Common use of Commitment Fee and Other Fees Clause in Contracts

Commitment Fee and Other Fees. The Borrower agrees to pay in arrears to the Agent for the account of each Lender on the last Business Day of each March, June, September and December in each year (commencing on the last Business Day of September 2003), prior to the Commitment Termination Date and on the Commitment Termination Date, a fee (the "Commitment Fee") of 1/10 of 1% per annum, computed on the basis of the actual number of days elapsed over a year of 360 days, on the average daily amount by which such Lender's Commitment, as such Commitment may be reduced in accordance with the provisions of this Agreement, exceeds the sum of the principal balance of such Lender's outstanding Loans, and/or such Lender's then current L/C Exposure during the preceding period or quarter. Such Commitment Fee shall commence to accrue on and including the date on which this Agreement is fully executed and shall cease to accrue on and excluding the Commitment Termination Date.

Commitment Fee and Other Fees. The Borrower agrees to pay in arrears to the Agent for the account of each Lender on the last Business Day of each March, June, September and December in each year (commencing on the last Business Day of September 2003June 2002), prior to the Commitment Termination Date and on the Commitment Termination Date, a fee (the "Commitment Fee") of 1/10 of 1% per annum, computed on the basis of the actual number of days elapsed over a year of 360 days, on the average daily amount by which such Lender's Commitment, as such Commitment may be reduced in accordance with the provisions of this Agreement, exceeds the sum of the principal balance of such Lender's outstanding Loans, and/or such Lender's then current L/C Exposure during the preceding period or quarter. Such Commitment Fee shall commence to accrue on and including the date on which this Agreement is fully executed and shall cease to accrue on and excluding the Commitment Termination Date.