Common use of Unused Fee Clause in Contracts

Unused Fee. During the period from the Effective Date to but excluding the Termination Date, the Borrower agrees to pay to the Agent for the account of the Lenders an unused facility fee with respect to the average daily difference between the (i) aggregate amount of the Commitments and (ii) the aggregate principal amount of all outstanding Revolving Loans plus the aggregate amount of all Letter of Credit Liabilities (the “Unused Amount”). Such fee shall be computed by multiplying the Unused Amount with respect to such quarter by the corresponding per annum rate set forth below: Unused Amount Unused Fee Greater than or equal to 50% of the aggregate amount of Commitments 0.250 % Less than 50% of the aggregate amount of Commitments 0.125 % Such fee shall be payable in arrears on the last day of each March, June, September or December of each calendar year. Any such accrued and unpaid fee shall also be payable on the Termination Date or any earlier date of termination of the Commitments or reduction of the Commitments to zero.

Appears in 2 contracts

Samples: Credit Agreement (Corporate Office Properties Trust), Credit Agreement (Corporate Office Properties Trust)

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Unused Fee. During the period from the Effective Date to but excluding the Termination Date, the Borrower agrees to pay to the Agent for the account of the Lenders an unused facility fee with respect to the average daily difference between the (i) aggregate amount of the Commitments and (ii) the aggregate principal amount of all outstanding Revolving Loans plus the aggregate amount of all Letter of Credit Liabilities (the “Unused Amount”). Such fee shall be computed by multiplying the Unused Amount with respect to such the applicable quarter (x) for all times prior to the Fifth Amendment Effective Date, by one quarter of one-percent (0.25%) and (y) for all times on or after the corresponding per annum rate set forth below: Unused Amount Unused Fee Greater than or equal to 50% Fifth Amendment Effective Date, by one-half of the aggregate amount of Commitments 0.250 % Less than 50% of the aggregate amount of Commitments 0.125 % one-percent (0.50%). Such fee shall be payable in arrears on the last day of each March, June, September or December of each calendar year. Any such accrued and unpaid fee shall also be payable on the Termination Date or any earlier date of termination of the Commitments or reduction of the Commitments to zero.

Appears in 2 contracts

Samples: Credit Agreement; And Waiver Agreement (Morgans Hotel Group Co.), Security Agreement (Morgans Hotel Group Co.)

Unused Fee. During the period from the Effective Date to but excluding the Termination Date, the Borrower agrees to pay to the Agent for the account of the Lenders an unused facility fee with respect to the average daily difference between the (i) aggregate amount of the Commitments and (ii) the aggregate principal amount of all outstanding Revolving Loans plus the aggregate amount of all Letter of Credit Liabilities (the “Unused Amount”). Such fee shall be computed by multiplying the Unused Amount with respect to such quarter by the corresponding per annum rate set forth below: Unused Amount Unused Fee Greater than or equal to 50% of the aggregate amount of Commitments 0.250 0.20 % Less than 50% of the aggregate amount of Commitments 0.125 % Such fee shall be payable in arrears on the last day of each March, June, September or December of each calendar year. Any such accrued and unpaid fee shall also be payable on the Termination Date or any earlier date of termination of the Commitments or reduction of the Commitments to zero.

Appears in 2 contracts

Samples: Pledge Agreement (Corporate Office Properties Trust), Pledge Agreement (Corporate Office Properties Trust)

Unused Fee. During the period from the Effective Date to but excluding the Termination Date, the Borrower agrees to pay to the Agent for the account of the Lenders an unused facility fee with respect to the average daily difference between the (i) aggregate amount of the Commitments and (ii) the aggregate principal amount of all outstanding Revolving Loans plus the aggregate amount of all Letter of Credit Liabilities (the “Unused Amount”). Such fee shall be computed by multiplying the Unused Amount with respect to such quarter by the corresponding per annum rate set forth below: Unused Amount Amounts Unused Fee Greater than or equal to 50% of the aggregate amount of Commitments 0.250 0.200 % Less than or equal to 50% of the aggregate amount of Commitments 0.125 % Such fee shall be payable in arrears on the last day of each March, June, September or December of each calendar year. Any such accrued and unpaid fee shall also be payable on the Termination Date or any earlier date of termination of the Commitments or reduction of the Commitments to zero.

Appears in 2 contracts

Samples: Credit Agreement (Kite Realty Group Trust), Credit Agreement (Kite Realty Group Trust)

Unused Fee. During the period from the Effective Date to but excluding the earlier to occur of (i) the Investment Grade Rating Date and (ii) the Termination Date, the Borrower agrees to pay to the Agent for the account of the Lenders an unused facility fee with respect to the average daily difference between the (i) aggregate amount of the Commitments and (ii) the aggregate principal amount of all outstanding Revolving Loans plus the aggregate amount of all Letter of Credit Liabilities (the “Unused Amount”). Such fee shall be computed by multiplying the Unused Amount with respect to such quarter by the corresponding per annum rate set forth below: Unused Amount Unused Fee Greater than or equal to 50% of the aggregate amount of Commitments 0.250 0.20 % Less than 50% of the aggregate amount of Commitments 0.125 % Such fee shall be payable in arrears on the last day of each March, June, September or December of each calendar year. Any such accrued and unpaid fee shall also be payable on the earlier of (x) the Investment Grade Rating Date and (y) the Termination Date or any earlier date of termination of the Commitments or reduction of the Commitments to zero.

Appears in 2 contracts

Samples: Credit Agreement (Corporate Office Properties Trust), Credit Agreement (Corporate Office Properties Trust)

Unused Fee. During the period from the Effective Date to but excluding the Termination Date, the Borrower agrees to pay to the Agent for the account of the Lenders an unused facility fee with respect to the average daily difference between the (i) aggregate amount of the Commitments and (ii) the aggregate principal amount of all outstanding Revolving Loans plus the aggregate amount of all Letter of Credit Liabilities (the “Unused Amount”). Such fee shall be computed by multiplying the Unused Amount with respect to such quarter by the corresponding per annum rate set forth below: Unused Amount Unused Fee Greater than or equal to <50% of the aggregate amount of Commitments 0.250 0.125% Less than > 50% of the aggregate amount of Commitments 0.125 0.20% Such fee shall be payable in arrears on the last day of each March, June, September or December of each calendar year. Any such accrued and unpaid fee shall also be payable on the Termination Date or any earlier date of termination of the Commitments or reduction of the Commitments to zero.

Appears in 1 contract

Samples: Credit Agreement (DiamondRock Hospitality Co)

Unused Fee. During the period from the Effective Date to but excluding the Termination Date, the Borrower agrees to pay to the Agent for the account of the Non-Defaulting Lenders an unused facility fee with respect to the average daily difference between the (i) aggregate amount of the Commitments and (ii) the aggregate principal amount of all outstanding Revolving Loans plus the aggregate amount of all Letter of Credit Liabilities (the “Unused Amount”). Such fee shall be computed by multiplying the Unused Amount with respect to such quarter by the corresponding per annum rate set forth below: Unused Amount Unused Fee Greater than 50% of the aggregate amount of Commitments 0.35% Less than or equal to 50% of the aggregate amount of Commitments 0.250 % Less than 50% of the aggregate amount of Commitments 0.125 0.25% Such fee shall be payable in arrears on the last day of each March, June, September or December of each calendar year. Any such accrued and unpaid fee shall also be payable on the Termination Date or any earlier date of termination of the Commitments or reduction of the Commitments to zero.

Appears in 1 contract

Samples: Credit Agreement (Kite Realty Group Trust)

Unused Fee. During the period from the Effective Date to but excluding the Termination Date, the Borrower agrees to pay to the Agent for the account of the Lenders an unused facility fee with respect to the average daily difference between the (i) aggregate amount of the Commitments and (ii) the aggregate principal amount of all outstanding Revolving Loans plus the aggregate amount of all Letter of Credit Liabilities (the “Unused Amount”). Such fee shall be computed by multiplying the Unused Amount with respect to such quarter by the corresponding per annum rate set forth below: Unused Amount Unused Fee Greater than or equal to 50% of the aggregate amount of Commitments 0.250 % Less than < 50% of the aggregate amount of Commitments 0.125 % > 50% of the aggregate amount of Commitments 0.20 % Such fee shall be payable in arrears on the last day of each March, June, September or December of each calendar year. Any such accrued and unpaid fee shall also be payable on the Termination Date or any earlier date of termination of the Commitments or reduction of the Commitments to zero.

Appears in 1 contract

Samples: Credit Agreement (DiamondRock Hospitality Co)

Unused Fee. During the period from the Effective Date to but excluding the Termination Investment Grade Rating Date, the Borrower agrees to pay to the Agent for the account of the Lenders an unused facility fee with respect to the average daily difference between the (i) aggregate amount of the Commitments and (ii) the aggregate principal amount of all outstanding Revolving Loans plus the aggregate amount of all Letter of Credit Liabilities (the “Unused Amount”). Such fee shall be computed by multiplying the Unused Amount with respect to such quarter by the corresponding per annum rate set forth below: Unused Amount Unused Fee Greater than or equal to > 50% of the aggregate amount of Commitments 0.250 0.20 % Less than < 50% of the aggregate amount of Commitments 0.125 % Such fee shall be payable in arrears on the last day of each March, June, September or December of each calendar year. Any such accrued and unpaid fee shall also be payable on the Termination Date or any earlier date of termination of the Commitments or reduction of the Commitments to zero.

Appears in 1 contract

Samples: Credit Agreement (Sl Green Realty Corp)

Unused Fee. During the period from the Effective Date to but excluding the Termination Investment Grade Rating Date, the Borrower agrees to pay to the Agent for the account of the Lenders an unused facility fee with respect to the average daily difference between the (i) aggregate amount of the Commitments and (ii) the aggregate principal amount of all outstanding Revolving Loans plus the aggregate amount of all Letter of Credit Liabilities (the “Unused Amount”). Such fee shall be computed by multiplying the Unused Amount with respect to such quarter by the corresponding per annum rate set forth below: Unused Amount Unused Fee Greater than or equal to > 50% of the aggregate amount of Commitments 0.250 0.25 % Less than < 50% of the aggregate amount of Commitments 0.125 % Such fee shall be payable in arrears on the last day of each March, June, September or December of each calendar year. Any such accrued and unpaid fee shall also be payable on the Termination Date or any earlier date of termination of the Commitments or reduction of the Commitments to zero.

Appears in 1 contract

Samples: Credit Agreement (Sl Green Realty Corp)

Unused Fee. During the period from the Effective Date to but excluding the Termination Date, the Borrower agrees to pay to the Agent for the account of the Lenders an unused facility fee with respect to the average daily difference between the (i) aggregate amount of the Commitments and (ii) the aggregate principal amount of all outstanding Revolving Loans plus the aggregate amount of all Letter of Credit Liabilities (the “Unused Amount”). Such fee shall be computed by multiplying the Unused Amount with respect to such quarter by the corresponding per annum rate set forth below: Unused Amount Unused Fee Greater than or equal to 50% of the aggregate amount of Commitments 0.250 % Less than or equal to 50% of the aggregate amount of Commitments 0.125 % Such fee shall be payable in arrears on the last day of each March, June, September or December of each calendar year. Any such accrued and unpaid fee shall also be payable on the Termination Date or any earlier date of termination of the Commitments or reduction of the Commitments to zero.

Appears in 1 contract

Samples: Credit Agreement (Kite Realty Group Trust)

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Unused Fee. During the period from the Effective Date to but excluding the Termination Date, the Borrower agrees to pay to the Agent for the account of the Lenders an unused facility fee with respect to the average daily difference between the (i) aggregate amount of the Commitments and (ii) the aggregate principal amount of all outstanding Revolving Loans plus the aggregate amount of all Letter of Credit Liabilities (the "Unused Amount"). Such fee shall be computed by multiplying the Unused Amount with respect to such quarter by the corresponding per annum rate set forth below: Unused Amount Unused Fee Greater than UNUSED AMOUNT UNUSED FEE ------------- ---------- > or equal to = 50% of the aggregate amount of Commitments 0.250 0.250% Less than < 50% of the aggregate amount of Commitments 0.125 0.125% Such fee shall be payable in arrears on the last day of each March, June, September or December of each calendar year. Any such accrued and unpaid fee shall also be payable on the Termination Date or any earlier date of termination of the Commitments or reduction of the Commitments to zero.

Appears in 1 contract

Samples: Credit Agreement (U-Store-It Trust)

Unused Fee. During the period from the Effective Date to but excluding the Termination Date, the Borrower agrees to pay to the Agent for the account of the Lenders an unused facility fee with respect to the average daily difference between the (i) aggregate amount of the Revolving Commitments and (ii) the aggregate principal amount of all outstanding Revolving Loans plus the aggregate amount of all Letter of Credit Liabilities (the “Unused Amount”). Such fee shall be computed by multiplying the Unused Amount with respect to such quarter by the corresponding per annum rate set forth below: Unused Amount Unused Fee Greater than or equal to > 50% of the aggregate amount of Revolving Commitments 0.250 0.50 % Less than < 50% of the aggregate amount of Revolving Commitments 0.125 0.40 % Such fee shall be payable quarterly in arrears on the last day of each March, June, September or December of each calendar year. Any such accrued and unpaid fee shall also be payable on the Termination Date or any earlier date of termination of the Revolving Commitments or reduction of the Revolving Commitments to zero.

Appears in 1 contract

Samples: Assignment and Acceptance Agreement (U-Store-It Trust)

Unused Fee. During the period from the Effective Agreement Date to but excluding the Termination Date, the Borrower agrees to pay to the Agent for the account of the Lenders an unused facility fee with respect to the average daily difference between the (i) aggregate amount of the Commitments and (ii) the aggregate principal amount of all outstanding Revolving Loans plus the aggregate amount of all Letter of Credit Liabilities (the “Unused Amount”). Such fee shall be computed by multiplying the Unused Amount with respect to such quarter by the corresponding per annum rate set forth below: Unused Amount Unused Fee Greater than or equal to < 25% of the aggregate amount of Commitments 0.0 % > 25% but < 50% of the aggregate amount of the Commitments 0.10 % > 50% of the aggregate amount of Commitments 0.250 % Less than 50% of the aggregate amount of Commitments 0.125 0.20 % Such fee shall be payable in arrears on the last day of each March, June, September or December of each calendar yearyear with the first payment of such fee being due on December 31, 2005. Any such accrued and unpaid fee shall also be payable on the Termination Date or any earlier date of termination of the Commitments or reduction of the Commitments to zero.

Appears in 1 contract

Samples: Credit Agreement (Government Properties Trust Inc)

Unused Fee. During the period from the Effective Date to but excluding the Termination DateDate and so long as the Investment Grade Rating Date has not occurred, the Borrower agrees to pay to the Agent for the account of the Lenders an unused facility fee with respect to the average daily difference between the (i) aggregate amount of the Revolving Commitments and (ii) the aggregate principal amount of all outstanding Revolving Loans plus the aggregate amount of all Letter of Credit Liabilities (the “Unused Amount”). Such fee shall be computed by multiplying the Unused Amount with respect to such quarter by the corresponding per annum rate set forth below: Unused Amount Unused Fee Greater than or equal to >= 50% of the aggregate amount of Revolving Commitments 0.250 0.200 % Less than < 50% of the aggregate amount of Revolving Commitments 0.125 % Such fee shall be payable in arrears on the last day of each March, June, September or December of each calendar year. Any such accrued and unpaid fee shall also be payable on the Termination Date or any earlier date of termination of the Revolving Commitments or reduction of the Revolving Commitments to zero.

Appears in 1 contract

Samples: Credit Agreement (U-Store-It Trust)

Unused Fee. During the period from the Effective Date to but excluding the Termination Date, the Borrower agrees to pay to the Agent for the account of the Non-Defaulting Lenders an unused facility fee with respect to the average daily difference between the (i) aggregate amount of the Commitments and (ii) the aggregate principal amount of all outstanding Revolving Loans plus the aggregate amount of all Letter of Credit Liabilities and (ii) the aggregate amount of the Commitments (the “Unused Amount”). Such fee shall be computed by multiplying the Unused Amount with respect to such quarter by the corresponding per annum rate set forth below: Unused Amount Unused Fee Greater than 50% of the aggregate amount of Commitments 0.35% Less than or equal to 50% of the aggregate amount of Commitments 0.250 % Less than 50% of the aggregate amount of Commitments 0.125 0.25% Such fee shall be payable in arrears on the last day of each March, June, September or December of each calendar year. Any such accrued and unpaid fee shall also be payable on the Termination Date or any earlier date of termination of the Commitments or reduction of the Commitments to zero.

Appears in 1 contract

Samples: Credit Agreement (Kite Realty Group Trust)

Unused Fee. During the period from the Effective Date to but excluding the earlier to occur of (i) the Investment Grade Rating Date and (ii) the Termination Date, the Borrower agrees to pay to the Agent for the account of the Lenders an unused facility fee with respect to the average daily difference between the (i) aggregate amount of the Commitments and (ii) the aggregate principal amount of all outstanding Revolving Loans plus the aggregate amount of all Letter of Credit Liabilities (the “Unused Amount”). Such fee shall be computed by multiplying the Unused Amount with respect to such quarter by the corresponding per annum rate set forth below: Unused Amount Unused Fee Greater than or equal to 50% of the aggregate amount of Commitments 0.250 0.35 % Less than 50% of the aggregate amount of Commitments 0.125 0.25 % Such fee shall be payable in arrears on the last day of each March, June, September or December of each calendar year. Any such accrued and unpaid fee shall also be payable on the earlier of (x) the Investment Grade Rating Date and (y) the Termination Date or any earlier date of termination of the Commitments or reduction of the Commitments to zero.

Appears in 1 contract

Samples: Credit Agreement (Corporate Office Properties Trust)

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