Commitment Fee; Reductions in Aggregate Commitment. The Borrower agrees to pay to the Agent for the account of each Lender a commitment fee at a per annum rate equal to the Applicable Fee Rate on the average daily Available Aggregate Commitment from the date hereof to and including the Facility Termination Date, payable on each Payment Date hereafter and on the Facility Termination Date. Swing Line Loans shall not count as usage of any Lender's Commitment for the purpose of calculating the commitment fee due hereunder. The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in integral multiples of $5,000,000 (or the Approximate Equivalent Amount if denominated in an Agreed Currency other than Dollars), upon at least five Business Days' written notice to the Agent, which notice shall specify the amount of any such reduction, provided, however, that the amount of the Aggregate Commitment may not be reduced below the aggregate principal Dollar Amount of the outstanding Advances. All accrued commitment fees shall be payable on the effective date of any termination of the obligations of the Lenders to make Loans hereunder. For purposes of calculating the commitment fee hereunder, the principal amount of each Advance made in an Agreed Currency other than Dollars shall be at any time the Dollar Amount of such Advance as determined on the most recent Computation Date with respect to such Advance. 2.7.
Commitment Fee; Reductions in Aggregate Commitment. (i) The Borrower agrees to pay to the Administrative Agent for the account of each Lender according to its Pro Rata Share a commitment fee at a per annum rate equal to the Commitment Fee Rate in effect from time to time on the average daily Available Aggregate Commitment from the date hereof (whether or not the Credit Date has occurred) to and including the Revolving Credit Termination Date, payable quarterly in arrears on each Payment Date hereafter and on the Revolving Credit Termination Date. The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in integral multiples of $5,000,000, upon at least five Business Days’ written notice to the Administrative Agent, which notice shall specify the amount of any such reduction, provided, however, that the amount of the Aggregate Commitment may not be reduced below the Aggregate Outstanding Credit Exposure. All accrued commitment fees shall be payable on the effective date of any termination of the obligations of the Lenders to make Credit Extensions hereunder.
Commitment Fee; Reductions in Aggregate Commitment. (a) The Borrower agrees to pay to the Agent for the account of each Lender according to its Pro Rata Share a commitment fee at a per annum rate equal to the Applicable Fee Rate on the average daily unused portion of Aggregate Commitment from the date hereof to and including the Facility Termination Date, payable quarterly in arrears on each Payment Date hereafter and on the Facility Termination Date.
Commitment Fee; Reductions in Aggregate Commitment. The Borrower agrees to pay to the Administrative Agent for the account of each Lender according to its Pro Rata Share a commitment fee at a per annum rate equal to the Applicable Fee Rate on the average daily Available Aggregate Commitment from the date hereof to and including the Facility Termination Date, payable on each Payment Date hereafter and on the Facility Termination Date. The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in integral multiples of $5,000,000, upon at least five Business Days' written notice to the Administrative Agent, which notice shall specify the amount of any such reduction; provided, however, that the amount of the Aggregate Commitment may not be reduced below the Aggregate Outstanding Credit Exposure. All accrued commitment fees shall be payable on the effective date of any termination of the obligations of the Lenders to make Credit Extensions hereunder.
Commitment Fee; Reductions in Aggregate Commitment. (i) The Borrower agrees to pay to the Agent for the account of each Lender according to its Pro Rata Share a commitment fee as determined by the Pricing Schedule on the average daily unborrowed portion of Aggregate Commitment payable quarterly in arrears to the Lenders (including the Agent). The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in integral multiples of $10,000,000 (and any such reduction will reduce the Aggregate Revolving Credit Commitment and the Aggregate Facility LC Commitment pro tanto), upon at least three Business Day's written notice to the Agent, which notice shall specify the amount of any such reduction and which of the Aggregate Revolving Credit Commitment or the Aggregate Facility LC Commitment is being reduced, provided, however, that (i) the amount of the Aggregate Commitment may not be reduced below the Aggregate Outstanding Credit Exposure; (ii) the amount of the Aggregate Revolving Credit Commitment shall not be reduced below the amount of outstanding Revolving Credit Loans, and, (iii) the Aggregate Facility LC Agreement shall not be reduced below the amount of the LC Obligations. All accrued commitment fees shall be payable on the effective date of any termination of the obligations of the Lenders to make Credit Extensions hereunder.
Commitment Fee; Reductions in Aggregate Commitment. (a) The Borrower agrees to pay to the Agent for the account of each Lender a commitment fee of .3875 percent per annum on the average daily unborrowed portion of such Lender's Commitment from the date hereof to and including the Facility Termination Date, payable in arrears on each Payment Date hereafter and on the Facility Termination Date. All accrued commitment fees shall be payable on the effective date of any termination of the obligations of the Lenders to make Loans hereunder.
Commitment Fee; Reductions in Aggregate Commitment. The Borrower agrees to pay to the Agent for the account of each Lender a commitment fee of 0.25% per annum on the daily unused portion of such Lender's Commitment from the date hereof to and including the Facility Termination Date, payable on each Payment Date hereafter and on the Facility Termination Date. The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in integral multiples of $1,000,000, upon at least five Business Days' written notice to the Agent, which notice shall specify the amount of any such reduction, provided, however, that the amount of the Aggregate Commitment may not be reduced below the aggregate principal amount of the outstanding Advances. All accrued commitment fees shall be payable on the effective date of any termination of the obligations of the Lenders to make Loans hereunder.
Commitment Fee; Reductions in Aggregate Commitment. The Borrower agrees to pay to the Agent for the account of each Lender a commitment fee ("Commitment Fee") equal to the Applicable Commitment Fee Percentage per annum, as set forth below, on the daily amount of the unborrowed portion of such Lender's Commitment, from the date hereof to and including the Facility Termination Date, payable for the immediately preceding fiscal quarter on each Payment Date hereafter and on the Facility Termination Date. The Applicable Commitment Fee Percentage shall equal: (i).125% (12.5 basis points) if the Leverage Ratio is less than or equal to 20% (Level I); (ii).15% (15 basis points) if the Leverage Ratio is less than or equal to 30%, but in excess of 20% (Level II); (iii).20% (20 basis points) if the Leverage Ratio is less than or equal to 40%, but in excess of 30% (Level III); and (iv).25% (25 basis points) if the Leverage Ratio is in excess of 40% (Level IV). For purposes of determining the Applicable Commitment Fee Percentage for a fiscal quarter, the Leverage Ratio shall be determined from the financial statements delivered by the Borrower pursuant to Section 6.1(a) and (b). The Commitment Fee shall be calculated by the Agent for a fiscal quarter based on the Applicable Commitment Fee Percentage as of the last day of that fiscal quarter. The adjustment, if any, to the Applicable Commitment Fee Percentage shall be effective as of the first day of the first fiscal quarter beginning after the quarter in which Borrower's quarterly financial statements have been received pursuant to Section 6.1(b). The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in integral multiples of Five Million Dollars ($5,000,000), upon at least three Business Days' written notice to the Agent, which notice shall specify the amount of any such reduction, provided, however, that the amount of the Aggregate Commitment may not be reduced below the Aggregate Outstanding Credit Exposure. All accrued Commitment Fees shall be payable on the effective date of any termination of the Commitments of the Lenders. For illustrative purposes, the following grid summarizes the determination of the Commitment Fee, the Floating Rate, the Fixed Rate and the LC Fee (see Section 2.19(d)) based on the Leverage Ratio (Commitment Fee, Applicable Margin and LC Fee expressed in basis points ((bp) per annum): LEVEL I LEVEL II LEVEL III LEVEL IV if Total if Total if Total if Total Debt to Debt to Debt to Debt to Total...
Commitment Fee; Reductions in Aggregate Commitment. The Borrower agrees to pay to the Agent for the account of each Lender a commitment fee of .25% per annum on the daily unused portion of such Lender’s Commitment from the date hereof to and including the Revolving Credit Termination Date, payable on each Payment Date hereafter and on the Revolving Credit Termination Date. The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in a minimum aggregate amount of $10,000,000 or any integral multiple of $5,000,000 in excess thereof, upon at least two Business Days’ written notice to the Agent, which notice shall specify the amount of any such reduction, provided, however, that the amount of the Aggregate Commitment may not be reduced below the aggregate principal amount of the outstanding Advances. All accrued commitment fees shall be payable on the effective date of any termination of the obligations of the Lenders to make Loans hereunder.
Commitment Fee; Reductions in Aggregate Commitment. (a) Borrower agrees to pay to the Agent for the account of the Lenders according to their Pro Rata Shares a commitment fee at a per annum rate equal to the Commitment Fee Rate on the average daily unused portion of the Aggregate Commitment. Commitment fees payable by Borrower shall accrue from the Closing Date to the Facility Termination Date (or, if later, to the date all of Borrower’s Obligations have been paid in full) and shall be payable on each Payment Date and on the Facility Termination Date (and, if applicable, thereafter on demand). For purposes of clarification, Swingline Loans shall not be considered outstanding for purposes of determining the unused portion of the Aggregate Commitment in calculating commitment fees.
