Common use of Revolving Credit Facility Fee Clause in Contracts

Revolving Credit Facility Fee. From the date hereof to the Revolving Credit Maturity Date, the Company shall pay to the Agent, for distribution to the Banks (as set forth below), a Revolving Credit Facility Fee determined by multiplying the Applicable Fee Percentage per annum times the Revolving Credit Maximum Amount then applicable under Section 3.15 hereof (whether used or unused), computed on a daily basis. The Revolving Credit Facility Fee shall be payable quarterly in arrears commencing January 1, 1997 (in respect of the prior calendar quarter or portion thereof), and on the first day of each calendar quarter thereafter and on the Revolving Credit Maturity Date, and shall be computed on the basis of a year of three hundred sixty (360) days and assessed for the actual number of days elapsed. Whenever any payment of the Revolving Credit Facility Fee shall be due on a day which is not a Business Day, the date for payment thereof shall be extended to the next Business Day. Upon receipt of such payment Agent shall make prompt payment to each Bank of its share of the Revolving Credit Facility Fee based upon its respective Percentage.

Appears in 1 contract

Samples: Credit Agreement (Credit Acceptance Corporation)

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Revolving Credit Facility Fee. From the date hereof to (but excluding) the Revolving Credit Maturity Date, the Company shall pay to each of the Agent, for distribution to the Banks (as set forth below)Revolving Credit Banks, a Revolving Credit Facility Fee determined by multiplying the Applicable Fee Percentage three eighths of one percent (3/8%) per annum times the average daily amount of the Revolving Credit Maximum Amount then applicable under Section 3.15 hereof (whether used or unused), computed on a daily basisAggregate Commitment. The Revolving Credit Facility Fee shall be payable quarterly in arrears commencing January 1October 15, 1997 (in respect of the prior calendar quarter or portion thereof)2006, and on the first fifteenth day of each calendar quarter January, April, July and October thereafter and on at the Revolving Credit Maturity Date, and shall be computed on the basis of a year of three hundred sixty (360) days and assessed for the actual number of days elapsed. Whenever any payment of the Revolving Credit Facility Fee shall be due on a day which is not a Business Day, the date for payment thereof shall be extended to the next Business Day. Such Revolving Credit Facility Fee shall be paid by Company to the Agent. Upon receipt of such payment payment, Agent shall make prompt payment to each Revolving Credit Bank of its share of the Revolving Credit Facility Fee. The Revolving Credit Facility Fee based upon shall not be refundable under any circumstance. The portion of the Revolving Credit Facility Fee accrued under the Existing Credit Agreement shall be deemed to have accrued up to the date of the execution of this Agreement and its respective Percentagerelated documents and be payable under this Agreement.

Appears in 1 contract

Samples: Credit Agreement (North Pointe Holdings Corp)

Revolving Credit Facility Fee. From the date hereof to (but excluding) the Revolving Credit Maturity Date, the Company shall pay to each of the Agent, for distribution to the Banks (as set forth below)Revolving Credit Banks, a Revolving Credit Facility Fee determined by multiplying the Applicable Fee Percentage one quarter of one percent (1/4%) per annum times the average daily amount of the Revolving Credit Maximum Amount then applicable under Section 3.15 hereof (whether used or unused), computed on a daily basisAggregate Commitment. The Revolving Credit Facility Fee shall be payable quarterly in arrears commencing January 1April 15, 1997 (in respect of the prior calendar quarter or portion thereof)2004, and on the first fifteenth day of each calendar quarter October, January, April and July thereafter and on at the Revolving Credit Maturity Date, and shall be computed on the basis of a year of three hundred sixty (360) days and assessed for the actual number of days elapsed. Whenever any payment of the Revolving Credit Facility Fee shall be due on a day which is not a Business Day, the date for payment thereof shall be extended to the next Business Day. Such Revolving Credit Facility Fee shall be paid by Company to the Agent. Upon receipt of such payment payment, Agent shall make prompt payment to each Revolving Credit Bank of its share of the Revolving Credit Facility Fee. The Revolving Credit Facility Fee based upon shall not be refundable under any circumstance. The portion of the Revolving Credit Facility Fee accrued under the Existing Credit Agreement shall be deemed to have accrued up to the date of the execution of this Agreement and its respective Percentagerelated documents and be payable under this Agreement.

Appears in 1 contract

Samples: Credit Agreement (North Pointe Holdings Corp)

Revolving Credit Facility Fee. (a) Revolving Credit Facility Fee. From the date hereof to the Revolving Credit Maturity Date, the Company shall pay to the Agent, for distribution to the Banks (as set forth below), a Revolving Credit Facility Fee determined by multiplying the Applicable Fee Percentage per annum times the Revolving Credit Maximum Amount then applicable under Section 3.15 2.15 hereof (whether used or unused), computed on a daily basis. The Revolving Credit Facility Fee shall be payable quarterly in arrears commencing January July 1, 1997 2003 (in respect of the prior calendar quarter or portion thereof), and on the first day of each calendar quarter thereafter and on the Revolving Credit Maturity Date, and shall be computed on the basis of a year of three hundred sixty (360) days and assessed for the actual number of days elapsed. Whenever any payment of the Revolving Credit Facility Fee shall be due on a day which is not a Business Day, the date for payment thereof shall be extended to the next Business Day. Upon receipt of such payment Agent shall make prompt payment to each Bank of its share of the Revolving Credit Facility Fee based upon its respective Percentage.

Appears in 1 contract

Samples: Credit Agreement (Credit Acceptance Corporation)

Revolving Credit Facility Fee. From the date hereof Effective Date to the Revolving Credit Maturity Date, the Company shall pay to the Agent, for distribution to the Agent on behalf of Banks (as set forth below), a Revolving Credit Facility Fee determined by multiplying the Applicable Fee Percentage per annum times the Revolving Credit Maximum Amount then applicable under Section 3.15 hereof (whether used or unused), computed on a daily basis. The Revolving Credit Facility Fee shall be payable quarterly in arrears commencing January October 1, 1997 1999 (in respect of the prior calendar fiscal quarter or portion thereof), and on the first day of each calendar fiscal quarter thereafter and thereafter. The Revolving Credit Facility Fee shall be the sum of the one quarter of one percent (3%) per annum multiplied by Revolving Credit Aggregate Commitment (whether used or unused) then in effect without giving effect to any reductions therein based on the amount of the Environmental Reserve, computed on a daily basis. The Revolving Credit Maturity Date, and Facility Fee shall be computed on the basis of a year of three hundred sixty (360) days and assessed for the actual number of days elapsed. Whenever any payment of the Revolving Credit Facility Fee shall be due on a day which is not a Business Day, the date for payment thereof shall be extended to the next Business Day. Upon receipt of such payment payment, Agent shall make prompt payment to each Bank of its share of the Revolving Credit Facility Fee based upon its respective Percentage.its

Appears in 1 contract

Samples: Revolving Credit Agreement (Meadowbrook Insurance Group Inc)

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Revolving Credit Facility Fee. From the date hereof to the Revolving Credit Maturity Date, the Company shall pay to the Agent, for distribution to the Banks (as set forth below), a Revolving Credit Facility Fee determined by multiplying the Applicable Fee Percentage per annum times the Revolving Credit Maximum Amount then applicable under Section 3.15 2.15 hereof (whether used or unused), computed on a daily basis. The Revolving Credit Facility Fee shall be payable quarterly in arrears commencing January April 1, 1997 2006 (in respect of the prior calendar quarter or portion thereof), and on the first day of each calendar quarter thereafter and on the Revolving Credit Maturity Date, and shall be computed on the basis of a year of three hundred sixty (360) days and assessed for the actual number of days elapsed. Whenever any payment of the Revolving Credit Facility Fee shall be due on a day which is not a Business Day, the date for payment thereof shall be extended to the next Business Day. Upon receipt of such payment Agent shall make prompt payment to each Bank of its share of the Revolving Credit Facility Fee based upon its respective Percentage.

Appears in 1 contract

Samples: Credit Agreement (Credit Acceptance Corporation)

Revolving Credit Facility Fee. From the date hereof Effective Date to the Revolving Credit Maturity Date, the Company shall pay to the Agent, for distribution to the Banks Lenders (as set forth below), a Revolving Credit Facility Fee determined by multiplying the Applicable Fee Percentage per annum times the Revolving Credit Maximum Amount Aggregate Commitment then applicable under Section 3.15 2.15 hereof (whether used or unused), ) computed on a daily basis. The Revolving Credit Facility Fee shall be payable quarterly in arrears commencing January April 1, 1997 1998 (in respect of the prior calendar quarter or portion thereof), and on the first day of each calendar quarter thereafter and on the Revolving Credit Maturity Date, and shall be computed on the basis of a year of three hundred sixty (360) days and assessed for the actual number of days elapsed. Whenever any payment of the Revolving Credit Facility Fee shall be due on a day which is not a Business Day, the date for payment thereof shall be extended to the next Business Day. Upon receipt of such payment Agent shall make prompt payment to each Bank Lender of its share of the Revolving Credit Facility Fee based upon its respective Percentage.

Appears in 1 contract

Samples: Term Revolving Credit Agreement (Vishay Intertechnology Inc)

Revolving Credit Facility Fee. From the date hereof to the Revolving Credit Maturity Date, the Company shall pay to the Agent, for distribution to the Banks (as set forth below), a Revolving Credit Facility Fee determined by multiplying the Applicable Fee Percentage per annum times the Revolving Credit Maximum Amount then applicable under Section 3.15 2.15 hereof (whether used or unused), computed on a daily basis. The Revolving Credit Facility Fee shall be payable quarterly in arrears commencing January July 1, 1997 1999 (in respect of the prior calendar quarter or portion thereof), and on the first day of each calendar quarter thereafter and on the Revolving Credit Maturity Date, and shall be computed on the basis of a year of three hundred sixty (360) days and assessed for the actual number of days elapsed. Whenever any payment of the Revolving Credit Facility Fee shall be due on a day which is not a Business Day, the date for payment thereof shall be extended to the next Business Day. Upon receipt of such payment Agent shall make prompt payment to each Bank of its share of the Revolving Credit Facility Fee based upon its respective Percentage.

Appears in 1 contract

Samples: Credit Agreement (Credit Acceptance Corporation)

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