Fees Reductions in Aggregate Commitment Clause Samples
The "Fees; Reductions in Aggregate Commitment" clause defines how fees are calculated and paid in relation to the total amount of credit or commitment available under an agreement, and addresses how these fees are adjusted if the aggregate commitment is reduced. In practice, this clause typically specifies that certain fees—such as commitment or facility fees—are based on the total committed amount, and if the borrower or lender reduces this commitment, the fees are recalculated accordingly. This ensures that the financial obligations of the parties remain proportional to the actual commitment, preventing overpayment or underpayment of fees and maintaining fairness as the agreement evolves.
Fees Reductions in Aggregate Commitment. 2.4.1 The Borrower agrees to pay to the Administrative Agent for the account of each Lender according to its Pro Rata Share (a) a commitment fee at a per annum rate equal to the Applicable Commitment Fee Rate on the daily unused portion of the Aggregate Commitment (the “Commitment Fee”) from and including the date hereof to but excluding the Facility Termination Date, payable in arrears on each Payment Date and on the Facility Termination Date and (b) a utilization fee at a per annum rate equal to the Applicable Utilization Fee Rate on the aggregate principal amount of the outstanding Revolving Loans for each day on which the aggregate principal amount of the outstanding Revolving Loans equals or exceeds 50% of the Aggregate Commitment (the “Utilization Fee”) from and including the date hereof to but excluding the Facility Termination Date, payable in arrears on each Payment Date and on the Facility Termination Date. For purposes of calculating the Commitment Fee, Swingline Loans shall not be deemed a utilization of the Aggregate Commitment. For purposes of calculating the Utilization Fee, Swingline Loans shall be deemed a utilization of the Aggregate Commitment.
2.4.2 The Borrower agrees to pay to the Administrative Agent on the Closing Date, for the account of each Lender, an upfront fee as provided for in the Fee Letter.
2.4.3 The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in a minimum amount of $10,000,000 and higher integral multiples of $1,000,000, upon at least three Business Days’ prior written notice to the Administrative Agent, which notice shall specify the amount of any such reduction; provided that the amount of the Aggregate Commitment may not be reduced below the Aggregate Outstanding Credit Exposure. All accrued Commitment Fees and Utilization Fees shall be payable on the effective date of any termination of the Commitments in full.
Fees Reductions in Aggregate Commitment. 2.4.1 The Borrower agrees to pay to the Administrative Agent for the account of each Lender according to its Pro Rata Share a commitment fee at a per annum rate equal to the Applicable Commitment Fee Rate on the daily unused portion of the Aggregate Commitment (the “Commitment Fee”) from and including the date hereof to but excluding the Facility Termination Date, payable in arrears on each Payment Date and on the Facility Termination Date.
2.4.2 The Borrower agrees to pay to the Administrative Agent on the Closing Date, for the account of each Lender, an upfront fee as provided for in the Fee Letter.
2.4.3 The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in a minimum amount of $10,000,000 and higher integral multiples of $1,000,000, upon at least three Business Days’ prior written notice to the Administrative Agent, which notice shall specify the amount of any such reduction; provided that the amount of the Aggregate Commitment may not be reduced below the Aggregate Outstanding Credit Exposure. All accrued Commitment Fees shall be payable on the effective date of any termination of the Commitments in full.
Fees Reductions in Aggregate Commitment. (a) [Reserved].
(b) [Reserved].
(c) [Reserved].
Fees Reductions in Aggregate Commitment. (a) The Borrower agrees to pay to the Agent for the account of each Lender a facility fee of 0.125% per annum on such Lender's Commitment (irrespective of usage) from the date hereof to and including the Facility Termination Date, payable on each Payment Date hereafter and on the Facility Termination Date. The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in an amount of not less than $5,000,000 upon at least three Business Days' written notice to the 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 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 Loans hereunder.
(b) The Borrower agrees to pay the Agent for its own account such agent's fee as the Borrower and the Agent may agree from time to time.
Fees Reductions in Aggregate Commitment. (a) The Borrower agrees to pay to the Administrative Agent for the account of each Lender a facility fee (“Facility Fee”) at the Applicable Margin per annum on the unused portion of such Lender’s Commitment from the date hereof to and including the Facility Termination Date, payable on each Payment Date hereafter and on the Facility Termination Date. The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in an amount of not less than $5,000,000 and integral multiples of $1,000,000 upon at least three 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 principal amount of the outstanding Advances.
(b) The Borrower agrees to pay the Administrative Agent for its own account such fees as set forth in the Fee Letter.
Fees Reductions in Aggregate Commitment. 2.4.1. The Borrower agrees to pay to the Administrative Agent for the account of each Lender according to its Pro Rata Share a commitment fee at a per annum rate equal to the Applicable Fee Rate on the daily unused portion of the Aggregate Commitment (the “Commitment Fee”) from the date hereof to and including the Facility Termination Date, payable on each Payment Date and on the Facility Termination Date.
2.4.2. The Borrower agrees to pay to the Administrative Agent for the account of each Lender on the Closing Date an upfront fee in the amount previously agreed to among the Borrower, the Administrative Agent and such Lender.
2.4.3. The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in integral multiples of $5,000,000, upon at least 10 Business Days’ written notice to the Administrative Agent, which notice shall specify the amount of any such reduction, provided that the amount of the Aggregate Commitment may not be reduced below Aggregate Outstanding Credit Exposure. All accrued Commitment Fees shall be payable on the effective date of any termination of the obligations of the Lenders to make Loans hereunder.
Fees Reductions in Aggregate Commitment. (a) The Borrower agrees to pay to the Agent for the account of each Lender a facility fee of 0.125% per annum on such Lender's Commitment (irrespective of usage) from the date hereof to and including the Facility Termination Date, payable on each Payment Date hereafter and on the Facility Termination Date. The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in an amount of not less than $5,000,000 upon at least three Business Days' written notice to the 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 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 Loans hereunder.
(b) The Borrower agrees to pay the Agent for the account of each Lender on the date hereof a fee of 0.05% of such Lender's Commitment.
(c) The Borrower agrees to pay the Agent for its own account such agent's fee as the Borrower and the Agent may agree from time to time.
Fees Reductions in Aggregate Commitment