Common use of Renewal Fee Clause in Contracts

Renewal Fee. In the event that the Revolving Loan Maturity Date shall be extended, the Borrower agrees to pay to the Administrative Agent for distribution to each of the Banks which elects to renew this Agreement in accordance with Section 8.5 hereof, on a pro rata basis in accordance with their respective Commitment Ratios, an annual renewal fee in consideration of the agreement of such Banks to extend the Revolving Loan Maturity Date of this Agreement in the amount of five one hundredths of one percent (.05%) of the amount of the Revolving Loan Commitment (as of the effective date of such renewal). Such fee shall be due and payable on the effective date of the renewal, and shall be fully earned when due and non-refundable when paid. In the event that following the payment of an annual renewal fee, all Obligations of the Borrower hereunder shall be fully and finally performed and this Agreement shall be terminated prior to the extended Revolving Loan Maturity Date, a pro rata portion of such annual renewal fee most recently paid shall be refunded to the Borrower, based upon the time remaining to the extended Revolving Loan Maturity Date.

Renewal Fee. In the event that the Revolving Loan Maturity Date ----------- shall be extended, the Borrower agrees to pay to the Administrative Agent for distribution to each of the Banks which elects to renew this Agreement in accordance with Section 8.5 hereof, on a pro rata basis in accordance with their respective Commitment Ratios, an annual renewal fee in consideration of the agreement of such Banks to extend the Revolving Loan Maturity Date of this Agreement in the amount of five one hundredths of one percent (.05%) of the amount of the Revolving Loan Commitment (as of the effective date of such renewal). Such fee shall be due and payable on the effective date of the renewal, and shall be fully earned when due and non-refundable when paid. In the event that following the payment of an annual renewal fee, all Obligations of the Borrower hereunder shall be fully and finally performed and this Agreement shall be terminated prior to the extended Revolving Loan Maturity Date, a pro rata portion of such annual renewal fee most recently paid shall be refunded to the Borrower, based upon the time remaining to the extended Revolving Loan Maturity Date.