to the percent per annum set forth in Schedule 2.02. For purposes of calculating utilization under this subsection, the Commitment Commitments shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations then outstanding. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal quarter of the Company) commencing on October 30December 31, 1998 1995 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments under Section 2.052.05 or Section 2.07, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Giant Industries Inc)

Commitment Fees. The Company Holdings shall pay to the Agent for the account of each Bank a commitment fee equal to the Applicable Fee Percentage per annum times on the actual daily unused portion of such Bank's Revolving Commitment (the "Available Commitment"), computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the AgentAgent at a rate per annum equal to the Applicable Fee Amount. For purposes of calculating utilization the Available Commitment under this subsectionSection 2.11, the Commitment Revolving Commitments shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations then outstanding (other than L/C Obligations consisting of the aggregate undrawn amount of all Commercial Letters of Credit then outstanding). Swingline Loans shall not constitute utilization. Such commitment fee shall accrue from the Closing Effective Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal calendar quarter of the Company) commencing on October September 30, 1998 through 2001, to the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, that in connection with any reduction or termination of the Commitments under Section 2.05hereunder, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Building Materials Holding Corp)

Commitment Fees. The Company shall pay to the Agent for the account of each Bank Lender a commitment fee equal to ("Commitment Fee") on the Applicable Fee Percentage per annum times the actual average daily unused portion of such Bank▇▇▇▇▇▇'s Revolving Loan Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent, at the Applicable Margin per annum. For purposes of calculating utilization under this subsectionSection, the Revolving Loan Commitment shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations then outstandingoutstanding but excluding for the purposes of calculating utilization under this Section the Effective Amount of Swing Line Loans. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each JanuaryMarch, AprilJune, July September and October (i.e., each fiscal quarter of the Company) commencing on October 30, 1998 December through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments Revolving Loan Commitment under Section 2.05, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection Section shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Century Business Services Inc)

Commitment Fees. The Company shall pay to the Agent for the account of each Bank a commitment fee equal to the Applicable Fee Percentage per annum times on the actual daily unused portion of such Bank's ’s Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent. For purposes of calculating utilization under this subsection, the Commitment shall be deemed used equal to the extent applicable “Commitment Fee” set forth on the pricing grid attached as Annex I in accordance with the parameters for calculation and adjustment of the Effective Amount of Revolving Loans then outstanding plus the Effective Amount of L/C Obligations then outstanding. such Commitment Fee also set forth on Annex I. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal calendar quarter of the Company) commencing on October September 30, 1998 2003 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments under Section 2.05, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V IV are not met.

Appears in 1 contract

Sources: Credit Agreement (Mentor Graphics Corp)

Commitment Fees. The Company shall pay to the Agent for the account of each Bank a commitment fee equal to ("Commitment Fee") on the Applicable Fee Percentage per annum times the actual average daily unused portion of such Bank's Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent, at the Applicable Margin per annum. For purposes of calculating utilization under this subsectionSection, the Commitment Commitments shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations then outstanding. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each JanuaryMarch, AprilJune, July September and October (i.e., each fiscal quarter of the Company) commencing on October 30, 1998 December through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided PROVIDED that, in connection with any reduction or termination of the Commitments under Section 2.05, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection Section shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (International Alliance Services Inc)

Commitment Fees. The Company shall pay to the Agent for the --------------- account of each Bank a commitment fee equal to on the Applicable Fee Percentage per annum times the actual average daily unused portion of such Bank's Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent. For purposes of calculating utilization under this subsection, the Commitment shall be deemed used equal to the extent applicable "Commitment Fee" set forth on the pricing grid attached as Annex I in accordance with the parameters for calculation and adjustment of the Effective Amount of Revolving Loans then outstanding plus the Effective Amount of L/C Obligations then outstanding. such Commitment Fee also set forth on Annex I. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal calendar quarter of the Company) commencing on October March 30, 1998 2001 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination -------- of the Commitments under Section 2.05, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V IV are not met.

Appears in 1 contract

Sources: Credit Agreement (Mentor Graphics Corp)

Commitment Fees. The Company also shall pay to the Administrative Agent for the account of each Bank a commitment fee equal to (the Applicable Fee Percentage per annum times "Commitment Fee") on the actual average daily unused portion of such Bank's Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Administrative Agent, equal to the applicable percent per annum denominated "Commitment Fee," determined from time to time with reference to the relevant Capitalization Ratio, as set forth on Schedule 2.02 attached hereto. For purposes of calculating utilization under this subsection, the Commitment Commitments shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding plus the Effective Amount of L/C Obligations and Term Loans then outstanding. Such commitment fee shall accrue from the Closing Date to the Revolving Credit Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal calendar quarter of the Company) commencing on October 30December 31, 1998 through the Revolving Termination Date1995, with the final payment to be made on the Revolving Credit Termination Date; provided that, in connection with any reduction or termination of the Commitments under Section 2.052.05 or Section 2.07, the accrued commitment fee Commitment Fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees Commitment Fee provided in this subsection shall accrue at all times from and after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not metdate of this Agreement.

Appears in 1 contract

Sources: Credit Agreement (Weatherford Enterra Inc)

Commitment Fees. The Company shall pay to the Agent for the account of each Bank a commitment fee equal to on the Applicable Fee Percentage per annum times the actual average daily unused portion of such the Bank's Revolving Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent. For purposes Bank, equal to 3/8 of calculating utilization under this subsection, the Commitment shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding plus the Effective Amount of L/C Obligations then outstanding1% per annum. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal calendar quarter of the Company) commencing on October 30December 31, 1998 1995 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments Revolving Commitment under Section 2.05, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V IV are not met.

Appears in 1 contract

Sources: Credit Agreement (Med E America Corp)

Commitment Fees. The Company shall In addition to certain fees described in Section 3.8, the Borrower agrees to pay to the Agent for the ratable account of each Bank a commitment fee equal to on the Applicable Fee Percentage per annum times the actual average daily unused portion of such Bank's Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent, equal to the amount set forth in the next paragraph. For purposes of calculating utilization under this subsectioncalculation of such unused portion of a Bank's Commitment, (i) the making of any Swingline Loans shall not be considered a use of a portion of the Swingline Bank's Commitment, and (ii) each Bank's Commitment shall be deemed considered used on any date to the extent of the Effective Amount its participation on such date in any Letter of Revolving Loans then outstanding plus the Effective Amount of Credit and any L/C Obligations then outstandingAdvance made by it (exclusive of any Swingline Loans). Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on (A) the last Business Day of the period ending on December 31, 1997, (B) on the last Business Day of each Januarycalendar quarter commencing after December 31, April, July 1997 and October (i.e., each fiscal quarter of the CompanyC) commencing on October 30, 1998 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments under Section 2.052.5 or Section 2.7, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Storage Technology Corp)

Commitment Fees. The Company shall pay to the Agent for the account of each Bank a commitment fee equal to the Applicable Fee Percentage per annum times on the actual daily unused portion of such Bank's ’s Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent. For purposes of calculating utilization under this subsection, the Commitment shall be deemed used equal to the extent applicable “Commitment Fee” set forth on the pricing grid attached as Annex I in accordance with the parameters for calculation and adjustment of the Effective Amount of Revolving Loans then outstanding plus the Effective Amount of L/C Obligations then outstanding. such Commitment Fee also set forth on Annex I. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal calendar quarter of the Company) commencing on October June 30, 1998 2005 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments under Section 2.05, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V IV are not met.

Appears in 1 contract

Sources: Credit Agreement (Mentor Graphics Corp)

Commitment Fees. The Company shall pay to the Agent for the account of each Bank Lender a commitment fee equal to ("Commitment Fee") on the Applicable Fee Percentage per annum times the actual average daily unused portion of such BankLender's Revolving Loan Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent, at the Applicable Margin per annum. For purposes of calculating utilization under this subsectionSection, the Revolving Loan Commitment shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations then outstandingoutstanding but excluding for the purposes of calculating utilization under this Section the Effective Amount of Swing Line Loans. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each JanuaryMarch, AprilJune, July September and October (i.e., each fiscal quarter of the Company) commencing on October 30, 1998 December through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments Revolving Loan Commitment under Section 2.05, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection Section shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (CBIZ, Inc.)

Commitment Fees. The Company shall pay to the Agent for the account of each Bank a commitment fee equal to on the Applicable Fee Percentage per annum times the actual average daily unused portion of such Bank's Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent, equal to the Commitment Fee Percentage. For purposes of calculating utilization under this subsection, the Aggregate Commitment shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding plus the Effective Amount of L/C Obligations then outstanding. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal calendar quarter of the Company) commencing on October 30, 1998 the first such day after this Agreement is executed by the Company through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Commitments under Section 2.052.5 or Section 2.7, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V IV are not met.

Appears in 1 contract

Sources: Credit Agreement (Crown Pacific Partners L P)

Commitment Fees. The Company shall pay to the Agent for the account of each Bank Lender a commitment fee equal to ("Commitment Fee") on the Applicable Fee Percentage per annum times the actual average daily unused portion of such Bank's Lend▇▇'▇ ▇evolving Loan Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent, at the Applicable Margin per annum. For purposes of calculating utilization under this subsectionSection, the Revolving Loan Commitment shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations then outstanding. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each JanuaryMarch, AprilJune, July September and October (i.e., each fiscal quarter of the Company) commencing on October 30, 1998 December through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided PROVIDED that, in connection with any reduction or termination of the Commitments Revolving Loan Commitment under Section SECTION 2.05, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection Section shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Century Business Services Inc)

Commitment Fees. The Company Borrower shall pay to the Administrative Agent for the account of each Bank a commitment fee equal to the Applicable Fee Percentage per annum times on the actual daily unused portion of such Bank's Revolving Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent. For purposes of calculating utilization under this subsectionAdministrative Agent (Bid Loans and Swingline Loans shall not constitute utilization), equal to such unused portion as so calculated multiplied by the Applicable Commitment shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding plus the Effective Amount of L/C Obligations then outstandingFee Percentage for such period. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal quarter of the Company) commencing on October 30March 31, 1998 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided PROVIDED that, in connection with any reduction or termination of the Revolving Commitments under Section 2.052.8, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection Section shall accrue at all times after the above-mentioned commencement dateClosing Date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Mail Well Inc)

Commitment Fees. The Company shall pay to the Agent for the --------------- account of each Bank a commitment fee equal to on the Applicable Fee Percentage per annum times the actual average daily unused portion of such Bank's Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent, equal to the Applicable Commitment Fee Rate. For purposes of calculating utilization under this subsectionSection, the Commitment Commitments shall be deemed used to the extent of the Effective Amount of Revolving Loans then outstanding outstanding, plus the Effective Amount of L/C Obligations then outstanding. Such commitment fee shall accrue from the Closing Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal calendar year quarter of the Company) commencing on October June 30, 1998 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or -------- termination of the Commitments under Section 2.052.05 or Section 2.07, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection Section shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Cb Richard Ellis Services Inc)

Commitment Fees. The Company shall pay to the Agent for the account of each Bank Revolving Lender a commitment fee equal to on the Applicable Fee Percentage per annum times the actual average daily unused portion of such Bank's Revolving Lender’s Revolving Commitment, computed on a quarterly basis in arrears on the last Business Day of each fiscal calendar quarter of the Company based upon the daily utilization for that quarter as calculated by the Agent, equal to the Applicable Commitment Fee Percentage. For purposes of calculating utilization under this subsection, the Commitment Revolving Commitments shall be deemed used to the extent of the Effective Amount Dollar Equivalent principal amount of Revolving Loans then outstanding (excluding any outstanding Swing Line Loans), plus the Effective Amount Dollar Equivalent principal amount of the Fronted Offshore Currency Loans then outstanding plus the amount of all L/C Obligations then outstanding, subject to adjustment as provided in Section 3.12. Such commitment fee shall accrue from the Closing Effective Date to the Revolving Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each January, April, July and October (i.e., each fiscal calendar quarter of the Company) commencing on October 30December 31, 1998 2010 through the Revolving Termination Date, with the final payment to be made on the Revolving Termination Date; provided that, in connection with any reduction or termination of the Revolving Commitments under Section 2.052.09, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The commitment fees provided in this subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article V are not met.

Appears in 1 contract

Sources: Credit Agreement (Oshkosh Corp)