Common use of Non-Utilization Fee Clause in Contracts

Non-Utilization Fee. (a) The Distribution Borrowers agree to pay to the Lender a non-utilization fee equal to one-quarter of one percent of the total of (i) the Facility A Loan Commitment, minus (ii) the sum of (A) the daily average of the aggregate principal amount of all Facility A Loans outstanding, plus (B) the daily average of the aggregate amount of the Distribution Letter of Credit Obligations, which non-utilization fee shall be (x) calculated on the basis of a year consisting of 365 days, (y) paid for the actual number of days elapsed, and (z) payable quarterly in arrears on the last day of each April, July, October and January, commencing on July 31, 2005, and on the Revolving Loan Maturity Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Amrep Corp)

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Non-Utilization Fee. (a) The Distribution Borrowers agree to pay to the Lender a non-utilization fee equal to one-one quarter of one percent (0.25%) of the total of (ia) the Facility A Revolving Loan Commitment, minus (iib) the sum of (Ai) the daily average of the aggregate principal amount of all Facility A Revolving Loans outstanding, plus (Bii) the daily average of the aggregate amount of the Distribution Letter of Credit Obligations, which non-utilization fee shall be (xA) calculated on the basis of a year consisting of 365 360 days, (yB) paid for the actual number of days elapsed, and (zC) payable quarterly in arrears on the last day of each AprilMarch, JulyJune, October September and JanuaryDecember, commencing on July December 31, 20052008, and on the Revolving Loan Maturity Date. As of October 31, 2008, Borrowers shall pay to Lender the non-utilization fee due under the Prior Loan Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Hill International, Inc.)

Non-Utilization Fee. (a) The Distribution Borrowers agree to pay to the Lender Bank a non-utilization fee equal to one-quarter thirty five hundreths of one percent (.35%) of the total of (ia) the Facility A Revolving Loan Commitment, minus (iib) the sum of (Ai) the daily average of the aggregate principal amount of all Facility A Revolving Loans outstanding, plus outstanding and (Bii) the daily average of the aggregate outstanding amount of the Distribution Letter any non-Cash Collateralized Letters of Credit ObligationsCredit, which non-utilization fee shall be (xA) calculated on the basis of a year consisting of 365 360 days, (yB) paid for the actual number of days elapsed, and (zC) payable quarterly in arrears on the last day of each AprilMarch, JulyJune, October September and JanuaryDecember, commencing on July 31September 30, 20052010, and on the Revolving Loan Maturity Date.

Appears in 1 contract

Samples: Loan and Security Agreement (FreightCar America, Inc.)

Non-Utilization Fee. (a) The Distribution Borrowers agree Borrower agrees to pay to the Lender Bank a non-utilization fee equal to onethe Applicable Non-quarter of one percent of Utilization Percentage times the total of (ia) the Facility A Revolving Loan Commitment, minus (iib) the sum of (Ai) the daily average of the aggregate principal amount of all Facility A Revolving Loans outstanding, plus (Bii) the daily average of the aggregate amount of the Distribution Letter of Credit Obligations, which non-utilization fee shall be (xA) calculated on the basis of a year consisting of 365 360 days, (yB) paid for the actual number of days elapsed, and (zC) payable quarterly in arrears on the last day of each AprilMarch, JulyJune, October September and JanuaryDecember, commencing on July 31September 30, 20052004, and on the Revolving Loan Maturity Date.

Appears in 1 contract

Samples: Credit Agreement (Integrity Media Inc)

Non-Utilization Fee. (a) The Distribution Borrowers agree Borrower agrees to pay to the Lender Bank a non-utilization fee equal to one-quarter half of one percent (0.50%) of the total of (ia) the Facility A Loan and Facility B Loan Commitment, minus (iib) the sum of (Ai) the daily average of the aggregate principal amount of all Facility A Loan and Facility B Loans outstanding, plus (Bii) the daily average of the aggregate amount of the Distribution Letter of Credit Obligations, which non-utilization fee shall be (xA) calculated on the basis of a year consisting of 365 360 days, (yB) paid for the actual number of days elapsed, and (zC) payable quarterly in arrears on the last day of each AprilMarch, JulyJune, October September and JanuaryDecember, commencing on July 31September 30, 20052008, and on the Revolving Facility A Loan and Facility B Loan Maturity Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Argyle Security, Inc.)

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Non-Utilization Fee. (a) The Distribution Borrowers agree to pay to the Lender a -------------------- non-utilization fee equal to one-quarter half of one percent (0.50%) of the total of (ia) the Facility A Loan Commitment, minus (iib) the sum of (Ai) the daily average of ----- the aggregate principal amount of all Facility A Loans outstanding, plus (Bii) ---- the daily average of the aggregate amount of the Distribution Letter of Credit Obligations, which . The non-utilization fee shall be (xA) calculated on the basis of a year consisting of 365 360 days, (yB) paid for the actual number of days elapsed, and (zC) payable quarterly in arrears on the last day of each AprilMarch, JulyJune, October September and JanuaryDecember, commencing on July 31September 30, 2005, 2009 and on the Revolving Loan Facility A Maturity Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Amrep Corp.)

Non-Utilization Fee. (a) The Distribution Borrowers agree Borrower agrees to pay to the Lender Bank a non-utilization fee ("Non-Utilization Fee") equal to one-quarter of one percent of the total of (ia) the Facility A Revolving Loan Commitment, minus (iib) the sum of (Ai) the daily average of the aggregate principal amount of all Facility A Revolving Loans outstanding, plus (Bii) the daily average of the aggregate amount of the Distribution Letter of Credit ObligationsObligations multiplied by the Applicable Non-Utilization Fee Rate, which non-non- utilization fee shall be (xA) calculated on the basis of a year consisting of 365 360 days, (yB) paid for the actual number of days elapsed, and (zC) payable quarterly monthly in arrears on the last day Business Day of each April, July, October and Januarymonth, commencing on July 31the last Business Day of September, 20052004, and on the Revolving Loan Maturity Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Boyd Bros Transportation Inc)

Non-Utilization Fee. (a) The Distribution Borrowers agree agrees to pay to the Lender Bank a nonNon-utilization fee Utilization Fee equal to onethe percentage specified as the Applicable Margin for Non-quarter of one percent Utilization Fee of the total of (ia) the Facility A Revolving Loan Commitment, minus (iib) the sum of (Ai) the daily average of the aggregate principal amount of all Facility A Revolving Loans outstanding, plus (Bii) the daily average of the aggregate amount of the Distribution Letter of Credit Obligations, which non-non- utilization fee shall be (xA) calculated on the basis of a year consisting of 365 days, (yB) paid for the actual number of days elapsed, and (zC) payable quarterly in arrears on the last day of each AprilMarch, JulyJune, October September and JanuaryDecember, commencing on July March 31, 20052006, and on the Revolving Loan Maturity Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Smithway Motor Xpress Corp)

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