Common use of Extension Fee Clause in Contracts

Extension Fee. If the Borrower exercises its right to extend the Revolving Credit Maturity Date in accordance with Section 2.13, the Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender a fee equal to fifteen hundredths of one percent (0.15%) of the amount of such Revolving Credit Lender’s Revolving Credit Commitment (whether or not utilized).

Appears in 3 contracts

Samples: Credit Agreement (RLJ Lodging Trust), Credit Agreement (RLJ Lodging Trust), Credit Agreement (RLJ Lodging Trust)

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Extension Fee. If the Borrower exercises its right to extend the Revolving Credit Maturity Date in accordance with Section 2.13., the Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender a fee equal to fifteen hundredths of one percent (0.15%) of the amount of such Revolving Credit Lender’s Revolving Credit Commitment (whether or not utilized).

Appears in 3 contracts

Samples: Credit Agreement (RLJ Lodging Trust), Credit Agreement (RLJ Lodging Trust), Credit Agreement (RLJ Lodging Trust)

Extension Fee. If the Borrower Company exercises its right to extend the Revolving Credit Maturity Date in accordance with Section 2.132.14., the Borrower Company agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender a fee equal to fifteen hundredths of one percent (0.15%) 0.075% of the amount of such Revolving Credit Lender’s aggregate Revolving Credit Commitment (whether or not utilized)) in effect on the effective date of such extension. Such fee shall be due and payable in full on and as a condition to the effective date of such extension.

Appears in 2 contracts

Samples: Credit Agreement (Park Hotels & Resorts Inc.), Credit Agreement (Park Hotels & Resorts Inc.)

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Extension Fee. If the Borrower Company exercises its right to extend the Revolving Credit Maturity Date in accordance with Section 2.132.14., the Borrower Company agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender a fee equal to fifteen hundredths of one percent (0.15%) 0.075% of the amount of such Revolving Credit Lender’s aggregate Revolving Credit Commitment (whether or not utilized)) in effect on the effective date of such extension. Such fee shall be due and payable in full on and as a condition to the effective date of such extension.[Intentionally Omitted].

Appears in 1 contract

Samples: Credit Agreement (Park Hotels & Resorts Inc.)

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