Common use of Unused Commitment Fees Clause in Contracts

Unused Commitment Fees. The Borrower shall pay to the Administrative Agent for the account of the Lenders the following unused commitment fees, from the date hereof in the case of each Initial Lender and from the effective date specified in the Assignment and Acceptance pursuant to which it became a Lender in the case of each other Lender, in each case until the Termination Date, payable in arrears quarterly on the last day of each March, June, September and December, commencing December 31, 2007, and on the Termination Date in respect of the applicable Facility: (i) for each such quarter during which the average daily Revolver Usage of all Revolving Credit Lenders is less than fifty percent (50%) of the aggregate of all Revolving Credit Commitments, an unused revolving commitment fee at the rate of 0.40% per annum on the sum of the average daily Unused Revolving Credit Commitment of each Appropriate Lender plus such Appropriate Lender’s Pro Rata Share of the average daily outstanding Swing Line Advances during such quarter, and (ii) for each such quarter during which the average daily Revolver Usage of all Revolving Credit Lenders is greater than or equal to fifty percent (50%) of the aggregate of all Revolving Credit Commitments, an unused revolving commitment fee at the rate of 0.25% per annum on the sum of the average daily Unused Revolving Credit Commitment of each Appropriate Lender plus such Appropriate Lender’s Pro Rata Share of the average daily outstanding Swing Line Advances during such quarter; provided, however, that any unused commitment fee accrued with respect to any of the Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such unused commitment fee shall otherwise have been due and payable by the Borrower prior to such time; and provided further that no unused commitment fee shall accrue on any of the Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender.

Appears in 1 contract

Samples: Credit Agreement (Grubb & Ellis Co)

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Unused Commitment Fees. The (i) Accruing from the Closing Date through the Maturity Date with respect to the Revolving A-1 Credit Facility, the Borrower shall agrees to pay to the Administrative Agent for the account of the Lenders the following unused commitment fees, from the date hereof in the case of each Initial Revolving A-1 Loan Lender and from the effective date specified in the Assignment and Acceptance pursuant according to which it became a Lender in the case of each other Lender, in each case until the Termination Date, payable in arrears quarterly on the last day of each March, June, September and December, commencing December 31, 2007, and on the Termination Date in respect of the applicable Facility: (i) for each such quarter during which the average daily Revolver Usage of all Revolving Credit Lenders is less than fifty percent (50%) of the aggregate of all Revolving Credit Commitments, an unused revolving commitment fee at the rate of 0.40% per annum on the sum of the average daily Unused Revolving Credit Commitment of each Appropriate Lender plus such Appropriate Lender’s its Pro Rata Share of the average daily outstanding Swing Line Advances during such quarterRevolving A-1 Credit Facility, a nonrefundable unused commitment fee (each an “Unused Revolving A-1 Commitment Fee”) equal to (x) the Applicable Unused Revolving A-1 Commitment Fee Rate (computed on the basis of a year of 360 days, as the case may be, and actual days elapsed) multiplied by (iiy) for each such quarter during which the average daily Revolver Usage result of all (A) the Revolving Credit Lenders is greater than or equal to fifty percent A-1 Commitments minus (50%B) of the aggregate of all Revolving Credit Commitments, an unused revolving commitment fee at the rate of 0.25% per annum on the sum of the average daily Unused Revolving Credit Commitment of each Appropriate Lender plus such Appropriate Lender’s Pro Rata Share A-1 Loans and the portion of the average daily outstanding Swing Line Advances during such quarterLetter of Credit Obligations allocated to the Revolving A-1 Loan Lenders on a pro rata basis; provided, however, with respect to the Unused Revolving A-1 Commitment Fee for the account of the Swing Line Lender, such fee shall be equal to (x) the Applicable Unused Revolving A-1 Commitment Fee Rate (computed on the basis of a year of 360 days, as the case may be, and actual days elapsed) multiplied by (y) the average daily difference between (A) the Revolving A-1 Commitments and (B) the Revolving A-1 Credit Facility Usage (for the avoidance of doubt, as to Swing Line Lender only, Swing Line Loans will reduce the Unused Revolving A-1 Commitment Fee); provided further that any unused commitment fee Unused Revolving A-1 Commitment Fee accrued with respect to any of the Commitments Revolving A-1 Commitment of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such unused commitment fee Unused Revolving A-1 Commitment Fee shall otherwise have been due and payable by the Borrower prior to such time; and provided further that no unused commitment fee Unused Revolving A-1 Commitment Fee shall accrue on any of with respect to the Commitments Revolving A-1 Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. Subject to the provisos in the directly preceding sentence, all Unused Revolving A-1 Commitment Fees shall be payable in arrears on each Interest Payment Date.

Appears in 1 contract

Samples: Credit Agreement (ATN International, Inc.)

Unused Commitment Fees. The Borrower shall pay to the Administrative Agent for the account of the Lenders the following unused commitment fees, from the date hereof in the case of each Initial Lender and from the effective date specified in the Assignment and Acceptance pursuant to which it became a Lender in the case of each other Lender, in each case until the Termination Date, payable in arrears quarterly monthly on the last day of each March, June, September and Decembercalendar month, commencing December May 31, 20072009, and on the Termination Date in respect of the applicable Facility: (i) for each such quarter during which the average daily Revolver Usage of all Revolving Credit Lenders is less than fifty percent (50%) of the aggregate of all Revolving Credit Commitments, Facility an unused revolving commitment fee at the rate of 0.400.75% per annum on the sum of the average daily Unused Revolving Credit B Commitment of each Appropriate Lender plus such Appropriate Lender’s Pro Rata Share of the average daily outstanding Swing Line Advances during such quarter, and (ii) for each such quarter during which the average daily Revolver Usage of all Revolving Credit Lenders is greater than or equal to fifty percent (50%) of the aggregate of all Revolving Credit Commitments, an unused revolving commitment fee at the rate of 0.25% per annum on the sum of the average daily Unused Revolving Credit Commitment of each Appropriate Lender plus such Appropriate Lender’s Pro Rata Share of the average daily outstanding Swing Line Advances during such quartermonth; provided, however, that any unused commitment fee accrued with respect to any of the Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such unused commitment fee shall otherwise have been due and payable by the Borrower prior to such time; and provided further that no unused commitment fee shall accrue on any of the Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender.

Appears in 1 contract

Samples: Credit Agreement (Grubb & Ellis Co)

Unused Commitment Fees. The (i) Accruing from the Closing Date through the Maturity Date with respect to the Revolving Credit Facility, the Borrower shall agrees to pay to the Administrative Agent for the account of the Lenders the following unused commitment fees, from the date hereof in the case of each Initial Revolving Lender and from the effective date specified in the Assignment and Acceptance pursuant according to which it became a Lender in the case of each other Lender, in each case until the Termination Date, payable in arrears quarterly on the last day of each March, June, September and December, commencing December 31, 2007, and on the Termination Date in respect of the applicable Facility: (i) for each such quarter during which the average daily Revolver Usage of all Revolving Credit Lenders is less than fifty percent (50%) of the aggregate of all Revolving Credit Commitments, an unused revolving commitment fee at the rate of 0.40% per annum on the sum of the average daily Unused Revolving Credit Commitment of each Appropriate Lender plus such Appropriate Lender’s its Pro Rata Share of the average daily outstanding Swing Line Advances during such quarterRevolving Credit Facility, a nonrefundable unused commitment fee (each an “Unused Revolving Commitment Fee”) equal to (x) the Applicable Unused Revolving Commitment Fee Rate (computed on the basis of a year of 360 days, as the case may be, and actual days elapsed) multiplied by (iiy) for each such quarter during which the average daily Revolver Usage result of all (A) the Revolving Credit Lenders is greater than or equal to fifty percent Commitments minus (50%B) of the aggregate of all Revolving Credit Commitments, an unused revolving commitment fee at the rate of 0.25% per annum on the sum of the average daily Revolving Loans; provided further that any Unused Revolving Credit Commitment of each Appropriate Lender plus such Appropriate Lender’s Pro Rata Share of the average daily outstanding Swing Line Advances during such quarter; provided, however, that any unused commitment fee Fee accrued with respect to any of the Commitments Revolving Commitment of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such unused commitment fee Unused Revolving Commitment Fee shall otherwise have been due and payable by the Borrower prior to such time; and provided further that no unused commitment fee Unused Revolving Commitment Fee shall accrue on any of with respect to the Commitments Revolving Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. Subject to the provisos in the directly preceding sentence, all Unused Revolving Commitment Fees shall be payable in arrears on each Interest Payment Date.

Appears in 1 contract

Samples: Credit Agreement (Nuvera Communications, Inc.)

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Unused Commitment Fees. The (i) Accruing from the Closing Date through the Maturity Date with respect to the Revolving Credit Facility, the Borrower shall agrees to pay to the Administrative Agent for the account of the Lenders the following unused commitment fees, from the date hereof in the case of each Initial Revolving Lender and from the effective date specified in the Assignment and Acceptance pursuant according to which it became a Lender in the case of each other Lender, in each case until the Termination Date, payable in arrears quarterly on the last day of each March, June, September and December, commencing December 31, 2007, and on the Termination Date in respect of the applicable Facility: (i) for each such quarter during which the average daily Revolver Usage of all Revolving Credit Lenders is less than fifty percent (50%) of the aggregate of all Revolving Credit Commitments, an unused revolving commitment fee at the rate of 0.40% per annum on the sum of the average daily Unused Revolving Credit Commitment of each Appropriate Lender plus such Appropriate Lender’s its Pro Rata Share of the average daily outstanding Swing Line Advances during such quarterRevolving Credit Facility, a nonrefundable unused commitment fee (each an “Unused Revolving Commitment Fee”) equal to (x) the Applicable Unused Revolving Commitment Fee Rate (computed on the basis of a year of 360 days, as the case may be, and actual days elapsed) multiplied by (iiy) for each such quarter during which the average daily Revolver Usage result of all (A) the Revolving Credit Lenders is greater than or equal to fifty percent Commitments minus (50%B) of the aggregate of all Revolving Credit Commitments, an unused revolving commitment fee at the rate of 0.25% per annum on the sum of the average daily Revolving Loans; provided however, with respect to the Unused Commitment Fee for the account of the Swing Line Lender, such fee shall be equal to the Applicable Unused Revolving Credit Commitment Fee Rate (computed on the basis of each Appropriate Lender plus such Appropriate Lender’s Pro Rata Share a year of 360 days, as the case may be, and actual days elapsed) multiplied by the average daily outstanding Swing Line Advances during such quarterdifference between the Revolving Commitment and the Revolving Credit Facility Usage; provided, however, provided further that any unused commitment fee Unused Revolving Commitment Fee accrued with respect to any of the Commitments Revolving Commitment of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such unused commitment fee Unused Revolving Commitment Fee shall otherwise have been due and payable by the Borrower prior to such time; and provided further that no unused commitment fee Unused Revolving Commitment Fee shall accrue on any of with respect to the Commitments Revolving Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. Subject to the provisos in the directly preceding sentence, all Unused Revolving Commitment Fees shall be payable in arrears on each Interest Payment Date.

Appears in 1 contract

Samples: Credit Agreement (Nuvera Communications, Inc.)

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