Commitment Fees. The Borrower agrees to pay (i) to the Administrative Agent for the account of each Facility A Lender a Commitment Fee, at a rate per annum equal to the Applicable Commitment Fee Rate for Facility A, on the daily average of such Facility A Lender’s Unused Commitment for Facility A from the date hereof to and including the Facility A Termination Date, payable in arrears on each Quarterly Payment Date and on the Facility A Termination Date and (ii) to the Administrative Agent for the account of each Facility B Revolver Lender a Commitment Fee, at a rate per annum equal to the Applicable Commitment Fee Rate for Facility B, on the daily average of such Facility B Revolver Lender’s Unused Commitment for Facility B from the date hereof to and including the Facility B Termination Date, payable in arrears on each Quarterly Payment Date and on the Facility B Termination Date. All accrued Commitment Fees with respect to Facility A under this Section 2.07 shall be payable on the effective date of any termination of the obligations of the Facility A Lenders to make Facility A Loans hereunder, and all accrued Commitment Fees with respect to Facility B under this Section 2.07 shall be payable to each Facility B Revolver Lender on the effective date of any termination of its obligations to make Facility B Revolver Loans hereunder. The fees payable under this Section 2.07, once paid, shall not be refundable for any reason.
Appears in 2 contracts
Sources: Credit Agreement (Lennar Corp /New/), Credit Agreement (Lennar Corp /New/)
Commitment Fees. The Borrower agrees to pay (i) to the Administrative Agent for the account of each Facility A Lender a Commitment Feecommitment fee, which shall accrue at a rate per annum equal to the Applicable Commitment Fee Rate for Facility A, Percentage (determined quarterly in accordance with Schedule I) on the average daily average amount of the unused Revolving Commitment of such Facility A Lender’s Unused Lender during the Availability Period; provided, that if such Lender continues to have any Revolving Credit Exposure after the Commitment for Facility A from the date hereof to and including the Facility A Termination Date, then the commitment fee shall continue to accrue on the average daily amount of such Lender’s unused Revolving Commitment from and after the Commitment Termination Date to the date that all of such Lender’s Revolving Credit Exposure has been paid in full; provided further that, as set forth in Section 10.15, no such fee shall be payable for the account of any Defaulting Lender during the applicable Default Period. The Applicable Percentage shall initially be 0.100%, but shall be reset from time to time as provided in the definition of “Applicable Percentage” herein. Accrued commitment fees shall be payable in arrears on the last Business Day of each Quarterly Payment Date fiscal quarter of the Borrower and on the Facility A Termination Date and (ii) to the Administrative Agent for the account of each Facility B Revolver Lender a Commitment Fee, at a rate per annum equal to the Applicable Commitment Fee Rate for Facility B, on the daily average of such Facility B Revolver Lender’s Unused Commitment for Facility B from the date hereof to and including the Facility B Termination Date, payable in arrears on each Quarterly Payment Date and commencing on the Facility B first such date after the Closing Date; provided that any commitment fees accruing after the Commitment Termination Date. All accrued Commitment Fees with respect to Facility A under this Section 2.07 Date shall be payable on the effective date demand. For purposes of any termination of the obligations of the Facility A Lenders to make Facility A Loans hereunder, and all accrued Commitment Fees computing commitment fees with respect to Facility B under this Section 2.07 the Revolving Commitments, the Revolving Commitment of each Lender shall be payable deemed used to each Facility B Revolver the extent of the outstanding Revolving Loans and LC Exposure of such Lender on the effective date of any termination of its obligations to make Facility B Revolver (but outstanding Swingline Loans hereunder. The fees payable under this Section 2.07, once paid, shall not be refundable for any reasondeemed usage of the Revolving Commitment of each Lender).
Appears in 2 contracts
Sources: Revolving Credit Agreement (Watsco Inc), Revolving Credit Agreement (Watsco Inc)
Commitment Fees. The Borrower agrees to pay (i) to the Administrative Agent for the account of each Facility A Lender a Commitment Feecommitment fee, which shall accrue at a rate per annum equal to the Applicable Commitment Fee Rate for Facility A, Percentage (determined quarterly in accordance with Schedule I) on the average daily average amount of the unused Revolving Commitment of such Facility A Lender’s Unused Lender during the Availability Period; provided, that if such Lender continues to have any Revolving Credit Exposure after the Commitment for Facility A from the date hereof to and including the Facility A Termination Date, then the commitment fee shall continue to accrue on the average daily amount of such Lender’s unused Revolving Commitment from and after the Commitment Termination Date to the date that all of such Lender’s Revolving Credit Exposure has been paid in full. The Applicable Percentage shall initially be 0.100%, but shall be reset from time to time as provided in the definition of “Applicable Percentage” herein. Accrued commitment fees shall be payable in arrears on the last Business Day of each Quarterly Payment Date fiscal quarter of the Borrower and on the Facility A Termination Date and (ii) to the Administrative Agent for the account of each Facility B Revolver Lender a Commitment Fee, at a rate per annum equal to the Applicable Commitment Fee Rate for Facility B, on the daily average of such Facility B Revolver Lender’s Unused Commitment for Facility B from the date hereof to and including the Facility B Termination Date, payable in arrears on each Quarterly Payment Date and commencing on the Facility B first such date after the Closing Date; provided that any commitment fees accruing after the Commitment Termination Date. All accrued Commitment Fees with respect to Facility A under this Section 2.07 Date shall be payable on the effective date demand. For purposes of any termination of the obligations of the Facility A Lenders to make Facility A Loans hereunder, and all accrued Commitment Fees computing commitment fees with respect to Facility B under this Section 2.07 the Revolving Commitments, the Revolving Commitment of each Lender shall be payable deemed used to each Facility B Revolver the extent of the outstanding Revolving Loans and LC Exposure of such Lender on the effective date of any termination of its obligations to make Facility B Revolver (but outstanding Swingline Loans hereunder. The fees payable under this Section 2.07, once paid, shall not be refundable for any reasondeemed usage of the Revolving Commitment of each Lender).
Appears in 2 contracts
Sources: Revolving Credit Agreement (Watsco Inc), Revolving Credit Agreement (Watsco Inc)
Commitment Fees. The Borrower IHS agrees to pay (i) to the Administrative Agent for the account of each Facility A Revolving Lender a Commitment Feecommitment fee, which shall accrue at a rate per annum equal to the Applicable Commitment Fee Rate for Facility A, on the average daily average unused amount of each Revolving Commitment of such Facility A Lender’s Unused Commitment for Facility A Lender during the period from the date hereof to and including the Facility A Termination Date, Effective Date to but excluding the date on which such Revolving Commitment terminates. Accrued commitment fees shall be payable in arrears on the date which is three Business Days following the last day of each Quarterly Payment Date February, May, August and November of each year and on the Facility date on which the Revolving Commitments terminate, commencing on the first such date to occur after the date hereof. 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). A Termination Date Revolving Commitment of a Lender shall be deemed to be used to the extent of:
(i) the Dollar Amount of the outstanding Revolving Loans and LC Exposure of such Lender;
(ii) to if such Lender is an Available Currency Lender, the Administrative Agent for the account of each Facility B Revolver Lender a Commitment Fee, at a rate per annum equal to the Applicable Commitment Fee Rate for Facility B, on the daily average Dollar Amount of such Facility B Revolver Lender’s Unused Commitment for Facility B from Available Currency Loans; and
(iii) if such Lender is a Canadian Currency Lender, the date hereof to Dollar Amount of such Lender’s Canadian Currency Loans and including the Facility B Termination Date, payable in arrears on each Quarterly Payment Date and on the Facility B Termination Date. All accrued Commitment Fees with respect to Facility A under this Section 2.07 following shall be payable on disregarded for such purpose: (x) the effective date Swingline Exposure of any termination such Lender, (y) such Lender’s Applicable Percentage of the obligations Available Currency Loans and (z) such Lender’s Applicable Percentage of the Facility A Lenders to make Facility A Loans hereunder, and all accrued Commitment Fees with respect to Facility B under this Section 2.07 shall be payable to each Facility B Revolver Lender on the effective date of any termination of its obligations to make Facility B Revolver Loans hereunder. The fees payable under this Section 2.07, once paid, shall not be refundable for any reasonCanadian Currency Loans.
Appears in 2 contracts
Sources: Credit Agreement (IHS Inc.), Credit Agreement (IHS Inc.)
Commitment Fees. The Borrower Company agrees to pay (i) to the Revolving Loan Administrative Agent for the account of each Facility A Lender Original Revolving Loan Lender, for the period (including any portion thereof when any of its Commitments are suspended by reason of the Borrowers’ inability to satisfy any condition of Article V) commencing on the Closing Date and continuing through the Original Revolving Loan Commitment Termination Date, a Commitment Fee, at a rate per annum commitment fee in an amount equal to the Applicable Commitment Fee Rate for Facility AMargin, in each case on the daily average of such Facility A Lender’s Unused Original Revolving Loan Percentage of the sum of the average daily unused portion of the Revolving Loan Commitment for Facility A from the date hereof Amount (net of Letter of Credit Outstandings). The Company agrees to and including the Facility A Termination Date, payable in arrears on each Quarterly Payment Date and on the Facility A Termination Date and (ii) pay to the Revolving Loan Administrative Agent for the account of each Facility B Revolver Lender Extended Revolving Loan Lender, for the period (including any portion thereof when any of its Commitments are suspended by reason of the Borrowers’ inability to satisfy any condition of Article V) commencing on the Closing Date and continuing through the Extended Revolving Loan Commitment Termination Date, a Commitment Fee, at a rate per annum commitment fee in an amount equal to the Applicable Commitment Fee Rate for Facility BMargin, in each case on such Lender’s Extended Revolving Loan Percentage of the sum of the average daily unused portion of the Revolving Loan Commitment Amount (net of Letter of Credit Outstandings). The making of Swing Line Loans shall not constitute usage of the Revolving Loan Commitment with respect to the calculation of commitment fees to be paid by the Borrowers to the Lenders. All commitment fees payable pursuant to this Section shall be calculated on a year comprised of 360 days and payable by the Company in arrears on the daily average of such Facility B Revolver Lender’s Unused Commitment for Facility B from the date hereof to Closing Date and including the Facility B Termination Date, payable in arrears thereafter on each Quarterly Payment Date, commencing with the first Quarterly Payment Date following the Closing Date, and on the Facility B Original Revolving Loan Commitment Termination Date or the Extended Revolving Loan Commitment Termination Date. All accrued Commitment Fees with respect to Facility A under this Section 2.07 shall be payable on the effective date of any termination of the obligations of the Facility A Lenders to make Facility A Loans hereunder, and all accrued Commitment Fees with respect to Facility B under this Section 2.07 shall be payable to each Facility B Revolver Lender on the effective date of any termination of its obligations to make Facility B Revolver Loans hereunder. The fees payable under this Section 2.07, once paid, shall not be refundable for any reasonas applicable.
Appears in 1 contract
Sources: Credit Agreement (Ferro Corp)
Commitment Fees. The Borrower agrees to pay (i) to the Administrative Agent for the account of (a) each Facility A Five-Year Revolving Lender according to its Five-Year Revolving Pro Rata Share a Commitment Fee, commitment fee at a rate the per annum equal to rate specified therefor in the definition of Applicable Commitment Fee Rate for Facility A, Margin on the average daily average of such Facility A Lender’s Unused Available Aggregate Five-Year Revolving Commitment for Facility A from the date hereof to and including the Facility A Five-Year Revolving Loan Termination Date, payable in arrears on each Quarterly Payment Date hereafter and on the Facility A Five-Year Revolving Loan Termination Date and (iib) each 364-Day Revolving Lender according to its 364-Day Revolving Pro Rata Share a commitment fee at the Administrative Agent for the account of each Facility B Revolver Lender a Commitment Fee, at a rate per annum equal to rate specified therefor in the definition of Applicable Commitment Fee Rate for Facility B, Margin on the average daily average of such Facility B Revolver Lender’s Unused Available Aggregate 364-Day Revolving Commitment for Facility B from the date hereof to and including the Facility B 364-Day Revolving Loan Termination Date, payable in arrears on each Quarterly Payment Date hereafter and on the Facility B 364-Day Revolving Loan Termination Date; provided, that commitment fees shall only accrue in respect of the 364-Day Revolving Commitments during a 364-Day Revolving Facility Availability Period. All accrued Swing Line Loans shall not count as usage of the Five-Year Revolving Commitment Fees with respect for the purpose of calculating the commitment fee due hereunder. Notwithstanding the foregoing or anything to Facility A under this Section 2.07 the contrary set forth herein, no commitment fees shall be due and payable on the effective date of any termination of the obligations of the Facility A Lenders to make Facility A Loans hereunder, and all accrued Commitment Fees with respect to Facility B under this Section 2.07 shall be payable to each Facility B Revolver Lender on the effective date of any termination of its obligations to make Facility B Revolver Loans hereunder. The fees payable under this Section 2.07, once paid, shall not be refundable for any reason.
Appears in 1 contract
Sources: Credit Agreement (Andersons, Inc.)
Commitment Fees. The In consideration of the Revolving Committed Amount, Tranche A Term Loan Committed Amount and Tranche B Term Loan Committed Amount being made available by the Lenders hereunder, the Borrower agrees to pay (i) to the Administrative Agent Agent, for the account pro rata benefit of each Facility applicable Lender (based on each Lender's Revolving Loan Commitment Percentage of the Revolving Committed Amount, Tranche A Lender Term Loan Commitment Percentage of the Tranche A Term Loan Committed Amount and Tranche B Term Loan Commitment Percentage of the Tranche B Term Loan Committed Amount, as applicable), a Commitment Fee, at a rate per annum fee equal to the Applicable Percentage for Commitment Fee Rate for Facility A, Fees multiplied by the applicable Unused Commitment (the "Commitment Fees"). The Commitment Fees accrued prior to the Closing Date shall be paid on the daily average Effective Date and future Commitment Fees shall commence to accrue on the Effective Date to and excluding (i) with respect to the Revolving Committed Amount, the earlier of such Facility A Lender’s Unused Commitment for Facility A from the Revolving Loan Maturity Date or the date hereof on which the Revolving Committed Amount is terminated (ii) with respect to the Tranche A Term Loan, the earlier of the Subordinated Notes Call Date and including December 31, 1997 and (iii) with respect to the Facility A Termination DateTranche B Term Loan, the last of the two Tranche B Term Loan Funding Dates, and shall be due and payable in arrears on each Quarterly Payment Date and on the Facility A Termination Date and (ii) to the Administrative Agent for the account last day of each Facility B Revolver Lender a Commitment Fee, at a rate per annum equal to the Applicable Commitment Fee Rate for Facility B, on the daily average of such Facility B Revolver Lender’s Unused Commitment for Facility B from the date hereof to and including the Facility B Termination Date, payable in arrears on each Quarterly Payment Date and on the Facility B Termination Date. All accrued Commitment Fees with respect to Facility A under this Section 2.07 shall be payable on the effective date of any termination of the obligations of the Facility A Lenders to make Facility A Loans hereunder, and all accrued Commitment Fees with respect to Facility B under this Section 2.07 shall be payable to each Facility B Revolver Lender on the effective date of any termination of its obligations to make Facility B Revolver Loans hereunder. The fees payable under this Section 2.07, once paid, shall not be refundable for any reason.each
Appears in 1 contract
Commitment Fees. The Borrower agrees Parent Borrowers jointly and severally agree to pay (i) to the Administrative Agent for the account of each Facility A Revolving Lender a commitment fee for the period from and including the first day of the Revolving Commitment FeePeriod to the Revolving Termination Date, computed at a rate per annum equal to the Applicable Commitment Fee Rate for Facility A, per annum on the average daily average amount of such Facility A Revolving Lender’s Unused 's Revolving Commitment Percentage of the Available Revolving Commitment during the period (calculated as if no Swing Line Loans were outstanding during such period) for Facility A from the date hereof to and including the Facility A Termination Datewhich payment is made, payable quarterly in arrears on each Quarterly Fee Payment Date and on the Facility A Revolving Termination Date (or such earlier date on which the Revolving Loans become due and (ii) payable pursuant to Section 10), commencing on the first of such dates to occur after the date hereof. The Parent Borrowers jointly and severally agree to pay to the Administrative Agent for the account of each Facility B Revolver Term Lender a commitment fee for the period from and including the first day of the Term Commitment FeePeriod to the last day of the Term Commitment Period, computed at a rate per annum equal to the Applicable Commitment Fee Rate for Facility B, per annum on the average daily average amount of such Facility B Revolver Lender’s Unused 's Term Commitment Percentage of the Available Term Commitment during the period for Facility B from the date hereof to and including the Facility B Termination Datewhich payment is made, payable quarterly in arrears on each Quarterly Fee Payment Date and on the Facility B Termination Date. All accrued last day of the Term Commitment Fees with respect to Facility A under this Section 2.07 shall be payable Period, commencing on the effective first of such dates to occur after the date of any termination of the obligations of the Facility A Lenders to make Facility A Loans hereunder, and all accrued Commitment Fees with respect to Facility B under this Section 2.07 shall be payable to each Facility B Revolver Lender on the effective date of any termination of its obligations to make Facility B Revolver Loans hereunder. The fees payable under this Section 2.07, once paid, shall not be refundable for any reasonhereof.
Appears in 1 contract
Sources: Credit and Guarantee Agreement (Young & Rubicam Inc)
Commitment Fees. The Borrower agrees to pay (i) to the Administrative Agent for the account of each Facility A Lender a Commitment Feefacility fee, which shall accrue at a the rate of (i) 0.50% if the sum of the aggregate Revolving Credit Exposure of all the Lenders is less than or equal to 25% of the Aggregate Commitments or (ii) 0.375% if the sum of the aggregate Revolving Credit Exposure of all the Lenders is greater than 25% of the Aggregate Commitments, in each case to be calculated per annum equal on the daily amount of the aggregate Unused Commitment of each Lender (determined for each calendar month as of the end of each such calendar month) during the period from and including the Effective Date to but excluding the Applicable date on which such Commitment Fee Rate for terminates; provided that, if such Lender continues to have any Revolving Credit Exposure after its Commitment terminates, then such facility fee shall continue to accrue on the daily amount of such Lender’s Revolving Credit Exposure from and including the date on which its Commitment terminates to but excluding the date on which such Lender ceases to have any Revolving Credit Exposure. Facility Afees accrued through and including the last day of each calendar quarter shall be payable in arrears commencing, with respect to such fees accrued through and including September 30, 2018, on the daily average fifth day following such date and continuing thereafter, on the first Business Day of such Facility A Lender’s Unused Commitment for Facility A from the date hereof to each January, April, July and including the Facility A Termination Date, payable in arrears on October of each Quarterly Payment Date year and on the Facility A Termination Date and (ii) to date on which the Administrative Agent for the account of each Facility B Revolver Lender a Commitment Fee, at a rate per annum equal to the Applicable Commitment Fee Rate for Facility B, on the daily average of such Facility B Revolver Lender’s Unused Commitment for Facility B from Commitments terminate; provided that any facility fees accruing after the date hereof to and including on which the Facility B Termination Date, payable in arrears on each Quarterly Payment Date and on the Facility B Termination Date. All accrued Commitment Fees with respect to Facility A under this Section 2.07 Commitments terminate shall be payable on demand. All facility fees shall be computed on the effective date basis of any termination a year of the obligations of the Facility A Lenders to make Facility A Loans hereunder, 360 days and all accrued Commitment Fees with respect to Facility B under this Section 2.07 shall be payable to each Facility B Revolver Lender on for the effective date actual number of any termination of its obligations to make Facility B Revolver Loans hereunder. The fees payable under this Section 2.07, once paid, shall not be refundable for any reasondays elapsed (including the first day but excluding the last day).
Appears in 1 contract
Commitment Fees. The Borrower agrees Borrowers agree to pay (i) to the Administrative Managing Agent for a fee (the account of each Facility A Lender a "Commitment Fee, at a rate per annum ") in an amount equal to the Applicable Commitment Fee Rate for Facility A, on the daily average unused portion of such Facility A Lender’s Unused the Total Commitment for Facility A during each fiscal quarter or portion thereof from the Effective Date to the Maturity Date (or to the date hereof to and including of termination in full of the Facility A Termination DateTotal Commitment, if earlier). The Commitment Fee shall be payable in arrears on the last day of each Quarterly Payment fiscal quarter commencing with the fiscal quarter ending December 31, 1996, for the fiscal quarter then ending, with a final payment on the Maturity Date (or to the date of termination in full of the Total Commitment, if earlier). For purposes of computing the Commitment Fee, the Maximum Drawing Amount of all L/Cs shall be considered usage with respect to the Commitment. For purposes of determining the unused portion of the Multicurrency Commitment, the Dollar Equivalent of each Multicurrency Loan and the Maximum Drawing Amount of all International L/Cs as determined on the Drawdown Date, and on the Facility A Termination Date and (ii) to date of subsequent adjustments made twice per month shall be the Administrative Agent for amount used in connection with the account usage of each Facility B Revolver Lender a Commitment Fee, at a rate per annum equal to the Applicable Multicurrency Commitment. That portion of the Commitment Fee Rate for Facility B, on the daily average of such Facility B Revolver Lender’s Unused Commitment for Facility B from the date hereof to and including the Facility B Termination Date, payable in arrears on each Quarterly Payment Date and on the Facility B Termination Date. All accrued Commitment Fees with respect to Facility A under this Section 2.07 the Revolving Credit Commitment shall be payable on shared among the effective date of any termination Lenders pro rata in accordance with their Revolving Credit Commitment Percentages. That portion of the obligations of the Facility A Lenders to make Facility A Loans hereunder, and all accrued Commitment Fees Fee payable with respect to Facility B under this Section 2.07 the Multicurrency Commitment shall be payable to each Facility B Revolver Lender on shared among the effective date of any termination of its obligations to make Facility B Revolver Loans hereunder. The fees payable under this Section 2.07, once paid, shall not be refundable for any reasonMulticurrency Lenders pro rata in accordance with their respective Multicurrency Commitment Percentages.
Appears in 1 contract
Sources: Multicurrency Credit Agreement (United States Filter Corp)
Commitment Fees. The Borrower agrees to pay (i) to the Administrative Agent for the account of each Facility A Lender a Commitment Feecommitment fee, which shall accrue at a rate per annum equal to the Applicable Commitment Fee Rate for Facility APercentage (determined quarterly in accordance with Schedule I or Schedule II, as applicable) on the average daily average amount of ---------- ----------- the unused Revolving Commitment of such Facility A Lender’s Unused Lender during the Availability Period; provided, that if such Lender continues to have any Revolving Credit Exposure -------- after the Commitment for Facility A from the date hereof to and including the Facility A Termination Date, then the commitment fee shall continue to accrue on the average daily amount of such Lender's unused Revolving Commitment from and after the Commitment Termination Date to the date that all of such Lender's Revolving Credit Exposure has been paid in full. The Applicable Percentage shall initially be 0.25%, but shall be reset from time to time as provided in the definition of "Applicable Percentage" herein. Accrued commitment fees shall be payable in arrears on the last day of each Quarterly Payment Date fiscal quarter of the Borrower and on the Facility A Termination Date and (ii) to the Administrative Agent for the account of each Facility B Revolver Lender a Commitment Fee, at a rate per annum equal to the Applicable Commitment Fee Rate for Facility B, on the daily average of such Facility B Revolver Lender’s Unused Commitment for Facility B from the date hereof to and including the Facility B Termination Date, payable in arrears on each Quarterly Payment Date and commencing on the Facility B first such date after the Closing Date; provided that any commitment fees accruing after -------- the Commitment Termination Date. All accrued Commitment Fees with respect to Facility A under this Section 2.07 Date shall be payable on the effective date demand. For purposes of any termination of the obligations of the Facility A Lenders to make Facility A Loans hereunder, and all accrued Commitment Fees computing commitment fees with respect to Facility B under this Section 2.07 the Revolving Commitments, the Revolving Commitment of each Lender shall be payable deemed used to each Facility B Revolver the extent of the outstanding Revolving Loans and LC Exposure of such Lender on the effective date of any termination of its obligations to make Facility B Revolver (but outstanding Swingline Loans hereunder. The fees payable under this Section 2.07, once paid, shall not be refundable for any reasondeemed usage of the Revolving Commitment of each Lender).
Appears in 1 contract
Commitment Fees. (a) The Borrower agrees to shall pay (i) to the Administrative Agent for the account of each Facility A Revolving Credit Lender a commitment fee on the daily average unused amount of such Revolving Credit Lender's Revolving Credit Agreement Credit Commitment Fee(for which purpose the aggregate amount of any Letter of Credit Liabilities shall be deemed to be a pro rata (based on the Revolving Credit Commitments) use of each Revolving Credit Lender's Revolving Credit Commitment), for the period from and including the date of this Agreement to but not including the earlier of the date such Revolving Credit Commitment is terminated and the Revolving Credit Commitment Termination Date, at a rate per annum equal to the Applicable Commitment Fee Rate Rate.
(b) The Borrower shall pay to the Agent for Facility A, account of each Tranche C Lender a commitment fee on the daily average unused amount of such Facility A Tranche C Lender’s Unused Commitment 's Tranche C Term Loan Commitment, for Facility A the period from the date hereof to and including the Facility A Tranche C Term Loan Activation Date to but not including the earlier of the date such Tranche C Term Loan Commitment is terminated and the Tranche C Term Loan Commitment Termination Date, payable in arrears on each Quarterly Payment Date and on the Facility A Termination Date and (ii) to the Administrative Agent for the account of each Facility B Revolver Lender a Commitment Fee, at a rate per annum equal to a rate agreed to by the Applicable Commitment Fee Rate for Facility B, on Borrower and the daily average of such Facility B Revolver Lender’s Unused Commitment for Facility B from Tranche C Lenders and specified in the date hereof to and including the Facility B Termination Date, Tranche C Term Loan Activation Notice.
(c) Accrued commitment fee shall be payable in arrears on each Quarterly Payment Date and on the Facility B earlier of the date the relevant Commitment is terminated and either the Revolving Credit Commitment Termination Date or the Tranche C Term Loan Commitment Termination Date. All accrued Commitment Fees with respect to Facility A under this Section 2.07 shall be payable on , as the effective date of any termination of the obligations of the Facility A Lenders to make Facility A Loans hereunder, and all accrued Commitment Fees with respect to Facility B under this Section 2.07 shall be payable to each Facility B Revolver Lender on the effective date of any termination of its obligations to make Facility B Revolver Loans hereunder. The fees payable under this Section 2.07, once paid, shall not be refundable for any reasoncase may be.
Appears in 1 contract
Sources: Third Amended and Restated Credit Agreement (Sinclair Broadcast Group Inc)
Commitment Fees. The In consideration of each Lender’s commitment to make Loans, during the period from the Closing Date through the Tranche A Commitment Termination Date, Borrower agrees will pay to pay (i) to the Administrative Agent for the account of each Facility A Lender a commitment fee with respect to such Lender’s Tranche A Commitment Fee, at determined on a rate per annum equal to daily basis by applying the Applicable applicable Commitment Fee Rate to such Lender’s Percentage Share of the unused portion of the Tranche A Facility Amount on each day, determined for Facility A, on each such day by deducting from the daily average amount of the Borrowing Base at the end of such Facility day the sum of (i) the aggregate unpaid principal balance of the Tranche A Lender’s Unused Commitment for Facility A Loans at the end of such day plus (ii) the amount of all LC Obligations at the end of such day. In addition, during the period from the date hereof to and including Closing Date through the Facility A Tranche B Commitment Termination Date, payable in arrears on each Quarterly Payment Date and on the Facility A Termination Date and (ii) Borrower will pay to the Administrative Agent for the account of each Facility B Revolver Lender a commitment fee with respect to such Lender’s Tranche B Commitment Fee, at determined on a rate per annum equal to daily basis by applying the Applicable applicable Commitment Fee Rate to such Lender’s Percentage Share of the unused portion of the Tranche B Facility Amount on each day, determined for each such day by deducting from the amount of the Tranche B Facility BAmount at the end of such day the aggregate unpaid principal balance of the Tranche B Loans at the end of such day. These commitment fees shall be due and payable in arrears, with the first payment due on December 31, 2003, and thereafter on the last day of each Fiscal Quarter, with respect to the commitment fees payable in respect of the Tranche A Commitments, on the daily average of such Facility B Revolver Lender’s Unused Tranche A Commitment for Facility B from the date hereof to and including the Facility B Termination Date, payable in arrears on each Quarterly Payment Date and on the Facility B Termination Date. All accrued Commitment Fees with respect to Facility A under this Section 2.07 shall be the commitment fees payable in respect of the Tranche B Commitments, on the effective date of any termination of the obligations of the Facility A Lenders to make Facility A Loans hereunder, and all accrued Tranche B Commitment Fees with respect to Facility B under this Section 2.07 shall be payable to each Facility B Revolver Lender on the effective date of any termination of its obligations to make Facility B Revolver Loans hereunder. The fees payable under this Section 2.07, once paid, shall not be refundable for any reasonTermination Date.
Appears in 1 contract
Commitment Fees. The Borrower (a) Subject to Section 2.10, the Company agrees to pay (i) to the Administrative Agent for the account of each Facility A Revolving Lender a Commitment Feecommitment fee, for the period from the date on which the Effective Time occurs to the Termination Date, at a rate per annum equal to the Applicable Commitment Fee Rate for Facility A, in effect from time to time on the daily average of such Facility A Revolving Lender’s Unused Percentage with respect to the Revolving Facility of the unused amount of the Revolving Commitment for Facility A from Amount. For purposes of calculating usage under this Section, the date hereof Revolving Commitment Amount shall be deemed used to the extent of the sum of the aggregate outstanding principal amount of all Revolving Loans (but not Swing Line Loans) and including the Facility A Termination Date, Stated Amount of Letters of Credit at such time. Such commitment fee shall be payable in arrears on the last Business Day of each Quarterly Payment Date calendar quarter and on the Facility A Termination Date and for any period then ending for which such commitment fee shall not have theretofore been paid. The commitment fee shall be computed for the actual number of days elapsed on the basis of a year of 360 days.
(iib) Subject to Section 2.10, the Company agrees to pay to the Administrative Agent for the account of each Facility B Revolver DDTL Lender a Commitment Feecommitment fee, for the period from November 20, 2021 to the DDTL Expiration Date, at a rate per annum equal to the Applicable Commitment DDTL Non-Use Fee Rate for in effect from time to time such DDTL ▇▇▇▇▇▇’s Percentage with respect to the DDTL Facility B, on of the daily average unused amount of such Facility B Revolver Lender’s Unused the DDTL Commitment for Facility B from the date hereof to and including the Facility B Termination Date, Amount. The commitment fee shall be payable in arrears on the last Business Day of each Quarterly Payment calendar quarter prior to the DDTL Expiration Date and on the Facility B Termination DateDDTL Expiration Date for any period then ending for which the commitment fee shall not have theretofore been paid. All accrued Commitment Fees with respect to Facility A under this Section 2.07 The commitment fee shall be payable computed for the actual number of days elapsed on the effective date basis of any termination a year of the obligations of the Facility A Lenders to make Facility A Loans hereunder, and all accrued Commitment Fees with respect to Facility B under this Section 2.07 shall be payable to each Facility B Revolver Lender on the effective date of any termination of its obligations to make Facility B Revolver Loans hereunder. The fees payable under this Section 2.07, once paid, shall not be refundable for any reason360 days.
Appears in 1 contract
Sources: Credit Agreement (MIDDLEBY Corp)
Commitment Fees. (a) The Borrower agrees to shall pay (i) to the Administrative Agent for the account of each Facility A Revolving Credit Lender a commitment fee on the daily average unused amount of such Lender's Revolving Credit Commitment, for the period from and including the Amendment Effective Date to but excluding the earlier of the date such Commitment Feeis terminated or expires, at a rate per annum equal to the Applicable Rate. For purposes of computing commitment fees under this paragraph (a), (1) the Revolving Credit Commitment Fee Rate for Facility A, on of a Lender (other than a Lender that is also the daily average Swingline Lender) shall be deemed to be used to the extent of the outstanding Revolving Credit Loans and LC Exposure of such Facility A Lender’s Unused Commitment Lender (and the Swingline Exposure of such Lender shall be disregarded for Facility A from the date hereof to and including the Facility A Termination Date, payable in arrears on each Quarterly Payment Date and on the Facility A Termination Date such purpose) and (ii2) the Revolving Credit Commitment of a Lender that is also the Swingline Lender shall be deemed to be used to the extent of the outstanding Revolving Credit Loans, LC Exposure and Swingline Exposure of such Lender.
(b) The Borrower shall pay to the Administrative Agent for the account of each Facility B Revolver Lender having an Incremental Revolving Credit Commitment a Commitment Fee, commitment fee at a rate per annum equal agreed to between the Applicable Borrower and the relevant Incremental Lender or Lenders in the applicable Incremental Loan Amendment.
(c) Commitment Fee Rate for Facility B, on the daily average of such Facility B Revolver Lender’s Unused Commitment for Facility B from the date hereof to fees accrued through and including the Facility B Termination Date, last day of each calendar quarter shall be payable in arrears on each Quarterly Payment Date the third Business Day following such last day, commencing with the first such day after the Amendment Effective Date, and on the Facility B Termination Date. All accrued Commitment Fees with respect to Facility A under this Section 2.07 shall be payable on date the effective date of any termination of the obligations of the Facility A Lenders to make Facility A Loans hereunder, and all accrued Commitment Fees with respect to Facility B under this Section 2.07 shall be payable to each Facility B Revolver Lender on the effective date of any termination of its obligations to make Facility B Revolver Loans hereunder. The fees payable under this Section 2.07, once paid, shall not be refundable for any reasonapplicable Commitments are terminated or expire.
Appears in 1 contract
Commitment Fees. The Borrower agrees to shall pay (i) to the Administrative Agent for the account of each Facility A Revolving Credit Lender a Commitment Feecommitment fee on the average daily unused portion of such Revolving Credit Lender's Revolving Credit Commitment, at computed on a rate per annum quarterly basis in arrears on the last Business Day of each calendar quarter based upon the daily utilization for that quarter as calculated by the Administrative Agent, equal to the Applicable Commitment Fee Rate for Facility APercentage. For purposes of calculating utilization under this Section, on (i) the daily average combined Revolving Credit Commitments shall be deemed used to the extent of such Facility A Lender’s Unused Commitment for Facility A from the date hereof to and including Effective Amount of Revolving Credit Loans then outstanding, plus the Facility A Termination DateEffective Amount of L/C Obligations, payable in arrears on each Quarterly Payment Date and on the Facility A Termination Date and (ii) the making of any Swingline Loan shall not be considered a use of any Revolving Credit Commitment. Such commitment fee shall accrue from the Closing Date to the Administrative Agent for the account of each Facility B Revolver Lender a Commitment Fee, at a rate per annum equal to the Applicable Commitment Fee Rate for Facility B, on the daily average of such Facility B Revolver Lender’s Unused Commitment for Facility B from the date hereof to and including the Facility B Revolving 41 Termination Date, and shall be due and payable quarterly in arrears on the last Business Day of each Quarterly Payment Date and calendar quarter commencing on the Facility B first such day after this Agreement is executed by the Borrower through the Revolving Termination Date. All accrued Commitment Fees , with respect the final payment to Facility A under this Section 2.07 shall be payable made on the effective date of Revolving Termination Date; provided, that, in connection with any termination of the obligations combined Revolving Credit Commitments under Section 2.5 or Section 2.7, the accrued commitment fee calculated for the period ending on such date shall also be paid on the date of the Facility A Lenders to make Facility A Loans hereunder, and all accrued Commitment Fees with respect to Facility B under such termination. The commitment fees provided in this Section 2.07 shall be payable to each Facility B Revolver Lender on accrue at all times after the effective date of above-mentioned commencement date, including at any termination of its obligations to make Facility B Revolver Loans hereunder. The fees payable under this Section 2.07, once paid, shall time during which one or more conditions in Article V are not be refundable for any reasonmet.
Appears in 1 contract
Commitment Fees. The Borrower agrees to pay (i) in Dollars to the Administrative Agent for the account of each Facility A Non-Extended Revolving Lender a Commitment Feecommitment fee, which shall accrue at a rate per annum equal to the Applicable Commitment Fee Rate Percentage for Facility A, the Non-Extended Revolving Commitments (on an annualized basis but determined daily in accordance with Schedule I) on the daily average amount of the Dollar Equivalent of the unused Non-Extended Revolving Commitment of such Facility A Lender’s Unused Commitment for Facility A from Lender during the date hereof Non-Extended Revolving Availability Period. The Borrower agrees to and including the Facility A Termination Date, payable in arrears on each Quarterly Payment Date and on the Facility A Termination Date and (ii) pay to the Administrative Agent for the account of each Facility B Revolver Extended Revolving Lender a Commitment Feecommitment fee, which shall accrue at a rate per annum equal to the Applicable Commitment Fee Rate Percentage for Facility B, the Extended Revolving Commitments (on an annualized basis but determined daily in accordance with Schedule I) on the daily average amount of the unused Extended Revolving Commitment of such Facility B Revolver Lender’s Unused Commitment for Facility B from Lender during the date hereof to and including the Facility B Termination Date, payable in arrears on each Quarterly Payment Date and on the Facility B Termination DateExtended Revolving Availability Period. All accrued Commitment Fees For purposes of computing commitment fees with respect to Facility A under this Section 2.07 the Revolving Commitments, the Non-Extended Revolving Commitment of each Lender shall be payable on deemed used to the effective date of any termination extent of the obligations outstanding Non-Extended Revolving Loans of such Lender, and the Extended Revolving Commitment of each Lender shall be deemed used to the extent of the Facility A Lenders to make Facility A outstanding Extended Revolving Loans hereunderand LC Exposure of such Lender, and all accrued Commitment Fees with respect to Facility B under this Section 2.07 shall be payable to each Facility B Revolver Lender on the effective date of any termination of its obligations to make Facility B Revolver however Swingline Loans hereunder. The fees payable under this Section 2.07, once paid, shall not be refundable for any reasondeemed usage of the Extended Revolving Commitments.
Appears in 1 contract
Sources: Revolving Credit and Term Loan Agreement (Healthways, Inc)
Commitment Fees. The Borrower agrees to pay (i) to the Administrative Agent for the account of each Facility A Lender a Commitment Feecommitment fee, which shall accrue at a rate per annum equal to the Applicable Commitment Fee Rate for Facility A, Percentage (determined quarterly in accordance with Schedule I) on the average daily average amount of the unused Revolving Commitment of such Facility A Lender’s Unused Lender during the Availability Period; provided, that if such Lender continues to have any Revolving Credit Exposure after the Commitment for Facility A from the date hereof to and including the Facility A Termination Date, then the commitment fee shall continue to accrue on the average daily amount of such Lender's unused Revolving Commitment from and after the Commitment Termination Date to the date that all of such Lender's Revolving Credit Exposure has been paid in full. The Applicable Percentage shall initially be 0.25%, but shall be reset from time to time as provided in the definition of "Applicable Percentage" herein. Accrued commitment fees shall be payable in arrears on the last day of each Quarterly Payment Date March, June, September and December of each year and on the Facility A Termination Date and (ii) to the Administrative Agent for the account of each Facility B Revolver Lender a Commitment Fee, at a rate per annum equal to the Applicable Commitment Fee Rate for Facility B, on the daily average of such Facility B Revolver Lender’s Unused Commitment for Facility B from the date hereof to and including the Facility B Termination Date, payable in arrears on each Quarterly Payment Date and commencing on the Facility B first such date after the Closing Date; provided that any commitment fees accruing after the Commitment Termination Date. All accrued Commitment Fees with respect to Facility A under this Section 2.07 Date shall be payable on the effective date demand. For purposes of any termination of the obligations of the Facility A Lenders to make Facility A Loans hereunder, and all accrued Commitment Fees computing commitment fees with respect to Facility B under this Section 2.07 the Revolving Commitments, the Revolving Commitment of each Lender shall be payable deemed used to each Facility B Revolver Lender on the effective date extent of any termination the outstanding Revolving Loans and LC Exposure of its obligations to make Facility B Revolver Loans hereunder. The fees payable under this Section 2.07, once paid, shall not be refundable for any reasonsuch Lender.
Appears in 1 contract
Commitment Fees. The Borrower Company agrees to pay (i) to the Administrative Agent for the account of each Facility A Lender a Commitment Fee, at a rate per annum equal to the Applicable Commitment Fee Rate for Facility A, on the daily average of such Facility A Lender’s 's Unused Commitment for Facility A from the date hereof to and including the Facility A Termination Date, payable in arrears on each Quarterly Payment Date and on the Facility A Termination Date and (ii) to the Administrative Agent for the account of each Facility B Revolver Lender a Commitment Fee, at a rate per annum equal to the Applicable Commitment Fee Rate for Facility B, on the daily average of such Facility B Revolver Lender’s 's Unused Commitment for Facility B from the date hereof to and including the Facility B Termination Date, payable in arrears on each Quarterly Payment Date and on the Facility B Termination Date. All accrued Commitment Fees with respect to Facility A under this Section 2.07 shall be payable on the effective date of any termination of the obligations of the Facility A Lenders to make Facility A Loans hereunder, and all accrued Commitment Fees with respect to Facility B under this Section 2.07 shall be payable to each Facility B Revolver Lender on the effective date of any termination of its obligations to make Facility B Revolver Loans hereunder. The fees payable under this Section 2.07, once paid, shall not be refundable for any reason.
Appears in 1 contract
Sources: Credit Agreement (Lennar Corp /New/)
Commitment Fees. The Borrower agrees to pay (i) to the Administrative Agent for the account of each Facility A Lender a commitment fee, which shall accrue at (i) 0.375% per annum on the average daily unused amount of each Additional Revolving Commitment (the “Additional Revolving Commitment Fee, at a rate per annum equal to the Applicable Commitment Fee Rate for Facility A, on the daily average of such Facility A Lender’s Unused Commitment for Facility A from the date hereof to and including the Facility A Termination Date, payable in arrears on each Quarterly Payment Date and on the Facility A Termination Date ”) and (ii) to 1.0% per annum on the Administrative Agent for the account average daily unused amount of each Facility B Revolver Lender a Delayed Draw Commitment (the “Delayed Draw Commitment Fee, at a rate per annum equal to the Applicable Commitment Fee Rate for Facility B, on the daily average ”) of such Facility B Revolver Lender’s Unused Commitment for Facility B Lender during the period from the date hereof to and including the Facility B Termination DateRestatement Effective Date to but excluding the date on which the aggregate Additional Revolving Commitments and Delayed Draw Commitments, as applicable, terminate. Accrued commitment fees shall be payable in arrears in respect of the Additional Revolving Commitments on the last Business Day of March, June, September and December of each Quarterly Payment Date year and on the Facility B Termination Datedate on which the Additional Revolving Commitments terminate, commencing on the first such date to occur after the date hereof. Accrued commitment fees shall be payable in arrears in respect of the Delayed Draw Commitments on the last Business Day of March, June, September and December of each year and on the date on which the Delayed Draw Commitments terminate commencing on the first such date to occur after the date hereof. All accrued Commitment Fees 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). For purposes of computing commitment fees with respect to Facility A under this Section 2.07 Additional Revolving Commitments, an Additional Revolving Commitment of a Lender shall be payable on deemed to be used to the effective date of any termination extent of the obligations outstanding Additional Revolving Loans and LC Exposure of such Lender (and the Facility A Lenders to make Facility A Loans hereunder, and all accrued Commitment Fees with respect to Facility B under this Section 2.07 Swingline Exposure of such Lender shall be payable to each Facility B Revolver Lender on the effective date of any termination of its obligations to make Facility B Revolver Loans hereunder. The fees payable under this Section 2.07, once paid, shall not be refundable disregarded for any reasonsuch purpose).
Appears in 1 contract
Commitment Fees. The Borrower agrees to Borrowers shall pay (i) to the Administrative Agent for the account of each Facility A Revolving Lender a commitment fee on the average daily unused portion of such Revolving Lender's Loan Commitment (the "Commitment Fee"), computed on a quarterly basis in arrears on the last Business Day of each calendar quarter based upon the daily utilization for that quarter as calculated by the Administrative Agent. At all times prior to the delivery of a Compliance Certificate pursuant to subsection 7.02(b) for the fiscal quarter ended March 31, 2003, the Commitment Fee shall be a per annum rate equal to 50.0 basis points and, at all times thereafter, the Commitment Fee shall be a rate per annum rate equal to the Applicable Commitment Fee Rate in effect at such time as determined by reference to the Pricing Grid attached hereto as Schedule 1.01 and the applicable Total Leverage Ratio for Facility Athe applicable period set forth in the most recent Compliance Certificate delivered pursuant to Section 7.02(b). For purposes of calculating utilization under this subsection 2.11(b), on the daily average Revolving Loan Commitments shall be deemed used to the extent of such Facility A the aggregate amount of Revolving Loans then outstanding plus the aggregate amount of L/C Obligations then outstanding and shall not be deemed used by a Lender’s Unused Commitment for Facility A 's Pro Rata Share of Swing Line Loans. Such commitment fee shall accrue from the date hereof to the Revolving Loan Termination Date and including the Facility A Termination Date, shall be due and payable quarterly in arrears on the last Business Day of each Quarterly Payment Date and calendar quarter commencing on March 31, 2003, with the final payment to be made on the Facility A Termination Date and (ii) to the Administrative Agent for the account of each Facility B Revolver Lender a Commitment Fee, at a rate per annum equal to the Applicable Commitment Fee Rate for Facility B, on the daily average of such Facility B Revolver Lender’s Unused Commitment for Facility B from the date hereof to and including the Facility B Termination Date, payable in arrears on each Quarterly Payment Date and on the Facility B Revolving Loan Termination Date. All accrued The Commitment Fees with respect to Facility A under Fee provided in this Section 2.07 subsection 2.11(b) shall be payable on accrue at all times after the effective date of hereof, including at any termination of the obligations of the Facility A Lenders to make Facility A Loans hereunder, and all accrued Commitment Fees with respect to Facility B under this Section 2.07 shall be payable to each Facility B Revolver Lender on the effective date of any termination of its obligations to make Facility B Revolver Loans hereunder. The fees payable under this Section 2.07, once paid, shall time during which one or more conditions in Article V are not be refundable for any reasonmet.
Appears in 1 contract
Commitment Fees. The Borrower agrees to pay (i) to the Administrative Agent for the account of each Facility A Lender a Commitment Feecommitment fee, which shall accrue at a rate per annum equal to the Applicable Commitment Fee Rate for Facility A, Percentage (determined quarterly in accordance with Schedule I) on the average daily average amount of the unused Revolving Commitment of such Facility A Lender’s Unused Lender during the Availability Period; provided, that if such Lender continues to have any Revolving Credit Exposure after the Commitment for Facility A from the date hereof to and including the Facility A Termination Date, then the commitment fee shall continue to accrue on the average daily amount of such Lender’s unused Revolving Commitment from and after the Commitment Termination Date to the date that all of such Lender’s Revolving Credit Exposure has been paid in full. The Applicable Percentage shall initially be 0.150%, but shall be reset from time to time as provided in the definition of “Applicable Percentage” herein. Accrued commitment fees shall be payable in arrears on the last day of each Quarterly Payment Date fiscal quarter of the Borrower and on the Facility A Termination Date and (ii) to the Administrative Agent for the account of each Facility B Revolver Lender a Commitment Fee, at a rate per annum equal to the Applicable Commitment Fee Rate for Facility B, on the daily average of such Facility B Revolver Lender’s Unused Commitment for Facility B from the date hereof to and including the Facility B Termination Date, payable in arrears on each Quarterly Payment Date and commencing on the Facility B first such date after the Closing Date; provided that any commitment fees accruing after the Commitment Termination Date. All accrued Commitment Fees with respect to Facility A under this Section 2.07 Date shall be payable on the effective date demand. For purposes of any termination of the obligations of the Facility A Lenders to make Facility A Loans hereunder, and all accrued Commitment Fees computing commitment fees with respect to Facility B under this Section 2.07 the Revolving Commitments, the Revolving Commitment of each Lender shall be payable deemed used to each Facility B Revolver the extent of the outstanding Revolving Loans and LC Exposure of such Lender on the effective date of any termination of its obligations to make Facility B Revolver (but outstanding Swingline Loans hereunder. The fees payable under this Section 2.07, once paid, shall not be refundable for any reasondeemed usage of the Revolving Commitment of each Lender).
Appears in 1 contract
Commitment Fees. (a) The Borrower Company agrees to pay (i) to the Revolving Loan Administrative Agent for the account of each Facility A Lender Revolving Loan Lender, for the period (including any portion thereof when any of its Commitments are suspended by reason of the Borrowers’ inability to satisfy any condition of Article V) commencing on the Closing Date and continuing through the Revolving Loan Commitment Termination Date, a Commitment Fee, at a rate per annum commitment fee in an amount equal to the Applicable Commitment Fee Rate for Facility AMargin, in each case on the daily average of such Facility A Lender’s Unused Revolving Loan Percentage of the sum of the average daily unused portion of the Revolving Loan Commitment for Facility A from Amount (net of Letter of Credit Outstandings). The making of Swing Line Loans shall not constitute usage of the date hereof to and including the Facility A Termination Date, payable in arrears on each Quarterly Payment Date and on the Facility A Termination Date and (ii) Revolving Loan Commitment with respect to the calculation of commitment fees to be paid by the Borrowers to the Lenders.
(b) The Company agrees to pay to the Term Loan Administrative Agent for the account of each Facility B Revolver Lender Term Loan Lender, for the period (including any portion thereof when any of its Commitments are suspended by reason of the Borrowers’ inability to satisfy any condition of Article V) commencing on the Closing Date and continuing through the Term Loan Commitment Termination Date, a Commitment Fee, at a rate per annum commitment fee in an amount equal to the Applicable Commitment Fee Rate for Facility BMargin, in each case on such Lender’s Term Loan Percentage of the sum of the average daily unused portion of the Term Loan Commitment Amount. All commitment fees payable pursuant to this Section shall be calculated on a year comprised of 360 days and payable by the Company in arrears on the daily average of such Facility B Revolver Lender’s Unused Commitment for Facility B from the date hereof to Closing Date and including the Facility B Termination Date, payable in arrears thereafter on each Quarterly Payment Date, commencing with the first Quarterly Payment Date following the Closing Date, and on the Facility B applicable Commitment Termination Date. All accrued Commitment Fees with respect to Facility A under this Section 2.07 shall be payable on the effective date of any termination of the obligations of the Facility A Lenders to make Facility A Loans hereunder, and all accrued Commitment Fees with respect to Facility B under this Section 2.07 shall be payable to each Facility B Revolver Lender on the effective date of any termination of its obligations to make Facility B Revolver Loans hereunder. The fees payable under this Section 2.07, once paid, shall not be refundable for any reason.
Appears in 1 contract
Sources: Credit Agreement (Ferro Corp)