Definition of Applicable Unused Facility Fee Margin
Applicable Unused Facility Fee Margin means, as of any date of determination, a percentage per annum equal to (a) 0.50%, for any period the Usage is equal to or less than 50% of the Aggregate Revolving Loan Commitment, and (b) 0.375%, for any period the Usage is greater than 50% of the Aggregate Revolving Loan Commitment. The Applicable Unused Facility Margin will be adjusted quarterly on the first date of each Fiscal Quarter, on a prospective basis, based on the Usage for the immediately preceding Fiscal Quarter (as determined as of such date by Agent).
Examples of Applicable Unused Facility Fee Margin in a sentence
An Unused Facility Fee in an amount equal to the Applicable Unused Facility Fee Margin on the average unused daily balance of the Revolving Credit Facility, payable quarterly in arrears to Agent for the account of each of the Lenders under the Revolving Credit Facility on the first day of each calendar quarter.
Facility Fee equal to the Applicable Unused Facility Fee Margin (calculated on the basis of a 360-day year and actual days elapsed) on the average unused daily balance of the Exit Facility Revolver, payable to Exit Facility Agent monthly in arrears.