Unused Commitment Fee. On the first Business Day of each calendar quarter and on and until the date upon which the Obligations are paid in full, Borrowers shall pay to Agent in arrears an unused commitment fee (the “Unused Commitment Fee”) for the account of each Lender in an amount equal to: (i) the excess of (A) the average daily balance of the Revolving Commitment of such Lender during the preceding calendar quarter over (B) the sum of (1) the average daily balance of all Revolving Loans held by such Lender, (2) the average daily amount of Letter of Credit Obligations held by such Lender, and (3) in the case of the Swingline Lender, the average daily balance of all outstanding Swing Loans held by such Swingline Lender, in each case, during the preceding calendar quarter; provided, that in no event shall the amount computed pursuant to clauses (1) and (2) above with respect to the Swingline Lender be less than zero, multiplied by (ii) (A) if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is equal to or greater than 50% of the average daily Maximum Availability during the preceding calendar quarter, then 0.25% per annum or (B) if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is less than 50% of the average daily Maximum Availability during the preceding calendar quarter, then 0.50% per annum. The total Unused Commitment Fees payable by Borrowers on each such date will be equal to the sum of all of the Unused Commitment Fees due to the Lenders on such date, subject to Section 1.18(f).
Appears in 2 contracts
Sources: Credit Agreement (Jakks Pacific Inc), Credit Agreement (Jakks Pacific Inc)
Unused Commitment Fee. On the first Business Day of each calendar quarter and on and until the date upon which the Obligations are paid in full, Borrowers The Borrower shall pay to Agent in arrears an unused commitment a fee (the “Unused Commitment Fee”) for the account of each Lender in an amount equal to: :
(i) the excess of (A) the average daily balance balances of the Revolving Loan Commitment of such Lender during the preceding calendar quarter over month, less
(Bii) the sum of (1x) the average daily balance of all Revolving Loans held by such Lender, Lender plus (2y) the average daily amount of Letter of Credit Obligations held by such Lender, and plus (3z) in the case of the Swingline Lender, the average daily balance of all outstanding Swing Loans held by such Swingline Lender, in each case, during the preceding calendar quartermonth; provided, that in no event shall the amount computed pursuant to clauses (1i) and (2ii) above with respect to the Swingline Lender be less than zero, ,
(iii) multiplied by (ii) (A) if the applicable percentage per annum listed below corresponding to the average unused daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is Loan Commitment: Greater than or equal to 66 2/3% 0.50 % Greater than or greater than 50equal to 33 1/3% of the average daily Maximum Availability during the preceding calendar quarter, then 0.25% per annum or (B) if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is but less than 5066 2/3% of the average daily Maximum Availability during the preceding calendar quarter, then 0.500.375 % per annum. Less than 33 1/3% 0.25 % The total Unused Commitment Fees payable fee paid by Borrowers on each such date the Borrower will be equal to the sum of all of the Unused Commitment Fees fees due to the Lenders on such dateLenders, subject to Section 1.18(f1.11(e)(vi). Such fee shall be payable monthly in arrears on the first day of each calendar month following the date hereof. The Unused Commitment Fee 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.
Appears in 1 contract
Unused Commitment Fee. On the first Business Day of each calendar quarter and on and until the date upon which the Obligations are paid in full, The Borrowers shall pay to Agent in arrears an unused commitment a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender other than any Non-Funding Lender in an amount equal to: :
(i) the excess of (A) the average daily balance balances of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quarter over month, less
(Bii) the sum of (1x) the average daily balance of all Revolving Loans held by such Revolving Lender plus (y) such Lender, (2) ’s Commitment Percentage of the average daily amount of Letter of Credit Obligations held by such LenderObligations, and plus (3z) in the case of the Swingline Swing Line Lender, the average daily balance of all outstanding Swing Loans held by such Swingline Swing Line Lender, in each case, during the preceding calendar quartermonth; provided, that in no event shall the amount computed pursuant to clauses (1i) and (2ii) above with respect to the Swingline Lender be less than zero, ,
(iii) multiplied by (iix) three-quarters of one percent (A0.75%) per annum if the average daily balance sum of the aggregate of all outstanding Revolving Loansclauses (ii)(x), Letter of Credit Obligations (y) and Swing Loans is equal to or greater than 50% of the average daily Maximum Availability during the preceding calendar quarter, then 0.25% per annum or (Bz) if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans above is less than or equal to fifty percent (50% %) of the average daily Maximum Availability during Revolving Loan Commitment of such Revolving Lender as of the preceding calendar quarterlast day of such month, then or (y) one-half of one percent (0.50% %), per annumannum if the sum of clauses (ii)(x), (y) and (z) above is greater than fifty percent (50%) of the Revolving Loan Commitment as of the last day of such month. Table of Contents The total Unused Commitment Fees payable fee paid by the Borrowers on each such date will be equal to the sum of all of the Unused Commitment Fees fees due to the Lenders on such dateLenders, subject to Section 1.18(fsubsection 1.11(e)(vi). Such fee shall be payable monthly in arrears on the first day of the calendar month following the date hereof and the first day of each calendar month thereafter. The Unused Commitment Fee provided in this subsection 1.9(b) shall accrue at all times from and after the execution and delivery of this Agreement until the Final Availability Date. For purposes of this subsection 1.9(b), the Revolving Loan Commitment of any Non-Funding Lender shall be deemed to be zero.
Appears in 1 contract
Unused Commitment Fee. On the first Business Day of each calendar quarter and on and until the date upon which the Obligations are paid in full, The Borrowers shall pay to Administrative Agent in arrears an unused commitment a fee (the “Unused Commitment Fee”) for the account of each Lender day in an amount equal to: :
(i) the excess of Aggregate Revolving Loan Commitment for such day, less
(Aii) the average daily balance Revolving Loan Commitment for such day of the Revolving Commitment of such Lender during the preceding calendar quarter over any Non-Funding Lender, less
(Biii) the sum of (1x) the average daily balance of all Revolving Loans held by such Lender, outstanding plus (2y) the average daily Swing Loans outstanding plus (z) the amount of Letter of Credit Obligations held by such Lender, and (3) in the case of the Swingline Lender, the average daily balance of all outstanding Swing Loans held by such Swingline LenderObligations, in each case, during the preceding calendar quarter; provided, that in no event shall the amount computed pursuant to clauses (1) and (2) above with respect to the Swingline Lender be less than zerocase for such day, multiplied by (ii) (A) 0.75% per annum if the then applicable Utilization is less than 50% and (B) 0.50% per annum if the then applicable Utilization is greater than or equal to 50%. Such fee shall be payable monthly in arrears on the first day of the calendar month following the date hereof and the first day of each calendar month thereafter. The Unused Commitment Fee provided in this subsection 1.9(b) shall accrue at all times from and after mutual execution and delivery of this Agreement. Following receipt of the Unused Commitment Fee, Administrative Agent shall pay to each Revolving Lender (other than the Swingline Lender with respect to any Swing Loans, and other than any Non-Funding Lender from and after the date such Lender became a Non-Funding Lender and regardless of whether such Non-Funding Lender’s Commitment has been terminated) from, and to the extent of, the Unused Commitment Fee and interest received by it on the Swing Loans an amount equal to its pro rata share of the Unused Commitment Fee calculated as if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is equal to or greater than 50% of the average daily Maximum Availability during for the preceding calendar quarter, then 0.25% per annum or (B) if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is less than 50% of the average daily Maximum Availability during the preceding calendar quarter, then 0.50% per annum. The total Unused Commitment Fees payable by Borrowers on each such date will be equal to the sum of all of the Unused Commitment Fees due to the Lenders on such date, subject to Section 1.18(f)month had been zero.
Appears in 1 contract
Unused Commitment Fee. On the first Business Day of each calendar quarter and on and until the date upon which the Obligations are paid in full, Borrowers The Borrower shall pay to Agent in arrears an unused commitment a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender in an amount equal to: :
(i) the excess of (A) the average daily balance balances of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quarter over month, less
(Bii) the sum of (1x) the average daily balance of all Revolving Loans held by such Lender, Revolving Lender plus (2y) the average daily amount of Letter of Credit Obligations held by such Revolving Lender, and plus (3z) in the case of the Swingline Swing Line Lender, the average daily balance of all outstanding Swing Loans held by such Swingline Swing Line Lender, in each case, during the preceding calendar quartermonth; provided, that in no event shall the amount computed pursuant to clauses (1i) and (2ii) above with respect to the Swingline Lender be less than zero, ,
(iii) multiplied by one half of one percent (ii0.50%) (A) if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is equal to or greater than 50% of the average daily Maximum Availability during the preceding calendar quarter, then 0.25% per annum or (B) if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is less than 50% of the average daily Maximum Availability during the preceding calendar quarter, then 0.50% per annum. The total Unused Commitment Fees payable fee paid by Borrowers on each such date the Borrower will be equal to the sum of all of the Unused Commitment Fees fees due to the Lenders on such dateLenders, subject to Section 1.18(fsubsection 1.11(e)(vi). Such fee shall be payable monthly in arrears on the first day of the calendar month following the date hereof and the first day of each calendar month thereafter. The Unused Commitment Fee provided in this subsection 1.9(b) shall accrue at all times from and after the execution and delivery of this Agreement. For purposes of this subsection 1.9(b), the Revolving Loan Commitment of any Non-Funding Lender shall be deemed to be zero.
Appears in 1 contract
Sources: Credit Agreement (Unisys Corp)
Unused Commitment Fee. On the first Business Day of each calendar quarter and on and until the date upon which the Obligations are paid in full, Borrowers The Borrower shall pay to Agent in arrears an unused commitment a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender in an amount equal to: (i) the excess of :
(A) the average daily balance balances of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quarter over month, less
(B) the sum of (1x) the average daily balance of all Revolving Loans held by such Lender, Revolving Lender plus (2y) the average daily amount of Letter of Credit Obligations held by such Revolving Lender, and plus (3z) in the case of the Swingline Lender, the average daily balance of all outstanding Swing Loans held by such Swingline Lender, in each case, during the preceding calendar quartermonth; provided, that in no event shall the amount computed pursuant to clauses (1A) and (2B) above with respect to the Swingline Lender be less than zero, ,
(C) multiplied by (ii) (A) if the applicable percentage per annum listed below corresponding to the average unused daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is Loan Commitment: Greater than or equal to 66 2/3% 0.50 % Greater than or greater than 50equal to 33 1/3% of the average daily Maximum Availability during the preceding calendar quarter, then 0.25% per annum or (B) if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is but less than 5066 2/3% of the average daily Maximum Availability during the preceding calendar quarter, then 0.500.375 % per annum. Less than 33 1/3% 0.25 % The total Unused Commitment Fees payable Fee paid by Borrowers on each such date the Borrower will be equal to the sum of all of the Unused Commitment Fees fees due to the Lenders on such dateLenders, subject to Section 1.18(f1.11(e)(vi). Such Unused Commitment Fee shall be payable monthly in arrears on the first day of each calendar month following the date hereof. The Unused Commitment Fee 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.
Appears in 1 contract
Unused Commitment Fee. On the first Business Day of each calendar quarter and on and until the date upon which the Obligations are paid in full, The Borrowers shall pay to Administrative Agent in arrears an unused commitment a fee (the “Unused Commitment Fee”) for the account of each Lender day in an amount equal to: :
(i) the excess of Aggregate Revolving Loan Commitment for such day, less
(Aii) the average daily balance Revolving Loan Commitment for such day of the Revolving Commitment of such Lender during the preceding calendar quarter over any Non-Funding Lender, less
(Biii) the sum of (1x) the average daily balance of all Revolving Loans held by such Lender, outstanding plus (2y) the average daily Swing Loans outstanding plus (z) the amount of Letter of Credit Obligations held by such Lender, and (3) in the case of the Swingline Lender, the average daily balance of all outstanding Swing Loans held by such Swingline LenderObligations, in each case, during the preceding calendar quarter; provided, that in no event shall the amount computed pursuant to clauses (1) and (2) above with respect to the Swingline Lender be less than zerocase for such day, multiplied by (ii) (A) 0.50% per annum if the then applicable Utilization is less than 50% and (B) 0.375% per annum if the then applicable Utilization is greater than or equal to 50%. Such fee shall be payable monthly in arrears on the first day of the calendar month following the date hereof and the first day of each calendar month thereafter. The Unused Commitment Fee provided in this subsection 1.9(b) shall accrue at all times from and after mutual execution and delivery of this Agreement. Following receipt of the Unused Commitment Fee, Administrative Agent shall pay to each Revolving Lender (other than the Swingline Lender with respect to any Swing Loans, and other than any Non-Funding Lender from and after the date such Lender became a Non-Funding Lender and regardless of whether such Non-Funding Lender’s Commitment has been terminated) from, and to the extent of, the Unused Commitment Fee and interest received by it on the Swing Loans an amount equal to its pro rata share of the Unused Commitment Fee calculated as if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is equal to or greater than 50% of the average daily Maximum Availability during for the preceding calendar quarter, then 0.25% per annum or (B) if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is less than 50% of the average daily Maximum Availability during the preceding calendar quarter, then 0.50% per annum. The total Unused Commitment Fees payable by Borrowers on each such date will be equal to the sum of all of the Unused Commitment Fees due to the Lenders on such date, subject to Section 1.18(f)month had been zero.
Appears in 1 contract
Sources: Revolving Credit Agreement (Georgia Gulf Corp /De/)
Unused Commitment Fee. On the first Business Day of each calendar quarter and on and until the date upon which the Obligations are paid in full, Borrowers The Borrower shall pay to Agent in arrears an unused commitment a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender in an amount equal to:
(i) the excess of (A) the average daily balance of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quarter over quarter, less
(Bii) the sum of (1x) the average daily balance of all Revolving Loans held by such Lender, Revolving Lender plus (2y) the average daily amount of Letter of Credit Obligations held by such Revolving Lender, and plus (3z) in the case of the Swingline Lender, the average daily balance of all outstanding Swing Loans held by such Swingline Lender, in each case, during the preceding calendar quarter; provided, that in no event shall the amount computed pursuant to clauses (1i) and (2ii) above with respect to the Swingline Lender be less than zero, ,
(iii) multiplied by one half of one percent (ii0.50%) (A) if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is equal to or greater than 50% of the average daily Maximum Availability during the preceding calendar quarter, then 0.25% per annum or (B) if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is less than 50% of the average daily Maximum Availability during the preceding calendar quarter, then 0.50% per annum. The total Unused Commitment Fees payable Fee paid by Borrowers on each such date the Borrower will be equal to the sum of all of the Unused Commitment Fees due to the Lenders on such dateLenders, subject to Section 1.18(fsubsection 1.11(e)(vi). Such fee shall be payable quarterly in arrears on the first day of the calendar quarter following the date hereof and the first day of each calendar quarter thereafter. The Unused Commitment Fee provided in this subsection 1.9(b) shall accrue at all times from and after the execution and delivery of this Agreement.
Appears in 1 contract
Sources: Credit Agreement (Metropolitan Health Networks Inc)
Unused Commitment Fee. On the first Business Day of each calendar quarter month following the date hereof and on and until the date upon which the Obligations are paid in full, Borrowers shall pay to Agent in arrears an unused commitment fee (the “Unused Commitment Fee”) for the account of each Revolving Lender in an amount equal to: (i) the excess of the (A) the average daily balance of the Revolving Commitment of such Revolving Lender during the preceding calendar quarter month over (B) the sum of (1) the average daily balance of all Revolving Loans held by such Revolving Lender, (2) the average daily amount of Letter of Credit Obligations held by such Revolving Lender, and (3) in the case of the Swingline Lender, the average daily balance of all outstanding Swing Loans held by such Swingline Lender, in each case, during the preceding calendar quartermonth; providedprovided that, that in no event shall the amount computed pursuant to clauses (1) and (2) above with respect to the Swingline Lender be less than zero, multiplied by (ii) (A) if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is equal to or greater than 50% of the average daily Maximum Availability during the preceding calendar quarter, then 0.25% per annum or (B) if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is less than 50% of the average daily Maximum Availability during the preceding calendar quarter, then 0.50% per annum. The total Unused Commitment Fees payable by Borrowers on each such date will be equal to the sum of all of the Unused Commitment Fees due to the Lenders on such date, subject to Section 1.18(f).
Appears in 1 contract
Unused Commitment Fee. On each Quarterly Date from and after the first Business Day of each calendar quarter and on Effective Date and until the date upon which earlier of (X) the Obligations are paid in fullCredit Rating Election Date, Borrowers shall or (Y) the Revolving Maturity Date, Borrower agrees to pay to Administrative Agent for the account of each Revolving Lender (other than the Swingline Lender in arrears its capacity as such), in arrears, an unused commitment fee (the “Unused Commitment Fee”) for ), which shall be equal to the account of each Lender in an amount equal to: following:
(i) the excess of The product of:
(A) the average daily balance unused amount of the Revolving Loan Commitment of such Revolving Lender (excluding amounts drawn for these purposes and any amounts drawn as Swingline Loans) for each day during the preceding calendar quarter over in which such Quarterly Date or Revolving Maturity Date falls, and
(B) the sum a rate per annum, for each such day, of (1i) 0.15% if the average daily balance unused amounts of the Revolving Loan Commitments of all Revolving Loans held by Lenders on such Lender, day represents a total Revolving Credit Exposure of all Revolving Lenders equal to or in excess of fifty percent (250%) the average daily amount of Letter of Credit Obligations held by such Lender, and (3) in the case of the Swingline Lender, the average daily balance of all outstanding Swing Loans held by such Swingline Lender, in each case, during the preceding calendar quarter; provided, that in no event shall the amount computed pursuant to clauses (1) and (2) above with respect to the Swingline Lender be less than zero, multiplied by total Revolving Loan Commitments or (ii) (A) 0.25% if the average daily balance unused amounts of the aggregate Revolving Loan Commitments of all outstanding Revolving Loans, Letter of Lenders on such day represents a total Revolving Credit Obligations and Swing Loans is equal to or greater than 50% of the average daily Maximum Availability during the preceding calendar quarter, then 0.25% per annum or (B) if the average daily balance of the aggregate Exposure of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans Lenders that is less than fifty percent (50% %) of the average daily Maximum Availability during the preceding calendar quarter, then 0.50% per annum. The total Unused Commitment Fees payable by Borrowers on each such date will be equal to the sum of all of the Unused Commitment Fees due to the Lenders on such date, subject to Section 1.18(f)Revolving Loan Commitments.
Appears in 1 contract
Unused Commitment Fee. On the first Business Day of each calendar quarter and on and until the date upon which the Obligations are paid in full, Borrowers (i) Borrower shall pay to Agent in arrears an unused commitment a fee (the “Unused Revolving Commitment Fee”) for the account of each Revolving Lender in an amount equal to:
(i) the excess of (A1) the average daily balance of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quarter over Fiscal Quarter, less
(B2) the sum of (1) the average daily balance of all Revolving Loans held by such Lender, Revolving Lender plus (2y) the average daily amount of Letter of Credit Obligations held by such Lender, and Revolving Lender plus (3z) in the case of the Swingline Lender, the average daily balance of all outstanding Swing Swingline Loans held by such Swingline Lender, in each case, during the preceding calendar quarterFiscal Quarter; provided, that in no event shall the amount computed pursuant to clauses (1) and (2) above with respect to the Swingline Lender be less than zero, ;
(3) multiplied by one-half of one percent (0.50%) per annum.
(ii) Borrower shall pay to Agent a fee (Athe “Unused CAPEX Commitment Fee”) if for the account of each CAPEX Lender in an amount equal to
(1) the average daily balance of the aggregate Available CAPEX Loan Balance of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is equal to or greater than 50% of the average daily Maximum Availability such CAPEX Lender during the preceding calendar quarter, then 0.25% per annum or Fiscal Quarter,
(B2) if the average daily balance multiplied by three-quarters of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is less than 50% of the average daily Maximum Availability during the preceding calendar quarter, then 0.50% one percent (0.75%) per annum. The total Unused Revolving Commitment Fees payable Fee and Unused CAPEX Commitment Fee paid by Borrowers on each such date Borrower will be equal to the sum of all of the Unused Revolving Commitment Fees and Unused CAPEX Commitment Fees due to the Lenders on such dateLenders, subject to Section 1.18(f1.11(e)(vi). Such fee shall be payable quarterly in arrears on the first day of the Fiscal Quarter following the date hereof and the first day of each Fiscal Quarter thereafter. The Unused Revolving Commitment Fee and Unused CAPEX Commitment Fee provided in this Section 1.9(b) shall accrue at all times from and after the Closing Date.
Appears in 1 contract
Unused Commitment Fee. On the first Business Day of each calendar quarter and on and until the date upon which the Obligations are paid in full, Borrowers The Borrower shall pay to Agent in arrears an unused commitment a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender (other than any Non-Funding Lender) in an amount equal to:
(i) the excess of (A) the average daily balance of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quarter over quarter, less
(Bii) the sum of (1x) the average daily balance of all Revolving Loans held by such Lender, Revolving Lender plus (2y) the average daily amount of Letter of Credit Obligations held by such Revolving Lender, and plus (3z) in the case of the Swingline Lender, the average daily balance of all outstanding Swing Loans held by such Swingline Lender, in each case, during the preceding calendar quarter; provided, that in no event shall the amount computed pursuant to clauses (1i) and (2ii) above with respect to the Swingline Lender be less than zero, ,
(iii) multiplied by one-half percent (ii0.50%) (A) if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is equal to or greater than 50% of the average daily Maximum Availability during the preceding calendar quarter, then 0.25% per annum or (B) if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is less than 50% of the average daily Maximum Availability during the preceding calendar quarter, then 0.50% per annum. The total Unused Commitment Fees payable Fee paid by Borrowers on each such date the Borrower will be equal to the sum of all of the Unused Commitment Fees due to the Lenders on such dateLenders, subject to Section 1.18(fsubsection 1.11(e)(vi). Such fee shall be payable quarterly in arrears on the first day of each calendar quarter following the date hereof and on the Revolving Termination Date. The Unused Commitment Fee provided in this subsection 1.9(b) shall accrue at all times from and after the execution and delivery of this Agreement through the Revolving Termination Date.
Appears in 1 contract
Sources: Credit Agreement (Affymetrix Inc)
Unused Commitment Fee. On the first Business Day of each calendar quarter and on and until the date upon which the Obligations are paid in full, The Borrowers shall pay to Agent in arrears an unused commitment a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender other than any Non-Funding Lender in an amount equal to: :
(i) the excess of (A) the average daily balance balances of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quarter over month, less
(Bii) the sum of (1x) the average daily balance of all Revolving Loans held by such Revolving Lender plus (y) such Lender, (2) ’s Commitment Percentage of the average daily amount of Letter of Credit Obligations held by such LenderObligations, and plus (3z) in the case of the Swingline Swing Line Lender, the average daily balance of all outstanding Swing Loans held by such Swingline Swing Line Lender, in each case, during the preceding calendar quartermonth; provided, that in no event shall the amount computed pursuant to clauses (1i) and (2ii) above with respect to the Swingline Lender be less than zero, ,
(iii) multiplied by (iix) one-half of one percent (A0.50%) per annum if the average daily balance sum of the aggregate of all outstanding Revolving Loansclauses (ii)(x), Letter of Credit Obligations (y) and Swing Loans is equal to or greater than 50% of the average daily Maximum Availability during the preceding calendar quarter, then 0.25% per annum or (Bz) if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans above is less than or equal to fifty percent (50% %) of the average daily Maximum Availability during Revolving Loan Commitment of such Revolving Lender as of the preceding calendar quarterlast day of such month, then 0.50% or (y) three-eighths of one percent (0.375%), per annumannum if the sum of clauses (ii)(x), (y) and (z) above is greater than fifty percent (50%) of the Revolving Loan Commitment as of the last day of such month. The total Unused Commitment Fees payable fee paid by the Borrowers on each such date will be equal to the sum of all of the Unused Commitment Fees fees due to the Lenders on such dateLenders, subject to Section 1.18(fsubsection 1.11(e)(vi). Such fee shall be payable monthly in arrears on the first day of the calendar month following the date hereof and the first day of each calendar month thereafter. The Unused Commitment Fee provided in this subsection 1.9(b) shall accrue at all times from and after the execution and delivery of this Agreement until the Final Availability Date. For purposes of this subsection 1.9(b), the Revolving Loan Commitment of any Non-Funding Lender shall be deemed to be zero.
Appears in 1 contract
Unused Commitment Fee. On July 1, 2014, on the first Business Day of each calendar quarter thereafter, and on and until the date upon which the Obligations are paid in full, Borrowers shall pay to Agent in arrears an unused commitment fee (the “Unused Commitment Fee”) for the account of each Lender in an amount equal to: (i) the excess of the (A) the average daily balance of the Revolving Commitment of such Lender during the preceding calendar quarter over (B) the sum of (1) the average daily balance of all Revolving Loans held by such Lender, (2) the average daily amount of Letter of Credit Obligations held by such Lender, and (3) in the case of the Swingline Lender, the average daily balance of all outstanding Swing Loans held by such Swingline Lender, in each case, during the preceding calendar quarter; provided, that in no event shall the amount computed pursuant to clauses (1) and (2) above with respect to the Swingline Lender be less than zero, multiplied by (ii) (A) if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is equal to or greater than 50% of the average daily Maximum Availability during the preceding calendar quarter$50,000,000, then 0.250.385% per annum or (B) if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is equal to or less than 50% of the average daily Maximum Availability during the preceding calendar quarter$50,000,000, then 0.500.625% per annum. The total Unused Commitment Fees payable by Borrowers on each such date will be equal to the sum of all of the Unused Commitment Fees due to the Lenders on such date, subject to Section 1.18(f).
Appears in 1 contract
Sources: Credit Agreement (Jakks Pacific Inc)
Unused Commitment Fee. On the first Business Day of each calendar quarter and on and until the date upon which the Obligations are paid in full, (i) Borrowers shall pay to Agent in arrears an unused commitment a fee (the “Unused Revolving Commitment Fee”) for the account of each Revolving Lender in an amount equal to:
(i) the excess of (A1) the average daily balance of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quarter over Fiscal Quarter, less
(B2) the sum of (1) the average daily balance of all Revolving Loans held by such Lender, Revolving Lender plus (2y) the average daily amount of Letter of Credit Obligations held by such Lender, and Revolving Lender plus (3z) in the case of the Swingline Lender, the average daily balance of all outstanding Swing Swingline Loans held by such Swingline Lender, in each case, during the preceding calendar quarterFiscal Quarter; provided, that in no event shall the amount computed pursuant to clauses (1) and (2) above with respect to the Swingline Lender be less than zero, ;
(3) multiplied by one-half of one percent (0.50%) per annum.
(ii) Borrowers shall pay to Agent a fee (Athe “Unused CAPEX Commitment Fee”) if for the account of each CAPEX Lender in an amount equal to
(1) the average daily balance of the aggregate Available CAPEX Loan Balance of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is equal to or greater than 50% of the average daily Maximum Availability such CAPEX Lender during the preceding calendar quarter, then 0.25% per annum or Fiscal Quarter,
(B2) if the average daily balance multiplied by three-quarters of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is less than 50% of the average daily Maximum Availability during the preceding calendar quarter, then 0.50% one percent (0.75%) per annum. The total Unused Revolving Commitment Fees payable Fee and Unused CAPEX Commitment Fee paid by Borrowers on each such date will be equal to the sum of all of the Unused Revolving Commitment Fees and Unused CAPEX Commitment Fees due to the Lenders on such dateLenders, subject to Section 1.18(f1.11(e)(vi). Such fee shall be payable quarterly in arrears on the first day of the Fiscal Quarter following the date hereof and the first day of each Fiscal Quarter thereafter. The Unused Revolving Commitment Fee and Unused CAPEX Commitment Fee provided in this Section 1.9(b) shall accrue at all times from and after the Closing Date.
Appears in 1 contract
Unused Commitment Fee. On the first Business Day of each calendar quarter and on and until the date upon which the Obligations are paid in full, Borrowers The Borrower shall pay to Agent in arrears an unused commitment a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender in an amount equal to: :
(i) the excess of (A) the average daily balance balances of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quarter over month, less
(Bii) the sum of (1x) the average daily balance of all Revolving Loans held by such Lender, Revolving Lender plus (2y) the average daily amount of Letter of Credit Obligations held by or participated in by such LenderRevolving Lender in accordance with Section 1.1(c)(iv), and plus (3z) in the case of the Swingline Lender, the average daily balance of all outstanding Swing Loans held by such Swingline Lender, in each case, during the preceding calendar quartermonth; provided, that in no event shall the amount computed pursuant to clauses (1i) and (2ii) above with respect to the Swingline Lender be less than zero, ,
(iii) multiplied by one-half of one percent (ii0.50%) (A) if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is equal to or greater than 50% of the average daily Maximum Availability during the preceding calendar quarter, then 0.25% per annum or (B) if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is less than 50% of the average daily Maximum Availability during the preceding calendar quarter, then 0.50% per annum. The total Unused Commitment Fees payable fee paid by Borrowers on each such date the Borrower will be equal to the sum of all of the Unused Commitment Fees fees due to the Lenders on such dateLenders, subject to Section 1.18(fsubsection 1.11(e)(vi). Such fee shall be payable monthly in arrears on the first day of each calendar month following the date hereof. The Unused Commitment Fee provided in this subsection 1.9(b) shall accrue at all times from and after the execution and delivery of this Agreement. For purposes of this subsection 1.9(b), the Revolving Loan Commitment of any Non-Funding Lender shall be deemed to be zero.
Appears in 1 contract
Sources: Credit Agreement (Radioshack Corp)
Unused Commitment Fee. On the first Business Day of each calendar quarter and on and until the date upon which the Obligations are paid in full, Borrowers The Borrower shall pay to Agent in arrears an unused commitment a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender in an amount equal to: :
(i) the excess of (A) the average daily balance amount of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quarter over month, less
(Bii) the sum of (1x) the average daily balance of all Revolving Loans held by such Lender, Revolving Lender plus (2y) the average daily amount of Letter of Credit Obligations held by such Revolving Lender, and plus (3z) in the case of the Swingline Swing Line Lender, the average daily balance of all outstanding Swing Loans held by such Swingline Swing Line Lender, in each case, during the preceding calendar quartermonth; provided, that in no event shall the amount computed pursuant to clauses (1i) and (2ii) above with respect to the Swingline Lender be less than zero, ,
(iii) multiplied by one-half of one percent (ii0.50%) (A) if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is equal to or greater than 50% of the average daily Maximum Availability during the preceding calendar quarter, then 0.25% per annum or (B) if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is less than 50% of the average daily Maximum Availability during the preceding calendar quarter, then 0.50% per annum. The total Unused Commitment Fees payable fee paid by Borrowers on each such date the Borrower will be equal to the sum of all of the Unused Commitment Fees fees due to the Lenders on such dateLenders, subject to Section 1.18(fsubsection 1.11(e)(vi). Such fee shall be payable monthly in arrears on the first day of the calendar month following the date hereof and the first day of each calendar month thereafter. The Unused Commitment Fee provided in this subsection 1.9(b) shall accrue at all times from and after the execution and delivery of this Agreement. For purposes of this subsection 1.9(b), the Revolving Loan Commitment of any Non-Funding Lender shall be deemed to be zero.
Appears in 1 contract
Unused Commitment Fee. On the first Business Day of each calendar quarter and on and until the date upon which the Obligations are paid in full, Borrowers The Borrower shall pay to Agent in arrears an unused commitment the Administrative Agent, for the ratable benefit of the Revolving Credit Lenders, a fee (the “Unused Commitment Fee”) for the account of each Lender calculated on a daily basis in an amount equal to: :
(i) the excess of (A) the average ending daily balance of the aggregate Revolving Commitment of such Lender during the preceding calendar quarter over Credit Commitments, less
(Bii) the sum of (1) the average ending daily balance of all Revolving Loans held by such Lender, (2) the average daily amount of Letter of Credit and L/C Obligations held by such Lender, and (3) in the case of the Swingline Lender, the average daily balance of all outstanding Swing Loans held by such Swingline Lender, in for each case, day occurring during the preceding calendar quarter; provided, that in no event shall month (the amount computed pursuant difference of (i) minus (ii) is referred to clauses (1) and (2) above with respect to as the Swingline Lender be less than zero“Daily Unused Commitment”), multiplied by (iix) one percent (A1.00%) per annum for any day in which the Daily Unused Commitment is greater than 66.7% of the aggregate Revolving Credit Commitments at the end of such day, (y) three-quarters of one percent (0.75%) per annum for any day in which the Daily Unused Commitment is less than or equal to 66.7% and is greater than or equal to 33.3% of the aggregate Revolving Credit Commitments at the end of such day and (y) one-half of one percent (0.50%) per annum for any day in which the Daily Unused Commitment is less than 33.3% of the aggregate Revolving Credit Commitment at the end of such day. Such fee shall be payable monthly in arrears on the last day of the calendar month following the date hereof and the last day of each calendar month thereafter. The Unused Commitment Fee provided in this subsection 2.11(a) shall accrue at all times from and after execution and delivery of this Agreement through and including the date on which the Revolving Credit Commitments are terminated. Following receipt of the Unused Commitment Fee, the Administrative Agent shall pay to each Revolving Credit Lender from, and to the extent of, the Unused Commitment Fee an amount equal to its pro rata share calculated as if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is equal to or greater than 50% of the average daily Maximum Availability during for the preceding calendar quarter, then 0.25% per annum or (B) if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is less than 50% of the average daily Maximum Availability during the preceding calendar quarter, then 0.50% per annum. The total Unused Commitment Fees payable by Borrowers on each such date will be equal to the sum of all of the Unused Commitment Fees due to the Lenders on such date, subject to Section 1.18(f)month had been zero.
Appears in 1 contract
Sources: Credit Agreement (Medquist Inc)