Fees. (a) Each applicable Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) and on the date on which the Revolving Credit Commitments of the applicable Class terminate. For purposes of calculating the commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as a result of outstanding Swingline Loans. (b) Each applicable Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation in each Letter of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), during the period from and including the Closing Date to the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers (but in any event not to exceed 0.125% per annum) of the daily face amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding the last Business Day of each March, June, September and December shall be payable in arrears for the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after the last day of such calendar quarter; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefor. (c) [Reserved]. (d) Each Borrower agrees to pay to the Administrative Agent, for its own account, the fees in the amounts and at the times separately agreed upon by the Borrowers and the Administrative Agent in writing. (e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date. (f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction. (g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 4 contracts
Sources: First Lien Credit Agreement (Lucky Strike Entertainment Corp), First Lien Credit Agreement (Bowlero Corp.), First Lien Credit Agreement (Bowlero Corp.)
Fees. (a) Each applicable Borrower agrees The Borrowers agree to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any a Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to the date on which such L▇▇▇▇▇Lender’s Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) and on the date on which the Revolving Credit Commitments of the applicable Class terminate. For purposes of calculating the commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as a result of outstanding Swingline Loans.
(b) Each applicable Borrower agrees The Borrowers agree to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any a Defaulting Lender) a participation fee with respect to its participation participations in each Letter Standby Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR LIBO Rate Revolving Loans on the daily face amount of such Lender’s LC Exposure in respect of Standby Letters of Credit (excluding any portion thereof attributable to its unreimbursed LC Disbursements), during the period from and including the Closing Date through the later of the date on which such Revolving Lender’s Revolving Credit Commitment of terminates and the date on which such Class Revolving Lender ceases to have any LC Exposure in respect of Standby Letters of Credit, (ii) to the Administrative Agent for the account of each Revolving Lender (other than a Defaulting Lender) a participation fee with respect to its participations in Commercial Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to LIBO Rate Revolving Loans, on the daily face amount of such Letter Lender’s LC Exposure in respect of Commercial Letters of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), during the period from and including the Closing Date to the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter Commercial Letters of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Credit, and (iiiii) to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the 0.125% per annum (or such other rate not to exceed 0.125% per annum as may be agreed to by such Issuing Bank and the applicable Borrowers (but in any event not to exceed 0.125% per annumBorrower Representative) of the daily face amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding the last Business Day day of each March, June, September and December shall be payable in arrears for the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after the last day of such calendar quarter; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after receipt of a written demand (accompanied by reasonable back-up documentation) documentation therefor).
(c) [Reserved].
(d) Each Borrower agrees The Borrowers agree to pay to the Administrative Agent, for its own account, the fees set forth in the Fee Letter, payable in the amounts and at the times specified therein or as so otherwise agreed upon by the Borrower Representative and the Administrative Agent, or such agency fees as may otherwise be separately agreed upon by the Borrowers Borrower Representative and the Administrative Agent in writing.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(fe) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Closing Date, a Borrower the Borrowers (x) prepaysprepay, repaysrepay, refinancesrefinance, substitutes substitute or replaces replace any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section Section 2.11(b)(iii) that constitutes a Repricing Transaction) ), or (y) effects effect any amendment, waiver or other modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans Borrowers shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term LendersLenders (including, if applicable, any Non-Consenting Lender), (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 applicable Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendmentso amended, modified or waived. If, on or prior to the date that is six months after the Amendment No. 8 Effective DateClosing Date (and without duplication of the preceding sentence), all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) Section 2.18 as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification consent or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101101.0% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(gf) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year (or 365/366 days in the case of ABR Loans the interest payable on which is then based on the Prime Rate) and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any a fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 4 contracts
Sources: Credit Agreement (Osmotica Pharmaceuticals PLC), Credit Agreement (Osmotica Pharmaceuticals PLC), Credit Agreement (Osmotica Pharmaceuticals LTD)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily unused amount of the Unused each Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment Commitment fees shall be payable in arrears no later than 15 calendar days after accrued through and including the last day of each March, June, September and December for of each year shall be payable on the quarterly period then ended (third Business Day following such last day, commencing on September the third Business Day following June 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to 2002; provided that all such date) and fees shall be payable on the date on which the Revolving Credit Commitments terminate. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlywith respect to Revolving Commitments, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Swingline LoansRevolving Loans and LC Exposure of such Lender.
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurodollar Revolving Loans on the average daily face amount of such Lender’s 's LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Lender's Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each the Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at the rate of each Letter 0.25% per annum on the average daily amount of Credit issued by such Issuing Bank for the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the Issuing Bank’s reasonable and customary 's standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September third Business Day following June 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after the last day of such calendar quarter2002; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by in writing between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees due and owing hereunder and paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 4 contracts
Sources: Credit Agreement (Cumulus Media Inc), Amendment and Restatement Agreement (Cumulus Media Inc), Credit Agreement (Cumulus Media Inc)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent in Dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a the rate equal to the Commitment Fee Rate of 0.50% per annum applicable to the Revolving Credit Commitment of such Class on the average daily unused amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s the Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day Business Day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlyfees, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees agree to pay (i) to the Administrative Agent in Dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurocurrency Revolving Loans on the daily face amount balance of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and Exposure, (ii) to each Issuing Bank, for its own account, Bank in Dollars a fronting fee, in respect which shall accrue at 0.125% per annum or such other rate as may be separately agreed to by the relevant Issuing Bank and the Borrower on the average daily balance of each Letter the LC Exposure attributable to Letters of Credit issued by such Issuing Bank for (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers date on which there ceases to be any LC Exposure, and (but in any event not to exceed 0.125% per annumiii) of the daily face amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. .
(c) Participation fees and fronting fees accrued to but excluding through and including the last Business Day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orlast Business Day of each such month, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarter; Effective Date, provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 days after receipt in accordance with such Issuing Bank’s applicable procedures relating thereto. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) therefor.
(c) [Reserved]including the first day but excluding the last day).
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable an Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees Except as may otherwise be separately agreed, fees paid hereunder shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In Notwithstanding the event thatforegoing, on or prior and subject to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing TransactionSection 2.22, the Borrower shall not be obligated to pay any amounts to any Defaulting Lender pursuant to this Section 2.12, and any fees that would otherwise be payable to a Defaulting Lender under clause (i) of Section 2.12(b) shall, to the extent the LC Exposure of such Defaulting Lender shall have been reallocated pursuant to Section 2.22(a)(iv), be paid to the non-Defaulting Lenders in respect of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject amounts of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts LC Exposure for which they shall be due and payable on the date of effectiveness of such Repricing Transactionliable from time to time.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 4 contracts
Sources: Credit Agreement (GoHealth, Inc.), Incremental Facility Agreement (GoHealth, Inc.), Incremental Facility Agreement (GoHealth, Inc.)
Fees. (a) Each applicable Borrower agrees to pay to the Administrative Agent in dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a the rate equal to the Commitment Fee Rate of 0.50% per annum applicable to the Revolving Credit Commitment of such Class on the average daily unused amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s the Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the third Business Day following the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlyfees, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable Borrower agrees to pay (i) to the Administrative Agent in dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurocurrency Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank, for its own account, Bank in dollars a fronting fee, in respect which shall accrue at the rate of each Letter 0.125% per annum on the average daily amount of the LC Exposure attributable to Letters of Credit issued by such Issuing Bank for (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarter; Effective Date, provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved]The Borrowers agree to pay on the Effective Date to each Term Lender party to this Agreement on the Effective Date, as fee compensation for the funding of such Term Lender’s Term Loan, a closing fee (the “Term Closing Fee”) in an amount equal to 3.50% of the stated principal amount of such Term Lender’s Term Loan, payable to such Term Lender from the proceeds of its Term Loans as and when funded on the Effective Date. The Borrowers agree to pay on the Effective Date to each Revolving Lender party to this Agreement on the Effective Date, as fee compensation for the funding of such Revolving Lender’s Revolving Commitment, a closing fee (the “Revolving Closing Fee”) in an amount equal to 1.00% of the stated principal amount of such Revolving Lender’s Revolving Commitment, payable to such Revolving Lender on the Effective Date. Such Term Closing Fee and Revolving Closing Fee will be in all respects fully earned, due and payable on the Effective Date and non-refundable and non-creditable thereafter.
(d) Each The Parent Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by the Borrowers between Parent Borrower and the Administrative Agent in writingAgent.
(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable an Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid hereunder shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In Notwithstanding the event thatforegoing, on or prior and subject to the date that is six months after the Amendment No. 8 Effective DateSection 2.22, a no Borrower (x) prepays, repays, refinances, substitutes or replaces shall be obligated to pay any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, amounts to any prepayment made Defaulting Lender pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing TransactionSection 2.12.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 4 contracts
Sources: Credit Agreement (SMART Global Holdings, Inc.), Credit Agreement (SMART Global Holdings, Inc.), Credit Agreement (SMART Global Holdings, Inc.)
Fees. (a) Each applicable Borrower The Company agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused excess of the aggregate Revolving Credit Commitment of such Class Lender over such Lender’s Revolving Outstandings during the period from and including the date hereof to but excluding the date on which such Revolving Commitment terminates.
(b) The Company agrees to pay to the Administrative Agent for the account of each Deposit Lender a fee, accruing at the rate of 2.10% per annum, on the daily amount of the Deposit of such Revolving Lender during the period from and including the Closing Date date hereof to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for Deposit Commitments and the period from the Closing Date Deposit LC Exposure have been reduced to such date) and on the date on which the Revolving Credit Commitments of the applicable Class terminate. For purposes of calculating the commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as a result of outstanding Swingline Loanszero.
(bc) Each applicable Borrower The Company agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Revolving Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurodollar Revolving Loans on the average daily face amount of such Lender’s Revolving LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any Revolving LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and Exposure, (ii) to each Revolving Issuing Bank, for its own account, Bank a fronting fee, in which shall accrue at the rate of 0.15% per annum on the average daily amount of the Revolving LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) with respect of to each Revolving Letter of Credit issued by such Issuing Bank for during the period from and including the Effective Date to but excluding the later of the date of issuance termination of the Revolving Commitments and the date on which there ceases to be any Revolving LC Exposure with respect to Revolving Letters of Credit issued by such Issuing Bank, (iii) to each Deposit Issuing Bank a fronting fee, which shall accrue at the rate of 0.05% per annum on the average daily amount of the Deposit LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) with respect to each Deposit Letter of Credit issued by such Issuing Bank during the period from and including the Effective Date to but excluding the expiration later of the date of such Letter termination of the Deposit Commitments and the date on which there ceases to be any Deposit LC Exposure with respect to Deposit Letters of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed issued by such Issuing Bank and the applicable Borrowers (but in any event not iv) to exceed 0.125% per annum) of the daily face amount of such Letter of Crediteach Issuing Bank, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit issued by it or processing of drawings thereunder. Participation fees .
(d) Fees accrued pursuant to paragraphs (a), (b), (c)(i), (c)(ii) and fronting fees accrued to but excluding (c)(iii) above, through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following each such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees for the account of Lenders of either Class shall be payable on the date on which the Revolving Credit Commitments of the applicable such Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit such Commitments of the applicable Class terminate shall be payable on demand. All such fees shall be computed on the basis of a year of 365 days (or 366 days in a leap year) and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). Any other fees payable to any Issuing Bank pursuant to this paragraph Section shall be payable within 30 10 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefordemand.
(ce) [Reserved].
(d) Each Borrower The Company agrees to pay (i) to the Administrative Agent, the Collateral Agent and the Lead Arrangers, for its their own accountaccounts, the fees payable in the amounts and at the times separately agreed upon by to pursuant to the Borrowers Fee Letters and (ii) on or prior to the Effective Date, to the Administrative Agent for the account of each Lender an upfront fee in writingan amount separately agreed with the Lenders.
(ef) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable each Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, distribution (if applicable) to the Revolving LendersLenders as specified above. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 4 contracts
Sources: Credit Agreement (El Paso Corp/De), Credit Agreement (Tennessee Gas Pipeline Co), Credit Agreement (Colorado Interstate Gas Co)
Fees. (a) Each applicable Borrower agrees to pay to the Administrative Agent in dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a the rate equal to the Commitment Fee Rate of 0.50% per annum applicable to the Revolving Credit Commitment of such Class on the average daily unused amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s the Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the third Business Day following the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the Effective Date. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlyfees, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable Borrower agrees to pay (i) to the Administrative Agent in dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurocurrency Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank, for its own account, Bank in dollars a fronting fee, in respect which shall accrue at the rate of each Letter 0.125% per annum on the average daily amount of the LC Exposure attributable to Letters of Credit issued by such Issuing Bank for (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarter; Effective Date, provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved]The Borrowers agree to make an additional payment for the ratable account of the Term Lenders party to this Agreement on the date hereof in an amount equal to $5,000,000 in the event that the Term Loan remains outstanding on the first anniversary of the Restatement Effective Date, which additional payment shall be in all respects fully earned on the Restatement Effective Date but due and payable in cash on the earlier to occur of (i) the first anniversary of such date and (ii) the acceleration of the Secured Obligations for any reason (including commencement of any bankruptcy, insolvency or reorganization or similar case or proceeding) and such additional payment shall be non-refundable and noncreditable thereafter.
(d) Each The Parent Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by the Borrowers between Parent Borrower and the Administrative Agent in writingAgent.
(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable an Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid hereunder shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In Notwithstanding the event thatforegoing, on or prior and subject to the date that is six months after the Amendment No. 8 Effective DateSection 2.22, a no Borrower (x) prepays, repays, refinances, substitutes or replaces shall be obligated to pay any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, amounts to any prepayment made Defaulting Lender pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing TransactionSection 2.12.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 4 contracts
Sources: Credit Agreement (SMART Global Holdings, Inc.), Credit Agreement (SMART Global Holdings, Inc.), Credit Agreement (SMART Global Holdings, Inc.)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, fee which shall accrue at a an annual rate equal to the Commitment applicable Unused Fee Rate per annum applicable to the Revolving Credit Commitment of such Class on Committed Amount, on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender Lender’s unused Committed Amount during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateits Committed Amount terminates. Accrued commitment fees Unused Fees on Committed Amounts shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments of aggregate Committed Amounts terminate, commencing on the applicable Class terminate. For purposes of calculating first such date to occur after the commitment fees onlydate hereof, no portion of the Revolving Credit Commitments shall be deemed utilized as computed on the basis of a result year of outstanding Swingline Loans360 days and shall be payable for the actual number of days elapsed (including the first but excluding the last day).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate Margin used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving Eurodollar Loans on the average daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class Committed Amount terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at the rate of each Letter 0.25% per annum on the average daily amount of Credit issued by that portion of the LC Exposure attributable to such Issuing Bank for (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit the Committed Amounts and the date on which there ceases to the expiration date of such Letter of Credit (or if terminated on an earlier date, be any LC Exposure attributable to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers (but in any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditBank, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding shall be payable on the third Business Day following the last Business Day day of each March, June, September and December shall be payable in arrears for of each year, commencing on the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, Committed Amounts terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class Committed Amounts terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable an Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 4 contracts
Sources: Credit Agreement, Credit Agreement (Genesis Energy Lp), Credit Agreement (Genesis Energy Lp)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent in dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a the rate equal to the Commitment Fee Rate of 0.50% per annum applicable to the Revolving Credit Commitment of such Class on the average daily unused amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s the Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day Business Day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the Effective Date. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlyfees, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent in dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurocurrency Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to and including the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank, for its own account, Bank in dollars a fronting fee, in respect which shall accrue at the rate equal to 0.25% per annum (or such lower rate as agreed between the Borrower and the relevant Issuing Bank) on the daily amount of each Letter the LC Exposure attributable to Letters of Credit issued by such Issuing Bank for (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to and including the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding shall be payable on the last Business Day of each March, June, September and December shall be payable in arrears for of each year, commencing on the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writing.
(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided including those set forth in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date).
(fd) In Notwithstanding the event thatforegoing, on or prior and subject to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing TransactionSection 2.22, the Borrower of the Amendment No. 8 Term Loans shall not be obligated to pay any amounts to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Defaulting Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transactionthis Section.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 3 contracts
Sources: Credit Agreement (Camping World Holdings, Inc.), First Lien Credit Agreement (NEP Group, Inc.), First Lien Credit Agreement (NEP Group, Inc.)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any a Defaulting Lender) a commitment fee, which shall accrue at a the rate equal to of the Commitment Fee Rate Percentage per annum applicable to the Revolving Credit Commitment of such Class on the average daily unused amount of the Unused Revolving Credit Commitment of such Class Lender (provided that Swing Line Loans shall be disregarded for purposes of determining such Revolving Lender unused amount) during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s the Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last Business day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the Effective Date. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlyfees, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Swingline LoansRevolving Loans and LC Exposure of such Lender.
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements)Disbursements but taking into account the maximum amount available to be drawn under all outstanding Letters of Credit, whether or not such maximum amount is then in effect) during the period from and including the Closing Effective Date to and including the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank a fronting fee (which fee shall be calculated by the Administrative Agent in consultation with the applicable Issuing Bank and payable directly to the applicable Issuing Bank), which shall accrue at the rate to be agreed by each Issuing Bank, for its own account, a fronting fee, in respect not to be greater than 0.125% per annum on the daily amount of each Letter the LC Exposure attributable to Letters of Credit issued by such Issuing Bank for (excluding any portion thereof attributable to unreimbursed LC Disbursements but taking into account the maximum amount available to be drawn under all outstanding Letters of Credit, whether or not such maximum amount is then in effect) during the period from and including the Effective Date to and including the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orlast Business Day of March, in June, September and December, respectively, commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt written demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by the Borrowers in writing between Parent and the Administrative Agent pursuant to the Fee Letter.
(d) The Borrower agrees to pay on the Effective Date to each Term Lender party to this Agreement as a Term Lender on the Effective Date, as fee compensation for the funding of such Term Lender’s Initial Term Loan, a closing fee in writingan amount equal to 0.50% of the stated principal amount of such Term Lender’s Initial Term Loan. Such fees shall be payable to each Lender out of the proceeds of such Term Lender’s Initial Term Loan as and when funded on the Effective Date and may be treated (and reported) by the Borrower and Term Lenders as a reduction in issue price of the Initial Term Loans for U.S. federal, state and local income tax purposes. Such closing fee will be in all respects fully earned, due and payable on the Effective Date and non-refundable and non-creditable thereafter.
(e) All fees payable hereunder shall be paid The Borrower agrees to pay on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 2 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Date to each 2019 Incremental Term Loan Lender party to Amendment No. 8 2 as an 2019 Incremental Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of Loan Lender on the Amendment No. 8 Term Loans shall pay to the Administrative Agent2 Effective Date, as fee compensation for the ratable account funding of each of the applicable Amendment No. 8 such 2019 Incremental Term Lenders, (I) in the case of clause (x)Loan Lender’s 2019 Incremental Term Loan, a premium of 1.00closing fee in an amount equal to 0.50% of the aggregate stated principal amount of such 2019 Incremental Term Lender’s 2019 Incremental Term Loan. Such fees shall be payable to each such 2019 Incremental Term Loan Lender out of the proceeds of such 2019 Incremental Term Loan Lender’s 2019 Incremental Term Loan as and when funded on the Amendment No. 8 2 Effective Date and may be treated (and reported) by the Borrower and 2019 Incremental Term Loan Lenders as a reduction in issue price of the 2019 Incremental Term Loans so prepaidfor U.S. federal, repaid, refinanced, substituted or replaced state and (II) in the case of clause (y), a local income tax purposes. Such closing fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaidin all respects fully earned, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing TransactionAmendment No. 2 Effective Date and non-refundable and non-creditable thereafter. Notwithstanding the foregoing, and subject to Section 2.22, the Borrower shall not be obligated to pay any amounts to any Defaulting Lender pursuant to this Section 2.12.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 3 contracts
Sources: Credit Agreement (Simply Good Foods Co), Repricing Amendment (Simply Good Foods Co), Repricing Amendment (Simply Good Foods Co)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any a Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount in accordance with its Pro Rata Share of the Unused Aggregate Revolving Credit Commitment of such Class of such Revolving Lender during Commitments for the period from and including the Closing Amendment and Restatement Effective Date to but excluding the date on which such L▇▇▇▇▇’s the Revolving Credit Commitments terminate (or are otherwise reduced to zero), a commitment fee which shall accrue at the Applicable Rate on the average daily unused amount of the aggregate Revolving Commitment of such Class terminateRevolving Lender. Accrued Such accrued commitment fees shall be payable in arrears no later than 15 calendar days after accrued through and including the last day of each March, June, September and December for of each year shall be payable in arrears on the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to fifteenth day following such date) last day and on the date on which all the Revolving Credit Commitments of terminate, commencing on the applicable Class terminatefirst such date to occur after the Amendment and Restatement Effective Date. For purposes of calculating the computing commitment fees onlyfees, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Swingline LoansRevolving Loans and LC Exposure of such Lender.
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate then used to determine the interest rate applicable to Adjusted Term SOFR Rate Benchmark Revolving Loans on the average daily face amount of such Lender’s aggregate LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Amendment and Restatement Effective Date to but excluding the later of the date on which all of such Revolving Lender’s Revolving Credit Commitment of such Class terminates Commitments terminate and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at a rate per annum equal to 0.125% on the average daily amount of each Letter the LC Exposure attributable to Letters of Credit issued by such Issuing Bank for (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Amendment and Restatement Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to all the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orfifteenth day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterAmendment and Restatement Effective Date; provided that all such fees shall be payable on the date on which all the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which all the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefordemand.
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent Agent.
(d) The Borrower agrees to pay to the Arrangers and the Administrative Agent, for the account of each applicable Arranger and Lender, such other fees as shall have been separately agreed upon in writingwriting (including pursuant to the Fee Letters and including upfront fees, which may be in the form of original issues discounts to the Loans) in the amounts and at the times so specified.
(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid hereunder shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event thatAll commitment fees, on or prior to the date that is six months after the Amendment No. 8 Effective Dateparticipation fees, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made fronting fees and other fees payable pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced Section 2.12 and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts interest shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made computed on the basis of a 360-day year of 360 days, except that interest computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 3 contracts
Sources: Credit Agreement (Resideo Technologies, Inc.), Credit Agreement (Resideo Technologies, Inc.), Credit Agreement (Resideo Technologies, Inc.)
Fees. (a) Each applicable The Parent Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily unused amount of the Unused Revolving Credit each Commitment of such Class of such Revolving Lender during the period from and including the Closing Date date hereof to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after (i) in the case of commitment fees in respect of the Revolving Commitments, on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the date hereof, and (ii) in the case of commitment fees in respect of the applicable Class Tranche A Term Commitments and the Tranche B Term Commitments, on the Effective Date or any earlier date on which such Commitments terminate. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlywith respect to Revolving Commitments, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Parent Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the as interest rate applicable to Adjusted Term SOFR Rate on Eurodollar Revolving Loans on the average daily face amount of such Lender’s 's LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements)Disbursements and based on Assigned Dollar Values, in the case of Alternative Currency Letters of Credit) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Lender's Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each the Issuing Bank, for its own account, Bank a fronting fee, which shall accrue at the rate of 0.25% per annum on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements and based on Assigned Dollar Values, in respect the case of each any Alternative Currency Letter of Credit issued by such Issuing Bank for Credit) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the Issuing Bank’s reasonable and customary 's standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarter; Effective Date, provided that all such fees shall be payable on the date on which the applicable Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the applicable Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Parent Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Parent Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 3 contracts
Sources: Credit Agreement (Knowles Electronics LLC), Credit Agreement (Knowles Electronics LLC), Credit Agreement (Knowles Electronics LLC)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to the date on which such L▇▇▇▇▇Lender’s Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day Business Day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) and on the date on which the Revolving Credit Commitments of the applicable Class terminate. For purposes of calculating the commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as a result of outstanding Swingline Loans.
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation in each Letter of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR LIBO Rate Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), during the period from and including the Closing Date to the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers Borrower (but in any event not to exceed 0.125% per annum) of the daily face amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding the last Business Day of each March, June, September and December shall be payable in arrears for the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after on the last day Business Day of such calendar quarter; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefor.
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees in the amounts and at the times separately agreed upon by the Borrowers Borrower and the Administrative Agent in writing.
(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 2 Effective Date, a the Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 2 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 2 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 2 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 2 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 2 Effective Date, all or any portion of the Amendment No. 8 2 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 3 contracts
Sources: First Lien Credit Agreement (Isos Acquisition Corp.), First Lien Credit Agreement (Isos Acquisition Corp.), First Lien Credit Agreement (Isos Acquisition Corp.)
Fees. (a) Each applicable Borrower agrees The Borrowers jointly and severally agree to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate 0.25% per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Available Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to through the date on which such L▇▇▇▇▇Lender’s Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last first day (or, if such day is not a Business Day, on the next succeeding Business Day) of each MarchJanuary, JuneApril, September July and December October for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) and on the date on which the Revolving Credit Commitments terminate. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the last day but excluding the first day). For purposes of calculating the commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as a result of outstanding Swingline Loans.
(b) Each applicable Borrower agrees The Borrowers jointly and severally agree to pay (i) to the Administrative Agent for the account of each ABL Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Standby Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR LIBO Rate Loans that are ABL Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter Standby Letters of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), during the period from and including the Closing Date to through the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Lender ceases to have any LC Exposure in respect of Standby Letters of Credit, (ii) to the Administrative Agent for the account of each ABL Revolving Lender a participation fee with respect to its participations in Commercial Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to LIBO Rate Loans that are ABL Revolving Loans, on the daily amount of such Lender’s LC Exposure in respect of Commercial Letters of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), during the period from and including the Closing Date through the later of the date on which such Lender’s Commitment terminates and the date on which such ABL Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter Commercial Letters of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Credit, and (iiiii) to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to through the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers (but in any event not to exceed 0.125% per annum) annum of the daily face stated amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding the last first day (or, if such day is not a Business Day Day, on the next succeeding Business Day) of each MarchJanuary, JuneApril, September July and December October shall be payable in arrears for the quarterly period then ended (or, in on the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after the last first day of such calendar quarter; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after receipt of a written demand (accompanied by reasonable back-up documentation) documentation therefor). All participation fees and fronting fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed.
(c) [Reserved].
(d) Each Borrower agrees The Borrowers jointly and severally agree to pay to the Administrative Agent, for its own account, the agency and administration fees set forth in the Fee Letter, payable in the amounts and at the times specified therein or as so otherwise agreed upon by the Borrowers and the Administrative Agent, or such agency fees as may otherwise be separately agreed upon by the Borrowers and the Administrative Agent in writing.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 3 contracts
Sources: Abl Credit Agreement (Party City Holdco Inc.), Abl Credit Agreement (Party City Holdco Inc.), Abl Credit Agreement (Party City Holdco Inc.)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit unused Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateAvailability Period. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the Effective Date. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlyfees, no portion a Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation such Lender’s participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurodollar Revolving Loans on the average daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each the Issuing Bank, Bank for its own account, account a fronting fee, in respect which shall accrue at the rate of each Letter 0.125% per annum on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) attributable to Letters of Credit issued by such the Issuing Bank for during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the Issuing Bank’s reasonable standard fees and customary fees commissions with respect to the issuance, amendment, cancellation, negotiation, transfer, presentment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended third (or3rd) Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 ten (10) days after receipt demand therefor (or such longer period of time as the Issuing Bank may agree to in its sole discretion). All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment facility fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 3 contracts
Sources: Credit Agreement (Eagle Materials Inc), Credit Agreement (Eagle Materials Inc), Credit Agreement (Eagle Materials Inc)
Fees. (a) Each applicable The Borrower agrees to pay to the First Lien Administrative Agent in Dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a the rate equal to of the Commitment Fee Rate Percentage per annum applicable to the Revolving Credit Commitment of such Class on the average daily unused amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s the Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the third Business Day following the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the Effective Date. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlyfees, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the First Lien Administrative Agent in Dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurodollar Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements)Disbursements but taking into account the maximum amount available to be drawn under all outstanding Letters of Credit, whether or not such maximum amount is then in effect) during the period from and including the Closing Effective Date to and including the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank in Dollars a fronting fee (which fee shall be calculated by the First Lien Administrative Agent in consultation with the applicable Issuing Bank), which shall accrue at the rate to be agreed by each Issuing Bank, for its own account, a fronting fee, in respect not to be greater than 0.125% per annum on the daily amount of each Letter the LC Exposure attributable to Letters of Credit issued by such Issuing Bank for (excluding any portion thereof attributable to unreimbursed LC Disbursements but taking into account the maximum amount available to be drawn under all outstanding Letters of Credit, whether or not such maximum amount is then in effect) during the period from and including the Effective Date to and including the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after third Business Day following the last day of March, June, September and December, respectively, commencing on the first such calendar quarterdate to occur after the Effective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefor.
(c) [Reserved].
(d) Each Borrower agrees to pay to the Administrative Agent, for its own account, the fees in the amounts and at the times separately agreed upon by the Borrowers and the Administrative Agent in writing.
(e) demand. All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment participation fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fronting fees shall be made computed on the basis of a 360-day year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). Each determination by .
(c) The Borrower agrees to pay to the First Lien Administrative Agent of Agent, for its own account, fees payable in the amount of amounts and at the times separately agreed upon between the Borrower and the First Lien Administrative Agent.
(d) Notwithstanding the foregoing, and subject to Section 2.22, the Borrower shall not be obligated to pay any fee hereunder shall be conclusive and binding for all purposes, absent manifest erroramounts to any Defaulting Lender pursuant to this Section 2.12.
Appears in 3 contracts
Sources: Credit Agreement (LivaNova PLC), Credit Agreement (Sotera Health Co), Credit Agreement (Sotera Health Topco, Inc.)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment Commitments of such Class on the average daily amount of the Unused unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to the date on which such L▇▇▇▇▇▇’s Revolving Credit Commitments Commitment of such Class terminateterminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day Business Day of each March, June, September and December (commencing with the Fiscal Quarter ending September 30, 2021) for the quarterly period then ended (commencing on September 30or, 2017, but in the case of the payment made on September 30, 20172021, for the period from the Closing Date to such date) ), and on the date on which the Revolving Credit Commitments of the applicable Class terminate. For purposes of calculating the commitment fees fee only, the Revolving Credit Commitment of any Class of any Revolving Lender shall be deemed to be used to the extent of Revolving Loans of such Class of such Revolving Lender and the LC Exposure of such Revolving Lender attributable to its Revolving Credit Commitment of such Class and no portion of the Revolving Credit Commitments Commitment of any Class shall be deemed utilized used as a result of outstanding Swingline Loans.
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Revolving Loans of such Class that are LIBO Rate Loans or Term SOFR Rate Revolving Loans Loans, as applicable (or, with respect to Letters of Credit denominated in British Pounds Sterling, RFR Loans), on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof that is attributable to unreimbursed LC Disbursements), during the period from and including the Closing Date to the earlier of (A) the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit and (including any such Letter of Credit Exposure that may exist following B) the termination of such Revolving Credit Commitments) Termination Date, and (ii) to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the earlier of (A) the expiration date of such Letter of Credit Credit, (or if terminated B) the date on an earlier date, to the termination date of which such Letter of Credit)Credit terminates or (C) the Termination Date, computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers Borrower (but in any event not to exceed 0.125% per annum) of the daily face amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued shall accrue to but excluding the last Business Day of each March, June, September and December shall and be payable in arrears for the quarterly period then ended (or, in the case of the payment made on September 30, 20172021, for the period from the Closing Date to such date) no later than 15 calendar days after on the last day Business Day of such calendar quartereach March, June, September and December (commencing, if applicable, September 30, 2021); provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefor.
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees annual administration fee described in the amounts and at the times separately agreed upon by the Borrowers and the Administrative Agent in writingFee Letter.
(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lendersany Issuing Bank). Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Closing Date, a the Borrower (xi) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Initial Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section Section 2.11(b)(iii) that constitutes a Repricing Transaction) ), or (yii) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Initial Term Lenders, (IA) in the case of clause (xi), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Initial Term Loans so prepaid, repaid, refinanced, substituted or replaced and (IIB) in the case of clause (yii), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Initial Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Closing Date, all or any portion of the Amendment No. 8 Initial Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (yii) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any a fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 3 contracts
Sources: Credit Agreement (CCC Intelligent Solutions Holdings Inc.), Credit Agreement (CCC Intelligent Solutions Holdings Inc.), Credit Agreement (CCC Intelligent Solutions Holdings Inc.)
Fees. (a) Each applicable Borrower The Company agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit unused Commitment of such Class of such Revolving Lender Lender, subject to adjustment as provided in Section 2.18, during the period from and including the Closing Date date of this Agreement to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day Business Day of each March, June, September and December for of each year, on any date prior to the quarterly period then ended (commencing Maturity Date on September 30, 2017, but in which the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) Commitments terminate and on the Maturity Date, commencing on the first such date on which to occur after the Revolving Credit Commitments of the applicable Class terminatedate hereof. For purposes of calculating the All commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as computed on the basis of a result year of outstanding Swingline Loans360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(b) Each applicable Borrower The Company agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving Loans on the average daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender▇▇▇▇▇▇’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank, for its own account, Lender a fronting fee, in respect which shall accrue at the rate of each Letter 0.125% per annum on the average daily amount of Credit issued by such Issuing Bank for the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such each Issuing BankLender’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orfifteenth day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank Lender pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each Borrower The Company agrees to pay to the Administrative Agent, each for its their own account, the fees payable in the amounts and at the times separately agreed upon by in writing between the Borrowers Company and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing BankLender, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided absent error in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee calculation or payment datethereof.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 3 contracts
Sources: Credit Agreement (Sherwin Williams Co), Credit Agreement (Sherwin Williams Co), Credit Agreement (Sherwin Williams Co)
Fees. (a) Each applicable The Borrower agrees to pay to each Administrative Agent, for its own account, fees payable in the amounts and at the times separately agreed upon between the Borrower and such Administrative Agent.
(b) [Reserved.]
(c) The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a the rate equal to the Commitment Fee Rate of 0.50% per annum applicable to the Revolving Credit Commitment of such Class on the average daily unused amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Revolving Availability Date to but excluding the date on which such L▇▇▇▇▇’s the Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the third Business Day following the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the Revolving Availability Date. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlyfees, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Swingline LoansRevolving Loans and LC Exposure of such Lender.
(bd) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurodollar Revolving Loans on the daily face amount of such Lender’s 's LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Revolving Availability Date to and including the later of the date on which such Lender's Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at the rate of each Letter 0.25% per annum on the daily amount of the LC Exposure attributable to Letters of Credit issued by such Issuing Bank for (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Revolving Availability Date to and including the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary 's standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterRevolving Availability Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefor.
(c) [Reserved].
(d) Each Borrower agrees to pay to the Administrative Agent, for its own account, the fees in the amounts and at the times separately agreed upon by the Borrowers and the Administrative Agent in writing.
(e) demand. All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment participation fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fronting fees shall be made computed on the basis of a 360-day year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). Each determination by .
(e) Notwithstanding the Administrative Agent of foregoing, and subject to Section 2.21, the amount of Borrower shall not be obligated to pay any fee hereunder shall be conclusive and binding for all purposes, absent manifest erroramounts to any Defaulting Lender pursuant to this Section 2.10.
Appears in 3 contracts
Sources: Credit Agreement (Virtu Financial, Inc.), Restatement Agreement (Virtu Financial, Inc.), Restatement Agreement (Virtu Financial, Inc.)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the “Commitment Fee Rate” specified in the definition of Applicable Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused Available Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Funding Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment Commitment fees shall be payable in arrears no later than 15 calendar days after accrued through and including the last day of each March, June, September and December for of each year shall be payable in arrears on the quarterly period then ended fifteenth (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to 15th) day following such date) last day and on the date on which the Revolving Credit Commitments of terminate, commencing on the applicable Class terminate. For purposes of calculating first such date to occur after the date hereof; provided that, any commitment fees only, no portion of accruing after the date on which the Revolving Credit Commitments terminate shall be deemed utilized as payable on demand. All commitment fees shall be computed on the basis of a result year of outstanding Swingline Loans360 days and shall be payable for the actual number of days elapsed (including the first day and the last day of each period but excluding the date on which the Revolving Commitments terminate).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each outstanding Letter of Credit, which shall accrue on the daily maximum stated amount then available to be drawn under such Letter of Credit at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Benchmark Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements)Loans, during the period from and including the Closing Funding Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each Issuing Bank, Bank for its own account, account a fronting fee, in respect which shall accrue at the rate of each 0.125 % per annum on the daily maximum stated amount then available to be drawn under such outstanding Letter of Credit issued by such Issuing Bank for Credit, during the period from and including the Funding Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal amendment or extension of any Letter of Credit or and other processing fees, and other standard costs and charges, of drawings thereundersuch Issuing Bank relating to the Letters of Credit as from time to time in effect. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended fifteenth (or15th) day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterdate hereof; provided that that, all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 ten (10) days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable relevant Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving applicable Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 3 contracts
Sources: Credit Agreement (Waldencast PLC), Credit Agreement (Waldencast PLC), Credit Agreement (Waldencast Acquisition Corp.)
Fees. (a) Each applicable Borrower Finance agrees to pay to the Administrative Agent in dollars for the account of each Initial Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a the rate equal to the Commitment Fee Rate of 0.25% per annum applicable to the Revolving Credit Commitment of such Class on the average daily unused amount of the Unused Initial Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s the Initial Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the third Business Day following the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Initial Revolving Credit Commitments terminate, commencing on the first such date to occur after the Effective Date. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating computing commitment fees, an Initial Revolving Commitment of a Lender shall be deemed to be used to the commitment fees only, no portion extent of the outstanding Initial Revolving Credit Loans and LC Exposure attributable to the Initial Revolving Commitments of such Lender (and the Swingline Exposure of such Lender attributable to the Initial Revolving Commitments shall be deemed utilized as a result of outstanding Swingline Loansdisregarded for such purpose).
(b) Each The applicable Co-Borrower agrees to pay (i) to the Administrative Agent in dollars for the account of each Initial Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Initial Revolving Loans that are Eurodollar Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its the Initial Revolving Commitments for Letters of Credit Commitment for the account of such Class in respect of such Letter of Credit Co-Borrower (excluding any portion thereof attributable to unreimbursed LC Disbursements)Disbursements but taking into account the maximum amount available to be drawn under all outstanding Letters of Credit, whether or not such maximum amount is then in effect) during the period from and including the Closing Effective Date to and including the later of the date on which such Revolving Lender’s Initial Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related attributable to its the Initial Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Commitments and (ii) to each Issuing Bank, for its own account, Bank in dollars a fronting fee, in respect which shall accrue at a rate of each Letter 0.125% per annum on the daily amount of the LC Exposure, attributable to Letters of Credit issued by such Issuing Bank for the account of such Co-Borrower (excluding any portion thereof attributable to unreimbursed LC Disbursements but taking into account the maximum amount available to be drawn under all outstanding Letters of Credit, whether or not such maximum amount is then in effect) during the period from and including the Effective Date to and including the later of the date of issuance termination of such Letter of Credit to all the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after third Business Day following the last day of March, June, September and December, respectively, commencing on the first such calendar quarterdate to occur after the Effective Date; provided that all such fees shall be payable on the date on which the Initial Revolving Credit Commitments (in the case of participation fees) or all the applicable Class terminate, Revolving Commitments (in the case of fronting fees) terminate and any such fees accruing after the date on which the Initial Revolving Credit Commitments (in the case of participation fees) or all the applicable Class Revolving Commitments (in the case of fronting fees) terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each Borrower Holdings agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between Holdings or any of the Borrowers Co-Borrowers, on the one hand, and the Administrative Agent in writingAgent, on the other hand.
(d) [Reserved].
(e) All fees payable hereunder Notwithstanding the foregoing, and subject to Section 2.22, none of the Co-Borrowers shall be paid on the dates due, in Dollars and in immediately available funds, obligated to the Administrative Agent (or pay any amounts to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made Defaulting Lender pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing TransactionSection 2.12.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 3 contracts
Sources: Second Amendment (Graftech International LTD), Credit Agreement (Graftech International LTD), Credit Agreement (Graftech International LTD)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily unused amount of the Unused each Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the date hereof. Commitment fees shall be computed on the basis of a year of 365 days (or 366 days in a leap year) and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlyfees, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the as interest rate applicable to Adjusted Term SOFR Rate on Eurodollar Revolving Loans on the average daily face amount of such Lender’s 's LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Lender's Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each the Issuing Bank, for its own account, Lender a fronting fee, in respect which shall accrue at the rate of each Letter 0.20% per annum on the average daily amount of Credit issued by such Issuing Bank for the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the Issuing Bank’s reasonable and customary Lender's standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank Lender pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing BankLender, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 3 contracts
Sources: Credit Agreement (SPX Corp), Credit Agreement (SPX Corp), Credit Agreement (SPX Corp)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused undrawn portion of the Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s the Lenders’ Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day Business Day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the last Business Day of June, 2014. All commitment fees shall be computed on the applicable Class terminatebasis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlywith respect to Commitments, no portion a Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurodollar Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each the Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at the rate of each Letter 0.125% per annum (or such lesser fee as shall be acceptable to the Issuing Bank) on the daily amount of the LC Exposure attributable to Letters of Credit issued by such the Issuing Bank for (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the Issuing Bank’s reasonable standard fees and customary fees commissions with respect to the issuance, amendment, cancellation, negotiation, transfer, presentment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in the case of the payment made commencing on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after the last day Business Day of such calendar quarterMarch, 2013; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 3 contracts
Sources: Credit Agreement (Planet Fitness, Inc.), Credit Agreement (Planet Fitness, Inc.), Credit Agreement (Planet Fitness, Inc.)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during for the period from and including the Closing Funding Date to but excluding the date on which such L▇▇▇▇▇’s the Revolving Credit Commitments terminate (or are otherwise reduced to zero), a commitment fee which shall accrue at the Applicable Rate on the average daily unused amount of the aggregate Revolving Commitment of such Class terminateRevolving Lender. Accrued Such accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day Business Day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which all the Revolving Credit Commitments of terminate, commencing on the applicable Class terminatefirst such date to occur after the Funding Date. For purposes of calculating the computing commitment fees onlyfees, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate then used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurocurrency Revolving Loans on the average daily face amount of such Lender’s aggregate LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Funding Date to but excluding the later of the date on which all of such Revolving Lender’s Revolving Credit Commitment of such Class terminates Commitments terminate and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at a rate per annum equal to 0.125% on the average daily amount of each Letter the LC Exposure attributable to Letters of Credit issued by such Issuing Bank for (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Funding Date to but excluding the later of the date of issuance termination of such Letter of Credit to all the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterFunding Date; provided that all such fees shall be payable on the date on which all the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which all the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefordemand.
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(d) The Borrower agrees to pay to the Administrative Agent, for the account of each Lender, an upfront fee equal to a percentage to be mutually agreed by the Borrower and the Administrative Agent. The upfront fees payable pursuant to this Section 2.12(d) shall be payable on the Funding Date and shall be subject to the occurrence of the Funding Date.
(e) If the Funding Date has not occurred prior to the date that is 60 days after the Effective Date (the “Ticking Fee Commencement Date”), then the Borrower agrees to pay to the Administrative Agent for the account of each Lender for the period from and including the Ticking Fee Commencement Date to but excluding the earlier of (i) the Funding Date and (ii) the date on which the Commitments terminate (or are otherwise reduced to zero) (such earlier date, the “Ticking Fee Payment Date”), a ticking fee which shall accrue at a rate per annum equal to 0.45% on the aggregate amount of the Commitments of such Lender. Such accrued ticking fees shall be payable in arrears on the Ticking Fee Payment Date.
(f) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid hereunder shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transactioncircumstances.
(g) Unless otherwise indicated hereinAll commitment fees, all computations of participation fees, fronting fees and ticking fees payable pursuant to this Section 2.12 shall be made computed on the basis of a 360-day year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 3 contracts
Sources: Credit Agreement (Vectrus, Inc.), Credit Agreement (Vectrus, Inc.), Credit Agreement (Vectrus, Inc.)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to on the Revolving Credit daily unused amount of each Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender for each day during the period from and including the Closing Date date hereof to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit any Commitments of such Lender shall expire or terminate, commencing on the applicable Class terminatefirst such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlywith respect to Revolving Commitments, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Swingline LoansRevolving Exposure of such Lender.
(b) Each applicable Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation in each Letter of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), during the period from and including the Closing Date to the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers (but in any event not to exceed 0.125% per annum) of the daily face amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding the last Business Day of each March, June, September and December shall be payable in arrears for the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after the last day of such calendar quarter; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefor.
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ec) The Borrower agrees to pay (i) to each Revolving Lender, through the Administrative Agent, on the last Business Day of March, June, September and December of each year and on the date on which the Revolving Commitment of such Lender shall be terminated as provided herein, a fee (an "L/C Participation Fee") calculated on such Lender's Pro Rata Percentage of the actual daily aggregate L/C Exposure (excluding the portion thereof attributable to unreimbursed L/C Disbursements) for each day during the preceding quarter (or shorter period commencing with the date hereof or ending with the Revolving Maturity Date or the date on which all Letters of Credit have been canceled or have expired and the Revolving Credit Commitments of all Lenders shall have been terminated) at a rate per annum equal to the Applicable Margin for Eurodollar Borrowings and (ii) to the Issuing Bank with respect to each Letter of Credit a fronting fee of one quarter of one percent per annum along with the standard issuance and drawing fees specified from time to time by such Issuing Bank (the "Issuing Bank Fees"). All L/C Participation Fees and Issuing Bank Fees shall be computed on the basis of the actual number of days elapsed in a year of 360 days.
(d) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto, except that the Issuing Bank Fees shall be paid directly to the Issuing Bank. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(fe) In The Borrower agrees to pay to each Lender that executes and delivers a signature page to this Amended and Restated Credit Agreement to the event that, Administrative Agent (or its counsel) on or prior to October 2, 2000 an amendment fee in an amount equal to 0.20% of the sum of such Lender's Revolving Exposure, outstanding Term Loans and unused Commitments, in each case as of the date the condition in Section 4.03(a) is first satisfied; provided that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower shall have no liability for such amendment fee if the condition in Section 4.03(a) is not satisfied. Such amendment fee shall be payable (i) on the date the condition in Section 4.03(a) is first satisfied, to each Lender entitled to receive such fee as of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, such date and (Iii) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans any Lender that are the subject of such Repricing Transaction outstanding immediately prior becomes entitled to such amendment. Iffee after such date, on or prior within two Business Days after such Lender becomes entitled to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transactionfee.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Telecorp Communications Inc), Credit Agreement (Telecorp PCS Inc /Va/)
Fees. (a) Each applicable Borrower agrees The Borrowers agree to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any a Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to the date on which such L▇▇▇▇▇Lender’s Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) and on the date on which the Revolving Credit Commitments of the applicable Class terminate. For purposes of calculating the commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as a result of outstanding Swingline Loans.
(b) Each applicable Borrower agrees The Borrowers agree to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any a Defaulting Lender) a participation fee with respect to its participation participations in each Letter Standby Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR LIBO Rate Revolving Loans on the daily face amount of such Lender’s LC Exposure in respect of Standby Letters of Credit (excluding any portion thereof attributable to its unreimbursed LC Disbursements), during the period from and including the Closing Date through the later of the date on which such Revolving Lender’s Revolving Credit Commitment of terminates and the date on which such Class Revolving Lender ceases to have any LC Exposure in respect of Standby Letters of Credit, (ii) to the Administrative Agent for the account of each Revolving Lender (other than a Defaulting Lender) a participation fee with respect to its participations in Commercial Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to LIBO Rate Revolving Loans, on the daily face amount of such Letter Lender’s LC Exposure in respect of Commercial Letters of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), during the period from and including the Closing Date to the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter Commercial Letters of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Credit, and (iiiii) to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the 0.125% per annum (or such other rate not to exceed 0.125% per annum as may be agreed to by such Issuing Bank and the applicable Borrowers (but in any event not to exceed 0.125% per annumBorrower Representative) of the daily face amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding the last Business Day day of each March, June, September and December shall be payable in arrears for the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after the last day of such calendar quarter; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after receipt of a written demand (accompanied by reasonable back-up documentation) documentation therefor).
(c) [Reserved].
(d) Each Borrower agrees The Borrowers agree to pay to the Administrative Agent, for its own account, the fees set forth in the Fee Letter, payable in the amounts and at the times specified therein or as so otherwise agreed upon by the Borrower Representative and the Administrative Agent, or such agency fees as may otherwise be separately agreed upon by the Borrowers Borrower Representative and the Administrative Agent in writing.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(fe) In the event that, on or prior to the date that is six months after the ClosingThird Amendment No. 8 Effective Date, a Borrower the Borrowers (x) prepaysprepay, repaysrepay, refinancesrefinance, substitutes substitute or replaces replace any Amendment No. 8 Term B Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section Section 2.11(b)(iii) that constitutes a Repricing Transaction) ), or (y) effects effect any amendment, waiver or other modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans Borrowers shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term LendersLenders (including, if applicable, any Non-Consenting Lender), (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term B Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 applicable Term B Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendmentso amended, modified or waived. If, on or prior to the date that is six months after the ClosingThird Amendment No. 8 Effective DateDate (and without duplication of the preceding sentence), all or any portion of the Amendment No. 8 Term B Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) Section 2.18 as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification consent or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101101.0% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(gf) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year (or 365/366 days in the case of ABR Loans the interest payable on which is then based on the Prime Rate) and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any a fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Osmotica Pharmaceuticals PLC), Credit Agreement (Osmotica Pharmaceuticals LTD)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily unused amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s the Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the third Business Day following the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the Effective Date. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlyfees, no portion a Global Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Global Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Global Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurocurrency Revolving Loans on the average daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank, for its own account, Bank a fronting fee, fee in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier dateBank, to the termination date of such Letter of Credit), computed which shall accrue at a rate equal to 0.25% per annum on the rate agreed by such Issuing Bank average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of termination of the Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarter; Effective Date, provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days (accompanied by reasonable back-up documentationor, in the case any such fee is payable in Sterling, 365 days) thereforand shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Burger King Holdings Inc), Credit Agreement (Burger King Holdings Inc)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a the rate equal to set forth in the Commitment Fee Rate per annum applicable to definition of the Revolving Credit Commitment of such Class term “Applicable Rate” on the average daily unused amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Restatement Effective Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the Restatement Effective Date. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlyfees, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and Actual LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the as interest rate applicable to Adjusted Term SOFR Rate on Eurodollar Revolving Loans on the average daily face amount of such Lender’s Actual LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Restatement Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any Actual LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank, for its own account, Bank a fronting fee, which shall accrue at the rate or rates per annum (but in respect no event more than 0.25%) separately agreed upon between the Borrower and such Issuing Bank on the average daily amount of each Letter the Actual LC Exposure attributable to Letters of Credit issued by such Issuing Bank for (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditActual LC Exposure, as well as such each Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarter; Restatement Effective Date, provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied including the first day but excluding the last day). For purposes of calculating the average daily amount of the Actual LC Exposure for any period under this Section 2.12(b), the average daily amount of the Actual Alternative Currency LC Exposure for such period shall be calculated by multiplying (x) the average daily balance of each Alternative Currency Letter of Credit (expressed in the currency in which such Alternative Currency Letter of Credit is denominated) by (y) the Exchange Rate for each such Alternative Currency in effect on the last Business Day of such period or by such other reasonable back-up documentation) thereformethod that the Administrative Agent deems appropriate.
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (On Semiconductor Corp), Credit Agreement (On Semiconductor Corp)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Applicable Rate on the actual daily amount by which such Lender’s Commitment Fee Rate per annum applicable to the exceeds such Lender’s Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender Exposure, subject to adjustment as provided in Section 2.20, during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments of terminate, commencing on the applicable Class terminatefirst such date to occur after the date hereof. For purposes of calculating the All commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as computed on the basis of a result year of outstanding Swingline Loans360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving Eurodollar Loans on the average daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each the Issuing Bank, for its own account, Bank a fronting fee, in respect of each Letter of Credit issued by such which shall accrue at the rate or rates per annum separately agreed upon between the Borrower and the Issuing Bank for in the Fee Letter on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation Unless otherwise specified above, participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingthe Fee Letter.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided (other than in the Fee Letter. Fees payable hereunder shall accrue through case, and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Dateextent, a Borrower (x) prepays, repays, refinances, substitutes or replaces of any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination overpayment thereof by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest errorBorrower).
Appears in 2 contracts
Sources: Credit Agreement (Deckers Outdoor Corp), Credit Agreement (Deckers Outdoor Corp)
Fees. (a) Each applicable The Borrower agrees to pay to the ----- Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily unused amount of the Unused Revolving Credit each Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlywith respect to Revolving Commitments, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the as interest rate applicable to Adjusted Term SOFR Rate on Eurodollar Revolving Loans on the average daily face amount of such Lender’s 's LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Lender's Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each the Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at the rate of each Letter 1/4 of Credit issued by such Issuing Bank for 1% per annum on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the Issuing Bank’s reasonable and customary 's standard fees (other than fees payable as a percentage of the undrawn amount of the Letter of Credit) with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on -------- the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Eagle Family Foods Inc), Credit Agreement (Eagle Family Foods Inc)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to on the daily unused amount of each Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s the Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date dates on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlywith respect to Revolving Commitments, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used from time to determine time in effect for purposes of determining the interest rate applicable to Adjusted Term SOFR Rate Eurodollar Revolving Loans on the daily face amount of such Lender’s 's LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Lender's Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each the Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at the rate of each Letter 0.125% per annum on the average daily amount of Credit issued by such Issuing Bank for the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the Issuing Bank’s reasonable and customary 's standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Dex Media Inc), Credit Agreement (Dex Media West LLC)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily unused amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlywith respect to Revolving Commitments, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the as interest rate applicable to Adjusted Term SOFR Rate on Eurodollar Revolving Loans on the average daily face amount of such Lender’s 's LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Lender's Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each the Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at the rate of each Letter 0.25% per annum on the average daily amount of Credit issued by such Issuing Bank for the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the Issuing Bank’s reasonable and customary 's standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided PROVIDED that all such fees shall be payable 57 52 on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Marketing Services Inc), Credit Agreement (American Media Operations Inc)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to on the daily unused amount of each Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Original Closing Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date dates on which such Revolving Commitments terminate, commencing on the Revolving Credit Commitments first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlywith respect to Revolving Commitments, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used from time to determine time in effect for purposes of determining the interest rate applicable to Adjusted Term SOFR Rate Eurodollar Revolving Loans on the daily face amount of such Lender’s 's LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Original Closing Date to but excluding the later of the date on which such Lender's Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each the Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at the rate of each Letter 0.125% per annum on the average daily amount of Credit issued by such Issuing Bank for the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Original Closing Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the Issuing Bank’s reasonable and customary 's standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to third Business Day following such date) no later than 15 calendar days after the last day of such calendar quarterday; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Donnelley R H Inc), Credit Agreement (Dex Media, Inc./New)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any than, subject to Section 2.18, a Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to on the Revolving Credit daily amount by which the Commitment of such Class on the average daily amount of the Unused Revolving Lender exceeds such Lender’s Credit Commitment of such Class of such Revolving Lender Exposure during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateTermination Date. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments of terminate, commencing on the applicable Class terminatefirst such date to occur after the date hereof. For purposes of calculating the All commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as computed on the basis of a result year of outstanding Swingline Loans360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at a per annum rate equal to the Applicable Rate Margin used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving Eurodollar Loans on the average daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank, for its own account, Bank a fronting fee, in which shall accrue at the rate of 0.125% per annum on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) with respect of each Letter to Letters of Credit issued by such Issuing Bank for during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on such last day, commencing on the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterdate hereof; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative AgentPersons entitled thereto, for its own account, the fees payable in the amounts and at the times separately agreed upon by set forth in the Borrowers and the Administrative Agent in writingFee Letter.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable an Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Applied Materials Inc /De), Credit Agreement (Applied Materials Inc /De)
Fees. (a) Each applicable Borrower The Company agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) , in accordance with its Applicable Percentage, a commitment fee, which shall accrue at a rate fee equal to the Applicable Rate times the actual daily amount by which the aggregate Commitments exceeds the sum of (i) the outstanding principal amount of Revolving Loans and (ii) the amount of LC Exposure, subject to adjustment as provided in Section 2.24; provided that, if such Lender continues to have any Credit Exposure after its Commitment Fee Rate per annum applicable terminates, then such commitment fee shall continue to the Revolving Credit Commitment of such Class accrue on the average daily amount of the Unused Revolving such Lender’s Credit Commitment of such Class of such Revolving Lender during the period Exposure from and including the Closing Date date on which its Commitment terminates to but excluding the date on which such L▇▇▇▇▇’s Revolving Lender ceases to have any Credit Exposure. For the avoidance of doubt, the outstanding principal amount of Swingline Loans shall not be counted towards or considered usage of the Commitments for purposes of such Class terminatedetermining the commitment fee. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments of terminate, commencing on the applicable Class terminate. For purposes of calculating first such date to occur after the Effective Date; provided that any commitment fees only, no portion of accruing after the Revolving Credit date on which the Commitments terminate shall be deemed utilized as payable on demand. All commitment fees shall be computed on the basis of a result year of outstanding Swingline Loans360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(b) Each applicable Borrower The Company agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving Eurocurrency Loans on the average daily face amount Dollar Amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each the relevant Issuing Bank, Bank for its own account, account a fronting fee, in respect which shall accrue at the rate of each Letter 0.125% per annum on the average daily Dollar Amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) attributable to Letters of Credit issued by such Issuing Bank for during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable standard fees and customary fees commissions with respect to the issuance, amendment, cancellation, negotiation, transfer, presentment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation Unless otherwise specified above, participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended third (or3rd) Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 ten (10) days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day). Participation fees and fronting fees in respect of Letters of Credit denominated in Dollars shall be paid in Dollars, and participation fees and fronting fees in respect of Letters of Credit denominated in a Foreign Currency shall be paid in such Foreign Currency.
(c) [Reserved].
(d) Each Borrower The Company agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Company and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars (except as otherwise expressly provided in this Section 2.12) and in immediately available funds, to the Administrative Agent (or to the applicable each Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving applicable Lenders. Fees (other than fees calculated in error) paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Heidrick & Struggles International Inc), Credit Agreement (Heidrick & Struggles International Inc)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily unused amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which Revolving Commitment Termination Date applicable to such L▇▇▇▇▇’s Lender's Revolving Credit Commitments of such Class terminateCommitment. Accrued commitment fees shall be payable in Dollars and in arrears no later than 15 calendar days after the last day on each Quarterly Date of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) year and on the Revolving Commitment Termination Date, commencing on the first such date to occur after the Effective Date. All commitment fees shall be computed on which the Revolving Credit Commitments basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlyfees, no portion of the Revolving Credit Commitments Commitment of a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay in Dollars (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the as interest rate applicable to Adjusted Term SOFR on Fixed Rate Revolving Loans Borrowings on the average daily face amount Dollar Amount of such Lender’s 's LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Lender's Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each the Issuing Bank, for its own account, a fronting fee, in respect Bank upon issuance of each any Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate fronting fee equal to an amount calculated at the rate agreed by such Issuing Bank and the applicable Borrowers (but in any event not to exceed of 0.125% per annum) of annum based on the daily face amount stated Dollar Amount and term of such Letter of Credit, as well as such the Issuing Bank’s reasonable and customary 's standard fees with respect to the administration, issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding the last Business Day of each March, June, September and December shall be payable in Dollars in arrears for on the quarterly period then ended (orthird Business Day following each Quarterly Date, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph Section 2.13(b) shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by in writing between the Borrowers Borrower and the Administrative Agent in writing(including, without limitation, all fees due and payable pursuant to the terms of the Fee Letter).
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except circumstances.
(e) Notwithstanding anything to the contrary in this Section 2.13, all commitment fees, facility fees, participation fees and fronting fees with respect to letters of credit and administrative agency fees for periods to but excluding the Effective Date shall accrue and be payable as otherwise provided in the Existing Credit Agreement or Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
Letter (f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) as defined in the case of clause (xExisting Credit Agreement), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transactionapplicable.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Trinity Industries Inc), Credit Agreement (Trinity Industries Inc)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a the rate equal to the Commitment Fee Rate of 0.25% per annum applicable to on the daily unused amount of the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Original Restatement Effective Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the Original Restatement Effective Date. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlypursuant to this Section 2.12(a), no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used as in effect from time to determine the time for interest rate applicable to Adjusted Term SOFR Rate on Eurodollar Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Original Restatement Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at the rate of each Letter 0.25% per annum on the daily outstanding amount of such Issuing Bank’s Letters of Credit issued by such Issuing Bank for during the period from and including the Original Restatement Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterOriginal Restatement Effective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent and the Collateral Agent, for its their own accountaccounts, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingor the Collateral Agent, as the case may be.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable relevant Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Rite Aid Corp), Credit Agreement (Rite Aid Corp)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Applicable Rate on the daily unused amount of each Revolving Commitment Fee Rate per annum applicable to the Revolving Credit or Phase II Tranche A Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date dates on which such Commitments terminate, commencing on the Revolving Credit Commitments first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlywith respect to Revolving Commitments, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used from time to determine time in effect for purposes of determining the interest rate applicable to Adjusted Term SOFR Rate Eurocurrency Revolving Loans on the daily face amount of such Lender’s 's LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Lender's Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each the Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at the rate of each Letter 0.125% per annum on the average daily amount of Credit issued by such Issuing Bank for the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the Issuing Bank’s reasonable and customary 's standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefor.
(c) [Reserved].
(d) Each Borrower agrees to pay to the Administrative Agent, for its own account, the fees in the amounts and at the times separately agreed upon by the Borrowers and the Administrative Agent in writing.
(e) demand. All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment participation fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fronting fees shall be made computed on the basis of a 360-day year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). Each determination .
(c) Except in the case of mandatory prepayments required under Section 2.11(c) as a result of a Prepayment Event referred to in clause (a), (b) or (d) of the definition of the term Prepayment Event or required under Section 2.11(d), all voluntary and mandatory prepayments of Tranche B Term Loans made on or prior to the Tranche B Refinancing Date, including the prepayment contemplated by the Administrative Agent Second Amendment, will be accompanied by payment of a prepayment fee equal to (i) 2.0% of the aggregate amount of any fee hereunder shall be conclusive such prepayment, if such prepayment is made during the first year after the Effective Date and binding for all purposes(ii) 1.0% of the aggregate amount of such prepayment, absent manifest errorif such prepayment is made during the second year after the Effective Date.
Appears in 2 contracts
Sources: Credit Agreement (Dex Media Inc), Credit Agreement (Dex Media East LLC)
Fees. (a) Each applicable Borrower agrees to pay to the Administrative Agent in dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a the rate equal to the Commitment Fee Rate of 0.50% per annum applicable to on the actual daily unused amount of the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s the Revolving Credit Commitments of such Class terminate. Accrued Beginning with March 31, 2020, accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the third Business Day following the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlyfees, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable Borrower agrees to pay (i) to the Administrative Agent in dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate Rate, in each case, used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurocurrency Revolving Loans on the daily face amount of such Revolving Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related Exposure. In addition, each Borrower agrees to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) pay to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the Borrowers for the period from the date of issuance of such Letter of Credit to through the expiration date of such Letter of Credit (or if terminated on an earlier date, date to the termination date of such Letter of Credit), computed at a rate equal to 0.125% per annum or such other percentage per annum to be agreed upon between the rate agreed by Borrowers and such Issuing Bank and the applicable Borrowers (but in any event not to exceed 0.125% per annum) of the daily face outstanding amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in the case of the payment made commencing on September 30March 31, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after the last day of such calendar quarter2020; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demanddemand until the expiration or cancellation of all outstanding Letters of Credit. Any other All participation fees payable to any Issuing Bank pursuant to this paragraph and fronting fees shall be computed on the basis of a year of 360 days and shall be payable within 30 for the actual number of days after receipt of a written demand (accompanied by reasonable back-up documentation) thereforelapsed.
(c) [Reserved].
(d) Each Borrower agrees to pay to the Administrative Agent, for its own account, the fees in the amounts and at the times separately agreed upon by the Borrowers and the Administrative Agent in writing.
(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable an Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid hereunder shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(fd) In the event that, on or prior Each Borrower agrees to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lendersits own account, (I) an agency fee payable in the case of clause amount and at the times separately agreed upon between the Borrowers and the Administrative Agent.
(x)e) Notwithstanding the foregoing, a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaidand subject to Section 2.22, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal no Borrower shall be obligated to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior pay any amounts to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Defaulting Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All this Section 2.12; provided that such amounts shall be due and payable on to any non-Defaulting Lender which assumes the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis obligations of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last dayDefaulting Lender pursuant to Section 2.22(a)(iv). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Endeavor Group Holdings, Inc.), Revolving Credit Agreement (Endeavor Group Holdings, Inc.)
Fees. (a) Each applicable Borrower agrees The Borrowers agree to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Applicable Commitment Fee Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the first Business Day following the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlyfees, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender and Protective Advances shall be disregarded for such purpose).
(b) Each applicable Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter the Letters of CreditCredit issued for the account of such Borrower, which shall accrue at the Applicable Revolving Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurocurrency Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) in respect of such Letters of Credit during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank, for its own account, Bank a fronting feefee with respect to Letter of Credit issued by it for the account of such Borrower, in respect which shall accrue at the rate or rates per annum separately agreed upon between the Company and such Issuing Bank on the average daily amount of each Letter the LC Exposure attributable to Letters of Credit issued by such Issuing Bank (excluding any portion thereof attributable to unreimbursed LC Disbursements) for the account of such Borrower during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any such Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orfirst Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each Borrower The Company agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Company and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable an Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Murphy USA Inc.), Credit Agreement (Murphy USA Inc.)
Fees. (a) Each applicable Borrower agrees The Borrowers agree to pay to the Administrative Agent in dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a the rate equal to of the Commitment Fee Rate Percentage per annum applicable to the Revolving Credit Commitment of such Class on the average daily unused amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s the Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the third Business Day following the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the Effective Date. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlyfees, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable Borrower agrees The Borrowers agree to pay (i) to the Administrative Agent in dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurodollar Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements)Disbursements but taking into account the maximum amount available to be drawn under all outstanding Letters of Credit, whether or not such maximum amount is then in effect) during the period from and including the Closing Effective Date to and including the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank, for its own account, Bank in dollars a fronting fee, in which shall accrue at (x) a rate equal to 0.125% per annum or (y) a lesser rate per annum agreed to by any Issuing Bank (with respect of each to any Letter of Credit issued by such Issuing Bank for Bank), in each case on the period from daily amount of the date of issuance of such Letter LC Exposure, attributable to Letters of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed issued by such Issuing Bank (excluding any portion thereof attributable to unreimbursed LC Disbursements but taking into account the maximum amount available to be drawn under all outstanding Letters of Credit, whether or not such maximum amount is then in effect) during the period from and including the Effective Date to and including the later of the date of termination of the Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after third Business Day following the last day of March, June, September and December, respectively, commencing on the first such calendar quarterdate to occur after the Effective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefor.
(c) [Reserved].
(d) Each Borrower agrees to pay to the Administrative Agent, for its own account, the fees in the amounts and at the times separately agreed upon by the Borrowers and the Administrative Agent in writing.
(e) demand. All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment participation fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fronting fees shall be made computed on the basis of a 360-day year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). Each determination by .
(c) The Borrowers agree to pay to the Administrative Agent, for its own account, fees payable in the amounts and at the times separately agreed upon between the Borrowers and the Administrative Agent in the Fee Letter.
(d) The Borrowers agree to pay to the Administrative Agent in dollars for the account of each Term Lender a ticking fee, which shall accrue at the rate of the Ticking Fee Percentage per annum, on an amount equal to the amount of any fee hereunder the Initial Term Commitment of such Term Lender as of the Effective Date, during the period from and including the Allocation Date to but excluding the Effective Date. Accrued ticking fees shall be conclusive payable on the Effective Date. All ticking fees shall be computed on the basis of a year of 360 days and binding shall be payable for all purposesthe actual number of days elapsed (including the first day but excluding the last day).
(e) Notwithstanding the foregoing, absent manifest errorand subject to Section 2.21, the Borrowers shall not be obligated to pay any amounts to any Defaulting Lender pursuant to this Section 2.11.
Appears in 2 contracts
Sources: Credit Agreement (Viasat Inc), Credit Agreement (Viasat Inc)
Fees. (a) Each applicable Borrower The Company agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit unused Commitment of such Class of such Revolving Lender Lender, subject to adjustment as provided in Section 2.18, during the period from and including the Closing Date date of this Agreement to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day Business Day of each March, June, September and December for of each year, on any date prior to the quarterly period then ended (commencing Maturity Date on September 30, 2017, but in which the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) Commitments terminate and on the Maturity Date, commencing on the first such date on which to occur after the Revolving Credit Commitments of the applicable Class terminatedate hereof. For purposes of calculating the All commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as computed on the basis of a result year of outstanding Swingline Loans360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(b) Each applicable Borrower The Company agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving Eurocurrency Loans on the average daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank, for its own account, Lender a fronting fee, in respect which shall accrue at the rate of each Letter 0.125% per annum on the average daily amount of Credit issued by such Issuing Bank for the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such each Issuing BankLender’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orfifteenth day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank Lender pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each Borrower The Company agrees to pay to the Administrative Agent, each for its their own account, the fees payable in the amounts and at the times separately agreed upon by in writing between the Borrowers Company and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing BankLender, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided absent error in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee calculation or payment datethereof.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Sherwin Williams Co), Credit Agreement (Sherwin Williams Co)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent in dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a the rate equal to the Commitment Fee Rate of 0.50% per annum applicable to the Revolving Credit Commitment of such Class on the average daily unused amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s the Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the first Business Day following the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the date hereof; provided that any such fees accrued from the Effective Date through the end of the applicable Class terminatefirst full fiscal quarter following the Effective Date shall be payable on the first Business Day following the last day of such full quarter. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlyfees, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent in dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurodollar Revolving Loans on the average daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to and including the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each Issuing Bank, for its own account, Bank in dollars a fronting fee, in respect of fee for each Letter of Credit equal to 0.125% per annum on the average daily amount of the LC Exposure attributable to Letters of Credit issued by such Issuing Bank for (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to and including the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal amendment or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees for standby Letters of Credit accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orfirst Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on Notwithstanding the dates dueforegoing, in Dollars and in immediately available fundssubject to Section 2.22, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid Borrower shall not be refundable under obligated to pay any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or prior amounts to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made Defaulting Lender pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing TransactionSection 2.12.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (TA Holdings 1, Inc.), Credit Agreement (TA Holdings 1, Inc.)
Fees. (a) Each applicable Borrower agrees The Borrowers agree to pay to the Administrative Agent in dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a the rate equal to of the Commitment Fee Rate Percentage per annum applicable to the Revolving Credit Commitment of such Class on the average daily unused amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s the Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the third Business Day following the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the Effective Date. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlyfees, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable Borrower agrees The Borrowers agree to pay (i) to the Administrative Agent in dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Eurodollar Loans, Term SOFR Rate Benchmark Revolving Loans or RFR Loans (as applicable) on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements)Disbursements but taking into account the maximum amount available to be drawn under all outstanding Letters of Credit, whether or not such maximum amount is then in effect) during the period from and including the Closing Effective Date to and including the later of the date on which such Revolving Lender▇▇▇▇▇▇’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank, for its own account, Bank in dollars a fronting fee, in which shall accrue at (x) a rate equal to 0.125% per annum or (y) a lesser rate per annum agreed to by any Issuing Bank (with respect of each to any Letter of Credit issued by such Issuing Bank for Bank), in each case on the period from daily amount of the date of issuance of such Letter LC Exposure, attributable to Letters of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed issued by such Issuing Bank (excluding any portion thereof attributable to unreimbursed LC Disbursements but taking into account the maximum amount available to be drawn under all outstanding Letters of Credit, whether or not such maximum amount is then in effect) during the period from and including the Effective Date to and including the later of the date of termination of the Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after third Business Day following the last day of March, June, September and December, respectively, commencing on the first such calendar quarterdate to occur after the Effective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefor.
(c) [Reserved].
(d) Each Borrower agrees to pay to the Administrative Agent, for its own account, the fees in the amounts and at the times separately agreed upon by the Borrowers and the Administrative Agent in writing.
(e) demand. All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment participation fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fronting fees shall be made computed on the basis of a 360-day year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). Each determination by .
(c) The Borrowers agree to pay to the Administrative Agent, for its own account, fees payable in the amounts and at the times separately agreed upon between the Borrowers and the Administrative Agent in the Fee Letter.
(d) The Borrowers agree to pay to the Administrative Agent in dollars for the account of each Term Lender a ticking fee, which shall accrue at the rate of the Ticking Fee Percentage per annum, on an amount equal to the amount of any fee hereunder the Initial Term Commitment of such Term Lender as of the Effective Date, during the period from and including the Allocation Date to but excluding the Effective Date. Accrued ticking fees shall be conclusive payable on the Effective Date. All ticking fees shall be computed on the basis of a year of 360 days and binding shall be payable for all purposesthe actual number of days elapsed (including the first day but excluding the last day).
(e) Notwithstanding the foregoing, absent manifest errorand subject to Section 2.21, the Borrowers shall not be obligated to pay any amounts to any Defaulting Lender pursuant to this Section 2.11.
Appears in 2 contracts
Sources: Credit Agreement (Viasat Inc), Credit Agreement (Viasat Inc)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to the date on which such L▇▇▇▇▇Lender’s Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day Business Day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) and on the date on which the Revolving Credit Commitments of the applicable Class terminate. For purposes of calculating the commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as a result of outstanding Swingline Loans.
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation in each Letter of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR LIBO Rate Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), during the period from and including the Closing Date to the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers Borrower (but in any event not to exceed 0.125% per annum) of the daily face amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding the last Business Day of each March, June, September and December shall be payable in arrears for the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after on the last day Business Day of such calendar quarter; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefor.
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees in the amounts and at the times separately agreed upon by the Borrowers Borrower and the Administrative Agent in writing.
(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or prior to the date that is six twelve months after the Amendment No. 8 Effective Closing Date, a the Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Initial Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Initial Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Initial Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Initial Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six twelve months after the Amendment No. 8 Effective Closing Date, all or any portion of the Amendment No. 8 Initial Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: First Lien Credit Agreement (Isos Acquisition Corp.), First Incremental Amendment (Isos Acquisition Corp.)
Fees. (a) Each applicable Borrower agrees Borrowers, jointly and severally, agree to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment feefee (“Revolving Commitment Fee”), which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment of such Class Facility Applicable Margin on the average daily amount of the Unused unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to but excluding the date on which such L▇▇▇▇▇’s the Revolving Credit Commitments Commitment of such Class terminateRevolving Lender terminates. Accrued commitment fees Revolving Commitment Fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments of terminate, commencing on the applicable Class terminate. For purposes of calculating first such date to occur after the commitment fees only, no portion of date hereof; provided that any Revolving Commitment Fees accruing after the date on which the Revolving Credit Commitments terminate shall be deemed utilized as payable on demand. All Revolving Commitment Fees shall be computed on the basis of a result year of outstanding Swingline Loans360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(b) Each applicable Borrower agrees Borrowers, jointly and severally, agree to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the then-applicable Revolving Facility Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving Loans Margin for each day on the average daily face amount of such Revolving Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each the Issuing Bank, Bank for its own account, account a fronting fee, in respect which shall accrue at the rate of each Letter 0.125% per annum on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) attributable to Letters of Credit issued by such the Issuing Bank for during the period from and including the Closing Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the Issuing Bank’s reasonable standard fees and customary fees commissions with respect to the issuance, amendment, cancellation, negotiation, transfer, presentment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation Unless otherwise specified above, participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended third (or3rd) Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from first such date to occur after the Closing Date to such date) no later than 15 calendar days after the last day of such calendar quarterDate; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 ten (10) days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each Borrower agrees Borrowers, jointly and severally, agree to pay to the Administrative Agent, for its own account, the administrative fees payable in the amounts and at the times separately agreed upon by the Borrowers between Rovi and the Administrative Agent (the “Administrative Agent Fees”). The Administrative Agent Fees shall be paid on the dates due, in writingimmediately available funds, to the Administrative Agent. Once paid, none of the Administrative Agent Fees shall be refundable under any circumstances.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees Revolving Commitment Fees and participation fees, to the Revolving Lenders. Fees Any such fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (TiVo Corp), Credit Agreement (Rovi Corp)
Fees. (a) Each applicable Borrower agrees The Borrowers agree to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) , a commitment fee, which shall accrue at a the rate equal to the Commitment Fee Rate per annum applicable to set forth as describe in, or under the Revolving Credit caption “Commitment Fee”, as applicable, in the definition of such Class “Applicable Rate” on the average daily amount of the Unused Available Revolving Credit Commitment of each such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which each such L▇▇▇▇▇Lender’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment Commitment fees shall be payable in arrears no later than 15 calendar days after accrued through and including the last day of each Marchcalendar quarter shall be payable on the second Business Day of each April, JuneJuly, September October and December for the quarterly period then ended (commencing on September 30, 2017, but in the case January of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments Commitment terminates, commencing on the first such date to occur after the Effective Date. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed. For Solely for purposes of calculating determining the Available Revolving Commitment in connection with the computation of commitment fees only, no portion of the Revolving Credit Commitments Lenders, the Revolving Exposure shall be deemed utilized as a result to exclude the aggregate principal amount of outstanding Swingline Loans.
(b) Each applicable Borrower agrees The Borrowers agree to pay (i) to the Administrative Agent Agent, for the account of (and to be shared pro rata among) each Revolving Lender of any Class (other than any Defaulting Lender) , a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurodollar Revolving Loans on the average daily face amount of such Lender’s applicable LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related Exposure. In addition, the Borrowers agree to its Revolving Credit Commitment pay the applicable Issuing Bank a fronting fee with respect to each Letter of Credit, in an amount equal to the greater of (i) 0.125% of the face amount of such Class in respect Letter of Credit and (ii) $1,000, payable on the date of the issuance and any renewal or extension of such Letter of Credit (including and, in the event that the face amount of any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from is increased after the date of issuance of such Letter of Credit thereof, the Borrowers agree to pay the expiration applicable Issuing Bank, on the date of any such Letter of Credit (or if terminated on increase, an earlier date, to the termination date of such Letter of Credit), computed at a rate additional fronting fee in an amount equal to the rate agreed by such Issuing Bank and the applicable Borrowers greater of (but in any event not to exceed i) 0.125% per annum) of the daily amount by which the face amount of such Letter of CreditCredit has been increased and (ii) $1,000), as well as such the applicable Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last day of each calendar quarter shall be payable on the second Business Day of each MarchApril, JuneJuly, September October and December shall be payable in arrears for January of each year, commencing on the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 days 10 Business Days after receipt demand. All participation fees and fronting fees payable pursuant to this paragraph (b) shall be computed on the basis of a written demand (accompanied by reasonable back-up documentation) thereforyear of 360 days and shall be payable for the actual number of days elapsed.
(c) [Reserved].
(d) Each Borrower agrees The Borrowers agree to pay to (i) the Administrative Agent and the other Agents the fees set forth in the Fee Letter, and (ii) the Administrative Agent, for its own account, the any other fees payable in the amounts and at the times separately agreed upon by between the Borrowers and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Pilgrims Pride Corp), Credit Agreement (Pilgrims Pride Corp)
Fees. (a) Each applicable Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) and on the date on which the Revolving Credit Commitments of the applicable Class terminate. For purposes of calculating the commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as a result of outstanding Swingline Loans.
(b) Each applicable Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation in each Letter of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), during the period from and including the Closing Date to the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers (but in any event not to exceed 0.125% per annum) of the daily face amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding the last Business Day of each March, June, September and December shall be payable in arrears for the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after the last day of such calendar quarter; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefor.
(c) [Reserved]Parent B▇▇▇▇▇▇▇ agrees to pay to the Amendment No. 13 Lead Arranger, for its own account or the account of the Amendment No. 13 Incremental Bridge Term Loan Lenders, all fees payable pursuant to the Bridge Fee Letter.
(d) Each Borrower agrees to pay to the Administrative Agent, for its own account, the fees in the amounts and at the times separately agreed upon by the Borrowers and the Administrative Agent in writing.
(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: First Lien Credit Agreement (Lucky Strike Entertainment Corp), First Lien Credit Agreement (Lucky Strike Entertainment Corp)
Fees. (a) Each applicable Borrower agrees The Revolving Borrowers agree to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment Commitments of such Class on the average actual daily amount of the Unused unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to the date on which such L▇▇▇▇▇▇’s Revolving Credit Commitments Commitment of such Class terminateterminates. Accrued commitment Commitment fees shall be payable in arrears no later than within 15 calendar days Business Days after the last day of each March, June, September and December Scheduled Payment Date for the quarterly period then most recently ended (commencing on September 30or, 2017, but in the case of the first such payment made on September 30, 2017after the Closing Date, for the period from the Closing Date to such date) ), and on the date on which the Revolving Credit Commitments of the applicable Class terminate. For purposes of calculating the commitment fees onlyfee payable pursuant to this Section 2.12(a), the Revolving Credit Commitment of any Class shall be deemed to have been used to the extent of (i) the outstanding principal amount of the Revolving Loans of such Class, (ii) the LC Exposure attributable to the Revolving Credit Commitment of such Class and (iii) the Ancillary Outstandings attributable to the Revolving Credit Commitment of such Class, but no portion of the Revolving Credit Commitments Commitment of any Class shall be deemed utilized to have been used as a result of any outstanding Swingline LoansLoan.
(b) Each applicable Borrower agrees The Revolving Borrowers agree to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) Class, a participation fee with respect to its participation participation, in each any outstanding Letter of CreditCredit that is not subject to Letter of Credit Support, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Revolving Loans of such Class that are Term SOFR Rate Revolving Loans on the daily face amount of the portion of such Lender▇▇▇▇▇▇’s LC Exposure that is attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof that is attributable to any unreimbursed LC DisbursementsDisbursement), during the period from and including the Closing Date to the earlier of (A) the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit and, (including any such Letter of Credit Exposure that may exist following B) the termination of such Revolving Credit Commitments) Termination Date, and (ii) to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit that is not subject to Letter of Credit Support issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the earlier of (A) the expiration date of such Letter of Credit Credit, (or if terminated B) the date on an earlier date, to the termination date of which such Letter of Credit)Credit terminates, (C) the Termination Date, computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers Borrower Representative (but in any event not to exceed 0.125% per annum) of the daily face amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or the processing of drawings any drawing thereunder. Participation fees and fronting fees accrued shall accrue to but excluding the last Business Day of each March, June, September Scheduled Payment Date and December shall be payable in arrears for the quarterly period then most recently ended (or, in the case of the payment made on September 30, 2017the first such date after the Closing Date, for the period from the Closing Date to such date) no later than within 15 calendar days Business Days after the last day of such calendar quartereach Scheduled Payment Date); provided provided, that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate and prior to the Termination Date shall be payable on demand. Any other fees fee payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefor.
(c) [Reserved].
(d) Each Borrower agrees The Borrowers agree to pay (i) to the Administrative Agent and US Collateral Agent, for each of their own accounts, the annual administration fee described in the Administrative Agent Fee Letter and (ii) to the Non-US Collateral Agent, for its own account, the fees annual administrative fee described in the amounts and at the times separately agreed upon by the Borrowers and the Administrative Non-US Collateral Agent in writingFee Letter.
(e) All fees payable hereunder shall be paid on the dates date due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lendersany Issuing Bank). Fees paid shall not be refundable under any circumstances circumstance except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or prior to the date that is six months after the First Amendment No. 8 Effective Date, a any Term Borrower (xA) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 2021 Repricing Dollar Term Loans Loan, 2021 Repricing Euro Term Loan or Tranche B-3 Term Loan, as applicable, in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section Section 2.11(b)(iii) that constitutes a Repricing Transaction) ), or (yB) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the such Term Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 2021 Repricing Dollar Term Loan Lenders, 2021 Repricing Euro Term Loan Lenders or Tranche B-3 Term Lenders, as applicable, (I) in the case of clause (xA), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 2021 Repricing Dollar Term Loans Loan, 2021 Repricing Euro Term Loan or Tranche B-3 Term Loan, as applicable, so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (yB), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 2021 Repricing Dollar Term Loans Loan, 2021 Repricing Euro Term Loan or Tranche B-3 Term Loan that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the First Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 2021 Repricing Dollar Term Loans, 2021 Repricing Euro Term Loans or Tranche B-3 Term Loans, as applicable, held by any 2021 Repricing Dollar Term Loan Lender, 2021 Repricing Euro Term Loan Lender or Tranche B-3 Term Lender, as applicable, are prepaid, repaid, refinanced, substituted or replaced pursuant to Section Section 2.19(b)(iv) as a result of, or in connection with, such 2021 Repricing Dollar Term Loan Lender, 2021 Repricing Euro Term Loan Lender or Tranche B-3 Term Lender, as applicable, not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (yB) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction. For the avoidance of doubt, (i) a Repricing Transaction with respect to 2021 Repricing Dollar Term Loans will not result in any premium payable pursuant to this Section 2.12(f) applying to 2021 Repricing Euro Term Loans or Tranche B-3 Term Loans, (ii) a Repricing Transaction with respect to the 2021 Repricing Euro Term Loans will not result in any premium payable pursuant to this Section 2.12(f) applying to 2021 Repricing Dollar Term Loans or Tranche B-3 Term Loans and (iii) a Repricing Transaction with respect to the Tranche B-3 Term Loans will not result in any premium payable pursuant to this Section 2.12(f) applying to 2021 Repricing Euro Term Loans or 2021 Repricing Dollar Term Loans.
(g) In the event that, prior to the date that is six months after the Eleventh Amendment Effective Date, any Term Borrower (A) prepays, repays, refinances, substitutes or replaces any Eleventh Amendment Dollar Refinancing Term Loan or any Eleventh Amendment Euro Refinancing Term Loans in connection with a Specified Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Specified Repricing Transaction), or (B) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Specified Repricing Transaction, such Term Borrower shall pay to the Administrative Agent, for the ratable account of each of the relevant Term Lenders, (I) in the case of clause (A), a premium of 1.00% of the aggregate principal amount of the Eleventh Amendment Dollar Refinancing Term Loans or Eleventh Amendment Euro Refinancing Term Loans, as applicable, so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (B), a fee equal to 1.00% of the aggregate principal amount of the Eleventh Amendment Dollar Refinancing Term Loans or Eleventh Amendment Euro Refinancing Term Loans, as applicable, that are the subject of such Specified Repricing Transaction outstanding immediately prior to such amendment. If, prior to the date that is six months after the Eleventh Amendment Effective Date, all or any portion of Eleventh Amendment Dollar Refinancing Term Loan or Eleventh Amendment Euro Refinancing Term Loans, as applicable, held by any Term Lender, are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (B) above (or otherwise in connection with a Specified Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Specified Repricing Transaction.
(h) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
(i) The amount and timing of payments of fees in respect of any Ancillary Facility will be agreed by the relevant Ancillary Lender and the Applicable Ancillary Borrower under such Ancillary Facility.
Appears in 2 contracts
Sources: Credit Agreement (NIQ Global Intelligence PLC), Credit Agreement (NIQ Global Intelligence LTD)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, fee which shall accrue at a the rate equal to the Commitment Fee Rate of 0.375% per annum applicable to on the daily unused amount of the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees in respect of the Revolving Commitments shall be payable in arrears no later than 15 calendar days after on the third Business Day following the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees only, no portion in respect of the Revolving Credit Commitments Commitments, a Revolving Commitment of a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurocurrency Revolving Loans on the average daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at the rate of each Letter 0.125% per annum (or at such rate as may be separately agreed upon between the Borrower and any such Issuing Bank) on the average daily amount of the LC Exposure attributable to Letters of Credit issued by such Issuing Bank for (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable an Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (SVMK Inc.), Credit Agreement (SVMK Inc.)
Fees. (a) Each applicable Borrower agrees The Borrowers agree to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment Commitments of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to the date on which such L▇▇▇▇▇Lender’s Revolving Credit Commitments of such Class terminateterminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day Business Day of each MarchApril, JuneJuly, September October and December January (commencing with the last Business Day of Fiscal Quarter ended April 30, 2019) for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) and on the date on which the Revolving Credit Commitments of the applicable Class terminate. For purposes of calculating the commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as a result of outstanding Swingline Loans.
(b) Each applicable Borrower agrees Subject to Section 2.21, the Borrowers agree to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR LIBO Rate Revolving Loans (with respect to Letters of Credit issued in US Dollars) or BA Rate Revolving Loans (with respect to Letters of Credit issued in Canadian Dollars) of such Class on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), during the period from and including the Closing Date to the earlier of (A) the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit and (including any such Letter of Credit Exposure that may exist following B) the termination of such Revolving Credit Commitments) Termination Date and (ii) to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the earlier of (A) the expiration date of such Letter of Credit Credit, (or if terminated B) the date on an earlier date, to the termination date of which such Letter of Credit)Credit terminates or (C) the Termination Date, computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers Borrower Representative (but in any event not to exceed 0.125% per annum) of the daily face amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding the last Business Day of each MarchApril, JuneJuly, September October and December January shall be payable in arrears for the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after the last day Business Day of such calendar fiscal quarter; provided provided, that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefor.
(c) [Reserved].
(d) Each [Reserved]
(e) The Borrower Representative agrees to pay to the Administrative Agent, for its own account, the fees in the amounts and at the times separately agreed upon by the Borrowers Initial Borrower and the Administrative Agent in writingwriting (including, without limitation, the First Lien Agency Fee under and as defined in the Fee Letter).
(ef) All fees payable hereunder shall be paid on the dates due, (i) in the case of the fees contemplated in Sections 2.12(a) and (e), in US Dollars and (ii) in the case of the fees contemplated in Section 2.12(b), the currency in which the applicable Letter of Credit is issued in and, in each case, in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to itany Issuing Bank) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances circumstances, except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(fg) In the event that, on or prior to the date that is six twelve months after the Amendment No. 8 Effective Closing Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transactionoccurs, the Borrower of the Amendment No. 8 Term Loans Borrowers shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause clauses (x)a) and (c) of the definition of “Repricing Transaction”, a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced (including pursuant to Section 2.19(b)(iv)) and (II) in the case of clause (y)b) of the definition of “Repricing Transaction”, a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(gh) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Knowlton Development Corp Inc), Credit Agreement (Knowlton Development Parent, Inc.)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent in dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to on the actual daily unused amount of the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s the Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last 15th day of each of March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on March 15, 2016. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlyfees, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent in dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurocurrency Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank, for its own account, Bank in dollars a fronting fee, in respect which shall accrue at the rate of each Letter 0.125% per annum on the average daily amount of the LC Exposure attributable to Letters of Credit issued by such Issuing Bank for (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunderLC Exposure. Participation fees and fronting fees accrued to but excluding through and including the last Business Day 15th day of each of March, June, September and December of each year shall be payable in arrears for the quarterly period then ended (oron such day, in the case of the payment made commencing on September 30March 15, 20172016, for the period from the Closing Date to such date) no later than 15 calendar days after the last day of such calendar quarter; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees an agency fee payable in the amounts amount and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a The Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans Parties shall pay to the Administrative Agent, Agent for the ratable account of each Term B-1 Dollar Lender a ticking fee accruing from and after December 14, 2015 and until the earlier of the applicable Amendment No. 8 Commitment Termination Date and the Effective Date at a rate equal to the Term Lenders, (I) in B-1 Dollar Ticking Fee Rate on the case of clause (x), a premium of 1.00% of the aggregate principal outstanding allocated amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) commitments of such Lender in the case of clause (y), a fee equal to 1.00% respect of the aggregate principal amount Term B-1 Dollar Loans as of the Amendment Noeach day during such period. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) Such ticking fees shall be earned as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement they accrue and will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date earlier of effectiveness the Commitment Termination Date and the Effective Date.
(e) The Borrower Parties shall pay to the Administrative Agent for the account of each Term B-1 Euro Lender a ticking fee accruing from and after December 18, 2015 and until the earlier of the Commitment Termination Date and the Effective Date at a rate equal to the Term B-1 Euro Ticking Fee Rate on the outstanding allocated amount of the commitments of such Repricing TransactionLender in respect of the Term B-1 Euro Loans as of each day during such period. Such ticking fees shall be earned as they accrue and will be due and payable on the earlier of the Commitment Termination Date and the Effective Date.
(f) The Borrower Parties shall pay to Credit Suisse AG for the account of each Term A Lender a ticking fee accruing from and after October 17, 2015 and until the earlier of the Commitment Termination Date and the Effective Date at a rate equal to the Term A Ticking Fee Rate on the outstanding allocated amount of the commitments of such Lender in respect of the Term A Facility as of each day during such period. Such ticking fees shall be earned as they accrue and will be due and payable on the earlier of the Commitment Termination Date and the Effective Date.
(g) Unless otherwise indicated hereinNotwithstanding the foregoing, all computations of fees the Borrower shall not be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination obligated to pay any amounts to any Defaulting Lender pursuant to this Section 2.12, except as provided by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest errorSection 2.22.
Appears in 2 contracts
Sources: Third Amendment (Broadcom LTD), Second Amendment (Broadcom Cayman L.P.)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue accrue, for each day at a rate equal to the Commitment Fee Applicable Rate per annum applicable to the Revolving Credit Commitment of for such Class day, on the average daily unused amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender for each day during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlyfees, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue for each day at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR LIBO Rate Revolving Loans for such day, on the average daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) for each day during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank, for its own account, Bank a fronting fee, in respect of each Letter which shall accrue at the rate or rates per annum separately agreed upon between the Borrower and such Issuing Bank on the aggregate LC Exposure attributable to Letters of Credit issued by such Issuing Bank (excluding any portion thereof attributable to unreimbursed LC Disbursements) for each day during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such each Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative AgentAgent and the Arranger, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers and Borrower, the Administrative Agent in writingand the Arranger.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable an Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (PharMerica CORP), Credit Agreement (PharMerica CORP)
Fees. (a) Each applicable Borrower agrees The Borrowers agree to pay to the Administrative Agent a commitment fee for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused undrawn portion of the Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s the Lenders’ Revolving Credit Commitments terminate; it being understood that the LC Exposure of a Lender shall be included and the Swingline Exposure of a Lender shall be excluded in the drawn portion of the Revolving Commitment of such Class terminateLender for purposes of calculating the commitment fee. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments of terminate, commencing on the applicable Class terminatefirst such date to occur after the date hereof. For purposes of calculating the All commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as computed on the basis of a result year of outstanding Swingline Loans360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(b) Each applicable Borrower agrees The Borrowers agree to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurodollar Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each the Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at the rate of each Letter 0.25% per annum on the daily amount of the LC Exposure attributable to Letters of Credit issued by such Issuing Bank for (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the Issuing Bank’s reasonable standard fees and customary fees commissions with respect to the issuance, amendment, cancellation, negotiation, transfer, presentment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 ten (10) days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each Borrower agrees The Borrowers agree to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and dollars in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Escalade Inc), Credit Agreement (Escalade Inc)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment Commitments of such Class on the average actual daily amount of the Unused unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to the date on which such L▇▇▇▇▇▇’s Revolving Credit Commitments Commitment of such Class terminateterminates. Accrued commitment Commitment fees shall be payable in arrears no later than 15 calendar days after the last day of on each March, June, September and December Scheduled Payment Date for the quarterly period then most recently ended (commencing on September 30or, 2017, but in the case of the first such payment made on September 30, 2017after the Closing Date, for the period from the Closing Date to such date) ), and on the date on which the Revolving Credit Commitments of the applicable Class terminate. For purposes of calculating the commitment fees onlyfee payable pursuant to this Section 2.12(a), the Revolving Credit Commitment of any Class shall be deemed to have been used to the extent of the outstanding principal amount of the Revolving Loans of such Class and the LC Exposure attributable to the Revolving Credit Commitment of such Class, but no portion of the Revolving Credit Commitments Commitment of any Class shall be deemed utilized to have been used as a result of any outstanding Swingline LoansLoan.
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) Class, a participation fee with respect to its participation in each any outstanding Letter of CreditCredit that is not subject to Letter of Credit Support, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Revolving Loans of such Class that are Term SOFR Rate Revolving Benchmark Loans on the daily face amount portion of such Lender▇▇▇▇▇▇’s LC Exposure that is attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof that is attributable to any unreimbursed LC DisbursementsDisbursement), during the period from and including the Closing Date to the earlier of (A) the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit and (including any such Letter of Credit Exposure that may exist following B) the termination of such Revolving Credit Commitments) Termination Date, and (ii) to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit that is not subject to Letter of Credit Support issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the earliest of (A) the expiration date of such Letter of Credit Credit, (or if terminated B) the date on an earlier date, to the termination date of which such Letter of Credit)Credit terminates, (C) the Termination Date, computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers Borrower (but in any event not to exceed 0.125% per annum) of the daily face available amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or the processing of drawings any drawing thereunder. Participation fees and fronting fees accrued shall accrue to but excluding the last Business Day of each March, June, September Scheduled Payment Date and December shall be payable in arrears for the quarterly period then most recently ended (or, in the case of the payment made on September 30, 2017the first such date after the Closing Date, for the period from the Closing Date to such date) no later than 15 calendar days after the last day of such calendar quarteron each Scheduled Payment Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate and prior to the Termination Date shall be payable on demand. Any other fees fee payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefor.
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees annual administration fee described in the amounts and at the times separately agreed upon by the Borrowers and the Administrative Agent in writingFee Letter.
(ed) All fees payable hereunder shall be paid on the dates date due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lendersany Issuing Bank). Fees paid shall not be refundable under any circumstances circumstance except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(ge) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Cava Group, Inc.), Credit Agreement (Cava Group, Inc.)
Fees. (a) Each applicable Borrower agrees The Borrowers jointly and severally agree to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused Available Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to but excluding the date on which such L▇▇▇▇▇’s the last of the Revolving Credit Commitments (or Extended Revolving Commitments) of such Class terminateRevolving Lender terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day Business Day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments of the applicable Class terminate. For purposes of calculating the commitment fees only, no portion last of the Revolving Credit Commitments terminate, commencing on the first such date to occur after the Closing Date; provided that any commitment fees accruing after the date on which such Revolving Commitments terminate shall be deemed utilized as payable on demand. All commitment fees shall be computed on the basis of a result year of outstanding Swingline Loans360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(b) Each applicable Borrower agrees The Borrowers agree to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurocurrency Revolving Loans on the average daily face amount Dollar Amount of such Revolving Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Date to but excluding the later of the date on which the last of such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each the Issuing Bank, Bank for its own account, account a fronting fee, in respect which shall accrue at the rate per annum separately agreed upon by the Borrowers and the Issuing Bank on the average daily Dollar Amount of each Letter the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) attributable to Letters of Credit issued by such the Issuing Bank for during the period from and including the Closing Date to but excluding the later of the date of issuance termination of such Letter the last of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the Issuing Bank’s reasonable standard fees and customary fees commissions with respect to the issuance, amendment, cancellation, negotiation, transfer, presentment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation Unless otherwise specified above, participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended third (or3rd) Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from first such date to occur after the Closing Date to such date) no later than 15 calendar days after the last day of such calendar quarterDate; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments last of the applicable Class terminate, Revolving Commitments terminate and any such fees accruing after the date on which the such Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 ten (10) days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each Borrower agrees The Borrowers agree to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers and the Administrative Agent Agent.
(d) If any Repricing Event occurs prior to the date occurring six months after the Closing Date, the Borrowers agree to pay to the Administrative Agent, for the ratable account of each Lender with Term B Loans that are subject to such Repricing Event (including any Lender which is replaced pursuant to Section 9.02(e) as a result of its refusal to consent to an amendment giving rise to such Repricing Event), a fee in writingan amount equal to 1.00% of the aggregate principal amount of the Term B Loans subject to such Repricing Event. Such fees shall be earned, due and payable upon the date of the occurrence of the respective Repricing Event.
(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the applicable Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Endo International PLC), Credit Agreement (Endo International PLC)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment Commitments of such Class on the average actual daily amount of the Unused unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to the date on which such L▇▇▇▇▇▇’s Revolving Credit Commitments Commitment of such Class terminateterminates. Accrued commitment Commitment fees shall be payable in arrears no later than 15 calendar days after the last day of on each March, June, September and December Scheduled Payment Date for the quarterly period then most recently ended (commencing on September 30or, 2017, but in the case of the first such payment made on September 30, 2017after the Closing Date, for the period from the Closing Date to such date) ), and on the date on which the Revolving Credit Commitments of the applicable Class terminate. For purposes of calculating the commitment fees onlyfee payable pursuant to this Section 2.12(a), the Revolving Credit Commitment of any Class shall be deemed to have been used to the extent of the outstanding principal amount of the Revolving Loans of such Class and the LC Exposure attributable to the Revolving Credit Commitment of such Class, but no portion of the Revolving Credit Commitments Commitment of any Class shall be deemed utilized to have been used as a result of any outstanding Swingline LoansLoan.
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) Class, a participation fee with respect to its participation in each any outstanding Letter of CreditCredit that is not subject to Letter of Credit Support, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Revolving Loans of such Class that are Term SOFR Rate Revolving Benchmark Loans on the daily face amount portion of such Lender▇▇▇▇▇▇’s LC Exposure that is attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof that is attributable to any unreimbursed LC DisbursementsDisbursement), during the period from and including the Closing Date to the earlier of (A) the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit and (including any such Letter of Credit Exposure that may exist following B) the termination of such Revolving Credit Commitments) Termination Date, and (ii) to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit that is not subject to Letter of Credit Support issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the earliest of (A) the expiration date of such Letter of Credit Credit, (or if terminated B) the date on an earlier date, to the termination date of which such Letter of Credit)Credit terminates, (C) the Termination Date, computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers Borrower (but in any event not to exceed 0.125% per annum) of the daily face available amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or the processing of drawings any drawing thereunder. Participation fees and fronting fees accrued shall accrue to but excluding the last Business Day of each March, June, September Scheduled Payment Date and December shall be payable in arrears for the quarterly period then most recently ended (or, in the case of the payment made on September 30, 2017the first such date after the Closing Date, for the period from the Closing Date to such date) no later than 15 calendar days after the last day of such calendar quarteron each Scheduled Payment Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate and prior to the Termination Date shall be payable on demand. Any other fees fee payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefor.
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees annual administration fee described in the amounts and at the times separately agreed upon by the Borrowers and the Administrative Agent in writingFee Letter.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, The Borrower agrees to pay to the Administrative Agent for the account of each Delayed Draw Term Lender (or other than any Defaulting Lender) a ticking fee, which shall accrue at a rate equal to the Ticking Fee Rate per annum applicable Issuing Bankto the Delayed Draw Term Loan Commitments on the actual daily amount of the unused Delayed Draw Term Loan Commitment of such Lender during the period from and including the Amendment No. 2 Effective Date to the date on which the entire amount of such ▇▇▇▇▇▇’s Delayed Draw Term Loan Commitment terminates. Accrued ticking fees shall be payable in arrears on each Scheduled Payment Date for the quarterly period then most recently ended (or, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee first such payment date.
(f) In the event that, on or prior to the date that is six months made after the Amendment No. 8 2 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of period from the Amendment No. 8 Term Loans shall pay 2 Effective Date to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (xsuch date), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, on which all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest errorDelayed Draw Term Loan Commitments terminate.
Appears in 2 contracts
Sources: Credit Agreement (Cava Group, Inc.), Credit Agreement (Cava Group, Inc.)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a revolving commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to for revolving commitment fees on the daily unused amount of the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s Commitment terminates; provided that, (i) outstanding Letters of Credit shall be considered usage of the Revolving Credit Commitments Commitment for purposes of such Class terminatecalculating the revolving commitment fee and (ii) Swingline Loans shall not be considered usage of the Revolving Commitment for purposes of calculating the revolving commitment fee. Accrued revolving commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments of terminate, commencing on the applicable Class terminatefirst such date to occur after the Effective Date. For purposes of calculating the All commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as computed on the basis of a result year of outstanding Swingline Loans360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurodollar Revolving Loans on the average daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each Issuing Bank, for its own account, a fronting fee, in respect which shall accrue at the rate or rates per annum separately agreed upon between the Borrower and such Issuing Bank on the average daily amount of each Letter the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) attributable to Letters of Credit issued by such Issuing Bank for during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, negotiation, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing BankBanks, in the case of fees payable to itthem) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Inergy Midstream, L.P.), Credit Agreement (Inergy Midstream, L.P.)
Fees. (ai) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Lender having a Revolving Lender of any Class (other than any Defaulting Lender) Commitment, a commitment fee, which shall accrue at a rate per annum equal to the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment of such Class 0.50% on the average daily amount of the Unused unused Revolving Credit Commitment (provided that Swingline Loans shall not be deemed to be a use of the Revolving Commitments for the purpose of the calculation of such Class of such Revolving Lender commitment fee) during the period from and including the Closing Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments Commitment terminates (it being understood that LC Exposure constitutes a use of such Class terminatethe Revolving Commitment). Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for of each year, each date on which the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) Revolving Commitments are permanently reduced and on the date on which the Revolving Credit Commitments of terminate, commencing on the applicable Class terminatefirst such date to occur after the Closing Date. For purposes of calculating the All commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as computed on the basis of a result year of outstanding Swingline Loans360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(b) Each applicable The Borrower agrees to pay to (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at rate per annum equal to the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving Loans Margin on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each the Issuing Bank, Bank for its own account, account a fronting fee, in which shall accrue at a rate per annum equal to 0.25% on the daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) with respect of to each Letter of Credit issued by such Issuing Bank for during the period from and including the Closing Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation Accrued participation fees and fronting fees accrued to but excluding shall be payable in arrears on the last Business Day day of each March, June, September and December shall be payable in arrears for of each year, commencing on the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from first such date to occur after the Closing Date to such date) no later than 15 calendar days after the last day of such calendar quarterDate; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 ten days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agenteach Credit Party, for its own account, the fees and other amounts payable in connection herewith in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingsuch Credit Party.
(ed) All fees and other amounts payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, funds to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid hereunder shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit and Guarantee Agreement (General Communication Inc), Credit and Guarantee Agreement (Gci Inc)
Fees. (a) Each applicable Borrower agrees to pay As consideration for its services under this Agreement, Fidelity shall be entitled to the Administrative Agent fees computed in accordance with Articles I, II, III and IV of this Agreement and any additional fees described in this Section. A reasonable additional fee will be charged if Fidelity has to reprocess any contribution data transmission due to excessive errors of the Employer or payroll vendor. Additional services and special reports or statements may be provided if Fidelity and Employer enter into a separate written agreement identifying such services and the associated fees. Fidelity shall be entitled to reasonable compensation for its costs and expenses incurred in the account event of each Revolving Lender termination of any Class (other than any Defaulting Lender) this Agreement. Fidelity reserves the right to charge a commitment fee, which shall accrue at a rate termination fee equal to a full year of fees identified under Articles I, II, III and IV in the Commitment event the Employer terminates its relationship with Fidelity within one year after the Implementation Date. Fidelity will charge an additional Conversion Fee Rate per annum applicable under Article I if either the Employer acquires another Company and merges the acquired Company's plan with its Plan or the Employer receives additional assets to be added to its existing Plan. The Conversion Fee will be determined after the relevant information has been received by Fidelity. This fee will be communicated to the Revolving Credit Commitment Employer prior to the conversion of such Class on additional assets into the average daily amount Employer's Plan. The implementation service fee in Article I will be billed during the implementation process. The annual base fees in Article II will become effective as of the Unused Revolving Credit Commitment earlier of such Class the date the telephone exchange service becomes available to Participants and/or the Employer, or the date Fidelity processes withdrawals. These fees will be prorated through the end of such Revolving Lender during the period from initial quarter. All Fidelity fees in Articles II, III and including the Closing Date IV will be billed in arrears to the date Employer on which such L▇▇▇▇▇’s Revolving Credit Commitments a quarterly basis. An Employee is treated as a Participant for purposes of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after the last annual per-participant fee if he/she has an account balance on any day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but quarter or any previous quarter in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) and on the date on which the Revolving Credit Commitments of the applicable Class terminatetwelve-month annual billing cycle. For purposes of calculating the commitment fees only, no portion of the Revolving Credit Commitments shall Therefore a Participant receiving a distribution will be deemed utilized as considered a result of outstanding Swingline Loans.
(b) Each applicable Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation Participant in each Letter quarter in which he/she had an account and each quarter thereafter in the billing cycle. The trustee fees in Article III will become effective as of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), during the period from and including the Closing Date to the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class Plan's Effective Date in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers (but in any event not to exceed 0.125% per annumSection 1.01(g) of the daily face amount Adoption Agreement or the Implementation Date. If payment of such Letter the aforementioned fees is not received by Fidelity within sixty days of Creditreceipt of Fidelity's quarterly invoice, as well as such Issuing Bank’s reasonable and customary or the fees with respect are to be paid by the Participants, then the fees shall be paid from the Trust fund. Unless allocable to the issuanceaccounts of particular Participants, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding the last Business Day of each March, June, September and December shall be payable in arrears for the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after the last day of such calendar quarter; provided that all such fees shall be payable on charged against the date on which respective accounts of all Participants in such reasonable manner as the Revolving Credit Commitments of the applicable Class terminate, and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after receipt of a written demand (accompanied by reasonable back-up documentation) thereforTrustee may determine.
(c) [Reserved].
(d) Each Borrower agrees to pay to the Administrative Agent, for its own account, the fees in the amounts and at the times separately agreed upon by the Borrowers and the Administrative Agent in writing.
(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Adoption Agreement Non Standardized Profit Sharing Plan (Extended Systems Inc), Adoption Agreement (PSW Technologies Inc)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily unused amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the Effective Date. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlywith respect to Revolving Commitments, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the as interest rate applicable to Adjusted Term SOFR Rate on Eurodollar Revolving Loans on the average daily face amount of such Lender’s 's LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Lender's Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each the Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at the rate of each Letter 0.25% per annum on the average daily amount of Credit issued by such Issuing Bank for the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the Issuing Bank’s reasonable and customary 's standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (American Media Operations Inc), Amendment and Restatement Agreement (American Media Operations Inc)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent in dollars for the account of each Revolving Lender a commitment fee, which shall accrue at the rate of 0.25% per annum on the actual daily unused amount of the Revolving Commitment of such Lender during the period from and including the Effective Date to but excluding the date on which the Revolving Commitments terminate. Commitment fees accrued through and including the last day of March, June, September and December of each year shall be payable in arrears on the fifteenth day following such last day and on the date on which the Revolving Commitments terminate, commencing on October 15, 2021. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day and the last day of each period but excluding the date on which the Revolving Commitments terminate). For purposes of computing commitment fees, a Revolving Commitment of a Lender shall be deemed to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender.
(b) The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) and on the date on which the Revolving Credit Commitments of the applicable Class terminate. For purposes of calculating the commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as a result of outstanding Swingline Loans.
(b) Each applicable Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate Rate, in each case, used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving Loans Loans, on the daily face amount of such Revolving Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related Exposure. In addition, the Borrower agrees to its Revolving Credit Commitment pay to the Administrative Agent for the account of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each Issuing Bank, for its own account, a fronting fee, fee in respect of each Letter of Credit issued by such Issuing Bank to the Borrower for the period from the date of issuance of such Letter of Credit to through the expiration date of such Letter of Credit (or if terminated on an earlier date, date to the termination date of such Letter of Credit), computed at a rate equal to 0.125% per annum or such other percentage per annum to be agreed upon between the rate agreed by Borrower and such Issuing Bank and the applicable Borrowers (but in any event not to exceed 0.125% per annum) of the daily face outstanding amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (or15th of January, in the case April, July and October of the payment made each year, commencing on September 30October 15, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after the last day of such calendar quarter2021; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demanddemand until the expiration or cancellation of all outstanding Letters of Credit. Any other All participation fees payable to any Issuing Bank pursuant to this paragraph and fronting fees shall be computed on the basis of a year of 360 days and shall be payable within 30 for the actual number of days after receipt of a written demand (accompanied by reasonable back-up documentation) thereforelapsed.
(c) [Reserved].
Upon the earliest to occur of (di) Each the Revolving Maturity Date, (ii) the date of the acceleration of the Loan Document Obligations pursuant to Article VII and (iii) the date on which the outstanding principal amount of the Loans is paid in full (such earliest date, the “Exit Fee Trigger Date”), the Borrower agrees to pay to the Administrative Agent, for its own account, the fees in pro rata benefit of the amounts and at the times separately agreed upon by the Borrowers and the Administrative Agent in writing.
Fourth Amendment Consenting Lenders (e) All fees payable hereunder shall be paid based on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case respective amount of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except Commitments held by each Fourth Amendment Consenting Lender as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding Fourth Amendment Effective Date as a percentage of the applicable fee payment date.
(f) In aggregate amount of Commitments held by all Fourth Amendment Consenting Lenders as of the event that, on or prior to the date that is six months after the Fourth Amendment No. 8 Effective Date), a Borrower an exit fee (the “Exit Fee”) in an amount equal to (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.001.0% of the aggregate principal amount of the Commitments held by all Fourth Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% Consenting Lenders as of the aggregate principal amount of the Fourth Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause Date less (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% the aggregate amount paid to the Fourth Amendment Consenting Lenders on the Fourth Amendment Operative Date pursuant to Section 1.05(l) of the principal amount so prepaid, repaid, refinanced, substituted or replacedFourth Amendment. All such amounts The Exit Fee shall be fully earned on the Fourth Amendment Effective Date and shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day)Exit Fee Trigger Date. Each determination by the Administrative Agent The agreement of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest errorBorrower to pay the Exit Fee to the Fourth Amendment Consenting Lenders is a material inducement to the Fourth Amendment Consenting Lenders to enter into the Fourth Amendment.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Vacasa, Inc.), Revolving Credit Agreement (Vacasa, Inc.)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Applicable Rate on the daily amount (if any) by which the Commitment Fee Rate per annum applicable to of such Lender exceeds the Revolving Credit Commitment Exposure of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date date of this Agreement to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the first Business Day following the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments of terminate, commencing on the applicable Class terminatefirst such date to occur after the date hereof. For purposes of calculating the All commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as computed on the basis of a result year of outstanding Swingline Loans360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent Agent, for the account of each Revolving Lender of any Class (other than any Defaulting Lender) , a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurodollar Revolving Loans on the average daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and Exposure, (ii) to each Issuing Bank, for its own account, a fronting fee, in fee with respect of to each Letter of Credit issued by it in the amount agreed between such Issuing Bank for and the Borrower prior to the issuance of such Letter of Credit, on the average daily amount of the Total LC Exposure attributable to such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the date of issuance of such Letter of Credit to but excluding the expiration date of on which there ceases to be any LC Exposure attributable to such Letter of Credit and (or if terminated on an earlier dateiii) to each Issuing Bank, to the termination date of such Letter of Credit)for its own account, computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers (but in any event not to exceed 0.125% per annum) of the daily face amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orfirst Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The amount of participation and fronting fees payable hereunder shall be set forth in a written demand (accompanied invoice or other notice delivered to the Borrower by reasonable back-up documentation) thereforthe Administrative Agent or, in the case of fronting fees, by the applicable Issuing Bank.
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Marathon Petroleum Corp), Revolving Credit Agreement (Marathon Petroleum Corp)
Fees. (a) Each applicable Borrower agrees The Borrowers agree to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Applicable Rate set forth in the definition thereof under the column entitled “Commitment Fee Rate per annum applicable to the Revolving Credit Commitment of such Class Rate” on the average daily unused amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateAvailability Period. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day Business Day of each March, June, September and December for the quarterly period then ended (of each year, commencing on September 30, 2017, but in the case of second such date to occur after the payment made on September 30, 2017, for the period from the Closing Effective Date to such date) and on the date on which such Revolving Commitments terminate. All commitment fees shall be computed on the Revolving Credit Commitments basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlywith respect to Revolving Commitments, no portion a Revolving Commitment of the a Revolving Credit Commitments Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Revolving Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable Borrower agrees The Borrowers agree to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee (a “LC Participation Fee”) with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used from time to determine time in effect for purposes of determining the interest rate applicable to Adjusted Term SOFR Rate Eurocurrency Revolving Loans on the average daily face amount of such Revolving Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at the rate of each Letter 0.15% per annum on the average daily amount of Credit issued by such Issuing Bank for its LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. LC Participation fees Fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date second such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after the Borrower’s receipt of a reasonably detailed written demand statement therefor. All LC Participation Fees and fronting fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each Borrower agrees The Borrowers agree to pay to the Administrative Agent, for its own account, the agency fees payable in the amounts and at the times separately agreed upon by set forth in the Borrowers and the Administrative Agent in writingFee Letter.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation feesLC Participation Fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Horizon Lines, Inc.), Credit Agreement (Horizon Lines, Inc.)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent an unused commitment fee for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate of 0.25% per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused undrawn portion of the Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s the Lenders’ Revolving Credit Commitments terminate; it being understood that the LC Exposure of a Lender shall be included and the Swingline Exposure of a Lender shall be excluded in the drawn portion of the Revolving Commitment of such Class terminateLender for purposes of calculating the commitment fee. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day Business Day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments of terminate or are reduced, commencing on the applicable Class terminatefirst such date to occur after the Effective Date. For purposes of calculating the All commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as computed on the basis of a result year of outstanding Swingline Loans360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurodollar Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each the Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at the rate of each Letter 0.125% per annum on the daily amount of the LC Exposure attributable to Letters of Credit issued by such Issuing Bank for (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the Issuing Bank’s reasonable standard fees and customary fees commissions with respect to the issuance, amendment, cancellation, negotiation, transfer, presentment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 ten (10) days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (F45 Training Holdings Inc.), Credit Agreement (F45 Training Holdings Inc.)
Fees. (a) Each applicable Borrower agrees The Borrowers agree to pay to the Administrative Agent for the account of each Initial Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit unused Initial Commitment of such Class of such Initial Revolving Lender during the period from and including the Closing Date to the date on which such L▇▇▇▇▇Initial Revolving Lender’s Revolving Credit Initial Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day Business Day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) and on the date on which the Revolving Credit Initial Commitments of the applicable Class terminate. For purposes of calculating the commitment fees fee only, the Commitment of any Class of any Revolving Lender shall be deemed to be used to the extent of Revolving Loans of such Class of such Revolving Lender and the LC Exposure of such Revolving Lender attributable to its Revolving Credit Commitment of such Class, and no portion of the Revolving Credit Commitments Commitment of any Class shall be deemed utilized used as a result of outstanding Swingline Loans.
(b) Each applicable Subject to Section 2.21, the US Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation in each US Letter of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR LIBO Rate Revolving Loans on the daily face amount of such Lender’s US LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such US Letter of Credit (excluding any portion thereof attributable to unreimbursed LC DisbursementsDisbursements in respect of US Letters of Credit), during the period from and including the Closing Date to the later of the date on which such Revolving Lender’s Revolving Credit Initial US Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any US LC Exposure related to its Revolving Credit Commitment of such Class in respect of such US Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each Issuing Bank, for its own account, a fronting fee, in respect of each US Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such US Letter of Credit to the expiration date of such US Letter of Credit (or if terminated on an earlier date, to the termination date of such US Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers US Borrower (but in any event not to exceed 0.125% per annum) of the daily face amount of such US Letter of Credit, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any US Letter of Credit or processing of drawings thereunder. .
(c) Subject to Section 2.21, the Canadian Borrower agrees to pay (i) to the Administrative Agent for the account of each Lender a participation fee with respect to its participation in each Canadian Letter of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to CDOR Revolving Loans on the daily face amount of such Lender’s Canadian LC Exposure in respect of such Canadian Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements in respect of Canadian Letters of Credit), during the period from and including the Closing Date to the later of the date on which such Lender’s Initial Canadian Commitment terminates and the date on which such Lender ceases to have any Canadian LC Exposure in respect of such Canadian Letter of Credit and (ii) to each Issuing Bank, for its own account, a fronting fee, in respect of each Canadian Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Canadian Letter of Credit to the expiration date of such Canadian Letter of Credit (or if terminated on an earlier date, to the termination date of such Canadian Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank and the Canadian Borrower (but in any event not to exceed 0.125% per annum) of the daily face amount of such Canadian Letter of Credit, as well as such Issuing Bank’s standard fees with respect to the issuance, amendment, renewal or extension of any Canadian Letter of Credit or processing of drawings thereunder.
(d) Participation fees and fronting fees accrued to to, but excluding excluding, the last Business Day of each March, June, September and December shall be payable in arrears for the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after the last day Business Day of such calendar quarter; provided that all such fees shall be payable on the date on which the Revolving Credit Initial Commitments of the applicable Class terminate, and any such fees accruing after the date on which the Revolving Credit Initial Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph Section 2.12 shall be payable within 30 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefor.
(ce) [Reserved].
(d) Each Borrower agrees The Borrowers agree to pay to the Administrative Agent, for its own account, the fees in the amounts and at the times separately agreed upon by the Borrowers any Borrower and the Administrative Agent in writing.
(ef) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding to, but excluding, the applicable fee payment date.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any a fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Abl Credit Agreement (Hayward Holdings, Inc.), Abl Credit Agreement (Hayward Holdings, Inc.)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent in dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a the rate equal to the Commitment Fee Rate of 1.00% per annum applicable to the Revolving Credit Commitment of such Class on the average daily unused amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s the Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the third Business Day following the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlyfees, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent in dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurocurrency Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank, for its own account, Bank in dollars a fronting fee, in respect which shall accrue at the rate of each Letter 0.125% per annum on the average daily amount of the LC Exposure attributable to Letters of Credit issued by such Issuing Bank for (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarter; Effective Date, provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable an Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid hereunder shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(fe) In Notwithstanding the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transactionforegoing, the Borrower of the Amendment No. 8 Term Loans shall not be obligated to pay any amounts to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Defaulting Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transactionthis Section 2.12.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Skype S.a r.l.), Credit Agreement (Skype S.a r.l.)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Applicable Rate on the daily amount (if any) by which the Commitment Fee Rate per annum applicable to of such Lender exceeds the Revolving Credit Commitment Exposure of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the first Business Day following the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments of terminate, commencing on the applicable Class terminatefirst such date to occur after the Closing Date. For purposes of calculating the All commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as computed on the basis of a result year of outstanding Swingline Loans360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent Agent, for the account of each Revolving Lender of any Class (other than any Defaulting Lender) , a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving Loans on the average daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and Exposure, (ii) to each Issuing Bank, for its own account, a fronting fee, in fee with respect of to each Letter of Credit issued by it in the amount agreed between such Issuing Bank for and the Borrower prior to the issuance of such Letter of Credit, on the average daily amount of the Total LC Exposure attributable to such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the later of the Closing Date and the date of issuance of such Letter of Credit to but excluding the expiration date of on which there ceases to be any LC Exposure attributable to such Letter of Credit and (or if terminated on an earlier dateiii) to each Issuing Bank, to the termination date of such Letter of Credit)for its own account, computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers (but in any event not to exceed 0.125% per annum) of the daily face amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal amendment or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orfirst Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from first such date to occur after the Closing Date to such date) no later than 15 calendar days after the last day of such calendar quarterDate; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The amount of participation and fronting fees payable hereunder shall be set forth in a written demand (accompanied invoice or other notice delivered to the Borrower by reasonable back-up documentation) thereforthe Administrative Agent or, in the case of fronting fees, by the applicable Issuing Bank.
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Marathon Petroleum Corp), Revolving Credit Agreement (MPLX Lp)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily unused amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s the aggregate Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after in respect of the Revolving Commitments on the last day Business Day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlywith respect to Revolving Commitments, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurodollar Revolving Loans on the average daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each the Issuing Bank, for its own account, Bank a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed which shall accrue at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers (but in any event not to exceed 0.125% per annum) annum on the average daily amount of the daily face amount LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of such Letter the date of Credittermination of the Revolving Commitments and the date on which there ceases to be any LC Exposure, as well as such the Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding shall be payable on the last Business Day of each March, June, September and December shall be payable in arrears for of each year, commencing on the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarter; Effective Date, provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Symbion Inc/Tn), Credit Agreement (NeoSpine Surgery, LLC)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to pro rata in accordance with the Revolving Credit Commitment of such Class on each Lender) a Commitment Fee in the average daily amount of (i) at all times when the amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to the date on which such L▇▇▇▇▇’s Revolving Credit Commitments utilized by Borrower is greater than 33% of such Class terminatethe total Revolving Credit Commitments, the product of the daily average unused amount of the Revolving Credit Commitments times the applicable rate per annum set forth in the definition of Applicable Margin, and (ii) at all times when the amount of the Revolving Credit Commitments utilized by Borrower is equal to or less than 33% of the total Revolving Credit Commitments, the sum of the amount specified in the foregoing clause (i) plus an additional amount equal to the product of the daily average unused amount of the Revolving Credit Commitments times 0.25% per annum. For purposes of calculating the Commitment Fee hereunder, the Revolving Credit Commitments shall be deemed utilized by the amount of all Revolving Loan Borrowings and LC Exposure. Accrued commitment fees Commitment Fees payable under this Section shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments of terminate, commencing on the applicable Class terminatefirst such date to occur after the date hereof. For purposes of calculating the commitment fees only, no portion of the Revolving Credit Commitments All Commitment Fees shall be deemed utilized as computed on the basis of a result year of outstanding Swingline Loans360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter all outstanding Letters of Credit, which shall accrue at the rate per annum equal to the Applicable Rate used to determine Margin then in effect for Eurodollar Borrowings as set forth in the interest rate applicable to Adjusted Term SOFR Rate Revolving Loans definition of Applicable Margin on the average daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each the Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at the rate of each Letter 1/8% per annum on the average daily amount of Credit issued by such Issuing Bank for the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of the Revolving Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation feesCommitment Fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Digital Generation Systems Inc), Credit Agreement (Digital Generation Systems Inc)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to on the daily unused amount of each Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Original Closing Date to but excluding the date on which such L▇▇▇▇▇’s the Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date dates on which the Revolving Credit Commitments of the applicable Class terminate. For purposes of calculating the commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as a result of outstanding Swingline Loans.
(b) Each applicable Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation in each Letter of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving Loans commencing on the daily face amount of first such Lender’s LC Exposure attributable date to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), during the period from and including the Closing Date to the later of occur after the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers (but in any event not to exceed 0.125% per annum) of the daily face amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunderhereof. Participation fees and fronting fees accrued to but excluding the last Business Day of each March, June, September and December shall be payable in arrears for the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after the last day of such calendar quarter; provided that all such All commitment fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefor.
(c) [Reserved].
(d) Each Borrower agrees to pay to the Administrative Agent, for its own account, the fees in the amounts and at the times separately agreed upon by the Borrowers and the Administrative Agent in writing.
(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made computed on the basis of a 360-day year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). Each determination by For purposes of computing commitment fees with respect to Revolving Commitments, a Revolving Commitment of a Lender shall be deemed to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline Exposure of such Lender shall be disregarded for such purpose).
(b) The Borrower agrees to pay to the Administrative Agent for the account of each Lender with a Tranche B-1 Commitment a commitment fee, which shall accrue at 0.375% per annum on the daily unused amount of the amount Tranche B-1 Commitment of any fee hereunder such Lender during the period from and including the Restatement Effective Date to but excluding the termination of the Tranche B-1 Commitments. Accrued commitment fees shall be conclusive and binding for all purposes, absent manifest error.payable in arrears on the termination of the Tranche B-1
Appears in 2 contracts
Sources: Credit Agreement (R H Donnelley Corp), Credit Agreement (Dex Media, Inc./New)
Fees. (a) Each applicable Borrower agrees The Borrowers agree to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment Commitments of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to the date on which such L▇▇▇▇▇Lender’s Revolving Credit Commitments of such Class terminateterminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day Business Day of each MarchApril, JuneJuly, September October and December January (commencing with the last Business Day of Fiscal Quarter ended April 30, 2019) for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) and on the date on which the Revolving Credit Commitments of the applicable Class terminate. For purposes of calculating the commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as a result of outstanding Swingline Loans.
(b) Each applicable Borrower agrees Subject to Section 2.21, the Borrowers agree to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR LIBO Rate Revolving Loans (with respect to Letters of Credit issued in US Dollars) or BA Rate Revolving Loans (with respect to Letters of Credit issued in Canadian Dollars) of such Class on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), during the period from and including the Closing Date to the earlier of (A) the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit and (including any such Letter of Credit Exposure that may exist following B) the termination of such Revolving Credit Commitments) Termination Date and (ii) to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the earlier of (A) the expiration date of such Letter of Credit Credit, (or if terminated B) the date on an earlier date, to the termination date of which such Letter of Credit)Credit terminates or (C) the Termination Date, computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers Borrower Representative (but in any event not to exceed 0.125% per annum) of the daily face amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding the last Business Day of each MarchApril, JuneJuly, September October and December January shall be payable in arrears for the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after the last day Business Day of such calendar fiscal quarter; provided provided, that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefor.
(c) [Reserved].
(d) Each [Reserved]
(e) The Borrower Representative agrees to pay to the Administrative Agent, for its own account, the fees in the amounts and at the times separately agreed upon by the Borrowers Initial Borrower and the Administrative Agent in writingwriting (including, without limitation, the First Lien Agency Fee under and as defined in the Fee Letter).
(ef) All fees payable hereunder shall be paid on the dates due, (i) in the case of the fees contemplated in Sections 2.12(a) and (e), in US Dollars and (ii) in the case of the fees contemplated in Section 2.12(b), the currency in which the applicable Letter of Credit is issued in and, in each case, in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to itany Issuing Bank) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances circumstances, except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(fg) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective 4 Closing Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transactionoccurs, the Borrower of the Amendment No. 8 Term Loans Borrowers shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Initial Term Loan Lenders, (I) in the case of clause clauses (x)a) and (c) of the definition of “Repricing Transaction”, a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Initial Term Loans so prepaid, repaid, refinanced, substituted or replaced (including pursuant to Section 2.19(b)(iv)) and (II) in the case of clause (y)b) of the definition of “Repricing Transaction”, a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Initial Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(gh) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Incremental Amendment to Credit Agreement (Knowlton Development Corp Inc), Incremental Amendment to Credit Agreement (Knowlton Development Parent, Inc.)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment of such Class Loan Applicable Rate on the average daily unused amount of the Unused each Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Original Closing Date to but excluding the date on which such L▇▇▇▇▇’s the aggregate Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after in respect of the Revolving Commitments, on the last day Business Day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the Original Closing Date. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlywith respect to Revolving Commitments, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Revolving Loan Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurodollar Revolving Loans (minus 0.125% per annum) on the average daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Original Closing Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each the Issuing Bank, for its own account, Bank a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed which shall accrue at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers (but in any event not to exceed 0.125% per annum) annum on the average daily amount of the daily face amount LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Original Closing Date to but excluding the later of such Letter the date of Credittermination of the Revolving Commitments and the date on which there ceases to be any LC Exposure, as well as such the Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding shall be payable on the last Business Day of each March, June, September and December shall be payable in arrears for of each year, commencing on the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarter; Original Closing Date, provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately immediately, available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (AGA Medical Holdings, Inc.), Credit Agreement (AGA Medical Holdings, Inc.)
Fees. (a) Each applicable Borrower The Company agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment facility fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment Commitments of such Class of such Revolving Lender (whether used or unused) during the period from and including the Closing Date date hereof to but excluding the date on which the last of such Commitments terminates; PROVIDED that, if such Lender continues to have any Exposure of any Class after its Commitment of such Class terminates, then such facility fee shall continue to accrue on the daily amount of such Lender's Exposure of such Class to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of Lender ceases to have any such Class terminateExposure. Accrued commitment facility fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (of each year, commencing on September 30the first such date to occur after the date hereof, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) and on the date on which all the Revolving Credit Commitments shall have terminated and the Lenders shall have no further Exposures. All facility fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the commitment computing facility fees onlywith respect to US Tranche Commitments, no portion a US Tranche Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Swingline LoansUS Tranche Revolving Loans and the LC Exposure of such Lender.
(b) Each applicable Borrower The Company agrees to pay (i) to the Administrative Agent for the account of each Revolving US Tranche Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate US Tranche Eurocurrency Revolving Loans on the daily face amount of such US Tranche Lender’s 's LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Date date hereof to but excluding the later of the date on which such Revolving US Tranche Lender’s Revolving Credit 's US Tranche Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each the Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at the rate of each Letter .0625% per annum on the average daily amount of Credit issued by such Issuing Bank for the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the date hereof to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank US Tranche Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the Issuing Bank’s reasonable and customary 's standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding under this paragraph through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on such last day, commencing on the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterdate hereof; provided PROVIDED that all such fees shall be payable on the date on which the Revolving Credit US Tranche Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit US Tranche Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees payable under this paragraph shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each Borrower The Company agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Company and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation facility fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Quarterly Report, Five Year Credit Agreement (Edwards Lifesciences Corp)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to on the daily unused amount of the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Original Restatement Effective Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the Original Restatement Effective Date. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlypursuant to this Section 2.12(a), no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used as in effect from time to determine the time for interest rate applicable to Adjusted Term SOFR Rate on Eurodollar Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Original Restatement Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at the rate of each Letter 0.25% per annum on the daily outstanding amount of such Issuing Bank’s Letters of Credit issued by such Issuing Bank for during the period from and including the Original Restatement Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterOriginal Restatement Effective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent and the Collateral Agent, for its their own accountaccounts, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingor the Collateral Agent, as the case may be.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable relevant Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(fe) In the event that, on or prior The fees to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces be paid in respect of Other Revolving Commitments and any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance Letters of doubt, any prepayment made Credit issued pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans Other Revolving Commitments shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) be as set forth in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Refinancing Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing TransactionLoan Modification Agreement relating thereto.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Rite Aid Corp), Credit Agreement (Rite Aid Corp)
Fees. (a) Each applicable Borrower agrees to pay As consideration for its services under this Agreement, Fidelity shall ---- be entitled to the Administrative Agent fees in accordance with Articles I, II, III, IV and any Appendices and Addenda. A reasonable additional fee will be charged if Fidelity has to reprocess any contribution data transmission due to excessive errors of the Employer or payroll vendor. Fidelity shall charge $100 per hour for expenses incurred for creation of an electronic file related to the account termination of this Agreement. In addition, Fidelity reserves the right to charge a termination fee in an amount equal to a full year of fees identified under this Agreement in the event the Employer terminates its relationship with Fidelity within one year after the Implementation Date. The Start-up and Conversion Plan Fees in Article I will be billed with the initial invoice generated by Fidelity. The annual base fees in Article II will become effective as of the date the Fidelity Retirement Benefits Line becomes available to Participants or the Employer. All Fidelity fees in Articles II, III and IV will be billed in arrears to the Employer, or Participants, as applicable, on a quarterly basis. Quarterly basis for purposes of billing is defined as February 28, May 31, August 31, and November 30 of each Revolving Lender of any Class (other than any Defaulting Lender) calendar year. An Employee is treated as a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount Participant for purposes of the Unused Revolving Credit Commitment annual per- Participant fee if he/she has an account balance on any day of such Class the quarter or any previous quarter in the twelve-month annual billing cycle. In addition, a Participant receiving a lump sum distribution will be considered a Participant through the end of such Revolving Lender during the period from and including quarterly billing cycle that includes the Closing Date to month of December. The trustee fee in Article III will become effective as of the date on which such L▇▇▇▇▇’s Revolving Credit Commitments Implementation Date. If payment of such Class terminate. Accrued commitment the aforementioned fees is not received by Fidelity within sixty days of receipt of Fidelity's invoice, the fees shall be payable paid from available Plan forfeitures and shall then be charged against the respective accounts of all Participants in arrears no later than 15 calendar days such reasonable manner as the Trustee may determine. Fidelity will charge a separate Conversion Plan Fee under Article I if the Employer acquires another Company and merges the acquired Company's Plan with its Plan or receives additional assets for its Plan. The Conversion Plan Fee will be determined after the last day of each March, June, September relevant information has been received by Fidelity and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) and on the date on which the Revolving Credit Commitments of the applicable Class terminate. For purposes of calculating the commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as a result of outstanding Swingline Loans.
(b) Each applicable Borrower agrees to pay (i) communicated to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation in each Letter of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), during the period from and including the Closing Date to the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers (but in any event not to exceed 0.125% per annum) of the daily face amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding the last Business Day of each March, June, September and December shall be payable in arrears for the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after the last day of such calendar quarter; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefor.
(c) [Reserved].
(d) Each Borrower agrees to pay to the Administrative Agent, for its own account, the fees in the amounts and at the times separately agreed upon by the Borrowers and the Administrative Agent in writing.
(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or Employer prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transactionconversion.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Retirement Plan Service Agreement, Service Agreement (Peets Coffee & Tea Inc)
Fees. (ai) Each applicable The U.S. Borrower agrees to pay to the Administrative Agent for the account each Lender in respect of each a Tranche of Revolving Lender of any Class Loans (other than any Defaulting Lender) a commitment fee), which shall accrue at a rate equal to through the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days Administrative Agent, three Business Days after the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) and on the date on which the Revolving Credit Commitments of the applicable Class terminate. For purposes of calculating the commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as a result of outstanding Swingline Loans.
(b) Each applicable Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation in each Letter of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), during the period from and including the Closing Date to the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers (but in any event not to exceed 0.125% per annum) of the daily face amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding the last Business Day of each March, June, September and December shall be payable in arrears for the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after the last day of such calendar quarter; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminateyear, and any such fees accruing three Business Days after the date on which the Revolving Credit Facility Commitments of all the applicable Class terminate Lenders in respect of such Tranche shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after receipt of terminated as provided herein, a written demand commitment fee (accompanied by reasonable back-up documentationa “Commitment Fee”) therefor.
(c) [Reserved].
(d) Each Borrower agrees to pay to the Administrative Agent, for its own account, the fees in the amounts and at the times separately agreed upon by the Borrowers and the Administrative Agent in writing.
(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal daily amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted Available Unused Commitment of such Lender attributable to such Tranche during the preceding quarter (or replaced and (IIother period ending with the date on which the last of the Commitments of such Lender in respect of such Tranche shall be terminated) in the case of clause (y), at a fee rate equal to 1.000.50% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replacedper annum. All such amounts Commitment Fees shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made computed on the basis of the actual number of days elapsed in a 360-day year of 360 days. For the purpose of calculating any Lender’s Commitment Fee, the outstanding Swingline Loans during the period for which such Lender’s Commitment Fee is calculated shall be deemed to be zero. The Commitment Fee due to each Lender in respect of any Tranche of Revolving Loans shall commence to accrue on the Closing Date and shall cease to accrue on the date on which the last of the Commitments of such Lender in respect of such Tranche shall be payable terminated as provided herein. For purposes of computing the average daily amount of any Revolving L/C Exposure for any period under this Section 2.13(a)(i) and under Section 2.13(b), the average daily amount of Alternative Currency Revolving L/C Exposure for such period shall be calculated by multiplying (i) the average daily balance of each Alternative Currency Letter of Credit (expressed in the currency in which such Alternative Currency Letter of Credit is denominated) by (ii) the Exchange Rate for the actual days elapsed (including the first day but excluding Alternative Currency in which such Letter of Credit is denominated in effect on the last day). Each determination Business Day of such period or by such other reasonable method that the Administrative Agent deems appropriate. Any Commitment Fee paid in respect of the amount of any fee hereunder Canadian Tranche (i) shall be conclusive paid to each Canadian Tranche Lender’s Canadian Lending Office to the extent paid by the Canadian Borrower and binding for all purposes, absent manifest error(ii) shall be paid to each Canadian Tranche Lender’s U.S. Lending Office to the extent paid by the U.S. Borrower.
Appears in 2 contracts
Sources: Credit Agreement (Hexion Specialty Chemicals, Inc.), Credit Agreement (Hexion Specialty Chemicals, Inc.)
Fees. (a) Each applicable Borrower The Company agrees to pay to the Administrative Agent, for the account of each US Tranche Lender, a commitment fee which shall accrue at the Applicable Rate on the daily unused portion of the US Tranche Revolving Commitment of such US Tranche Lender during the period from and including the Effective Date to but excluding the date on which such US Tranche Revolving Commitment terminates. The European Borrowers agree to pay to the European Agent for the account of each Revolving European Tranche Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to on the Revolving Credit daily unused portion of the European Tranche Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving European Tranche Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments European Tranche Commitment terminates. The Company shall pay any commitment fee described hereunder that is not paid by any other Borrower when due. Any payment required to be made pursuant to this paragraph (a) by the Company to the European Agent shall be made to the Administrative Agent, as a sub-agent for the European Agent, as applicable, in New York, New York for the account of such Class terminatethe applicable Lenders. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the third Business Day following the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments of terminate, commencing on the applicable Class terminate. For purposes of calculating first such date to occur after the commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as a result of outstanding Swingline Loansdate hereof.
(b) Each applicable Borrower The Company agrees to pay (i) to the Administrative Agent for the account of each Revolving US Tranche Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurocurrency Revolving Loans on the average daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements)) during the period from and including the Effective Date to but excluding the later of the date on which such Lender’s US Tranche Revolving Commitment terminates and the date on which such Lender ceases to have any LC Exposure, and (ii) to the Issuing Bank a fronting fee, which fee shall accrue at the rate of 0.125% per annum on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) with respect to Letters of Credit issued by the Issuing Bank, during the period from and including the Closing Effective Date to but excluding the later of the date on which such of termination of the US Tranche Revolving Lender’s Revolving Credit Commitment of such Class terminates Commitments and the date on which such Revolving Lender there ceases to have be any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers (but in any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditExposure, as well as such the Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the US Tranche Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the US Tranche Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt of a written demand (accompanied by reasonable back-up documentation) documentation therefor). All participation fees and fronting fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(c) [Reserved].
(d) Each Borrower The Company agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Company and the Administrative Agent Agent. The Company and the Borrowers jointly and severally agree to pay to the European Agent, for its own account, fees payable in writingthe amounts and at the times separately agreed upon between the Company and the European Agent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Applicable Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Insight Enterprises Inc), Credit Agreement (Insight Enterprises Inc)
Fees. (a) Each applicable Subject to Section 2.24(a)(iii)(A), the Borrower agrees to pay to the Administrative Agent in dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate fee equal to the Commitment Applicable Fee Rate per annum applicable to times the average daily unused amount of the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to but excluding the date on which such L▇▇▇▇▇’s the Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day Business Day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the Closing Date. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlyfees, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Swingline LoansRevolving Loans and LC Exposure of such Lender.
(b) Each applicable Subject to Sections 2.24(a)(iii)(B) and (C), the Borrower agrees to pay (i) to the Administrative Agent in dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurocurrency Revolving Loans on the average daily face maximum amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Date to and including the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank, for its own account, Bank in dollars a fronting fee, in respect which shall accrue at the rate equal to 0.25% per annum (or such lower rate as agreed between the Borrower and the relevant Issuing Bank) on the average daily maximum amount of each Letter the LC Exposure attributable to Letters of Credit issued by such Issuing Bank for (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Closing Date to and including the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding shall be payable in arrears on the last Business Day of each March, June, September and December shall be payable in arrears for of each year, commencing on the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from first such date to occur after the Closing Date to such date) no later than 15 calendar days after the last day of such calendar quarterDate; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 15 days after receipt demand (or such later date as such Issuing Bank may agree). All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writing.
(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided including those set forth in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date).
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Virtus Investment Partners, Inc.), Credit Agreement (Virtus Investment Partners, Inc.)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to on the daily unused amount of the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Restatement Effective Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the Restatement Effective Date. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlypursuant to this Section 2.12(a), no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used as in effect from time to determine the time for interest rate applicable to Adjusted Term SOFR Rate on Eurodollar Revolving Loans on the daily face amount of such Lender’s 's LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Restatement Effective Date to but excluding the later of the date on which such Lender's Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at the rate of each Letter 0.25% per annum on the daily outstanding amount of such Issuing Bank's Letters of Credit issued by such Issuing Bank for during the period from and including the Restatement Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary 's standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterRestatement Effective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative AgentAgent and the Collateral Agents, for its their own accountaccounts, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingor the Collateral Agents, as the case may be.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable relevant Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Rite Aid Corp), Credit Agreement (Rite Aid Corp)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent in dollars for the account of each Revolving Lender a commitment fee, which shall accrue at the rate of 0.50% per annum (or 0.25% per annum if the Secured Leverage Ratio is less than or equal to 1.25 to 1.00 for the most recently ended fiscal quarter of the Borrower for which the consolidated financial statements have been delivered pursuant to Section 5.01(a) or Section 5.01(b) or Section 6.1(a) or Section 6.1(b) of the Original Credit Agreement) on the actual daily unused amount of the Revolving Commitment of such Lender during the period from and including the Effective Date to but excluding the date on which the Revolving Commitments terminate. Accrued commitment fees through and including the last day of each calendar quarter shall be payable in arrears on the first Business Day of the subsequent calendar quarter and on the date on which the Revolving Commitments terminate, commencing on July 1, 2019. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). For purposes of computing commitment fees, a Revolving Commitment of a Lender shall be deemed to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender.
(b) The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) and on the date on which the Revolving Credit Commitments of the applicable Class terminate. For purposes of calculating the commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as a result of outstanding Swingline Loans.
(b) Each applicable Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate Rate, in each case, used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurocurrency Revolving Loans on the daily face amount of such Revolving Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related Exposure. In addition, the Borrower agrees to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) pay to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank to the Borrower for the period from the date of issuance of such Letter of Credit to through the expiration date of such Letter of Credit (or if terminated on an earlier date, date to the termination date of such Letter of Credit), computed at a rate equal to 0.125% per annum or such other percentage per annum to be agreed upon between the rate agreed by Borrower and such Issuing Bank and the applicable Borrowers (but in any event not to exceed 0.125% per annum) of the daily face outstanding amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding the last Business Day of each March, June, September through and December shall be payable in arrears for the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after including the last day of such each calendar quarter shall be payable on the first Business Day of the subsequent quarter, commencing on July 1, 2019; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demanddemand until the expiration or cancellation of all outstanding Letters of Credit. Any other All participation fees payable to any Issuing Bank pursuant to this paragraph and fronting fees shall be computed on the basis of a year of 360 days and shall be payable within 30 for the actual number of days after receipt of a written demand (accompanied by reasonable back-up documentation) thereforelapsed.
(c) [Reserved].
(d) Each Borrower agrees to pay to the Administrative Agent, for its own account, the fees in the amounts and at the times separately agreed upon by the Borrowers and the Administrative Agent in writing.
(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable an Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid hereunder shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(fd) In the event that, on or prior The Borrower agrees to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lendersits own account, (I) an agency fee payable in the case of clause amount and at the times separately agreed upon between the Borrower and the Administrative Agent.
(x)e) Notwithstanding the foregoing, a premium of 1.00% of and subject to Section 2.22, the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal Borrower shall not be obligated to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior pay any amounts to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Defaulting Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All this Section 2.12; provided that such amounts shall be due and payable on to any non-Defaulting Lender which assumes the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis obligations of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last dayDefaulting Lender pursuant to Section 2.22(a)(iv). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Sources: Credit Agreement (Amc Entertainment Holdings, Inc.), Credit Agreement (Amc Entertainment Holdings, Inc.)
Fees. (a) Each applicable The Cayman Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment of such Class Applicable Margin on the average daily unused amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlyfees, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Cayman Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the Margin as interest rate applicable to Adjusted Term SOFR Rate on Eurodollar Revolving Loans on the average daily face amount of such Lender’s 's LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Lender's Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each the Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at per annum rate, separately agreed upon between the Cayman Borrower and the Issuing Bank, on the average daily amount of each Letter of Credit issued by such Issuing Bank for the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the Issuing Bank’s reasonable and customary 's standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarter; Effective Date, provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied including the first day but excluding the last day). For the purposes of calculating the average daily amount of the LC Exposure for any period under this Section 2.12(b), the average daily amount of the Alternative Currency LC Exposure for such period shall be calculated by multiplying (x) the average daily balance of each Alternative Currency Letter of Credit (expressed in the currency in which such Alternative Currency Letter of Credit is denominated) by (y) the Exchange Rate for each such Alternative Currency in effect on the last Business Day of such period or by such other reasonable back-up documentation) thereformethod that the Administrative Agent deems appropriate.
(c) [Reserved].
(d) Each The Cayman Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Cayman Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available fundsfunds in dollars, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Credit Agreement (Seagate Technology Malaysia Holding Co Cayman Islands)
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue accruing at a the rate equal to the Commitment Fee Rate of 0.75% per annum applicable to on the daily unused amount of the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date date hereof to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after in the case of commitment fees in respect of the Revolving Commitments, on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments of terminate, commencing on the applicable Class terminatefirst such date to occur after the date hereof. For purposes of calculating the All commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as computed on the basis of a result year of outstanding Swingline Loans360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent Agent, for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving Loans of 4.00% per annum on the average daily face amount of such Lender’s 's LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Restatement Effective Date to but excluding the later of the date on which such Lender's Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at the rate or rates per annum separately agreed upon between the Borrower and the applicable Issuing Bank (on the date hereof or any later date on which such Issuing Bank shall have become an Issuing Bank), on the average daily amount of each Letter the LC Exposure attributable to Letters of Credit issued by such Issuing Bank for (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Restatement Effective Date to but excluding the later of the date of issuance termination of such Letter the Revolving Commitments and the date on which there ceases to be any LC Exposure attributable to Letters of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed issued by such Issuing Bank and the applicable Borrowers (but in any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditBank, as well as such Issuing Bank’s reasonable and customary 's standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterRestatement Effective Date; provided that all such accrued fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank Banks pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent.
(d) On each date on which (i) Revolving Commitments are terminated or reduced, (ii) Term Loans are repaid or prepaid (whether on a voluntary or mandatory basis), (iii) the Revolving Availability Period is extended or (iv) the Maturity Date is extended, the Borrower agrees to pay to the Administrative Agent in writingfor the account of each Lender holding a Revolving Commitment or Term Loan, as applicable, on such date a fee equal to 2.00% or, at any time on or after April 1, 2004, 1.00% of the amount of such Lender's Revolving Commitments or Term Loans subject to such termination, reduction, repayment, prepayment or extension.
(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing BankBanks, in the case of fees payable to itthem) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Term Loan and Revolving Credit Agreement (Goodyear Tire & Rubber Co /Oh/)
Fees. (a) Each applicable The Borrower shall pay to the Administrative Agent for its own account fees in the amounts and at the times previously agreed upon in writing by the Borrower and the Administrative Agent including, without limitation, the fees set forth in the Fee Letter.
(b) The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate Applicable Percentage per annum applicable to the Revolving Credit Commitment of such Class (determined daily in accordance with Schedule I) on the average daily amount of the Unused unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) and on the date on which the Revolving Credit Commitments of the applicable Class terminateAvailability Period. For purposes of calculating the computing commitment fees only, no portion of with respect to the Revolving Credit Commitments Commitments, the Revolving Commitment of each Lender shall be deemed utilized as a result used to the extent of the outstanding Revolving Loans and LC Exposure, but not Swingline LoansExposure, of such Lender.
(bc) Each applicable The Borrower agrees to pay (i) to the Administrative Agent Agent, for the account of each Revolving Lender Lender, a letter of any Class (other than any Defaulting Lender) a participation credit fee with respect to its participation in each Letter of Credit, which shall accrue at a rate per annum equal to the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving Margin for Eurodollar Loans then in effect on the average daily face amount of such Lender’s LC Exposure attributable to its Revolving such Letter of Credit Commitment during the period from and including the date of such Class in respect issuance of such Letter of Credit to but excluding the date on which such Letter of Credit expires or is drawn in full (including without limitation any LC Exposure that remains outstanding after the Revolving Commitment Termination Date) and (ii) the Issuing Bank for its own account a fronting fee, which shall accrue at the rate set forth in the Fee Letter on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Date to the later of Availability Period (or until the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of that such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each Issuing Bankis irrevocably cancelled, for its own account, a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Creditwhichever is later), computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers (but in any event not to exceed 0.125% per annum) of the daily face amount of such Letter of Credit, as well as such the Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation Notwithstanding the foregoing, if the Required Lenders elect to increase the interest rate on the Loans to the Default Interest pursuant to Section 2.13(c), the rate per annum used to calculate the letter of credit fee set forth pursuant to clause (i) above shall automatically be increased by 200 basis points.
(d) The Borrower shall pay on the Closing Date to the Administrative Agent, Joint Lead Arrangers and their affiliates all fees previously agreed upon in writing with the Borrower that are due and fronting payable on the Closing Date. The Borrower shall pay on the Closing Date to the Lenders all upfront fees accrued to but excluding previously agreed in writing.
(e) Accrued fees under paragraphs (b) and (c) above shall be payable quarterly in arrears on the last Business Day day of each March, June, September and December shall be payable in arrears for the quarterly period then ended (orDecember, in the case of the payment made commencing on September 30, 20172010 and on the Revolving Commitment Termination Date (and if later, for the period from date the Closing Date to such date) no later than 15 calendar days after the last day of such calendar quarterLoans and LC Exposure shall be repaid in their entirety); provided further, that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate Commitment Termination Date shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefor.
(c) [Reserved].
(d) Each Borrower agrees to pay to the Administrative Agent, for its own account, the fees in the amounts and at the times separately agreed upon by the Borrowers and the Administrative Agent in writing.
(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or prior Anything herein to the date contrary notwithstanding, during such period as a Lender is a Defaulting Lender, such Defaulting Lender will not be entitled to commitment fees accruing with respect to its Revolving Commitment during such period pursuant to Section 2.14(b) or letter of credit fees accruing during such period pursuant to Section 2.14(c) (without prejudice to the rights of the Lenders other than Defaulting Lenders in respect of such fees), provided that (a) to the extent that a portion of the LC Exposure of such Defaulting Lender is six months after reallocated to the Amendment No. 8 Effective DateNon-Defaulting Lenders pursuant to Section 2.26, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, such fees that would have accrued for the avoidance benefit of doubtsuch Defaulting Lender will instead accrue for the benefit of and be payable to such Non-Defaulting Lenders, any prepayment made pursuant to Section 2.11(b)(iiipro rata in accordance with their respective Revolving Commitments and (b) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or extent any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection withsuch LC Exposure cannot be so reallocated, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement fees will be made at 101% instead accrue for the benefit of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for to the actual days elapsed Issuing Bank. The pro rata payment provisions of Section 2.21 shall automatically be deemed adjusted to reflect the provisions of this subsection (including the first day but excluding the last dayf). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Revolving Credit and Term Loan Agreement (Catalyst Health Solutions, Inc.)
Fees. (a) Each applicable The Borrower agrees to shall pay to the Administrative Agent for its own account fees in the account amounts and at the times previously agreed upon in writing by the Borrower and the Administrative Agent.
(b) The Borrower agrees to pay in Dollars to the Administrative Agent for the ratable benefit of each Revolving Lender of any Class (other than any Defaulting Lender) the Lenders a commitment fee, which shall accrue at a rate equal to the Applicable Commitment Fee Rate Percentage per annum applicable to the Revolving Credit Commitment of such Class (determined daily in accordance with Schedule I) on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case Dollar Equivalent of the payment made on September 30, 2017, for the period from the Closing Date to such date) and on the date on which the unused Revolving Credit Commitments of the applicable Class terminateLenders during the Availability Period. For purposes of calculating the computing commitment fees only, no portion of with respect to the Revolving Credit Commitments Commitments, the Revolving Commitment of each Lender shall be deemed utilized as a result used to the extent of the outstanding Revolving Loans and LC Exposure, but not Swingline LoansExposure, of such Lender.
(bc) Each applicable The Borrower agrees to pay in Dollars (i) to the Administrative Agent Agent, for the account of each Revolving Lender Lender, a letter of any Class (other than any Defaulting Lender) a participation credit fee with respect to its participation in each Letter of Credit, which shall accrue at a rate per annum equal to the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving Margin for Eurodollar Loans then in effect on the average daily face amount of such Lender’s LC Exposure attributable to its Revolving such Letter of Credit Commitment during the period from and including the date of such Class in respect issuance of such Letter of Credit to but excluding the date on which such Letter of Credit expires or is drawn in full (including without limitation any LC Exposure that remains outstanding after the Revolving Commitment Termination Date) and (ii) to the Issuing Bank for its own account a fronting fee, which shall accrue at the rate of 0.125% per annum on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Date to the later of Availability Period (or until the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of that such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each Issuing Bankis irrevocably cancelled, for its own account, a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Creditwhichever is later), computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers (but in any event not to exceed 0.125% per annum) of the daily face amount of such Letter of Credit, as well as such the Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding For any Letter of Credit issued in Euros, the last Business Day of each March, June, September and December shall be payable in arrears for the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after the last day of such calendar quarter; provided that all such fees shall be converted into Dollars using the applicable Exchange Rate in effect two (2) Business Days before the issuance date thereof and thereafter five (5) Business Days before any fee with respect thereto shall be due and payable hereunder. Notwithstanding the foregoing, if the Required Lenders elect to increase the interest rate on the date on which Loans to the Revolving Credit Commitments of the applicable Class terminate, and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank Default Interest pursuant to this paragraph Section 2.12(c), the rate per annum used to calculate the letter of credit fee pursuant to clause (i) above shall automatically be payable within 30 days after receipt of a written demand (accompanied increased by reasonable back-up documentation) therefor.
(c) [Reserved]an additional 2% per annum.
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees in the amounts and at the times separately agreed upon by the Borrowers and the Administrative Agent in writing.
(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account benefit of each of Lender, the applicable Amendment No. 8 Term Lendersupfront fees previously agreed upon by the Borrower and the Administrative Agent, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts which shall be due and payable on the date of effectiveness of such Repricing TransactionClosing Date.
(ge) Unless otherwise indicated herein, all computations of Accrued fees shall be made on the basis of a 360-day year under paragraphs (b) and (c) above shall be payable quarterly in arrears on the last day of each January, April, July and October, commencing on January 31, 2012 and on the Revolving Commitment Termination Date (and if later, the date the Loans and LC Exposure shall be repaid in their entirety); provided further, that any such fees accruing after the Revolving Commitment Termination Date shall be payable on demand.
(f) Anything herein to the contrary notwithstanding, during such period as a Lender is a Defaulting Lender, such Defaulting Lender will not be entitled to commitment fees accruing with respect to its Revolving Commitment during such period pursuant to subsection (b) of this Section or letter of credit fees accruing during such period pursuant to subsection (c) of this Section (without prejudice to the rights of the Lenders other than Defaulting Lenders in respect of such fees), provided that (x) to the extent that a portion of the LC Exposure of such Defaulting Lender is reallocated to the Non-Defaulting Lenders pursuant to Section 2.26, such fees that would have accrued for the actual days elapsed benefit of such Defaulting Lender will instead accrue for the benefit of and be payable to such Non-Defaulting Lenders, pro rata in accordance with their respective Revolving Commitments, and (including y) to the first day but excluding extent any portion of such LC Exposure cannot be so reallocated, such fees will instead accrue for the last day)benefit of and be payable to the Issuing Bank. Each determination by The pro rata payment provisions of Section 2.21 shall automatically be deemed adjusted to reflect the Administrative Agent provisions of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest errorthis subsection.
Appears in 1 contract
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily unused amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date date this Agreement becomes effective under Section 9.06 to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last business day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments of terminate, commencing on the applicable Class terminatefirst such date to occur after the date hereof. For purposes of calculating the All commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as computed on the basis of a result year of outstanding Swingline Loans360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Tranche A Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Tranche A Letters of Credit, which participation fee shall accrue at the Applicable Rate used to determine the compute interest rate applicable to Adjusted Term SOFR Rate on Eurodollar Revolving Loans Loans, on the average daily face amount of such Tranche A Lender’s 's Tranche A LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed Tranche A LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Tranche A Lender’s Revolving Credit 's Tranche A LC Commitment of such Class terminates and the date on which such Revolving Tranche A Lender ceases to have any Tranche A LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at the rate of each Letter 0.250% per annum on the average daily aggregate face amount of the outstanding Tranche A Letters of Credit issued by of such Issuing Bank for during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Tranche A LC Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditTranche A LC Exposure, as well as such Issuing Bank’s reasonable and customary 's standard fees with respect to the issuance, amendment, renewal or extension of any Tranche A Letter of Credit or processing of drawings thereunder. Participation Accrued participation fees and fronting fees accrued to but excluding in respect of Tranche A Letters of Credit shall be due and payable on the last Business Day day of each March, June, September and December shall be payable in arrears for of each year, commencing on the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided PROVIDED that all such fees shall be payable on the date on which the Revolving Credit Tranche A LC Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Tranche A LC Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved]The Borrower agrees to pay (i) to the Administrative Agent for the account of each Tranche B Lender a participation fee with respect to its participations in Tranche B Letters of Credit, which such participation fee shall accrue at the rate of 5.50% per annum, on the average daily amount of such Tranche B Lender's Tranche B LC Exposure (excluding any portion thereof attributable to unreimbursed Tranche B LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date on which such Lender's Tranche B Credit-Linked Deposit is returned to it and the date on which such Tranche B Lender ceases to have any Tranche B LC Exposure, and (ii) to each Issuing Bank a fronting fee, which shall accrue at the rate of 0.250% per annum on the average daily aggregate face amount of the outstanding Tranche B Letters of Credit of such Issuing Bank during the period from and including the Effective Date to but excluding the later of the date on which the Tranche B Credit-Linked Deposits are returned to the Tranche B Lenders and the date on which there ceases to be any Tranche B LC Exposure, as well as such Issuing Bank's standard fees with respect to the issuance, amendment, renewal or extension of any Tranche B Letter of Credit or processing of drawings thereunder. Accrued participation fees and fronting fees in respect of Tranche B Letters of Credit shall be due and payable on the last day of March, June, September and December of each year, commencing on the first such date to occur after the Effective Date; PROVIDED that all such fees shall be payable on the date on which the Tranche B Credit- Linked Deposits are returned to the Tranche B Lenders and any such fees accruing after the date on which the Tranche B Credit-Linked Deposits are returned to the Tranche B Lenders shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 10 days after demand. All participation fees and fronting fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(d) Each The Borrower agrees to pay to the Administrative Agent, the Documentation Agent and the Co-Syndication Agents, each for its own account, the fees payable in the amounts and at the times separately agreed upon by the Borrowers Borrower and the Administrative Agent in writingsuch Persons.
(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to itany Issuing Bank) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate of 0.50% per annum applicable to the Revolving Credit Commitment of such Class on the average daily unused amount of the Unused each Revolving Credit Commitment of such Class of such Revolving Lender for each day during the period from and including the Closing Date date hereof to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the any Revolving Credit Commitments of such Lender shall expire or terminate, commencing on the applicable Class terminatefirst such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlypayable hereunder, no portion of the Revolving Credit Commitments Commitment of each Lender shall be deemed utilized as a result to be used only to the extent of the outstanding Swingline Revolving Loans and LC Exposure (but not the outstanding Swing Line Loans) of such Lender.
(b) Each applicable Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation in each Letter of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), during the period from and including the Closing Date to the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers (but in any event not to exceed 0.125% per annum) of the daily face amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding the last Business Day of each March, June, September and December shall be payable in arrears for the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after the last day of such calendar quarter; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefor.
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ec) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, Bank in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided circumstances.
(d) The Borrower agrees to pay (i) to the Administrative Agent for the account of each Lender a participation fee with respect to its participations in the Fee Letter. Fees payable hereunder Letters of Credit, which shall accrue at the same Applicable Margin as interest on Eurodollar Loans on the average daily amount of such Lender's LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the date hereof to but excluding the later of the date on which such Lender's Commitment terminates and the date on which such Lender ceases to have any LC Exposure and (ii) to the Issuing Bank a fronting fee, which shall accrue at the rate or rates separately agreed upon between the Borrower and the Issuing Bank on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the date hereof to but excluding the later of the date of termination of the Revolving Commitments and the date on which there ceases to be any LC Exposure, as well as the Issuing Bank's customary fees with respect to the administration, issuance, negotiation, payment, amendment, renewal or extension of any Letter of Credit or any processing of drawings thereunder. Participation fees and fronting fees accrued through and including the last day of March, June, September and December of each year shall be payable on the month immediately preceding third Business Day following such last day, commencing on the applicable fee payment date.
(f) In the event that, on or prior first such date to occur after the date hereof; provided that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of all such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts fees shall be due and payable on the date of effectiveness of on which the Revolving Commitments terminate and any such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees accruing after the date on which the Revolving Commitments terminate shall be payable on demand. Any other fees payable to the Issuing Bank pursuant to this paragraph shall be payable within ten days after written demand. All participation fees and fronting fees shall be made computed on the basis of a 360-day year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Fees. (a) Each applicable Borrower agrees The Borrowers agree to pay to the Administrative Agent a commitment fee for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit undrawn portion of the Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which the Lenders’ Commitments terminate; provided that, if such Lender continues to have any Revolving Exposure (excluding Revolving Loans) after its Commitment terminates, then such commitment fee shall continue to accrue on the daily amount of such Lender’s Revolving Exposure from and including the date on which its Commitment terminates to but excluding the date on which such L▇▇▇▇▇’s Lender ceases to have any Revolving Credit Commitments Exposure; it being understood that the LC Exposure of a Lender shall be included and the Swingline Exposure of a Lender shall be excluded in the drawn portion of the Commitment of such Class terminateLender for purposes of calculating the commitment fee. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments of terminate, commencing on the applicable Class terminatefirst such date to occur after the date hereof. For purposes of calculating the All commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as computed on the basis of a result year of outstanding Swingline Loans.360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). Credit Agreement (Orthofix), Page 40
(b) Each applicable Borrower agrees The Borrowers agree to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurocurrency Revolving Loans on the average daily face amount Dollar Amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each the Issuing Bank, for its own account, Banks a fronting fee, in respect which shall accrue at the rate of each Letter 0.125% per annum on the average daily Dollar Amount of the LC Exposure attributable to Letters of Credit issued by such Issuing Bank for (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank aggregate Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such each Issuing Bank’s reasonable standard fees and customary fees commissions with respect to the issuance, amendment, cancellation, negotiation, transfer, presentment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit aggregate Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit aggregate Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank Banks pursuant to this paragraph shall be payable within 30 ten (10) days after receipt written demand therefor. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each Borrower agrees The Borrowers agree to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available fundsfunds in Dollars, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Fees. (a) Each applicable The Lead Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the relevant percentage set forth in the row entitled “Commitment Fee” in the definition of “Applicable Rate” on the daily amount by which the Commitment Fee Rate per annum applicable to of such Lender exceeds the Revolving Credit Commitment Exposure (without giving effect to Swingline Loans) of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Fourth Restatement Effective Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments of terminate, commencing on the applicable Class terminatefirst such date to occur after the Fourth Restatement Effective Date. For purposes of calculating the All commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as payable in dollars, shall be computed on the basis of a result year of outstanding Swingline Loans360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(b) Each applicable The Lead Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) in accordance with its Applicable Percentage a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving EurocurrencyTerm Benchmark Loans on the average daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Fourth Restatement Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each the applicable Issuing Bank, for its own account, Bank a fronting fee, in fee with respect of to each Letter of Credit issued by such it, which shall accrue, commencing with the Fourth Restatement Effective Date, at a rate per annum equal to 0.125% on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) attributable to Letters of Credit issued by the Issuing Bank for Banks during the period from and including the Fourth Restatement Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the Issuing Bank’s reasonable standard fees and customary fees commissions with respect to the issuance, amendment, cancellation, negotiation, transfer, presentment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation All fees referred to in clause (ii) of the foregoing sentence shall be calculated and payable in dollars; provided that, at the election of the applicable Issuing Bank or (solely to the extent permitted by the applicable Issuing Bank’s policies and procedures) the Lead Borrower, in the case of a Letter of Credit denominated in an Alternative Currency such fees shall be calculated and payable in such Alternative Currency. Unless otherwise specified above, participation fees and fronting fees accrued to but excluding through the last Business Day day of each March, June, September and December of each year shall be payable in arrears for the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after the last day of March, June, September and December of each year and on the date on which the Commitments terminate, commencing on the first such calendar quarterdate to occur after the Fourth Restatement Effective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 ten (10) days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Lead Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by the Borrowers between Holdings and the Administrative Agent Agent.
(d) The Lead Borrower agrees to pay to the applicable Arranger the applicable fees agreed to between Holdings and such Arranger in writingany Fee Letter or as otherwise agreed in writing between them in the manner and at the times set forth therein.
(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available fundsSame Day Funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees The amount of such fees required to be paid hereunder shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Revolving Credit Agreement (CF Industries Holdings, Inc.)
Fees. (a) Each applicable Borrower agrees The Borrowers agree to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate 0.25% per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused Available Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Third Restatement Date to but excluding the date on which such L▇▇▇▇▇’s the Revolving Credit Lenders’ Revolving Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the first Business Day following the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) calendar quarter and on the date on which the Revolving Credit Commitments of terminate, commencing on the applicable Class terminatefirst such date to occur after the Third Restatement Date. For purposes of calculating the All commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as computed on the basis of a result year of outstanding Swingline Loans360 days and shall be payable for the actual number of days elapsed.
(b) Each applicable Borrower agrees The Borrowers agree to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate Spread in the case of standby Letters of Credit, and 50% of the Applicable Spread in the case of trade Letters of Credit, in each case used to determine the interest rate applicable to Adjusted Term SOFR Rate EurocurrencyTerm Benchmark Revolving Loans on the average daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Third Restatement Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each the applicable Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at the rate of each Letter 0.125% per annum on the average daily amount of Credit issued by such Issuing Bank for the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Third Restatement Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding the last Business Day of each March, June, September through and December shall be payable in arrears for the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after including the last day of each calendar quarter shall be payable on the first Business Day following the end of each calendar quarter and on the date on which the Revolving Commitments terminate, commencing on the first such calendar quarterdate to occur after the Third Restatement Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand (accompanied by reasonable back-up documentation) thereforyear of 360 days and shall be payable for the actual number of days elapsed.
(c) [Reserved].
(d) Each Borrower agrees The Borrowers agree to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available fundsDollars, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to itan Issuing Bank) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Second Amendment (ODP Corp)
Fees. (a) Each applicable Borrower agrees The Borrowers agree to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit unused Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments of terminate, commencing on the applicable Class terminate. For purposes of calculating first such date to occur after the commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as a result of outstanding Swingline Loansdate hereof.
(b) Each applicable Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation in each Letter of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), during the period from and including the Closing Date to the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank and the applicable The Borrowers (but in any event not to exceed 0.125% per annum) of the daily face amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding the last Business Day of each March, June, September and December shall be payable in arrears for the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after the last day of such calendar quarter; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefor.
(c) [Reserved].
(d) Each Borrower agrees agree to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Parent and the Administrative Agent in writingthe Fee Letter.
(ec) All fees payable under this Section 2.9 shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of a fee hereunder shall be conclusive absent manifest error.
(d) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately Immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid Fees, once paid, shall be fully earned and shall not be refundable under any circumstances except as otherwise provided circumstances.
(e) The Borrowers agree to pay (i) to the Administrative Agent for the account of each Lender a participation fee with respect to its participations in the Fee Letter. Fees payable hereunder Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Eurocurrency Rate Loans on the average daily Dollar amount of such Lender’s LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date on which such Lender’s Commitment terminates and the date on which such Lender ceases to have any LC Exposure and (ii) to each Issuing Bank for its own account a fronting fee, which shall accrue at the rate of 0.20% per annum on the average daily Dollar amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) attributable to Letters of Credit issued by the Issuing Bank during the period from and including the Effective Date to but excluding the later of the date of termination of the Commitments and the date on which there ceases to be any LC Exposure, as well as the Issuing Bank’s standard fees and commissions with respect to the issuance, amendment, cancellation, negotiation, transfer, presentment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Unless otherwise specified above, participation fees and fronting fees accrued through and including the last day of March, June, September and December of each year shall be payable on the month immediately preceding last day of each such month, commencing on the applicable fee payment date.
(f) In the event that, on or prior first such date to the date that is six months occur after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) ; provided that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of all such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts fees shall be due and payable on the date of effectiveness of on which the Commitments terminate and any such Repricing Transaction.
fees accruing after the date on which the Commitments terminate shall be payable on demand. Any other fees payable to the Issuing Banks pursuant to this paragraph shall be payable within two (g2) Unless otherwise indicated herein, all computations of Business Days after demand. All participation fees and fronting fees shall be made computed on the basis of a 360-day year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent Participation fees and fronting fees in respect of the amount Letters of any fee hereunder Credit shall be conclusive and binding for all purposes, absent manifest errorpaid in Dollars.
Appears in 1 contract
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate 0.50% per annum applicable to on the daily amount by which the Revolving Commitment of such Lender exceeds the Revolving Credit Commitment Exposure of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments of terminate, commencing on the applicable Class terminatefirst such date to occur after the date hereofEffective Date. For purposes of calculating the All commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as computed on the basis of a result year of outstanding Swingline Loans360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurodollar Revolving Loans on the average daily face amount of such Lender’s LC Exposure (excluding any portion thereof attributable to its unreimbursed LC Disbursements following the date of the applicable LC Disbursement) during the period from and including the Effective Date to but excluding the later of the date on which such Lender’s Revolving Credit Commitment terminates and the date on which such Lender ceases to have any LC Exposure and (ii) to the relevant Issuing Bank a fronting fee, which shall accrue at the rate of such Class in respect 0.125% per annum on the average daily amount of such Letter of Credit the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) attributable to Letters of Credit issued by such Issuing Bank during the period from and including the Closing Effective Date to but excluding the later of the date on which such of termination of the Revolving Lender’s Revolving Credit Commitment of such Class terminates Commitments and the date on which such Revolving Lender there ceases to have be any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers (but in any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditExposure, as well as such Issuing Bank’s reasonable standard fees and customary fees commissions with respect to the issuance, amendment, cancellation, negotiation, transfer, presentment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation Unless otherwise specified above, participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended third (or3rd) Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 ten (10) days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent Agent.
(d) In the event that (i) the Term B Loans are repaid, converted or exchanged in writingwhole or in part on or after the Amendment No. 1 Effective Date but on or prior to the one year anniversary of the Amendment No. 1 Effective Date with the proceeds of other loans or converted or exchanged to other loans (other than any such loans incurred in connection with a Change of Control), in each case with a Yield that is lower than the Yield of the Term B Loans or (ii) this Agreement is amended prior to the one year anniversary of the Amendment No. 1 Effective Date in a manner that effectively reduces the interest rateYield on the Term B Loans, then the Borrower shall pay to each Term Lender a fee equal to (x) in the case of an event described in clause (i) above, 1.00% of the principal amount of such Term B Loans that are so repaid, converted or exchanged, payable at the time such Term B Loans are repaid, converted or exchanged or (y) in the case of an event described in clause (ii) above, 1.00% of the then-outstanding Term B Loans of such Lender.
(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable relevant Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and Letter of Credit participation fees, to the Revolving relevant Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Fees. (a) Each applicable The Borrower agrees Borrowers agree to pay to the Administrative Agent a commitment fee for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused undrawn portion of the Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s the Lenders’ Revolving Credit Commitments terminate; it being understood that the LC Exposure of a Lender shall be included and the Swingline Exposure of a Lender shall be excluded in the drawn portion of the Revolving Commitment of such Class terminateLender for purposes of calculating the commitment fee. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments of terminate, commencing on the applicable Class terminatefirst such date to occur after the date hereof. For purposes of calculating the All commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as computed on the basis of a result year of outstanding Swingline Loans365 days (or 366 days in a leap year) and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(b) Each applicable The Borrower agrees agreesBorrowers agree to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurodollar Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each the Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at the rate of each Letter [REDACTED]% per annum on the daily amount of the LC Exposure attributable to Letters of Credit issued by such Issuing Bank for (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the Issuing Bank’s reasonable standard fees and customary fees commissions with respect to the issuance, amendment, cancellation, negotiation, transfer, presentment, renewal or extension of any Letter of Credit or processing of drawings thereunderthereunder as set forth on Schedule 2.12. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 ten (10) days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 365 days (accompanied by reasonable back-up documentationor 366 days in a leap year) thereforand shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees agreesBorrowers agree to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by the Borrowers between theany Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Credit Agreement (CRH Medical Corp)
Fees. (a) Each applicable [Intentionally Omitted.]
(b) The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment feefee in Dollars, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to on the daily unused Dollar Equivalent amount of the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Restatement Effective Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in Dollars in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the Restatement Effective Date. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlyfees, no portion a Revolving Commitment of the a Revolving Credit Commitments Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Revolving Lender (and solely for the purposes of computing commitment fees, the Swingline LoansExposure of each Lender other than the Swingline Lender shall be disregarded for such purpose and the Swingline Loans shall be considered to be borrowed amounts under the Swingline Lender’s Revolving Commitment).
(bc) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting including the applicable Issuing Bank in its capacity as a Lender) a participation fee in Dollars with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurocurrency Revolving Loans on the daily face amount of such Revolving Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Restatement Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related Exposure; provided, that, upon the occurrence of an Event of Default and until such Event of Default shall have been cured or waived, at the discretion of the Administrative Agent or upon written demand by the Required Lenders (or, if the maturity of the Loans has been accelerated, a Majority in Interest of the Revolving Lenders) to its the Administrative Agent, the participation fee paid to each Revolving Credit Commitment of such Class in respect of such Letter of Credit Lender shall be increased by two percent (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments2%) per annum, and (ii) to each Issuing Bank, Bank for its own account, account a fronting feefee in Dollars, in respect which shall accrue at a rate per annum equal to 0.125% on the average daily amount of each Letter the LC Exposure attributable to Letters of Credit issued by such Issuing Bank for (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Restatement Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterRestatement Effective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable in Dollars for the actual number of days elapsed (accompanied by reasonable back-up documentation) therefor.
(c) [Reserved]including the first day but excluding the last day).
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent Agent, including as set forth in writingthe Fee Letters.
(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable an Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent in dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a the rate equal to the Commitment Fee Rate of 0.50% per annum applicable to the Revolving Credit Commitment of such Class on the average daily unused amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s the Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after on the last day Business Day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the Effective Date. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlyfees, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent in dollars for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurocurrency Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to and including the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each Issuing Bank, for its own account, Bank in dollars a fronting fee, in respect which shall accrue at a rate equal to 0.25% per annum (or such lower rate as may be agreed between the Borrower and the relevant Issuing Bank) on the daily amount of each Letter the LC Exposure attributable to Letters of Credit issued by such Issuing Bank for (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to and including the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding shall be payable on the last Business Day of each March, June, September and December shall be payable in arrears for of each year, commencing on the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any an Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent (including those set forth in writingthe Fee Letters).
(ed) All fees payable hereunder shall be paid on Notwithstanding the dates dueforegoing, in Dollars and in immediately available fundssubject to Section 2.22, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid Borrower shall not be refundable under obligated to pay any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or prior amounts to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made Defaulting Lender pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing TransactionSection.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Fees. (a) Each applicable Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) and on the date on which the Revolving Credit Commitments of the applicable Class terminate. For purposes of calculating the commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as a result of outstanding Swingline Loans.
(b) Each applicable Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation in each Letter of Credit, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), during the period from and including the Closing Date to the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) and (ii) to each Issuing Bank, for its own account, a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank and the applicable Borrowers (but in any event not to exceed 0.125% per annum) of the daily face amount of such Letter of Credit, as well as such Issuing Bank’s reasonable and customary fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding the last Business Day of each March, June, September and December shall be payable in arrears for the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after the last day of such calendar quarter; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 30 days after receipt of a written demand (accompanied by reasonable back-up documentation) therefor.
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own accountthe account of each Lender (in each case pro rata according to the respective Available Revolving Credit Commitments of all such Lenders), a commitment fee for each day from and including the Closing Date to but excluding the Revolving Credit Maturity Date on the average daily closing balances of the unused amount of the Total Revolving Credit Commitment. Such commitment fee shall be payable in arrears (i) on the last Business Day of each of March, June, September and December (for the three-month period (or portion thereof) ended on such day) and (ii) on the Revolving Credit Maturity Date (for the period ended on such date for which no payment has been received pursuant to clause (i) above), and shall be computed during such period at the rate of 0.50% per annum on the average daily closing balances of the unused amount of the Total Revolving Credit Commitment. Notwithstanding the foregoing, the fees in the Borrower shall not be obligated to pay any amounts and at the times separately agreed upon by the Borrowers and the Administrative Agent in writingto any Defaulting Lender pursuant to this Section 3.1.
(eb) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, The Borrower agrees to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each benefit of the applicable Amendment No. 8 Term Administrative Agent, the fees for acting as administrative agent in the amounts and on the dates previously agreed to in writing by the Borrower and the Administrative Agent, as amended from time to time by agreement between the Administrative Agent and the Borrower.
(c) The Borrower agrees to pay on the Closing Date to the Arranger, for the benefit of the Lenders, (I) the fees in the case of clause (x), a premium of 1.00% of amounts previously agreed to in writing by the aggregate principal amount of Borrower and the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced Arranger and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable term sheet for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest errorfinancing contemplated hereby.
Appears in 1 contract
Fees. (a) Each applicable With the exception of a Defaulting Lender subject to Section 2.21 below, the Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to 1.00% on the Commitment Fee Rate per annum applicable to the Revolving Credit daily unused amount of each Commitment of such Class on the average daily amount of the Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit the aggregate Commitments of such Class terminate. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after in respect of the Commitments, on the last day Business Day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlywith respect to Commitments, no portion a Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender (and the Swingline LoansExposure of such Lender shall be disregarded for such purpose).
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Revolving Eurodollar Loans on the daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each the Issuing Bank, for its own account, Bank a fronting fee, in respect of each Letter of Credit issued by such Issuing Bank for the period from the date of issuance of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed which shall accrue at a rate equal to 0.25% per annum on the rate agreed by such Issuing Bank daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of termination of the Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding shall be payable on the last Business Day of each March, June, September and December shall be payable in arrears for of each year, commencing on the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarter; Effective Date, provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Borrower and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Fees. (a) Each applicable The Borrower agrees to pay to the Administrative Agent Agent, for the account of each Revolving Lender of any Class Lender, an unused commitment fee (other than any Defaulting Lenderthe “Unused Commitment Fee”) a commitment fee, which shall accrue at a rate equal to 0.50% per annum on the daily average of the Aggregate Unused Commitment; provided that the amount of outstanding Swingline Loans shall not be considered usage of the Commitments for the purpose of calculating such fee. Such Unused Commitment Fee Rate per annum applicable to the Revolving Credit Commitment of such Class shall be calculated on the average daily amount basis of the a year consisting of 360 days. The Unused Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Date to the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminate. Accrued commitment fees Fee shall be payable in arrears no later than 15 calendar days after on the last day of each Marchcalendar month, Junecommencing with the first such date to occur after the Interim Facility Effective Date, September and December on the Maturity Date for any period then ending for which the Unused Commitment Fee shall not have been theretofore paid. In the event the Commitments terminate on any date other than the last day of a calendar month, the Borrower agrees to pay to the Administrative Agent, for the quarterly period then ended (commencing account of each Lender, on September 30the date of such termination, 2017, but in the case of the payment made on September 30, 2017, total Unused Commitment Fee due for the period from the Closing Date last day of the immediately preceding calendar month to such date) and on the date on which the Revolving Credit Commitments of the applicable Class terminate. For purposes of calculating the commitment fees only, no portion of the Revolving Credit Commitments shall be deemed utilized as a result of outstanding Swingline Loanssuch termination occurs.
(b) Each applicable The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the Applicable Rate used to determine the same interest rate applicable to Adjusted Term SOFR Rate Revolving Eurodollar Loans (based on a one month Interest Period) on the average daily face amount of such Lender’s LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Interim Facility Effective Date to but excluding the later of the date on which such Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each the applicable Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at the rate equal to 0.125% per annum on the average daily amount of each Letter of Credit issued by such Issuing Bank for the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Interim Facility Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the applicable Issuing Bank’s reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding the last Business Day of each March, June, September through and December shall be payable in arrears for the quarterly period then ended (or, in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) no later than 15 calendar days after including the last day of each calendar month shall be payable on the third Business Day following such calendar quarterlast day, commencing on the first such date to occur after the Interim Facility Effective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the applicable Issuing Bank pursuant to this paragraph shall be payable within 30 ten (10) days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved]The Borrower agrees to pay to the Administrative Agent and JPMorgan Chase Bank, for their respective accounts, the fees set forth in the fee letter payable to the Administrative Agent and JPMorgan Chase Bank and such other fees payable in the amounts and at the times separately agreed upon between the Borrower, the Administrative Agent and JPMorgan Chase Bank.
(d) Each The Borrower agrees to pay to the Administrative Agent, for its own accountthe ratable benefit of each New Money Lender, the fees set forth in the amounts and at the times separately agreed upon by the Borrowers and fee letter payable to the Administrative Agent in writingfor the benefit of the New Money Lenders.
(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees Unused Commitment Fees and participation fees, to the Revolving Lenders. Fees Subject to Section 11.13, fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Senior Secured Super Priority Debtor in Possession Credit Agreement
Fees. (a) Each applicable Borrower agrees The Borrowers agree to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment feefee (the "Commitment Fee"), which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily amount of the Unused Available Revolving Credit Commitment of such Class of such Revolving Lender during the period from and including the Closing Effective Date to but excluding the date on which such L▇▇▇▇▇’s the Lenders' Revolving Credit Commitments of such Class terminate. Accrued commitment fees Commitment Fees shall be payable in arrears no later than 15 calendar days after on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the date hereof. All Commitment Fees shall be computed on the basis of a year of 360 days and shall be payable for the applicable Class terminateactual number of days elapsed (including the first day but excluding the last day). For purposes of calculating computing the commitment fees onlyCommitment Fees, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Swingline LoansRevolving Exposure and participation in Protective Advances of such Lender.
(b) Each applicable Borrower agrees The Borrowers agree to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Adjusted Term SOFR Rate Eurodollar Revolving Loans on the average daily face amount of such Lender’s 's LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Lender's Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each the Issuing Bank, for its own account, Bank a fronting fee, in respect which shall accrue at the rate of each Letter 0.25% per annum on the average daily amount of Credit issued by such Issuing Bank for the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the Issuing Bank’s 's reasonable and customary standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each Borrower agrees The Borrowers agree to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers and the Administrative Agent in writingunder the Fee Letter.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees Commitment Fees and participation fees, to the Revolving Lenders. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Sources: Credit Agreement (Visteon Corp)
Fees. (a) Each applicable Borrower The Company agrees to pay to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a commitment fee, which shall accrue at a rate equal to the Commitment Fee Applicable Rate per annum applicable to the Revolving Credit Commitment of such Class on the average daily unused amount of the Unused Revolving Credit each Commitment of such Class of such Revolving Lender during the period from and including the Closing Date date of this Agreement to but excluding the date on which such L▇▇▇▇▇’s Revolving Credit Commitments of such Class terminateCommitment terminates. Accrued commitment fees shall be payable in arrears no later than 15 calendar days after (i) in the case of commitment fees in respect of the Revolving Commitments, on the last day of each March, June, September and December for the quarterly period then ended (commencing on September 30, 2017, but in the case of the payment made on September 30, 2017, for the period from the Closing Date to such date) each year and on the date on which the Revolving Credit Commitments terminate, commencing on the first such date to occur after the date hereof, and (ii) in the case of commitment fees in respect of the applicable Class Tranche A Term Commitments and Tranche B Term Commitments, on the earlier of the First Borrowing Date and the Termination Date or any earlier date on which such Commitments terminate. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). For purposes of calculating the computing commitment fees onlywith respect to Revolving Commitments, no portion a Revolving Commitment of the Revolving Credit Commitments a Lender shall be deemed utilized as a result to be used to the extent of the outstanding Swingline LoansRevolving Loans and LC Exposure of such Lender.
(b) Each applicable Borrower The Company agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender of any Class (other than any Defaulting Lender) a participation fee with respect to its participation participations in each Letter Letters of Credit, which shall accrue at the same Applicable Rate used to determine the as interest rate applicable to Adjusted Term SOFR Rate on Eurodollar Revolving Loans on the average daily face amount of such Lender’s 's LC Exposure attributable to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (excluding any portion thereof attributable to unreimbursed LC Disbursements), ) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Lender's Revolving Lender’s Revolving Credit Commitment of such Class terminates and the date on which such Revolving Lender ceases to have any LC Exposure related to its Revolving Credit Commitment of such Class in respect of such Letter of Credit (including any such Letter of Credit Exposure that may exist following the termination of such Revolving Credit Commitments) Exposure, and (ii) to each the Issuing Bank, for its own account, Bank a fronting fee, in respect of each Letter of Credit issued by such which shall accrue at the rate or rates per annum separately agreed upon between the Company and the Issuing Bank for on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of issuance termination of such Letter of Credit to the expiration date of such Letter of Credit (or if terminated on an earlier date, to the termination date of such Letter of Credit), computed at a rate equal to the rate agreed by such Issuing Bank Revolving Commitments and the applicable Borrowers (but in date on which there ceases to be any event not to exceed 0.125% per annum) of the daily face amount of such Letter of CreditLC Exposure, as well as such the Issuing Bank’s reasonable and customary 's standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued to but excluding through and including the last Business Day day of each March, June, September and December of each year shall be payable in arrears for on the quarterly period then ended (orthird Business Day following such last day, in commencing on the case of the payment made on September 30, 2017, for the period from the Closing Date first such date to such date) no later than 15 calendar days occur after the last day of such calendar quarterEffective Date; provided PROVIDED that all such fees shall be payable on the date on which the Revolving Credit Commitments of the applicable Class terminate, terminate and any such fees accruing after the date on which the Revolving Credit Commitments of the applicable Class terminate shall be payable on demand. Any other fees payable to any the Issuing Bank pursuant to this paragraph shall be payable within 30 10 days after receipt demand. All participation fees and fronting fees shall be computed on the basis of a written demand year of 360 days and shall be payable for the actual number of days elapsed (accompanied by reasonable back-up documentation) thereforincluding the first day but excluding the last day).
(c) [Reserved].
(d) Each Borrower The Company agrees to pay to the Administrative Agent, for its own account, the fees payable in the amounts and at the times separately agreed upon by between the Borrowers Company and the Administrative Agent in writingAgent.
(ed) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Revolving LendersLenders entitled thereto. Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment datecircumstances.
(f) In the event that, on or prior to the date that is six months after the Amendment No. 8 Effective Date, a Borrower (x) prepays, repays, refinances, substitutes or replaces any Amendment No. 8 Term Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section 2.11(b)(iii) that constitutes a Repricing Transaction) or (y) effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower of the Amendment No. 8 Term Loans shall pay to the Administrative Agent, for the ratable account of each of the applicable Amendment No. 8 Term Lenders, (I) in the case of clause (x), a premium of 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans so prepaid, repaid, refinanced, substituted or replaced and (II) in the case of clause (y), a fee equal to 1.00% of the aggregate principal amount of the Amendment No. 8 Term Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is six months after the Amendment No. 8 Effective Date, all or any portion of the Amendment No. 8 Term Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) as a result of, or in connection with, such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment referred to in clause (y) above (or otherwise in connection with a Repricing Transaction), such prepayment, repayment, refinancing, substitution or replacement will be made at 101% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.
(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of the amount of any fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract