Common use of Term Loan Commitment Fee Clause in Contracts

Term Loan Commitment Fee. Borrower agrees to pay to each Lender with a Term Loan Commitment, a term loan commitment fee (a “Term Loan Commitment Fee”) equal to the Applicable Commitment Fee Percentage times the unused amount of the Term Loan Commitments of such Lender. All Term Loan Commitment Fees shall be payable in arrears on the date on which the Term Loan Commitment of such Lender shall expire or be terminated as provided herein. All Term Loan Commitment Fees shall be computed on the basis of the actual number of days elapsed in a year of 360 days. The Term Loan Commitment Fee due to each Lender shall commence to accrue on the Closing Date and shall cease to accrue on the date on which the Term Loan Commitment of such Lender shall expire or be terminated as provided herein. All Fees shall be paid on the dates due, in immediately available funds, to the Administrative Agent for distribution, if and as appropriate, among the Lenders, except that the Fronting Fees shall be paid directly to the Issuing Bank. Once paid, none of the Fees shall be refundable under any circumstances.