Commitment Commission. (a) The Borrower agrees to pay the Administrative Agent for distribution to each Non-Defaulting Lender a commitment commission (the “Commitment Commission”) for the period from the Effective Date to and including the Maturity Date (or such earlier date as the Total Commitment shall have been terminated) computed at a rate for each day equal to 0.40 multiplied by the Applicable Margin on such day multiplied by the daily average Unutilized Commitment of such Non-Defaulting Lender. Accrued Commitment Commission shall be due and payable quarterly in arrears on each Payment Date and on the Maturity Date (or such earlier date upon which the Total Commitment is terminated). (b) The Borrower shall pay to each Agent, for such Agent’s own account or for the account of the Lenders, such other fees as have been agreed to in writing by the Borrower and the Administrative Agent. (c) The Borrower agrees to pay to the Administrative Agent for distribution to each Lender (based on each such Lender’s respective Percentage), a fee in respect of each Letter of Credit (the “Letter of Credit Fee”) for the period from and including the date of issuance of such Letter of Credit to and including the date of termination or expiration of such Letter of Credit, computed at a rate per annum equal to the Applicable Margin then in effect from time to time on the daily Stated Amount of each such Letter of Credit. Accrued Letter of Credit Fees shall be due and payable quarterly in arrears on each Payment Date and on the Maturity Date (or such earlier date upon which the Total Commitment is terminated). (d) The Borrower agrees to pay directly to each Issuing Lender, for its own account, a facing fee in respect of each Letter of Credit issued by it (the “Facing Fee”) for the period from and including the date of issuance of such Letter of Credit to and including the date of termination or expiration of such Letter of Credit, computed at a rate per annum equal to 1/8 of 1% on the daily Stated Amount of such Letter of Credit, provided that in any event the minimum amount of Facing Fees payable in any twelve-month period for each Letter of Credit shall be not less than $500; it being agreed that, on the day of issuance of any Letter of Credit and on each anniversary thereof prior to the termination or expiration of such Letter of Credit, if $500 will exceed the amount of Facing Fees that will accrue with respect to such Letter of Credit for the immediately succeeding twelve-month period, the full $500 shall be payable on the date of issuance of such Letter of Credit and on each such anniversary thereof. Except as otherwise provided in the proviso to the immediately preceding sentence, accrued Facing Fees shall be due and payable quarterly in arrears on each Payment Date and upon the first day on or after the termination of the Total Commitment upon which no Letters of Credit remain outstanding. (e) The Borrower agrees to pay, upon each payment (including any partial payment) under, issuance of, extension of, or amendment to, any Letter of Credit issued hereunder, such amount as shall at the time of such event be the administrative charge which the respective Issuing Lender is generally charging in connection with such occurrence with respect to letters of credit.
Appears in 2 contracts
Samples: Credit Agreement (NCL CORP Ltd.), Credit Agreement (NCL CORP Ltd.)
Commitment Commission. (a) The Borrower agrees to pay the Administrative Agent for distribution to each Non-Defaulting Lender a commitment commission (the “Commitment Commission”) for the period from the Effective Date to and including the Maturity Date (or such earlier date as the Total Commitment shall have been terminated) computed at a rate for each day equal to 0.40 multiplied by the Applicable Margin on such day multiplied by the daily average Unutilized Commitment of such Non-Defaulting Lender. Accrued Commitment Commission shall be due and payable quarterly in arrears on each Payment Date and on the Maturity Date (or such earlier date upon which the Total Commitment is terminated).
(b) The Borrower shall pay to each Agent, for such Agent’s own account or the Agent for the account of each Bank a commitment commission on the Lendersamount of such Bank's A Available Commitment and B Available Commitment from day to day during the period beginning on the Original Facility Date up to (but not including) the Commitment Termination Date, such other fees as have been agreed commitment commission to in writing by be calculated at the Borrower and rate of one half of the Administrative Agent.
(c) The Borrower agrees to pay to the Administrative Agent for distribution to each Lender (based on each such Lender’s respective Percentage), a fee in respect of each Letter of Credit (the “Letter of Credit Fee”) for the period from and including the date of issuance of such Letter of Credit to and including the date of termination or expiration of such Letter of Credit, computed at a rate per annum equal to the Applicable applicable Margin then in effect 1 from time to time in the case of such Bank's A Available Commitment and one half of the applicable Margin 2 from time to time in the case of such Bank's B Available Commitment. Commitment commission shall be payable in arrear on the daily Stated Amount last day of each such Letter successive period of Credit. Accrued Letter of Credit Fees shall be due and payable quarterly in arrears on each Payment three months starting from the Original Facility Date and on the Final Maturity Date (each such date a "Commitment Commission Payment Date") Provided Always That for the purposes of determining the amount of accrued commitment commission payable on each Commitment Commission Payment Date the Net Leverage (and accordingly the applicable Margin 1, or such earlier date upon which as the Total Commitment is terminated).
case may be, the applicable Margin 2) shall be assumed to be as disclosed in the most recent financial statements delivered pursuant to Clause 12.1 (dAnnual Statements) The Borrower agrees to pay directly to each Issuing Lenderor Clause 12.2 (Quarterly Statements) Provided Further That if, for its own account, a facing fee on the basis of the financial statements delivered in respect of each Letter of Credit issued by it the next following Quarter Date (the “Facing Fee”) for the period from and including the date of issuance of such Letter of Credit having regard to and including the date of termination or expiration of such Letter of Credit, computed at a rate per annum equal to 1/8 of 1% on the daily Stated Amount of such Letter of Credit, provided that in any event the minimum amount of Facing Fees payable in any twelve-month period for each Letter of Credit shall be not less than $500; it being agreed that, on the day of issuance of any Letter of Credit and on each anniversary thereof prior to the termination or expiration of such Letter of Credit, if $500 will exceed the amount of Facing Fees that will accrue with respect to such Letter of Credit for the immediately succeeding twelve-month period, the full $500 shall be payable on the date of issuance of such Letter of Credit and on each such anniversary thereof. Except as otherwise provided in the proviso to the immediately preceding sentencedefinition of "Margin 1" and the proviso to the definition of "Margin 2") the Borrower has overpaid (or, accrued Facing Fees as the case may be, underpaid) commitment commission then the amount so overpaid (or, as the case may be, underpaid) shall be due and deducted from (or, as the case may be, added to) the amount of commitment commission which would otherwise have been payable quarterly in arrears by the Borrower on each the next following Commitment Commission Payment Date and upon the first day on or after the termination of the Total Commitment upon which no Letters of Credit remain outstandingDate.
(e) The Borrower agrees to pay, upon each payment (including any partial payment) under, issuance of, extension of, or amendment to, any Letter of Credit issued hereunder, such amount as shall at the time of such event be the administrative charge which the respective Issuing Lender is generally charging in connection with such occurrence with respect to letters of credit.
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Commitment Commission. (a) The Borrower agrees to pay the Administrative Agent for distribution to each Non-Defaulting Lender a commitment commission (the “Commitment Commission”) for the period from the Effective Date to and including the Maturity Date (or such earlier date as the Total Commitment shall have been terminated) computed at a rate for each day equal to 0.40 multiplied by the Applicable Margin on such day multiplied by the daily average Unutilized Commitment of such Non-Defaulting Lender. Accrued Commitment Commission shall be due and payable quarterly in arrears on each Payment Date and on the Maturity Date (or such earlier date upon which the Total Commitment is terminated).
(b) The Borrower shall pay to each Agent, for such Agent’s own account or for the account of the Lenders, such other fees as have been agreed to in writing by the Borrower and the Administrative Agent.
(c) The Borrower agrees to pay to the Administrative Agent for distribution to each Lender (based on each such Lender’s respective Percentage), a fee in respect the account of each Letter of Bank a Commitment commission with respect to its Revolving Credit (the “Letter of Credit Fee”) Loan Commitment for the period from and including commencing on the date of issuance of such Letter of Credit Amendment Effective Date, to and including the date on which the Revolving Credit Loan Commitments of termination or expiration of such Letter of Creditthe Banks have been permanently terminated in full, computed at a rate per annum equal to the Applicable Margin then in effect from time to time Commitment Fee Percentage on the average daily Stated Amount Unutilized Revolving Commitment of each such Letter Bank (computed in Dollars) during the period for which payment is made. For the purposes of Credit. Accrued Letter the preceding sentence, issuance of Letters of Credit Fees shall be due and deemed to be a utilization of the Banks' respective Revolving Credit Loan Commitments in an amount equal to LC Outstandings, pro rata as to each Bank based on the amount that its Revolving Credit Loan Commitment bears to the Total Revolving Credit Loan Commitment. Such Commitment commission shall be payable quarterly in arrears on the last Business Day of each Payment Date calendar quarter and on the Maturity Date (or such earlier date upon which the Total Commitment is terminated).
(d) The Borrower agrees to pay directly to each Issuing Lender, for its own account, a facing fee in respect of each Letter of Revolving Credit issued by it (the “Facing Fee”) for the period from and including the date of issuance of such Letter of Credit to and including the date of termination or expiration of such Letter of Credit, computed at a rate per annum equal to 1/8 of 1% on the daily Stated Amount of such Letter of Credit, provided that in any event the minimum amount of Facing Fees payable in any twelve-month period for each Letter of Credit Loan Commitments shall be not less than $500; it being agreed that, on permanently terminated. The Agent shall endeavor to notify the day of issuance of any Letter of Credit and on each anniversary thereof Borrower prior to the termination or expiration end of each such calendar quarter of the amount to be paid by the Borrower at the end of such Letter quarter, but no failure by the Agent to do so shall in any way affect the Borrower's obligations hereunder to timely pay the full amount due when due; however, no such amount paid in reliance on such a notice, or paid in accordance with the Borrower's good faith calculations in the absence of Creditsuch a notice, if $500 will exceed shall constitute an Event of Default under Section 9.1 unless the Borrower shall fail to timely pay the full amount of Facing Fees that will accrue with respect any further adjustment as may be appropriate pursuant to such Letter of Credit for the immediately succeeding twelve-month period, the full $500 shall be payable on the date of issuance of such Letter of Credit and on each such anniversary thereof. Except as otherwise provided in the proviso notice to the immediately preceding sentence, accrued Facing Fees shall be due and payable quarterly in arrears on each Payment Date and upon Borrower from the first day on or after the termination of the Total Commitment upon which no Letters of Credit remain outstandingAgent.
(e) The Borrower agrees to pay, upon each payment (including any partial payment) under, issuance of, extension of, or amendment to, any Letter of Credit issued hereunder, such amount as shall at the time of such event be the administrative charge which the respective Issuing Lender is generally charging in connection with such occurrence with respect to letters of credit.
Appears in 1 contract
Samples: Loan Agreement (Xanser Corp)
Commitment Commission. (a) The Borrower agrees Borrowers jointly and severally agree to pay the Administrative Agent for distribution to each Non-Defaulting Lender a commitment commission (the “Commitment Commission”) for the period from the Effective Date to and including the Final Maturity Date (or such earlier date as the Total Commitment shall have been terminated) computed at a rate for each day equal to 0.40 0.30 multiplied by the Applicable Margin on such day multiplied by the daily average Unutilized Commitment of such Non-Defaulting Lender; provided that for purposes of calculating the Commitment Commission, outstanding Swingline Loans shall not be deemed to be a utilization of the Commitments of the Lenders other than the Swingline Lender. Accrued Commitment Commission shall be due and payable quarterly in arrears on each Payment Date and on the Final Maturity Date (or such earlier date upon which the Total Commitment is terminated).
(b) The Borrower shall pay to each Agent, for such Agent’s own account or for the account of the Lenders, such other fees as have been agreed to in writing by the Borrower Borrowers jointly and the Administrative Agent.
(c) The Borrower agrees severally agree to pay to the Administrative Agent for distribution to each Lender (based on each such Lender’s respective Percentage), a fee in respect of each Letter of Credit (the “Letter of Credit Fee”) for the period from and including the date of issuance of such Letter of Credit to and including the date of termination or expiration of such Letter of Credit, computed at a rate per annum equal to the Applicable Margin then in effect from time to time on the daily Stated Amount of each such Letter of Credit. Accrued Letter of Credit Fees shall be due and payable quarterly in arrears on each Payment Date and on the Final Maturity Date (or such earlier date upon which the Total Commitment is terminated).
(dc) The Borrower agrees Borrowers jointly and severally agree to pay directly to each Issuing Lender, for its own account, a facing fee in respect of each Letter of Credit issued by it (the “Facing Fee”) for the period from and including the date of issuance of such Letter of Credit to and including the date of termination or expiration of such Letter of Credit, computed at a rate per annum equal to 1/8 of 1% on the daily Stated Amount of such Letter of Credit, provided that in any event the minimum amount of Facing Fees payable in any twelve-month period for each issued Letter of Credit shall be not less than $500; it being agreed that, on the day of issuance of any Letter of Credit and on each anniversary thereof prior to the termination or expiration of such Letter of Credit, if $500 will exceed the amount of Facing Fees that will accrue with respect to such Letter of Credit for the immediately succeeding twelve-month period, the full $500 shall be payable on the date of issuance of such Letter of Credit and on each such anniversary thereof. Except as otherwise provided in the proviso to the immediately preceding sentence, accrued Facing Fees shall be due and payable quarterly in arrears on each Payment Date following issuance of a Letter of Credit and upon the first day on or after the termination of the Total Commitment upon which no Letters of Credit remain outstanding.
(ed) The Borrower agrees Borrowers jointly and severally agree to pay, upon each payment (including any partial payment) under, issuance of, extension of, or amendment to, any Letter of Credit issued hereunder, such amount as shall at the time of such event be the administrative charge which the respective Issuing Lender is generally charging in connection with such occurrence with respect to letters of credit, provided that such administrative charges shall not exceed $1,000 in the aggregate for any single letter of credit.
(e) The Borrowers shall pay to the Administrative Agent and the other Agents, for their own account, such other fees as have been agreed to in writing by OSG or the Borrowers and such Agent.
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Commitment Commission. (a) The Borrower agrees to pay the Administrative Agent for distribution to each Non-Defaulting Lender with a First Priority Term Loan Commitment a commitment commission (the “"FPTL Commitment Commission”") for the period from the Effective Date to and including the Maturity Commitment Termination Date (or such earlier date as the Total First Priority Term Loan Commitment shall have been terminated) computed at a rate for each day equal to 0.40 multiplied by a per annum rate of forty-five percent (45%) of the then applicable Applicable Margin for First Priority Term Loans on such day multiplied by the daily average Unutilized unutilized First Priority Term Loan Commitment of such Non-Defaulting Lender. Accrued FPTL Commitment Commission shall be due and payable quarterly in arrears on each Payment Date and on the Maturity Commitment Termination Date (or such earlier date upon which the Total First Priority Term Loan Commitment is terminated).
(b) The Borrower agrees to pay the Administrative Agent for distribution to each Non-Defaulting Lender with a Second Priority Term Loan Commitment a commitment commission (the "SPTL Commitment Commission") for the period from the Effective Date to and including the Commitment Termination Date (or such earlier date as the Total Second Priority Term Loan Commitment shall have been terminated) computed at a rate for each day equal to a per annum rate of forty-five percent (45%) of the then applicable Applicable Margin for Second Priority Term Loans on the daily average unutilized Second Priority Term Loan Commitment of such Non-Defaulting Lender. Accrued SPTL Commitment Commission shall be due and payable on Commitment Termination Date (or such earlier date upon which the Total Second Priority Term Loan Commitment is terminated).
(c) The Borrower shall pay to each the Administrative Agent, for such the Administrative Agent’s 's own account or for the account of the Lendersaccount, such other fees as have been agreed to in writing by the Borrower and the Administrative Agent.
(c) The Borrower agrees to pay to the Administrative Agent for distribution to each Lender (based on each such Lender’s respective Percentage), a fee in respect of each Letter of Credit (the “Letter of Credit Fee”) for the period from and including the date of issuance of such Letter of Credit to and including the date of termination or expiration of such Letter of Credit, computed at a rate per annum equal to the Applicable Margin then in effect from time to time on the daily Stated Amount of each such Letter of Credit. Accrued Letter of Credit Fees shall be due and payable quarterly in arrears on each Payment Date and on the Maturity Date (or such earlier date upon which the Total Commitment is terminated).
(d) The Borrower agrees to pay directly to each Issuing Lender, for its own account, a facing fee in respect of each Letter of Credit issued by it (the “Facing Fee”) for the period from and including the date of issuance of such Letter of Credit to and including the date of termination or expiration of such Letter of Credit, computed at a rate per annum equal to 1/8 of 1% on the daily Stated Amount of such Letter of Credit, provided that in any event the minimum amount of Facing Fees payable in any twelve-month period for each Letter of Credit shall be not less than $500; it being agreed that, on the day of issuance of any Letter of Credit and on each anniversary thereof prior to the termination or expiration of such Letter of Credit, if $500 will exceed the amount of Facing Fees that will accrue with respect to such Letter of Credit for the immediately succeeding twelve-month period, the full $500 shall be payable on the date of issuance of such Letter of Credit and on each such anniversary thereof. Except as otherwise provided in the proviso to the immediately preceding sentence, accrued Facing Fees shall be due and payable quarterly in arrears on each Payment Date and upon the first day on or after the termination of the Total Commitment upon which no Letters of Credit remain outstanding.
(e) The Borrower agrees to pay, upon each payment (including any partial payment) under, issuance of, extension of, or amendment to, any Letter of Credit issued hereunder, such amount as shall at the time of such event be the administrative charge which the respective Issuing Lender is generally charging in connection with such occurrence with respect to letters of credit.
Appears in 1 contract
Commitment Commission. (a) The Borrower agrees Borrowers jointly and severally agree to pay the Administrative Agent for distribution to each Non-Defaulting Lender a commitment commission (the “Commitment Commission”) for the period from the Effective Date to and including the Maturity Date (or such earlier date as the Total Commitment shall have been terminated) computed at a rate for each day per annum equal to 0.40 multiplied by the Applicable Margin (i) 1.20% on such day multiplied by the daily average Unutilized Commitment of such Non-Defaulting Lender for the period from and including the Effective Date to but not including the Availability Date, and (ii) 1.00% on the daily average Unutilized Commitment of such Non-Defaulting Lender for the period from and including the Availability Date to but not including the Final Maturity Date; provided that for purposes of calculating the Commitment Commission, outstanding Swingline Loans shall not be deemed to be a utilization of the Commitments of the Lenders other than the Swingline Lender. Accrued Commitment Commission shall be due and payable quarterly in arrears on each Payment Date and on the Final Maturity Date (or such earlier date upon which the Total Commitment is terminated).
(b) The Borrower shall pay to each Agent, for such Agent’s own account or for the account of the Lenders, such other fees as have been agreed to in writing by the Borrower Borrowers jointly and the Administrative Agent.
(c) The Borrower agrees severally agree to pay to the Administrative Agent for distribution to each Lender (based on each such Lender’s respective Percentage), a fee in respect of each Letter of Credit (the “Letter of Credit Fee”) for the period from and including the date of issuance of such Letter of Credit to and including the date of termination or expiration of such Letter of Credit, computed at a rate per annum equal to the Applicable Margin then in effect from time to time on the daily Stated Amount of each such Letter of CreditCredit (for this purpose, using the Dollar Equivalent for all Letters of Credit denominated in a currency other than Dollars). Accrued Letter of Credit Fees shall be due and payable quarterly in arrears on each Payment Date and on the Final Maturity Date (or such earlier date upon which the Total Commitment is terminated).
(dc) The Borrower agrees Borrowers jointly and severally agree to pay directly to each Issuing Lender, for its own account, a facing fee in respect of each Letter of Credit issued by it (the “Facing Fee”) for the period from and including the date of issuance of such Letter of Credit to and including the date of termination or expiration of such Letter of Credit, computed at a rate per annum equal to 1/8 of 1% on the daily Stated Amount of such Letter of CreditCredit (for this purpose, using the Dollar Equivalent for all Letters of Credit denominated in a currency other than Dollars), provided that in any event the minimum amount of Facing Fees payable in any twelve-month period for each issued Letter of Credit shall be not less than $500; it being agreed that, on the day of issuance of any Letter of Credit and on each anniversary thereof prior to the termination or expiration of such Letter of Credit, if $500 will exceed the amount of Facing Fees that will accrue with respect to such Letter of Credit for the immediately succeeding twelve-month period, the full $500 shall be payable on the date of issuance of such Letter of Credit and on each such anniversary thereof. Except as otherwise provided in the proviso to the immediately preceding sentence, accrued Facing Fees shall be due and payable quarterly in arrears on each Payment Date following issuance of a Letter of Credit and upon the first day on or after the termination of the Total Commitment upon which no Letters of Credit remain outstanding.
(ed) The Borrower agrees Borrowers jointly and severally agree to pay, upon each payment (including any partial payment) under, issuance of, extension of, or amendment to, any Letter of Credit issued hereunder, such amount as shall at the time of such event be the administrative charge which the respective Issuing Lender is generally charging in connection with such occurrence with respect to letters of credit, provided that such administrative charges shall not exceed $1,000 in the aggregate for any single letter of credit.
(e) The Borrowers shall pay to the Administrative Agent and the other Agents, for their own account, such other fees as have been agreed to in writing by OSG or the Borrowers and such Agent.
Appears in 1 contract
Commitment Commission. (a) The Borrower agrees to pay the Administrative Agent for distribution to each Non-Defaulting Lender a commitment commission (the “Commitment Commission”) for the period from the Effective Date to and including the Maturity Date (or such earlier date as the Total Commitment shall have been terminated) computed at a rate for each day equal to 0.40 multiplied by the Applicable Margin on such day 0.55% multiplied by the daily average Unutilized Commitment of such Non-Defaulting Lender. Accrued Commitment Commission shall be due and payable quarterly in arrears on each Payment Date and on the Maturity Date (or such earlier date upon which the Total Commitment is terminated).
(b) The Borrower shall pay to each the Administrative Agent, for such the Administrative Agent’s own account or for the account of the Lendersaccount, such other fees as have been agreed to in writing by the Borrower and the Administrative Agent.
(c) The Borrower agrees to pay to the Administrative Agent for distribution to each Lender (based on each such Lender’s respective Percentage), a fee in respect of each Letter of Credit (the “Letter of Credit Fee”) for the period from and including the date of issuance of such Letter of Credit to and including the date of termination or expiration of such Letter of Credit, computed at a rate per annum equal to the Applicable Margin for Eurodollar Loans then in effect from time to time on the daily Stated Amount of each such Letter of Credit. Accrued Letter of Credit Fees shall be due and payable quarterly in arrears on each Payment Date and on the Maturity Date (or such earlier date upon which the Total Commitment is terminated).
(d) The Borrower agrees to pay directly to each Issuing Lender, for its own account, a facing fee in respect of each Letter of Credit issued by it (the “Facing Fee”) for the period from and including the date of issuance of such Letter of Credit to and including the date of termination or expiration of such Letter of Credit, computed at a rate per annum equal to 1/8 of 1% on the daily Stated Amount of such Letter of Credit, provided that in any event the minimum amount of Facing Fees payable in any twelve-month period for each Letter of Credit shall be not less than $500; it being agreed that, on the day of issuance of any Letter of Credit and on each anniversary thereof prior to the termination or expiration of such Letter of Credit, if $500 will exceed the amount of Facing Fees that will accrue with respect to such Letter of Credit for the immediately succeeding twelve-month period, the full $500 shall be payable on the date of issuance of such Letter of Credit and on each such anniversary thereof. Except as otherwise provided in the proviso to the immediately preceding sentence, accrued Facing Fees shall be due and payable quarterly in arrears on each Payment Date and (or such earlier date upon the first day on or after the termination of which the Total Commitment upon which no Letters of Credit remain outstandingis terminated).
(e) The Borrower agrees to pay, upon each payment (including any partial payment) under, issuance of, extension of, or amendment to, any Letter of Credit issued hereunder, such amount as shall at the time of such event be the administrative charge which the respective Issuing Lender is generally charging (in addition to its regular letter of credit and/or facing fees) in connection with such occurrence with respect to letters of credit.
Appears in 1 contract
Samples: Credit Agreement (Todco)
Commitment Commission. (a) The Borrower agrees to pay the Administrative Agent for distribution to each Non-Defaulting Lender a commitment commission (the “Commitment Commission”) for the period from commencing on the Restatement Effective Date to and including ending on the Maturity Date (or such earlier date as the Total Commitment shall have been terminated) computed at a rate for each day per annum equal to 0.40 multiplied by the Applicable Margin on such day multiplied by Commitment Commission Rate of the daily average Total Unutilized Commitment of such Non-Defaulting LenderCommitment, as reflected in the financial statements for the most recently ended Test Period. Accrued Commitment Commission shall be due and payable quarterly in arrears on each Payment Scheduled Commitment Reduction Date and on the Maturity Date (or such earlier date upon which the Total Commitment is terminated).
(b) The Borrower shall pay to each the Administrative Agent, for such the Administrative Agent’s own account or for the account of the Lendersaccount, such other fees as have been agreed to in writing by the Borrower and the Administrative Agent.
(c) The Borrower agrees to pay to the Administrative Agent for distribution to each Lender (based on each such Lender’s respective Percentage), a fee in respect of each Letter of Credit (the “Letter of Credit Fee”) for the period from and including the date of issuance of such Letter of Credit to and including the date of termination or expiration of such Letter of Credit, computed at a rate per annum equal to the Applicable Margin then in effect from time to time on the daily Stated Amount of each such Letter of Credit. Accrued Letter of Credit Fees shall be due and payable quarterly in arrears on each Payment Date and on the Maturity Date (or such earlier date upon which the Total Commitment is terminated).
(d) The Borrower agrees to pay directly to each Issuing Lender, for its own account, a facing fee in respect of each Letter of Credit issued by it (the “Facing Fee”) for the period from and including the date of issuance of such Letter of Credit to and including the date of termination or expiration of such Letter of Credit, computed at a rate per annum equal to 1/8 of 1% on the daily Stated Amount of such Letter of Credit, provided that in any event the minimum amount of Facing Fees payable in any twelve-month period for each Letter of Credit shall be not less than $500; it being agreed that, on the day of issuance of any Letter of Credit and on each anniversary thereof prior to the termination or expiration of such Letter of Credit, if $500 will exceed the amount of Facing Fees that will accrue with respect to such Letter of Credit for the immediately succeeding twelve-month period, the full $500 shall be payable on the date of issuance of such Letter of Credit and on each such anniversary thereof. Except as otherwise provided in the proviso to the immediately preceding sentence, accrued Facing Fees shall be due and payable quarterly in arrears on each Payment Date and upon the first day on or after the termination of the Total Commitment upon which no Letters of Credit remain outstanding.
(e) The Borrower agrees to pay, upon each payment (including any partial payment) under, issuance of, extension of, or amendment to, any Letter of Credit issued hereunder, such amount as shall at the time of such event be the administrative charge which the respective Issuing Lender is generally charging in connection with such occurrence with respect to letters of credit.
Appears in 1 contract
Commitment Commission. (a) The Borrower agrees to pay to the Administrative Agent for distribution to each Revolving Lender which is a Non-Defaulting Lender a commitment commission (the “Commitment Commission”) ), in Dollars, for the period from and including the Effective Date to and including the Revolving Loan Maturity Date (or such earlier date as on which the Total Revolving Commitment shall have has been terminated) computed at a rate for each day per annum equal to 0.40 multiplied by 40% of the Applicable Margin then in effect on such day multiplied by the daily average Unutilized Commitment undrawn portion of such Non-Defaulting Lenderthe Total Revolving Commitment. Accrued The accrued Commitment Commission shall be due and payable quarterly in arrears on each Quarterly Payment Date and on the Maturity Date (or such earlier date upon which the Total Revolving Commitment is terminated).
(b) The Borrower shall agrees to pay to the Administrative Agent for distribution to each AgentRevolving Lender which is a Non-Defaulting Lender a utilization fee (the “Utilization Fee”), in Dollars, for such Agent’s own account or for each day that the account Aggregate Revolving Exposure exceeds 50% of the Lenders, Total Revolving Commitment computed at a rate per annum equal to 3% on the Aggregate Revolving Exposure on such other fees as have been agreed to day. The accrued Utilization Fee shall be due and payable quarterly in writing by arrears on each Quarterly Payment Date and on the Borrower and date upon which the Administrative AgentTotal Revolving Commitment is terminated.
(c) The Borrower agrees to pay to the Administrative Agent for distribution to each Revolving Lender (based on each such Revolving Lender’s respective Revolving Percentage), a fee in respect of each Letter of Credit (the “Letter of Credit Fee”) for the period from and including the date of issuance of such Letter of Credit to and including the date of termination or expiration of such Letter of Credit, computed at a rate per annum equal to the Applicable Margin then in effect from time to time on the daily Stated Amount of each such Letter of Credit. Accrued Letter of Credit Fees shall be due and payable quarterly in arrears on each Quarterly Payment Date and on the Revolving Loan Maturity Date (or such earlier date upon which the Total Revolving Commitment is terminated).
(d) The Borrower agrees to pay directly to each Issuing Lender, for its own account, a facing fee in respect of each Letter of Credit issued by it (the “Facing Fee”) for the period from and including the date of issuance of such Letter of Credit to and including the date of termination or expiration of such Letter of Credit, computed at a rate per annum equal to 1/8 of 1% on the daily Stated Amount of such Letter of Credit, provided that in any event the minimum amount of Facing Fees payable in any twelve-month period for each Letter of Credit shall be not less than $500; it being agreed that, on the day of issuance of any Letter of Credit and on each anniversary thereof prior to the termination or expiration of such Letter of Credit, if $500 will exceed the amount of Facing Fees that will accrue with respect to such Letter of Credit for the immediately succeeding twelve-month period, the full $500 shall be payable on the date of issuance of such Letter of Credit and on each such anniversary thereof. Except as otherwise provided in the proviso to the immediately preceding sentence, accrued Facing Fees shall be due and payable quarterly in arrears on each Quarterly Payment Date and upon the first day on or after the termination of the Total Revolving Commitment upon which no Letters of Credit remain outstanding.
(e) The Borrower agrees to pay, upon each payment (including any partial payment) under, issuance of, extension of, or amendment to, any Letter of Credit issued hereunder, such amount as shall at the time of such event be the administrative charge which the respective Issuing Lender is generally charging in connection with such occurrence with respect to letters of credit.
(f) The Borrower shall pay to the Administrative Agent, for the Administrative Agent’s own account, such other fees as have been agreed to in writing by the Borrower and the Administrative Agent.
(g) The Borrower agrees to pay to the Administrative Agent for distribution to each Tranche A Term Lender which is a Non-Defaulting Lender an unused facility commitment yield enhancement (the “Tranche A Yield Enhancement”), in Dollars, for the period from and including the Third Amendment Effective Date to and including the Tranche A Term Loan Commitment Termination Date (or such earlier date on which the Total Tranche A Term Loan Commitment has been terminated) computed at a rate equal to (i) 1.50% per annum from the Third Amendment Effective Date through December 31, 2010, and (ii) thereafter 2.50% per annum on the undrawn portion of the Total Tranche A Term Loan Commitment. The accrued Tranche A Yield Enhancement shall be due and payable monthly in arrears on the first day of each calendar month and on the date upon which the Total Tranche A Term Loan Commitment is terminated.
(h) The Borrower agrees to pay to the Administrative Agent for distribution to each Tranche B Term Lender which is a Non-Defaulting Lender an unused facility commitment yield enhancement (the “Tranche B Yield Enhancement”), in Dollars, for the period from and including the Third Amendment Effective Date to and including the Tranche B Term Loan Commitment Termination Date (or such earlier date on which the Total Tranche B Term Loan Commitment has been terminated) computed at a rate equal to (i) 1.50% per annum from the Third Amendment Effective Date through December 31, 2010, and (ii) thereafter 2.50% per annum on the undrawn portion of the Total Tranche B Term Loan Commitment. The accrued Tranche B Yield Enhancement shall be due and payable monthly in arrears on the first day of each calendar month and on the date upon which the Total Tranche B Term Loan Commitment is terminated.
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Samples: Credit Agreement and Forbearance Agreement (Trico Marine Services Inc)
Commitment Commission. (a) The Borrower agrees to pay to the Administrative Agent for distribution to each Lender which is a Non-Defaulting Lender a commitment commission (the “Commitment Commission”) ), in Dollars, for the period from and including the Effective Date to and including the Maturity Date (or such earlier date as on which the Total Commitment shall have has been terminated) computed at a rate for each day per annum equal to 0.40 multiplied by 40% of the Applicable Margin then in effect on such day multiplied by the daily average Unutilized Commitment undrawn portion of such Non-Defaulting Lenderthe Total Commitment. Accrued The accrued Commitment Commission shall be due and payable quarterly in arrears on each Quarterly Payment Date and on the Maturity Date (or such earlier date upon which the Total Commitment is terminated).
(b) The Borrower shall agrees to pay to the Administrative Agent for distribution to each AgentLender which is a Non-Defaulting Lender a utilization fee (the “Utilization Fee”), in Dollars, for such Agent’s own account or for each day that the account Aggregate Exposure exceeds 50% of the Lenders, Total Commitment computed at a rate per annum equal to 3% on the Aggregate Exposure on such other fees as have been agreed to day. The accrued Utilization Fee shall be due and payable quarterly in writing by arrears on each Quarterly Payment Date and on the Borrower and date upon which the Administrative AgentTotal Commitment is terminated.
(c) The Borrower agrees to pay to the Administrative Agent for distribution to each Lender (based on each such Lender’s respective Percentage), a fee in respect of each Letter of Credit (the “Letter of Credit Fee”) for the period from and including the date of issuance of such Letter of Credit to and including the date of termination or expiration of such Letter of Credit, computed at a rate per annum equal to the Applicable Margin then in effect from time to time on the daily Stated Amount of each such Letter of Credit. Accrued Letter of Credit Fees shall be due and payable quarterly in arrears on each Payment Date and on the Maturity Date (or such earlier date upon which the Total Commitment is terminated).
(d) The Borrower agrees to pay directly to each Issuing Lender, for its own account, a facing fee in respect of each Letter of Credit issued by it (the “Facing Fee”) for the period from and including the date of issuance of such Letter of Credit to and including the date of termination or expiration of such Letter of Credit, computed at a rate per annum equal to 1/8 of 1% on the daily Stated Amount of such Letter of Credit, provided that in any event the minimum amount of Facing Fees payable in any twelve-month period for each Letter of Credit shall be not less than $500; it being agreed that, on the day of issuance of any Letter of Credit and on each anniversary thereof prior to the termination or expiration of such Letter of Credit, if $500 will exceed the amount of Facing Fees that will accrue with respect to such Letter of Credit for the immediately succeeding twelve-month period, the full $500 shall be payable on the date of issuance of such Letter of Credit and on each such anniversary thereof. Except as otherwise provided in the proviso to the immediately preceding sentence, accrued Facing Fees shall be due and payable quarterly in arrears on each Payment Date and upon the first day on or after the termination of the Total Commitment upon which no Letters of Credit remain outstanding.
(e) The Borrower agrees to pay, upon each payment (including any partial payment) under, issuance of, extension of, or amendment to, any Letter of Credit issued hereunder, such amount as shall at the time of such event be the administrative charge which the respective Issuing Lender is generally charging in connection with such occurrence with respect to letters of credit.
(f) The Borrower shall pay to the Administrative Agent, for the Administrative Agent’s own account, such other fees as have been agreed to in writing by the Borrower and the Administrative Agent.
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Commitment Commission. (a) The Borrower agrees to pay the Administrative Agent for distribution to each Non-Defaulting Lender a commitment commission (the “Commitment Commission”) for the period from the Effective Initial Borrowing Date to and including the Maturity Date (or such earlier date as the Total Commitment shall have been terminated) computed at a rate for each day equal to 0.40 .35 multiplied by the Applicable Margin on such day multiplied by the daily average Unutilized Commitment of such Non-Defaulting Lender. Accrued Commitment Commission shall be due and payable quarterly in arrears on each Payment Date and on the Maturity Date (or such earlier date upon which the Total Commitment is terminated).
(b) The Borrower shall pay to each the Administrative Agent, for such the Administrative Agent’s own account or for the account of the Lendersaccount, such other fees as have been agreed to in writing by the Borrower and the Administrative Agent.
(c) The Borrower agrees to pay to the Administrative Agent for distribution to each Lender (based on each such Lender’s respective Percentage), a fee in respect of each Letter of Credit (the “Letter of Credit Fee”) for the period from and including the date of issuance of such Letter of Credit to and including the date of termination or expiration of such Letter of Credit, computed at a rate per annum equal to the Applicable Margin then in effect from time to time on the daily Stated Amount of each such Letter of Credit. Accrued Letter of Credit Fees shall be due and payable quarterly in arrears on each Payment Date and on the Maturity Date (or such earlier date upon which the Total Commitment is terminated).
(d) The Borrower agrees to pay directly to each Issuing Lender, for its own account, a facing fee in respect of each Letter of Credit issued by it (the “Facing Fee”) for the period from and including the date of issuance of such Letter of Credit to and including the date of termination or expiration of such Letter of Credit, computed at a rate per annum equal to 1/8 of 1% on the daily Stated Amount of such Letter of Credit, provided that in any event the minimum amount of Facing Fees payable in any twelve-month period for each Letter of Credit shall be not less than $500; it being agreed that, on the day of issuance of any Letter of Credit and on each anniversary thereof prior to the termination or expiration of such Letter of Credit, if $500 will exceed the amount of Facing Fees that will accrue with respect to such Letter of Credit for the immediately succeeding twelve-month period, the full $500 shall be payable on the date of issuance of such Letter of Credit and on each such anniversary thereof. Except as otherwise provided in the proviso to the immediately preceding sentence, accrued Facing Fees shall be due and payable quarterly in arrears on each Payment Date and upon the first day on or after the termination of the Total Commitment upon which no Letters of Credit remain outstanding.
(e) The Borrower agrees to pay, upon each payment (including any partial payment) under, issuance of, extension of, or amendment to, any Letter of Credit issued hereunder, such amount as shall at the time of such event be the administrative charge which the respective Issuing Lender is generally charging in connection with such occurrence with respect to letters of credit.
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