Minimum Utilization Fee Sample Clauses
A Minimum Utilization Fee clause requires a party, typically a customer or lessee, to pay a specified minimum amount regardless of actual usage of a service, facility, or equipment. For example, even if the customer uses less than the agreed-upon volume or time, they are still obligated to pay for the minimum threshold set in the contract. This clause ensures the provider receives a guaranteed level of revenue and protects against underutilization that could otherwise result in financial loss.
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Minimum Utilization Fee. If at any time, the Debt Balance of the Loan is less than the product of (1) the minimum utilization rate for the applicable period set forth in the table below multiplied by (2) the Maximum Facility Amount, then a minimum utilization fee (the “Minimum Utilization Fee”) shall accrue on the amount of such shortfall at the Applicable Interest Rate. The Minimum Utilization Fee shall be calculated on a monthly basis based on the average daily shortfall during the preceding month and shall be payable by the Borrower in accordance with Section 3.1. 0-3 months [PERCENTAGE REDACTED] 4-5 months [PERCENTAGE REDACTED] 9-11 months [PERCENTAGE REDACTED]
Minimum Utilization Fee. If the average daily Outstanding Amount during any calendar month is less than the Minimum Utilization Amount, Borrower shall pay to Lender the Minimum Utilization Fee equal to the Facility Rate multiplied by the amount by which the Minimum Utilization Amount exceeds such average daily Outstanding Amount. Such fee shall be charged to the Borrower’s account on the last day of each month.
Minimum Utilization Fee. Borrower agrees to pay Administrative Agent for the account of each Lender Ratably a minimum utilization fee (the “Minimum Utilization Fee”) in an amount equal to the difference, if positive, between the Minimum Utilization Amount and the average daily Total Loan Amount during the previous calendar month, multiplied by 1.60% (160 basis points) per annum, calculated on the basis of actual days elapsed and a year of 360 days, which shall be payable monthly in arrears on the first Business Day of each month (commencing on the earlier of (i) the first Business Day of the first full calendar month immediately following the Initial Funding Date or (ii) April 1, 2010) and on the Maturity Date.
Minimum Utilization Fee. On each Minimum Utilization Fee Payment Date during the Availability Period, the Borrower agrees to pay to the Administrative Agent, for the ratable benefit of the Lenders and as consideration for each Lender’s Commitment hereunder, the Minimum Utilization Fee. Accrued Minimum Utilization Fees shall be due and payable in arrears on each Minimum Utilization Fee Payment Date and, if earlier, the last day of the Availability Period. Computations of the Minimum Utilization Fee shall be made by the Administrative Agent.
Minimum Utilization Fee. To the extent that the average daily outstanding principal balance of Advances for any calendar quarter is less than Two Million Dollars ($2,000,000), the accrued and unpaid Minimum Utilization Fee shall be due and payable within 10 calendar days after the last day of such calendar quarter.
Minimum Utilization Fee. On each Reconciliation Date, Borrower shall pay to Lender the Minimum Utilization Fee for the Reconciliation Period ending on such Reconciliation Date.
Minimum Utilization Fee. If the Total Outstandings are less than the Minimum Funding Amount on any date during the Availability Period, then the Borrower agrees to pay or cause to be paid to the Administrative Agent, for the account of each Lender, an undrawn fee (the “Undrawn Fee”) which shall accrue on each day during the Availability Period at a per annum rate equal to the Applicable Margin on the actual daily Undrawn Amount. Accrued Undrawn Fees shall be payable in arrears on each Interest Payment Date, commencing with the first such payment date to occur after the Closing Date and on the last day of the Availability Period. The Undrawn Fee shall be calculated quarterly in arrears.
Minimum Utilization Fee. To the extent that the average daily aggregate unpaid principal amount of any Bank's Loans for any period from the Agreement Date, effective date of such Bank's Commitment or any increase therein or any Rent Payment Date to the next succeeding Rent Payment Date or date of termination or reduction of such Bank's Commitment ("Average Unpaid Loans") is less than an amount equal to one-half of such Bank's average daily Commitment for such period ("Minimum Utilization Amount"), the Borrower shall pay to the Agent for the account of such Bank a minimum utilization fee at a rate per annum of 1.25% on an amount equal to the difference between the Minimum Utilization Amount and the Average Unpaid Loans for such Bank for such period, payable on successive Rent Payment Dates, on the Maturity Date and on the date of any termination of such Bank's Commitment; provided that in calculating any period for purposes of this Section 2.08(b) the Clean-Up Period, each Rent Payment Date and the Maturity Date shall be excluded. The minimum utilization fee referred to in this Section 2.08(b) shall be in addition to the commitment fee referred to in Section 2.08(a).
Minimum Utilization Fee. On each Minimum Utilization Fee Payment Date during the Availability Period, the Borrower agrees to pay to the Administrative Agent, for the ratable benefit of the Lenders, the Minimum Utilization Fee; provided that (a) the Minimum Utilization Fee shall cease to accrue on the last day of the Availability Period and (b) no Minimum Utilization Fee shall be required to be paid with respect to any portion of the Aggregate Facility Limit is that unavailable to be drawn by the Borrower as a result of the Lenders’ election not to fund Advances requested by the Borrower when all conditions set forth in Article III have otherwise been met. Accrued Minimum Utilization Fees shall be due and payable in arrears on each Minimum Utilization Fee Payment Date, and on the last day of the Availability Period. Computations of the Minimum Utilization Fee shall be made by the Administrative Agent, with respect to each Lender, pro rata based on such Lender’s Applicable Percentage.