FACILITY A UNUSED FEE Sample Clauses
FACILITY A UNUSED FEE. The Borrower shall pay the Bank an unused fee calculated as follows: (i) if the Borrowing Base Usage is greater than or equal to 90%, the unused fee is 0.50%; (ii) if the Borrowing Base Usage is greater than or equal to 75% but less than 90%, the unused fee is 0.50%; (iii) if the Borrowing Base Usage is greater than or equal to 50% but less than 75%, the unused fee is 0.375%; and (iv) if the Borrowing Base Usage is less than 50%, the unused fee is 0.375%. The unused fee will be payable quarterly in arrears, commencing March 31, 2001. The unused portion of the Facility A Borrowing Base Amount shall be determined on a daily basis by subtracting from Facility A Borrowing Base Amount the amount of all Facility A Revolving Loans outstanding, and by averaging said daily amounts for the period for which the fee is to be determined. The Borrower hereby authorizes the Bank to debit its account maintained with the Bank for collection of the unused fee.
FACILITY A UNUSED FEE. The Borrower shall pay to the Agent (for the Pro Rata benefit of the Lenders) an unused fee calculated on the unused portion of the Facility A Borrowing Base Amount as follows:
(i) if the Facility A Borrowing Base Usage is greater than or equal to 50%, the unused fee is 0.50%; and (ii) if the Facility A Borrowing Base Usage is less than 50%, the unused fee is 0.375%. The unused fee will be payable quarterly in arrears on the last day of each fiscal quarter, commencing December 31, 2004. The unused portion of the Facility A Borrowing Base Amount shall be determined on a daily basis by subtracting from the Facility A Borrowing Base Amount the Total Outstandings under Facility A, and by averaging said daily amounts for the period for which the fee is to be determined. The Borrower hereby authorizes the Agent to debit its account maintained with the Hibernia for collection of the unused fee.