Non-Use Fees definition

Non-Use Fees means a monthly fee equal to one half of one percent (0.50%) of the difference between (1) the aggregate Revolving Line Commitments, and (2) the average outstanding principal balance of the Revolving Advances during the applicable month, which fee shall be payable monthly in arrears and shall be nonrefundable.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Non-Use Fees means (i) if the Second Tranche Milestone Event occurs but the Term B Loans are not drawn prior to the end of the Second Draw Period, a fully earned, non-refundable non-use fee equal to Two Hundred Fifty Thousand Dollars ($250,000.00), which non-use fee shall be due and payable on the last day of the Second Draw Period; and (ii) if the Third Tranche Milestone Event occurs but the Term C Loans are not drawn prior to the end of the Third Draw Period, a fully earned, non-refundable non-use fee equal to Two Hundred Fifty Thousand Dollars ($250,000.00), which non-use fee shall be due and payable on the last day of the Third Draw Period.

Non-Use Fees means, for any date of determination, the sum of (x) the Class A Non-Use Fee and (y) the Class B Non-Use Fee.

Examples of Non-Use Fees in a sentence

Such Non-Use Fees shall accrue from and including the Effective Date to and excluding the Termination Date and be payable in arrears (x) at all times prior to the Termination Date, on an annual basis for each year, on the 20th day of the next succeeding January and (y) on the Termination Date.
The quarterly Non-Use Fees shall be due and payable in arrears with respect to the prior quarter on the first day of each January, April, July and October hereafter through the Maturity Date.
The quarterly Non-Use Fees shall be fully earned as they accrue and if not paid timely by Borrower, at the option of the Agent, shall be paid by Advances pursuant to Section 2.1, without prior demand by the Agent.
Pro-rated Non-Use Fees shall be due and payable on the first day of the quarter following the Closing Date and on the Maturity Date.
On the Termination Date, the Borrower shall, subject to Section 2.09, fully repay any Downgrade Advance or Non-Extension Advance remaining outstanding, together with accrued interest (including accrued Liquidity Facility Non-Use Fees) to the Initial Liquidity Facility Provider.
Any such prepayment of the Invested Amount shall be accompanied by a payment of (i) accrued and unpaid interest on the Funded Amount (or the portion thereof that is being prepaid) through the Refinancing Date, plus (ii) any accrued and unpaid Class A Non-Use Fees and Class A Additional Amounts in respect of the Funded Amount (or portion thereof that is being prepaid) through the Refinancing Date.
Pro-rated Non-Use Fees shall be due and payable to the Lenders on the Closing Date based on the Commitments and outstanding amounts under the Existing Agreement.
Notwithstanding the foregoing, all Non-Use Fees shall be calculated and payable on the effective date of any termination of the obligations of the Lenders to make Loans hereunder with respect to any partial calendar quarter.
Concurrently with any reduction of the Revolving Commitment to zero, the Company shall pay all interest on the Revolving Loans, all Non-Use Fees and all letter of credit fees and shall Cash Collateralize in full all L/C Obligations.
Upon its receipt of such notice, Seller shall, at its option and in its sole and absolute discretion, either (1) terminate all of the Transactions and repurchase all of the Purchased Assets without being required to pay any Non-Use Fees or (2) agree to such Benchmark Replacement.

More Definitions of Non-Use Fees

Non-Use Fees means, collectively, the Facility Insurer Non-Use Fee and the Lender Non-Use Fee.

Non-Use Fees means the fees payable to the Agent for the ------------ ratable benefit of the Banks by the Borrower pursuant to Section 2.11.

Non-Use Fees means such term as defined in Section 4.5.

Non-Use Fees means the fees payable to the Bank by the Borrower ------------ pursuant to Section 2.11.