Unused Line Payment Clause Samples
An Unused Line Payment clause requires a borrower to pay a fee on the portion of a credit line or loan that remains undrawn or unused. Typically, this fee is calculated as a percentage of the unused amount and is charged periodically, such as monthly or quarterly, to compensate the lender for making funds available even if they are not utilized. The core function of this clause is to incentivize borrowers to use the credit line efficiently and to ensure the lender is compensated for the capital commitment, even when the borrower does not fully draw on the facility.
Unused Line Payment. If, during any month, the average of the aggregate Loans outstanding during such month (the "Average Loan Amount") do not equal the Capital Availability Amount, Company shall pay to Laurus at the end of such month a payment (calculated on a per annum basis) in an amount equal to one half percent (0.50%) of the amount by which the Capital Availability Amount exceeds the Average Loan Amount. Notwithstanding the foregoing, any such due and unpaid fee shall come immediately due and payable upon termination of this Agreement.
Unused Line Payment. If, for any month, the average outstanding Revolving Credit Advances (the "Average Revolving Amount") are less than the Capital Availability Amount, the Company shall pay to Laurus at the end of such month a payment (calculated on a per annum basis) in an amount equal to one half percent (0.50%) per annum of the amount by which the Capital Availability Amount exceeds the Average Revolving Amount. Notwithstanding the foregoing, any unpaid fees shall be immediately due and payable upon termination of this Agreement.
Unused Line Payment. If, during any month, the average of the aggregate Loans outstanding during such month (the "Average Loan Amount") does not equal the Capital Availability Amount, the Companies shall jointly and severally pay to Laurus at the end of such month a payment (calculated on a per annum basis) in an amount equal to one-half percent (0.25%) of the amount by which the Capital Availability Amount exceeds the Average Loan Amount. Notwithstanding the foregoing, any such due and unpaid fee shall come immediately due and payable upon termination of this Agreement.
Unused Line Payment. If, during any month, the average of the aggregate Loans outstanding during such month (the "Average Loan Amount") does not equal the Total Investment Amount, Company and the Eligible Subsidiaries shall pay to Laurus at the end of such month a payment (calculated on a per annum basis) in an amount equal to one half percent (0.50%) of the amount by which the Total Investment Amount exceeds the Average Loan Amount (the "Unused Line Payment"). Any such due and unpaid fee shall come immediately due and payable upon termination of this Agreement. Notwithstanding the foregoing, if on or prior to June 30, 2005 Laurus shall have released its Lien on the assets of Go Software based upon ROIE's satisfaction of the conditions for such release as set forth in the GO Software Side Letter Agreement, then on and after the date of such Lien release the Unused Line Payment shall equal zero ($0).
Unused Line Payment. If, for any month, the average outstanding Revolving Advances (the "Average Revolving Amount") do not equal the Capital Availability Amount, the Company shall pay to Laurus at the end of such month a payment (calculated on a per annum basis) in an amount equal to 0.20% of the amount by which the Capital Availability Amount exceeds the Average Revolving Amount.
Unused Line Payment. If, during any month, the average of the aggregate Loans outstanding under the Revolving Note during such month (the "Average Revolving Note Loan Amount") does not equal the maximum amount permitted to be outstanding under the Revolving Note (the "Revolving Note Availability Amount"), Company shall pay to Laurus at the end of such month a payment (calculated on a per annum basis) in an amount equal to thirty five hundredths of one percent (0.35%) of the amount by which the Revolving Note Availability exceeds the Average Revolving Loan Amount. Notwithstanding the foregoing, any such due and unpaid fee shall come immediately due and payable upon termination of this Agreement.