Common use of 3Commitment Fees Clause in Contracts

3Commitment Fees. Accruing for each day from the Funding Date until the Expiration Date (and without regard to whether the conditions to making Revolving Credit Loans are then met), the Borrower agrees to pay to the Administrative Agent for the account of each Lender according to its Ratable Share, a nonrefundable commitment fee (the “Commitment Fee”) equal to the Applicable Margin for such day (computed on the basis of a year of three hundred sixty (360) days and actual days elapsed) multiplied by the difference for such day between the amount of (a) the Revolving Credit Commitments minus (b) the Revolving Facility Usage (provided, however, that solely in connection with determining the share of each Lender in the Commitment Fee, the Revolving Facility Usage with respect to the portion of the Commitment Fee allocated to PNC shall include the full amount of the outstanding Swingline Loans, and with respect to the portion of the Commitment Fee allocated by the Administrative Agent to all of the Lenders other than PNC, such portion of the Commitment Fee shall be calculated (according to each such Lender’s Ratable Share) as if the Revolving Facility Usage excludes the outstanding Swingline Loans); provided that no Defaulting Lender shall be entitled to receive any Commitment Fee for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such Commitment Fee that otherwise would have been required to have been paid to that Defaulting Lender). Subject to the proviso in the directly preceding sentence, all Commitment Fees shall be payable in arrears on each Payment Date.

Appears in 1 contract

Samples: Credit Agreement (Cadre Holdings, Inc.)

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3Commitment Fees. Accruing for each day from the Funding Date date hereof until the Expiration Date (and without regard to whether the conditions to making Revolving Credit Loans are then met)Date, the Borrower agrees Borrowers agree to pay to the Administrative Agent for the account of each Lender according to its Ratable Share, a nonrefundable commitment fee (the "Commitment Fee") equal to the Applicable Margin for such day Commitment Fee Rate (computed on the basis of a year of three hundred sixty (360) days 365 or 366 days, as the case may be, and actual days elapsed) multiplied by the average daily difference for such day between the amount of (ai) the Revolving Credit Commitments minus and (bii) the Revolving Facility Usage (provided, provided however, that solely in connection with determining the share of each Lender in the Commitment Fee, the Revolving Facility Usage with respect to the portion of the Commitment Fee allocated to PNC shall include the full amount of the outstanding Swingline LoansSwing Loans and, and with respect to the portion of the Commitment Fee allocated by the Administrative Agent to all of the Lenders other than PNC, such portion of the Commitment Fee shall be calculated (according to each such Lender’s 's Ratable Share) as if the Revolving Facility Usage excludes the outstanding Swingline Swing Loans); provided provided, further, that no any Commitment Fee accrued with respect to the Revolving Credit Commitment of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be entitled to receive any Commitment Fee for any period during which that Lender is a Defaulting Lender (and except to the Borrower shall not be required to pay any extent that such Commitment Fee that shall otherwise would have been required due and payable by the Borrowers prior to have been paid such time; and provided further that no Commitment Fee shall accrue with respect to that the Revolving Credit Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender). Subject to the proviso in the directly preceding sentence, all Commitment Fees shall be payable in arrears on each Payment DateDate and in U.S. Dollars.

Appears in 1 contract

Samples: Refinancing Credit Agreement (Westinghouse Air Brake Technologies Corp)

3Commitment Fees. Accruing for each day from the Funding Date date hereof until the Expiration Date (and without regard to whether the conditions to making Revolving Credit Loans are then met)Expiration Date, the Borrower agrees to pay to the Administrative Agent for the account of each Lender according to its Ratable Share, a nonrefundable commitment fee (the “Commitment Fee”) equal to the Applicable Margin for such day Commitment Fee Rate (computed on the basis of a year of three hundred sixty (360) days 365 or 366 days, as the case may be, and actual days elapsed) multiplied by the daily difference for such day between the amount of (ai) the Revolving Credit Commitments minus and (bii) the Dollar Equivalent amount of the Revolving Facility Usage (provided, provided however, that solely in connection with determining the share of each Lender in the Commitment Fee, the Revolving Facility Usage with respect to the portion of the Commitment Fee allocated to PNC shall include the full amount of the outstanding Swingline Swing Loans, and with respect to the portion of the Commitment Fee allocated by the Administrative Agent to all of the Lenders other than PNC, such portion of the Commitment Fee shall be calculated (according to each such Lender’s Ratable Share) as if the Revolving Facility Usage excludes the outstanding Swingline Swing Loans); provided provided, further, that no any Commitment Fee accrued with respect to the Revolving Credit Commitment of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrower so long as such Lender shall be entitled to receive any Commitment Fee for any period during which that Lender is a Defaulting Lender (and except to the Borrower shall not be required to pay any extent that such Commitment Fee that shall otherwise would have been required due and payable by the Borrower prior to have been paid such time; and provided further that no Commitment Fee shall accrue with respect to that the Revolving Credit Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender). Subject to the proviso in the directly preceding sentence, all Commitment Fees shall be payable in arrears on each Payment DateDate and in U.S. Dollars.

Appears in 1 contract

Samples: Credit Agreement (Vertex, Inc.)

3Commitment Fees. Accruing for each day from the Funding Date until the Expiration Date (and without regard to whether the conditions to making Revolving Credit Loans are then met), the Borrower agrees to pay to the Administrative Agent for the account of each Lender according to its Ratable Share, a nonrefundable commitment fee (the “Commitment Fee”) equal to the Applicable Margin for such day (computed on the basis of a year of three hundred sixty (360) days and actual days elapsed) multiplied by the difference for such day between the amount of (a) the Revolving Credit Commitments minus (b) the Revolving Facility Usage (provided, however, that solely in connection with determining the share of each Lender in the Commitment Fee, the Revolving Facility Usage with respect to the portion of the Commitment Fee allocated to PNC shall include the full amount of the outstanding Swingline Loans, and with respect to the portion of the Commitment Fee allocated by the Administrative Agent to all of the Lenders other than PNC, such portion of the Commitment Fee shall be calculated (according to each such Lender’s Ratable Share) as if the Revolving Facility Usage excludes the outstanding Swingline Loans); provided that no Defaulting Lender shall be entitled to receive any Commitment Fee for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such Commitment Fee that otherwise would have been required to have been paid to that Defaulting Lender). Subject to the proviso in the directly preceding sentence, all Commitment Fees shall be payable in arrears on each Payment Date.. ​ ​

Appears in 1 contract

Samples: Credit Agreement (Cadre Holdings, Inc.)

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3Commitment Fees. Accruing for each day from the Funding Date date hereof until the Expiration Date (and without regard to whether the conditions to making Revolving Credit Loans are then met)Expiration Date, the Borrower agrees Borrowers agree to pay to the Administrative Agent for the account of each Lender according to its Ratable Share, a nonrefundable commitment fee (the “Commitment Fee”) equal to the Applicable Margin for such day Commitment Fee Rate (computed on the basis of a year of three hundred sixty (360) days 365 or 366 days, as the case may be, and actual days elapsed) multiplied by the average daily difference for such day between the amount of (ai) the Revolving Credit Commitments minus and (bii) the Revolving Facility Usage (provided, provided however, that solely in connection with determining the share of each Lender in the Commitment Fee, the Revolving Facility Usage with respect to the portion of the Commitment Fee allocated to PNC shall include the full amount of the outstanding Swingline Swing Loans, and with respect to the portion of the Commitment Fee allocated by the Administrative Agent to all of the Lenders other than PNC, such portion of the Commitment Fee shall be calculated (according to each such Lender’s Ratable Share) as if the Revolving Facility Usage excludes the outstanding Swingline Swing Loans); provided provided, further, that no any Commitment Fee accrued with respect to the Revolving Credit Commitment of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be entitled to receive any Commitment Fee for any period during which that Lender is a Defaulting Lender (and except to the Borrower shall not be required to pay any extent that such Commitment Fee that shall otherwise would have been required due and payable by the Borrowers prior to have been paid such time; and provided further that no Commitment Fee shall accrue with respect to that the Revolving Credit Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender). Subject to the proviso in the directly preceding sentence, all Commitment Fees shall be payable in arrears on each Payment Date.. DMFIRM #404836892 v17 37

Appears in 1 contract

Samples: Credit Agreement (Healthcare Services Group Inc)

3Commitment Fees. Accruing for each day from the Funding Date date hereof until the Expiration Date (and without regard to whether the conditions to making Revolving Credit Loans are then met)Maturity Date, the Borrower agrees Borrowers agree to pay to the Administrative Agent for the account of each Lender according to its Ratable Share, a nonrefundable commitment fee (the “Commitment Fee”) equal to the Applicable Margin for such day Commitment Fee Rate (computed on the basis of a year of three hundred sixty (360) days 365 or 366 days, as the case may be, and actual days elapsed) multiplied by the average daily difference for such day between the amount of (ai) the Revolving Credit Commitments minus and (bii) the Dollar Equivalent amount of the Revolving Facility Usage (provided, provided however, that solely in connection with determining the share of each Lender in the Commitment Fee, the Revolving Facility Usage with respect to the portion of the Commitment Fee allocated to PNC shall include the full amount of the outstanding Swingline Swing Loans, and with respect to the portion of the Commitment Fee allocated by the Administrative Agent to all of the Lenders other than PNC, such portion of the Commitment Fee shall be calculated (according to each such Lender’s Ratable Share) as if the Revolving Facility Usage excludes the outstanding Swingline Swing Loans); provided provided, further, that no any Commitment Fee accrued with respect to the Revolving Credit Commitment of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be entitled to receive any Commitment Fee for any period during which that Lender is a Defaulting Lender (and except to the Borrower shall not be required to pay any extent that such Commitment Fee that shall otherwise would have been required due and payable by the Borrowers prior to have been paid such time; and provided further that no Commitment Fee shall accrue with respect to that the Revolving Credit Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender). Subject to the proviso in the directly preceding sentence, all Commitment Fees shall be payable in arrears on each Payment Date.Date and in U.S. Dollars or an Optional Currency selected by the Administrative Agent in its sole discretion. 50

Appears in 1 contract

Samples: Credit Agreement (Steel Partners Holdings L.P.)

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