Unused Facility Fee Clause Examples
An Unused Facility Fee clause requires a borrower to pay a fee on the portion of a credit facility that remains undrawn or unused during a specified period. Typically, this fee is calculated as a percentage of the unused commitment and is charged periodically, such as quarterly or annually, regardless of whether the borrower actually draws on the available funds. The core purpose of this clause is to compensate the lender for reserving funds and maintaining the availability of credit, thereby discouraging borrowers from holding large, unused credit lines without cost.
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Unused Facility Fee. A quarterly Unused Facility Fee equal to one quarter of one percent (0.25%) per annum of the difference between the Revolving Line and the average outstanding principal balance of Advances during the applicable quarter, which fee shall be payable within five (5) days of the last day of each such quarter and shall be nonrefundable; and
Unused Facility Fee. Borrower will pay the Unused Facility Fee on the last day of each calendar quarter; such fee will be non-refundable and fully earned when paid. Borrower hereby authorizes CNB to charge the Demand Deposit Account or Borrower’s Loan Account for the amount of each such fee.
Unused Facility Fee. For each calendar quarter during the Availability Period beginning on January 1, 2022, the Borrowers shall pay to the Lender an Unused Facility Fee. Each Unused Facility Fee shall be payable in arrears within fifteen (15) Business Days following the end of the applicable calendar quarter, and any unpaid portion thereof shall be immediately due and payable upon any acceleration of the Obligations hereunder or upon the Final Maturity Date.
Unused Facility Fee. So long as this Agreement is in effect, Borrower will pay to Bank an unused facility fee at an annual rate equal to one-quarter of one percent (.25%) of that portion of the Facility that is not outstanding on each day (the "Unused Facility Fee"), which will be payable on the first (1st) day of each calendar month in arrears for the previous calendar month with a final payment due on the termination of this Agreement.
Unused Facility Fee. The Borrower agrees to pay to the Agent, for the ratable benefit of the Lenders, an unused facility fee (the “Unused Facility Fee”) in an amount equal to the product of (i) the average daily unused portion of the Revolving Committed Amount, as the same may be reduced from time to time hereunder, (computed on a quarterly basis in arrears as of the last day of each June, September, December and March commencing on the last day of the calendar quarter during which the Closing Date occurs, based upon the daily utilization for that quarter as calculated by the Agent) multiplied by (ii) the Applicable Percentage divided by four. The Unused Facility Fee shall be due and payable quarterly in arrears on the last day of each June, September, December and March commencing on the last day of the calendar quarter during which the Closing Date occurs, through the Revolving Termination Date (provided, that if the last day of any such quarter is not a Business Day, then such payment shall be due on the first Business Day thereafter). The Unused Facility Fee shall be fully earned and payable on each such payment date. For purposes of computing the Unused Facility Fee under this subsection 3.4(b), usage of the Swing Line Sublimit shall not be considered usage of the Revolving Committed Amount.
Unused Facility Fee. The Borrowers shall pay to the Administrative Agent for the account of the Revolving Credit Lenders in accordance with their Applicable Percentages, an unused facility fee (the “Unused Facility Fee”) equal to the Unused Facility Fee Rate times the daily average amount of Overall Unused Amount for the applicable calendar month for which such Unused Facility Fee is due. The Unused Facility Fee shall accrue at all times during the term of this Agreement that Revolving Credit Commitments are outstanding, including at any time during which one or more of the conditions in Article IV is not met, and shall be calculated and due and payable monthly in arrears on the first day of each calendar month, commencing with the first such date to occur after the Amendment Effective Date, and on the Maturity Date;
Unused Facility Fee. From the date hereof, Borrower agrees to pay to Lender a quarterly unused facility fee, equal to one-quarter percent (0.25%) per annum of the average daily unused portion of the Commitment, payable quarterly in arrears, the first payment being due on July l, 1997 and continuing on the first day of each July, October, January and April thereafter during the term of this Agreement and upon the termination hereof.
Unused Facility Fee. The Borrower will pay to Lender an unused facility fee of one-quarter percent (1/4%) on the unused portion of the Revolving Loan, which fee shall be paid monthly in arrears.
Unused Facility Fee. Pay the Unused Facility Fee when due.
Unused Facility Fee. 0.5% p.a. of the amount of the available but unused amount of the Settlement Account.