Common use of Term Commitment Fee Clause in Contracts

Term Commitment Fee. The Borrower agrees to pay to the Agent for the ratable benefit of the Lenders a commitment fee on the average daily unused portion of the Term Commitments, from September 26, 2000 until the Term Commitment Termination Date at the rate of one half of one percent (0.50%) per annum (the "Term Commitment Fee"), payable in arrears on the last day of each calendar quarter commencing on the first such date occurring after the date of this Agreement. The Term Commitment Fee shall be calculated on the basis of a 360-day year for the actual days elapsed, and shall be non-refundable.

Term Commitment Fee. The Borrower agrees to pay to the Agent for the ratable benefit of the Lenders a commitment fee on the average daily unused portion of the Term Commitments, from September 26, 2000 the execution date of this Agreement until the Term Commitment Termination Date at the rate of one half of one percent (0.50%) per annum (the "Term Commitment Fee"), payable in arrears on the last day of each calendar quarter commencing on the first such date occurring after the date of this Agreement. The Term Commitment Fee shall be calculated on the basis of a 360-day year for the actual days elapsed, and shall be non-refundable.