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Common use of Non-Use Fee Clause in Contracts

Non-Use Fee. The Company agrees to pay to the Administrative Agent for the account of each Lender a non-use fee (except as provided in Section 2.6), for the period from the Closing Date to the Termination Date, at the Non-Use Fee Rate in effect from time to time on such Lender’s Pro Rata Share (as adjusted from time to time) of the average daily unused amount of the Revolving Commitment during each calendar month. For purposes of calculating usage under this Section, the Revolving Commitment shall be deemed used to the extent of Revolving Outstandings. Such non-use fee shall be fully earned by the Lenders on the first day of each month and payable monthly in arrears on the first Business Day of each month with respect to all activity through the last day of the prior month and on the Termination Date for any period then ending for which such non-use fee shall not have previously been paid. The non-use fee shall be computed for the actual number of days elapsed on the basis of a year of 360 days.

Appears in 1 contract

Samples: Credit Agreement (Continental Materials Corp)

Non-Use Fee. The Company agrees Borrowers hereby jointly and severally agree to pay to the Administrative Agent Agent, for the account of each Lender Facility A Lender, a non-use fee (except as provided in Section 2.6)fee, for the period from the Closing Date to the Facility A Termination Date, at the Non-Use Fee Rate in effect from time to time on of such Facility A Lender’s Pro Rata Share (as adjusted from time to time) of the daily average daily of the unused amount of the Maximum Revolving Commitment during each calendar monthCommitment. For purposes of calculating usage under this Section, the Maximum Revolving Commitment shall be deemed used to the extent of Revolving Outstandings. Such non-use fee shall be fully earned by the Lenders on the first day of each month and payable monthly in arrears on the first Business Day of each month with respect to all activity through the last day of the prior each calendar month and on the Facility A Termination Date for any period then ending for which such non-use fee shall not have previously been paid. The non-use fee shall be computed for the actual number of days elapsed on the basis of a year of 360 days.

Appears in 1 contract

Samples: Credit Agreement (Russ Berrie & Co Inc)

Non-Use Fee. The Company agrees Borrowers hereby jointly and severally agree to pay to the Administrative Agent Agent, for the account of each Lender with a Revolving Commitment, a non-use fee (except as provided in Section 2.6)fee, for the period from the Closing Date to the Termination Date, at the Non-Use Fee Rate in effect from time to time on of such Lender’s Pro Rata Share (as adjusted from time to time) of the daily average daily of the unused amount of the Maximum Revolving Commitment during each calendar monthCommitment. For purposes of calculating usage under this Section, the Maximum Revolving Commitment shall be deemed used to the extent of Revolving Outstandings. Such non-use fee shall be fully earned by the Lenders on the first day of each month and payable monthly in arrears on the first Business Day of each month with respect to all activity through the last day of each Fiscal Quarter ending after the prior month Closing Date and on the Termination Date for any period then ending for which such non-use fee shall not have previously been paid. The non-use fee shall be computed for the actual number of days elapsed on the basis of a year of 360 days.

Appears in 1 contract

Samples: Credit Agreement (Russ Berrie & Co Inc)

Non-Use Fee. The Company agrees Borrowers hereby jointly and severally agree to pay to the Administrative Agent Agent, for the account of each Lender with a Revolving Commitment, a non-use fee (except as provided in Section 2.6)fee, for the period from the Closing Date to the Termination Date, at the Non-Use Fee Rate in effect from time to time on of such Lender’s Pro Rata Share (as adjusted from time to time) of the daily average daily of the unused amount of the Maximum Revolving Commitment during each calendar monthCommitment. For purposes of calculating usage under this Section, the Maximum Revolving Commitment shall be deemed used to the extent of Revolving Outstandings. Such non-use fee shall be fully earned by the Lenders on the first day of each month and payable monthly in arrears on the first Business Day of each month with respect to all activity through the last day of the prior each calendar month and on the Termination Date for any period then ending for which such non-use fee shall not have previously been paid. The non-use fee shall be computed for the actual number of days elapsed on the basis of a year of 360 days.

Appears in 1 contract

Samples: Credit Agreement (Russ Berrie & Co Inc)

Non-Use Fee. The Company agrees to pay to the Administrative Agent for the account of each Lender a non-use fee (except as provided in Section 2.6)fee, for the period from the Closing Date to the Termination Date, at the Non-Use Fee Rate in effect from time to time on such Lender’s Pro Rata Share (as adjusted from time to time) of the average daily unused amount of the Revolving Commitment during each calendar month. For purposes of calculating usage under this Section, the Revolving Commitment shall be deemed used to the extent of Revolving Outstandings. Such non-use fee shall be fully earned by the Lenders on the first day of each month and payable monthly in arrears on the first Business Day of each month with respect to all activity through the last day of the prior month and on the Termination Date for any period then ending for which such non-use fee shall not have previously been paid. The non-use fee shall be computed for the actual number of days elapsed on the basis of a year of 360 days.

Appears in 1 contract

Samples: Credit Agreement (Continental Materials Corp)