Examples of Unutilized Commitment in a sentence
Notwithstanding anything to the contrary contained herein, the aggregate principal amount of each Borrowing shall not be less than $1,000,000 or, if greater, an integral multiple of $500,000 in excess thereof (or, if less, in the amount of the Unutilized Commitment).
Upon at least five Business Days' prior notice to the Bank at its Notice Office, any Borrower (with the unanimous consent of each Borrower hereunder) shall have the right, without premium or penalty, to terminate the Unutilized Commitment in whole or in part, in integral multiples of $5,000,000.
From and after the Effective Date until the Termination Date (or such later date that the Loans are repaid), the Borrower agrees to pay Lender a non-usage fee for each calendar quarter, prorated for partial quarters, in an amount equal to the Applicable Percentage multiplied by the average daily Unutilized Commitment (the "Non-Usage Fee") multiplied by the number of days in such quarter or portion thereof and divided by 360.
The Borrower shall pay to the Agent for the ratable account of each Bank a commitment fee calculated at the rate of one-fifth of one percent (.20%) per annum on the daily average amount of such Bank's Unused Commitment during each Fiscal Quarter (collectively, the "Unutilized Commitment Fees").
In the case of any period not constituting a full Fiscal Quarter (specifically including both the initial and final Fiscal Quarters within which the Commitment is available), the amount of the Unutilized Commitment Fees shall be prorated and shall be payable only for the period in which the Commitment is available.