Common use of Facility Fee; Reductions in Aggregate Commitment Clause in Contracts

Facility Fee; Reductions in Aggregate Commitment. (a) The Borrower agrees to pay to the Agent for the account of each Lender a facility fee ("Facility Fee") in an amount equal to the Applicable Facility Fee Margin per annum times the daily average Commitment of such Lender from the date hereof to and including the Facility Termination Date, payable on each Payment Date hereafter and on the Facility Termination Date. All accrued Facility Fees shall be payable on the effective date of any termination of the obligations of the Lenders to make Loans hereunder. (b) The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in a minimum aggregate amount of $2,000,000 upon at least three (3) Business Days' written notice to the Agent, which notice shall specify the amount of any such reduction; provided, however, that the amount of the Aggregate Commitment may not be reduced below the aggregate principal amount of the outstanding Advances. Such reductions shall be in addition to reductions occurring pursuant to Section 2.7(b). Voluntary commitment reductions pursuant to this Section 2.4(b) shall be applied to the mandatory commitment reductions required to be made pursuant to Section 2.7(a) in direct order of maturity.

Facility Fee; Reductions in Aggregate Commitment. (a) The Borrower agrees to pay to the Agent for the account of each Lender a facility fee ("Facility Fee") in an amount at a per annum rate equal to the Applicable Facility Fee Margin per annum times Rate on the average daily average Commitment amount of such Lender Lender's Commitment (whether used or unused) from the date hereof to and including the Facility Termination Date, payable in arrears on each Payment Date hereafter and on the Facility Termination Date. All accrued Facility Fees shall be payable on the effective date of any termination of the obligations of the Lenders to make Loans hereunder. (b) The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in a the minimum aggregate amount (except as provided in Section 2.18) of $2,000,000 10,000,000 (and in integral multiples of $5,000,000 in excess thereof), upon at least three (3) Business Days' written notice to the Agent, which notice shall specify the amount of any such reduction; provided, howeverPROVIDED, HOWEVER, that except as provided in Section 2.18 hereof, the amount of the Aggregate Commitment may not be reduced below the aggregate principal amount of the outstanding AdvancesAggregate Outstanding Credit Exposure. Such reductions All accrued facility fees shall be payable on the effective date of any termination of the obligations of the Lenders to make Credit Extensions hereunder and, FURTHER PROVIDED, that in addition to reductions occurring no event shall the Aggregate Commitment be reduced below $100,000,000 as a result of any partial reduction pursuant to Section 2.7(b). Voluntary commitment reductions pursuant to this Section 2.4(b) shall be applied to the mandatory commitment reductions required to be made pursuant to Section 2.7(a) in direct order of maturityhereto.

Facility Fee; Reductions in Aggregate Commitment. (a) The Borrower agrees to pay to the Agent for the account of each Lender a facility fee ("Facility Fee") in an amount at a per annum rate equal to the Applicable Facility Fee Margin per annum times Rate on the average daily average Commitment amount of such Lender Lender's Commitment (whether used or unused) from the date hereof to and including the Facility Termination Date, payable in arrears on each Payment Date hereafter and on the Facility Termination Date. All accrued Facility Fees shall be payable on the effective date of any termination of the obligations of the Lenders to make Loans hereunder. (b) The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in a the minimum aggregate amount (except as provided in Section 2.18) of $2,000,000 10,000,000 (and in integral multiples of $5,000,000 in excess thereof), upon at least three (3) Business Days' written notice to the Agent, which notice shall specify the amount of any such reduction; , provided, however, that except as provided in Section 2.18 hereof, the amount of the Aggregate Commitment may not be reduced below the aggregate principal amount of the outstanding AdvancesAggregate Outstanding Credit Exposure. Such reductions All accrued facility fees shall be payable on the effective date of any termination of the obligations of the Lenders to make Credit Extensions hereunder and, further provided, that in addition to reductions occurring no event shall the Aggregate Commitment be reduced below $100,000,000 as a result of any partial reduction pursuant to Section 2.7(b). Voluntary commitment reductions pursuant to this Section 2.4(b) shall be applied to the mandatory commitment reductions required to be made pursuant to Section 2.7(a) in direct order of maturityhereto.