Facility B Commitment fee Clause Samples
The Facility B Commitment Fee clause defines the obligation of the borrower to pay a fee to the lender for the undrawn portion of Facility B during the commitment period. Typically, this fee is calculated as a percentage of the unused amount and is paid at regular intervals, such as quarterly, until the facility is fully drawn or cancelled. The core practical function of this clause is to compensate the lender for reserving funds that are available to the borrower but not yet utilized, thereby incentivizing efficient use of the facility and covering the lender's opportunity cost.
Facility B Commitment fee. (a) The Company must pay a commitment fee computed at the rate of 30 per cent. of the applicable Facility B Margin from time to time on the undrawn, uncancelled amount of each Lender’s Facility B Commitment.
(b) Accrued commitment fee is payable quarterly in arrear. Accrued commitment fee is also payable to the Facility Agent for the account of a Lender on the date its Facility B Commitment is cancelled in full.
Facility B Commitment fee. The Borrower agrees to pay to the Administrative Agent, for the account of the Lenders in accordance with each Lender's Facility B Commitment Percentage, a fee (the "FACILITY B COMMITMENT FEE"), during the Facility B Commitment Period, at a rate per annum equal to Commitment Fee Percentage on the average daily unused Aggregate Facility B Commitment. The Facility B Commitment Fee shall be payable (A) quarterly in arrears on the last Business Day of each March, June, September and December during such period, commencing on the first such day following the Effective Date, (B) on the date of any reduction in the Aggregate Facility B Commitment (to the extent of such reduction) and (C) on the Facility B Maturity Date. The Facility B Commitment Fee shall be calculated on the basis of a 365 or 366 day year, as the case may be, for the actual number of days elapsed.
Facility B Commitment fee. The Borrower shall pay to Bank a commitment fee of 0.50% of $1,500,000.00, payable upon execution of this Agreement. The Borrower hereby authorizes Bank to debit its account maintained with Bank for collection of the fee.
Facility B Commitment fee. The Borrower agrees to pay to the Agent for the account of each Lender a commitment fee at a rate per annum equal to the Facility B Applicable Commitment Fee Rate in effect from time to time on the daily unused portion of such Lender's Facility B Commitment from the Effective Date to but excluding the earliest of the Facility B Termination Date, the date of the reduction to zero of the Facility B Aggregate Commitment pursuant to SECTION 2.10.4 and the date of the termination of the Aggregate Commitment pursuant to SECTION 9.
1. Such commitment fees shall be payable on the last Business Day of each calendar quarter for the quarter then ending, and on the earliest of the Facility B Termination Date, the date of the reduction to zero of the Facility B Aggregate Commitment pursuant to SECTION 2.10.4 and the date of the termination of the Facility B Aggregate Commitment pursuant to SECTION 9.
1. Commitment fees shall be calculated for actual days elapsed on the basis of a 360-day year.
Facility B Commitment fee. In addition to the payments provided for in Article III, Company shall pay to Agent, for the account of each Bank, on the first day of each fiscal quarter of Company, a Facility B Revolving Credit Loan commitment fee ("Facility B Commitment Fee"). The Facility B Commitment Fee shall be calculated by applying the Applicable Margin (under the heading "Commitment Fee"), determined as of the beginning of such fiscal quarter of Company (calculated on the basis of a year consisting of 360 days) to the average daily amount of such Bank's Facility B Commitment which was unused during the immediately preceding fiscal quarter of Company.
Facility B Commitment fee. For the period from and including the Facility B Activation Date to but not including the Facility B Termination Date, the Company shall pay to the Agent for the account of the Lenders a commitment fee at the rate of one-eighth of one percent (1/8 of 1%) per annum (computed on the basis of a year of 360 days for the actual number of days elapsed) on the daily unused portion of the Available Facility B Commitments. Such facility fee accruing during each calendar quarter shall be payable quarter-annually in arrears on the 15th day of the immediately following calendar quarter (commencing on the first of such dates occurring after the Facility B Activation Date) and on the Facility B Termination Date.