Unused Commitment Fee Sample Clauses

Unused Commitment Fee. Accruing from the Closing Date until the Term Loan Commitment Termination Date, the Borrowers agree to pay to the Lender a nonrefundable unused commitment fee (the “Unused Commitment Fee”) equal to the Unused Commitment Fee Rate (computed on the basis of a year of 360 days and actual days elapsed) multiplied by the average daily difference between (i) the Term Loan Amount and (ii) the aggregate principal amount of Term Loans actually funded under the Term Loan Facility. All Unused Commitment Fees shall be payable quarterly in cash on the first Business Day of each calendar quarter (in arrears through the last day of the immediately preceding quarter) and on the Term Loan Commitment Termination Date. Notwithstanding the foregoing, unless a Default or Event of Default has occurred and is continuing, the Unused Commitment Fee of the Borrowers due and payable on April 3, 2023 (for the fee accruing for the quarter ending March 31, 2023) may be paid in kind (such fee, the “Specified PIK Fee”). The Specified PIK Fee shall be deemed paid and discharged, without the taking of any further action by the Borrowers, by automatically adding such Specified PIK Fee to the principal balance of the Term Loans. After such Specified PIK Fee is added to the principal balance, such Specified PIK Fee shall be treated as principal for all purposes hereunder and shall itself bear interest.

Unused Commitment Fee. The Borrower shall pay to the Agent a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender (other than Non-Funding Lenders) in an amount equal to: (i) the daily balance of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quarter, less the sum of (x) the daily balance of all Revolving Loans held by such Revolving Lender plus (y) the daily amount of Letter of Credit Obligations held by such Revolving Lender, (ii) multiplied by the Applicable Margin with respect to the Unused Commitment Fee then in effect. The total Unused Commitment Fee paid by the Borrower will be equal to the sum of all of the Unused Commitment Fees due to the respective Lenders, in each case, subject to Section 1.11(e)(vi). Such Unused Commitment Fees shall be payable quarterly in arrears on the last Business Day of each calendar quarter commencing with the calendar quarter ending on or about September 30, 2017. The Unused Commitment Fees provided in this Section 1.9(b) shall accrue at all times from and after the execution and delivery of this Agreement. For purposes of this Section 1.9(b), the Revolving Loan Commitment of any Non-Funding Lender shall be deemed to be zero, except to the extent such Revolving Loan Commitment shall have been reallocated to another Revolving Lender pursuant to and in accordance with this Agreement.

Unused Commitment Fee. In consideration of the commitment made by Lender under this Agreement, commencing on April 1, 2001 and continuing until the Revolving Loan Maturity Date, Borrower shall pay to Lender, a quarterly unused commitment fee (the "Unused Commitment Fee") equal to one-quarter of one percent (.25%) per annum of the average daily amount by which the Maximum Revolving Loan exceeds the outstanding balance of the Revolving Loan; PROVIDED, that the Unused Commitment Fee shall be subject to adjustment as provided below. If, as of the end of any Fiscal Year, Borrower's Consolidated Funded Debt to Consolidated EBITDA Ratio, for the period of such Fiscal Year falls within any of the levels listed below, then the Unused Commitment Fee applicable for the next Fiscal Year shall be adjusted, in the manner set forth below, to the applicable Unused Commitment Fee for such level listed below: Consolidated Funded Debt Applicable Unused to Consolidated EBITDA Ratio Commitment Fee ---------------------------- -------------- 1.25:1 or greater .250% Less than 1.25:1 but equal to or greater than 0.75:1 .200% Less than 0.75:1 .175% Any change to the applicable Unused Commitment Fee shall become effective as of the first (1st) day of the month after Borrower's delivery to Lender of the financial statements required to be delivered to Lender pursuant to Section 6.1(b) demonstrating to Lender's reasonable satisfaction that a change in the Unused Commitment Fee should occur. Notwithstanding anything to the contrary in the foregoing, if a Default or Event of Default shall have occurred and be continuing on the date that the Commitment Fee would otherwise adjust, then the Unused Commitment Fee shall remain or become two and one-half tenths of one percent (.25%) per annum. The Unused Commitment Fee shall be paid to Lender on (i) the first day of each calendar quarter with respect to the previous calendar quarter, and (ii) the Revolving Loan Maturity Date, with respect to the period from the last full calendar quarter through the Revolving Loan Maturity Date.

Unused Commitment Fee. Borrower agrees to pay an unused commitment fee on any difference between the Maximum Line of Credit Amount and the amount of advances under the Line of Credit, determined by the average of the daily amount of credit outstanding during the specified period. The fee will be calculated by multiplying such difference by one-quarter percent (0.25%). This fee is due on June 30, 2005, and on the last day of each following quarter until the Line of Credit has been terminated, payable in arrears. Bank may debit Borrower’s operating account to effectuate such payment.

Unused Commitment Fee. The Borrower agrees to pay a fee on any difference between the Facility No. 1 Available Amount and the amount of credit it actually uses, determined by the daily amount of credit outstanding during the specified period. The fee will be calculated at 0.125% per year. This fee is due on July 1, 2010, and on the first day of each following quarter until the expiration of the availability period.

Unused Commitment Fee. The Borrower agrees to pay to the Agent, for the account of each Lender in accordance with such Lender’s Pro Rata Share, an unused commitment fee at a per annum rate equal to the Applicable Fee Rate on the average daily Available Revolving Commitment, such fee to be payable in arrears on each Payment Date hereafter and on the Facility Termination Date (the “Unused Commitment Fee”).

Unused Commitment Fee. (a) The Borrowers agree to pay to the Administrative Agent, for the Pro Rata account of each Revolving Lender (other than any Defaulting Lender), for the period (including any portion thereof when the Revolving Loan Commitment is suspended by reason of the Borrowers’ inability to satisfy any condition of Article V) commencing on the Effective Date and continuing through the Revolving Loan Commitment Termination Date, an unused commitment fee at the rate per annum equal to 0.25% per annum on such Lender’s Percentage of the average daily unused portion of the Revolving Loan Commitment Amount. Such unused commitment fees shall be payable by the Borrowers in arrears on each Quarterly Payment Date, commencing with the first Quarterly Payment Date following the Effective Date, and on the Revolving Loan Commitment Termination Date. For purposes of calculating the unused commitment fee the making of Swing Line Loans by the Swing Line Lender shall not constitute the usage of the Revolving Loan Commitment. (b) The Borrowers agree to pay to the Administrative Agent, for the Pro Rata account of each Delayed Draw Term Lender (other than any Defaulting Lender), for the period (including any portion thereof when the Delayed Draw Term Loan Commitment is suspended by reason of the Borrowers’ inability to satisfy any condition of Article V) commencing on the Effective Date and continuing through the Delayed Draw Term Loan Commitment Termination Date, an unused commitment fee at the rate per annum equal to 0.25% per annum on such Lender’s Percentage of the average daily unused portion of the Delayed Draw Term Loan Commitment Amount. Such unused commitment fees shall be payable by the Borrowers in arrears on each Quarterly Payment Date, commencing with the first Quarterly Payment Date following the Effective Date, and on the Delayed Draw Term Loan Commitment Termination Date.

Unused Commitment Fee. The Borrowers shall pay to the Lender an unused commitment fee (the “Unused Commitment Fee”) in an amount equal to one half of one percent (.50%) times the daily average of the unadvanced amount of the Available Commitment. As used herein, “Available Commitment” means an amount equal to the lesser of (i) the Commitment or (ii) the Borrowing Base then in effect. Such Unused Commitment Fee shall be calculated on the basis of a year consisting of 360 days. The Unused Commitment Fee shall be payable quarterly in arrears on the last day of each calendar quarter beginning March 31, 2019, with the first payment being for the period from the date of this Agreement through March 31, 2019, and with the final fee payment due on the maturity date of the Note for any period then ending for which the Unused Commitment Fee shall not have been theretofore paid. In the event the maturity date of the Note occurs on any date prior to the end of such quarterly period, the Borrowers shall pay to the Lender on such maturity date, the total Unused Commitment Fee due for the period in which such maturity date occurred.

Unused Commitment Fee. The Borrower agrees to pay a fee on any difference between the Commitment and the amount of credit it actually uses, determined by the weighted average Loan balance maintained during the specified period. The fee will be calculated at 0.125% per year. This fee is due quarterly in arrears until the expiration of the Availability Period and on the Maturity Date, and shall be due and payable not later than fifteen (15) days following the rendering of an invoice therefor by the Bank.