Common use of Unused Availability Fee Clause in Contracts

Unused Availability Fee. At the end of each fiscal quarter of the Borrowers, and on the Termination Date, the Borrowers shall pay to the Agent, in arrears, for the ratable benefit of the Lenders, a facility fee equal to twelve and one-half (12.5) basis points (.125%) of the first $10,000,000 of the daily unused portion of the Credit Facility for the previous quarter, and twenty-five (25) basis points (.25%) of the remaining average daily unused portion of the Credit Facility for the previous quarter. For purposes of the calculation of this fee, outstanding L/C obligations will be treated as outstanding Loans.