Unused Revolving Credit Commitment Fee Sample Clauses

Unused Revolving Credit Commitment Fee. From and after the Effective Date and until the Revolving Credit Commitment Termination Date, the Borrowers shall pay to the Revolving Agent, for the account of the Revolving Loan Lenders in accordance with their Pro Rata Shares, quarterly in arrears on the last Business Day of each Fiscal Quarter of the Parent and its Subsidiaries commencing December 31, 2019, a non-refundable unused commitment fee (the “Unused Revolving Credit Commitment Fee”), which shall accrue at the rate per annum of 1.00% on the excess, if any, of the Total Revolving Credit Commitment over the sum of the average principal amount of all Revolving Loans outstanding from time to time during the preceding Fiscal Quarter and which shall be deemed fully earned when paid. Notwithstanding the foregoing, the Unused Revolving Commitment Fee for each of the Fiscal Quarters ending March 31, 2020, June 30, 2020 and September 30, 2020 will be deferred and paid on December 31, 2020.
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Unused Revolving Credit Commitment Fee. The Borrower shall pay to the Administrative Agent for the ratable account of the Lenders in accordance with their Percentages commitment fees on the average daily Unused Revolving Credit Commitment at the rate per annum equal to (x) 0.15% if the average daily Unused Revolving Credit Commitments are less than 50% of the Revolving Credit Commitments then in effect and (y) 0.20% if the average daily Unused Revolving Credit Commitments are greater than or equal to 50% of the Revolving Credit Commitments then in effect (in each case, computed on the basis of a year of 360 days and the actual number of days elapsed), determined based on the average daily Revolving Credit Commitments during such previous quarter. For the avoidance of doubt, the principal amount of Swingline Loans shall not be counted towards or considered usage of the Revolving Credit Commitments for purposes of this Section 3.1. Such commitment fee shall be payable quarterly in arrears on the last day of each March, June, September, and December in each year (commencing on the first such date occurring after the Initial Closing Date) and on the Revolving Credit Termination Date, unless the Revolving Credit Commitment is terminated in whole on an earlier date, in which event the commitment fee for the period to the date of such termination in whole shall be paid on the date of such termination.
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Unused Revolving Credit Commitment Fee. The Borrowers shall pay to the Agent, for the ratable benefit of the Revolving Credit Lenders, a monthly unused commitment fee (the “Unused Revolving Credit Commitment Fee”), subject to adjustment as provided in Section 2.12, equal to one-half of one percent (0.50%) per annum, multiplied by the difference, if positive, between (a) the average daily amount of the Aggregate Revolving Credit Commitment during the applicable month (or portion thereof), minus (b) the average daily amount of the Aggregate Revolving Credit Outstandings (excluding the principal amount of Swingline Loans) during the applicable month (or portion thereof). The Unused Revolving Credit Commitment Fee shall accrue at all times during the Revolving Credit Availability Period, including at any time during which one or more of the conditions in Article V is not met, and shall be due and payable monthly in arrears on the first day of each month, commencing with the first such date to occur after the Closing Date, and on the last day of the Revolving Credit Availability Period.
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Unused Revolving Credit Commitment Fee. The Borrowers agree to pay to the Agent for the accounts of the Lenders in accordance with their respective Commitment Percentages a commitment fee (the "Commitment Fee") in an amount equal to the Applicable Margin for Commitment Fees then in effect per annum multiplied by the average daily amount during such calendar quarter or portion thereof by which the Total Revolving Credit Commitment minus the Letter of Credit Exposure exceeds the outstanding amount of Revolving Credit Loans during such calendar quarter. The Commitment Fee shall be payable quarterly in arrears on the first day of each calendar quarter for the immediately preceding calendar quarter (or portion thereof), commencing on the first such date following the date hereof, with a final payment on the Maturity Date or any earlier date on which the Revolving Credit Commitments shall terminate.
Sample 1
Unused Revolving Credit Commitment Fee. The Borrowers agree to pay to the Lender a fee (the “Unused Revolving Credit Commitment Fee”) for each day (based upon a 360-day year and counting the actual number of days elapsed) in an amount equal to the Applicable Margin thereto multiplied by the average daily unused portion of the Revolving Credit Commitment, computed in arrears on the last Business Day of each calendar month based upon the daily utilization for that calendar month as calculated by the Lender. The Unused Revolving Credit Commitment Fee shall be payable quarterly in arrears on the last day of each calendar quarter for the immediately preceding calendar quarter (or portion thereof), with the first such payment being due and payable on September 30, 2005, with a final payment on the Revolving Commitment Termination Date or such earlier date upon which the Revolving Credit Commitment shall terminate. For purposes of calculating utilization under this Section, the Revolving Credit Commitment shall be deemed used to the extent of the Revolving Credit Loans then outstanding. The Unused Revolving Credit Commitment Fee shall accrue at all times after the Closing Date, including at any time during which one or more of the conditions in Article IV have not been satisfied.
Sample 1
Unused Revolving Credit Commitment Fee. The Borrowers agree to pay to the Agent for the accounts of the Lenders in accordance with their respective Commitment Percentages a commitment fee (the "Revolving Credit Commitment Fee") in an amount equal to the Applicable Margin for Revolving Credit Commitment Fees then in effect per annum multiplied by the average daily amount during such calendar quarter or portion thereof by which the Total Revolving Credit Commitment minus the Letter of Credit Exposure exceeds the outstanding amount of Revolving Credit Loans during such calendar quarter. The Revolving Credit Commitment Fee shall be payable quarterly in arrears on the first day of each calendar quarter for the immediately preceding calendar quarter (or portion thereof), commencing on the first such date following the date hereof, with a final payment on the Revolving Credit Maturity Date or any earlier date on which the Revolving Credit Commitments shall terminate.
Sample 1
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Unused Revolving Credit Commitment Fee. The Borrower agrees to pay to the Administrative Agent for the account of each Lender according to its Ratable Share a non-refundable fee (the “Unused Revolving Credit Commitment Fee”) for each day from the Closing Date up to the Expiration Date (based on a 360-day year and counting the actual number of days elapsed) in an amount equal to the Applicable Margin per annum multiplied by the average daily unused portion of the Commitment, computed on a monthly basis in arrears on the last Business Day of each calendar month based upon the daily utilization for that month as calculated by the Administrative Agent. For purposes of calculating utilization under this Section, the Commitment shall be deemed used to the extent of the Revolving Credit Loans then outstanding plus the L/C Obligations. The Unused Revolving Credit Commitment Fee shall be due and payable monthly in arrears on the first Business Day of the following calendar month, and on the Expiration Date, provided that, in connection with any reduction or termination of the Revolving Credit Commitment, the accrued Unused Revolving Credit Commitment Fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, and with respect to any reduction, the following monthly payment being calculated on the basis of the period from such reduction date to such monthly payment date. The Unused Revolving Credit Commitment Fee shall accrue at all times after the Closing Date, including at any time during which one or more of the conditions in Article IV has not been satisfied. Notwithstanding anything to the contrary set forth herein, any Unused Revolving Credit Commitment Fee accrued with respect to the 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 Revolving Credit Commitment Fee shall otherwise have been due and payable by the Borrower prior to such time; and provided further that no Unused Revolving Credit Commitment Fee shall accrue with respect to the Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender.
Sample 1

Related to Unused Revolving Credit Commitment Fee

  • Revolving Credit Commitments (a) Subject to the terms and conditions hereof, each Lender, by its acceptance hereof, severally agrees to make a loan or loans (individually a “Revolving Loan” and collectively for all the Lenders the “Revolving Loans”) in U.S. Dollars to the Borrower from time to time on a revolving basis up to the amount of such Lender’s Revolving Credit Commitment, subject to any reductions thereof pursuant to the terms hereof, before the Revolving Credit Termination Date. The sum of the aggregate principal amount of Revolving Loans, Swingline Loans and L/C Obligations at any time outstanding shall not exceed the lesser of (i) the Revolving Credit Commitments of all Lenders in effect at such time and (ii) the Borrowing Base as then determined and computed. Each Borrowing of Revolving Loans shall be made ratably by the Lenders in proportion to their respective Revolver Percentages. As of the Closing Date immediately prior to the initial Borrowing of Revolving Loans under this Agreement, the aggregate outstanding principal amount of Revolving Loans advanced under the Prior Credit Agreement is $148,100,000, which outstanding Revolving Loans advanced under the Prior Credit Agreement shall continue as outstanding Revolving Loans under this Agreement. As provided in Section 1.6(a) hereof, the Borrower may elect that each Borrowing of Revolving Loans be either Base Rate Loans or Eurodollar Loans. Revolving Loans may be repaid and the principal amount thereof reborrowed before the Revolving Credit Termination Date, subject to the terms and conditions hereof.

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