Common use of Standby Fee Clause in Contracts

Standby Fee. Cascades must pay to each Revolving Lender, through the Administrative Agent, a standby fee on the unused portion of such Revolving Lender’s Commitment. The standby fee will be calculated daily from the most recent date on which it has been paid under the Initial Credit Agreement. The stand-by fee will be calculated for any day at the Applicable Rate and will be payable quarterly in arrears on the first Business Day of the following quarter.

Standby Fee. Cascades must pay to each Revolving Lender, through the Administrative Agent, a standby fee on the unused portion of such Revolving Lender’s Commitment. The standby fee will be calculated daily from the most recent date on which it has been paid under the Initial Credit Agreement. The stand-by fee will be calculated for any day at the Applicable Rate and will be payable quarterly in arrears on the first Business Day of the following quarter.