Revolving Line of Credit Fee definition

Revolving Line of Credit Fee means the fee due the Agent for the benefit of the Lenders at the end of each month for the Revolving Line of Credit, in an amount equal to the product of the difference between the average daily amount of the Revolving Line of Credit and the sum of the average daily balance of outstanding Revolving Credit Loans and Other Letters of Credit during said month multiplied by 0.375% per annum for the number of days in said month divided by 360.
Sample 1
Revolving Line of Credit Fee means the fee due CIT at the end of each month for the Revolving Line of Credit, and shall be determined by multiplying the difference between (i) the Revolving Line of Credit and (ii) the average daily balance of Revolving Loans for said month, by one-half of one percent (0.50 %) per annum for the number of days in said month.
Sample 1
Revolving Line of Credit Fee means, for any month, the product obtained by multiplying (a) (i) the amount of the Revolving Line of Credit minus (ii) the average daily principal balance of Revolving Loans and the average daily undrawn amount of Letters of Credit outstanding during such month, times (b) the Applicable Revolving Line of Credit Fee Margin.
Sample 1

Examples of Revolving Line of Credit Fee in a sentence

  • On the first day of each month, commencing on July 1, 2006, (a) the Companies agree to pay to CIT the Revolving Line of Credit Fee, and (b) CIT shall charge the Companies for interest at the rate set forth in Section 8.1 (or Section 8.2, if applicable) hereof on the Collection Days for the immediately preceding month.

  • Upon the last Business Day of each month, commencing with the last day of the month in which this Agreement is executed, and on the Termination Date, the Borrower shall pay the Agent for the benefit of the Lenders the Revolving Line of Credit Fee.

  • Upon the last Business Day of each month, commencing with the last day of the month in which this Agreement is executed, the Companies shall jointly and severally pay the Agent for the benefit of the Lenders the Revolving Line of Credit Fee.

  • Section I of Schedule B of the Loan Agreement shall be and hereby is replaced with the following: Revolving Line of Credit Commitment Fee: $7,500.00 payable at Closing Unused Revolving Line of Credit Fee: 0.20% per annum of daily average of unadvanced amounts under Revolving Line of Credit Loan (based upon full availability of $15,000,000.00), determined and payable quarterly in arrears.

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More Definitions of Revolving Line of Credit Fee

Revolving Line of Credit Fee shall: (a) mean the fee due the Lender at the end of each month for the Revolving Line of Credit, and (b) be determined by multiplying the difference between (i) the Revolving Line of Credit, and (ii) the sum, for said month, of (x) the average daily balance of Revolving Loans plus (y) the average daily balance of Letters of Credit outstanding for said month, by three-eighths of one percent (3/8%) per annum for the number of days in said month. Revolving Loans shall mean the loans and advances made, from time to time, to or for the account of the Companies by the Lender pursuant to Section 4 of this Financing Agreement. Subordinated Debt shall mean all indebtedness of the Companies (and the notes evidencing such indebtedness) that is subordinated to the prior payment and satisfaction of the Obligations pursuant to subordination agreements and/or subordination provisions of the respective debt instruments in each case in form and substance reasonably satisfactory to the Lender. Subsidiaries shall mean the wholly-owned subsidiaries of any Company.
Sample 1
Revolving Line of Credit Fee is amended by deleting therefrom the words and figure “fifteen hundredths percent (0.15%)” and by substituting in lieu thereof the words and figure “one quarter percent (0.25%).”
Sample 1

Related to Revolving Line of Credit Fee

  • Revolving Line of Credit means the Commitments of the Lenders to make Revolving Loans pursuant to Section 3 of this Financing Agreement and assist the Companies in opening Letters of Credit, Bankers Acceptances, Steamship Guarantees and Airway Releases pursuant to Section 5 of this Financing Agreement, in an aggregate amount equal to $250,000,000.

  • Revolving Line is an Advance or Advances in an amount equal to Ten Million Dollars ($10,000,000).

  • Letter of Credit Fee has the meaning specified in Section 2.03(h).

  • Unused Revolving Line Facility Fee is defined in Section 2.4(d). [Signature page follows.]

  • Letter of Credit Fees shall have the meaning set forth in Section 3.2.

  • Revolving Credit Commitment Fee shall have the meaning assigned to such term in Section 2.05(a).

  • Revolving Credit Advance means an advance by a Bank to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance, each of which shall be a “Type” of Advance.

  • Revolving Commitment Fee has the meaning specified in Section 2.09(a).

  • Applicable Letter of Credit Fee Rate shall mean the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Letter of Credit Fee.” Applicable Margin shall mean, as applicable:

  • Revolving Credit Period means the period from and including the Effective Date to but excluding the Termination Date.

  • Letter of Credit Fee Rate means, at any time, the percentage rate per annum applicable to Letter of Credit Fees at such time as set forth in the Pricing Schedule.

  • Revolving Credit Advances has the meaning assigned to such term in Section 2.1.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Revolving Credit Limit has the meaning set forth in the Schedule.

  • Applicable Letter of Credit Fee Rate means the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Letter of Credit Fee.”

  • Revolving Credit Obligations means, at any particular time, the sum of (i) the outstanding principal amount of the Revolving Loans at such time, plus (ii) the outstanding principal amount of the Swing Line Loans at such time, plus (iii) the outstanding L/C Obligations at such time.

  • Letter of Credit Advance means an advance made by the Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c).

  • Revolving Credit Loan has the meaning specified in Section 2.01(b).

  • Revolving Advances means Advances made other than Letters of Credit.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • Commitment Fee has the meaning specified in Section 2.09(a).

  • Unused Revolving Credit Commitment means, with respect to any Lender at any date of determination, (a) such Lender’s Revolving Credit Commitment at such time minus (b) the sum of (i) the aggregate principal amount of all Revolving Credit Advances, Swing Line Advances and Letter of Credit Advances made by such Lender (in its capacity as a Lender) and outstanding at such time plus (ii) such Lender’s Pro Rata Share of (A) the aggregate Available Amount of all Letters of Credit outstanding at such time, (B) the aggregate principal amount of all Letter of Credit Advances made by the Issuing Banks pursuant to Section 2.03(c) and outstanding at such time and (C) the aggregate principal amount of all Swing Line Advances made by the Swing Line Bank pursuant to Section 2.01(c) and outstanding at such time.

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $10,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Revolving Facility Credit Exposure means, at any time, the sum of (a) the aggregate principal amount of the Revolving Facility Loans outstanding at such time, (b) the Swingline Exposure at such time and (c) any Revolving L/C Exposure at such time. The Revolving Facility Credit Exposure of any Lender at any time shall be the product of (x) such Lender’s Revolving Facility Percentage and (y) the aggregate Revolving Facility Credit Exposure of all Lenders, collectively, at such time.

  • Committed Revolving Line means a credit extension of up to Two Million Dollars ($2,000,000).