Common use of Utilization Fees Clause in Contracts

Utilization Fees. (i) During any period when the aggregate outstanding principal amount of the Loans exceeds 50% of the aggregate amount of the Commitments or the Commitments have been terminated but Loans are outstanding, the Borrower shall, unless Minimum Rating Status exists, pay to the Agent for the account of each Bank utilization fees at a rate of 0.125% per annum. Such utilization fee shall accrue on the average daily aggregate outstanding principal amount of such Bank's Loans and shall be payable on each January 1, April 1, July 1, and October 1 and on the date the Commitments are terminated (and, if later, on the date the Loans shall be repaid in their entirety); provided that any utilization fees accruing after the first anniversary of the Commitment Termination Date shall be payable on demand.

Utilization Fees. (i) During any period when the aggregate outstanding principal amount of the Loans exceeds 50% of the aggregate amount of the Commitments or the Commitments have been terminated but Loans are outstanding, the Borrower shall, unless Minimum Rating Status (as defined below) exists, pay to the Agent for the account of each Bank utilization fees at a rate of 0.125% per annum. Such utilization fee shall accrue on the average daily aggregate outstanding principal amount of such Bank's Loans during such period and shall be payable on each January 1, April 1, July 1, and October 1 and on the date the Commitments are terminated (and, if later, on the date the Loans shall be repaid in their entirety); provided that any utilization fees accruing after the first anniversary of the Commitment Termination Date shall be payable on demand.