Facility Fee; Fee Letter Sample Clauses

Facility Fee; Fee Letter. (a) If, for any calendar quarter during the Term, the average daily unpaid balance of the Advances for each day of such quarter is less than the Maximum Revolving Advance Amount, then Borrowers shall pay to Administrative Agent, for the ratable benefit of the Lenders, a facility fee at a rate equal to three-eighths of one percent (.375%) per annum on the amount by which the Maximum Revolving Advance Amount exceeds such average daily unpaid balance. Such facility fee shall be payable to Administrative Agent in arrears on the first day of each calendar quarter. (b) The Borrowers shall pay the fees set forth in the Fee Letter in the manner and at the times required by the Fee Letter.