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.
Appears in 4 contracts
Samples: Credit Agreement (Kimball International Inc), Credit Agreement (Kimball International Inc), Credit Agreement (Kimball International Inc)
Commitment Fee; Reductions in Aggregate Commitment. The (a) Borrower agrees to pay to the Agent for the account of each Lender the Lenders according to their Pro Rata Shares a commitment fee at a per annum rate equal to the Applicable Commitment Fee Rate on the average daily Available unused portion of the Aggregate Commitment. Commitment fees payable by Borrower shall accrue from the date hereof Closing Date to and including the Facility Termination DateDate (or, if later, to the date all of Borrower’s Obligations have been paid in full) and shall be payable on each Payment Date hereafter and on the Facility Termination DateDate (and, if applicable, thereafter on demand). Swing Line For purposes of clarification, Swingline Loans shall not count as usage be considered outstanding for purposes of any Lender's determining the unused portion of the Aggregate Commitment for the purpose of in calculating the commitment fee due hereunder. The fees.
(b) Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in accordance with their Pro Rata Shares, and in integral multiples of $5,000,000 (or the Approximate Equivalent Amount if denominated in an Agreed Currency other than Dollars)10,000,000, upon at least five Business Days' ’ written notice to the Agent, which notice shall specify the amount of any such reduction, provided, however, provided that the amount of the Aggregate Commitment may not be reduced below the aggregate principal Dollar Amount amount of the outstanding AdvancesOutstanding Credit Extensions on the date of such notice. All fees in respect of the Aggregate Commitment accrued commitment fees shall be payable on until 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 Aggregate Commitment shall be at any time paid on the Dollar Amount effective date of such Advance as determined on the most recent Computation Date with respect to such Advancetermination.
Appears in 2 contracts
Samples: Credit Agreement (Pepco Holdings Inc), Credit Agreement (Pepco Holdings Inc)
Commitment Fee; Reductions in Aggregate Commitment. 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 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 10,000,000 (or the Approximate Equivalent Amount if denominated in an Agreed Currency other than Dollars), upon at least five three Business Days' prior 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 AdvancesAggregate 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 Loans Credit Extensions hereunder. For purposes of calculating the commitment fee hereunder, the principal amount of each Advance Credit Extension made in an Agreed Currency other than Dollars shall be at any time the Dollar Amount of such Advance Credit Extension as determined on the most recent Computation Date with respect to such AdvanceCredit Extension.
Appears in 2 contracts
Samples: Credit Agreement (Modine Manufacturing Co), Credit Agreement (Modine Manufacturing Co)
Commitment Fee; Reductions in Aggregate Commitment. The Borrower agrees to pay to the Administrative Agent for the account of each Lender a commitment fee at a per annum rate equal to the Applicable Commitment Fee Rate on the average daily Available Aggregate unused amount of such Lender’s Commitment from the date hereof to and including the Facility Termination Date, payable on the last day of each Payment Date calendar quarter hereafter and on the Facility Termination Date. Swing Line Loans ; provided that the Borrower shall not count as usage be obligated to pay a commitment fee for the account of any Lender with respect to any period during which such Lender is a Defaulting 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 an amount equal to $5,000,000 or an integral multiples multiple of $1,000,000 in excess of $5,000,000 (or the Approximate Equivalent Amount if denominated in an Agreed Currency other than Dollars), upon at least five two 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 principal Dollar Amount of the outstanding AdvancesAggregate 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 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.
Appears in 2 contracts
Samples: Credit Agreement (Madison Gas & Electric Co), Credit Agreement (Madison Gas & Electric Co)
Commitment Fee; Reductions in Aggregate Commitment. The Borrower agrees to pay to the Administrative Agent for the account of each Lender a commitment fee at a per annum rate equal to the Applicable Commitment Fee Rate on the average daily Available Aggregate unused amount of such Lxxxxx’s Commitment from the date hereof to and including the Facility Termination Date, payable on the last day of each Payment Date calendar quarter hereafter and on the Facility Termination Date. Swing Line Loans ; provided that the Borrower shall not count as usage be obligated to pay a commitment fee for the account of any Lender with respect to any period during which such Lender is a Defaulting 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 an amount equal to $5,000,000 or an integral multiples multiple of $1,000,000 in excess of $5,000,000 (or the Approximate Equivalent Amount if denominated in an Agreed Currency other than Dollars), upon at least five two 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 principal Dollar Amount of the outstanding AdvancesAggregate 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 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.
Appears in 2 contracts
Samples: Credit Agreement (Madison Gas & Electric Co), Credit Agreement (Madison Gas & Electric Co)
Commitment Fee; Reductions in Aggregate Commitment. The Borrower agrees Borrowers agree to pay to the Administrative 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 Borrowers may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in a minimum amount of $2,000,000 or any integral multiples of $5,000,000 1,000,000 in excess thereof (or the Approximate Equivalent Amount if denominated in an Agreed Currency other than Dollars), upon at least five three 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 principal Dollar Amount of the outstanding AdvancesAggregate 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 Loans Credit Extensions 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.
Appears in 2 contracts
Samples: Credit Agreement (Core Laboratories N V), Credit Agreement (Core Laboratories N V)
Commitment Fee; Reductions in Aggregate Commitment. The Borrower agrees to pay to the Administrative Agent for the account of each Lender a commitment fee at a per annum rate equal to the Applicable Fee Rate on multiplied by the average daily Available Aggregate amount, calculated daily, equal to such Lender's Commitment minus such Lender's pro rata share of all outstanding Loans and Advances, Outstanding Letters of Credit and unrepaid L/C Drawings, from the date hereof to and including the Facility Termination Date, payable quarterly, in arrears, on the last day of each Payment Date hereafter calendar quarter 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 the minimum amount of $500,000 and integral multiples of $5,000,000 (or the Approximate Equivalent Amount if denominated 100,000 in an Agreed Currency other than Dollars)excess thereof, upon at least five ten 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 principal Dollar Amount 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.
Appears in 1 contract
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 of 12.5 basis points per annum rate equal to the Applicable Fee Rate on the average daily Available Aggregate unborrowed 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. Swing Line Loans shall not count as usage In calculating the unborrowed portion of a Lender's Commitment, the undrawn amount of any Lender's Commitment for outstanding Commercial Letters of Credit will not be considered usage, but the purpose undrawn amount of calculating the commitment fee due hereunderany outstanding Standby Letters of Credit will be considered usage. 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 ten 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 amount of the outstanding AdvancesAdvances and Facility Letter of Credit Obligations. 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.
Appears in 1 contract
Commitment Fee; Reductions in Aggregate Commitment. 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 Available Aggregate 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. , provided that, solely for purposes of determining such commitment fees, Swing Line Loans shall not count as usage of any Lender's ’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)10,000,000, upon at least five three Business Days' ’ prior 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 AdvancesAggregate 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 Loans Credit Extensions hereunder. For purposes of calculating the commitment fee hereunder, the principal amount of each Advance Credit Extension made in an Agreed Currency other than Dollars shall be at any time the Dollar Amount of such Advance Credit Extension as determined on the most recent Computation Date with respect to such AdvanceCredit Extension.
Appears in 1 contract
Commitment Fee; Reductions in Aggregate Commitment. (a) The Borrower agrees to pay to the Administrative Agent for the account of each Lender according to its Pro Rata Share a commitment fee (the "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 in arrears 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. .
(b) 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)5,000,000.00, upon at least five three (3) Business Days' written notice to the Administrative Agent, which notice shall specify the amount of any such reduction; PROVIDED, provided, howeverHOWEVER, that the amount of the Aggregate Commitment may not be reduced below the aggregate principal Dollar Amount of the outstanding AdvancesAggregate 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 Loans Credit Extensions 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.
Appears in 1 contract
Commitment Fee; Reductions in Aggregate Commitment. 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 Available Aggregate 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. Swing Line Loans shall not count as usage of any Lender's ’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 10,000,000 (or the Approximate Equivalent Amount if denominated in an Agreed Currency other than Dollars), upon at least five three Business Days' ’ prior 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 AdvancesAggregate 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 Loans Credit Extensions hereunder. For purposes of calculating the commitment fee hereunder, the principal amount of each Advance Credit Extension made in an Agreed Currency other than Dollars shall be at any time the Dollar Amount of such Advance Credit Extension as determined on the most recent Computation Date with respect to such AdvanceCredit Extension.
Appears in 1 contract
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 Available 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. Swing Line Loans shall not count as usage of any Lender's Commitment for the purpose of calculating the commitment fee due hereunder. .
(b) The Borrower may permanently reduce the Aggregate Commitment in whole, or in part by reducing each of the Aggregate Revolving Credit Commitment and the Aggregate Facility LC Commitment 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)5,000,000, upon at least five three Business Days' Day's written notice to the Agent, which notice shall specify the amount of any such reduction, provided, however, that (i) the amount of the Aggregate Commitment may not be reduced below the aggregate principal Dollar Amount Aggregate Outstanding Credit Exposure; (ii) the amount of the Aggregate Revolving Credit Commitment shall not be reduced below the amount of outstanding AdvancesRevolving Credit Loans, and, (iii) the Aggregate Facility LC Commitment 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 Loans Credit Extensions 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.
Appears in 1 contract
Samples: Credit Agreement (Shaw Group Inc)
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 Available 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. Swing Line Loans shall not count as usage of any Lender's Commitment for the purpose of calculating the commitment fee due hereunder. .
(b) The Borrower may permanently reduce the Aggregate Commitment in whole, or in part by reducing each of the Aggregate Revolving Credit Commitment and the Aggregate Facility LC Commitment 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)5,000,000, upon at least five three Business Days' Day’s written notice to the Agent, which notice shall specify the amount of any such reduction, provided, however, that (i) the amount of the Aggregate Commitment may not be reduced below the aggregate principal Dollar Amount Aggregate Outstanding Credit Exposure; (ii) the amount of the Aggregate Revolving Credit Commitment shall not be reduced below the amount of outstanding AdvancesRevolving Credit Loans, and, (iii) the Aggregate Facility LC Commitment 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 Loans Credit Extensions 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.
Appears in 1 contract
Samples: Credit Agreement (Shaw Group Inc)
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 of 20 basis points per annum rate equal to the Applicable Fee Rate on the average daily Available Aggregate unborrowed 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. Swing Line Loans shall not count as usage In calculating the unborrowed portion of a Lender's Commitment, the undrawn amount of any Lender's Commitment for outstanding Commercial Letters of Credit will not be considered usage, but the purpose undrawn amount of calculating the commitment fee due hereunderany outstanding Standby Letters of Credit will be considered usage. 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 ten 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 amount of the outstanding AdvancesAdvances and Facility Letter of Credit Obligations. 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.
Appears in 1 contract
Samples: Credit Agreement (Platinum Technology International Inc)
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 unused portion of such Lender's Revolving Loan 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 as to the Commitment of any the Swing Line Lender's Commitment , and other Lenders Participating therein, 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)5,000,000, upon at least five three (3) 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 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.
Appears in 1 contract
Samples: Credit Agreement (Matrix Service Co)
Commitment Fee; Reductions in Aggregate Commitment. The Borrower agrees Borrowers jointly and severally agree 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 Available Aggregate Commitment from the date hereof last Payment Date on which the commitment fee was paid under the Original Agreement to and including the Facility Termination Date, payable on each Payment Date hereafter with respect to the fee accrued to but not including the first day of each month and on the Facility Termination Date. , PROVIDED that 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 Company 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)5,000,000, upon at least five three Business Days' written notice to the Agent, which notice shall specify the amount of any such reduction, providedPROVIDED, howeverHOWEVER, that the amount of the Aggregate Commitment may not be reduced below the aggregate principal Dollar Amount of the outstanding AdvancesAggregate 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 Loans Credit Extensions 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.
Appears in 1 contract
Commitment Fee; Reductions in Aggregate Commitment. The Borrower Company 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 Available Aggregate 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. , provided that, solely for purposes of determining such commitment fees, Swing Line Loans shall not count as usage of any Lender's ’s Commitment for the purpose of calculating the commitment fee due hereunder. The Borrower Company 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)10,000,000, upon at least five three Business Days' ’ prior 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 AdvancesAggregate 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 Loans Credit Extensions hereunder. For purposes of calculating the commitment fee hereunder, the principal amount of each Advance Credit Extension made in an Agreed Currency other than Dollars shall be at any time the Dollar Amount of such Advance Credit Extension as determined on the most recent Computation Date with respect to such AdvanceCredit Extension.
Appears in 1 contract
Commitment Fee; Reductions in Aggregate Commitment. 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 Available Aggregate Commitment from the date hereof to and including the Facility Termination Date, said commitment fee to be 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 1,000,000 (or the Approximate Equivalent Amount amount if denominated in an Agreed Currency other than Dollars), upon at least five 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 principal Dollar Amount of the outstanding AdvancesAggregate 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 Loans Credit Extensions 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 amount of such Advance as determined on the most recent Computation Date with respect to such Advance.
Appears in 1 contract
Samples: Credit Agreement (Qad Inc)