Deferred Commitment Fee Sample Clauses

A Deferred Commitment Fee clause establishes the obligation for a borrower to pay a fee to the lender for the unused portion of a loan commitment, with payment of the fee postponed to a later date. Typically, this fee accrues over time based on the undrawn amount of a credit facility and is paid at specified intervals or upon certain triggering events, such as the closing of the loan or the end of the commitment period. The core function of this clause is to compensate the lender for reserving funds that are not immediately drawn by the borrower, thereby addressing the opportunity cost and ensuring the lender is remunerated for making credit available even if it is not utilized right away.
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Deferred Commitment Fee. If Lenders' funding obligations in respect of the Revolving Loan Commitment under this Agreement terminate for any reason (whether by voluntary termination by Borrowers, by reason of the occurrence of an Event of Default or otherwise) prior to the Commitment Expiry Date, Borrowers shall pay to Administrative Agent, for the benefit of all Lenders committed to make Revolving Loans, a fee (the "DEFERRED COMMITMENT FEE") as compensation for the costs of such Lenders being prepared to make funds available to Borrowers under this Agreement, equal to an amount determined by multiplying the Revolving Loan Commitment by the following applicable percentage amount: two percent (2.0%) if such termination occurs prior to the first anniversary of the Closing Date, and one percent (1.0%) if such termination occurs prior to the second anniversary of Closing Date. No amount will be payable pursuant to this paragraph if the Revolving Loan Commitment of the Lenders under this Agreement terminate after the second anniversary of the Closing Date.
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Deferred Commitment Fee. If Lenders' funding obligations in respect of the Revolving Loan Commitment under this Agreement terminate for any reason (whether by voluntary termination by Borrower, by reason of the occurrence of an Event of Default or otherwise) prior to end of the Closed Period, Borrower shall pay to Administrative Agent, for the benefit of all Lenders committed to make Revolving Loans, a fee (the "DEFERRED COMMITMENT FEE") as compensation for the costs of such Lenders being prepared to make funds available to Borrower under this Agreement, equal to the greater of: (i) the Revolving Yield Maintenance Amount and (ii) an amount determined by multiplying the Revolving Loan Commitment by three percent (3.0%). No amount will be payable pursuant to this paragraph if Borrower terminates the Revolving Loan Commitment after the Closed Period.
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Deferred Commitment Fee. If, prior to the thirty-third calendar month anniversary of the Closing Date, (i) Borrower permanently prepays the Obligations in full and terminates the Commitments, or (ii) the Lenders terminate the Revolving Loan Commitment after the occurrence of an Event of Default, Borrower shall pay to Agent, for the benefit of Lenders, as compensation for the costs of Lenders being prepared to make funds available to Borrower under this Agreement, an amount determined by multiplying the percentage set forth below by $25,000,000: three percent (3.0%) for the first eighteen (18) months following the Closing Date and one and one half percent (1.5%) for the nineteenth through thirty-second months following the Closing Date. No amount will be payable pursuant to this paragraph if Borrower voluntarily prepays the Obligations in full or the Lenders terminate the Revolving Loan Commitment due to, and during the continuance of an Event of Default after the thirty-third calendar month anniversary of the Closing Date. Notwithstanding the foregoing subsection 2.3(d), in the event that Agent exercises its right to implement reserves or new eligibility criteria not specifically provided for in the Agreement, and the effect of the implementation of such reserves or new eligibility criteria is to reduce the available Borrowing Base by more than thirty five percent (35%) in comparison to the Borrowing Base calculated without the effect of such reserves or new eligibility criteria, Borrower shall be permitted to voluntarily and permanently prepay the Obligations in full and terminate the Revolving Loan Commitments without incurring the deferred commitment fee otherwise imposed under this subjection 2.3(d).
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Deferred Commitment Fee. In consideration of the Lenders providing the Credit Facility, the Construction Receiver shall pay to the Administrative Agent, for the account of the Lenders, a fee of $200,000 which is fully earned on the date when the Settlement Approval Order is final and any appeal period has expired or any appeal therefrom has been dismissed and is due and payable in accordance with Section 5.01.
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Deferred Commitment Fee. If Administrative Agent’s funding obligations in respect of the Revolving Loan Commitment under this Agreement terminate for any reason (whether by voluntary termination by Borrowers, by reason of the occurrence of an Event of Default or otherwise) prior to the Commitment Expiry Date, Borrowers shall pay to Administrative Agent, for the benefit of all Lenders committed to make Revolving Loans, a fee (the “Deferred Commitment Fee”) as compensation for the costs of such Lenders being prepared to make funds available to Borrowers under this Agreement, equal to an amount determined by multiplying the Revolving Loan Commitment by the following applicable percentage amount: (x) two and one-half percent (2.5%) if such termination occurs prior to the first anniversary of the Closing Date, (y) two percent (2.0%) if such termination occurs after the first but before the second anniversary of the Closing Date, and (z) one percent (1.0%) if such termination occurs after the second but before the fifth anniversary of the Closing Date. Notwithstanding anything to the contrary contained in the foregoing, if any Lender party hereto on the Closing Date shall at any time when no Event of Default has occurred and remains outstanding and without obtaining the prior written consent of Borrowers (which such consent of Borrowers shall not be unreasonably withheld) either (x) assign any of its Loans and interests as a Lender in this Agreement pursuant to Section 14.6(a)(i) or (y) grant a participating interest or “participation” in any of its Loans that is not a “Limited Rights Participation” as defined in the next sentence, then, at any time following any such assignment by such Lender or granting by such Lender of a participation that is not a Limited Rights Participation (in either such case in the absence of the existence of an Event of Default), Borrowers shall not be obligated to pay any Deferred Commitment Fee of any kind pursuant to this paragraph in connection with any termination of this Agreement, regardless of whether the fifth anniversary of the Closing Date has occurred at the time of any such termination. For the purposes of this Section 2.3(e) only, a “Limited Rights Participation” is a participation which does not grant to the participant any direct or indirect voting right with respect to any matters that require the vote or consent of the Lenders hereunder (including the contractual right between such participant and the Lender granting such participation to co...
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Deferred Commitment Fee. If Administrative Agent’s funding obligations in respect of the Revolving Loan Commitment under this Agreement terminate for any reason (whether by voluntary termination by Borrowers, by reason of the occurrence of an Event of Default or otherwise) prior to the Commitment Expiry Date, Borrowers shall pay to Administrative Agent, for the benefit of all Lenders, in accordance with their respective pro rata shares, committed to make Revolving Loans, a fee (the “Deferred Commitment Fee”) as compensation for the costs of such Lenders being prepared to make funds available to Borrowers under this Agreement, equal to an amount determined by multiplying the Revolving Loan Commitment by the following applicable percentage amount: three percent (3.0%) if such termination occurs on or prior to the first anniversary of the Closing Date, and two percent (2.0%) if such termination occurs after the first anniversary, but on or prior to the second anniversary of Closing Date and one percent (1.0%) if such termination occurs after the second anniversary, but on or prior to the third anniversary of the Closing Date. No amount will be payable pursuant to this paragraph if Borrowers voluntarily prepay the Obligations in full on or after the third anniversary of the Closing Date.
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Deferred Commitment Fee. In addition to all other fees and expenses paid by Borrower in connection with the Loan, Borrower shall pay to Lender a fully earned and nonrefundable commitment fee (the "Deferred Commitment Fee") in an amount equal to one percent (1%) of the original principal balance of this Note (as increased by any further advances), which shall be due and payable upon the earlier of (i) the payment by Borrower of all amounts due hereunder and under the other Loan Documents, or (ii) the Maturity Date (or any acceleration thereof upon an Event of Default). Notwithstanding the foregoing, the Deferred Commitment Fee shall be waived by Lender in the event Borrower refinances the Loan with a new permanent (i.e., ten year term) fixed rate loan from Lender or its affiliates (which may be provided by Lender or its affiliates in their sole discretion). The Deferred Commitment Fee shall not be due with respect to payments of principal resulting from the application of casualty or insurance proceeds to the Debt. [The balance of this page is intentionally left blank]
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Deferred Commitment Fee. If Agent’s funding obligations in respect of the Revolving Loan Commitment under this Agreement terminate for any reason (whether by voluntary termination by Borrowers, by reason of the occurrence of an Event of Default or otherwise) prior to the Commitment Expiry Date, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Revolving Loans, a fee (the “Deferred Commitment Fee”) as compensation for the costs of such Lenders being prepared to make funds available to Borrowers under this Agreement, equal to an amount determined by multiplying the Revolving Loan Commitment by the following applicable percentage amount: three percent (3.0%) for the first year following the Closing Date, two percent (2.0%) for the second and third years following the Closing Date, and one percent (1.0%) thereafter. No Deferred Commitment Fee shall be payable if this Agreement is terminated as a consequence of an assignment made under Section 11.6(a)(i) to which Borrower does not consent.
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Deferred Commitment Fee. If Agent’s and Lenders’ funding obligations in respect of the Revolving Loan Commitment under this Agreement terminate for any reason (whether by voluntary termination by Borrowers, by reason of the occurrence of an Event of Default or otherwise) prior to the Commitment Expiry Date, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Revolving Loans, a fee (the “Deferred Commitment Fee”) as compensation for the costs of such Lenders being prepared to make funds available to Borrowers under this Agreement, equal to an amount determined by multiplying the Revolving Loan Commitment by the following applicable percentage amount: two percent (2.0%) for the first year following the Closing Date, one and one quarter percent (1.25%) for the second year following the Closing Date, three quarters of one percent (0.75%) for the third year following the Closing Date and one quarter of one percent (0.25%) thereafter through and including (1) month prior to the Commitment Expiry Date.
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Related to Deferred Commitment Fee

  • Unused Commitment Fee Borrower shall pay to Bank a fee equal to ten-hundredths percent (0.10%) per annum (computed on the basis of a 360-day year, actual days elapsed) on the average daily unused amount of the Line of Credit, which fee shall be calculated on a calendar quarter basis by Bank and shall be due and payable by Borrower in arrears on the last day of each September, December, March and June.

  • Commitment Fee The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Facility in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee in Dollars equal to the Applicable Rate with respect to Revolving Credit Loan commitment fees, times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Facility exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Facility and (B) the Outstanding Amount of L/C Obligations for such Facility; provided that any commitment fee accrued with respect to any of the Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrower so long as such Lender shall be a Defaulting Lender, except to the extent that such commitment fee shall otherwise have been due and payable by the Borrower prior to such time; and provided, further, that no commitment fee shall accrue on any of the Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Revolving Credit Facility shall accrue at all times from the Closing Date until the Maturity Date for the Revolving Credit Commitments, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the Closing Date and on the Maturity Date for the Revolving Credit Commitments. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

  • Commitment Fees, etc (a) The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender a commitment fee for the period from and including the date hereof to the last day of the Revolving Commitment Period, computed at the Commitment Fee Rate on the average daily amount of the Available Revolving Commitment of such Lender during the period for which payment is made, payable quarterly in arrears on each Fee Payment Date, commencing on the first such date to occur after the date hereof. (b) The Borrower agrees to pay to the Administrative Agent the fees in the amounts and on the dates as set forth in any fee agreements with the Administrative Agent and to perform any other obligations contained therein.

  • Commitment Fees The Borrowers shall pay to the Administrative Agent (x) for the account of each Revolving Credit Lender in accordance with its Pro Rata Share, (i) a commitment fee equal to the Applicable Rate times the average daily unused amount of the Revolving Credit Commitments of such Revolving Credit Lender during the preceding quarter (or other period commencing with and including the Closing Date or ending with but excluding the applicable Revolving Credit Maturity Date or the date on which the Commitments of such Revolving Credit Lender shall expire or be terminated) (the “Commitment Fee”); provided, however, that any Commitment Fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that the Commitment Fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no Commitment Fee shall accrue on any of the Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The Commitment Fee shall accrue at all times during the Initial Availability Period (and thereafter so long as any Revolving Credit Loans or L/C Obligations remain outstanding), including at any time during which one or more of the conditions in Article V is not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and to but excluding the last day of the Initial Availability Period (and, if applicable, thereafter on demand). The Commitment Fee shall be calculated quarterly in arrears. For the avoidance of doubt, for purposes of computing the Commitment Fee, Revolving Credit Commitments shall be deemed to be used to the extent of the Outstanding Amount of the Revolving Credit Loans and the Outstanding Amount of all L/C Obligations.

  • Revolving Credit Commitment Fee Borrower shall pay to Administrative Agent for the ratable account of the Lenders in accordance with their Revolver Percentages a commitment fee at the rate per annum equal to the Applicable Margin (computed on the basis of a year of 360 days and the actual number of days elapsed) on the average daily Unused Revolving Credit Commitments. Such commitment fee shall be payable quarterly in arrears on the last day of each March, June, September, and December in each year (commencing on the first such date occurring after the date hereof) and on the Revolving Credit Termination Date, unless the Revolving Credit Commitments are terminated in whole on an earlier date, in which event the commitment fee for the period to the date of such termination in whole shall be paid on the date of such termination.