Common use of Unused Portion Fee Clause in Contracts

Unused Portion Fee. Borrower shall pay to Bank an Unused Portion Fee (hereinafter referred to as the "Unused Portion Fee") equivalent to one-half of one percent ( 1/2%) per annum on the daily average of the unadvanced amount of the Revolving Commitment as reduced from time to time pursuant to Sections 2(e) and (f) hereof. The Unused Portion Fee shall be payable in arrears on the last day of each calendar quarter beginning June 30, 1996, with the final fee payment on the Maturity Date for any period then ending for which the Unused Portion Fee shall not have been theretofore paid. In the event the Revolving Commitment terminates on any date prior to the end of any such calendar quarter, Borrower shall pay to Bank, on the date of such termination, the total Unused Portion Fee due for the period in which such termination occurs.

Unused Portion Fee. For and in consideration of the Revolving Commitment, Borrower shall pay to Bank an Unused Portion Fee (hereinafter referred to as the "Unused Portion Fee") equivalent to onethree-half eighths of one percent ( 1/2(3/8%) per annum on the daily average of the unadvanced amount of the Revolving Commitment as reduced from time to time pursuant to Sections 2(e) and (f) hereofBorrowing Base. The Unused Portion Fee shall be payable in arrears on the last day first Business Day of each calendar quarter beginning June 30July 1, 1996 (with the payment due on July 1, 1996 to cover the period from the Effective Date until July 1, 1996), with the final fee payment due on the Revolving Maturity Date for any period then ending for which the Unused Portion Fee shall not have been theretofore paid. In the event the Revolving Commitment terminates on any date prior to the end of any such calendar quarterquarterly period, Borrower shall pay to Bank, on the date of such termination, the pro rated portion of the total Unused Portion Fee due for the period in which such termination occurs.