Commitment Fees. (i) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% per annum on the average daily amount of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled and (C) the last day of the Construction Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3. (ii) On each Monthly Transfer Date occurring on or after the Closing Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% per annum on the average daily amount of the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3 (iii) (A) On each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the month (or a portion thereof) ending on such Monthly Transfer Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3
Appears in 4 contracts
Sources: Financing Agreement (SB Energy, Inc.), Financing Agreement (SB Energy, Inc.), Financing Agreement (SE Global Holdings, LLC)
Commitment Fees. (i) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable The Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% per annum on the average daily amount of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced Revolving Lender in accordance with its Applicable Revolving Percentage, a commitment fee in Dollars equal to the terms hereofApplicable Rate times the actual daily amount by which the Revolving Facility exceeds the sum of (i) the Outstanding Amount of Revolving Loans and (ii) the Outstanding Amount of L/C Obligations (the “Revolving Commitment Fee”). The Revolving Commitment Fee shall accrue at all times during the period from relevant Availability Period, including at any time during which one or more of the conditions in Section 4.02 is not met, and including shall be due and payable quarterly in arrears on the immediately preceding Monthly Transfer Date (or from last Business Day of each March, June, September and including December, commencing with the first such date to occur after the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled and (C) the last day of the Construction Loan Availability PeriodPeriod for the Revolving Facility. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3.
(ii) On each Monthly Transfer Date occurring In addition, commencing on or after the Closing DateJuly 2, 2022, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) Term Lender in accordance with its Applicable Percentage of the Term Facility, a commitment fees fee equal to 0.35% per annum on the average Applicable Rate times the actual daily amount of the Total Tax Equity Bridge Loan aggregate outstanding unfunded Term Commitments on and after July 2, 2022 (the “Term Commitment calculated Fee”). The Term Commitment Fee shall accrue at all times on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer Date (or from after July 2, 2022 and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date ending on which such payment is due, (B) the date on which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan relevant Availability Period. Such commitment fees will , and shall be due and payable monthly quarterly in arrears and may be capitalized pursuant to Section 1.3
(iii) (A) On each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account last Business Day of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annumMarch, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance June, September and December, commencing with the terms hereoffirst such date to occur after July 2, 2022, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the month (or a portion thereof) ending on such Monthly Transfer Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after Availability Period for the Term Conversion Date, the Borrower Facility. The commitment fee shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly calculated quarterly in arrears and (y) with respect to clause (B)if there is any change in the Applicable Rate during any quarter, semiannually the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in arrears and, in each case, may be capitalized pursuant to Section 1.3effect.
Appears in 3 contracts
Sources: Credit Agreement (Morningstar, Inc.), Credit Agreement (Morningstar, Inc.), Credit Agreement (Morningstar, Inc.)
Commitment Fees. (i) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Construction Loan Lender) commitment fees equal to 0.350.375% per annum on the average daily amount of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled and (C) the last day of the Construction Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3.
(ii) On each Monthly Transfer Date occurring on or after the Closing Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Tax Equity Bridge Loan Lender) commitment fees equal to 0.350.375% per annum on the average daily amount of the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3.
(iii) (A) On each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable LC Loan Lender) commitment fees equal to the product of (a) 0.350.375% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the month (or a portion thereof) ending on such Monthly Transfer Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable LC Loan Lender) commitment fees equal to the product of (a) 0.350.375% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3
Appears in 2 contracts
Sources: Financing Agreement (SB Energy, Inc.), Financing Agreement (SE Global Holdings, LLC)
Commitment Fees. (i) On each Monthly Transfer Quarterly Date occurring on or after the Closing Date, the applicable Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% one half of one percent (0.500%) per annum on the average daily actual remaining amount of the Total Max Construction Loan Commitment calculated on an actual 365-day year (the “Construction Loan Commitment Fee”) then applicable, as it may be reduced in accordance with the terms hereof) , calculated on an actual 360-day year during the period from and including the immediately preceding Monthly Transfer Quarterly Date (or from and including the Closing Date in the case of the first Monthly Transfer Quarterly Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Quarterly Date on which such payment is due, (B) the date on which the Total Max Construction Loan Commitment has been fully utilized or cancelled and cancelled, (C) the last day of the Construction Loan Availability Period, and (D) the Initial Funding Longstop Date if the Initial Funding Date has not occurred on or before such date. Such commitment fees will be payable monthly quarterly in arrears and may be capitalized pursuant to Section 1.3.
(ii) On each Monthly Transfer Quarterly Date occurring on or after the Closing Date, the applicable Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% one half of one percent (0.500%) per annum on the average daily actual remaining amount of the Total Max Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (the “Bridge Loan Commitment Fee”) then applicable, as it may be reduced in accordance with the terms hereof) , calculated on an actual 360-day year during the period from and including the immediately preceding Monthly Transfer Quarterly Date (or from and including the Closing Date in the case of the first Monthly Transfer Quarterly Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Quarterly Date on which such payment is due, (B) the date on which the Total Max Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and cancelled, (C) the last day of the Tax Equity Bridge Loan Availability Period, and (D) the Initial Funding Longstop Date if the Initial Funding Date has not occurred on or before such date. Such commitment fees will be payable monthly quarterly in arrears and may be capitalized pursuant to Section 1.3.
(iii) From (A) On the Closing Date to the Term Conversion Date, on each Monthly Transfer Quarterly Date occurring on or after the Closing Date until the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% one half of one percent (0.500%) per annum, times (b) the average daily actual unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount Stated Amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days during the period from and including the immediately preceding Quarterly Date (or from and including the Closing Date in the month (or a portion thereofcase of the first Quarterly Date) and ending on such Monthly Transfer Quarterly Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365 360 and (B) on each Semiannual Quarterly Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% one half of one percent (0.500%) per annum, times (b) the average daily actual unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount Stated Amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days during the period from and including the immediately preceding Quarterly Date (or from and including the Term Conversion Date in the semiannual period (or a portion thereofcase of the first Quarterly Date after the Term Conversion Date) and ending on such Semiannual Quarterly Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365360. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually quarterly in arrears and, in each case, may be capitalized pursuant to Section 1.31.3 (such fee calculated pursuant to clause (A) before the Term Conversion Date and pursuant to clause (B) after the Term Conversion Date, the “LC Commitment Fees”).
(iv) If the Initial Funding Date does not occur on or before the Initial Funding Longstop Date, all commitment fees accrued and payable pursuant to this Section 5.2(b) through the date of such termination shall become immediately due and payable on the Initial Funding Longstop Date.
Appears in 2 contracts
Sources: Financing Agreement (SB Energy, Inc.), Financing Agreement (SE Global Holdings, LLC)
Commitment Fees. (i) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% per annum on the average daily amount of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during During the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) ---------------- the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled of execution and (C) delivery of this Agreement to but excluding the last day of the Construction Revolving Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3.
(ii) On each Monthly Transfer Date occurring on or after the Closing Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each the Lenders ratably in proportion to their Revolving Loan Commitments a commitment fee at the applicable Lenderrate specified below on the daily average amount by which the aggregate amount of the Revolving Loan Commitments exceeds the sum of the Letter of Credit Exposure and the aggregate outstanding principal amount of the Revolving Loans. Such commitment fee shall accrue at the rate of (i) commitment fees equal to 0.350.25% per annum on during any Level I Pricing Period, (ii) 0.30% per annum during any Level II Pricing Period, (iii) 0.375% per annum during any Level III Pricing Period or Level IV Pricing Period or (iv) 0.4375% during any Level V Pricing Period. If the rate at which the commitment fee accrues shall change, the daily average daily amount of referred to above shall be determined separately for the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during periods before and after such change. During the period from and including the immediately preceding Monthly Transfer date of execution and delivery of this Agreement to but excluding the Effective Date (or from and including the Closing Date in the case earlier termination of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3
(iii) (A) On each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion DateCommitments, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) the Lenders ratably in proportion to their Term Commitments a commitment fees equal to fee at the product rate of (a) 0.350.50% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, annum on the amount of any LC Loans their respective Term Commitments. All such commitment fees shall accrue from and including the amount date of any Unreimbursed Obligationsexecution and delivery of this Agreement to but excluding, in each case, then outstanding), times (c) a fractionthe case of the Term Commitments, the numerator Effective Date or earlier termination of which is the number of days Term Commitments, or, in the month (or a portion thereof) ending on such Monthly Transfer Datecase of the Revolving Loan Commitments, including the first day of such period, but excluding the last day of the Revolving Loan Availability Period. Accrued commitment fees under this paragraph shall be calculated by the Agent as of the Effective Date, as of each Quarterly Payment Date and as of the date of termination of the Revolving Loan Commitments in their entirety. The Agent shall make such periodcalculation and notify the Borrower of the amount so calculated within three Domestic Business Days after each date as of which such calculation is so required, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, such fees shall be payable by the Borrower shall pay upon receipt of such notice, except that commitment fees accrued prior to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion Effective Date or any earlier termination of the Maximum LC Commitment (as it may Commitments shall be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending payable on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3date.
Appears in 2 contracts
Sources: Credit Agreement (Brylane Inc), Credit Agreement (Brylane Inc)
Commitment Fees. (i) On each Monthly Transfer Date occurring The Borrowers agree to pay, on or after the Closing Datea joint and several basis, the applicable Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% per annum on the average daily amount of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled and (C) the last day of the Construction Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3.
(ii) On each Monthly Transfer Date occurring on or after the Closing Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% per annum on the average daily amount of the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3
(iiii) (A) On each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Lenders having a Revolving Loan Commitment and (as it may be reduced B) each of the Lenders having an SSI Revolving Loan Commitment, in accordance with such Lender’s applicable Commitment Ratio, a commitment fee on the terms hereofunused Revolving Loan Commitment and SSI Revolving Loan Commitment of such Lender for each day from the effective date of the Assumption Agreement through and including the Maturity Date and (ii) (A) each Lender having a DDTL Commitment and (B) each Lender having an SSI DDTL Commitment in accordance with such Lender’s applicable Commitment Ratio, a commitment fee on the unused DDTL Commitment and which shall exclude, SSI DDTL Commitment of such Lender for each day from the avoidance of doubt, Agreement Date through and including the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed ObligationsDDTL Commitment Termination Date, in each case, then outstandingat the applicable rate set forth below, based upon the Applicable Debt Rating (as such Applicable Debt Rating is determined pursuant to Section 2.4(a)(ii)) in effect on such date as set forth below: A. > BBB or Baa2 0.100% B. BBB or Baa2 0.150% C. BBB- or Baa3 0.225% D. BB+ or Ba1 0.250% E. BB or Ba2 0.300% F. < BB or Ba2 0.375% [Notwithstanding the foregoing, times (c) a fractionthrough and including April 30, 2006, the numerator applicable rate for the commitment fees set forth in this Section 2.4(a)(i) shall be 0.225%.] In addition, on the first payment date for commitment fees following the Combination Date, the payment of which is commitment fees hereunder shall include, without duplication, all commitment fees accrued prior to the Combination Date under the AMT Loan Agreement and the SSI Loan Agreement but unpaid. Such commitment fee shall be computed on the basis of a year of 365/366 days for the actual number of days elapsed, shall be payable quarterly in the month (or a portion thereof) ending arrears on such Monthly Transfer Date, including the first day of such period, but excluding the last day of each fiscal quarter (provided, that if such periodday is not a Business Day, such commitment fee shall be payable on the next succeeding Business Day), and shall be fully earned when due and non-refundable when paid. A final payment of any commitment fee then payable with respect to (A) the denominator of which is 365 Revolving Loan Commitments and SSI Revolving Commitment shall be due and payable on the Maturity Date and (B) the DDTL Commitments and SSI DDTL Commitments shall also be due and payable on each Semiannual the DDTL Commitment Termination Date occurring on or after the Term Conversion and SSI DDTL Commitment Termination Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3applicable.
Appears in 2 contracts
Sources: Loan Agreement (American Tower Corp /Ma/), Loan Agreement (American Tower Corp /Ma/)
Commitment Fees. (i) On Company agrees to pay to Administrative Agent, for distribution to each Monthly Transfer Revolving Lender in proportion to that ▇▇▇▇▇▇'s Pro Rata Share, commitment fees for the period from and including _____________, ____ to and excluding the Closing Date occurring equal to the Revolving Loan Commitment Amount multiplied by ______ of 1% per annum, such commitment fees to be calculated on or the basis of a 360-day year and the actual number of days elapsed and to be payable on the Closing Date. In addition, Company agrees to pay to Administrative Agent, for distribution to each Revolving Lender in proportion to that ▇▇▇▇▇▇'s Pro Rata Share, commitment fees for the period from and including the Closing Date to and excluding the Revolving Loan Commitment Termination Date equal to the average of the daily excess of the Revolving Loan Commitment Amount over the aggregate principal amount of outstanding Revolving Loans multiplied by _____ of 1% per annum, such commitment fees to be calculated on the basis of a 360-day year and the actual number of days elapsed and to be payable quarterly in arrears on [March 15, June 15, September 15 and December 15 of each year], commencing on the first such date to occur after the Closing Date, and on the Revolving Loan Commitment Termination Date. Upon delivery of the Pricing Certificate by Company to Administrative Agent pursuant to subsection 6.1(d), the applicable commitment fee percentage shall automatically be adjusted in accordance with such Pricing Certificate, such adjustment to become effective on the next succeeding Business Day following the receipt by Administrative Agent of such Pricing Certificate; provided that, for the period commencing on the Business Day following the date that is six months after the Closing Date, the applicable Borrower commitment fee percentage shall pay be determined by reference to the Pricing Certificate most recently received by Administrative Agent (for and provided further credit to that if at any time a Pricing Certificate is not delivered at the account of each applicable Lender) commitment fees equal to 0.35% per annum on the average daily amount of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled and (C) the last day of the Construction Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized time required pursuant to Section 1.3.
(ii) On each Monthly Transfer Date occurring on or after subsection 6.1(d), from the Closing Datetime such Pricing Certificate was required to be delivered until delivery of such Pricing Certificate, the Borrower applicable commitment fee percentage shall pay to be the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% per annum on the average daily maximum percentage amount of the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3
(iii) (A) On each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the month (or a portion thereof) ending on such Monthly Transfer Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3set forth above.
Appears in 2 contracts
Sources: Credit Agreement, Credit Agreement
Commitment Fees. (i) On each Monthly Transfer Quarterly Date occurring on or after the Closing Date, the applicable Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% per annum on the average daily amount of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer Quarterly Date (or from and including the Closing Date in the case of the first Monthly Transfer Quarterly Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Quarterly Date on which such payment is due, (B) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled and (C) the last day of the Construction Loan Availability Period. Such commitment fees will be payable monthly quarterly in arrears and may be capitalized pursuant to Section 1.3.
(ii) On each Monthly Transfer Quarterly Date occurring on or after the Closing Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% per annum on the average daily amount of the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer Quarterly Date (or from and including the Closing Date in the case of the first Monthly Transfer Quarterly Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Quarterly Date on which such payment is due, (B) the date on which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly quarterly in arrears and may be capitalized pursuant to Section 1.3.
(iii) (A) On each Monthly Transfer Quarterly Date occurring on or after the Closing Date until the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (aA) 0.35% per annum, times (bB) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (cC) a fraction, the numerator of which is the number of days in the month calendar quarter (or a portion thereof) ending on such Monthly Transfer Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Quarterly Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly quarterly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3.
Appears in 2 contracts
Sources: Financing Agreement (SB Energy, Inc.), Financing Agreement (SE Global Holdings, LLC)
Commitment Fees. (ia) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) Revolving Loan Lender revolving loan commitment fees equal to 0.35% per annum on the average daily amount of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during for the period from May 20, 1997 to and including the immediately preceding Monthly Transfer Revolving Loan Termination Date at a rate per annum equal to 0.375%. Such revolving loan commitment fees shall be computed (or from and including on the Closing Date in the case basis of the first Monthly Transfer Dateactual number of days elapsed in a year composed of 360 days) until on each day and including shall be based on the earliest excess of (Ax) the date immediately preceding aggregate amount of each Revolving Loan Lender's Revolving Loan Commitment for such Monthly Transfer Date on which such payment is due, day over (By) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled and sum of (Ci) the last aggregate unpaid principal balance of such Lender's Revolving Note on such day plus (ii) the aggregate Letter of the Construction Loan Availability PeriodCredit Liabilities as to such Lender for such day. Such Accrued revolving loan commitment fees will shall be payable monthly in arrears on the Quarterly Dates prior to the Revolving Loan Termination Date and may be capitalized pursuant to Section 1.3on the Revolving Loan Termination Date.
(iib) On each Monthly Transfer Date occurring on or after the Closing Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) Advance Loan Lender advance loan commitment fees equal to 0.35% per annum on the average daily amount of the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during for the period from May 20, 1997 to and including the immediately preceding Monthly Transfer Advance Loan Termination Date at a rate per annum equal to 0.25%. Such advance loan commitment fees shall be computed (or from and including on the Closing Date in the case basis of the first Monthly Transfer Dateactual number of days elapsed in a year composed of 360 days) until on each day and including shall be based on the earliest excess of (Ax) the date immediately preceding aggregate amount of each Advance Loan Lender's Advance Loan Commitment for such Monthly Transfer Date on which such payment is due, day over (By) the date aggregate unpaid principal balance of such Lender's Advance Notes on which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Periodsuch day. Such Accrued advance loan commitment fees will shall be payable monthly in arrears on the Quarterly Dates prior to the Advance Loan Termination Date and may be capitalized pursuant to Section 1.3on the Advance Loan Termination Date.
(iiic) (A) On Concurrently with each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion DateAdvance Loan made prior to November 20, the 1997, Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees Advance Loan Lender an additional advance loan fee in an amount equal to the product of (a) 0.35Advance Loan made by such Advance Loan Lender times 0.125% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, annum calculated for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is period equal to the number of days in from May 20, 1997 through the month (or a portion thereof) ending on such Monthly Transfer Date, including the first day date of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on Advance Loan. Concurrently with each Semiannual Date occurring Advance Loan made on or after the Term Conversion DateNovember 20, the 1997, Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees Advance Loan Lender an additional advance loan fee in an amount equal to the product of Advance Loan made by such Advance Loan Lender times 0.0625%.
(ad) 0.35% per annum, times (b) All past due fees payable under this Section shall bear interest at the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3Past Due Rate.
Appears in 2 contracts
Sources: Loan Agreement (Carrols Corp), Loan Agreement (Carrols Corp)
Commitment Fees. (i) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable 9.12.1 The Borrower shall pay to the Administrative Agent (Agent, for further credit to the account of each applicable Lender) , a commitment fees fee from July 1, 2021 until the Facility A Maturity Date calculated on a daily basis on the amount of such Lender’s Facility A Available Commitment at the rate per annum equal to 0.35% per annum the Applicable Margin with respect to the calculation of the commitment fee in effect from time to time during the period for which such payment is made, payable in arrears on the average daily first day of the calendar month immediately following the last day of each fiscal quarter of the Borrower, and if such day is not a Banking Day, then on the next following Banking Day, commencing on October 1, 2021, and also on the Facility A Maturity Date. For the purpose of this Section 9.12.1, each Lender’s Facility A Available Commitment means at any time such Lender’s Facility A Commitment at such time less its Facility A Participation in the amount of the Total Construction Facility A Loan Commitment calculated on an actual 365-day year in CDollars, less the Swingline Loan (as it may be reduced in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer DateSwingline Lender) until in CDollars at such time, less its Facility A Participation in the Equivalent Amount in CDollars of the Facility A Loan in USDollars at such time and including less the earliest Equivalent Amount in CDollars of the Swingline Loan in USDollars (A) in the date immediately preceding such Monthly Transfer Date on which such payment is duecase of the Swingline Lender). For the purposes of this Section 9.12.1, (B) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled and (C) the last Equivalent Amount in CDollars to be determined for any day of a month comprised in any calculation period shall be deemed to be the Construction Loan Availability Periodrate for the purchase of the relevant currency quoted or published or otherwise made available by the Bank of Canada at 4:30 p.m. on the first Business Day in such month. Such commitment fees will be fee is payable monthly in arrears and may be capitalized pursuant to Section 1.3CDollars.
(ii) On each Monthly Transfer Date occurring on or after the Closing Date, the 9.12.2 The Borrower shall pay to the Administrative Agent (Agent, for further credit to the account of each applicable Lender) , a commitment fees fee from July 1, 2021 until the Facility C Maturity Date calculated on a daily basis on the amount of such Lender’s Facility C Available Commitment at the rate per annum equal to 0.35% per annum on the average daily amount Applicable Margin with respect to the calculation of the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced commitment fee in accordance with the terms hereof) effect from time to time during the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on for which such payment is duemade, (B) payable in arrears on the date on which first day of the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) calendar month immediately following the last day of each fiscal quarter of the Tax Equity Bridge Loan Availability PeriodBorrower, and if such day is not a Banking Day, then on the next following Banking Day, commencing on October 1, 2021, and also on the Facility C Maturity Date. Such commitment fees will be payable monthly For the purpose of this Section 9.12.29.12.2, each Lender’s Facility C Available Commitment means at any time such L▇▇▇▇▇’s Facility C Commitment at such time less its Facility C Participation in arrears and may be capitalized pursuant to Section 1.3the amount of the Facility C Loan.
(iii) (A) On each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion Date, the 9.12.3 The Borrower shall pay to the Administrative Agent (Agent, for further credit to the account of each applicable Lender) , a commitment fees fee from July 1, 2021 until the Facility D Maturity Date calculated on a daily basis on the amount of such Lender’s Facility D Available Commitment at the rate per annum equal to the product of (a) 0.35% per annum, times (b) Applicable Margin with respect to the average daily unutilized portion calculation of the Maximum LC Commitment (as it may be reduced commitment fee in accordance with effect from time to time during the terms hereofperiod for which such payment is made, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, payable in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the month (or a portion thereof) ending arrears on such Monthly Transfer Date, including the first day of such period, but excluding the calendar month immediately following the last day of such periodeach fiscal quarter of the Borrower, and if such day is not a Banking Day, then on the denominator next following Banking Day, commencing on October 1, 2021, and also on the Facility D Maturity Date. For the purpose of which is 365 and (B) on this Section 9.12.3, each Semiannual Date occurring on or after Lender’s Facility D Available Commitment means at any time such L▇▇▇▇▇’s Facility D Commitment at such time less its Facility D Participation in the Term Conversion Date, amount of the Facility D Loan.
9.12.4 The Borrower shall pay to the Administrative Agent (Agent, for further credit to the account of each applicable Lender) , a commitment fees fee for a period of 12 months from the date of this Agreement calculated on a daily basis on the amount of such L▇▇▇▇▇’s Facility E Available Commitment at the rate per annum equal to the product of (a) 0.35% per annum, times (b) Applicable Margin with respect to the average daily unutilized portion calculation of the Maximum LC Commitment (as it may be reduced commitment fee in accordance with effect from time to time during the terms hereofperiod for which such payment is made, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, payable in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending arrears on such Semiannual Date, including the first day of such period, but excluding the calendar month immediately following the last day of such periodeach fiscal quarter of the Borrower, and if such day is not a Banking Day, then on the denominator next following Banking Day, commencing on October 1, 2021. For the purpose of which is 365. Such this Section 9.12.4, each Lender’s Facility E Available Commitment means at any time such L▇▇▇▇▇’s Facility E Commitment at such time less its Facility E Participation in the amount of the Facility E Loan.
9.12.5 The commitment fees will shall accrue from day to day and be payable calculated on the basis of a year of 365 (xor 366 in a leap year) with respect to clause (A)days for the actual number of days elapsed. Under no circumstances shall any such commitment fee be refundable either in whole or in part, monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3even if no Advance is ever made under the terms hereof.
Appears in 2 contracts
Sources: Credit Agreement (GFL Environmental Inc.), Credit Agreement (GFL Environmental Inc.)
Commitment Fees. (i) On each Monthly Transfer Quarterly Date occurring on or after the Closing Date, the applicable Borrower Borrowers shall pay to the Administrative Agent (for the further credit to the account of each applicable Lender) commitment fees equal to 0.35% [REDACTED] per annum on the average daily amount unutilized portion of the Total Construction Loan Commitment (as it may be reduced from time to time) calculated on an actual 365-day or 366-day, as applicable, year (as it may be reduced in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer Quarterly Date (or from and including the Closing Date date hereof in the case of the first Monthly Transfer Quarterly Date) until and including the earliest earlier of (A) the date immediately preceding such Monthly Transfer Date on which such payment the Total Construction Loan Commitment is due, fully utilized and (B) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled and (C) the last day of the Construction Loan Availability Periodis irrevocably terminated. Such commitment fees will be payable monthly quarterly in arrears and may be capitalized pursuant to Section 1.3.
(ii) On each Monthly Transfer Quarterly Date occurring on or after the Closing Date, the Borrower Borrowers shall pay to the Administrative Agent (for the further credit to the account of each applicable Lender) commitment fees equal to 0.35% [REDACTED] per annum on the average daily amount unutilized portion of the Total Tax Equity Bridge Loan Commitment (as it may be reduced from time to time) calculated on an actual 365-day or 366-day, as applicable, year (as it may be reduced in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer Quarterly Date (or from and including the Closing Date date hereof, in the case of the first Monthly Transfer Quarterly Date) until and including the earliest earlier of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (Bi) the date on which the Total Tax Equity Bridge Loan Commitment has been is fully utilized or cancelled and (Cii) the last day of date on which the Tax Equity Total Bridge Loan Availability PeriodCommitment is irrevocably terminated. Such commitment fees will be payable monthly quarterly in arrears and may be capitalized pursuant to Section 1.3.
(iii) (A) On each Monthly Transfer Quarterly Date occurring on or after the Closing Date until the Term Conversion Date, the Borrower Borrowers shall pay to the Administrative Agent (for the further credit to the account of each applicable LenderPPA LC Issuing Bank) commitment fees a fee equal to the product of (aA) 0.35% [REDACTED] per annum, annum times (bB) (1) the average daily unutilized portion of the Maximum PPA LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, from time to time) less (2) the stated amount of any then-outstanding PPA Letters of Credit and less (3) any LC Loans and Unreimbursed Obligations related to the PPA Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding)as applicable, times (cC) a fraction, the numerator of which is the number of days in the month (or a portion thereof) ending on such Monthly Transfer Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual quarterly period (or a portion thereof) ending on such Semiannual Date), including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly quarterly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3. US-DOCS\169476957.30
(iv) On each Quarterly Date after the Closing Date, the Borrowers shall pay to the Administrative Agent (for the further credit to the account of each applicable DSR LC Issuing Bank based on the Maximum DSR LC Commitment) a fee equal to the product of (A) [REDACTED] per annum times (B) (1) the Maximum DSR LC Commitment (as it may be reduced from time to time) less (2) the stated amount of any then-outstanding DSR Letters of Credit and less (3) any LC Loans and Unreimbursed Obligations related to any DSR Letters of Credit, as applicable, times (C) a fraction, the numerator of which is the number of days in such quarterly period (or a portion thereof), including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable quarterly in arrears and may be capitalized pursuant to Section 1.3.
Appears in 2 contracts
Sources: Financing Agreement (CIM Opportunity Zone Fund, L.P.), Financing Agreement (CIM Opportunity Zone Fund, L.P.)
Commitment Fees. (i) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% one half of one percent (0.500%) per annum on the average daily Total Construction Loan (Max) Commitment then applicable reduced by the principal amount of Construction Loans that have been borrowed since the Closing Date and as the Total Construction Loan (Max) Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) , calculated on an actual 360-day year during the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled and (C) the last day of when the Construction Loan Availability PeriodPeriod expires. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3.
(ii) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% one half of one percent (0.500%) per annum on the average daily Total Bridge Loan (Max) Commitment then applicable reduced by the principal amount of Bridge Loans that have been borrowed since the Closing Date and as the Total Tax Equity Bridge Loan (Max) Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) , calculated on an actual 360-day year during the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day of when the Tax Equity Bridge Loan Availability PeriodPeriod expires. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3.
(iii) (A) On each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% one half of one percent (0.500%) per annum, times (b) the average daily actual unutilized portion of the Maximum LC Commitment (as defined in clause (b) of the definition thereof without regard to the qualification “from and after Term Conversion” set forth therein) (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the month (or a portion thereof) ending on such Monthly Transfer Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365 360 and (B) on each Semiannual Quarterly Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% one half of one percent (0.500%) per annum, times (b) the average daily actual unutilized portion of the Maximum LC Commitment as defined in clause (b) of the definition thereof (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual quarterly period (or a portion thereof) ending on such Semiannual Quarterly Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365360. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually quarterly in arrears and, in each case, may be capitalized pursuant to Section 1.3.
Appears in 2 contracts
Sources: Financing Agreement (SB Energy, Inc.), Financing Agreement (SE Global Holdings, LLC)
Commitment Fees. (i) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% one half of one percent (0.500%) per annum on the average daily amount of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled and (C) the last day of the Construction Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3.
(ii) On each Monthly Transfer Date occurring on or after the Closing Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% one half of one percent (0.500%) per annum on the average daily amount of the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3.
(iii) (A) On each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% one half of one percent (0.500%) per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the month (or a portion thereof) ending on such Monthly Transfer Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% one half of one percent (0.500%) per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3.
Appears in 2 contracts
Sources: Financing Agreement (SB Energy, Inc.), Financing Agreement (SE Global Holdings, LLC)
Commitment Fees. (i) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable The Borrower shall pay to the Administrative Agent (for further credit to the ratable account of each applicable Lender) commitment fees equal to 0.35% per annum Bank with a Revolving Commitment, on the average daily amount last Business Day of each March, June, September and December and on the earlier of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from Maturity Date and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Construction Loan Aggregate Revolving Commitment has shall have been fully utilized or cancelled and terminated in full, an aggregate commitment fee (Cthe "Revolving Commitment Fee") on the last day daily average amount of the Construction Loan Availability PeriodAggregate Available Revolving Commitment equal to 0.500% per annum for any period that the Consolidated Total Leverage Ratio as of the most recent Leverage Ratio Determination Date for such period is greater than or equal to 5.50 to 1.00 and 0.375% per annum for any period that the Consolidated Total Leverage Ratio as of the most recent Leverage Ratio Determination Date for such period is less than 5.50 to 1.00. Such commitment fees will be payable monthly The Revolving Commitment Fee shall begin to accrue on and after the Effective Date and shall cease to accrue on the earlier of the Maturity Date and the date on which the Aggregate Revolving Commitments shall have been terminated in arrears and may be capitalized pursuant to Section 1.3full.
(ii) On each Monthly Transfer Date occurring on or after the Closing Date, the The Borrower shall pay to the Administrative Agent (for further credit to the ratable account of each applicable Lender) commitment fees equal to 0.35% per annum Bank with an Additional Term A Loan Commitment, on the average daily amount last Business Day of each March, June, September and December and on the earlier of the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from Maturity Date and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Tax Equity Bridge Loan Additional Term A Commitments shall have been terminated in full, an aggregate commitment fee (the "Term A Commitment has been fully utilized or cancelled and (CFee") on the last day daily average amount of the Tax Equity Bridge aggregate Additional Term A Loan Availability PeriodCommitments equal to 0.500% per annum. Such commitment fees will be payable monthly The Term A Commitment Fee shall begin to accrue on and after the Effective Date and shall cease to accrue on the earlier of the Maturity Date and the date on which the Additional Term A Loan Commitments shall have been terminated in arrears and may be capitalized pursuant to Section 1.3full.
(iii) (A) On each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion Date, the The Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to Bank with an Incremental Revolving Commitment, on the product last Business Day of (a) 0.35% per annumeach March, times (b) June, September and December and on the average daily unutilized portion earlier of the Maximum LC Maturity Date and the date on which each Incremental Revolving Commitment (as it may be reduced of a Bank shall have been terminated in accordance with the terms hereof, and which shall exclude, for the avoidance of doubtfull, the stated Incremental Commitment Fee for each Incremental Revolving Commitment of such Bank on the daily average amount of any Letters each of Credit, such Bank's aggregate unutilized Incremental Revolving Commitments. Each Incremental Commitment Fee shall begin to accrue on and after the amount date when the related Incremental Revolving Commitment shall have become effective hereunder and shall cease to accrue on the earlier of any LC Loans the Maturity Date and the amount of any Unreimbursed Obligations, date on which such Incremental Revolving Commitment shall have been terminated in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the month (or a portion thereof) ending on such Monthly Transfer Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3full.
Appears in 1 contract
Commitment Fees. (i) On each Monthly Transfer Date occurring on or after the Closing DateEach Borrower, the applicable Borrower shall jointly and severally, agrees to pay to the Administrative Agent (for further credit to the account of each applicable Lender) Revolving Credit Lender a commitment fees fee, which shall accrue at a per annum rate equal to 0.35% per annum the Applicable Margin applicable for the “Commitment Fee Rate” on the average daily amount Unused Revolving Commitment of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) such Lender during the period from and including the immediately preceding Monthly Transfer Effective Date (or from to but excluding the earlier of the date such Revolving Credit Commitment terminates and the Revolving Credit Maturity Date. Accrued commitment fees for this Section 2.11(a) through and including each Quarterly Date shall be payable on the Closing second Business Day following such Quarterly Date in and on the case earlier of the date the Revolving Credit Commitment terminates and the Revolving Credit Maturity Date, commencing on the first Monthly Transfer such date to occur after the Effective Date) until . All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled and (C) first day but excluding the last day of the Construction Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3day).
(ii) On each Monthly Transfer Date occurring on or after the Closing DateEach Borrower, the Borrower shall jointly and severally, agrees to pay to the Administrative Agent (for further credit to the account of each applicable Lender) Fourth Amendment Delayed Draw Term Loan Lender a commitment fees fee, which shall accrue at a per annum rate equal to 0.35(x) from and including the Fourth Amendment Effective Date through July 13, 2026, 0.50%, and (b) thereafter to but excluding the Fourth Amendment DDTL Commitment Termination Date, 1.00% per annum on the average daily amount of the Total Tax Equity Bridge Unused Fourth Amendment Delayed Draw Term Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereofof such Lender. Accrued commitment fees under this Section 2.11(a)(ii) during the period from through and including each Quarterly Date shall be payable in Dollars (calculated as the immediately preceding Monthly Transfer Dollar Equivalent thereof) on the last Business Day of each Fiscal Quarter and on the earlier of Fourth Amendment DDTL Commitment Termination Date (or from and including the Closing Date in the case of Term Loan Maturity Date, commencing on the first Monthly Transfer such date to occur after the Fourth Amendment Effective Date) until and including the earliest of (A) the date immediately preceding . All such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Period. Such commitment fees will shall be computed on the basis of a year of 360 days and shall be payable monthly in arrears and may be capitalized pursuant to Section 1.3
(iii) (A) On each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the actual number of days in the month elapsed (or a portion thereof) ending on such Monthly Transfer Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstandingday), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3.
Appears in 1 contract
Sources: Credit Agreement (Suja Life, Inc.)
Commitment Fees. (i) On the last Banking Day in each Monthly Transfer Date occurring calendar quarter during the Construction Loan Availability Period (where all or any portion of such calendar quarter occurs on or after the Financial Closing Date, the applicable Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% per annum and on the average daily amount of Construction Loan Maturity Date (or, if the Total Construction Loan Commitment calculated is reduced, canceled or expires prior to such date, on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding of such Monthly Transfer Date on which such payment is duereduction, (B) the date on which the Total Construction Loan Commitment has been fully utilized cancellation or cancelled and (C) the last day of the Construction Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3.
(ii) On each Monthly Transfer Date occurring on or after the Closing Dateexpiration), the Borrower shall pay to Administrative Agent, for the Administrative Agent (for further credit to benefit of the account Lenders, accruing from the Financial Closing Date or the first day of each applicable Lender) such quarter, as the case may be, Construction Loan commitment fees equal to 0.35% per annum on (the average daily amount of the Total Tax Equity Bridge “Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereofFees”) during the period from and including the immediately preceding Monthly Transfer Date for such quarter (or from and including the Closing Date in the case of the first Monthly Transfer Dateportion thereof) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3
(iii) (A) On each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees then ending equal to the product of (aA) 0.350.375% per annum, times (bB) the daily average daily unutilized Available Construction Loan Commitment for such quarter (or portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstandingthereof), times (cC) a fraction, the numerator of which is the number of days in the month such quarter (or a portion thereof) ending on such Monthly Transfer Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365 and 360. Such Construction Loan Commitment Fees may be paid out of the proceeds of the Construction Loans or the Equity Bridge Loans, if available.
(Bii) on On the last Banking Day in each Semiannual Date occurring calendar quarter during the Equity Bridge Loan Availability Period (where all or any portion of such calendar quarter occurs on or after the Term Conversion Financial Closing Date) and on the Equity Bridge Loan Maturity Date (or, if the Equity Bridge Loan Commitment is reduced, canceled or expires prior to such date, on the date of such reduction, cancellation or expiration), Borrower shall pay to Administrative Agent, for the Administrative Agent (for further credit to benefit of the account Lenders, accruing from the Financial Closing Date or the first day of each applicable Lender) such quarter, as the case may be, Equity Bridge Loan commitment fees (the “Equity Bridge Loan Commitment Fees”) for such quarter (or portion thereof) then ending equal to the product of (aA) 0.350.375% per annum, times (bB) the daily average daily unutilized Available Equity Bridge Loan Commitment for such quarter (or portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstandingthereof), times (cC) a fraction, the numerator of which is the number of days in the semiannual period such quarter (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365360. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, Equity Bridge Loan Commitment Fees may be capitalized paid out of the Construction Loans or the Equity Bridge Loans, if available.
(iii) If on the Term-Conversion Date the Borrower has elected to maintain any Extended Term Loan Commitment pursuant to Section 1.32.12, on the Initial Repayment Date or, if earlier, on the date additional Term Loans are made pursuant to Section 2.12 (or, if the Extended Term Loan Commitment is canceled or expires prior to such date, on the date of such cancellation or expiration), Borrower shall pay to Administrative Agent, for the benefit of the Lenders, accruing from the Term Conversion Date, commitment fees (the “Extended Term Loan Commitment Fees”) for such period equal to the product of (A) 0.375% times (B) the daily average Total Extended Term Loan Commitment for such period times (C) a fraction, the numerator of which is the number of days in such period and the denominator of which is 360.
Appears in 1 contract
Sources: Financing Agreement (Noble Environmental Power LLC)
Commitment Fees. (i) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable Borrower The Borrowers shall pay to the Administrative Agent (for further credit to the ratable account of each applicable Lender) commitment fees equal to 0.35% per annum Bank with a Commitment, on the average daily amount last Business Day of each March, June, September and December and on the earlier of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from Maturity Date and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Aggregate Commitment shall have been terminated in full, an aggregate commitment fee (the "Commitment Fee") on the daily average amount of the -------------- Aggregate Available Commitment equal to (A) 0.500% per annum for any period prior to the occurrence of a Qualified Issuance that the Consolidated Total Construction Loan Commitment has been fully utilized Leverage Ratio as of the most recent Leverage Ratio Determination Date for such period is greater than or cancelled equal to 4.50 to 1.00 and 0.375% per annum for any period prior to the occurrence of a Qualified Issuance that the Consolidated Total Leverage Ratio as of the most recent Leverage Ratio Determination Date for such period is less than 4.50 to 1.00 and (CB) 0.500% per annum for any period after the last day occurrence of a Qualified Issuance that the Consolidated Total Leverage Ratio as of the Construction Loan Availability Periodmost recent Leverage Ratio Determination Date for such period is greater than or equal to 5.50 to 1.00 and 0.375% per annum for any period after the occurrence of a Qualified Issuance that the Consolidated Total Leverage Ratio as of the most recent Leverage Ratio Determination Date for such period is less than 5.50 to 1.00. Such commitment fees will be payable monthly The Commitment Fee shall begin to accrue on and after the Effective Date and shall cease to accrue on the earlier of the Maturity Date and the date on which the Aggregate Commitments shall have been terminated in arrears and may be capitalized pursuant to Section 1.3full.
(ii) On each Monthly Transfer Date occurring on or after the Closing Date, the Borrower The Borrowers shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% per annum Bank with an Incremental Commitment, on the average daily amount last Business Day of each March, June, September and December and on the earlier of the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from Maturity Date and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which each Incremental Commitment of a Bank shall have been terminated in full, the Total Tax Equity Bridge Loan Incremental Commitment has been fully utilized or cancelled Fee for each Incremental Commitment of such Bank on the daily average amount of each of such Bank's aggregate unutilized Incremental Commitments. Each Incremental Commitment Fee shall begin to accrue on and (C) after the last day date when the related Incremental Commitment shall have become effective hereunder and shall cease to accrue on the earlier of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3
(iii) (A) On each Monthly Transfer Maturity Date occurring on or after the Closing Date until the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, date on which such Incremental Commitment shall have been terminated in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the month (or a portion thereof) ending on such Monthly Transfer Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3full.
Appears in 1 contract
Sources: Credit Agreement (Nexstar Broadcasting of the Wichita Falls LLC)
Commitment Fees. (i) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable Borrower shall Company agrees to pay to the Administrative Agent (Agent, for further credit distribution to the account of each applicable Lender in proportion to that Lender) 's Pro Rata Share, commitment fees equal to 0.35% per annum on the average daily amount of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during for the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in to and excluding the case Revolving Loan Commitment Termination Date equal to (a) the average of the first Monthly Transfer Date) until and including daily excess of the earliest Revolving Loan Commitments over the sum of (Ax) the date immediately preceding such Monthly Transfer Date on which such payment is due, aggregate principal amount of Revolving Loans outstanding plus (By) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled and Letter of Credit Usage, ---- multiplied by (Cb) the last day 1/4 of the Construction Loan Availability Period. Such 1% per annum, such commitment fees will to be ------------- calculated on the basis of a 360-day year and the actual number of days elapsed and to be payable monthly quarterly in arrears on January 31, April 30, July 31 and may be capitalized pursuant October 31 of each year, commencing on the first such date to Section 1.3.
(ii) On each Monthly Transfer Date occurring on or occur after the Closing Date, and on the Borrower Revolving Loan Commitment Termination Date (provided however that such per annum percentage shall pay be -------- ------- increased to the Administrative Agent (for further credit to the account 3/8 of each applicable Lender) commitment fees equal to 0.351% per annum on during any period in which the average daily amount of Leverage Ratio is greater than 4.00:1.00); and
(ii) Company agrees to pay to Agent, with respect to the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced Additional Credit Commitments made under each Additional Credit Facility Supplement, for distribution to each Additional Credit Lender in accordance with the terms hereof) during proportion to that Additional Credit Lender's Pro Rata Share, commitment fees for the period from and including the immediately preceding Monthly Transfer Date (or from and including the applicable Additional Credit Closing Date in to and excluding the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Tax Equity Bridge Revolving Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3
(iii) (A) On each Monthly Transfer Termination Date occurring on or after the Closing Date until the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35the average of the daily excess of the applicable Additional Credit Commitments over the aggregate principal amount of Additional Credit Loans outstanding thereunder, multiplied by (b) 1/4 of 1% per annum, times (b) such commitment fees to ------------- be calculated on the average daily unutilized portion basis of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans a 360-day year and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the actual number of days elapsed and to be payable quarterly in arrears on January 31, April 30, July 31 and October 31 of each year, commencing on the month (or a portion thereof) ending on first such Monthly Transfer date to occur after the applicable Additional Credit Facility Closing Date, including and on the first day Revolving Loan Commitment Termination Date (provided however that such -------- ------- per annum percentage shall be increased to 3/8 of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.351% per annum, times (b) annum during any period in which the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstandingLeverage Ratio is greater than 4.00:1.00), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3.
Appears in 1 contract
Commitment Fees. (ia) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable The Borrower shall agrees to pay to the Administrative Agent (for further credit to the account of each applicable Lender) Lender a commitment fee, which shall accrue at the rate of 0.50% per annum on the daily unused amount of the Available Revolving Credit Commitment of such Lender during the period from and including March 4, 2011 to but excluding the date on which such Commitment terminates. Accrued commitment fees equal shall be payable in arrears on the last day of March, June, September and December of each year and on the date on which the Revolving Credit Commitments terminate, commencing on the last day of June 2011. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(b) The Borrower agrees to 0.35pay (i) to the Administrative Agent for the account of each Lender a participation fee with respect to its participations in Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Eurodollar Revolving Credit Loans on the average daily amount of such Lender’s LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date on which such Lender’s Revolving Credit Commitment terminates and the date on which such Lender ceases to have any LC Exposure, and (ii) to the applicable Issuing Bank a fronting fee, which shall accrue at the rate of 0.25% per annum on the average daily amount of the Total Construction Loan Commitment calculated on an actual 365-day year LC Exposure (as it may be reduced in accordance with the terms hereofexcluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the immediately preceding Monthly Transfer Effective Date (to but excluding the later of the date of termination of the Revolving Credit Commitments and the date on which there ceases to be any LC Exposure, as well as the applicable Issuing Bank’s standard fees with respect to the issuance, amendment, renewal or from extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued through and including the Closing Date in last day of March, June, September and December of each year shall be payable on the case third Business Day following such last day, commencing on the last day of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding June 2011; provided that all such Monthly Transfer Date fees shall be payable on which such payment is due, (B) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled Commitments terminate and any such fees accruing after the date on which the Commitments terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after written demand therefor. All participation fees and fronting fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (C) including the first day but excluding the last day of the Construction Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3day).
(iic) On each Monthly Transfer Date occurring on or after The Borrower agrees to pay to the Closing DateAdministrative Agent, for its own account, fees payable in the amounts and at the times separately agreed upon between the Borrower and the Administrative Agent.
(d) All fees payable hereunder shall pay be paid on the dates due, in immediately available funds, to the Administrative Agent (for further credit or to the account of each applicable Lender) commitment fees equal to 0.35% per annum on the average daily amount of the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date any Issuing Bank, in the case of fees payable to it) for distribution, in the first Monthly Transfer Date) until and including the earliest case of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3
(iii) (A) On each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion Dateparticipation fees, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may Lenders entitled thereto. Fees paid shall not be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of refundable under any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the month (or a portion thereof) ending on such Monthly Transfer Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3circumstances.
Appears in 1 contract
Commitment Fees. Company agrees to pay to Administrative Agent. for distribution to each Revolving Lender in proportion to that Lender's Pro Rata Share, commitment fees for the period from and including the Closing Date to and excluding the Revolving Loan Commitment Termination Date equal to the average of the daily excess of the Revolving Loan Commitments over the sum of the Total Utilization of Revolving Loan Commitments attributable to both Borrower's Revolving Loans multiplied by the per annum commitment fee percentage set forth below opposite the Consolidated Leverage Ratio for the four Fiscal Quarter period for which the applicable Margin Determination Certificate has been delivered pursuant to subsection 6.1 (i) On iv): Consolidated Leverage Commitment Fee Ratio Percentage --------------------- -------------- Greater than or equal to 3.0:1.00 0.50% less than 3.0:1.00 0.45% such commitment fees to be calculated on the basis of a 360-day year and the actual number of days elapsed and to be payable quarterly in arrears on the last Business Day of each Monthly Transfer March, June, September and December of each year, commencing on the first such date to occur after the Closing Date, and on the Revolving Loan Commitment Termination Date; provided, that for the first six months after the Closing Date occurring the applicable commitment fee percentage shall be 0.50%. For purposes of determining the amount of Revolving Loans outstanding to determine the amount of the Commitment Fee, the amount of any Offshore Currency Loan shall be based on or its Dollar Equivalent as of the most recent Computation Date. Upon delivery of the Margin Determination Certificate by Company to Administrative Agent pursuant to subsection 6.1 (iv), the applicable commitment fee percentage shall automatically be adjusted in accordance with such Margin Determination Certificate, such adjustment to become effective on the next succeeding Business Day following the receipt by Administrative Agent of such Margin Determination Certificate; provided that for the period commencing on the Business Day following the date that is six months after the Closing Date, the applicable Borrower commitment fee percentage shall pay be determined by reference to the Margin Determination Certificate most recently received by Administrative Agent (for and provided further credit that in the event that Company fails to the account of each applicable Lender) commitment fees equal to 0.35% per annum on the average daily amount of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced deliver a Margin Determination Certificate timely in accordance with the terms hereof) during provisions of subsection 6.1(iv), from the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) time such Margin Determination Certificate should have been delivered until and including the earliest of (A) the such date immediately preceding as such Monthly Transfer Date on which such payment a Margin Determination Certificate is due, (B) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled and (C) the last day of the Construction Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3.
(ii) On each Monthly Transfer Date occurring on or after the Closing Dateactually delivered, the Borrower applicable commitment fee percentage shall pay to be the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% per annum on the average daily maximum percentage amount of the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3
(iii) (A) On each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% set forth above per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the month (or a portion thereof) ending on such Monthly Transfer Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3.
Appears in 1 contract
Commitment Fees. (i) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable The Borrower shall pay to the Administrative Agent (for further credit to the ratable account of each applicable Lender) commitment fees equal to 0.35% per annum Bank with a Revolving Commitment, on the average daily amount last Business Day of each March, June, September and December and on the earlier of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from Maturity Date and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Aggregate Revolving Commitment shall have been terminated in full, an aggregate commitment fee (the "Revolving Commitment Fee") on the daily average ------------------------ amount of the Aggregate Available Revolving Commitment equal to (A) 0.500% per annum for any period prior to the occurrence of a Qualified Issuance that the Consolidated Total Construction Loan Commitment has been fully utilized Leverage Ratio as of the most recent Leverage Ratio Determination Date for such period is greater than or cancelled equal to 4.50 to 1.00 and 0.375% per annum for any period prior to the occurrence of a Qualified Issuance that the Consolidated Total Leverage Ratio as of the most recent Leverage Ratio Determination Date for such period is less than 4.50 to 1.00 and (CB) 0.500% per annum for any period after the last day occurrence of a Qualified Issuance that the Consolidated Total Leverage Ratio as of the Construction Loan Availability Periodmost recent Leverage Ratio Determination Date for such period is greater than or equal to 5.50 to 1.00 and 0.375% per annum for any period after the occurrence of a Qualified Issuance that the Consolidated Total Leverage Ratio as of the most recent Leverage Ratio Determination Date for such period is less than 5.50 to 1.00. Such commitment fees will be payable monthly The Revolving Commitment Fee shall begin to accrue on and after the Effective Date and shall cease to accrue on the earlier of the Maturity Date and the date on which the Aggregate Revolving Commitments shall have been terminated in arrears and may be capitalized pursuant to Section 1.3full.
(ii) On each Monthly Transfer Date occurring on or after the Closing Date, the The Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% per annum Bank with an Incremental Revolving Commitment, on the average daily amount last Business Day of each March, June, September and December and on the earlier of the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from Maturity Date and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which each Incremental Revolving Commitment of a Bank shall have been terminated in full, the Total Tax Equity Bridge Loan Incremental Commitment has been fully utilized or cancelled Fee for each Incremental Revolving Commitment of such Bank on the daily average amount of each of such Bank's aggregate unutilized Incremental Revolving Commitments. Each Incremental Commitment Fee shall begin to accrue on and (C) after the last day date when the related Incremental Revolving Commitment shall have become effective hereunder and shall cease to accrue on the earlier of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3
(iii) (A) On each Monthly Transfer Maturity Date occurring on or after the Closing Date until the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, date on which such Incremental Revolving Commitment shall have been terminated in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the month (or a portion thereof) ending on such Monthly Transfer Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3full.
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Sources: Credit Agreement (Nexstar Broadcasting of the Wichita Falls LLC)
Commitment Fees. (i) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable Borrower shall agrees to pay to Administrative Agent, for distribution to each Revolving Lender in proportion to that Lender’s Pro Rata Share of the Administrative Agent (for further credit to the account of each applicable Lender) Revolving Loan Commitments, commitment fees equal to 0.35% per annum on the average daily amount of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during for the period from and including the immediately preceding Monthly Transfer Effective Date (or from to and including excluding the Closing Revolving Loan Commitment Termination Date in equal to the case average of the first Monthly Transfer Date) until and including daily excess of the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which Revolving Loan Commitments over the Total Construction Utilization of Revolving Loan Commitments multiplied by the Commitment Fee Percentage, such commitment fees to be calculated on the basis of a 360-day year and the actual number of days elapsed and to be payable quarterly in arrears on the last Business Day of each March, June, September and December of each year commencing on the first such date to occur after the Effective Date, and on the Revolving Loan Commitment has been fully utilized or cancelled and (C) the last day of the Construction Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3Termination Date.
(ii) On each Monthly Transfer Date occurring on or after the Closing Date, the Borrower shall agrees to pay to Administrative Agent, for distribution to each Lender having a Term Loan Commitment in proportion to that Lender’s Pro Rata Share of the Administrative Agent (for further credit to the account of each applicable Lender) Term Loan Commitments, commitment fees equal to 0.35% per annum on the average daily amount of the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during for the period from and including the immediately preceding Monthly Transfer Effective Date (or from to and including excluding the Closing Delayed Draw Term Loan Commitment Termination Date in the case equal to any undrawn portion of the first Monthly Transfer Date) until Term Loan Commitments that is available for borrowing as Delayed Draw Term Loans multiplied by 0.50%, such commitment fees to be calculated on the basis of a 360-day year and including the earliest actual number of (A) days elapsed and to be payable quarterly in arrears on March 31, 2005 and June 30, 2005 and on the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Tax Equity Bridge Delayed Draw Term Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3Termination Date.
(iii) (A) On each Monthly Transfer Date occurring on or after Upon delivery of the Closing Date until the Term Conversion DateMargin Determination Certificate by Borrower to Administrative Agent pursuant to subsection 6.1(xix), the Borrower Commitment Fee Percentage shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may automatically be reduced adjusted in accordance with such Margin Determination Certificate, such adjustment to become effective on the terms hereofnext succeeding Margin Reset Date; provided that (1) at any time a Margin Determination Certificate is not delivered at the time required pursuant to subsection 6.1(xix), from the time such Margin Determination Certificate was required to be delivered until delivery of such Margin Determination Certificate, the Commitment Fee Percentage shall be 0.500%, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c2) if a fraction, the numerator of which is the number of days in the month (or a portion thereof) ending on such Monthly Transfer Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each Margin Determination Certificate erroneously indicates an applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable margin (x) with respect more favorable to clause (A)Borrower than should be afforded by the actual calculation of the Consolidated Total Leverage Ratio, monthly in arrears Borrower shall promptly pay additional commitment fees to correct for such error, and (y) with respect less favorable to clause (B)Borrower than should be afforded by the actual calculation of the Consolidated Total Leverage Ratio, semiannually in arrears and, in each case, may be capitalized pursuant Lenders shall promptly reimburse Borrower an amount equal to Section 1.3such excess commitment fees to correct for such error.
Appears in 1 contract
Commitment Fees. (i) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable Borrower shall Company agrees to pay to the Administrative Agent (Agent, for further credit distribution to the account of each applicable Lender having a Series A Revolving Loan Commitment in proportion to that Lender) 's Pro Rata Share, commitment fees equal to 0.35% per annum on the average daily amount of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during for the period from and including the immediately preceding Monthly Transfer Closing Date to and excluding the Maturity Date equal to the average of the daily excess of the Series A Revolving Loan Commitments over the sum of the aggregate principal amount of outstanding Series A Revolving Loans (or but not any outstanding Swing Line Loans) multiplied by the Applicable Commitment Fee Percentage per annum, such commitment fees to be calculated on the basis of a 360-day year and the actual number of days elapsed and to be payable quarterly in arrears on March 31, June 30, September 30 and December 31 of each year, commencing on the first such date to occur after the Closing Date, and ending on the Maturity Date.
(ii) Company agrees to pay to Administrative Agent, for distribution to each Lender having a Series B Term Loan Commitment in proportion to that Lender's Pro Rata Share, commitment fees for the period from and including the Closing Date in to and excluding the case Maturity Date equal to the average of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled and (C) the last day daily excess of the Construction Series B Term Loan Availability Period. Such Commitments over the sum of the aggregate principal amount of outstanding Series B Term Loans multiplied by the Applicable Commitment Fee Percentage per annum, such commitment fees will to be calculated on the basis of a 360-day year and the actual number of days elapsed and to be payable monthly quarterly in arrears on March 31, June 30, September 30 and may be capitalized pursuant December 31 of each year, commencing on the first such date to Section 1.3.
(ii) On each Monthly Transfer Date occurring on or occur after the Closing Date, and ending on the Borrower shall Maturity Date.
(iii) Company agrees to pay to the Administrative Agent (Agent, for further credit distribution to the account of each applicable Lender having an Incremental Facility Commitment, if any, in proportion to that Lender) 's Pro Rata Share, commitment fees equal to 0.35% per annum on the average daily amount of the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during for the period from and including the immediately preceding Monthly Transfer applicable Incremental Facility Commitment Date (or from to and including excluding the Closing Date in termination date for the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3
(iii) (A) On each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees Incremental Facility Commitments equal to the product average of (a) 0.35% per annumthe daily excess of the Incremental Facility Commitments over the aggregate principal amount of Incremental Loans outstanding, times multiplied by (b) the average daily unutilized portion Applicable Commitment Fee Percentage per annum specified in the Incremental Facility Supplement, such commitment fees to be calculated on the basis of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans a 360-day year and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the actual number of days elapsed and to be payable quarterly in arrears on March 31, June 30, September 30 and December 31 of each year, commencing on the month (or a portion thereof) first such date to occur after the Incremental Facility Commitment Date, and ending on such Monthly Transfer Date, including the first day date of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion termination of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3Incremental Facility Commitments.
Appears in 1 contract
Commitment Fees. (i) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% per annum on the average daily amount of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during During the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) ---------------- the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled of execution and (C) delivery of this Agreement to but excluding the last day of the Construction Revolving Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3.
(ii) On each Monthly Transfer Date occurring on or after the Closing Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each the Lenders ratably in proportion to their Revolving Loan Commitments a commitment fee at the applicable Lenderrate specified below on the daily average amount by which the aggregate amount of the Revolving Loan Commitments exceeds the sum of the Letter of Credit Exposure and the aggregate outstanding principal amount of the Revolving Loans. Such commitment fee shall accrue at the rate of (i) commitment fees equal to 0.350.25% per annum on during any Level I Pricing Period, (ii) 0.375% per annum during any Level II Pricing Period, (iii) 0.4375% per annum during any Level III Pricing Period or (iv) 0.50% at all other times. If the rate at which the commitment fee accrues shall change, the daily average daily amount of referred to above shall be determined separately for the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during periods before and after such change. During the period from and including the immediately preceding Monthly Transfer date of execution and delivery of this Agreement to but excluding the Effective Date (or from and including the Closing Date in the case earlier termination of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3
(iii) (A) On each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion DateCommitments, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) the Lenders ratably in proportion to their Term Commitments a commitment fees equal to fee at the product rate of (a) 0.350.50% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, annum on the amount of any LC Loans their respective Term Commitments. All such commitment fees shall accrue from and including the amount date of any Unreimbursed Obligationsexecution and delivery of this Agreement to but excluding, in each case, then outstanding), times (c) a fractionthe case of the Term Commitments, the numerator Effective Date or earlier termination of which is the number of days Term Commitments, or, in the month (or a portion thereof) ending on such Monthly Transfer Datecase of the Revolving Loan Commitments, including the first day of such period, but excluding the last day of the Revolving Loan Availability Period. Accrued commitment fees under this paragraph shall be calculated by the Agent as of the Effective Date, as of each Quarterly Payment Date and as of the date of termination of the Revolving Loan Commitments in their entirety. The Agent shall make such periodcalculation and notify the Borrower of the amount so calculated within three Domestic Business Days after each date as of which such calculation is so required, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, such fees shall be payable by the Borrower shall pay upon receipt of such notice, except that commitment fees accrued prior to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion Effective Date or any earlier termination of the Maximum LC Commitment (as it may Commitments shall be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending payable on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3date.
Appears in 1 contract
Sources: Credit Agreement (Brylane Inc)
Commitment Fees. Company agrees to pay to Administrative Agent in Dollars, for distribution to each Lender in proportion to that Lender's Pro Rata Share, (i) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% per annum on the average daily amount of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during for the period from and including the immediately preceding Monthly Transfer Closing Date to and excluding the Revolving Loan Commitment Termination Date equal to the average of the daily excess of the Revolving Loan Commitments over the sum of the Dollar Equivalent of (or a) the aggregate principal amount of outstanding Revolving Loans and Swing Line Loans plus (b) the Letter of Credit Usage and ---- (ii) commitment fees for the period from and including the Closing Date in to and excluding the case Merger Date equal to the excess of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Construction Tranche A Term Loan Commitment has been fully utilized or cancelled and (C) over the last day of the Construction Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3.
(ii) On each Monthly Transfer Date occurring on or after the Closing Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% per annum on the average daily aggregate principal amount of the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year outstanding Tranche A Term Loans, in each case, multiplied by (as it may be reduced in accordance with the terms hereofa) during for the period from and including the ------------- Closing Date to and excluding the date on which Administrative Agent receives a Compliance Certificate pursuant to subsection 6.1(iii) for the Fiscal Quarter ended July 31, 2000, 0.50% and (b) thereafter, the appropriate Applicable Commitment Fee Percentage. Such commitment fees shall be calculated on the basis of a 365-day or 366-day year, as the case may be, and the actual number of days elapsed and shall be payable quarterly in arrears on the last Business Day of January, April, July and October of each year, commencing on the first such date to occur after the Closing Date, on the Merger Date and on the Revolving Loan Commitment Termination Date. For purposes of calculating the commitment fees, the aggregate principal amount of the Revolving Sterling Loans (but not any outstanding Swing Line Loans) shall be recalculated in accordance with subsection 2.4D(i) on the last Business Day of each calendar month and on the Funding Date for any Revolving Sterling Loan. Except as provided in the immediately preceding Monthly Transfer Date paragraph, the Applicable Commitment Fee Percentage shall be determined on the first day of the calendar month following the delivery of each Compliance Certificate pursuant to subsection 6.1(iii), commencing with the Compliance Certificate for the Fiscal Quarter ended July 31, 2000, by reference to such Compliance Certificate (or without regard to any subsequent corrections to reflect year-end audit adjustments). The Applicable Commitment Fee Percentage so determined shall apply for the period from and including the Closing Date in the case date of determination to and excluding the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly calendar month following the delivery of the next Compliance Certificate; provided, however, that (1) if the Company fails to -------- ------- deliver any Compliance Certificate in arrears and may be capitalized a timely manner pursuant to Section 1.3
subsection 6.1(iii), or (iii2) (A) On each Monthly Transfer Date occurring on or after upon the Closing Date until occurrence and during the Term Conversion Datecontinuation of any Event of Default, the Borrower shall pay to highest percentage per annum set forth in the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion definition of the Maximum LC Applicable Commitment (as it may be reduced in accordance with the terms hereof, and which Fee Percentage shall exclude, apply for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans period from and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the month (or a portion thereof) ending on such Monthly Transfer Date, including the first day of the calendar month following the date on which such period, but Compliance Certificate was required to be delivered to and excluding the last day date on which Administrative Agent receives such Compliance Certificate or during the continuation of such periodEvent of Default, and as the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it case may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3be.
Appears in 1 contract
Sources: Credit Agreement (Urs Corp /New/)
Commitment Fees. (i) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable Borrower shall Company agrees to pay to the Administrative Agent (Agent, for further credit distribution to the account of each applicable Lender in proportion to that Lender) 's Pro Rata Share, commitment fees equal to 0.35% per annum on the average daily amount of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during for the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in to and excluding the case Revolving Loan Commitment Termination Date equal to (a) the average of the first Monthly Transfer Date) until and including daily excess of the earliest Revolving Loan Commitments over the sum of (Ax) the date immediately preceding such Monthly Transfer Date on which such payment is due, aggregate principal amount of Revolving Loans outstanding PLUS (By) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled and Letter of Credit Usage, MULTIPLIED BY (Cb) the last day 1/4 of the Construction Loan Availability Period. Such 1% per annum, such commitment fees will to be calculated on the basis of a 360-day year and the actual number of days elapsed and to be payable monthly quarterly in arrears on January 31, April 30, July 31 and may be capitalized pursuant October 31 of each year, commencing on the first such date to Section 1.3.
(ii) On each Monthly Transfer Date occurring on or occur after the Closing Date, and on the Borrower Revolving Loan Commitment Termination Date; PROVIDED HOWEVER that from and after the Third Amendment Effective Date, such per annum percentage shall pay to the Administrative Agent (for further credit to the account be 1/2 of each applicable Lender) commitment fees equal to 0.351% per annum on (PROVIDED FURTHER HOWEVER that such per annum percentage shall be decreased to 3/8 of 1% per annum during any period in which the average daily amount of Pricing Leverage Ratio is less than 5.00:1.00); and
(ii) Company agrees to pay to Administrative Agent, with respect to the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced Additional Credit Commitments made under each Additional Credit Facility Supplement, for distribution to each Additional Credit Lender in accordance with the terms hereof) during proportion to that Additional Credit Lender's Pro Rata Share, commitment fees for the period from and including the immediately preceding Monthly Transfer Date (or from and including the applicable Additional Credit Closing Date in to and excluding the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Tax Equity Bridge Revolving Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3
(iii) (A) On each Monthly Transfer Termination Date occurring on or after the Closing Date until the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35the average of the daily excess of the applicable Additional Credit Commitments over the aggregate principal amount of Additional Credit Loans outstanding thereunder, MULTIPLIED BY (b) 1/2 of 1% per annum, times (b) such commitment fees to be calculated on the average daily unutilized portion basis of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans a 360-day year and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the actual number of days elapsed and to be payable quarterly in arrears on January 31, April 30, July 31 and October 31 of each year, commencing on the month (or a portion thereof) ending on first such Monthly Transfer date to occur after the applicable Additional Credit Facility Closing Date, including and on the first day Revolving Loan Commitment Termination Date (PROVIDED HOWEVER that such per annum percentage shall be decreased to 3/8 of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.351% per annum, times (b) annum during any period in which the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstandingPricing Leverage Ratio is less than 5.00:1.00), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3."
Appears in 1 contract
Commitment Fees. (i) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable The Borrower shall agrees to pay to the Administrative Agent (for further credit to the account of each applicable Lender) Delayed Draw Lender a commitment fees equal to 0.35fee, which shall accrue at 2.0% per annum on the average daily amount of the Total Construction Loan unused amount of the Delayed Draw Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) of such Lender during the period from and including the immediately preceding Monthly Transfer Date date of this Agreement to but excluding the Delayed Draw Commitment Termination Date. Additionally, to the extent that the Borrower terminates the Delayed Draw Commitments (in whole or from and including the Closing Date in the case of the first Monthly Transfer Datepart) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled and (C) the last day of the Construction Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3.
(ii2.06(b) On each Monthly Transfer Date occurring on or prior to the date that is 18 months after the Closing DateEffective Date (other than in connection with any refinancing in full of the Loans), concurrently with such termination the Borrower shall pay to the Administrative Agent (Agent, for further credit to the ratable account of each applicable Lender) commitment fees of the Delayed Draw Lenders, a fee equal to 0.35% per annum on the average daily amount present value (discounted at the Treasury Rate) of the Total Tax Equity Bridge Loan fee that would have accrued pursuant to the immediately preceding sentence on such terminated Delayed Draw Commitment calculated on an actual 365-day year (as it may be reduced in accordance with from the terms hereof) during the period from date of such termination through and including the immediately preceding Monthly Transfer Date earlier of (or from and including i) the Closing Date in the case one year anniversary of the first Monthly Transfer Date) until date of such termination and including the earliest of (Aii) the date immediately preceding that is 18 months after the Effective Date if such Monthly Transfer Date Delayed Draw Commitment had not been terminated and remained undrawn during such period. Accrued commitment fees shall be payable in arrears on which the last Business Day of March, June, September and December of each year and on the Delayed Draw Commitment Termination Date, commencing on the first such payment is due, (B) date to occur after the date on which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Periodhereof. Such All commitment fees will shall be computed on the basis of a year of 360 days, unless such computation would exceed the Highest Lawful Rate, in which case such commitment fees shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and shall be payable monthly in arrears and may be capitalized pursuant to Section 1.3
(iii) (A) On each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the actual number of days in the month elapsed (or a portion thereof) ending on such Monthly Transfer Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstandingday), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3.
Appears in 1 contract
Sources: Term Loan Credit Agreement (Northern Oil & Gas, Inc.)
Commitment Fees. (i) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable The Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Revolving Credit Lender (other than a Defaulting Lender) commitment fees equal to 0.35% per annum on the average daily amount of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with its Applicable Revolving Credit Percentage, a commitment fee equal to the terms hereofApplicable Rate times the actual daily amount by which the Revolving Credit Facility exceeds the sum of (i) the Outstanding Amount of Revolving Credit Loans and (ii) the Outstanding Amount of L/C Obligations. For the avoidance of doubt, Swing Line Loans are not deducted from Revolving Credit Facility when calculating the commitment fee under this Section 2.09(a)(i). The commitment fee provided in this clause (i) shall accrue at all times during the period from Availability Period (Revolving), including at any time during which one or more of the conditions in Article IV is not met, and including shall be due and payable in arrears at the immediately preceding Monthly Transfer Date end of each calendar quarter occurring during the Availability Period (or from and including Revolving), commencing with the first such date to occur after the Closing Date in Date, and on the case of the first Monthly Transfer Maturity Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled and (C) the last day of the Construction Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3.
(ii) On each Monthly Transfer Date occurring on or after the Closing Date, the The Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Term Lender (other than a Defaulting Lender) commitment fees equal to 0.35% per annum on the average daily amount of the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with its Applicable Term Percentage, a commitment fee equal to the terms hereofApplicable Rate times the actual daily amount by which the Term Facility exceeds the Total Term Outstandings. The commitment fee provided in this clause (ii) shall accrue at all times during the period from Availability Period (Term), including at any time during which one or more of the conditions in Article IV is not met, and including shall be due and payable in arrears at the immediately preceding Monthly Transfer Date end of each calendar quarter occurring during the Availability Period (or from and including Term), commencing with the first such date to occur after the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3.
(iii) (AThe commitment fees provided under this Section 2.09(a) On each Monthly Transfer Date occurring on or after shall be calculated quarterly in arrears, and if there is any change in the Closing Date until the Term Conversion DateApplicable Rate during any quarter, the Borrower actual daily amount shall pay to be computed and multiplied by the Administrative Agent (Applicable Rate separately for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced period during such quarter that such Applicable Rate was in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the month (or a portion thereof) ending on such Monthly Transfer Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3effect.
Appears in 1 contract
Commitment Fees. (ia) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable The Borrower shall pay to the Administrative Agent Tranche A Lenders a commitment fee (the “Tranche A Commitment Fee”) for further credit the period commencing on the earlier of the date of the Borrower’s acceptance of the Commitment Letter and the Filing Date to the account Termination Date or the earlier date of each applicable Lendertermination of the Tranche A Commitment, computed (on the basis of the actual number of days elapsed over a year of 360 days) commitment fees equal to 0.35% at the rate of three-eighths of one percent (3/8%) per annum on the average daily amount Unused Total Tranche A Commitment. Such Tranche A Commitment Fee, to the extent then accrued, shall be payable (x) monthly, in arrears, on the last calendar day of each month, (y) on the Termination Date and (z) as provided in Section 2.12 hereof, upon any reduction or termination in whole or in part of the Total Construction Loan Tranche A Commitment.
(b) The Borrower shall pay to the Tranche B Lenders a commitment fee (the “Tranche B Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereofFee”) during for the period from and including commencing on the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case earlier of the first Monthly Transfer Date) until date of the Borrower’s acceptance of the Commitment Letter and including the earliest Filing Date to the earlier of (Ai) the date immediately preceding such Monthly Transfer Termination Date on which such payment is due, and (Bii) the date on which the Total Construction Tranche B Loan Commitment has been fully utilized or cancelled and is funded, computed (C) on the last day basis of the Construction Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3.
actual number of days elapsed over a year of 360 days) at the rate of three-eighths of one percent (ii3/8%) On each Monthly Transfer Date occurring on or after the Closing Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% per annum on the average daily amount Total Tranche B Commitment. Such Tranche B Commitment Fee, to the extent then accrued, shall be payable (w) monthly, in arrears, on the last calendar day of the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is dueeach month, (Bx) on the date on which the Total Tax Equity Bridge Tranche B Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3
(iii) (A) On each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion Dateis funded, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the month (or a portion thereof) ending on such Monthly Transfer Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause on the Termination Date and (B)z) as provided in Section 2.12 hereof, semiannually upon any reduction or termination in arrears and, whole or in each case, may be capitalized pursuant to Section 1.3part of the Total Tranche B Commitment.
Appears in 1 contract
Sources: Revolving Credit, Term Loan and Guaranty Agreement (Delphi Corp)
Commitment Fees. (i) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable The Borrower shall agrees to pay to the Administrative Agent (for further credit to the account of each applicable LenderLender and FEC a commitment fee (the “Commitment Fees”) commitment fees equal to 0.35% per annum on the average daily amount unused portion of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during Amount, for the period from commencing on the Effective Date and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled and (C) the last day of the Construction Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3.
(ii) On each Monthly Transfer Date occurring on or after continuing through the Closing Date, as set forth below:
(a) The Commitment Fees payable to the Tranche A Lenders shall be payable by the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% per annum on the average daily amount of the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date and shall be in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3
(iii) (A) On each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees an amount equal to the product of (a) 0.350.045% per annum, times (b) multiplied by the average daily unutilized unused portion of the Maximum LC Tranche A Commitment (as it may be reduced in accordance with Amount, multiplied by the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the actual number of days in elapsed from the month (or a portion thereof) ending on such Monthly Transfer Effective Date to the Closing Date, including divided by 360. The Commitment Fees payable to the first day of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, Tranche B Lenders shall be payable by the Borrower on the Closing Date and shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees be in an amount equal to the product of a rate per annum equal to one half of the LIBO Applicable Margin in effect from time to time, multiplied by the daily unused portion of the Tranche B Commitment Amount, multiplied by the actual number of days elapsed from the Effective Date to the Closing Date, divided by 360. Each payment of Commitment Fee to the Lenders shall be allocated by the Administrative Agent on the basis of each Lender’s Percentage of the unused portion of the Commitment Amount for the actual number of days elapsed.
(ab) 0.35The Commitment Fee payable to FEC shall be payable by the Borrower on the Closing Date and shall be in an amount equal to the product of 0.10% per annum, times (b) multiplied by the average daily unutilized unused portion of the Maximum LC Commitment (as it may be reduced in accordance with Amount, multiplied by the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the actual number of days in elapsed from the semiannual period (or a portion thereof) ending on such Semiannual Effective Date to the Closing Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3divided by 360.
Appears in 1 contract
Commitment Fees. (i) The Borrower agrees to pay to the Agent, for the benefit of the Banks in proportion to their respective Pro Rata Shares, commitment fees for the period from and including the Closing Date to and excluding the Revolving Loan Commitment Termination Date, equal to the average of the daily excess of the Revolving Loan Commitments, as the same may have been reduced pursuant to Section 2.4C hereof, over the aggregate principal amount of Revolving Loans outstanding plus the Letter of Credit Usage multiplied by the Applicable Commitment Fee Percentage. All commitment fees under this Section 2.3B shall be calculated on the basis of a 360-day year and the actual number of days elapsed and shall be payable quarterly in arrears in accordance with the invoices therefor submitted by the Agent to the Borrower. Any reductions in the amounts available for borrowing under the Revolving Loan Commitments arising from the operation of the limitation set forth in the second paragraph of Section 2.1A hereof shall not constitute usages of Revolving Loan Commitments for purposes of this Section 2.3B and shall not reduce the amount of the commitment fees payable by the Borrower under this Section 2.3B. On each Monthly Transfer Date occurring on or Pricing Level Calculation Date, commencing with the first such date to occur after the Closing Date, the applicable Borrower Applicable Commitment Fee Percentage in effect for the Pricing Period commencing on the day immediately succeeding such Pricing Level Calculation Date, and continuing for the term of the Pricing Period that begins on the day immediately succeeding such Pricing Level Calculation Date shall pay be the Applicable Commitment Fee Percentage corresponding to the Administrative Agent (Pricing Level in effect for further credit to the account of each applicable Lender) commitment fees equal to 0.35such Pricing Period, as follows: Applicable Commitment Pricing Level Fee Percentage ------------- -------------- Pricing Level I .125% per annum on the average daily amount of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled and (C) the last day of the Construction Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3.
(ii) On each Monthly Transfer Date occurring on or after the Closing Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35Pricing Level II .15% per annum on the average daily amount of the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3
(iii) (A) On each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35Pricing Level III .175% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the month (or a portion thereof) ending on such Monthly Transfer Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3Pricing Level IV .20%
Appears in 1 contract
Sources: Loan Agreement (Regal Cinemas Inc)
Commitment Fees. (ia) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) Revolving Loan Lender revolving loan commitment fees equal to 0.35% per annum on the average daily amount of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during for the period from the Effective Date to and including the immediately preceding Monthly Transfer Revolving Loan Termination Date at a rate per annum equal 0.20%. Such revolving loan commitment fees shall be computed (on the basis of the actual number of days elapsed in a year composed of 365 or from and including the Closing Date in 366 days, as the case of may be) on each day and shall be based on the first Monthly Transfer Date) until and including the earliest excess of (Ax) the date immediately preceding aggregate amount of each Revolving Loan Lender's Revolving Loan Commitment for such Monthly Transfer Date on which such payment is due, day over (By) the date aggregate unpaid principal balance of such Lender's Revolving Note on which the Total Construction Loan Commitment has been fully utilized or cancelled and (C) the last day of the Construction Loan Availability Periodsuch day. Such Accrued revolving loan commitment fees will under this provision shall be payable monthly in arrears on the Quarterly Dates prior to the Revolving Loan Termination Date and may be capitalized pursuant to Section 1.3on the Revolving Loan Termination Date.
(iib) On each Monthly Transfer Date occurring on or after the Closing Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) Short Term Revolving Loan Lender revolving loan commitment fees equal to 0.35% per annum on the average daily amount of the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during for the period from the Effective Date to and including the immediately preceding Monthly Transfer Short Term Revolving Loan Termination Date at a rate per annum equal 0.20%. Such revolving loan commitment fees shall be computed (on the basis of the actual number of days elapsed in a year composed of 365 or from and including the Closing Date in 366 days, as the case of may be) on each day and shall be based on the first Monthly Transfer Date) until and including the earliest excess of (Ax) the date immediately preceding aggregate amount of each Short Term Revolving Loan Lender's Short Term Revolving Loan Commitment for such Monthly Transfer Date on which such payment is due, day over (By) the date aggregate unpaid principal balance of such Lender's Short Term Revolving Note on which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Periodsuch day. Such Accrued revolving loan commitment fees will under this provision shall be payable monthly in arrears and may be capitalized pursuant to Section 1.3
(iii) (A) On each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion Date, the Borrower shall pay Quarterly Dates prior to the Administrative Agent (for further credit to Short Term Revolving Loan Termination Date and on the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times Short Term Revolving Loan Termination Date.
(c) a fraction, All past due fees payable under this Section shall bear interest at the numerator of which is the number of days in the month (or a portion thereof) ending on such Monthly Transfer Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3Past Due Rate.
Appears in 1 contract
Commitment Fees. (i) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable Borrower shall The Borrowers jointly and severally agree to pay to the Administrative Agent Agent, for the accounts of the Lenders, in accordance with their respective Commitment Percentages, a commitment fee (for further credit to the account of each applicable Lender"Commitment Fee") commitment fees equal to 0.35% calculated as the Applicable Commitment Fee Percentage per annum on of the average daily amount, if any, during each three-month period (or portion thereof) ending on the payment dates referred to below to the Final Maturity Date by which the aggregate Outstanding amount of the Total Construction Loan Revolving Credit Loans during such period (or portion thereof) PLUS the sum of the Maximum Drawing Amount and all Unpaid Reimbursement Obligations is less than the Revolving Credit Commitment calculated Amount. The "Applicable Commitment Fee Percentage" shall mean that percentage determined on an actual 365-day year each Adjustment Date to be the applicable rate per annum set forth in the table below opposite the level of the Cash Flow Leverage Ratio determined for the applicable fiscal period of four consecutive Fiscal Quarters, treated as a single accounting period (as it may be reduced in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date referred to in the case definition of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date Cash Flow Leverage Ratio), ending on which such payment is due, (B) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled and (C) the last day of the Construction Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant Fiscal Quarter that ended immediately prior to Section 1.3.
(ii) On each Monthly Transfer Date occurring on or after the Closing Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% per annum on the average daily amount of the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer such Adjustment Date (or from and including the Closing "Quarter End Date"). The Applicable Commitment Fee Percentage that is so determined on each such Adjustment Date in the case shall be effective as of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately following the preceding such Monthly Transfer Quarter End Date on which such payment is due(i.e., (B) the date on which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day as of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3
(iii) (A) On each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the month (or a portion thereof) ending on such Monthly Transfer Date, including the first day of the Fiscal Quarter immediately following such period, but excluding Quarter End Date) and shall continue to be effective through the last day of such period, and the denominator of which is 365 and (Bnext Quarter End Date.
A.) on each Semiannual Date occurring on LEVERAGE RATIO ---------------------------------------------------------------- Less than 2.25 to 1 0.50% ---------------------------------------------------------------- Greater than or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.352:25 0.50% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, to 1 but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect less than 2.50 to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.31
Appears in 1 contract
Sources: Revolving Credit and Term Loan Agreement (Mortons Restaurant Group Inc)
Commitment Fees. (i) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable The Borrower shall pay to the Administrative Agent (for further credit to the ratable account of each applicable Lender) commitment fees equal to 0.35% per annum Bank with a Revolving Commitment, on the average daily amount last Business Day of each March, June, September and December and on the earlier of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from Maturity Date and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Construction Loan Aggregate Revolving Commitment has shall have been fully utilized or cancelled and terminated in full, an aggregate commitment fee (Cthe "Revolving Commitment Fee") on the last day daily average ------------------------ amount of the Construction Loan Availability PeriodAggregate Available Revolving Commitment equal to 0.500% per annum for any period that the Consolidated Total Leverage Ratio as of the most recent Leverage Ratio Determination Date for such period is greater than or equal to 5.50 to 1.00 and 0.375% per annum for any period that the Consolidated Total Leverage Ratio as of the most recent Leverage Ratio Determination Date for such period is less than 5.50 to 1.00. Such commitment fees will be payable monthly The Revolving Commitment Fee shall begin to accrue on and after the Effective Date and shall cease to accrue on the earlier of the Maturity Date and the date on which the Aggregate Revolving Commitments shall have been terminated in arrears and may be capitalized pursuant to Section 1.3full.
(ii) On each Monthly Transfer Date occurring on or after the Closing Date, the The Borrower shall pay to the Administrative Agent (for further credit to the ratable account of each applicable Lender) commitment fees equal to 0.35% per annum Bank with an Additional Term A Loan Commitment, on the average daily amount last Business Day of each March, June, September and December and on the earlier of the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from Maturity Date and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Tax Equity Bridge Loan Additional Term A Commitments shall have been terminated in full, an aggregate commitment fee (the "Term A Commitment has been fully utilized or cancelled and (CFee") on the last day --------------------- daily average amount of the Tax Equity Bridge aggregate Additional Term A Loan Availability PeriodCommitments equal to 0.500% per annum. Such commitment fees will be payable monthly The Term A Commitment Fee shall begin to accrue on and after the Effective Date and shall cease to accrue on the earlier of the Maturity Date and the date on which the Additional Term A Loan Commitments shall have been terminated in arrears and may be capitalized pursuant to Section 1.3full.
(iii) (A) On each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion Date, the The Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to Bank with an Incremental Revolving Commitment, on the product last Business Day of (a) 0.35% per annumeach March, times (b) June, September and December and on the average daily unutilized portion earlier of the Maximum LC Maturity Date and the date on which each Incremental Revolving Commitment (as it may be reduced of a Bank shall have been terminated in accordance with the terms hereof, and which shall exclude, for the avoidance of doubtfull, the stated Incremental Commitment Fee for each Incremental Revolving Commitment of such Bank on the daily average amount of any Letters each of Credit, such Bank's aggregate unutilized Incremental Revolving Commitments. Each Incremental Commitment Fee shall begin to accrue on and after the amount date when the related Incremental Revolving Commitment shall have become effective hereunder and shall cease to accrue on the earlier of any LC Loans the Maturity Date and the amount of any Unreimbursed Obligations, date on which such Incremental Revolving Commitment shall have been terminated in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the month (or a portion thereof) ending on such Monthly Transfer Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3full.
Appears in 1 contract
Commitment Fees. (a) The Parent will pay or procure there is paid to the Facility Agent for the account of the Revolving Banks a commitment fee on the Revolving Facility from the date of this Agreement which will:-
(i) On each Monthly Transfer Date occurring be computed at the rate of 0.75 per cent. per annum or 50 per cent of the Margin (whichever is the lower) on the daily, undrawn, uncancelled amount of the total Revolving Commitments; and
(ii) be payable quarterly in arrears and on the Revolving Facility Repayment Date.
(b) The Parent will pay or after the Closing Date, the applicable Borrower shall pay procure there is paid to the Administrative Facility Agent (for further credit to the account of each applicable Lender) the Tranche A Banks a commitment fees equal to 0.35fee on the Tranche A Term Facility from the date of this Agreement which will be computed at the rate of 0.5% per cent. per annum on the average daily daily, undrawn amount of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from total Tranche A Commitments, and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled and (C) the last day of the Construction Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3on the Completion Date.
(iic) On each Monthly Transfer Date occurring on The Parent will pay or after the Closing Date, the Borrower shall pay procure there is paid to the Administrative Facility Agent (for further credit to the account of each applicable Lender) the Tranche B Banks a commitment fees equal to 0.35fee on the Tranche B Term Facility from the date of this Agreement which will be computed at the rate of 0.5% per cent. per annum on the average daily daily, undrawn amount of the Total Tax Equity Bridge Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during the period from total Tranche B Commitments, and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3on the Completion Date.
(iiid) (A) On each Monthly Transfer Date occurring on The Parent will pay or after the Closing Date until the Term Conversion Date, the Borrower shall pay procure there is paid to the Administrative Facility Agent (for further credit to the account of each applicable Lenderthe Tranche C Banks a commitment fee on the Tranche C Term Facility from the date of this Agreement which will be computed at the rate of 0.5% per cent. per annum on the daily, undrawn amount of the total Tranche C Commitments, and will be payable on the Completion Date.
(e) The commitment fees equal payable under this Clause 10.1 (Commitment Fees) will each accrue from day to day and will be calculated on the product basis of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans a 365 day year and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the actual number of days in the month (or a portion thereof) ending on such Monthly Transfer Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3elapsed.
Appears in 1 contract
Sources: Credit Facilities Agreement (Lucite International Group Holdings LTD)
Commitment Fees. (i) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable Borrower shall agrees to pay to the Administrative Agent (for further credit to the account of each Revolving Credit Lender a commitment fee, which shall accrue at the Applicable Margin applicable Lender) commitment fees equal to 0.35% per annum for the “Revolver Commitment Fee Rate” on the average daily amount Unused Revolving Commitment of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) such Lender during the period from and including the immediately preceding Monthly Transfer Effective Date (or from to but excluding the earlier of the date such Revolving Credit Commitment terminates and the Revolving Credit Maturity Date. Accrued commitment fees for this Section 2.11(a)(i) through and including each Quarterly Date shall be payable on the Closing second Business Day following such Quarterly Date in and on the case earlier of the date the Revolving Credit Commitment terminates and the Revolving Credit Maturity Date, commencing on the first Monthly Transfer such date to occur after the Effective Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled and (C) the last day of the Construction Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3.
(ii) On each Monthly Transfer Date occurring on or after the Closing Date, the Borrower shall agrees to pay to the Administrative Agent (for further credit to the account of each Delayed Draw Term Loan Lender a commitment fee, which shall accrue at the Applicable Margin applicable Lender) commitment fees for the “Delayed Draw Term Loan Commitment Fee Rate” on the daily amount equal to 0.35% per annum on the average daily result of (i) such Delayed Draw Term Loan Lender’s Delayed Draw Term Loan Commitment minus (ii) the aggregate amount of the Total Tax Equity Bridge Delayed Draw Term Loans advanced through such date under such Delayed Draw Term Loan Commitment calculated on an actual 365-day year (as it may be reduced in accordance with the terms hereof) Commitment, for each date during the period from and including the immediately preceding Monthly Transfer Effective Date (or from through the Conversion Date. Accrued commitment for this Section 2.11(a)(ii) fees through and including the Closing each Quarterly Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Period. Such commitment fees will shall be payable monthly in arrears on the second Business Day following such Quarterly Date and may be capitalized pursuant to Section 1.3
(iii) (A) On each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion Date, commencing on the Borrower shall pay first such date to occur after the Administrative Agent (for further credit to the account of each applicable Lender) Effective Date. All commitment fees equal to shall be computed on the product basis of (a) 0.35% per annuma year of 365 or 366 days, times (b) as the average daily unutilized portion of the Maximum LC Commitment (as it case may be reduced in accordance with the terms hereofbe, and which shall exclude, be payable for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the actual number of days in the month elapsed (or a portion thereof) ending on such Monthly Transfer Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstandingday), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3.
Appears in 1 contract
Sources: Credit Agreement (Wayne Farms, Inc.)
Commitment Fees. (i) On each Monthly Transfer Date occurring on or after the Closing Date, the applicable 11.2.1 The Borrower shall pay to the Administrative Agent Lending Banks a commitment fee at the rate of zero point two five per centum (for further credit to the account of each applicable Lender0.25%) commitment fees equal to 0.35% per annum on the average daily amount account of the Total Construction Loan Available Ringgit Advances Commitment calculated based on an actual 365-day year (the drawdown schedule for the TL I Facility and ending on the Commitment Termination Date. Such drawdown schedules shall be agreed upon by the Facility Agent and the Borrower on or before the execution of this Agreement and shall be annexed hereto as it may Schedule 10. The Ringgit Advances commitment fees shall be reduced in accordance with the terms hereof) during the period payable from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer of this Agreement to the earlier of he Commitment Termination Date on which such payment is due, (B) or the date on which the Total Construction Loan Available Ringgit Advances Commitment has been fully utilized or cancelled and (C) the last day of the Construction Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3first equals zero.
(ii) On each Monthly Transfer Date occurring on or after the Closing Date, the 11.2.2 The Borrower shall pay to the Administrative Agent Funding Lender a commitment fee at the rate of zero point two five per centum (for further credit to the account of each applicable Lender0.25%) commitment fees equal to 0.35% per annum on the average daily amount account of the Total Tax Equity Bridge Loan Available Dollar Advances Commitment calculated based on an actual 365-day year (the drawdown schedule for the Dollar Advances Facility and ending on the Commitment Termination Date. Such drawdown schedule shall be agreed upon by the Facility Agent and the Borrower on or before the execution of this Agreement and shall be annexed hereto as it may Schedule 10. The Dollar Advances commitment fee shall be reduced in accordance with payable from the terms hereof) during date of this Agreement to the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case earlier of the first Monthly Transfer Date) until and including the earliest of (A) the date immediately preceding such Monthly Transfer Commitment Termination Date on which such payment is due, (B) or the date on which the Total Tax Equity Bridge Loan Available Dollar Advances Commitment has been fully utilized or cancelled and (C) the last day of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3first equals zero.
(iii) (A) On each Monthly Transfer Date occurring on or after the Closing Date until the Term Conversion Date, the 11.2.3 The Borrower shall pay to the Administrative Agent Funding Lender a commitment fee at the rate of zero point two five per centum (for further credit 0.25%) per annum on the Available Dollar RC Commitment from day to day during the account period beginning on the date of each applicable Lender) this Agreement and ending on the Commitment Termination Date. The Dollar RC commitment fees equal to fee shall be payable from the product date of (a) 0.35% per annum, times (b) this Agreement and on the average daily unutilized portion earlier of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans Termination Date and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, date on which the numerator of which is the number of days in the month (or a portion thereof) ending on such Monthly Transfer Date, including the Available RC Commitment first day of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3equals zero.
Appears in 1 contract
Sources: Facilities Agreement (Hadco Corp)
Commitment Fees. The Parent shall pay, or procure that there is paid, to the Agent: Back to Contents
(ia) On each Monthly Transfer Date occurring on or after the Closing First Drawdown Date, on 30 September 1999 and on the applicable Borrower shall pay to last day of the Administrative Agent Term Loan Facility Commitment Period in respect of the Term Loan Facilities (other than the Termed Out Revolving Facility) for further credit to the account of each applicable Lenderthe Banks (pro rata their relevant Commitments) commitment fees equal commission computed from the date of this Agreement until and including the last day of the Term Loan Facility Commitment Period at the rate, from the date of this Agreement to 0.35% and including the Acquisition Completion Date, of 0.25 per cent. per annum and, thereafter until and including the last day of the Term Loan Facility Commitment Period, of 0.50 per cent. per annum, on the average daily amount of the Total Construction Loan Commitment calculated on an actual 365-day year (as it may be reduced Commitments in accordance with the terms hereof) during the period from and including the immediately preceding Monthly Transfer Date (or from and including the Closing Date in the case respect of the first Monthly Transfer DateTerm Loan Facilities (other than the Termed Out Revolving Facility);
(b) on the Effective Date and for the account of the Banks (pro rata their relevant Commitments) commitment commission computed from the date of the Amendment Agreement until and including the earliest of (A) the date immediately preceding such Monthly Transfer Date on which such payment is due, (B) the date on which the Total Construction Loan Commitment has been fully utilized or cancelled and (C) the last day of that Term Loan Facility Commitment Period at the Construction Loan Availability Periodrate of 0.75 per cent. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3.
(ii) On each Monthly Transfer Date occurring on or after the Closing Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to 0.35% per annum on the average daily amount of the Total Tax Equity Bridge Commitments in respect of the Termed Out Revolving Loan Commitment calculated Facility; and
(c) on an actual 365-day year (as it may be reduced in accordance with the terms hereof) during Effective Date and on the period from dates falling on each 31 March, 30 June, 30 September and including 31 December after the immediately preceding Monthly Transfer Effective Date (or from and including on the Closing Termination Date in the case respect of the first Monthly Transfer Date) until and including Revolving Credit Facility , for the earliest account of the Banks (A) pro rata their relevant Commitments), commitment commission computed from the date immediately preceding such Monthly Transfer Date of the Amendment Agreement at the rate of 0.75 per cent. per annum on which such payment is due, (B) the date on daily amount by which the Total Tax Equity Bridge Loan Commitment has been fully utilized or cancelled and (C) the last day Commitments in respect of the Tax Equity Bridge Loan Availability Period. Such commitment fees will be payable monthly in arrears and may be capitalized pursuant to Section 1.3
(iii) (A) On each Monthly Transfer Date occurring on or after Revolving Credit Facility exceeds the Closing Date until the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion aggregate of the Maximum LC Commitment (as it may be reduced in accordance with Revolving Credit Advances and the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any all outstanding Letters of Credit. If any Drawings are outstanding in an Optional Currency, the amount of any LC Loans and such Drawings for the amount purpose of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, calculating commitment commission shall be deemed to be the numerator of which is the number of days in the month (or a portion thereof) ending on such Monthly Transfer Date, including the first day Sterling Amount of such period, but excluding the last day of such period, and the denominator of which is 365 and (B) on each Semiannual Date occurring on or after the Term Conversion Date, the Borrower shall pay to the Administrative Agent (for further credit to the account of each applicable Lender) commitment fees equal to the product of (a) 0.35% per annum, times (b) the average daily unutilized portion of the Maximum LC Commitment (as it may be reduced in accordance with the terms hereof, and which shall exclude, for the avoidance of doubt, the stated amount of any Letters of Credit, the amount of any LC Loans and the amount of any Unreimbursed Obligations, in each case, then outstanding), times (c) a fraction, the numerator of which is the number of days in the semiannual period (or a portion thereof) ending on such Semiannual Date, including the first day of such period, but excluding the last day of such period, and the denominator of which is 365. Such commitment fees will be payable (x) with respect to clause (A), monthly in arrears and (y) with respect to clause (B), semiannually in arrears and, in each case, may be capitalized pursuant to Section 1.3Drawings.
Appears in 1 contract