Common use of Ticking Fee Clause in Contracts

Ticking Fee. The Borrower shall pay to the Administrative Agent for the account of each Term Loan Lender (other than any Defaulting Lender) a ticking fee (each, a “Ticking Fee”) in accordance with this Section 2.08(b). The Ticking Fee with respect to each Term Loan Lender shall accrue from (i) the later of (A) the date occurring ninety (90) days following the Closing Date and (B) the date of effectiveness of any Assignment and Acceptance or Accession Agreement, as applicable, pursuant to which it became a Term Loan Lender until (ii) the earliest of (A) the last day of the Delayed Draw Period, (B) the date on which the full amount of the Term Loan Facility is advanced to the Borrower, (C) the date of termination by the Borrower of all of the unfunded portions of the Term Loan Commitments and (D) the date of effectiveness of any Assignment and Acceptance or Accession Agreement, as applicable, pursuant to which it ceases to be a Term Loan Lender (such date, the “Ticking Fee Accrual Date”) at a rate per annum of 0.15% of the daily average of the unfunded portion of such Term Loan Lender’s Term Loan Commitment during the applicable period and shall be payable to the Administrative Agent quarterly in arrears (and on the Ticking Fee Accrual Date) for the account of such Term Loan Lender. The Ticking Fees will be calculated on a 360‑day basis.

Ticking Fee. The Borrower shall pay to the Administrative Agent for the account of each Term Loan Lender (other than any Defaulting Lender) the Lenders a ticking fee payable in arrears on the earlier of the Funding Date and the Termination Date and, in addition, if neither the Funding Date nor the Termination Date has occurred prior to such date, on April 30, 1998, (eachA) for the period commencing February 27, a “Ticking Fee”) in accordance with this Section 2.08(b). The Ticking Fee with respect to each Term Loan Lender shall accrue from 1998 until the earliest of (i) the later of Funding Date, (Aii) April 30, 1998 and (iii) the date occurring ninety Termination Date, at the rate of 25 basis points per annum (90calculated on the basis of a 360-day year) days following on the Closing Date sum of the aggregate Commitments of each Lender hereunder and (B) for the date period commencing May 1, 1998 until the earlier of effectiveness of any Assignment (i) the Funding Date and Acceptance or Accession Agreement, as applicable, pursuant to which it became a Term Loan Lender until (ii) the earliest Termination Date, at the rate of 37.5 basis points per annum (Acalculated on the basis of a 360-day year) on the last day sum of the Delayed Draw Periodaggregate Commitments of each Lender hereunder; provided, (B) the date on which the full amount however, that any ticking fee accrued with respect to any of the Term Loan Facility is advanced Commitments of a Defaulting Lender during the period prior to the Borrower, (C) the date of termination time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrower of all to such Defaulting Lender so long as such Lender shall be a Defaulting Lender except to the extent that such ticking fee shall otherwise have been due and payable by the Borrower prior to such time; and provided further that no ticking fee shall accrue on any of the unfunded portions Commitments of the Term Loan Commitments and (D) the date of effectiveness of any Assignment and Acceptance or Accession Agreement, a Defaulting Lender so long as applicable, pursuant to which it ceases to such Lender shall be a Term Loan Lender (such date, the “Ticking Fee Accrual Date”) at a rate per annum of 0.15% of the daily average of the unfunded portion of such Term Loan Defaulting Lender’s Term Loan Commitment during the applicable period and shall be payable to the Administrative Agent quarterly in arrears (and on the Ticking Fee Accrual Date) for the account of such Term Loan Lender. The Ticking Fees will be calculated on a 360‑day basis.

Ticking Fee. The Borrower shall pay to the Administrative Agent for the account of each Term Loan Lender (other than any Defaulting Lender) a ticking fee (each, a “Ticking Fee”) in accordance with this Section 2.08(b). The Ticking Fee with respect to each Term Loan Lender shall accrue from (i) the later of (A) the date occurring ninety (90) days following the Closing Date and (B) the date of effectiveness of any Assignment and Acceptance or Accession Agreement, as applicable, pursuant to which it became a Term Loan Lender until (ii) the earliest of (A) the last day of the Delayed Draw Period, (B) the date on which the full amount of the Term Loan Facility is advanced to the Borrower, (C) the date of termination by the Borrower of all of the unfunded portions of the Term Loan Commitments and (D) the date of effectiveness of any Assignment and Acceptance or Accession Agreement, as applicable, pursuant to which it ceases to be a Term Loan Lender (such date, the “Ticking Fee Accrual Date”) at a rate per annum of 0.150.20% of the daily average of the unfunded portion of such Term Loan Lender’s Term Loan Commitment during the applicable period and shall be payable to the Administrative Agent quarterly in arrears (and on the Ticking Fee Accrual Date) for the account of such Term Loan Lender. The Ticking Fees will be calculated on a 360‑day basis.