Common use of Non-Use Fee Clause in Contracts

Non-Use Fee. The Company agrees to pay to Administrative Agent at its Principal Office for the account of each Lender a non-use fee, for the period from the Closing Date to the Termination Date, at the Non-Use Fee Rate in effect from time to time of such Lender’s Pro Rata Share (as adjusted from time to time) of the unused amount of the Commitment; provided, that (i) any non-use fee accrued with respect to any of the Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall be payable by the Company so long as such commitment fee shall otherwise have been due and payable by the Company prior to such time of such Lender becoming a Defaulting Lender and (ii) no commitment fee shall accrue on any of the Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. For purposes of calculating usage under this Section 5.1, the Commitment shall be deemed used to the extent of the sum of aggregate principal amount of all outstanding Revolving Loans plus the aggregate amount available for drawing under issued Letters of Credit. For purposes of calculating the Non-Use Fee Rate, Swing Line Loans will not be deemed to be a utilization of the Commitments. Such non-use fee shall be payable in arrears on the last day of each calendar quarter and on the Termination Date for any period then ending for which such non-use fee shall not have previously been paid. The non-use fee shall be computed for the actual number of days elapsed on the basis of a year of 360 days.

Appears in 2 contracts

Sources: Credit Agreement (Centene Corp), Credit Agreement (Centene Corp)

Non-Use Fee. The Company agrees to pay to the Administrative Agent at its Principal Office for the account of each Lender a non-use feefee (the “Non-Use Fee”), for accruing at all times during the period from the Closing Date to the Termination DateAvailability Period, at the Non-Use Fee Rate in effect from time to time of on such Lender’s Pro Rata Share (as adjusted from time to time, including without limitation in accordance with Section 2.8) of the unused amount of the CommitmentAggregate Revolving Commitments. For purposes of calculating usage under this Section, the Aggregate Revolving Commitments shall be deemed used to the extent of aggregate Outstanding Amount of all Revolving Loans and L/C Obligations. Such Non-Use Fee shall accrue at all times during the Availability Period and be payable in arrears on the last day of each calendar quarter and on the Maturity Date for any period then ending for which such Non-Use Fee shall not have previously been paid; provided, that (iA) no Non-Use Fee shall accrue on the Revolving Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (B) any nonNon-use fee Use Fee accrued with respect to any of the Commitments Revolving Commitment of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Company so long as such commitment fee shall otherwise have been due and payable by the Company prior to such time of such Lender becoming a Defaulting Lender and (ii) no commitment fee shall accrue on any of the Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. For purposes of calculating usage under this Section 5.1, the Commitment shall be deemed used to the extent of the sum of aggregate principal amount of all outstanding Revolving Loans plus the aggregate amount available for drawing under issued Letters of Credit. For purposes of calculating the The Non-Use Fee Rate, Swing Line Loans will not be deemed to be a utilization of the Commitments. Such non-use fee shall be payable in arrears on the last day of each calendar quarter and on the Termination Date for any period then ending for which such non-use fee shall not have previously been paid. The non-use fee shall be computed for the actual number of days elapsed on the basis of a year of 360 days. For purposes of clarification, Swing Line Loans shall not be considered outstanding for purposes of determining the Non-Use Fee.

Appears in 2 contracts

Sources: Credit Agreement (SP Plus Corp), Credit Agreement (Standard Parking Corp)

Non-Use Fee. The Company agrees to pay to the Administrative Agent at its Principal Office for the account of each Lender Bank a non-use fee, for the period from the Closing Effective Date to the latest of the Revolving Termination Date, the Acquisition Termination Date and the Term A Termination Date, at a rate per annum equal to the Non-Use Fee Rate in effect from time to time of the daily average of such Lender’s Pro Rata Share (as adjusted from time to time) Bank's Revolving Percentage of the unused amount of the Commitment; provided, that (i) any non-use fee accrued with respect to any Revolving Commitment Amount and/or such Bank's Acquisition Percentage of the Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall be payable by the Company so long as such commitment fee shall otherwise have been due and payable by the Company prior to such time of such Lender becoming a Defaulting Lender and (ii) no commitment fee shall accrue on any unused amount of the Commitments Acquisition Commitment Amount and/or such Bank's Term A Percentage of a Defaulting Lender so long as such Lender shall be a Defaulting Lenderthe unused amount of the Term A Commitment Amount. For purposes of calculating usage under this Section 5.1Section, the Revolving Commitment Amount shall be deemed used to the extent of the sum of the aggregate outstanding principal amount of all outstanding Revolving Loans plus and the Stated Amount of Letters of Credit at such time, the Acquisition Commitment Amount shall be deemed used to the extent of the aggregate outstanding principal amount available for drawing under issued Letters of Credit. For purposes of calculating all Acquisition Loans at such time, and the Non-Use Fee Rate, Swing Line Loans will not Term A Commitment Amount shall be deemed used to be a utilization the extent of the Commitmentsaggregate outstanding principal amount of all Term A Loans at such time. Such non-use fee shall be payable in arrears on the last day Business Day of each calendar quarter and on the latest of the Revolving Termination Date, the Acquisition Termination Date and the Term A Termination Date for any period then ending for which such non-use fee shall not have previously theretofore been paid. The non-use fee shall be computed for the actual number of days elapsed on the basis of a year of 360 days.

Appears in 1 contract

Sources: Credit Agreement (Synagro Technologies Inc)

Non-Use Fee. The Company agrees to pay to the Administrative Agent at its Principal Office for the account of each Lender Bank a non-use fee, for the period from the Closing Effective Date to the later of the Revolving Termination Date and the Acquisition Termination Date, at a rate per annum equal to the Non-Use Fee Rate in effect from time to time of the daily average of such Lender’s Pro Rata Share (as adjusted from time to time) Bank's Revolving Percentage of the unused amount of the Commitment; provided, that (i) any non-use fee accrued with respect to any Revolving Commitment Amount and/or such Bank's Acquisition Percentage of the Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall be payable by the Company so long as such commitment fee shall otherwise have been due and payable by the Company prior to such time of such Lender becoming a Defaulting Lender and (ii) no commitment fee shall accrue on any unused amount of the Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting LenderAcquisition Commitment Amount. For purposes of calculating usage under this Section 5.1Section, the Revolving Commitment Amount shall be deemed used to the extent of the sum of the aggregate outstanding principal amount of all outstanding Revolving Loans plus and the Stated Amount of Letters of Credit at such time and the Acquisition Commitment Amount shall be deemed used to the extent of the aggregate outstanding principal amount available for drawing under issued Letters of Credit. For purposes of calculating the Non-Use Fee Rate, Swing Line all Acquisition Loans will not be deemed to be a utilization of the Commitmentsat such time. Such non-use fee shall be payable in arrears on the last day Business Day of each calendar quarter and on the later of the Revolving Termination Date and the Acquisition Termination Date for any period then ending for which such non-use fee shall not have previously theretofore been paid. The non-use fee shall be computed for the actual number of days elapsed on the basis of a year of 360 days.

Appears in 1 contract

Sources: Credit Agreement (Synagro Technologies Inc)