Common use of Canadian Unused Line Fee Clause in Contracts

Canadian Unused Line Fee. Canadian Borrower shall pay to Agent, for the Pro Rata benefit of Canadian Lenders, a fee equal to the Unused Line Fee Rate times the amount by which the Canadian Revolver Commitments exceed the average daily Canadian Revolver Usage during any month. Such fee shall be payable in arrears, on the first day of each month and on the Canadian Commitment Termination Date.

Canadian Unused Line Fee. Canadian Borrower Borrowers shall pay to Agent, for the Pro Rata benefit of Canadian Lenders, a fee equal to the Unused Line Fee Rate 0.375% per annum times the average daily amount by which the Canadian Revolver Commitments exceed the average daily Canadian Revolver Usage Exposure during any month; provided, that such fee shall reduce to 0.25% per annum for any month during which the average daily amount of the Canadian Revolver Exposure exceeded 50% of the Canadian Revolver Commitments. Such fee shall be payable in arrears, on the first day of each month and on the Canadian Revolver Commitment Termination Date.