Common use of FACILITY USAGE FEES Clause in Contracts

FACILITY USAGE FEES. During the period commencing on the date hereof until the Expiration Date, the Borrower agrees to pay to the Agent for the account of each Bank, a nonrefundable fee (the "Facility Usage Fee") for each day when Revolving Facility Usage exceeds thirty-three and one-third percent (33-1/3%) of the Revolving Credit Commitments in an amount equal to the sum of (i) 0.125% per annum (computed on the basis of a year of 360 days and actual days elapsed) computed on the amount of the Revolving Credit Loans outstanding on such day plus (ii) 0.125% per annum (computed on the basis of a year of 360 days and actual days elapsed) computed on the amount of the Letters of Credit Outstanding on such day plus (iii) 0.125% per annum (computed on the basis of a year of 360 days and actual days elapsed) computed on the amount of the Swing Loans outstanding on such day. The Facility Usage Fee shall be payable quarterly in arrears on the first Business Day of each January, April, July, and October after the date hereof and on the Expiration Date or upon acceleration of the Loans.

FACILITY USAGE FEES. During the period commencing on the date hereof until the Expiration Date, the Borrower agrees to pay to the Agent for the account of each Bank, a nonrefundable fee (the "“Facility Usage Fee"”) for each day when Revolving Facility Usage exceeds thirty-three and one-third percent (33-1/3%) of the Revolving Credit Commitments in an amount equal to the sum of (i) 0.125% per annum (computed on the basis of a year of 360 days and actual days elapsed) computed on the amount of the Revolving Credit Loans outstanding on such day plus (ii) 0.125% per annum (computed on the basis of a year of 360 days and actual days elapsed) computed on the amount of the Letters of Credit Outstanding on such day plus (iii) 0.125% per annum (computed on the basis of a year of 360 days and actual days elapsed) computed on the amount of the Swing Loans outstanding on such day. The Facility Usage Fee shall be payable quarterly in arrears on the first Business Day of each January, April, July, and October after the date hereof and on the Expiration Date or upon acceleration of the Loans.