Common use of Commitment Fees Clause in Contracts

Commitment Fees. The Borrower agrees to pay to the Administrative Agent the following commitment commission (each a “Commitment Fee”): (i) for the account of each Tranche A Lender, a commitment fee for the Tranche A Construction Loan Availability Period, computed at a rate equal to 0.75% per annum on the daily average amount of the Unutilized Commitment of such Lender in respect of the Tranche A Construction Facility during such period, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche A Construction Loan Availability Period; (ii) for the account of each Tranche B Lender, a commitment fee for the Tranche B Construction Loan Availability Period, computed at a rate equal to 0.75% per annum on the daily average amount of the Unutilized Commitment of such Lender in respect of the Tranche B Construction Facility during such period, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche B Construction Loan Availability Period; and (iii) for the account of the Revolver Lenders, a commitment fee for the Revolving Loan Availability Period equal to the sum of (x) 0.75% per annum on the daily average Unutilized Commitment of such Lender in respect of the Revolving Facility plus (y) prior to the Term Conversion Date, 0.50% per annum on daily average Unavailable Commitment of such Lender in respect of the Revolving Facility, in each case, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Revolver Availability Period.

Appears in 2 contracts

Sources: Credit Agreement (NRG Yield, Inc.), Credit Agreement (NRG Yieldco, Inc.)

Commitment Fees. The Borrower Company agrees to pay to the Administrative Agent the following commitment commission (each a “Commitment Fee”): Agent, for distribution to (i) each Lender having a Revolving Loan Commitment in proportion to that Lender's Pro Rata Share, commitment fees for the account 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 aggregate principal amount of outstanding Revolving Loans and Letter of Credit Usage (but not any outstanding Swing Line Loans) MULTIPLIED BY the Applicable Commitment Fee Percentage and (ii) each Lender having a Tranche A Term Loan Commitment in proportion to that Lender's Pro Rata Share, a commitment fee fees for the period from and including the Closing Date to and excluding the Tranche A Construction Term Loan Availability Period, computed at a rate Commitment Termination Date equal to 0.75% per annum on the daily average amount of the Unutilized Commitment of such Lender in respect any undrawn portion of the Tranche A Construction Facility during Term Loan Commitments that is available for borrowing as Delayed-Draw Term Loans MULTIPLIED BY the Applicable Commitment Fee Percentage, each such periodcommitment fees to 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 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 hereof to occur after the Closing Date, and payable in arrears on (A) each Semi-Annual the Revolving Loan Commitment Termination Date and (B) the last day of or the Tranche A Construction Term Loan Availability Period; (ii) for the account of each Tranche B Lender, a commitment fee for the Tranche B Construction Loan Availability Period, computed at a rate equal to 0.75% per annum on the daily average amount of the Unutilized Commitment of such Lender in respect of the Tranche B Construction Facility during such period, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche B Construction Loan Availability Period; and (iii) for the account of the Revolver Lenders, a commitment fee for the Revolving Loan Availability Period equal to the sum of (x) 0.75% per annum on the daily average Unutilized Commitment of such Lender in respect of the Revolving Facility plus (y) prior to the Term Conversion Termination Date, 0.50% per annum on daily average Unavailable Commitment of such Lender in respect of as the Revolving Facility, in each case, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Revolver Availability Periodcase may be.

Appears in 2 contracts

Sources: Credit Agreement (Alliance Imaging Inc /De/), Credit Agreement (Alliance Imaging Inc /De/)

Commitment Fees. The Borrower agrees to pay to the Administrative Agent the following commitment commission (each a “Commitment Fee”): (i) for the account of each Tranche A Lender, Lender a commitment fee for fee, which shall accrue at the Tranche A Construction Loan Availability Period, computed at a rate equal to 0.75% per annum Applicable Percentage (determined quarterly in accordance with Schedule I) on the average daily average amount of the Unutilized unused Revolving Commitment of such Lender during the Availability Period; provided, that if such Lender continues to have any Revolving Credit Exposure after the Commitment 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 respect 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 fiscal quarter of the Tranche A Construction Facility during such periodBorrower and on the Commitment Termination Date, commencing on the first such date hereof and after the Closing Date; provided that any commitment fees accruing after the Commitment Termination Date shall be payable in arrears on (A) demand. For purposes of computing commitment fees with respect to the Revolving Commitments, the Revolving Commitment of each Semi-Annual Date and (B) Lender shall be deemed used to the last day extent of the Tranche A Construction Loan Availability Period; (ii) for the account of each Tranche B Lender, a commitment fee for the Tranche B Construction Loan Availability Period, computed at a rate equal to 0.75% per annum on the daily average amount of the Unutilized Commitment outstanding Revolving Loans and LC Exposure of such Lender in respect of the Tranche B Construction Facility during such period, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche B Construction Loan Availability Period; and (iii) for the account of the Revolver Lenders, a commitment fee for the Revolving Loan Availability Period equal to the sum of (x) 0.75% per annum on the daily average Unutilized Commitment of such Lender in respect but outstanding Swingline Loans shall not be deemed usage of the Revolving Facility plus (y) prior to the Term Conversion Date, 0.50% per annum on daily average Unavailable Commitment of such Lender in respect of the Revolving Facility, in each case, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Revolver Availability PeriodLender).

Appears in 2 contracts

Sources: Revolving Credit Agreement (Watsco Inc), Revolving Credit Agreement (Watsco Inc)

Commitment Fees. The Borrower agrees to (a) Bidco will pay or procure the payment by the Borrowers to the Administrative Facility Agent for the following account of Lenders of a commitment commission (each a “Commitment Fee”):fee on the Revolving Facility and the Bonding Facility which will: (i) for the account of each Tranche A Lender, a commitment fee for the Tranche A Construction Loan Availability Period, be computed at a the rate equal to which is the lower of (A) 0.75% per annum on the daily average amount of the Unutilized Commitment of such Lender in respect of the Tranche A Construction Facility during such period, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) 50% of the applicable Margin, on the daily, undrawn, uncancelled amount of the total Revolving Commitments or the total Bonding Commitments (as the case may be) from the Completion Date until the last day of the Tranche A Construction Loan Availability Period; (ii) for the account of each Tranche B Lender, a commitment fee for the Tranche B Construction Loan Availability Period, computed at a rate equal to 0.75% per annum on the daily average amount of the Unutilized Commitment of such Lender in respect of the Tranche B Construction Facility during such period, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche B Construction Loan Availability Period; and (iii) for the account of the Revolver Lenders, a commitment fee for the Revolving Loan Availability Period equal to the sum of (x) 0.75% per annum on the daily average Unutilized Commitment of such Lender in respect of the Revolving Facility plus or the Bonding Facility (yas the case may be); and (ii) prior be payable quarterly in arrears and on the Revolving Facility Maturity Date or the Bonding Facility Maturity Date (as the case may be) and the cancelled amount of the relevant Lender’s Revolving Commitment or Bonding Commitment (as the case may be) at the time cancellation is effective. (b) Bidco will pay or procure the payment by the Borrowers to the Facility Agent for the account of the Lenders of a commitment fee on the Term Conversion DateFacilities which will: (i) be computed as follows: (A) subject to paragraph (B) below, for the period commencing on the earlier of (1) the date on which all the conditions precedent referred to in Clause 4.1 (Initial Conditions Precedent) other than the condition set out in paragraph 11 (Consents and Filings) of Part B of Schedule 3 (Acquisition Documentary Conditions Precedent) have been satisfied and (2) 30 September 2005 and ending on the Completion Date at the rate of 0.50% per annum annum; (B) if the Completion Date has not occurred by 30 September 2005, for the period commencing from 30 September 2005 and ending on daily average Unavailable Commitment the Completion Date, at the rate of such Lender in respect 50% of the Revolving applicable Margin; and (C) for the period commencing from the Completion Date and ending on the last day of the Availability Period for the relevant Term Facility, at the rate of 0.50% per annum, in each case, commencing on the date hereof and daily, undrawn, uncancelled amount of the total Commitments for the relevant Term Facility; and (ii) be payable in arrears on as follows: (A) each Semi-Annual Date in the case of the commitment fees payable pursuant to paragraphs (i)(A) and (B) above, on the Completion Date; (B) in the case of the commitment fee payable pursuant to paragraph (i)(C) above, quarterly in arrear and on the last day of the Revolver Availability PeriodPeriod for the relevant Term Facility; and (C) in any event, on the cancelled amount of the relevant Lender’s Commitment for the relevant Term Facility at the time the cancellation is effective or if later, the Completion Date. (c) The commitment fees payable under this Clause 10.1 (Commitment Fees) will each accrue from day to day and will be calculated on the basis of a 360 day year and the actual number of days elapsed. No commitment fees shall be payable in the event that the Completion Date does not occur.

Appears in 2 contracts

Sources: Loan Agreement (Elster Group SE), Loan Agreement (Elster Group SE)

Commitment Fees. The (a) Borrower agrees to shall pay to the Administrative Agent the following commitment commission (each a “Commitment Fee”): (i) for the account of each Tranche A Lender, a Revolving Loan Lender revolving loan commitment fee fees for the Tranche A Construction period from May 20, 1997 to and including the Revolving Loan Availability Period, computed Termination Date at a rate per annum equal to 0.75% per annum 0.375%. Such revolving loan commitment fees shall be computed (on the daily average basis of the actual number of days elapsed in a year composed of 360 days) on each day and shall be based on the excess of (x) the aggregate amount of each Revolving Loan Lender's Revolving Loan Commitment for such day over (y) the Unutilized Commitment sum of (i) the aggregate unpaid principal balance of such Lender's Revolving Note on such day plus (ii) the aggregate Letter of Credit Liabilities as to such Lender in respect of the Tranche A Construction Facility during for such period, commencing on the date hereof and day. Accrued revolving loan commitment fees shall be payable in arrears on (A) each Semi-Annual the Quarterly Dates prior to the Revolving Loan Termination Date and (B) on the last day of the Tranche A Construction Revolving Loan Availability Period;Termination Date. (iib) Borrower shall pay to Agent for the account of each Tranche B Lender, a Advance Loan Lender advance loan commitment fee fees for the Tranche B Construction period from May 20, 1997 to and including the Advance Loan Availability Period, computed Termination Date at a rate per annum equal to 0.75% per annum 0.25%. Such advance loan commitment fees shall be computed (on the daily average basis of the actual number of days elapsed in a year composed of 360 days) on each day and shall be based on the excess of (x) the aggregate amount of each Advance Loan Lender's Advance Loan Commitment for such day over (y) the Unutilized Commitment aggregate unpaid principal balance of such Lender in respect of the Tranche B Construction Facility during Lender's Advance Notes on such period, commencing on the date hereof and day. Accrued advance loan commitment fees shall be payable in arrears on (A) each Semi-Annual the Quarterly Dates prior to the Advance Loan Termination Date and (B) on the last day of the Tranche B Construction Advance Loan Availability Period; andTermination Date. (iiic) Concurrently with each Advance Loan made prior to November 20, 1997, Borrower shall pay to Agent for the account of the Revolver Lenders, a commitment each Advance Loan Lender an additional advance loan fee for the Revolving Loan Availability Period in an amount equal to the sum of (x) 0.75Advance Loan made by such Advance Loan Lender times 0.125% per annum on calculated for a period equal to the daily average Unutilized Commitment number of days from May 20, 1997 through the date of such Advance Loan. Concurrently with each Advance Loan made on or after November 20, 1997, Borrower shall pay to Agent for the account of each Advance Loan Lender an additional advance loan fee in respect of the Revolving Facility plus (y) prior an amount equal to the Term Conversion Date, 0.50% per annum on daily average Unavailable Commitment of Advance Loan made by such Advance Loan Lender in respect of times 0.0625%. (d) All past due fees payable under this Section shall bear interest at the Revolving Facility, in each case, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Revolver Availability PeriodPast Due Rate.

Appears in 2 contracts

Sources: Loan Agreement (Carrols Corp), Loan Agreement (Carrols Corp)

Commitment Fees. The Borrower agrees to pay (i) to the Administrative Agent the following commitment commission (each a “Commitment Fee”): (i) for the account of each Tranche Facility A LenderLender a Commitment Fee, a commitment fee for the Tranche A Construction Loan Availability Period, computed at a rate per annum equal to 0.75% per annum the Applicable Commitment Fee Rate for Facility A, on the daily average amount of the Unutilized Commitment of such Lender in respect of the Tranche Facility A Construction Lender’s Unused Commitment for Facility during such period, commencing on A from the date hereof to and including the Facility A Termination Date, payable in arrears on (A) each Semi-Annual Quarterly Payment Date and on the Facility A Termination Date and (B) the last day of the Tranche A Construction Loan Availability Period; (ii) to the Administrative Agent for the account of each Tranche Facility B LenderRevolver Lender a Commitment Fee, a commitment fee for the Tranche B Construction Loan Availability Period, computed at a rate per annum equal to 0.75% per annum the Applicable Commitment Fee Rate for Facility B, on the daily average amount of the Unutilized Commitment of such Lender in respect of the Tranche Facility B Construction Revolver Lender’s Unused Commitment for Facility during such period, commencing on B from the date hereof to and including the Facility B Termination Date, payable in arrears on (A) each Semi-Annual Quarterly Payment Date and (B) on the last day 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 Tranche B Construction Loan Availability Period; and (iii) for the account 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 Lenders, a commitment fee for the Revolving Loan Availability Period equal to the sum of (x) 0.75% per annum Lender on the daily average Unutilized Commitment effective date of such Lender in respect any termination of the Revolving its obligations to make Facility plus (y) prior to the Term Conversion DateB Revolver Loans hereunder. The fees payable under this Section 2.07, 0.50% per annum on daily average Unavailable Commitment of such Lender in respect of the Revolving Facilityonce paid, in each case, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Revolver Availability Periodshall not be refundable for any reason.

Appears in 2 contracts

Sources: Credit Agreement (Lennar Corp /New/), Credit Agreement (Lennar Corp /New/)

Commitment Fees. (a) The Borrower agrees to shall pay to the Administrative Agent Tranche A Lenders a commitment fee (the following commitment commission (each a Tranche A Commitment Fee”): (i) for the account period commencing on the earlier of each Tranche A Lender, a commitment fee for the date of the Borrower’s acceptance of the Commitment Letter and the Filing Date to the Termination Date or the earlier date of termination of the Tranche A Construction Loan Availability PeriodCommitment, computed (on the basis of the actual number of days elapsed over a year of 360 days) at a the rate equal to 0.75% of three-eighths of one percent (3/8%) per annum on the average daily average 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 Unutilized Commitment of such Lender in respect of Total Tranche A Commitment. (b) The Borrower shall pay to the Tranche A Construction Facility during such period, B Lenders a commitment fee (the “Tranche B Commitment Fee”) for the period commencing on the earlier of the date hereof of the Borrower’s acceptance of the Commitment Letter and payable in arrears on the Filing Date to the earlier of (Ai) each Semi-Annual the Termination Date and (Bii) the last day of the Tranche A Construction Loan Availability Period; (ii) for the account of each Tranche B Lender, a commitment fee for date on which the Tranche B Construction Loan Availability Periodis funded, computed (on the basis of the actual number of days elapsed over a year of 360 days) at a the rate equal to 0.75% of three-eighths of one percent (3/8%) per annum on the daily average 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 each month, (x) on the Unutilized Commitment of such Lender in respect of date on which the Tranche B Construction Facility during such periodLoan is funded, commencing (y) on the date hereof and payable in arrears on (A) each Semi-Annual Termination Date and (Bz) the last day as provided in Section 2.12 hereof, upon any reduction or termination in whole or in part of the Total Tranche B Construction Loan Availability Period; and (iii) for the account of the Revolver Lenders, a commitment fee for the Revolving Loan Availability Period equal to the sum of (x) 0.75% per annum on the daily average Unutilized Commitment of such Lender in respect of the Revolving Facility plus (y) prior to the Term Conversion Date, 0.50% per annum on daily average Unavailable Commitment of such Lender in respect of the Revolving Facility, in each case, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Revolver Availability PeriodCommitment.

Appears in 1 contract

Sources: Revolving Credit, Term Loan and Guaranty Agreement (Delphi Corp)

Commitment Fees. The (i) Borrower 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 the following Revolving Loan Commitments, commitment commission (each a “Commitment Fee”): (i) fees for the account period from and including the Effective 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 Total 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 Tranche A LenderMarch, a commitment fee for the Tranche A Construction Loan Availability PeriodJune, computed at a rate equal to 0.75% per annum on the daily average amount September and December of the Unutilized Commitment of such Lender in respect of the Tranche A Construction Facility during such period, each year commencing on the first such date hereof to occur after the Effective Date, and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche A Construction Revolving Loan Availability Period;Commitment Termination Date. (ii) Borrower 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 Term Loan Commitments, commitment fees for the account of each Tranche B Lender, a commitment fee for period from and including the Tranche B Construction Effective Date to and excluding the Delayed Draw Term Loan Availability Period, computed at a rate Commitment Termination Date equal to 0.75% per annum any undrawn portion of the 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 daily average amount basis of a 360-day year and the Unutilized Commitment actual number of such Lender in respect of the Tranche B Construction Facility during such period, commencing on the date hereof days elapsed and to be payable quarterly in arrears on (A) each Semi-Annual Date March 31, 2005 and (B) June 30, 2005 and on the last day of the Tranche B Construction Delayed Draw Term Loan Availability Period; andCommitment Termination Date. (iii) for the account Upon delivery of the Revolver LendersMargin Determination Certificate by Borrower to Administrative Agent pursuant to subsection 6.1(xix), the Commitment Fee Percentage shall automatically be adjusted in accordance with such Margin Determination Certificate, such adjustment to become effective on the next succeeding Margin Reset Date; provided that (1) at any time a commitment fee for Margin Determination Certificate is not delivered at the Revolving Loan Availability Period equal time required pursuant to subsection 6.1(xix), from the sum 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 (2) if a Margin Determination Certificate erroneously indicates an applicable margin (x) 0.75% per annum on more favorable to Borrower than should be afforded by the daily average Unutilized Commitment of such Lender in respect actual calculation of the Revolving Facility plus Consolidated Total Leverage Ratio, Borrower shall promptly pay additional commitment fees to correct for such error, and (y) prior less favorable to Borrower than should be afforded by the Term Conversion Date, 0.50% per annum on daily average Unavailable Commitment of such Lender in respect actual calculation of the Revolving FacilityConsolidated Total Leverage Ratio, in each case, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Revolver Availability PeriodLenders shall promptly reimburse Borrower an amount equal to such excess commitment fees to correct for such error.

Appears in 1 contract

Sources: Credit Agreement (Isle of Capri Casinos Inc)

Commitment Fees. (a) The Borrower Company agrees to pay to the Revolving Loan Administrative Agent the following commitment commission (each a “Commitment Fee”): (i) for the account of each Tranche A 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 for the Tranche A Construction Loan Availability Period, computed at a rate in an amount equal to 0.75% per annum the Applicable Commitment Fee Margin, in each case on the daily average amount such Lender’s Revolving Loan Percentage of the Unutilized Commitment of such Lender in respect sum of the Tranche A Construction Facility during such period, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day average daily unused portion of the Tranche A Construction Revolving Loan Availability Period;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. (iib) The Company agrees to pay to the Term Loan Administrative Agent for the account of each Tranche B 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 for the Tranche B Construction Loan Availability Period, computed at a rate in an amount equal to 0.75% per annum the Applicable Commitment Fee Margin, in each case on the daily average amount such Lender’s Term Loan Percentage of the Unutilized Commitment of such Lender in respect sum of the Tranche B Construction Facility during such period, commencing average daily unused portion of the Term Loan Commitment Amount. All commitment fees payable pursuant to this Section shall be calculated on the date hereof a year comprised of 360 days and payable by the Company in arrears on (A) each Semi-Annual the Closing Date and (B) thereafter on each Quarterly Payment Date, commencing with the last day of first Quarterly Payment Date following the Tranche B Construction Loan Availability Period; and (iii) for the account of the Revolver LendersClosing Date, a commitment fee for the Revolving Loan Availability Period equal to the sum of (x) 0.75% per annum and on the daily average Unutilized applicable Commitment of such Lender in respect of the Revolving Facility plus (y) prior to the Term Conversion Termination Date, 0.50% per annum on daily average Unavailable Commitment of such Lender in respect of the Revolving Facility, in each case, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Revolver Availability Period.

Appears in 1 contract

Sources: Credit Agreement (Ferro Corp)

Commitment Fees. The Borrower agrees to shall pay to to: (a) the Administrative Agent Tranche A Lenders a commitment fee (the following commitment commission (each a Tranche A Commitment Fee”): (i) for the account period commencing on the Effective Date to the Termination Date or the earlier date of each Tranche A Lender, a commitment fee for termination of the Tranche A Construction Loan Availability PeriodCommitment, computed (on the basis of the actual number of days elapsed over a year of 360 days) at a the rate equal to 0.75% of one percent (1.0%) per annum on the average daily average amount Unused Total Tranche A Commitment. The 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 Unutilized Commitment of such Lender in respect Total Tranche A Commitment; and (b) subject to entry by the Bankruptcy Court of the Supplemental Approval Order, the Tranche A Construction Facility during such period, C Lenders holding Subsequent Tranche C Commitments a commitment fee (the “Tranche C Commitment Fee”) for the period commencing on the Effective Date to the Subsequent Tranche C Commitment Termination Date or the earlier date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of termination of the Subsequent Tranche A Construction Loan Availability Period; (ii) for the account of each Tranche B Lender, a commitment fee for the Tranche B Construction Loan Availability PeriodC Commitment, computed (on the basis of the actual number of days elapsed over a year of 360 days) at a the rate equal to 0.75% of two and five-eighths percent (2.625%) per annum on the daily average amount of the Unutilized Subsequent Tranche C Commitment. The Tranche C Commitment of such Lender in respect of the Tranche B Construction Facility during such periodFee, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche B Construction Loan Availability Period; and (iii) for the account of the Revolver Lenders, a commitment fee for the Revolving Loan Availability Period equal to the sum of extent then accrued and approved by the Bankruptcy Court as set forth in the Supplemental Approval Order, shall be payable (x) 0.75% per annum on the daily average Unutilized Commitment of such Lender in respect funding date of the Revolving Facility plus Subsequent Tranche C Loan and (y) prior to the Term Conversion Dateas provided in Section 2.12 hereof, 0.50% per annum on daily average Unavailable Commitment of such Lender upon any reduction or termination in respect whole or in part of the Revolving Facility, in each case, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Revolver Availability PeriodTotal Subsequent Tranche C Commitment.

Appears in 1 contract

Sources: Revolving Credit, Term Loan and Guaranty Agreement (Delphi Corp)

Commitment Fees. (a) The Borrower agrees to Owner shall pay to the Administrative Agent Lender a commitment fee (the following commitment commission (each a Tranche A Commitment Fee”): (i) for the account of each Tranche A Lender, a commitment fee for the Tranche A Construction Loan Availability Period, computed at a rate equal to 0.75% per annum on the daily average amount of the Unutilized unutilized Tranche A Commitment, for the period from and including the Effective Date to but excluding the Commitment of such Lender in respect of Termination Date, at a rate per annum equal to the Tranche A Construction Facility during such period, commencing Commitment Fee Rate (calculated on the date hereof basis of a year of 360 days and actual number of days elapsed, including the first day but excluding the last day). Accrued Tranche A Commitment Fees shall be payable in arrears (a) quarterly on (A) each Semi-Annual Payment Date and (Bb) on the last day of the Tranche A Construction Loan Availability Period;Commitment Termination Date. (iib) for The Owner shall pay to the account of each Tranche B Lender, Lender a commitment fee for (the Tranche B Construction Loan Availability Period, computed at a rate equal to 0.75% per annum Commitment Fee”) on the daily average amount of the Unutilized unutilized Tranche B Commitment, for the period from and including the Effective Date to but excluding the Commitment of such Lender in respect of Termination Date, at a rate per annum equal to the Tranche B Construction Facility during such period, commencing Commitment Fee Rate (calculated on the date hereof basis of a year of 360 days and actual number of days elapsed, including the first day but excluding the last day). Accrued Tranche B Commitment Fees shall be payable in arrears (a) quarterly on (A) each Semi-Annual Payment Date and (Bb) on the last day Commitment Termination Date. (c) On the Commitment Termination Date, the Owner shall pay to the Lender an additional commitment fee in an amount equal to 1.00% of the Tranche B Construction Loan Availability Period; and (iii) for the account unutilized Commitment of the Revolver Lenders, a commitment fee for the Revolving Loan Availability Period equal to the sum of (x) 0.75% per annum on the daily average Unutilized Commitment of such Lender in respect of the Revolving Facility plus (y) prior to the Term Conversion Date, 0.50% per annum on daily average Unavailable Commitment of such Lender in respect of the Revolving Facility, in each case, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Revolver Availability PeriodLender.

Appears in 1 contract

Sources: Loan Agreement (Aspirational Consumer Lifestyle Corp.)

Commitment Fees. The Borrower Company agrees to pay (i) to the Administrative Agent the following commitment commission (each a “Commitment Fee”): (i) for the account of each Tranche Facility A LenderLender a Commitment Fee, a commitment fee for the Tranche A Construction Loan Availability Period, computed at a rate per annum equal to 0.75% per annum the Applicable Commitment Fee Rate for Facility A, on the daily average amount of the Unutilized Commitment of such Lender in respect of the Tranche Facility A Construction Lender's Unused Commitment for Facility during such period, commencing on A from the date hereof to and including the Facility A Termination Date, payable in arrears on (A) each Semi-Annual Quarterly Payment Date and on the Facility A Termination Date and (B) the last day of the Tranche A Construction Loan Availability Period; (ii) to the Administrative Agent for the account of each Tranche Facility B LenderRevolver Lender a Commitment Fee, a commitment fee for the Tranche B Construction Loan Availability Period, computed at a rate per annum equal to 0.75% per annum the Applicable Commitment Fee Rate for Facility B, on the daily average amount of the Unutilized Commitment of such Lender in respect of the Tranche Facility B Construction Revolver Lender's Unused Commitment for Facility during such period, commencing on B from the date hereof to and including the Facility B Termination Date, payable in arrears on (A) each Semi-Annual Quarterly Payment Date and (B) on the last day 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 Tranche B Construction Loan Availability Period; and (iii) for the account 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 Lenders, a commitment fee for the Revolving Loan Availability Period equal to the sum of (x) 0.75% per annum Lender on the daily average Unutilized Commitment effective date of such Lender in respect any termination of the Revolving its obligations to make Facility plus (y) prior to the Term Conversion DateB Revolver Loans hereunder. The fees payable under this Section 2.07, 0.50% per annum on daily average Unavailable Commitment of such Lender in respect of the Revolving Facilityonce paid, in each case, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Revolver Availability Periodshall not be refundable for any reason.

Appears in 1 contract

Sources: Credit Agreement (Lennar Corp /New/)

Commitment Fees. The Borrower agrees to shall pay to the Administrative Agent the following commitment commission (each a “Commitment Fee”):to: (ia) the Tranche A Lenders a commitment fee (the Tranche A Commitment Fee ) for the account period commencing on the Effective Date to the Termination Date or the earlier date of each Tranche A Lender, a commitment fee for termination of the Tranche A Construction Loan Availability PeriodCommitment, computed (on the basis of the actual number of days elapsed over a year of 360 days) at a the rate equal to 0.75% of one percent (1.0%) per annum on the average daily average amount Unused Total Tranche A Commitment. The 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 Unutilized Commitment of such Lender in respect Total Tranche A Commitment; and (b) subject to entry by the Bankruptcy Court of the Supplemental Approval Order, the Tranche A Construction Facility during such period, C Lenders holding Subsequent Tranche C Commitments a commitment fee (the Tranche C Commitment Fee ) for the period commencing on the Effective Date to the Subsequent Tranche C Commitment Termination Date or the earlier date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of termination of the Subsequent Tranche A Construction Loan Availability Period; (ii) for the account of each Tranche B Lender, a commitment fee for the Tranche B Construction Loan Availability PeriodC Commitment, computed (on the basis of the actual number of days elapsed over a year of 360 days) at a the rate equal to 0.75% of two and five-eighths percent (2.625%) per annum on the daily average amount of the Unutilized Subsequent Tranche C Commitment. The Tranche C Commitment of such Lender in respect of the Tranche B Construction Facility during such periodFee, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche B Construction Loan Availability Period; and (iii) for the account of the Revolver Lenders, a commitment fee for the Revolving Loan Availability Period equal to the sum of extent then accrued and approved by the Bankruptcy Court as set forth in the Supplemental Approval Order, shall be payable (x) 0.75% per annum on the daily average Unutilized Commitment of such Lender in respect funding date of the Revolving Facility plus Subsequent Tranche C Loan and (y) prior to the Term Conversion Dateas provided in Section 2.12 hereof, 0.50% per annum on daily average Unavailable Commitment of such Lender upon any reduction or termination in respect whole or in part of the Revolving Facility, in each case, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Revolver Availability PeriodTotal Subsequent Tranche C Commitment.

Appears in 1 contract

Sources: Revolving Credit, Term Loan and Guaranty Agreement

Commitment Fees. The Borrower agrees to pay to the Administrative Agent the following commitment commission (each a “Commitment Fee”): (i) for the account of On each Tranche A Lender, a commitment fee for Quarterly Date during the Tranche A Construction Loan Availability Period, computed at a rate equal to 0.75% per annum on the daily average amount of the Unutilized Commitment Period (where all or any portion of such Lender in respect of calendar quarter occurs on or after the Tranche A Construction Facility during such period, commencing Closing Date) and on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche A Construction Loan Availability Period;Maturity Date, Borrower shall pay to Administrative Agent, for the benefit of the Tranche A Lenders, accruing from the Closing Date or the first day of such quarter, as the case may be, Tranche A Construction Loan commitment fees for such quarter (or portion thereof) then ending equal to the product of (x) 0.75% times (y) the daily average Available Tranche A Construction Loan Commitment for such quarter (or portion thereof) times (z) a fraction, the numerator of which is the number of days in such quarter (or portion thereof) and the denominator of which is 360. (ii) for the account of On each Tranche B Lender, a commitment fee for Quarterly Date during the Tranche B Construction Loan Availability Period, computed at a rate equal to 0.75% per annum on the daily average amount of the Unutilized Commitment Period (where all or any portion of such Lender in respect of calendar quarter occurs on or after the Tranche B Construction Facility during such period, commencing Closing Date) and on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche B Construction Loan Availability Period; and (iii) Maturity Date, Borrower shall pay to Administrative Agent, for the account benefit of the Revolver Tranche B Lenders, a accruing from the Closing Date or the first day of such quarter, as the case may be, Tranche B Construction Loan commitment fee fees for the Revolving Loan Availability Period such quarter (or portion thereof) then ending equal to the sum product of (x) 0.75% per annum on times (y) the daily average Unutilized Available Tranche B Construction Loan Commitment for such quarter (or portion thereof) times (z) a fraction, the numerator of which is the number of days in such quarter (or portion thereof) and the denominator of which is 360. (iii) (x) Prior to December 31, 2011, on each Quarterly Date during the Tranche C Loan Availability Period (where all or any portion of such Lender in respect calendar quarter occurs on or after the Closing Date), Borrower shall pay to Administrative Agent, for the benefit of the Revolving Facility plus (y) prior to Tranche C Lenders, accruing from the Term Conversion Date, 0.50% per annum on daily average Unavailable Commitment Closing Date or the first day of such Lender in respect quarter, as the case may be, commitment fees for such quarter (or portion thereof) then ending equal the product of the Revolving Facility, in each case, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and 0.75% times (B) the last daily average Available Tranche C Loan Commitment for such quarter (or portion thereof) times (C) a fraction, the numerator of which is the number of days in such quarter (or portion thereof) and the denominator of which is 360 and (y) after December 31, 2011, on each Quarterly Date during the Tranche C Loan Availability Period occurring after December 31, 2011, Borrower shall pay to Administrative Agent, for the benefit of the Tranche C Lenders, accruing from the first day of such quarter, commitment fees for such quarter (or portion thereof) then ending equal the Revolver Availability Periodproduct of (A) 1.00% times (B) the daily average Available Tranche C Loan Commitment for such quarter (or portion thereof) times (C) a fraction, the numerator of which is the number of days in such quarter (or portion thereof) and the denominator of which is 360. (iv) On each Quarterly Date from the Closing Date to the LC Facility Maturity Date (where all or any portion of such calendar quarter occurs on or after the Closing Date) and on the LC Facility Maturity Date, Borrower shall pay to Administrative Agent, for the benefit of the LC Lenders, accruing from the Closing Date or the first day of such quarter, as the case may be, Letter of Credit commitment fees for such quarter (or portion thereof) then ending equal to the product of (x) 0.75% times (y) the daily average Available LC Commitment with respect to Letters of Credit for such quarter (or portion thereof) times (z) a fraction, the numerator of which is the number of days in such quarter (or portion thereof) and the denominator of which is 360.

Appears in 1 contract

Sources: Credit Agreement (Macquarie Infrastructure Corp)

Commitment Fees. The Borrower agrees to pay to the Administrative Agent the following commitment commission (each a “Commitment Fee”): (i) for the account of each Tranche of the Lenders in accordance with its pro rata portion of the Revolving Loan Commitment, Term Loan A LenderCommitment and Term Loan B Commitment (i) for all periods from the Agreement Date through the Term Loan Commitment Termination Date, a commitment fee on the aggregate unborrowed balance of the Term Loan A Commitment and Term Loan B Commitment for the Tranche A Construction Loan Availability Period, computed each day at a rate equal to 0.75% forty-five one hundredths of one percent (0.45%) per annum on the daily average amount of the Unutilized Commitment of such Lender in respect of the Tranche A Construction Facility during such periodannum, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche A Construction Loan Availability Period; (ii) for all periods from the account Agreement Date through the fifth (5th) Business Day after delivery of each Tranche B LenderBorrower’s quarterly financial statements for the fiscal quarter ending December 31, 2008 (the “Adjustment Date”), a commitment fee on the aggregate unborrowed balance of the Revolving Loan Commitment for the Tranche B Construction Loan Availability Period, computed each day at a rate equal to 0.75% forty-five one hundredths of one percent (0.45%) per annum on the daily average amount of the Unutilized Commitment of such Lender in respect of the Tranche B Construction Facility during such periodannum, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche B Construction Loan Availability Period; and (iii) for all periods from the account of Adjustment Date through the Revolver Lendersdate upon which all Obligations have repaid and satisfied in full, a commitment fee for on the aggregate unborrowed balance of the Revolving Loan Availability Period Commitment for each day at a rate equal to the sum of (x) 0.75% per annum grid set forth in Section 2.3(f). Each such commitment fee shall be computed on the daily average Unutilized Commitment basis of such Lender in respect a year of three hundred sixty (360) days for the Revolving Facility plus (y) prior to the Term Conversion Dateactual number of days elapsed, 0.50% per annum on daily average Unavailable Commitment of such Lender in respect of the Revolving Facility, in each case, commencing on the date hereof and shall be payable quarterly in arrears on (A) the last Business Day of each Semi-Annual calendar quarter ending on March 31, June 30, September 30 or December 31, commencing with the first quarter ending immediately after the Agreement Date and (Bshall be fully earned when due and non-refundable when paid. The commitment set forth in this Section 2.4(a) shall be subject to increase and decrease on the last day dates and in the amounts set forth in Section 2.3(f) hereof in the same manner as the adjustment of the Revolver Availability PeriodApplicable Margin with upon satisfaction of the requirements set forth in Section 2.3(f) hereof. A final payment of any commitment fee then payable shall also be due and payable on the Term Loan Commitment Termination Date and the Revolving Loan Maturity Date.

Appears in 1 contract

Sources: Loan Agreement (BGF Industries Inc)

Commitment Fees. The Borrower agrees to shall pay to the Administrative Agent the following commitment commission (each a “Commitment Fee”):: (ia) the Tranche A Lenders a commitment fee (the Tranche A Commitment Fee ) for the account period commencing on the Effective Date to the Termination Date or the earlier date of each Tranche A Lender, a commitment fee for termination of the Tranche A Construction Loan Availability PeriodCommitment, computed (on the basis of the actual number of days elapsed over a year of 360 days) at a the rate equal to 0.75% of one percent (1.0%) per annum on the average daily average amount Unused Total Tranche A Commitment. SuchThe 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 Unutilized Commitment of such Lender in respect Total Tranche A Commitment; and (b) subject to entry by the Bankruptcy Court of the Supplemental Approval Order, the Tranche A Construction Facility during such period, C Lenders holding Subsequent Tranche C Commitments a commitment fee (the Tranche C Commitment Fee ) for the period commencing on the Effective Date to the Subsequent Tranche C Commitment Termination Date or the earlier date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of termination of the Subsequent Tranche A Construction Loan Availability Period; (ii) for the account of each Tranche B Lender, a commitment fee for the Tranche B Construction Loan Availability PeriodC Commitment, computed (on the basis of the actual number of days elapsed over a year of 360 days) at a the rate equal to 0.75% of two and five-eighths percent (2.625%) per annum on the daily average amount of the Unutilized Subsequent Tranche C Commitment. The Tranche C Commitment of such Lender in respect of the Tranche B Construction Facility during such periodFee, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche B Construction Loan Availability Period; and (iii) for the account of the Revolver Lenders, a commitment fee for the Revolving Loan Availability Period equal to the sum of extent then accrued and approved by the Bankruptcy Court as set forth in the Supplemental Approval Order, shall be payable (x) 0.75% per annum on the daily average Unutilized Commitment of such Lender in respect funding date of the Revolving Facility plus Subsequent Tranche C Loan and (y) prior to the Term Conversion Dateas provided in Section 2.12 hereof, 0.50% per annum on daily average Unavailable Commitment of such Lender upon any reduction or termination in respect whole or in part of the Revolving Facility, in each case, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Revolver Availability PeriodTotal Subsequent Tranche C Commitment.

Appears in 1 contract

Sources: Revolving Credit, Term Loan and Guaranty Agreement

Commitment Fees. The Borrower agrees to pay to the Administrative Agent the following commitment commission (each a “Commitment Fee”): (i) for the account of each Tranche A Lender, a commitment fee for the Tranche A Construction Loan Availability Period, computed at a rate equal to 0.75% per annum on the daily average amount of the Unutilized Commitment of such Lender in respect of the Tranche A Construction Facility during such period, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche A Construction Loan Availability Period; (ii) for the account of each Tranche B Lender, a commitment fee for the Tranche B Construction Loan Availability Period, computed at a rate equal to 0.75% per annum on the daily average amount of the Unutilized Commitment of such Lender in respect of the Tranche B Construction Facility during such period, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche B Construction Loan Availability Period; and% (iii) for the account of the Revolver Lenders, a commitment fee for the Revolving Loan Availability Period equal to the sum of (x) 0.75% per annum on the daily average Unutilized Commitment of such Lender in respect of the Revolving Facility plus (y) prior to the Term Conversion Date, 0.50% per annum on daily average Unavailable Commitment of such Lender in respect of the Revolving Facility, in each case, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Revolver Availability Period.

Appears in 1 contract

Sources: Credit Agreement

Commitment Fees. The Borrower agrees to pay Parent shall pay, or procure that there is paid, to the Administrative Agent the following commitment commission (each a “Commitment Fee”):Agent: Back to Contents (ia) for the account of each Tranche A Lender, a commitment fee for the Tranche A Construction Loan Availability Period, computed at a rate equal to 0.75% per annum on the daily average amount of the Unutilized Commitment of such Lender in respect of the Tranche A Construction Facility during such periodFirst Drawdown Date, commencing on the date hereof 30 September 1999 and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche A Construction Term Loan Availability Period; (ii) for the account of each Tranche B Lender, a commitment fee for the Tranche B Construction Loan Availability Period, computed at a rate equal to 0.75% per annum on the daily average amount of the Unutilized Facility Commitment of such Lender Period in respect of the Tranche B Construction Facility during such period, commencing on Term Loan Facilities (other than the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche B Construction Loan Availability Period; and (iiiTermed Out Revolving Facility) for the account of the Revolver LendersBanks (pro rata their relevant Commitments) commitment commission computed from the date of this Agreement until and including the last day of the Term Loan Facility Commitment Period at the rate, a commitment fee from the date of this Agreement to 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 daily amount of the Total Commitments in respect of the Term Loan Facilities (other than the Termed Out Revolving Facility); (b) on the Effective Date and for the Revolving account of the Banks (pro rata their relevant Commitments) commitment commission computed from the date of the Amendment Agreement until and including the last day of that Term Loan Availability Facility Commitment Period equal to at the sum rate of (x) 0.75% 0.75 per cent. per annum on the daily average Unutilized Commitment amount of such Lender the Total Commitments in respect of the Termed Out Revolving Loan Facility; and (c) on the Effective Date and on the dates falling on each 31 March, 30 June, 30 September and 31 December after the Effective Date and on the Termination Date in respect of the Revolving Credit Facility plus , for the account of the Banks (y) prior to pro rata their relevant Commitments), commitment commission computed from the Term Conversion Date, 0.50% date of the Amendment Agreement at the rate of 0.75 per cent. per annum on the daily average Unavailable Commitment of such Lender amount by which the Total Commitments in respect of the Revolving Facility, in each case, commencing on Credit Facility exceeds the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day aggregate of the Revolver Availability PeriodRevolving Credit Advances and the amount of all outstanding Letters of Credit. If any Drawings are outstanding in an Optional Currency, the amount of such Drawings for the purpose of calculating commitment commission shall be deemed to be the Sterling Amount of such Drawings.

Appears in 1 contract

Sources: Facilities Agreement (Avecia Group PLC)

Commitment Fees. The Borrower agrees to pay to the Administrative Agent the following commitment commission (Agent, for distribution to each a “Commitment Fee”): (i) Revolving Loan Lender in proportion to that Lender’s Pro Rata Share, commitment fees for the account period from and including the date of this Agreement to and excluding the Revolving Loan Commitment Termination Date equal to (x) the average of the daily excess of the Revolving Loan Commitments over the sum of (A) the aggregate principal amount of outstanding Revolving Loans but not the Letter of Credit Usage plus (B) the Letter of Credit Usage multiplied by (y) 1.50% per annum, (ii) each Tranche A TLF I Lender in proportion to that Lender’s Pro Rata Share, a commitment fee fees for the Tranche A Construction Loan Availability Period, computed at a rate period from and including the date that is 30 days after the date of this Agreement to and excluding the TLF I Commitment Termination Date equal to 0.75the average of the daily unused TLF I Commitments multiplied by 2.00% per annum and (iii) each TLF II Lender in proportion to that Lender’s Pro Rata Share, commitment fees for the period from and including the date of this Agreement to and excluding the TLF II Commitment Termination Date equal to the average of the daily unused TLF II Commitments multiplied by 2.00% per annum, in each case such commitment fees to be calculated on the daily average amount basis of a 360-day year and the Unutilized Commitment actual number of such days elapsed, to be paid to each Revolving Loan Lender, TLF I Lender and TLF II Lender in respect of the Tranche A Construction Facility during such periodsame currency as its Revolving Loan Commitment, TLF I Commitment and TLF II Commitment, as the case may be, and to be payable quarterly in arrears on each Quarterly Date, commencing on the first such date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche A Construction Loan Availability Period; (ii) for the account of each Tranche B Lender, a commitment fee for the Tranche B Construction Loan Availability Period, computed at a rate equal to 0.75% per annum on the daily average amount of the Unutilized Commitment of such Lender in respect of the Tranche B Construction Facility during such period, commencing on occur after the date hereof of this Agreement, and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche B Construction Loan Availability Period; and (iii) for the account of the Revolver Lenders, a commitment fee for the Revolving Loan Availability Period equal to the sum of (x) 0.75% per annum on the daily average Unutilized Commitment of such Lender in respect of the Revolving Facility plus (y) prior to the Term Conversion Termination Date, 0.50% per annum on daily average Unavailable the TLF I Commitment of such Lender in respect of Termination Date or the Revolving FacilityTLF II Commitment Termination Date, in each case, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Revolver Availability Periodas applicable.

Appears in 1 contract

Sources: Credit Agreement (Las Vegas Sands Corp)

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 to will pay to the Administrative Agent the following commitment commission (each a “Commitment Fee”): (i) for the account of each Tranche A Lender, Lender a commitment fee for with respect to such Lender’s Tranche A Commitment determined on a daily basis by applying the applicable Commitment Fee Rate to such Lender’s Percentage Share of the unused portion of the Tranche A Construction Loan Availability PeriodFacility Amount on each day, computed at a rate equal to 0.75% per annum on determined for each such day by deducting from the daily average amount of the Unutilized Commitment Borrowing Base at the end of such day the sum of (i) the aggregate unpaid principal balance of the Tranche 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 Closing Date through the Tranche B Commitment Termination Date, Borrower will pay to Administrative Agent for the account of each Lender a commitment fee with respect to such Lender’s Tranche B Commitment determined on a daily basis by applying the 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 Amount 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 Construction Facility during such periodCommitments, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche A Construction Loan Availability Period; (ii) for Commitment Termination Date, and with respect to the account of each Tranche B Lender, a commitment fee for the Tranche B Construction Loan Availability Period, computed at a rate equal to 0.75% per annum on the daily average amount of the Unutilized Commitment of such Lender fees payable in respect of the Tranche B Construction Facility during such periodCommitments, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche B Construction Loan Availability Period; and (iii) for the account of the Revolver Lenders, a commitment fee for the Revolving Loan Availability Period equal to the sum of (x) 0.75% per annum on the daily average Unutilized Commitment of such Lender in respect of the Revolving Facility plus (y) prior to the Term Conversion Termination Date, 0.50% per annum on daily average Unavailable Commitment of such Lender in respect of the Revolving Facility, in each case, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Revolver Availability Period.

Appears in 1 contract

Sources: Credit Agreement (Spinnaker Exploration Co)

Commitment Fees. (i) The Borrower agrees to shall pay to the Administrative Agent for the following ratable account of each Bank with a Revolving Commitment, on the last Business Day of each March, June, September and December and on the earlier of the Maturity Date and the date on which the Aggregate Revolving Commitment shall have been terminated in full, an aggregate commitment commission fee (each a “the "Revolving Commitment Fee”):") on the daily average ------------------------ amount of the Aggregate 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. 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 full. (iii) The Borrower shall pay to the Administrative Agent for the ratable account of each Bank with an Additional Term A Loan Commitment, on the last Business Day of each March, June, September and December and on the earlier of the Maturity Date and the date on which the Additional Term A Commitments shall have been terminated in full, an aggregate commitment fee (the "Term A Commitment Fee") on the --------------------- daily average amount of the aggregate Additional Term A Loan Commitments equal to 0.500% per annum. 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 full. (iii) The Borrower shall pay to the Administrative Agent for the account of each Tranche A LenderBank with an Incremental Revolving Commitment, on the last Business Day of each March, June, September and December and on the earlier of the Maturity Date and the date on which each Incremental Revolving Commitment of a commitment fee Bank shall have been terminated in full, the Incremental Commitment Fee for the Tranche A Construction Loan Availability Period, computed at a rate equal to 0.75% per annum each Incremental Revolving Commitment of such Bank on the daily average amount of the Unutilized Commitment each of such Lender in respect Bank's aggregate unutilized Incremental Revolving Commitments. Each Incremental Commitment Fee shall begin to accrue on and after the date when the related Incremental Revolving Commitment shall have become effective hereunder and shall cease to accrue on the earlier of the Tranche A Construction Facility during such period, commencing on Maturity Date and the date hereof and payable on which such Incremental Revolving Commitment shall have been terminated in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche A Construction Loan Availability Period; (ii) for the account of each Tranche B Lender, a commitment fee for the Tranche B Construction Loan Availability Period, computed at a rate equal to 0.75% per annum on the daily average amount of the Unutilized Commitment of such Lender in respect of the Tranche B Construction Facility during such period, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche B Construction Loan Availability Period; and (iii) for the account of the Revolver Lenders, a commitment fee for the Revolving Loan Availability Period equal to the sum of (x) 0.75% per annum on the daily average Unutilized Commitment of such Lender in respect of the Revolving Facility plus (y) prior to the Term Conversion Date, 0.50% per annum on daily average Unavailable Commitment of such Lender in respect of the Revolving Facility, in each case, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Revolver Availability Periodfull.

Appears in 1 contract

Sources: Credit Agreement (Nexstar Finance Holdings LLC)

Commitment Fees. The Borrower Company agrees to pay to the Administrative Agent the following commitment commission (each a “Commitment Fee”): (i) Agent, for the account of each Tranche A LenderBank, a commitment fee fees with respect to the Revolving Credit Commitment of such Bank for the Tranche A Construction Loan Availability Periodperiod from and including the Closing Date to and including the Revolving Credit Termination Date, computed calculated at a rate equal to 0.75% the following rates per annum on the average daily average amount of the Unutilized Available Revolving Credit Commitment of such Lender in Bank for each day during the period for which the commitment fee with respect to the Revolving Credit Commitments is being paid: (i) if the Applicable Margin Certificate required pursuant to subsection 6.1(c) for any fiscal quarter of the Tranche A Construction Facility during such periodCompany ending after September 30, commencing 1998 shows that the Total Indebtedness/EBITDA Ratio on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche A Construction Loan Availability Period; (ii) for the account of each Tranche B Lender, a commitment fee for the Tranche B Construction Loan Availability Period, computed at a rate such fiscal quarter was less than or equal to 0.75% per annum on 1.5 to 1, then the daily average amount of the Unutilized Commitment of such Lender in respect of the Tranche B Construction Facility during such period, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche B Construction Loan Availability Period; and (iii) for the account of the Revolver Lenders, a commitment fee for the Revolving Loan Availability Period equal Credit Commitment, during the period beginning on (and including) the date on which such Applicable Margin Certificate was delivered by the Company to the sum of Banks and ending on (xand excluding) 0.75% per annum the date on which the daily average Unutilized Commitment of such Lender in respect next Applicable Margin Certificate is delivered by the Company to the Banks pursuant to subsection 6.1(c), shall be .25%; and (ii) if the Applicable Margin Certificate required pursuant to subsection 6.1(c) for any fiscal quarter of the Revolving Facility plus (y) prior to Company ending after September 30, 1998 shows that the Term Conversion Date, 0.50% per annum Total Indebtedness/EBITDA Ratio on daily average Unavailable Commitment of such Lender in respect of the Revolving Facility, in each case, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of such fiscal quarter was greater (iii) if the Revolver Availability PeriodApplicable Margin Certificate required pursuant to subsection 6.1(c) for any fiscal quarter of the Company ending after September 30, 1998 shows that the Total Indebtedness/EBITDA Ratio on the last day of such fiscal quarter was greater than 2.5 to 1, then the commitment fee for the Revolving Credit Commitment, during the period beginning on (and including) the date on which such Applicable Margin Certificate was delivered by the Company to the Banks and ending on (and excluding) the date on which the next Applicable Margin Certificate is delivered by the Company to the Banks pursuant to subsection 6.1(c), shall be .375%; provided if the Company shall fail to deliver the Applicable Margin Certificate by the end of the fiscal quarter in which it is required, the commitment fee for the Revolving Credit Commitment for the next fiscal quarter shall be as provided in clause (iii) above; provided, further, that the commitment fee for the Revolving Credit Commitment for the period from the Closing Date until (and excluding) the date on which the Company delivers to the Banks the Applicable Margin Certificate for the fiscal quarter of the Company ended March 31, 1999 shall be .30%. The commitment fees with respect to the Revolving Credit Commitments shall be payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing September 30, 1998, and on the Revolving Credit Termination Date or such earlier date as the Revolving Credit Commitments shall terminate as provided herein.

Appears in 1 contract

Sources: Credit Agreement (Enterprise Products Partners L P)

Commitment Fees. The Borrower agrees Parent Borrowers jointly and severally agree to pay to the Administrative Agent the following commitment commission (each a “Commitment Fee”): (i) for the account of each Tranche A Lender, Revolving Lender a commitment fee for the Tranche A Construction Loan Availability period from and including the first day of the Revolving Commitment Period to the Revolving Termination Date, computed at a rate equal to the Applicable Rate per annum on the average daily amount of such Revolving Lender'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 which payment is made, payable quarterly in arrears on each Fee Payment Date and on the Revolving Termination Date (or such earlier date on which the Revolving Loans become due and 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 Term Lender a commitment fee for the period from and including the first day of the Term Commitment Period to the last day of the Term Commitment Period, computed at a rate equal to 0.75% the Applicable Rate per annum on the average daily average amount of the Unutilized such Lender's Term Commitment of such Lender in respect Percentage of the Tranche A Construction Facility Available Term Commitment during such periodthe period for which payment is made, commencing on the date hereof and payable quarterly in arrears on (A) each Semi-Annual Fee Payment Date and (B) on the last day of the Tranche A Construction Loan Availability Term Commitment Period; (ii) for the account of each Tranche B Lender, a commitment fee for the Tranche B Construction Loan Availability Period, computed at a rate equal to 0.75% per annum on the daily average amount of the Unutilized Commitment of such Lender in respect of the Tranche B Construction Facility during such period, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche B Construction Loan Availability Period; and (iii) for the account of the Revolver Lenders, a commitment fee for the Revolving Loan Availability Period equal to the sum of (x) 0.75% per annum on the daily average Unutilized Commitment first of such Lender in respect of the Revolving Facility plus (y) prior dates to the Term Conversion Date, 0.50% per annum on daily average Unavailable Commitment of such Lender in respect of the Revolving Facility, in each case, commencing on occur after the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Revolver Availability Periodhereof.

Appears in 1 contract

Sources: Credit and Guarantee Agreement (Young & Rubicam Inc)

Commitment Fees. The (i) Borrower 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 the following Revolving Loan Commitments, commitment commission (each a “Commitment Fee”): (i) fees for the account of each Tranche A Lender, a commitment fee for period from and including the Tranche A Construction Closing Date to and excluding the Revolving Loan Availability Period, computed at a rate Commitment Termination Date equal to 0.75% per annum the average of the daily excess of the Revolving Loan Commitments over the Total Utilization of Revolving Loan Commitments (but not any outstanding Swing Line Loans) multiplied by the Commitment Fee Percentage, such commitment fees to be calculated on the daily average amount basis of a 360-day year and the Unutilized Commitment actual number of such Lender in respect of the Tranche A Construction Facility during such period, commencing on the date hereof days elapsed and to be payable quarterly in arrears on (A) each Semi-Annual Date and (B) the last day Business Day of each March, June, September and December of each year commencing on September 28, 2007, and on the Tranche A Construction Revolving Loan Availability Period;Commitment Termination Date. (ii) Borrower agrees to pay to Administrative Agent, for distribution to each Lender having a Delayed Draw Term Loan A Commitment in proportion to that Lender’s Pro Rata Share of the Delayed Draw Term Loan A Commitments, commitment fees for the account of each Tranche B Lender, a commitment fee for period from and including the Tranche B Construction Closing Date to and excluding the Delayed Draw Term Loan Availability Period, computed at a rate A Commitment Termination Date equal to 0.75any undrawn portion of the Delayed Draw Term Loan A Commitments multiplied by 0.50% per annum annum, such commitment fees to be calculated on the daily average amount basis of a 360-day year and the Unutilized Commitment actual number of such Lender in respect of the Tranche B Construction Facility during such period, commencing on the date hereof days elapsed and to be payable quarterly in arrears on (A) each Semi-Annual Date and (B) the last day Business Day of each March, June, September and December of each year commencing on September 28, 2007, and on the Tranche B Construction Delayed Draw Term Loan Availability Period; andA Commitment Termination Date. (iii) for the account Upon delivery of the Revolver LendersMargin Determination Certificate by Borrower to Administrative Agent pursuant to subsection 6.1(xix), the Commitment Fee Percentage shall automatically be adjusted in accordance with such Margin Determination Certificate, such adjustment to become effective on the next succeeding Margin Reset Date; provided that at any time a commitment fee for Margin Determination Certificate is not delivered at the Revolving Loan Availability Period equal time required pursuant to subsection 6.1(xix), from the sum 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 if a Margin Determination Certificate erroneously indicates an applicable margin (x) 0.75% per annum on more favorable to Borrower than should be afforded by the daily average Unutilized Commitment of such Lender in respect actual calculation of the Revolving Facility plus Consolidated Total Leverage Ratio, Borrower shall promptly pay additional commitment fees to correct for such error and (y) less favorable to Borrower than should be afforded by the actual calculation of the Consolidated Total Leverage Ratio, Borrower shall be afforded a credit against future payments of commitment fees on Revolving Loans in an amount equal to any excess so paid (but in no event shall such credit be offset against the principal amount of any Revolving Loans or any other Obligations of Borrower or its Restricted Subsidiaries or be required to be paid by the Revolving Lenders in cash) to correct for such error; provided that in the case of this clause (y), such credit shall only be available to Borrower for any such excess commitment fees paid during the 90 day period prior to the Term Conversion Date, 0.50% per annum on daily average Unavailable Commitment Administrative Agent receiving written notice from Borrower of such Lender an error and such credit shall only be available against the commitment fees payable to Revolving Lenders who received such excess commitment fees (and in respect of any event in an amount no greater than the excess so received by such Revolving Facility, in each case, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Revolver Availability PeriodLenders).

Appears in 1 contract

Sources: Credit Agreement (Isle of Capri Casinos Inc)

Commitment Fees. (a) The Borrower agrees to shall pay to the Administrative Agent Tranche A Lenders a commitment fee (the following commitment commission (each a “"Tranche A Commitment Fee”): (i") for the account period commencing on the Filing Date to the Termination Date or the earlier date of each Tranche A Lender, a commitment fee for termination of the Tranche A Construction Loan Availability PeriodCommitment, computed (on the basis of the actual number of days elapsed over a year of 360 days) at a the rate equal to 0.75% of one-half of one percent (1/2%) per annum on the average daily average 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 Unutilized Commitment of such Lender in respect of Total Tranche A Commitment. (b) The Borrower shall pay to the Tranche A Construction Facility during such period, B Lenders a commitment fee (the "Tranche B Commitment Fee") for the period commencing on the date hereof and payable in arrears on Filing Date to the earlier of (Ai) each Semi-Annual the Termination Date and (Bii) the last day of the Tranche A Construction Loan Availability Period; (ii) for the account of each Tranche B Lender, a commitment fee for date on which the Tranche B Construction Loan Availability Periodis funded, computed (on the basis of the actual number of days elapsed over a year of 360 days) at a the rate equal to 0.75% of one-half of one percent (1/2%) per annum on the daily average 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 each month, (x) on the Unutilized Commitment of such Lender in respect of date on which the Tranche B Construction Facility during such periodLoan is funded, commencing (y) on the date hereof and payable in arrears on (A) each Semi-Annual Termination Date and (Bz) the last day as provided in Section 2.12 hereof, upon any reduction or termination in whole or in part of the Total Tranche B Construction Loan Availability Period; and (iii) for the account of the Revolver Lenders, a commitment fee for the Revolving Loan Availability Period equal to the sum of (x) 0.75% per annum on the daily average Unutilized Commitment of such Lender in respect of the Revolving Facility plus (y) prior to the Term Conversion Date, 0.50% per annum on daily average Unavailable Commitment of such Lender in respect of the Revolving Facility, in each case, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Revolver Availability PeriodCommitment.

Appears in 1 contract

Sources: Revolving Credit, Term Loan and Guaranty Agreement (Collins & Aikman Corp)

Commitment Fees. The Borrower agrees to pay (i) to the Administrative Agent the following commitment commission (each a “Commitment Fee”): (i) for the account of each Tranche Facility A LenderLender a Commitment Fee, a commitment fee for the Tranche A Construction Loan Availability Period, computed at a rate per annum equal to 0.75% per annum the Applicable Commitment Fee Rate for Facility A, on the daily average amount of the Unutilized Commitment of such Lender in respect of the Tranche Facility A Construction Lender’s Unused Commitment for Facility during such period, commencing on A from the date hereof to and including the Facility A Termination Date, payable in arrears on (A) each Semi-Annual Quarterly Payment Date and on the Facility A Table of Contents Termination Date and (B) the last day of the Tranche A Construction Loan Availability Period; (ii) to the Administrative Agent for the account of each Tranche Facility B LenderRevolver Lender a Commitment Fee, a commitment fee for the Tranche B Construction Loan Availability Period, computed at a rate per annum equal to 0.75% per annum the Applicable Commitment Fee Rate for Facility B, on the daily average amount of the Unutilized Commitment of such Lender in respect of the Tranche Facility B Construction Revolver Lender’s Unused Commitment for Facility during such period, commencing on B from the date hereof to and including the Facility B Termination Date, payable in arrears on (A) each Semi-Annual Quarterly Payment Date and (B) on the last day 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 Tranche B Construction Loan Availability Period; and (iii) for the account 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 Lenders, a commitment fee for the Revolving Loan Availability Period equal to the sum of (x) 0.75% per annum Lender on the daily average Unutilized Commitment effective date of such Lender in respect any termination of the Revolving its obligations to make Facility plus (y) prior to the Term Conversion DateB Revolver Loans hereunder. The fees payable under this Section 2.07, 0.50% per annum on daily average Unavailable Commitment of such Lender in respect of the Revolving Facilityonce paid, in each case, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Revolver Availability Periodshall not be refundable for any reason.

Appears in 1 contract

Sources: Credit Agreement (Lennar Corp /New/)

Commitment Fees. OTHER FEES. (a) The Borrower agrees Borrowers agree, jointly and severally, to pay to the Administrative Agent the following commitment commission (each a “Commitment Fee”): (i) for the account of each Tranche A Lender, a commitment fee for the Tranche A Construction Loan Availability Periodperiod from and including the first day of the Revolving Credit Commitment Period to the Revolving Credit Commitment Termination Date, computed at the rate per annum set forth under the heading "Commitment Fees" on Schedule II opposite the percentage which is the average daily amount of the Aggregate Outstanding Revolving Credit of all Lenders during the period for which payment is made constitutes of the average daily amount of the Available Revolving Credit Commitment of such Lender during such payment period, payable quarterly in arrears on the last day of each fiscal quarter of CNG and on the Revolving Credit Commitment Termination Date, commencing on the first of such days to occur after the Closing Date. Notwithstanding the foregoing, the commitment fee for the period from and including the first day of the Eighth Amendment Effective Date until the date on which the Leverage Theshold has been satisfied shall be 0.75% per annum of the average daily amount of the Available Revolving Credit Commitment of such Lender (without any reduction thereof pursuant to the definition of "Available Revolving Credit Commitment") during such period, payable as set forth above. (b) The Borrowers agree, jointly and severally, to pay to the Administrative Agent for the account of each Lender, a rate equal utilization fee for the period from and including the Eighth Amendment Effective Date to 0.75the date on which the Leverage Threshold has been satisfied, (i) if the average daily amount of the aggregate principal amount of all Revolving Credit Loans outstanding during such period is greater than 66-2/3% of the average aggregate Revolving Credit Commitments during such period, computed at 0.50% per annum on the average daily principal amount of such Lender's outstanding Revolving Credit Loans during such period and (ii) if the average daily amount of the Unutilized Commitment aggregate principal amount of such Lender in respect of the Tranche A Construction Facility all Revolving Credit Loans outstanding during such period, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche A Construction Loan Availability Period; (ii) for the account of each Tranche B Lender, a commitment fee for the Tranche B Construction Loan Availability Period, computed at a rate equal to 0.75% per annum on the daily average amount of the Unutilized Commitment of such Lender in respect of the Tranche B Construction Facility during such period, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Tranche B Construction Loan Availability Period; and (iii) for the account of the Revolver Lenders, a commitment fee for the Revolving Loan Availability Period equal to the sum of (x) 0.75% per annum on the daily average Unutilized Commitment of such Lender in respect of the Revolving Facility plus (y) prior to the Term Conversion Date, 0.50% per annum on daily average Unavailable Commitment of such Lender in respect of the Revolving Facility, in each case, commencing on the date hereof and payable in arrears on (A) each Semi-Annual Date and (B) the last day of the Revolver Availability Period.

Appears in 1 contract

Sources: Credit Agreement (Cole National Corp /De/)