Common use of Delayed Draw Commitment Fee Clause in Contracts

Delayed Draw Commitment Fee. The Borrower shall pay to the Administrative Agent for the account of each Delayed Draw Term Lender in accordance with its Applicable Percentage, a commitment fee (the “Delayed Draw Commitment Fee”) equal to the Applicable Rate times the actual daily amount by which the aggregate Delayed Draw Term Commitments exceeds the Outstanding Amount of Delayed Draw Term Loans. The Delayed Draw Commitment Fee shall accrue at all times from the Closing Date to the Delayed Draw Termination Date, including at any time during which one (1) or more of the conditions in Article IV is not met, and shall be due and payable quarterly in arrears on the last Business Day of each of each May, August, November and February, commencing with the first such date to occur after the Closing Date, and on the Delayed Draw Termination Date. The Delayed Draw Commitment Fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual

Delayed Draw Commitment Fee. The Borrower shall pay to the Administrative Agent for the account of each Delayed Draw Term Lender in accordance with its Applicable Percentage, a commitment fee (the “Delayed Draw Commitment Fee”) equal to the Applicable Rate times the actual daily amount by which the aggregate Delayed Draw Term Commitments exceeds the Outstanding Amount of Delayed Draw Term Loans. The Delayed Draw Commitment Fee shall accrue at all times from the Closing Date to the Delayed Draw Termination Date, including at any time during which one (1) or more of the conditions in Article IV is not met, and shall be due and payable quarterly in arrears on the last Business Day of each of each May, August, November and February, commencing with the first such date to occur after the Closing Date, and on the Delayed Draw Termination Date. The Delayed Draw Commitment Fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actualactual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.