Common use of Unused Commitment Fee Clause in Contracts

Unused Commitment Fee. Borrower shall pay to Agent for the ratable benefit of the Lenders an unused commitment fee (the “Unused Commitment Fee”) in an amount equal to one-quarter of one percent (.25%) times the daily average of the unadvanced amount of the Commitment (i.e., the Commitment minus the Total Outstandings). 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 June 30, 2008, with the first payment being for the period from the Effective Date through June 30, 2008, and with the final fee payment due on the Maturity Date for any period then ending for which the Unused Commitment Fee shall not have been theretofore paid. In the event the Commitment terminates on any date prior to the end of any such quarterly period, Borrower shall pay to the Agent for the ratable benefit of the Lenders, on the date of such termination, the total Unused Commitment Fee due for the period in which such termination occurs. If a date for payment of the Unused Commitment Fee shall be other than a Business Day such payment shall be made on the next succeeding Business Day.

Appears in 1 contract

Samples: Credit Agreement (Parallel Petroleum Corp)

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Unused Commitment Fee. Borrower The Borrowers shall pay to Agent for the ratable benefit of the Lenders an unused commitment fee (the "Unused Commitment Fee") in an amount equal equivalent to one-quarter of one percent (.25%) the Unused Commitment Fee Rate times the daily average of the unadvanced amount of the Commitment (i.e., the Commitment minus the Total Outstandings)Commitment. 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 Business Day of each calendar quarter beginning June March 30, 2008, with the first payment being for the period from the Effective Date through June 30, 2008, and 2001 with the final fee payment due on the Maturity Date for any period then ending for which the Unused Commitment Fee shall not have been theretofore paid. In the event the Commitment terminates on any date prior to the end of any such quarterly monthly period, Borrower the Borrowers shall pay to the Agent for the ratable benefit of the Lenders, on the date of such termination, the total Unused Commitment Fee due for the period in which such termination occurs. If a date for payment of the Unused Commitment Fee shall be other than a Business Day such payment shall be made on the next succeeding Business Day.

Appears in 1 contract

Samples: Credit Agreement (3tec Energy Corp)

Unused Commitment Fee. The Borrower shall pay to Administrative Agent for the ratable benefit of the Lenders an unused commitment fee (the "Unused Commitment Fee") in an amount equal equivalent to one-quarter of one percent (.25%) the Unused Commitment Fee Rate times the daily average of the unadvanced amount of the Commitment (i.e., the Commitment minus the Total Outstandings)Commitment. 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 Business Day of each calendar quarter beginning June 30March 31, 2008, with the first payment being for the period from the Effective Date through June 30, 2008, and 2001 with the final fee payment due on the Maturity Date for any period then ending for which the Unused Commitment Fee shall not have been theretofore paid. In the event the Commitment terminates on any date prior to the end of any such quarterly monthly period, the Borrower shall pay to the Administrative Agent for the ratable benefit of the Lenders, on the date of such termination, the total Unused Commitment Fee due for the period in which such termination occurs. If a date for payment of the Unused Commitment Fee shall be other than a Business Day such payment shall be made on the next succeeding Business Day.

Appears in 1 contract

Samples: Credit Agreement (Range Resources Corp)

Unused Commitment Fee. The Borrower shall pay to Administrative Agent for the ratable benefit of the Lenders an unused commitment fee (the "Unused Commitment Fee") in an amount equal equivalent to one-quarter of one percent (.25%) the Unused Commitment Fee Rate times the daily average of the unadvanced amount of the Commitment (i.e., the Commitment minus the Total Outstandings)Commitment. 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 Business Day of each calendar quarter beginning June 3028, 2008, with the first payment being for the period from the Effective Date through June 30, 2008, and 2002 with the final fee payment due on the Maturity Date for any period then ending for which the Unused Commitment Fee shall not have been theretofore paid. In the event the Commitment terminates on any date prior to the end of any such quarterly monthly period, the Borrower shall pay to the Administrative Agent for the ratable benefit of the Lenders, on the date of such termination, the total Unused Commitment Fee due for the period in which such termination occurs. If a date for payment of the Unused Commitment Fee shall be other than a Business Day such payment shall be made on the next succeeding Business Day.

Appears in 1 contract

Samples: Credit Agreement (Range Resources Corp)

Unused Commitment Fee. Borrower The Borrowers shall pay to Agent for the ratable benefit of the Lenders an unused commitment fee (the "Unused Commitment Fee") in an amount equal equivalent to one-quarter of one percent (.25%) the Unused Commitment Fee Rate times the daily average of the unadvanced amount of the Commitment (i.e., the Commitment minus the Total Outstandings)Commitment. 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 Business Day of each calendar quarter beginning June 30December 31, 2008, with the first payment being for the period from the Effective Date through June 30, 2008, and 1999 with the final fee payment due on the Maturity Date for any period then ending for which the Unused Commitment Fee shall not have been theretofore paid. In the event the Commitment terminates on any date prior to the end of any such quarterly monthly period, Borrower the Borrowers shall pay to the Agent for the ratable benefit of the Lenders, on the date of such termination, the total Unused Commitment Fee due for the period in which such termination occurs. If a date for payment of the Unused Commitment Fee shall be other than a Business Day such payment shall be made on the next succeeding Business Day.

Appears in 1 contract

Samples: Credit Agreement (3tec Energy Corp)

Unused Commitment Fee. Borrower Borrowers shall pay to Agent for the ratable benefit of the Lenders Bank an unused commitment fee (the “Unused Commitment Fee”) in an amount equal to one-quarter one half of one percent (.25.50%) times the daily average of the unadvanced amount of the Commitment (i.e., the Commitment minus the Total Outstandings)Facility No. 1 Commitment. 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 June 30March 31, 20082009, with the first payment being for the period from the Effective Date date of this Agreement through June 30March 31, 20082009, and with the final fee payment due on the Maturity Facility No. 1 Expiration Date for any period then ending for which the Unused Commitment Fee shall not have been theretofore paid. In the event the Commitment Facility No. 1 Expiration Date terminates on any date prior to the end of any such quarterly period, Borrower Borrowers shall pay to the Agent for the ratable benefit of the Lenders, Bank on the date of such termination, the total Unused Commitment Fee due for the period in which such termination occurs. If a date for payment of the Unused Commitment Fee shall be other than a Business Day such payment shall be made on the next succeeding Business Dayoccurred.

Appears in 1 contract

Samples: Loan Agreement (Mexco Energy Corp)

Unused Commitment Fee. Borrower Borrowers shall pay to Agent Agent, for the ratable benefit of the Lenders Lenders, an unused commitment fee (the "Unused Commitment Fee") in an amount equal equivalent to one-quarter of one percent (.25%) the Applicable Margin times the daily average of the unadvanced amount sum of the Commitment (i.e., the Commitment Borrowing Base minus the Total Outstandings). 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 June 30, 2008, with the first payment being for the period from the Effective Date through June 30, 2008, and 2004 with the final fee payment due on the Maturity Date for any period then ending for which the Unused Commitment Fee shall not have been theretofore paid. In the event the Commitment terminates on any date prior to the end of any such quarterly period, Borrower Borrowers shall pay to the Agent for the ratable benefit of the Lenders, on the date of such termination, the total Unused Commitment Fee due for the period in which such termination occurs. If a date for payment of the Unused Commitment Fee shall be other than a Business Day such payment shall be made on the next succeeding Business Day.

Appears in 1 contract

Samples: Credit Agreement (Range Resources Corp)

Unused Commitment Fee. The Borrower shall pay to Agent for the ratable benefit of the Lenders an unused commitment fee (the "Unused Commitment Fee") in an amount equal equivalent to one-quarter of one percent (.25%) the Unused Commitment Fee Rate times the daily average of the unadvanced amount of the Commitment (i.e., the Commitment minus the Total Outstandings). 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 Business Day of each calendar quarter beginning June 30December 31, 2008, with the first payment being for the period from the Effective Date through June 30, 2008, and 2001 with the final fee payment due on the Maturity Date for any period then ending for which the Unused Commitment Fee shall not have been theretofore paid. In the event the Commitment terminates on any date prior to the end of any such quarterly monthly period, the Borrower shall pay to the Agent for the ratable benefit of the Lenders, on the date of such termination, the total Unused Commitment Fee due for the period in which such termination occurs. If a date for payment of the Unused Commitment Fee shall be other than a Business Day such payment shall be made on the next succeeding Business Day.

Appears in 1 contract

Samples: Credit Agreement (Exco Resources Inc)

Unused Commitment Fee. The Borrower shall pay to Agent for the ratable benefit of the Lenders an unused commitment fee (the "Unused Commitment Fee") in an amount equal equivalent to one-quarter of one percent (.25%) the Unused Commitment Fee Rate times the daily average of the unadvanced amount of the Commitment (i.e., the Commitment minus the Total Outstandings). 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 Business Day of each calendar quarter beginning June 30, 2008, with the first payment being for the period from the Effective Date through June 30, 2008, and 2001 with the final fee payment due on the Maturity Date for any period then ending for which the Unused Commitment Fee shall not have been theretofore paid. In the event the Commitment terminates on any date prior to the end of any such quarterly monthly period, the Borrower shall pay to the Agent for the ratable benefit of the Lenders, on the date of such termination, the total Unused Commitment Fee due for the period in which such termination occurs. If a date for payment of the Unused Commitment Fee shall be other than a Business Day such payment shall be made on the next succeeding Business Day.

Appears in 1 contract

Samples: Credit Agreement (Exco Resources Inc)

Unused Commitment Fee. Borrower shall pay to Agent for the ratable benefit of the Lenders an unused commitment fee (the “Unused Commitment Fee”) in an amount equal equivalent to one-quarter of one percent (.25%) the Unused Commitment Fee Rate times the daily average of the unadvanced amount sum of the Commitment (i.e., the Commitment Borrowing Base minus the Total Outstandings). 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 June 30March 31, 2008, with the first payment being for the period from the Effective Date through June 30, 2008, and 2008 with the final fee payment due on the Maturity Date for any period then ending for which the Unused Commitment Fee shall not have been theretofore paid. In the event the Commitment terminates on any date prior to the end of any such quarterly period, Borrower shall pay to the Agent for the ratable benefit of the Lenders, on the date of such termination, the total Unused Commitment Fee due for the period in which such termination occurs. If a date for payment of the Unused Commitment Fee shall be other than a Business Day such payment shall be made on the next succeeding Business Day.

Appears in 1 contract

Samples: Credit Agreement (Approach Resources Inc)

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Unused Commitment Fee. Borrower shall pay to Agent for the ratable benefit of the Lenders an unused commitment fee (the “Unused Commitment Fee”) in an amount equal equivalent to one-quarter of one percent (.25%) the Unused Commitment Fee Rate times the daily average of the unadvanced amount sum of the Commitment (i.e., the Commitment Borrowing Base minus the Total Outstandings). 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 June 30March 31, 2008, with the first payment being for the period from the Effective Date through June 30, 2008, and 2007 with the final fee payment due on the Maturity Date for any period then ending for which the Unused Commitment Fee shall not have been theretofore paid. In the event the Commitment terminates on any date prior to the end of any such quarterly period, Borrower shall pay to the Agent for the ratable benefit of the Lenders, on the date of such termination, the total Unused Commitment Fee due for the period in which such termination occurs. If a date for payment of the Unused Commitment Fee shall be other than a Business Day such payment shall be made on the next succeeding Business Day.

Appears in 1 contract

Samples: Credit Agreement (Approach Resources Inc)

Unused Commitment Fee. The Borrower shall pay to Agent Agent, for the ratable benefit of the Lenders Lenders, an unused commitment fee (the "Unused Commitment Fee") in an amount equal equivalent to one-quarter of one percent (.25%) the Applicable Margin times the daily average of the unadvanced amount of by which (i) the Revolving Commitment exceeds (i.e., the Commitment minus ii) the Total Outstandings). 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 Business Day of each calendar quarter beginning June 30March 31, 2008, with the first payment being for the period from the Effective Date through June 30, 2008, and 2004 with the final fee payment due on the Revolving Maturity Date for any period then ending for which the Unused Commitment Fee shall not have been theretofore paid. In the event the Revolving Commitment terminates on any date prior to the end of any such quarterly period, the Borrower shall pay to the Agent Agent, for the ratable benefit of the Lenders, on the date of such termination, the total Unused Commitment Fee due for the period in which such termination occurs. If a date for payment of the Unused Commitment Fee shall be other than a Business Day such payment shall be made on the next succeeding Business Day.

Appears in 1 contract

Samples: Credit Agreement (Exco Resources Inc)

Unused Commitment Fee. The Borrower shall pay to Administrative Agent for the ratable benefit of the Lenders an unused commitment fee (the "Unused Commitment Fee") in an amount equal equivalent to one-quarter of one percent (.25%) the Unused Commitment Fee Rate times the daily average of the unadvanced amount of the Commitment (i.e., the Commitment minus the Total Outstandings)Commitment. 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 Business Day of each calendar quarter beginning June 30December 31, 2008, with the first payment being for the period from the Effective Date through June 30, 2008, and 1999 with the final fee payment due on the Maturity Date for any period then ending for which the Unused Commitment Fee shall not have been theretofore paid. In the event the Commitment terminates on any date prior to the end of any such quarterly monthly period, the Borrower shall pay to the Administrative Agent for the ratable benefit of the Lenders, on the date of such termination, the total Unused Commitment Fee due for the period in which such termination occurs. If a date for payment of the Unused Commitment Fee shall be other than a Business Day such payment shall be made on the next succeeding Business Day.

Appears in 1 contract

Samples: Credit Agreement (Range Resources Corp)

Unused Commitment Fee. The Borrower shall pay to Agent for the ratable benefit of the Lenders an unused commitment fee (the "Unused Commitment Fee") in an amount equal equivalent to one-quarter of one percent (.25%) the Unused Commitment Fee Rate times the daily average of the unadvanced amount sum of the Commitment (i.e., the Commitment i) Borrowing Base minus the Total Outstandings). 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 June 30, 2008, with the first payment being for the period from the Effective Date through June 30, 2008, and 2002 with the final fee payment due on the Maturity Date for any period then ending for which the Unused Commitment Fee shall not have been theretofore paid. In the event the Commitment terminates on any date prior to the end of any such quarterly period, the Borrower shall pay to the Agent for the ratable benefit of the Lenders, on the date of such termination, the total Unused Commitment Fee due for the period in which such termination occurs. If a date for payment of the Unused Commitment Fee shall be other than a Business Day such payment shall be made on the next succeeding Business Day.

Appears in 1 contract

Samples: Credit Agreement (Range Resources Corp)

Unused Commitment Fee. The Borrower shall pay to Agent for the ratable benefit of the Lenders an unused commitment fee (the “Unused Commitment Fee”) in an amount equal equivalent to one-quarter of one percent (.25%) the Unused Commitment Fee Rate times the daily average of the unadvanced amount of the Commitment (i.e., the Commitment minus the Total Outstandings). 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 Business Day of each calendar quarter beginning June 3028, 2008, with the first payment being for the period from the Effective Date through June 30, 2008, and 2002 with the final fee payment due on the Maturity Date for any period then ending for which the Unused Commitment Fee shall not have been theretofore paid. In the event the Commitment terminates on any date prior to the end of any such quarterly period, the Borrower shall pay to the Agent for the ratable benefit of the Lenders, on the date of such termination, the total Unused Commitment Fee due for the period in which such termination occurs. If a date for payment of the Unused Commitment Fee shall be other than a Business Day such payment shall be made on the next succeeding Business Day.

Appears in 1 contract

Samples: Credit Agreement (Southwest Royalties Inc)

Unused Commitment Fee. Borrower The Borrowers shall pay to Agent for the --------------------- ratable benefit of the Lenders an unused commitment fee (the "Unused Commitment Fee") in an amount equal equivalent to one-quarter of one percent (.25%) the Unused Commitment Fee Rate times the daily average of the unadvanced amount of the Commitment (i.e., the Commitment minus the Total Outstandings)Commitment. 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 Business Day of each calendar quarter beginning June 30, 2008, with the first payment being for the period from the Effective Date through June 30, 2008, and 2000 with the final fee payment due on the Maturity Date for any period then ending for which the Unused Commitment Fee shall not have been theretofore paid. In the event the Commitment terminates on any date prior to the end of any such quarterly monthly period, Borrower the Borrowers shall pay to the Agent for the ratable benefit of the Lenders, on the date of such termination, the total Unused Commitment Fee due for the period in which such termination occurs. If a date for payment of the Unused Commitment Fee shall be other than a Business Day such payment shall be made on the next succeeding Business Day.

Appears in 1 contract

Samples: Credit Agreement (3tec Energy Corp)

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