Minimum Utilization Fee Sample Clauses

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.
Sample 1Sample 2See All (5)
AutoNDA by SimpleDocs
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.
Sample 1
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.
Sample 1
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.
Sample 1
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.
Sample 1
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]
Sample 1
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.
Sample 1
AutoNDA by SimpleDocs
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).
Sample 1

Related to Minimum Utilization Fee

  • Non-Utilization Fee The Borrower agrees to pay to the Bank a non-utilization fee equal to one-quarter of one percent (0.25%) of the total of (a) the Revolving Loan Commitment, minus (b) the sum of (i) the daily average of the aggregate principal amount of all Revolving Loans outstanding, plus (ii) the daily average of the aggregate amount of the Letter of Credit Obligations, which non- utilization fee shall be (A) calculated on the basis of a year consisting of 360 days, (B) paid for the actual number of days elapsed, and (C) payable monthly in arrears on the last day of each month, commencing on September 30, 2006, and on the Revolving Loan Maturity Date.

  • Utilization Fee If the aggregate outstanding amount of (i) all Revolving Credit Advances hereunder and (ii) all "Revolving Credit Advances" under (and as defined in) the Three-Year Agreement exceeds thirty-three percent (33%) of the aggregate amount of (x) all Commitments hereunder and (y) all "Commitments" under (and as defined in) the Three-Year Agreement then in effect on such date (or, if any of the Commitments or "Commitments" have been terminated, the aggregate amount of all Commitments and "Commitments" in effect immediately prior to such termination), the Borrower will pay to the Agent for the ratable benefit of the Lenders a utilization fee (the "Utilization Fee") at a per annum rate equal to the Applicable Utilization Fee Rate in effect from time to time payable on the aggregate outstanding amount of all Revolving Credit Advances on such date, payable in arrears quarterly on the last day of each March, June, September and December, and on the Revolver Termination Date.

  • Utilization Fees For any day on which the aggregate amount of Loans then outstanding exceeds fifty percent (50%) of the Commitments then in effect, or if any Loans remain outstanding after the Commitments have been terminated, then Borrower shall pay to the Administrative Agent for the ratable account of the Lenders in accordance with their Percentages a utilization fee accruing at a rate per annum equal to the Utilization Fee Rate on the aggregate amount of Loans outstanding on such date. Such utilization fee is payable in arrears on the last Business Day of each calendar quarter and on the Termination Date, and if the Commitments are terminated in whole prior to the Termination Date, the fee for the period to but not including the date of such termination shall be paid in whole on the date of such termination.

  • Facility Fee The Company shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage, a facility fee, in Dollars, equal to the Applicable Rate for facility fees times the actual daily amount of the Aggregate Commitments (or, if the Aggregate Commitments have terminated, on the Outstanding Amount of all Committed Loans, Swing Line Loans and L/C Obligations), regardless of usage, subject to adjustment as provided in Section 2.18. The facility fee shall accrue at all times during the Availability Period (and thereafter so long as any Committed Loans, Swing Line Loans or L/C Obligations remain outstanding), including at any time during which one or more of the conditions in Article IV are not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the last day of the Availability Period (and, if applicable, thereafter on demand). The facility fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate for facility fees during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate for facility fees separately for each period during such quarter that such Applicable Rate for facility fees was in effect.

  • Minimum Current Ratio The Borrower will not, as of the last day of any Fiscal Quarter (commencing with the Fiscal Quarter ending June 30, 2018), permit the Current Ratio to be less than 1.00 to 1.00.

  • Processing Fee At the time each Advance is made, Borrower shall pay to Lender the Processing Fee with respect to such Advance.

  • Minimum Excess Availability Borrower shall have Excess Availability under the Revolving Credit Loans facility of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder and after giving effect to any applicable Loan Reserves against borrowing availability under the Revolving Credit Loans.

  • Minimum Revenue Borrower and its Subsidiaries shall have Revenue from sales, marketing or distribution of the Product and related services (for each respective measured period, the “Minimum Required Revenue”): (a) during the twenty-four month period beginning on January 1, 2015, of at least $45,000,000; (b) during the twenty-four month period beginning on January 1, 2016, of at least $80,000,000; (c) during the twenty-four month period beginning on January 1, 2017, of at least $110,000,000; and (d) during the twenty-four month period beginning on January 1, 2018, of at least $120,000,000; and (e) during the twenty-four month period beginning on January 1, 2019, of at least $120,000,000.

  • Commitment Fee The Borrowers agree to pay to the Administrative Agent for the account of any Revolving Credit Lender under each Class of Revolving Credit Commitments in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee equal to the product of the Applicable Rate with respect to unused Revolving Credit Commitment fees for such Class and the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Class of Revolving Credit Commitments exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Class of Revolving Credit Commitments and (B) the Outstanding Amount of L/C Obligations for such Class of Revolving Credit Commitments; provided that any commitment fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no commitment fee shall accrue on any of the Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Class of Revolving Credit Commitments (unless otherwise specified in the relevant Additional Facility Joinder Agreement, Extension Amendment or Refinancing Amendment) shall accrue at all times starting from the first day of the Revolving Credit Availability Period for such Class until the earlier of (x) the last day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments, and (y) the date of the termination of the Revolving Credit Commitments of such Class, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable (i) quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the first day of the Revolving Credit Availability Period for such Class of Revolving Credit Commitments and (ii) on the earlier of (x) the Maturity Date for such Class of Revolving Credit Commitments and (y) the date of the termination of the Revolving Credit Commitments of such Class. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

  • Services Fee 5.1 The Transmission Services performed by TSO to Network User under this Standard Transmission Agreement are subject to the applicable Services fee calculated in accordance with attachment A of the Access Code for Transmission. In the event of any modification to the Regulated Tariffs, the Total Monthly Fee(s) and the Total Monthly Self-billing Fee(s) provided for in this Article 5.1 shall be adapted as from the calendar day of the entering into force of the modifications.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!