Common use of Duration Fee Clause in Contracts

Duration Fee. Provided that the Revolving Credit Effective Date has not occurred prior to the day that is 90 days after the Agreement Date, the Company agrees to pay to the Administrative Agent duration fees for the ratable benefit of the Term Loan Lenders in amounts equal to the percentage as determined in accordance with the grid below of the principal amount of the aggregate outstanding Term Loans under the Term Loan Facility as of the close of business on each date set forth in the grid below, earned and payable on such date: Duration Fees 45 days after the Agreement Date 90 days after the Agreement Date 0.05% 0.10%