COMMITMENT FEE; OPTIONAL REDUCTION OF COMMITMENT Sample Clauses

COMMITMENT FEE; OPTIONAL REDUCTION OF COMMITMENT. (a) The Lessee shall pay to the Lessor a commitment fee (the "COMMITMENT FEE") on the daily average Available Commitment for the period from the Closing Date to the earlier of the Base Date or the date of termination of the Commitments at a rate per annum equal to 0.50% per annum. Except for any portion of the Commitment Fee capitalized pursuant to SECTION 3.2(e), the accrued Commitment Fee shall be payable as Supplemental Rent on each Payment Date. The Commitment Fee shall be computed on the basis of the actual number of days occurring during the period for which such fee is payable over a year of 360 days. (b) The Lessee may, upon not less than four (4) Business Days' irrevocable prior notice to the Lessor and the Administrative Agent, reduce permanently all or any portion of the Total Commitment, PROVIDED that (i) any partial reduction of the Total Commitment must be in an amount of at least $5,000,000 and (ii) no such reduction shall result in the Total Commitment being less than the aggregate of the Maximum Lease Balances for each Property acquired by the Lessor. The Lessor will, subject to SECTION 3.3, promptly make a corresponding reduction of the Commitments under the Credit Agreement and of the Equity Commitments under the Trust Agreement.