Common use of Delayed Draw Ticking Fees Clause in Contracts

Delayed Draw Ticking Fees. The Borrower agrees to pay to the Administrative Agent in dollars for the account of each Lender a commitment fee (the “Delayed Draw Ticking Fee”), which shall accrue at the Applicable Delayed Draw Ticking Fee Rate on the average daily unused amount of the Delayed Draw Commitment of such Lender during the period from and including the Closing Date to but excluding the date on which the Delayed Draw Commitments terminate. Accrued Delayed Draw Ticking Fees shall be payable quarterly in arrears on the last Business Day of March, June, September and December of each year and on the date on which the Delayed Draw Commitments terminate, commencing on the first such date to occur after the Closing Date. All Delayed Draw Ticking Fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).

Delayed Draw Ticking Fees. The Borrower agrees Borrowers agree to pay to the Administrative Agent in dollars for the account of each Delayed Draw Term Loan Lender a commitment fee (the “Delayed Draw Ticking FeeFee ”), which shall accrue at the Applicable Delayed Draw Ticking Fee Rate ) equal to 1.00% per annum on the average actual daily unused amount of the Delayed Draw Term Loan Commitment of each such Delayed Draw Term Loan Lender during the period from and including the Closing Date to but excluding the date on which the applicable Delayed Draw Commitments terminateTerm Loan Commitment Termination Date. Accrued Delayed Draw Ticking Fees shall be payable quarterly in arrears (A) on the last Business Day of each March, June, September and December of each year and on the date on which the Delayed Draw Commitments terminateyear, commencing on the first such date to occur after the Closing Date, and (B) on the applicable Delayed Draw Term Loan Commitment Termination Date. All Delayed Draw Ticking Fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).