Commitment and Facility Fees. (a) During the period (the "Commitment Period") commencing on the Document Closing Date and ending on the earlier of the Final Completion Date and the Outside Completion Date, a fully-earned, nonrefundable commitment fee (the "Commitment Fee") payable by Lessee to Lessor shall accrue equal to forty-two and one half (42.5) basis points per annum on an amount equal to the daily unused portion of the aggregate Commitments during the Commitment Period. On each date which is three (3) Business Days prior to any Payment Date during the Commitment Period, Construction Agent shall be deemed to have requested an Advance in an amount equal to the Commitment Fee accrued for the month ending on such Payment Date. The Advance Date with respect to such accrued Commitment Fee shall be the relevant Payment Date (subject to the terms and conditions for an Advance set forth in this Participation Agreement) and the proceeds of such Advance shall be applied to pay accrued Commitment Fees. On such Advance Date, the Certificate Amounts shall be increased by an amount equal to the Certificate Purchasers' pro rata portion (in accordance with their respective Commitments) of the accrued Commitment Fee Funded on such date, the outstanding principal on the Notes shall be increased by an amount equal to the Lenders' pro rata portion (in accordance with their respective Commitments) of the accrued Commitment Fee Funded on such date, and the Commitment Fees so funded shall be allocated pro rata to the Site Balances for each Site based on the Available Commitment for such Site divided by the aggregate Available Commitments for all Sites as determined immediately prior to such funding; provided, however, that if an Advance hereunder would exceed the aggregate Available Commitments of the Participants, no Participant shall have any obligation to make any such Advance and the Required Participants shall have the right to declare a default under, inter alia, the Construction Agency Agreement and the Lease.
(b) Lessee shall pay a fully-earned, nonrefundable facility fee (the "Facility Fee") to Lessor equal to fifty (50) basis points on the aggregate Commitments. Such Facility Fee shall be due when aggregate Commitments sufficient to acquire the Sites and to construct the Financed Improvements have been received. On such date, Construction Agent shall be deemed to have requested an Advance in an amount equal to the Facility Fee. The Advance Date with respect to such Facility Fee shall be the ...
Commitment and Facility Fees. In addition to all other fees and expenses due to Lenders respecting the Revolving Loan, Borrower shall pay to the Administrative Agent for payment ratably to the Lenders (i) simultaneously with the execution and delivery of this Agreement, a facility fee equal to $60,000 and (ii) quarterly in arrears on the first business day of each calendar quarter commencing January 1, 1999, an unused commitment fee equal to an amount calculated by multiplying .000625 by the difference between the Revolving Loan Amount and the average daily balance outstanding respecting the Revolving Loan during the prior calendar quarter.
Commitment and Facility Fees. In consideration of each Lender's commitment to make Advances up to the amount of the Borrowing Base in effect from time to time, Borrower will pay to Agent for the account of each Lender a commitment fee determined on a daily basis by applying a rate of three-eighths of one percent (0.375%) per annum to such Lender's Percentage Share of the unused portion of the Borrowing Base on each day during the Commitment Period, determined for each such day by deducting from the Borrowing Base the aggregate unpaid principal balance of the Loans and outstanding LC Obligations at the end of such day. In addition, Borrower will pay to Agent for the account of each Lender a facility fee determined on a daily basis by applying a rate of one-eighth of one percent (0.125%) per annum to such Lender's Percentage Share of the excess, if any, of the Maximum Loan Amount over the Borrowing Base on each day during the Commitment Period, determined for each such day by deducting from the Maximum Loan Amount the Borrowing Base in effect at the end of such day. The commitment fee and the facility fee payable hereunder shall be due and payable in arrears on the last day of each Fiscal Quarter and at the end of the Commitment Period.
Commitment and Facility Fees. Company agrees to pay to Agent, for distribution to each Lender in proportion to that Lender's Pro Rata Share, (x) a facility fee for the period from and including the Closing Date to but excluding the Revolving Loan Commitment Termination Date (or such earlier date on which the Revolving Loan Commitment shall terminate as provided herein) computed at the applicable rate set forth below opposite the applicable Consolidated Leverage Ratio on the daily average amount of such Lender's aggregate Revolving Loan Commitment and (y) a commitment fee for the period from and including the Closing Date to but excluding the date on which the Tranche A Term Loan Commitment is fully drawn or terminated in accordance with this Agreement computed at the applicable rate set forth below on the daily average amount of such Lender's undrawn Tranche A Term Loan Commitment. Such facility fees and commitment fees to be calculated on the basis of a 365 or 366 day year and the actual number of days elapsed and to be payable quarterly in arrears on the fourth Business Day of each Janurary, April, July and October of each year, commencing on the first such date after the Closing Date, and on the Revolving Loan Commitment Termination Date or full utilization of the Tranche A Term Loan Commitment, respectively: CONSOLIDATED COMMITMENT CATEGORY LEVERAGE RATIO AND FACILITY FEE ------------------------------------------------------------------------------ 1 greater than or equal to 4.25 +50 bps ------------------------------------------------------------------------------ 2 greater than or equal to 3.25 Less than 4.25 +50 bps ------------------------------------------------------------------------------ 3 greater than or equal to 2.50 Less than 3.25 +37.5 bps ------------------------------------------------------------------------------ 4 greater than or equal to 2.00 Less than 2.50 +30 bps ------------------------------------------------------------------------------ 5 greater than 2.00 +25 bps ------------------------------------------------------------------------------ provided that for the first six months following the Closing Date, the commitment and facility fee percentage shall be the fee set forth in the table above opposite the Consolidated Leverage Ratio for category 2. Changes in the applicable facility fee and commitment fee rates resulting from changes in the Consolidated Leverage Ratio shall become effective on the date on which financial statements are received by the Ad...
Commitment and Facility Fees. The first sentence of Section 2.5 of the Original Agreement is hereby amended in its entirety to read as follows: "In consideration of each Lender's commitment to make Advances up to the amount of the Borrowing Base in effect from time to time, Borrower will pay to Agent for the account of each Lender a commitment fee determined on a daily basis by applying the Commitment Fee Margin in effect at such time to such Lender's Percentage Share of the unused portion of the Borrowing Base on each day during 5 the Commitment Period, determined for each such day by deducting from the Borrowing Base the aggregate unpaid principal balance of the Loans and outstanding LC Obligations at the end of such day."
Commitment and Facility Fees. (a) As additional compensation for the Commitment on the revolving basis provided for herein, the Borrower agrees to pay the Bank a commitment fee for the Commitment Period at the rate of .25% per annum on the average daily unused portion of the Commitment hereunder. Such commitment fee shall be payable quarterly, on the last day of each March, June September and December during the Commitment Period, commencing December 31, 2001, and on the Termination Date. If the Borrower fails to pay any such amount to the Bank when due the amount of such defaulted payment shall bear interest from the date when due until (but excluding) the date when paid at the Post-Default Rate. The obligation so to pay interest shall not be construed so as to waive the requirement to pay the commitment fees as hereinabove set forth.
(b) As additional compensation for the Commitment, the Borrower agrees to pay the Bank a facility fee in the amount of $50,000. Such facility fee shall be payable upon the Borrower's execution hereof. The Bank hereby acknowledges the Borrower's payment of $10,000 toward such facility fee.
Commitment and Facility Fees. In consideration of the Commitment available on the terms of this Agreement, the Borrower agrees to pay to the Bank (a) a commitment fee on the average daily unused portion of the Commitment from September 22, 1999, until the Termination Date at the rate of [*] percent ([*]%) per annum, payable quarterly in arrears on the last day of each March, June, September and December during the term of the Commitment, commencing September 30, 1999, and on the Termination Date, (b) a facility fee equal to [*], payable in five equal consecutive installments of [*] the first installment due on or prior to the date of the initial Advance, and the succeeding installments on the last day of September in each of 2000, 2001, 2002 and 2003; provided that if the unused portion of the Commitment is terminated in whole pursuant to Section 2.5, Section 2.9 or Section 7.1, then the entire unpaid balance of the facility fee referred to in Section 2.4(b) shall become and be forthwith due and payable, without presentment, demand, protest or any notice of any kind, all of which are hereby expressly waived by the Borrower.
Commitment and Facility Fees. In consideration of each Lender's commitment to make Advances up to the amount of the Borrowing Base in effect from time to time, Borrower will pay to Agent for the account of each Lender a commitment fee determined on a daily basis by applying a rate of three-eighths of one percent (0.375%) per annum to such Lender's Percentage Share of the unused portion of the Borrowing Base on each day during the Commitment Period, determined for each such day by deducting from the Borrowing Base the aggregate unpaid principal balance of the Loans and outstanding LC Obligations at the end of such day. In consideration of
Commitment and Facility Fees. 23 3.2 Fees of the Agent ......................................24 3.3 Computation of Interest and Fees .......................24 3.4 Pro Rata Treatment and Application of Principal Payments................................................24
Commitment and Facility Fees
