Unused Commitment Sample Clauses
The Unused Commitment clause defines how any portion of a financial commitment, such as a loan or credit facility, that has not been drawn or utilized by the borrower is treated under the agreement. Typically, this clause outlines whether the lender may charge a fee on the undrawn amount, how the unused portion is calculated, and the timeframes involved. Its core practical function is to compensate the lender for reserving funds that the borrower has not yet accessed, thereby allocating risk and incentivizing efficient use of committed resources.
Unused Commitment. On any date of determination with respect to a Committed Lender, the excess, if any, of its Commitment over the aggregate outstanding Advances funded by such Committed Lender (after giving effect to any changes in such Commitment, any making or repayment of Advances and any purchases of Advances by such Committed Lender from its related Conduit Lender pursuant to Section 2.1(i) on such date). USBank: U.S. Bank National Association, in its individual capacity.
Unused Commitment. If the Agent does not then receive the Unpaid Amount in full, upon notice from the Agent by not later than 2:00 p.m. (Chicago time) on such day, each Liquidity Provider that has not failed to fund any part of its obligations on such day under this Section 2.1 shall pay to the Agent, by not later than 2:30 p.m. (Chicago time), its proportionate share (determined as described above) of the amount of such remaining deficiency up to the amount of its Unused Commitment. Any Liquidity Provider that fails to make a payment under this Section 2.1 on the date of a Put shall pay on demand to each other Liquidity Provider that makes a payment under this subsection (b) the amount paid by it to cover such failure, together with interest thereon, for each day from the date such payment was made until the date such other Liquidity Provider has been paid such amount in full, at a rate per annum equal to the Federal Funds Rate plus two percent (2%) per annum. In addition, without prejudice to any other rights Windmill may have under applicable law, any Liquidity Provider that has failed to transfer to the Agent under Section 2.1(a) its full Purchase Price shall pay on demand to Windmill the difference between such unpaid Purchase Price and the amount paid by other Liquidity Providers or the Agent to cover such failure, together with interest thereon, for each day from the date such Purchase Price was due until the date paid, at a rate per annum equal to the Federal Funds Rate plus two percent (2%) per annum.
Unused Commitment. With respect to any Lender as of any date of determination, the excess of (i) the Commitment then in effect for such Lender, over (ii) the then unpaid principal balance of the Note owned by such Lender as of such date of determination, after giving effect to all principal payments to be received by such Lender on such date of determination.
Unused Commitment at any time, the difference between the Commitment Amount and the aggregate principal amount of all Loan Advances made as of such time, whether or not repaid.
Unused Commitment. 11 "Voluntary Store Closing"...................................11 "
Unused Commitment. Borrower shall pay an unused commitment fee in an amount equal to .125% (on an annual basis, based on a 365-day year) of: (i) at all times prior to a Reduction Event, the difference between $50,000,000 and the daily outstanding principal balance of the Loan, and (ii) at all times after a Reduction Event, the difference between $40,000,000 and the daily outstanding principal balance of the Loan. Such fee shall be payable quarterly in arrears on the last Business Day of each calendar quarter.
Unused Commitment. BORROWER SHALL PAY TO AGENT, FOR THE BENEFIT OF BOS-EDINBURGH, AN UNUSED COMMITMENT FEE IN AN AMOUNT EQUAL TO 0.375% (ON AN ANNUAL BASIS, BASED ON THE NUMBER OF DAYS ELAPSED ON A 365-DAY YEAR) OF THE DIFFERENCE BETWEEN THE TRANCHE A COMMITMENT AND THE AVERAGE DAILY OUTSTANDING PRINCIPAL BALANCE OF THE TRANCHE A LOAN DURING THE APPLICABLE QUARTER. SUCH FEE SHALL BE PAYABLE QUARTERLY IN ARREARS ON THE LAST BUSINESS DAY OF EACH CALENDAR QUARTER. UPON THE PERMANENT REDUCTION OF THE TRANCHE A COMMITMENT IN ACCORDANCE WITH SECTION 2.3, THE UNUSED COMMITMENT FEE SHALL BE BASED UPON THE REDUCED TRANCHE A COMMITMENT.
Unused Commitment. If the Agent does not then receive the Unpaid Amount in full, upon notice from the Agent by not later than 2:00 p.m. (Chicago time) on such day, each Bank that has not failed to fund any part of its obligations on such day under this Section 3.1 shall pay to the Agent, by not later than 2:30 p.m. (Chicago time), its proportionate share (determined as described above) of the amount of such remaining deficiency up to the amount of its Unused Commitment. Any Bank that fails to make a payment under this Section 3.1 on the date of a Put shall pay on demand to each other Bank that makes a payment under this subsection (b) the amount paid by it to cover such failure, together with interest thereon, for each day from the date such payment was made until the date such other Bank has been paid such amount in full, at a rate per annum equal to the Federal Funds Rate plus two percent (2%) per annum. In addition, without prejudice to any other rights Windmill may have under applicable law, any Bank that has failed to transfer to the Agent under Section 3.1(a) its full Loan Price shall pay on demand to Windmill the difference between such unpaid Loan Price and the amount paid by other Banks or the Agent to cover such failure, together with interest thereon, for each day from the date such Loan Price was due until the date paid, at a rate per annum equal to the Federal Funds Rate plus two percent (2%) per annum.
Unused Commitment. BORROWER SHALL PAY AN UNUSED COMMITMENT FEE IN AN AMOUNT EQUAL TO .125% (ON AN ANNUAL BASIS, BASED ON A 365-DAY YEAR) OF THE DIFFERENCE BETWEEN $50,000,000 AND THE DAILY OUTSTANDING PRINCIPAL BALANCE OF THE LOAN. SUCH FEE SHALL BE PAYABLE QUARTERLY IN ARREARS ON THE LAST BUSINESS DAY OF EACH CALENDAR QUARTER.
2.5 Section 3.3(c) is hereby deleted.
Unused Commitment. At a particular date, the amount of the Total Commitment that has not been disbursed, i.e., the amount that remains available for disbursement to Borrower.