Common use of Utilization Margin Clause in Contracts

Utilization Margin. For each day from and after the date hereof to but not including the Revolving Termination Date on which the Aggregate Outstanding Credit Exposure exceeds fifty percent (50%) of the aggregate Commitments (or if all of the Commitments shall have been terminated, the aggregate Commitments in effect immediately prior to such termination), the interest rate otherwise applicable to the Loans and the LC Fee, respectively, shall be increased at a rate per annum equal to the Applicable Utilization Margin in effect from time to time. Such Applicable Utilization Margin shall (i) be computed on a quarterly basis in arrears on the last Business Day of each calendar quarter, (ii) accrue for all such days from the Closing Date to the date on which this Agreement is terminated and all of the Obligations hereunder have been paid in full, and (iii) be payable in arrears on the last Business Day of each such quarter commencing on the last Business Day of the fiscal quarter following the Closing Date through the date on

Utilization Margin. For each day from and after the date hereof to but not including the Revolving Termination Date on which the Aggregate Outstanding Credit Exposure exceeds fifty percent (50%) of the aggregate Commitments (or if all of the Commitments shall have been terminated, the aggregate Commitments in effect immediately prior to such termination), the interest rate otherwise applicable to the Loans and the LC Fee, respectively, shall be increased at by a rate per annum equal to the Applicable Utilization Margin in effect from time to time. Such Applicable Utilization Margin shall (i) be computed on a quarterly basis in arrears on the last Business Day of each calendar quarter, (ii) accrue for all such days from the Closing Date to the date on which this Agreement is terminated and all of the Obligations hereunder have been paid in full, and (iii) be payable in arrears on the last Business Day of each such quarter commencing on the last Business Day of the fiscal quarter following the Closing Date through the date onon which this Agreement is terminated and all of the Obligations hereunder have been paid in full, with the final payment, if applicable, to be made on the date on which this Agreement is terminated and all of the Obligations hereunder have been paid in full.