12Non-Use Fee Sample Clauses

12Non-Use Fee. If during any calendar month between the period beginning one year after the Effective Date (as defined in the Receivables Loan Agreement) and ending on the last day of the calendar month in which the Borrowing Term (as defined in the Receivables Loan Agreement) expires, the highest combined unpaid principal balance of the Loan and the Receivables Loan during such calendar month is at any time less than $28,000,000, then within five Business Days following the end of any such calendar month, Borrower shall pay to Lender a non-use fee (the "Non-Use Fee") of one-half percent (.5%) per annum on the difference between $28,000,000 and the largest combined unpaid principal balance during such calendar month then ended under the Loan and the Receivables Loan. However, in the event the combined unpaid principal balance of this Loan and the Receivables Loan is equal to or greater than $28,000,000 during such calendar month, then no Non‑Use Fee shall be due and payable. The Non-Use Fee under this Agreement is the same Non-Use Fee payable under the Receivables Loan and only one Non-Use Fee is payable.
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12Non-Use Fee. If during any calendar month between the period beginning one year after the Effective Date (as defined in the Receivables Loan Agreement) and ending on the last day of the calendar month in which the Borrowing Term (as defined in the Receivables Loan Agreement) expires, the highest combined unpaid principal balance of the Loan and the Receivables Loan during such calendar month is at any time less than $30,000,000, then within five Business Days following the end of any such calendar month, Borrower shall pay to Lender a non-use fee (the "Non-Use Fee") of one-half percent (.5%) per annum on the difference between $30,000,000 and the largest combined unpaid principal balance during such calendar month then ended under the Loan and the Receivables Loan. However, in the event the combined unpaid principal balance of this Loan and the Receivables Loan is equal to or greater than $30,000,000 during such calendar month, then no Non‑Use Fee shall be due and payable (the foregoing covenant, the “Non-Use Fee Covenant”). The Non-Use Fee under this Agreement is the same Non-Use Fee payable under the Receivables Loan and only one Non-Use Fee is payable. Notwithstanding the foregoing, in the event Borrower prepays the Receivables Loan, in full or in part, from the proceeds of a Securitization, the Non-Use Fee Covenant will be suspended from the period commencing on the calendar month in which such prepayment occurs and ending on the calendar month 12 months thereafter. After the expiration of such 12-month period, the Non-Use Fee Covenant shall resume.  6284.98.1115736.11
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Related to 12Non-Use Fee

  • Non-Use Fee The Company agrees to pay to the Administrative Agent for the account of each Lender a non-use fee, for the period from the Closing Date to the Termination Date, at the Non-Use Fee Rate in effect from time to time of such Lender’s Pro Rata Share (as adjusted from time to time) of the unused amount of the Revolving Commitment. For purposes of calculating usage under this Section, the Revolving Commitment shall be deemed used to the extent of Revolving Outstandings. Such non-use fee shall be payable in arrears on the last day of each calendar quarter and on the Termination Date for any period then ending for which such non-use fee shall not have previously been paid. The non-use fee shall be computed for the actual number of days elapsed on the basis of a year of 360 days.

  • Base Fee The Company shall pay to the Advisor a quarterly base fee (the “Base Fee”) payable in arrears in cash, for services provided by the Advisor in the preceding quarter. For purposes of this Agreement, the “Base Fee” will be equal to 0.70% per annum of the Total Market Capitalization of the Company, subject to the payment of a minimum quarterly base fee (“Minimum Base Fee”), if applicable. For purposes of this Agreement, “Total Market Capitalization” shall be calculated on a quarterly basis as (i) the average of the volume-weighted average price per share of Ashford Prime’s common stock for each trading day of the preceding quarter multiplied by the average number of shares of Ashford Prime’s common stock outstanding during such quarter, on a fully-diluted basis (assuming all common units and long term incentive partnership units in the Operating Partnership which have achieved economic parity with common units in the Operating Partnership have been converted to common stock in the Company), plus (ii) the quarterly average of the aggregate principal amount of the Company’s consolidated indebtedness (including the Company’s proportionate share of debt of any entity that is not consolidated but excluding the Company’s joint venture partners’ proportionate share of consolidated debt), plus (iii) the quarterly average of the liquidation value of the Company’s outstanding preferred equity. The Minimum Base Fee for each quarter will be equal to the greater of (i) 90% of the Base Fee paid for the same quarter in the prior year and (ii) the G&A Ratio multiplied by the Company’s Total Market Capitalization. For purposes of this Agreement, the “G&A Ratio” will be calculated as the simple average of the ratios of total general and administrative expenses, less any non-cash expenses but including any dead deal costs, paid in the applicable quarter by each member of a select peer group set forth in Exhibit A (each, a “Peer Group Member” and collectively, the “Peer Group”), divided by the total enterprise value of such Peer Group Member (calculated in the same manner as the Company’s Total Market Capitalization). The G&A Ratio for each Peer Group Member will be calculated based on the financial information presented in such Peer Group Member’s Form 10-Q or 10-K periodic filings with the SEC following the end of each quarter. The Peer Group may be modified from time to time by mutual written agreement of the Advisor and a majority of the Independent Directors, negotiating in good faith. The Base Fee, as calculated above, shall be payable in arrears no later than the 15th day following the end of each quarter (i.e., one-fourth of 0.70% of the Total Market Capitalization of the Company). The Minimum Base Fee shall be calculated as soon as practicable following the end of the quarter, and to the extent the Minimum Base Fee exceeds the Base Fee paid to the Advisor with respect to any quarter, the Company will pay the Advisor the difference between Minimum Base Fee and the Base Fee within 5 business days of final calculation of the Minimum Base Fee. For purposes of payment of the Base Fee for a partial quarter relating to the first quarter in which this Agreement is effective or for the last quarter in which this Agreement is terminated, the Base Fee shall be calculated as 0.70% of the Total Market Capitalization of the Company, calculated using each trading day of such partial quarter prior to termination, multiplied by the number of days in the applicable quarter in which this Agreement is in effect divided by 365 or 366 days, as applicable. The Minimum Base Fee shall be similarly reduced proportionately based on the number of days in the applicable quarter in which this Agreement is in effect divided by 365 or 366 days, as applicable.

  • Renewal Fee Borrower agrees to pay a fee equal to one-quarter of one percent (0.25%) of the Bank’s committed amount for the Line of Credit upon any renewal of the Line of Credit.

  • Non-Utilization Fee The Borrower agrees to pay to the Bank a non-utilization fee equal to one-quarter of one percent (0.25%) of the total of (a) the Revolving Loan Commitment, minus (b) the sum of (i) the daily average of the aggregate principal amount of all Revolving Loans outstanding, plus (ii) the daily average of the aggregate amount of the Letter of Credit Obligations, which non- utilization fee shall be (A) calculated on the basis of a year consisting of 360 days, (B) paid for the actual number of days elapsed, and (C) payable monthly in arrears on the last day of each month, commencing on September 30, 2006, and on the Revolving Loan Maturity Date.

  • Non-Usage Fee The Borrower shall pay, in accordance with Section 2.04, pro rata to each Lender (either directly or through the applicable Lender Agent), a non-usage fee (the “Non-Usage Fee”) payable in arrears for each Remittance Period, equal to the sum of the products for each day during such Remittance Period of (i) one divided by 360, (ii) the applicable Non-Usage Fee Rate (as defined below) and (iii) the aggregate Commitments minus the Advances Outstanding on such day (such amount, the “Unused Portion”). The Non-Usage Fee Rate (the “Non-Usage Fee Rate”) shall be, from and after the Ninth Amendment Closing Date, (x) 0.50% on any Unused Portion up to or equal to an amount equal to 25% of the Maximum Facility Amount and (y) 2.00% on any Unused Portion in excess of such amount equal to 25% of the Maximum Facility Amount.