Common use of Term Loan Commitment Fee Clause in Contracts

Term Loan Commitment Fee. (a) The Company must pay a commitment fee computed at the rate of 0.25 % per annum from and including the 30th day after the Signing Date for a period of 30 days and thereafter at the rate of 0.50% per annum on the undrawn, uncancelled amount of each Lender’s Total Term Loan Commitments. (b) Accrued commitment fee is payable on the First Drawdown Date and thereafter quarterly in arrears. Accrued commitment fee is also payable to the Facility Agent for a Lender on the date its Total Term Loan Commitments are cancelled in full. (c) Commitment fee accrued and paid under this Agreement in respect of the Total Term Loan Commitments is in place of any commitment fee accrued under the Commitment Letter in respect of a corresponding amount of Term Loan Commitments and the Company shall not be required to pay commitment fee for the same period under both this Agreement and the Commitment Letter.