Common use of Commitment Fee and Upfront Fee Clause in Contracts

Commitment Fee and Upfront Fee. (a) The Borrower shall pay to the Administrative Agent for the accounts of the Revolving Lenders a commitment fee (the “Commitment Fee”) for the period commencing on the Closing Date to the Revolving Facility Termination Date with respect to the applicable Revolving Commitments or the earlier date of termination of the applicable Revolving Commitment, computed (on the basis of the actual number of days elapsed over a year of 360 days) at the Commitment Fee Rate on the average daily Unused Total Revolving Commitment. Such Commitment Fee, to the extent then accrued, shall be payable quarterly in arrears (a) on the 15th Business Day following the end of each March, June, September and December, (b) on the Revolving Facility Termination Date with respect to the applicable Revolving Commitments, and (c) as provided in Section 2.11 hereof, upon any reduction or termination in whole or in part of the Total Revolving Commitment. (b) The Borrower shall pay on the Closing Date to each Lender as of such date, an upfront fee in an amount as set forth in a separate fee letter entered into by the Borrower with such Lender on or prior to the Closing Date.

Appears in 3 contracts

Samples: Credit and Guaranty Agreement (Spirit Airlines, Inc.), Credit and Guaranty Agreement (Spirit Airlines, Inc.), Credit and Guaranty Agreement (Spirit Airlines, Inc.)

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Commitment Fee and Upfront Fee. (a) The Borrower shall pay to the Administrative Agent for the accounts of the Revolving Lenders a commitment fee (the “Commitment Fee”) for the period commencing on the Closing Date to the Revolving Facility Termination Date with respect to the applicable Revolving Commitments or the earlier date of termination of the applicable Revolving Commitment, computed (on the basis of the actual number of days elapsed over a year of 360 days) at the Commitment Fee Rate on the average daily Unused Total Revolving Commitment. Such Commitment Fee, to the extent then accrued, shall be payable quarterly in arrears (a) following the Revolver Availability Date on the 15th last Business Day following the end of each March, June, September and December, (b) on the Revolving Facility Termination Date with respect to the applicable Revolving Commitments, Commitments and (c) as provided in Section 2.11 hereof2.11, upon any reduction or termination in whole or in part of the Total Revolving Commitment. (b) The Borrower shall pay on the Closing Revolver Availability Date to each Revolving Lender as of such date, an upfront fee (the “Upfront Fee”) in an amount as set forth in a separate fee letter entered into by equal to 1.0% of the Borrower with amount of such Lender Lender’s Revolving Commitment (if any) on or prior to the Closing Date.

Appears in 2 contracts

Samples: First Amendment and Restatement Agreement (American Airlines Inc), Credit and Guaranty Agreement (American Airlines Inc)

Commitment Fee and Upfront Fee. (a) The Borrower shall pay to the Administrative Agent for the accounts of the Revolving Lenders a commitment fee (the “Commitment Fee”) for the period commencing on the Closing Date to the Revolving Facility Termination Date with respect to the applicable Revolving Commitments or the earlier date of termination of the applicable Revolving Commitment, computed (on the basis of the actual number of days elapsed over a year of 360 days) at the Commitment Fee Rate on the average daily Unused Total Revolving Commitment. Such Commitment Fee, to the extent then accrued, shall be payable quarterly in arrears (a) on the 15th last Business Day following the end of each March, June, September and December, (b) on the Revolving Facility Termination Date with respect to the applicable Revolving Commitments, and (c) as provided in Section 2.11 hereof, upon any reduction or termination in whole or in part of the Total Revolving Commitment. (b) The Borrower shall pay on the Closing Date to each Lender as of such date, an upfront fee in an amount as set forth in a separate fee letter entered into by the Borrower with such Lender on or prior to the Closing Date.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Jetblue Airways Corp)

Commitment Fee and Upfront Fee. (a) The Borrower shall pay to the Administrative Agent for the accounts of the Revolving Lenders a commitment fee (the “Commitment Fee”) for the period commencing on the Closing Restatement Effective Date to the Revolving Facility Termination Date with respect to the applicable Revolving Commitments or the earlier date of termination of the applicable Revolving Commitment, computed (on the basis of the actual number of days elapsed over a year of 360 days) at the Commitment Fee Rate on the average daily Unused Total Revolving Commitment. Such Commitment Fee, to the extent then accrued, shall be payable quarterly in arrears (a) on the 15th last Business Day following the end of each March, June, September and December, (b) on the Revolving Facility Termination Date with respect to the applicable Revolving Commitments, and (c) as provided in Section 2.11 hereof, upon any reduction or termination in whole or in part of the Total Revolving Commitment. (ba) The Borrower shall pay on the Closing Restatement Effective Date to the Administrative Agent for the account of each Lender as of such date, an upfront fee in an amount as set forth in a separate fee letter entered into by the Borrower with and such Lender on or prior to the Closing DateRestatement Effective Date (such upfront fees, the “Upfront Fees”).

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Alaska Air Group, Inc.)

Commitment Fee and Upfront Fee. (a) The Borrower shall pay to the Administrative Agent for the accounts of the Revolving Lenders a commitment fee (the “Commitment Fee”) for the period commencing on the Closing Date to the Revolving Facility Termination Date with respect to the applicable Revolving Commitments or the earlier date of termination of the applicable Revolving Commitment, computed (on the basis of the actual number of days elapsed over a year of 360 days) at the Commitment Fee Rate on the average daily Unused Total Revolving Commitment. Such Commitment Fee, to the extent then accrued, shall be payable quarterly in arrears (a) following the Revolver Availability Date on the 15th last Business Day following the end of each March, June, September and December, (b) on the Revolving Facility Termination Date with respect to the applicable Revolving Commitments, Commitments and (c) as provided in Section 2.11 hereof2.11, upon any reduction or termination in whole or in part of the Total Revolving CommitmentCommitment (provided that such fee will be prorated based on the Commitment Fee set forth in the or Sixth Amendment, as applicable for the fiscal quarter in which the Fifth Amendment Effective Date or Sixth Amendment Effective Date, as applicable, occurs). (b) The Borrower shall pay on the Closing Revolver Availability Date to each Revolving Lender as of such date, an upfront fee (the “Upfront Fee”) in an amount as set forth in a separate fee letter entered into by equal to 1.0% of the Borrower with amount of such Lender Xxxxxx’s Revolving Commitment (if any) on or prior to the Closing Date.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (American Airlines, Inc.)

Commitment Fee and Upfront Fee. (a) The Borrower Co-Borrowers shall pay to the Administrative Agent for the accounts of the Revolving Lenders a commitment fee (the “Commitment Fee”) for the period commencing on the Closing Date to the Revolving Facility Termination Date with respect to the applicable Revolving Commitments or the earlier date of termination of the applicable Revolving Commitment, computed (on the basis of the actual number of days elapsed over a year of 360 days) at the Commitment Fee Rate on the average daily Unused Total Revolving Commitment. Such Commitment Fee, to the extent then accrued, shall be payable quarterly in arrears (a) on the 15th last Business Day following the end of each March, June, September and December, (b) on the Revolving Facility Termination Date with respect to the applicable Revolving Commitments, and (c) as provided in Section 2.11 hereof, upon any reduction or termination in whole or in part of the Total Revolving Commitment. (b) The Borrower Co-Borrowers shall pay on the Closing Date to each Revolving Lender as of such date, an upfront fee (the “Upfront Fee”) in an amount as set forth in a separate fee letter entered into by equal to 1.00% of the Borrower with amount of such Lender on or prior to the Closing DateLender’s Revolving Commitment.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Continental Airlines, Inc.)

Commitment Fee and Upfront Fee. (a%3) The Borrower shall pay to the Administrative Agent for the accounts of the Revolving Lenders a commitment fee (the “Commitment Fee”) for the period commencing on the Closing Restatement Effective Date to the Revolving Facility Termination Date with respect to the applicable Revolving Commitments or the earlier date of termination of the applicable Revolving Commitment, computed (on the basis of the actual number of days elapsed over a year of 360 days) at the Commitment Fee Rate on the average daily Unused Total Revolving Commitment. Such Commitment Fee, to the extent then accrued, shall be payable quarterly in arrears (a) on the 15th last Business Day following the end of each March, June, September and December, (b) on the Revolving Facility Termination Date with respect to the applicable Revolving Commitments, and (c) as provided in Section 2.11 hereof, upon any reduction or termination in whole or in part of the Total Revolving Commitment. (ba) The Borrower shall pay on the Closing Restatement Effective Date to each Lender as of such date, an upfront fee in an amount as set forth in a separate fee letter entered into by the Borrower with such Lender on or prior to the Closing Restatement Effective Date.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Jetblue Airways Corp)

Commitment Fee and Upfront Fee. (a) The Borrower shall pay to the Administrative Agent for the accounts of the Revolving Lenders a commitment fee (the “Commitment Fee”) for the period commencing on the Closing Date to the Revolving Facility Termination Date with respect to the applicable Revolving Commitments or the earlier date of termination of the applicable Revolving Commitment, computed (on the basis of the actual number of days elapsed over a year of 360 days) at the Commitment Fee Rate on the average daily Unused Total Revolving Commitment. Such Commitment Fee, to the extent then accrued, shall be payable quarterly in arrears (a) on the 15th last Business Day following the end of each March, June, September and December, (b) on the Revolving Facility Termination Date with respect to the applicable Revolving Commitments, and (c) as provided in Section 2.11 hereof, upon any reduction or termination in whole or in part of the Total Revolving Commitment. (b) The Borrower shall pay on the Closing Date to each Lender set forth on Annex A as of such date, an upfront fee in an amount as set forth in a separate fee letter entered into by the Borrower with such Lender on or prior equal to the Closing Dateproduct of (x) such Lender’s initial Revolving Commitment multiplied by (y) the applicable Upfront Fee Percentage.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Hawaiian Holdings Inc)

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Commitment Fee and Upfront Fee. (a) The Borrower Co-Borrowers shall pay to the Administrative Agent for the accounts of the Revolving Lenders a commitment fee (the “Commitment Fee”) for the period commencing on the Closing Date to the Revolving Facility Termination Date with respect to the applicable Revolving Commitments or the earlier date of termination of the applicable Revolving Commitment, computed (on the basis of the actual number of days elapsed over a year of 360 days) at the Commitment Fee Rate on the average daily Unused Total Revolving Commitment. Such Commitment Fee, to the extent then accrued, shall be payable quarterly in arrears (a) on the 15th last Business Day following the end of each March, June, September and December, (b) on the Revolving Facility Termination Date with respect to the applicable Revolving Commitments, and (c) as provided in Section 2.11 hereof, upon any reduction or termination in whole or in part of the Total Revolving Commitment. (b) The Borrower Co-Borrowers shall pay on the Closing Date to each Lender as of such date, an upfront fee in an amount as set forth in a separate fee letter entered into by equal to 0.75% of the Borrower with amount of such Lender on or prior to the Closing DateLender’s Revolving Commitment.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (United Air Lines Inc)

Commitment Fee and Upfront Fee. (a) The Borrower shall pay to the Administrative Agent for the accounts of the Revolving Lenders a commitment fee (the “Commitment Fee”) for the period commencing on the Closing Date to the Revolving Facility Termination Date with respect to the applicable Revolving Commitments or the earlier date of termination of the applicable Revolving Commitment, computed (on the basis of the actual number of days elapsed over a year of 360 days) at the Commitment Fee Rate on the average daily Unused Total Revolving Commitment. Such Commitment Fee, to the extent then accrued, shall be payable quarterly in arrears (a) on the 15th last Business Day following the end of each March, June, September and December, beginning on September 30, 2022, (b) on the Revolving Facility Termination Date with respect to the applicable Revolving Commitments, and (c) as provided in Section 2.11 hereof, upon any reduction or termination in whole or in part of the Total Revolving Commitment. (ba) The Borrower shall pay on the Closing Date to each Lender set forth on Annex A as of such date, an upfront fee in an amount as set forth specified in a separate fee letter entered into by between the Borrower with and such Lender on or prior to (the Closing Date“Upfront Fee”).

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Hawaiian Holdings Inc)

Commitment Fee and Upfront Fee. (a) The Borrower shall pay to the Administrative Agent for the accounts of the Revolving Lenders a commitment fee (the “Commitment Fee”) for the period commencing on the Closing Second Restatement Effective Date to the Revolving Facility Termination Date with respect to the applicable Revolving Commitments or the earlier date of termination of the applicable Revolving Commitment, computed (on the basis of the actual number of days elapsed over a year of 360 days) at the Commitment Fee Rate on the average daily Unused Total Revolving Commitment. Such Commitment Fee, to the extent then accrued, shall be payable quarterly in arrears (a) on the 15th last Business Day following the end of each March, June, September and December, (b) on the Revolving Facility Termination Date with respect to the applicable Revolving Commitments, and (c) as provided in Section 2.11 hereof, upon any reduction or termination in whole or in part of the Total Revolving Commitment. (b) The Borrower shall pay on the Closing Second Restatement Effective Date to each Lender as of such date, an upfront fee in an amount as set forth in a separate fee letter Fee Letter entered into by the Borrower with such Lender on or prior to the Closing DateSecond Restatement Effective Date (such upfront fees, the “Upfront Fees”).

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Jetblue Airways Corp)

Commitment Fee and Upfront Fee. (a) The Borrower shall pay to the Administrative Agent for the accounts of the Revolving Lenders a commitment fee (the “Commitment Fee”) for the period commencing on the Closing Date to the Revolving Facility Termination Date with respect to the applicable Revolving Commitments or the earlier date of termination of the applicable Revolving Commitment, computed (on the basis of the actual number of days elapsed over a year of 360 days) at the Commitment Fee Rate on the average daily Unused Total Revolving Commitment. Such Commitment Fee, to the extent then accrued, shall be payable quarterly in arrears (a) on the 15th Business Day following the end 29th day of each March, June, September and December, (b) on the Revolving Facility Termination Date with respect to the applicable Revolving Commitments, and (c) as provided in Section 2.11 hereof, upon any reduction or termination in whole or in part of the Total Revolving Commitment. (b) The Borrower shall pay on the Closing Date to each Revolving Lender as of such date, an upfront fee (the “Upfront Fee”) in an amount as set forth in a separate fee letter entered into equal to 1.00% of the amount of such Lender’s Revolving Commitment (but excluding any amount of Revolving Commitments held by the Borrower with such Lender on or prior to the Closing Datethat is comprised of Existing Non-Extended Revolving Commitments).

Appears in 1 contract

Samples: Credit and Guaranty Agreement (United Airlines, Inc.)

Commitment Fee and Upfront Fee. (a) The Borrower shall pay to the Administrative Agent for the accounts of the Revolving Lenders a commitment fee (the “Commitment Fee”) for the period commencing on the Closing Restatement Effective Date to the Revolving Facility Termination Date with respect to the applicable Revolving Commitments or the earlier date of termination of the applicable Revolving Commitment, computed (on the basis of the actual number of days elapsed over a year of 360 days) at the Commitment Fee Rate on the average daily Unused Total Revolving Commitment. Such Commitment Fee, to the extent then accrued, shall be payable quarterly in arrears (a) on the 15th last Business Day following the end of each March, June, September and December, (b) on the Revolving Facility Termination Date with respect to the applicable Revolving Commitments, and (c) as provided in Section 2.11 hereof, upon any reduction or termination in whole or in part of the Total Revolving Commitment. (b) The Borrower shall pay on the Closing Restatement Effective Date to each Lender as of such date, an upfront fee in an amount as set forth in a separate fee letter entered into by the Borrower with such Lender on or prior to the Closing Restatement Effective Date.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Jetblue Airways Corp)

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