Delayed Draw Term Loan Commitment Fees Sample Clauses

Delayed Draw Term Loan Commitment Fees. (1) In respect of any Delayed Draw Term Loan advance, a commitment fee in an amount equal to 0.25% of the advance amount of such Delayed Draw Term Loan, for the ratable benefit of the Term Loan Lenders.
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Delayed Draw Term Loan Commitment Fees. The Borrower agrees to pay to the Administrative Agent for the account of each Delayed Draw Term Loan Lender a commitment fee for the period from and including the Effective Date to the last day of the Delayed Draw Term Loan Commitment Period, computed at the Commitment Fee Rate applicable to the Delayed Draw Term Loan Commitment on the average daily amount of the Available Delayed Draw Term Loan Commitment of such Lender during the period for which payment is made, payable quarterly in arrears on the last day of each March, June, September and December and on the last day of the Delayed Draw Term Loan Commitment Period, commencing on the first of such dates to occur after the date hereof.
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Delayed Draw Term Loan Commitment Fees. The Borrower agrees to pay to the Administrative Agent for the account of each Delayed Draw Term Lender under the Delayed Draw Term Loan Facility in accordance with its Applicable Percentage, a commitment fee in an amount equal to (x) from the Closing Date to and including the one year anniversary of the Closing Date, 2.00% per annum and (y) thereafter 3.00% per annum, in each case on the undrawn portion of the Delayed Draw Term Loan Commitments and which shall begin to accrue on the Closing Date until the Delayed Draw Term Loan Commitment Expiration Date; provided that any commitment fee accrued with respect to any of the Delayed Draw Term Loan 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 Delayed Draw Term Loan Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The fees described in this Section 2.09(2) shall accrue at all times from the Closing Date (and for the avoidance of doubt, the commitment fee on the Delayed Draw Term Loan Commitments shall accrue from the Closing Date) until the Maturity Date for the applicable Delayed Draw Term Loan Commitment, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (x) quarterly in arrears on the last Business Day of each fiscal quarter, commencing with the fiscal quarter ending June 30, 2020 (for the quarterly period (or portion thereof) ended on such day for which no payment has been received) and (y) on the Delayed Draw Term Loan Commitment Expiration Date (for the period ended on such date for which no payment has been received pursuant to clause (x) above) and shall be calculated based upon the actual number of days elapsed over a 360-day year. The commitment fee set forth in this clause (2) shall be calculated quarterly in arrears, and if there is any change in the commitment fee rate specified above 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 commitment fee rate was in effect.
Sample 1
Delayed Draw Term Loan Commitment Fees. ‌ For the period from the Closing Date to the Delayed Draw Term Loan Commitment Termination Date, Borrowers jointly and severally agree to pay to Agent, for the account of each Lender according to such Lender’s Pro Rata Delayed Draw Term Loan Share (as adjusted from time to time), a commitment fee equal to 1.00% per annum multiplied by the average principal amount of the unused Delayed Draw Term Loan Commitment during the applicable calendar quarter (the “Delayed Draw Term Loan Commitment Fee”). The Delayed Draw Term Loan Commitment Fee shall be payable in arrears on the first day of each calendar quarter and on the Delayed Draw Term Loan Commitment Termination Date for any period then ending for which the Delayed Draw Term Loan Commitment Fee shall not have previously been paid. The Delayed Draw Term Loan Commitment Fee shall be computed for the actual number of days elapsed on the basis of a year of 365 days.
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Related to Delayed Draw Term Loan Commitment Fees

  • Delayed Draw Term Loans (a) During the Delayed Draw Term Loan Availability Period, the Borrower may request, in accordance with this Section 2.5(a), up to four (4) draws of delayed draw term loans (the “Delayed Draw Term Loans”) in an aggregate principal amount not to exceed the Delayed Draw Term Loan Amount. Each such draw of Delayed Draw Term Loans shall be in a minimum amount of $25,000,000, or an amount equal to the remaining Delayed Draw Term Loan Commitments. Each Borrowing of the Delayed Draw Term Loans shall be made on the date stated in the Borrower’s Notice of Borrowing delivered to the Agent (which shall be delivered no less than five (5) Business Days in advance of the proposed borrowing of Delayed Draw Term Loans) in connection therewith (each such borrowing date, a “Delayed Draw Funding Date”). Each existing Lender shall be offered the opportunity to provide (but, for the avoidance of doubt, shall have no obligation to provide) a portion of the Delayed Draw Term Loan Commitments requested by the Borrower on a pro rata basis based on such existing Lender’s Pro Rata Share of the Term Loans then outstanding; provided that (i) each existing Lender shall be deemed to decline to exercise its right to provide its Pro Rata Share of the Delayed Draw Term Loan Commitments if such Lender does not agree to provide such Delayed Draw Term Loan Commitments within five (5) Business Days after the Borrower delivers a written request for such Delayed Draw Term Loan Commitments to the Agent (on behalf of such Lender) and (ii) the Borrower may offer to additional potential Lenders (in addition to the existing Lenders) the ability to provide Delayed Draw Term Loan Commitments in its reasonable discretion.

  • Term Loan Commitments Subject to the terms and conditions hereof, and relying upon the representations and warranties herein set forth, each Lender severally agrees to make a term loan (the “Term Loan”) to the Borrower on the Closing Date in such principal amount as the Borrower shall request up to, but not exceeding such Lender’s Term Loan Commitment.

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