Common use of Utilization Fees Clause in Contracts

Utilization Fees. If at any time the aggregate principal amount of outstanding Revolving Loans exceeds an amount equal to fifty percent (50%) of the Revolving Committed Amount, each Borrower shall pay to the Administrative Agent, for the ratable benefit of the Lenders, a utilization fee (the "Utilization Fees") equal to the product of (i) the average daily aggregate principal amount of its outstanding Revolving Loans, calculated from the date the aggregate principal amount of all outstanding Revolving Loans exceeds an amount equal to fifty percent (50%) of the Revolving Committed Amount but excluding the date the aggregate principal amount of all outstanding Revolving Loans falls below an amount equal to fifty percent (50%), times (ii) a per annum percentage equal to the Applicable Percentage for Utilization Fees. The Utilization Fees shall be payable in arrears on the last Business Day of each Fiscal Quarter (as well as on the Maturity Date and on any date that the Revolving Committed Amount is reduced) for the Fiscal Quarter (or portion thereof) then ending, beginning with the first of such dates to occur after the Closing Date.

Utilization Fees. If at any time the aggregate principal amount of outstanding Revolving Loans exceeds an amount equal to fifty percent (50%) of the Revolving Committed Amount, each the Borrower shall pay to the Administrative Agent, for the ratable benefit of the Lenders, a utilization fee (the "Utilization Fees") equal to the product of (i) the average daily aggregate principal amount of its outstanding Revolving Loans, calculated from the date the aggregate principal amount of all outstanding Revolving Loans exceeds an amount equal to fifty percent (50%) of the Revolving Committed Amount but excluding the date the aggregate principal amount of all outstanding Revolving Loans falls below an amount equal to fifty percent (50%), times (ii) a per annum percentage equal to the Applicable Percentage for Utilization Fees. The Utilization Fees shall be payable in arrears on the last Business Day of each Fiscal Quarter (as well as on the Maturity Date and on any date that the Revolving Committed Amount is reduced) for the Fiscal Quarter (or portion thereof) then ending, beginning with the first of such dates to occur after the Closing Date.