Non-Usage Fees. At the end of each month during the term of this Agreement, Lender will determine the average usage of the Warehousing Commitment by calculating the arithmetic daily average of the Warehousing Advances outstanding during such month ("Used Portion"). Lender will then subtract the Used Portion from the arithmetic daily average of the Warehousing Commitment Amount outstanding during such month, and the result, if positive, will be known as the "Unused Portion." Borrower agrees to pay to Lender a fee ("Non-Usage Fee") in the amount of 0.125% per annum of the Unused Portion during such month, except that no Non-Usage Fee will be charged for any month in which the Used Portion is equal to or greater than 50% of the Warehousing Commitment Amount. The Non-Usage Fee is payable monthly, in arrears. Lender computes the Non-Usage Fee on the basis of the actual number of days in the month and a year of 360 days. Borrower must pay the Non-Usage Fee within 9 days after of the date of Lender's invoice or account analysis statement. If the date set forth in clause (a) of the definition of Warehousing Maturity Date occurs on a day other than the last day of a month, Borrower must pay the prorated portion of the Non-Usage Fee due from the beginning of the month to and including that date. Borrower is not entitled to a reduction in the amount of the Non-Usage Fee if (a) the Warehousing Commitment Amount is reduced or (b) the Warehousing Commitment is terminated at the request of Borrower or as a result of an Event of Default. If the Warehousing Commitment terminates at the request of Borrower or as a result of an Event of Default, Borrower must pay, on the date of termination, a Non-Usage Fee in the amount of 0.125% per annum of the Warehousing Commitment Amount in effect immediately prior to the date of termination, for the period from the date of termination to and including the date set forth in clause (a) of the definition of Warehousing Maturity Date. Lender's determination of the Non-Usage Fee for any period is conclusive and binding, absent manifest error.
Non-Usage Fees. At the end of each calendar quarter during the term hereof, the Lender shall determine the average usage of the Commitment by calculating the arithmetic daily average of the Advances outstanding during such calendar quarter. The Lender shall then subtract such quarterly average usage (the "Used Portion") from the Commitment Amount (and the result thereof shall be known as the "Unused Portion"). If the Unused Portion is more than forty percent (40%) of the Commitment Amount, the Company shall pay in arrears, within thirty (30) days after the end of each calendar quarter, a Non-Usage Fee (the "Non-Usage Feel,) equal to one-quarter percent (.25%) per annum on the total amount of the Unused Portion of the Commitment during such calendar quarter. If the Maturity Date of the Commitment is other than the last day of a quarter, the Company shall pay the prorated portion of the quarterly Non-Usage Fee due from the beginning of the then current quarter to and including the Maturity Date. For the purposes hereof, quarters shall be defined as beginning April 1, July 1, October 1 and January 1. In the absence of manifest error, the calculation by the Lender of the amount of any Non-Usage Fee shall be conclusive. If the Commitment terminates at the request of the Company or as a result of an Event of Default, the Non-Usage Fee shall be due and owing through the last day of the current quarter.
Non-Usage Fees. The Borrower shall pay the Bank a non-usage fee at the rate of 0.125% per annum on the average daily unused amount of the Facility Amount from the Closing Date to and including the Maturity Date, payable quarterly on the last day of each calendar quarter, commencing on September 30, 2003. Any non-usage fee remaining unpaid on the Maturity Date shall be due and payable on that date.
Non-Usage Fees. No Defaulting Lender shall be entitled to receive any non-usage fee for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise would have been required to have been paid to that Defaulting Lender).
Non-Usage Fees. In addition to any other fees set forth in this Agreement, Borrower shall pay to Agent on behalf of Lenders in Immediately Available Funds a non-usage fee equal to 0.15% per annum multiplied by the unadvanced portion of the Revolving Commitment Amount (after deducting the undrawn amount of any Letters of Credit outstanding hereunder), payable on the first day of each calendar quarter, calculated in arrears based on the average daily balance of the unadvanced portion of the Revolving Commitment Amount during the prior calendar quarter; the first payment of such fee shall be due and payable on April 1, 2008 and shall be pro rated based upon that portion of the calendar quarter during which the Revolving Commitment is outstanding. The non-usage fee shall be shared among the Lenders in accordance with the daily average Commitment Percentages of the Lenders during such calendar quarter.
Non-Usage Fees. Borrower agrees that with respect to any unused portion of any Revolving Credit Loan, Borrower shall pay to Administrative Agent an annual non-usage fee of fifteen hundredths percent (.15%) to be applied on a quarterly basis to the unused portion of such Revolving Credit Loan for the previous three (3) month period.
Non-Usage Fees. Section 3.5(a) of the Loan Agreement is hereby amended and restated in its entirety to read as follows: “At the end of each Calendar Quarter during the term of this Agreement, Lender will determine the “Daily Unused Portion” for such Calendar Quarter (or applicable portion thereof), by (i) determining for each day during the applicable period the difference between (x) the Warehousing Commitment Amount on each such day, minus (y) the aggregate principal amount of outstanding Advances on each such day, (ii) summing the results of the preceding determinations for each day in the applicable period, and (iii) dividing the sum of such daily determinations by the number of days in the applicable period. Borrowers must pay to Lender a fee (“Non-Usage Fee”) in the amount of the Applicable Nonusage Rate per annum of the Daily Unused Portion for such Calendar Quarter. The Non-Usage Fee is payable quarterly, in arrears on the second (2nd) Business Day of the month following the last day of each Calendar Quarter. Lender computes the Non-Usage Fee on the basis of the actual number of days in each Calendar Quarter and a year of 360 days. If the date set forth in clause (a) of the definition of Maturity Date occurs on a day other than the last day of a Calendar Quarter, Borrowers must pay the prorated portion of the Non-Usage Fee due from the beginning of the then current Calendar Quarter to and including that date.”
Non-Usage Fees. The Co‐Borrowers agrees to pay to the Administrative Agent for the account of each Lender a Non‐Usage Fee for each day on which such respective fees shall be applicable. The Non‐Usage Fee shall accrue from a Determination Date to the next Determination Date. All such accrued and unpaid fees shall be due and payable on each applicable Payment Date. (c)
Non-Usage Fees. In addition to any other fees set forth in this Agreement, Borrower shall pay to Agent on behalf of Lenders in Immediately Available Funds a non-usage fee equal to the percentage set forth below per annum multiplied by the unadvanced portion of the Revolving Commitment Amount (after deducting the undrawn amount of any Letters of Credit outstanding hereunder), payable on the first day of each calendar quarter, calculated in arrears based on the average daily balance of the unadvanced portion of the Revolving Commitment Amount during the prior calendar quarter; the first payment of such fee shall be due and payable on April 1, 2005 and shall be pro rated based upon that portion of the calendar quarter during which the Revolving Commitment is outstanding. The non-usage fee shall be shared among the Lenders in accordance with the daily average Commitment Percentages of the Lenders during such calendar quarter. The non-usage fee shall be equal to 0.15%; provided, however, in the event that Agent determines in its sole discretion (and to the extent that such determination is in reliance upon documentation provided by Borrower, copies shall be provided to each Lender by Agent) that the average daily balance of the unadvanced portion of the Revolving Commitment Amount during the prior calendar quarter shall have been greater than or equal to fifty percent (50%) of the Revolving Commitment Amount, then the non-usage fee as to such quarter shall be equal to 0.20% per annum.
Non-Usage Fees. We reserve the right to charge a reasonable non-use fee to the Account in the event spend fails to exceed the equivalent of $10,000 USD per calendar month.
