Common use of Non-Use Fee Clause in Contracts

Non-Use Fee. The Company agrees to pay to the Administrative Agent for the account of each Lender a non-use fee (“Non-Use Fee”), for the period from the Restatement Date to the Termination Date, at the Non-Use Fee Rate of such Lender’s Pro Rata Share (as adjusted from time to time) of the average daily unused amount of the Revolving Commitment calculated on a quarterly basis. For purposes of calculating usage under this Section, the Revolving Commitment shall be deemed used to the extent of Revolving Outstandings. Such Non-Use Fee shall be payable in arrears on the first 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

Samples: Credit Agreement (Titan International Inc), Credit Agreement (Titan International Inc)

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Non-Use Fee. The Company agrees to pay to the Administrative Agent for the account of each Lender with a Revolving Commitment a non-use fee (“Non-Use Fee”)fee, for the period from the Restatement Closing Date to the Termination Date, at by applying the Non-Use Fee Rate of in effect from time to time to such Lender’s Pro Rata Share Applicable Percentage (as adjusted from time to time) of the average daily unused amount of the Revolving Commitment calculated on a quarterly basisCommitment. For purposes of calculating usage under this Section, the Revolving Commitment shall be deemed used to the extent of Revolving Outstandings. Such Nonnon-Use Fee use fee shall be payable in arrears on the first last day of each calendar quarter and on the Termination Date for any period then ending for which such Nonnon-Use Fee use fee shall not have previously been paid. The Nonnon-Use Fee 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

Samples: Credit Agreement (Cpi Corp)

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Non-Use Fee. The Company agrees to pay to the Administrative Agent for the account of each Lender a non-use fee ("Non-Use Fee"), for the period from the Restatement Closing Date to the Termination Date, at the Non-Use Fee Rate of such Lender’s 's Pro Rata Share (as adjusted from time to time) of the average daily unused amount of the Revolving Commitment calculated on a quarterly basis. For purposes of calculating usage under this Section, the Revolving Commitment shall be deemed used to the extent of Revolving Outstandings. Such Non-Use Fee shall be payable in arrears on the first day of each calendar quarter and on the Termination Date for any period then ending for which such Nonnon-Use Fee 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 1 contract

Samples: Credit Agreement (Titan International Inc)

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