Common use of Facility Fee; Reductions in Aggregate Commitment Clause in Contracts

Facility Fee; Reductions in Aggregate Commitment. The Borrowers agree to pay to the Administrative Agent for the account of each Lender a facility fee at a per annum rate equal to the Applicable Facility Fee Rate on such Lender’s Commitment from the date hereof to the Facility Termination Date applicable to such Lender, payable on each Payment Date hereafter and on the Facility Termination Date applicable to such Lender, provided that the Borrowers shall not pay any facility fee nor shall any facility fee accrue in respect of a Defaulting Xxxxxx’s unused Commitment so long as such Defaulting Lender is a Defaulting Lender. The Borrowers may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in a minimum aggregate amount of $5,000,000 or any integral multiple of $1,000,000 in excess thereof, upon at least three (3) Business Days’ written notice to the Administrative Agent, which notice shall specify the amount of any such reduction, provided, however, that the amount of the Aggregate Commitment may not be reduced below the Aggregate Outstanding Credit Exposure. All accrued facility fees shall be payable on the effective date of any termination of the obligations of the Lenders to make Credit Extensions hereunder.

Appears in 4 contracts

Samples: Credit Agreement (Aon PLC), Credit Agreement (Aon PLC), Credit Agreement (Aon PLC)

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Facility Fee; Reductions in Aggregate Commitment. The Borrowers agree ParentBorrowers agrees to pay to the Administrative Agent for the account of each Lender a facility fee at a per annum rate equal to the Applicable Facility Fee Rate on such Lender’s Commitment from the date hereof to the Facility Termination Date applicable to such Lender, payable on each Payment Date hereafter and on the Facility Termination Date applicable to such Lender, provided that the Borrowers ParentBorrowers shall not pay any facility fee nor shall any facility fee accrue in respect of a Defaulting XxxxxxLender’s unused Commitment so long as such Defaulting Lender is a Defaulting Lender. The Borrowers ParentBorrowers may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in a minimum aggregate amount of $5,000,000 or any integral multiple of $1,000,000 in excess thereof, upon at least three (3) Business Days’ written notice to the Administrative Agent, which notice shall specify the amount of any such reduction, provided, however, that the amount of the Aggregate Commitment may not be reduced below the Aggregate Outstanding Credit Exposure. All accrued facility fees shall be payable on the effective date of any termination of the obligations of the Lenders to make Credit Extensions hereunder.

Appears in 3 contracts

Samples: Year Credit Agreement (Aon PLC), Year Credit Agreement (Aon PLC), Credit Agreement

Facility Fee; Reductions in Aggregate Commitment. The Borrowers agree to pay to the Administrative Agent for the account of each Lender a facility fee at a per annum rate equal to the Applicable Facility Fee Rate on such Lender’s Commitment from the date hereof to the Facility Termination Date applicable to such Lender, payable on each Payment Date hereafter and on the Facility Termination Date applicable to such Lender, provided that the Borrowers shall not pay any facility fee nor shall any facility fee accrue in respect of a Defaulting XxxxxxLender’s unused Commitment so long as such Defaulting Lender is a Defaulting Lender. The Borrowers may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in a minimum aggregate amount of $5,000,000 or any integral multiple of $1,000,000 in excess thereof, upon at least three (3) Business Days’ written notice to the Administrative Agent, which notice shall specify the amount of any such reduction, provided, however, that the amount of the Aggregate Commitment may not be reduced below the Aggregate Outstanding Credit Exposure. All accrued facility fees shall be payable on the effective date of any termination of the obligations of the Lenders to make Credit Extensions hereunder.

Appears in 3 contracts

Samples: Credit Agreement (Aon PLC), Credit Agreement (Aon PLC), Credit Agreement (Aon PLC)

Facility Fee; Reductions in Aggregate Commitment. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the account of each Lender a facility fee at a per annum rate equal to the Applicable Facility Fee Rate on such Lender’s Commitment from the date hereof to the Facility Termination Date applicable to such LenderDate, payable on each Payment Date hereafter and on the Facility Termination Date applicable to such LenderDate, provided that the Borrowers Borrower shall not pay any facility fee nor shall any facility fee accrue in respect of a Defaulting XxxxxxLender’s unused Commitment so long as such Defaulting Lender is a Defaulting Lender. The Borrowers Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in a minimum aggregate amount of $5,000,000 10,000,000 or any integral multiple of $1,000,000 in excess thereof, upon at least three (3) Business Days’ written notice to the Administrative Agent, which notice shall specify the amount of any such reduction, provided, however, that the amount of the Aggregate Commitment may not be reduced below the Aggregate Outstanding Credit Exposure. All accrued facility fees shall be payable on the effective date of any termination of the obligations of the Lenders to make Credit Extensions hereunder.

Appears in 2 contracts

Samples: Assignment and Assumption (Aon Corp), Credit Agreement (Aon Corp)

Facility Fee; Reductions in Aggregate Commitment. The Borrowers agree Parent agrees to pay to the Administrative Agent for the account of each Lender a facility fee at a per annum rate equal to the Applicable Facility Fee Rate on such Lender’s Commitment from the date hereof to the Facility Termination Date applicable to such Lender, payable on each Payment Date hereafter and on the Facility Termination Date applicable to such Lender, provided that the Borrowers Parent shall not pay any facility fee nor shall any facility fee accrue in respect of a Defaulting XxxxxxLender’s unused Commitment so long as such Defaulting Lender is a Defaulting Lender. The Borrowers Parent may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in a minimum aggregate amount of $5,000,000 or any integral multiple of $1,000,000 in excess thereof, upon at least three (3) Business Days’ written notice to the Administrative Agent, which notice shall specify the amount of any such reduction, provided, however, that the amount of the Aggregate Commitment may not be reduced below the Aggregate Outstanding Credit Exposure. All accrued facility fees shall be payable on the effective date of any termination of the obligations of the Lenders to make Credit Extensions hereunder.

Appears in 2 contracts

Samples: Assignment and Assumption (Aon PLC), Assignment and Assumption (Aon PLC)

Facility Fee; Reductions in Aggregate Commitment. The Borrowers agree Borrower agrees to pay to the Administrative Agent for the ratable account of each Lender a facility fee at a per annum rate equal to the Applicable Facility Fee Rate on Percentage times such Lender’s 's Commitment from the date hereof to and including the Facility Termination Date applicable to such Lender, payable in arrears on each Payment Date hereafter and on the Facility Termination Date applicable to such Lender, provided that the Borrowers shall not pay any facility fee nor shall any facility fee accrue in respect of a Defaulting Xxxxxx’s unused Commitment so long as such Defaulting Lender is a Defaulting LenderDate. The Borrowers Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders Lenders, in a minimum aggregate amount integral multiples of $5,000,000 or any integral multiple of $1,000,000 in excess thereof10,000,000, upon at least three (3) Business Days' written notice to the Administrative Agent, which notice shall specify the amount of any such reduction, ; provided, however, that the amount of the Aggregate Commitment may not be reduced below the Aggregate Outstanding Credit Exposureaggregate principal amount of the outstanding Advances. All accrued facility fees shall be payable on the effective date of any termination of the obligations of the Lenders to make Credit Extensions Loans hereunder.

Appears in 1 contract

Samples: Credit Agreement (Cna Surety Corp)

Facility Fee; Reductions in Aggregate Commitment. The Borrowers agree to pay to the Administrative Agent for the account of each Lender a facility fee at a per annum rate equal to the Applicable Facility Fee Rate on such LenderXxxxxx’s Commitment from the date hereof Effective Date to the Facility Termination Date applicable to such Lender, payable on each Payment Date hereafter and on the Facility Termination Date applicable to such Lender, provided that the Borrowers shall not pay any facility fee nor shall any facility fee accrue in respect of a Defaulting XxxxxxLender’s unused Commitment so long as such Defaulting Lender is a Defaulting Lender. The Borrowers may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in a minimum aggregate amount of $5,000,000 or any integral multiple of $1,000,000 in excess thereof, upon at least three (3) Business Days’ written notice to the Administrative Agent, which notice shall specify the amount of any such reduction, provided, however, that the amount of the Aggregate Commitment may not be reduced below the Aggregate Outstanding Credit Exposure. All accrued facility fees shall be payable on the effective date of any termination of the obligations of the Lenders to make Credit Extensions hereunder.

Appears in 1 contract

Samples: Credit Agreement (Aon PLC)

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Facility Fee; Reductions in Aggregate Commitment. The Borrowers agree ------------------------------------------------ Borrower agrees to pay to the Administrative Agent for the ratable account of each Lender a facility fee at a per annum rate equal to the Applicable Facility Fee Rate on Percentage times such Lender’s 's Commitment from the date hereof to and including the Facility Termination Date applicable to such Lender, payable in arrears on each Payment Date hereafter and on the Facility Termination Date applicable to such Lender, provided that the Borrowers shall not pay any facility fee nor shall any facility fee accrue in respect of a Defaulting Xxxxxx’s unused Commitment so long as such Defaulting Lender is a Defaulting LenderDate. The Borrowers Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in a minimum aggregate amount integral multiples of $5,000,000 or any integral multiple of $1,000,000 in excess thereof25,000,000, upon at least three (3) Business Days' written notice to the Administrative Agent, which notice shall specify the amount of any such reduction, ; provided, however, that the amount of the Aggregate Commitment may not be reduced below the Aggregate Outstanding Credit Exposureaggregate principal amount of the outstanding Advances. All accrued facility fees shall be payable on the effective date of any termination of the obligations of the Lenders to make Credit Extensions Loans hereunder.

Appears in 1 contract

Samples: Credit Agreement (Torchmark Corp)

Facility Fee; Reductions in Aggregate Commitment. The Borrowers agree to pay to the Administrative Agent for the account of each Lender a facility fee at a per annum rate equal to the Applicable Facility Fee Rate on such Lender’s Commitment from the date hereof Effective Date to the Facility Termination Date applicable to such Lender, payable on each Payment Date hereafter and on the Facility Termination Date applicable to such Lender, provided that the Borrowers shall not pay any facility fee nor shall any facility fee accrue in respect of a Defaulting Xxxxxx’s unused Commitment so long as such Defaulting Lender is a Defaulting Lender. The Borrowers may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in a minimum aggregate amount of $5,000,000 or any integral multiple of $1,000,000 in excess thereof, upon at least three (3) Business Days’ written notice to the Administrative Agent, which notice shall specify the amount of any such reduction, provided, however, that the amount of the Aggregate Commitment may not be reduced below the Aggregate Outstanding Credit Exposure. All accrued facility fees shall be payable on the effective date of any termination of the obligations of the Lenders to make Credit Extensions hereunder.

Appears in 1 contract

Samples: Credit Agreement (Aon PLC)

Facility Fee; Reductions in Aggregate Commitment. (a) The Borrowers agree Borrower agrees to pay to the Administrative Agent for the ratable account of each Lender a facility fee at a rate per annum rate equal to the Applicable Facility Fee Rate on Percentage times such Lender’s 's Commitment (whether used or unused) from the date hereof to and including the Facility Termination Date applicable to such LenderDate, payable in arrears on each Payment Date hereafter and on the Facility Termination Date applicable to Date; provided, that such Lender, provided that the Borrowers facility fee shall not pay accrue with -------- respect to the Commitment of any facility fee nor shall Lender during any facility fee accrue period in respect of a Defaulting Xxxxxx’s unused Commitment so long as which such Defaulting Lender is a Defaulting Lenderhas failed to make any Advance required hereunder. (b) The Borrowers Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders Lenders, in a minimum aggregate amount of $5,000,000 or any integral multiple 2,000,000 (and in multiples of $1,000,000 250,000 if in excess thereof), upon at least three (3) Business Days' written notice to the Administrative Agent, which notice shall specify the amount of any such reduction, ; provided, however, that the amount of the Aggregate -------- ------- Commitment may not be reduced below the Aggregate Outstanding Credit Exposureaggregate principal amount of the outstanding Advances. All accrued facility fees shall be payable on the effective date of any termination of the obligations of the Lenders to make Credit Extensions hereunderLoans hereunder and no facility fees shall accrue thereafter. 2.6.

Appears in 1 contract

Samples: Credit Agreement (Alleghany Corp /De)

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