Common use of Delayed Draw Commitment Fee Clause in Contracts

Delayed Draw Commitment Fee. The Borrower agrees to pay to Lenders holding Delayed Draw Term Loan Commitments, commitment fees equal to (A) the average of the daily amount of the undrawn Delayed Draw Term Loan Commitments times (B) 1.00% per annum. All fees referred to in this Section 2.11(c) will be paid to the Administrative Agent at the Payment Office and upon receipt, the Administrative Agent will promptly distribute to each applicable Lender its Pro Rata Share thereof.

Delayed Draw Commitment Fee. The Borrower agrees to shall pay to the Administrative Agent, for the pro rata benefit of the Lenders holding having Delayed Draw Term Loan Commitments, commitment fees a fee equal to (A) the Delayed Draw Commitment Fee Rate times the average of the daily undrawn amount of the undrawn Delayed Draw Term Loan Commitments times (B) 1.00% per annumCommitment for the applicable quarter. All fees referred to Such fee shall be payable quarterly in this Section 2.11(c) will be paid to arrears, on the Administrative Agent at the Payment Office last day of each March, June, September and December until and upon receipt, the Administrative Agent will promptly distribute to each applicable Lender its Pro Rata Share thereoftermination of the Delayed Draw Commitment.