Common use of The Facility Fee Clause in Contracts

The Facility Fee. In consideration of the Loan, from and after the date of this Agreement up to and including the Availability Date, the Borrower shall pay the Lender a facility fee of one-half of one percent (0.5%) on the average daily Borrowing Availability during each fiscal quarter or portion thereof. This facility fee shall be payable, without demand, on the last day of each March, June, September and December, commencing June 30, 1996. The Borrower shall make payment of the facility fee by wire transfer, certified check or by authorizing the Lender to withdraw readily available funds from the Operating Account.

The Facility Fee. In consideration of the Loan, from and after the date of this Agreement up to and including the Availability Date, the Borrower shall pay the Lender a facility fee of one-half quarter of one percent (0.50.25%) on the average daily Borrowing Availability during each fiscal quarter or portion thereof. This The facility fee shall be payable, without demand, on the last day of each March, June, September and December, fiscal quarter commencing June 30, 19961997. The Borrower shall make payment of the facility fee by wire transfer, certified check or by authorizing the Lender to withdraw readily available funds from the Operating Account.