Common use of Unused Facility Fee Clause in Contracts

Unused Facility Fee. The Borrower agrees to pay to the Agent, for the ratable benefit of the Revolving Lenders, an unused facility fee (the “Unused Facility Fee”) as follows: (i) with respect to the Revolving Lenders, in an amount equal to the product of (i) the average daily unused portion of the Revolving Committed Amount (except to the extent attributable to any Defaulting Lender), as the same may be reduced from time to time hereunder (computed on a quarterly basis in arrears as of the last day of each June, September, December and March commencing on the last day of the calendar quarter during which the Closing Date occurs, based upon the daily utilization in respect of the Revolving Committed Amount (except to the extent attributable to any Defaulting Lender) for that quarter as calculated by the Agent), multiplied by (ii) the Applicable Percentage divided by four; (ii) the Unused Facility Fee shall be fully earned and due and payable quarterly in arrears on the last day of each June, September, December and March commencing on the last day of the calendar quarter during which the Closing Date occurs, through the Revolving Termination Date with respect to the Revolving Lenders (provided, that if the last day of any such quarter is not a Business Day, then such payment shall be due on the first Business Day thereafter); and (iii) For purposes of computing the Unused Facility Fee under this subsection 3.4(b), usage of the Swing Line Sublimit shall not be considered usage of the Revolving Committed Amount.

Appears in 2 contracts

Sources: Credit Agreement (Journal Media Group, Inc.), Credit Agreement (Journal Communications Inc)

Unused Facility Fee. The Borrower agrees to pay to the Agent, for the ratable benefit of the Revolving Lenders, an unused facility fee (the “Unused Facility Fee”) as follows: (i) with respect to the Revolving Lenders, in an amount equal to the product of (i) the average daily unused portion of the Revolving Committed Amount (except to the extent attributable to any Defaulting Lender)Amount, as the same may be reduced from time to time hereunder hereunder, (computed on a quarterly basis in arrears as of the last day of each June, September, December and March commencing on the last day of the calendar quarter during which the Closing Date occurs, based upon the daily utilization in respect of the Revolving Committed Amount (except to the extent attributable to any Defaulting Lender) for that quarter as calculated by the Agent), ) multiplied by (ii) the Applicable Percentage divided by four; (ii) the . The Unused Facility Fee shall be fully earned and due and payable quarterly in arrears on the last day of each June, September, December and March commencing on the last day of the calendar quarter during which the Closing Date occurs, through the Revolving Termination Date with respect to the Revolving Lenders (provided, that if the last day of any such quarter is not a Business Day, then such payment shall be due on the first Business Day thereafter); and (iii) . The Unused Facility Fee shall be fully earned and payable on each such payment date. For purposes of computing the Unused Facility Fee under this subsection 3.4(b), usage of the Swing Line Sublimit shall not be considered usage of the Revolving Committed Amount.

Appears in 2 contracts

Sources: Credit Agreement (Journal Communications Inc), Credit Agreement (Journal Communications Inc)

Unused Facility Fee. The Borrower agrees to pay to the Agent, for the ratable benefit of the Class A Revolving Lenders and the ratable benefit of the Class B Revolving Lenders, an unused facility fee (the “Unused Facility Fee”) as follows: (i) with respect to the Class A Revolving Lenders, in an amount equal to the product of (i) the average daily unused portion of the Class A Revolving Committed Amount (except to the extent attributable to any Defaulting Lender), as the same may be reduced from time to time hereunder (computed on a quarterly basis in arrears as of the last day of each June, September, December and March commencing on the last day of the calendar quarter during which the Amendment No. 1 Closing Date occurs, based upon the daily utilization in respect of the Class A Revolving Committed Amount (except to the extent attributable to any Defaulting Lender) for that quarter as calculated by the Agent), multiplied by (ii) the Applicable Percentage divided by four; (ii) with respect to the Class B Revolving Lenders, in an amount equal to the product of (i) the average daily unused portion of the Class B Revolving Committed Amount, as the same may be reduced from time to time hereunder (computed on a quarterly basis in arrears as of the last day of each June, September, December and March commencing on the last day of the calendar quarter during which the Amendment No. 1 Closing Date occurs, based upon the daily utilization in respect of the Class B Revolving Committed Amount for that quarter as calculated by the Agent), multiplied by (ii) the Applicable Percentage divided by four; (iii) the Unused Facility Fee shall be fully earned and due and payable quarterly in arrears on the last day of each June, September, December and March commencing on the last day of the calendar quarter during which the Closing Date or Amendment No. 1 Closing Date, as the case may be, occurs, through the Class A Revolving Termination Date with respect to the Class A Revolving Lenders, and the Class B Revolving Termination Date with respect to the Class B Revolving Lenders (provided, that if the last day of any such quarter is not a Business Day, then such payment shall be due on the first Business Day thereafter); and (iiiiv) the Unused Facility Fee shall be fully earned and payable on each such payment date. For purposes of computing the Unused Facility Fee under this subsection 3.4(b), usage of the Swing Line Sublimit shall not be considered usage of the Class A Revolving Committed Amount.

Appears in 1 contract

Sources: Credit Agreement (Journal Communications Inc)

Unused Facility Fee. The Borrower agrees to pay to the Agent, for the ratable benefit of the Revolving Lenders, an unused facility fee (the "Unused Facility Fee") as follows: (i) with respect to the Revolving Lenders, in an amount equal to the product of (i) the average daily unused portion of the Revolving Committed Amount (except to the extent attributable to any Defaulting Lender)Amount, as the same may be reduced from time to time hereunder hereunder, (computed on a quarterly basis in arrears as of the last day of each June, September, December and March commencing on the last day of the calendar quarter during which the Closing Date occurs, based upon the daily utilization in respect of the Revolving Committed Amount (except to the extent attributable to any Defaulting Lender) for that quarter as calculated by the Agent), ) multiplied by (ii) the Applicable Percentage divided by four; (ii) the . The Unused Facility Fee shall be fully earned and due and payable quarterly in arrears on the last day of each June, September, December and March commencing on the last day of the calendar quarter during which the Closing Date occurs, through the Revolving Termination Date with respect to the Revolving Lenders (provided, that if the last day of any such quarter is not a Business Day, then such payment shall be due on the first Business Day thereafter); and (iii) . The Unused Facility Fee shall be fully earned and payable on each such payment date. For purposes of computing the Unused Facility Fee under this subsection 3.4(b), usage of the Swing Line Sublimit shall not be considered usage of the Revolving Committed Amount.

Appears in 1 contract

Sources: Credit Agreement (Journal Communications Inc)