Common use of Utilization Fee Clause in Contracts

Utilization Fee. The Borrower shall pay to the Administrative Agent for the ratable account of each Lender, a utilization fee of 0.125% (computed on the basis of a year of 360 days and the actual number of days elapsed) times the actual daily aggregate outstanding principal amount of Loans and L/C Obligations on each day that such aggregate amount exceeds 75% of the Commitments. The utilization fee shall be due and payable quarterly in arrears on the last day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the later of the Termination Date and the date on which the Obligation have been paid in full. The utilization fee shall be calculated quarterly in arrears. The utilization fee shall accrue at all times.

Appears in 1 contract

Samples: Credit Agreement (Usfreightways Corp)

AutoNDA by SimpleDocs

Utilization Fee. The Borrower shall pay to the Administrative Agent for the ratable account of each LenderLender in accordance with its Pro Rata Share, a utilization fee of 0.125% (computed on equal to the basis of a year of 360 days and the actual number of days elapsed) times Applicable Rate multiplied by the actual daily aggregate outstanding principal amount Outstanding Amount of Loans and L/C Obligations on each day that such aggregate amount Outstanding Amount exceeds 7533% of the Aggregate Commitments. The utilization fee shall be due and payable quarterly in arrears on the last day Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the later of the Termination Date and the date on which the Obligation have been paid in fullMaturity Date. The utilization fee shall be calculated quarterly in arrears. The utilization fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV is not met.

Appears in 1 contract

Samples: Credit Agreement (Granite Construction Inc)

Utilization Fee. The Borrower shall pay to the Administrative Agent for the ratable account of each LenderLender in accordance with its Pro Rata Share, a utilization fee of 0.125% (computed on equal to the basis of a year of 360 days and the actual number of days elapsed) Applicable Rate times the actual daily aggregate outstanding principal amount Outstanding Amount of Loans and L/C Obligations on each day that such aggregate amount Outstanding Amount exceeds 7550% of the Aggregate Commitments. The utilization fee payable to each Lender shall be due and payable quarterly in arrears on the last day Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the later of the Termination Maturity Date and the date on which the Obligation have been paid in fullfor such Lender. The utilization fee shall be calculated quarterly in arrears. The utilization fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV is not met.

Appears in 1 contract

Samples: Credit Agreement (Sunoco Logistics Partners Lp)

Utilization Fee. The Borrower shall pay to the Administrative Agent for the ratable account of each Lender (including the Swing Line Lender) in accordance with its ratable share of Total Outstandings, a utilization fee of 0.125% (computed on the basis of a year of 360 days and the actual number of days elapsed) per annum times the actual daily aggregate outstanding principal amount of Loans and L/C Obligations Total Outstandings on each day that such aggregate amount exceeds 75the Total Outstandings exceed 50% of the Commitmentsactual daily amount of the Aggregate Commitments then in effect (or, if terminated, in effect immediately prior to such termination). The utilization fee shall be due and payable quarterly in arrears on the last day Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the later of the Termination Date and the date on which the Obligation have been paid in fullMaturity Date. The utilization fee shall be calculated quarterly in arrears. The utilization fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV is not met.

Appears in 1 contract

Samples: Credit Agreement (McClatchy Co)

Utilization Fee. The Borrower shall pay to the Administrative Agent for the ratable account of each LenderLender in accordance with its Pro Rata Share, a utilization fee of 0.125% (computed on equal to the basis of a year of 360 days and the actual number of days elapsed) times Applicable Rate multiplied by the actual daily aggregate outstanding principal amount Outstanding Amount of Loans and L/C Obligations on each day that such aggregate amount Outstanding Amount exceeds 7533.00% of the Aggregate Commitments. The utilization fee shall be due and payable quarterly in arrears on the last day Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the later of the Termination Date and the date on which the Obligation have been paid in fullMaturity Date. The utilization fee shall be calculated quarterly in arrears. The utilization fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV is not met.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Granite Construction Inc)

Utilization Fee. The Borrower shall pay to the Administrative Agent --------------- for the ratable account of each LenderLender in accordance with its Pro Rata Share, a utilization fee of 0.125% (computed on equal to the basis of a year of 360 days and the actual number of days elapsed) Applicable Rate times the actual daily aggregate outstanding principal amount Outstanding Amount of Loans and L/C Obligations on each day that such aggregate amount Outstanding Amount exceeds 7550% of the Aggregate Commitments. The utilization fee shall be due and payable quarterly in arrears on the last day Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Conditions Effective Date, and on the later of the Termination Date and the date on which the Obligation have been paid in fullMaturity Date. The utilization fee shall be calculated quarterly in arrears. The utilization fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV is not met.

Appears in 1 contract

Samples: Credit Agreement (Sunoco Logistics Partners Lp)

Utilization Fee. The Borrower shall pay to the Administrative Agent for the ratable account of each LenderLender in accordance with its Pro Rata Share, a utilization fee of 0.125% (computed on equal to the basis of a year of 360 days and the actual number of days elapsed) Applicable Rate times the actual daily aggregate outstanding principal amount Outstanding Amount of Loans and L/C Obligations on each day that such aggregate amount Outstanding Amount exceeds 7550% of the Aggregate Commitments. The utilization fee shall be due and payable quarterly in arrears on the last day Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the later of the Termination Date and the date on which the Obligation have been paid in fullMaturity Date. The utilization fee shall be calculated quarterly in arrears. The utilization fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV is not met.

Appears in 1 contract

Samples: Credit Agreement (Sunoco Logistics Partners Lp)

Utilization Fee. The Borrower shall pay to the Administrative Agent for the ratable account of each LenderLender in accordance with its Pro Rata Share, a utilization fee of 0.125% (computed on equal to the basis of a year of 360 days and the actual number of days elapsed) times Applicable Rate multiplied by the actual daily aggregate outstanding principal amount Outstanding Amount of Loans and L/C Obligations on each day that such aggregate amount Outstanding Amount exceeds 7550.00% of the Aggregate Commitments. The utilization fee shall be due and payable quarterly in arrears on the last day Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the later of the Termination Date and the date on which the Obligation have been paid in fullMaturity Date. The utilization fee shall be calculated quarterly in arrears. The utilization fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV is not met.

Appears in 1 contract

Samples: Credit Agreement (Granite Construction Inc)

AutoNDA by SimpleDocs

Utilization Fee. The Borrower shall pay to the Administrative Agent for the ratable account of each LenderLender in accordance with its Applicable Percentage, a utilization fee of 0.125% (computed on in Dollars equal to the basis of a year of 360 days and the actual number of days elapsed) Applicable Rate times the actual daily aggregate outstanding principal amount of Loans and L/C Obligations Total Outstandings on each day that such aggregate amount exceeds 75the Total Outstandings exceed 50% of the Commitmentsactual daily amount of the Aggregate Commitments then in effect (or, if terminated, in effect immediately prior to such termination). The utilization fee shall be due and payable quarterly in arrears on the last day Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the later last day of the Termination Date and the date on which the Obligation have been paid in fullAvailability Period. The utilization fee shall be calculated quarterly in arrears. The utilization fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV is not met.

Appears in 1 contract

Samples: Revolving Credit Agreement (Teradata Corp /De/)

Utilization Fee. The Borrower shall pay to the Administrative Agent for the ratable account of each LenderLender in accordance with its Applicable Percentage, a utilization fee of 0.125% (computed on the basis of a year of 360 days and the actual number of days elapsed) per annum times the actual daily aggregate outstanding principal amount of Loans and L/C Obligations Total Outstandings on each day that such aggregate amount exceeds 75the Total Outstandings exceed 50% of the Commitmentsactual daily amount of the Aggregate Commitments then in effect (or, if terminated, in effect immediately prior to such termination). The utilization fee shall be due and payable quarterly in arrears on the last day Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the later of the Termination Date and the date on which the Obligation have been paid in fullMaturity Date. The utilization fee shall be calculated quarterly in arrears. The utilization fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV is not met.

Appears in 1 contract

Samples: Credit Agreement (Delphi Financial Group Inc/De)

Utilization Fee. The Borrower shall pay to the Administrative Agent for --------------- the ratable account of each LenderLender in accordance with its Pro Rata Share, a utilization fee of 0.125% (computed on equal to the basis of a year of 360 days and the actual number of days elapsed) Applicable Rate times the actual daily aggregate outstanding principal amount Outstanding Amount of Loans and L/C Obligations on each day that such aggregate amount Outstanding Amount exceeds 7550% of the Aggregate Commitments. The utilization fee shall be due and payable quarterly in arrears on the last day Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Conditions Effective Date, and on the later of the Termination Date and the date on which the Obligation have been paid in fullMaturity Date. The utilization fee shall be calculated quarterly in arrears. The utilization fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV is not met.

Appears in 1 contract

Samples: Credit Agreement (Sunoco Logistics Partners Lp)

Utilization Fee. The Borrower shall pay to the Administrative Agent for the ratable account of each LenderLender in accordance with its Applicable Percentage, a utilization fee in US Dollars of 0.125% (computed on the basis of a year of 360 days and the actual number of days elapsed) per annum times the actual daily aggregate outstanding principal amount of Loans and L/C Obligations Total Outstandings on each day that such aggregate amount exceeds 75the Total Outstandings exceed 50% of the Commitmentsactual daily amount of the Aggregate Commitments then in effect (or, if terminated, in effect immediately prior to such termination). The utilization fee shall be due and payable quarterly in arrears on the last day Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the later of the Termination Date and the date on which the Obligation have been paid in fullMaturity Date. The utilization fee shall be calculated quarterly in arrears. The utilization fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV is not met.

Appears in 1 contract

Samples: Credit Agreement (Ceridian Corp /De/)

Time is Money Join Law Insider Premium to draft better contracts faster.