Common use of Ticking Fees Clause in Contracts

Ticking Fees. The Borrower agrees to pay to each Lender a ticking fee equal to the ticking fee rate (the “Ticking Fee Rate”) as set forth in Section 2.3(f) (computed on the basis of the actual number of days elapsed in a year of 365 or 366 days, as the case may be) on the undrawn amount of each Lender’s Term Loan Commitment, commencing upon the later of (x) the execution and delivery of this Agreement and (y) March 14, 2021, which ticking fees shall be payable quarterly in arrears (i) on the last Business Day of each March, June, September and December and (ii) on the earlier of (x) the third Closing Date and (y) the date on which the Commitments terminate.

Ticking Fees. The Borrower agrees to pay to each Lender a ticking fee equal to the ticking fee rate (the “Ticking Fee Rate”) as set forth in Section 2.3(f) (computed on the basis of the actual number of days elapsed in a year of 365 or 366 days, as the case may be) on the undrawn amount of each Lender’s Term Loan Commitment, commencing upon the later of (x) the execution and delivery of this Agreement and (y) March 14January 13, 20212022, which ticking fees shall be payable quarterly in arrears (i) on the last Business Day of each March, June, September and December and (ii) on the earlier of (x) the third Closing Date and (y) the date on which the Commitments terminate.