Non-Use Fees. The Borrower shall pay to the Administrative Agent for the account of each Lender a non-use fee on the actual daily unused portion of such Lender’s Commitment, computed on a quarterly basis in arrears on the last Business Day of each calendar quarter based upon the daily utilization for that quarter as calculated by the Administrative Agent, equal to (i) 0.15% per annum on an amount equal to (x) the Total Commitments minus (y) the Tranche A LC Obligations minus (z) the Tranche B Commitment and (ii) 0.30% per annum on an amount equal to (x) the lesser of (A) the Tranche B Commitment and (B) (the Total Commitments minus the Tranche A LC Obligations) minus (y) the Tranche B LC Obligations. Such non-use fee shall accrue from the Amendment Effective Date to the Commitment Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December commencing on September 30, 2002 through the Commitment Termination Date, with the final payment to be made on the Commitment Termination Date. The non-use fees provided in this Section shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article VIII are not met.
Appears in 1 contract
Samples: Letter of Credit Reimbursement Agreement (Max Re Capital LTD)
Non-Use Fees. The Borrower Company shall pay to the Co-Administrative Agent for the account of each Lender a non-use fee on the actual average daily unused portion of such Lender’s Commitment, computed on a quarterly basis in arrears on the last Business Day of each calendar quarter based upon the daily utilization for that quarter as calculated by the Co-Administrative Agent, equal to (i) 0.15% per annum on an amount equal the Applicable Non-Use Fee Percentage. For purposes of calculating utilization under this subsection, the Commitments shall be deemed used to (x) the Total Commitments minus (y) extent of the Tranche A LC Effective Amount of Revolving Loans then outstanding, plus the Effective Amount of L/C Obligations minus (z) the Tranche B Commitment then outstanding and (ii) 0.30% per annum on an amount equal to (x) the lesser shall not be deemed used by a Lender’s Pro Rata Share of (A) the Tranche B Commitment and (B) (the Total Commitments minus the Tranche A LC Obligations) minus (y) the Tranche B LC ObligationsSwing Line Loans. Such non-use fee shall accrue from the Amendment Effective Restatement Date to the Commitment Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December calendar quarter commencing on September June 30, 2002 2005 through the Commitment Termination Date, with the final payment to be made on the Commitment Termination Date; provided that, in connection with any reduction or termination of Commitments under Section 2.07 or an increase of Commitments under Section 2.17, the accrued non-use fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The non-use fees provided in this Section subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article VIII V are not met.
Appears in 1 contract
Samples: Credit Agreement (Regis Corp)
Non-Use Fees. The Borrower shall pay to the Administrative Agent for the account of each Lender a non-use fee on the actual daily unused portion of such Lender’s Commitment, computed on a quarterly basis in arrears on the last Business Day of each calendar quarter based upon the daily utilization for that quarter as calculated by the Administrative Agent, equal to (i) 0.150.10% per annum on an amount equal to (x) the Total Commitments minus (y) the Tranche A LC Obligations minus (z) the Tranche B Commitment and (ii) 0.300.20% per annum on an amount equal to (x) the lesser of (A) the Tranche B Commitment and (B) (the Total Commitments minus the Tranche A LC Obligations) minus (y) the Tranche B LC Obligations. Such non-use fee shall accrue from the Amendment Effective Date to the Commitment Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December commencing on September June 30, 2002 2004 through the Commitment Termination Date, with the final payment to be made on the Commitment Termination Date. The non-use fees provided in this Section shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article VIII are not met. On the Amendment Effective Date, the Borrower shall pay to the Administrative Agent for the account of the Lenders all non-use fees accrued under the Existing Credit Agreement through the Amendment Effective Date.
Appears in 1 contract
Samples: Letter of Credit Reimbursement Agreement (Max Re Capital LTD)
Non-Use Fees. The Borrower Company shall pay to the Co-Administrative Agent for the account of each Lender a non-use fee on the actual average daily unused portion of such Lender’s Commitment, computed on a quarterly basis in arrears on the last Business Day of each calendar quarter based upon the daily utilization for that quarter as calculated by the - 33 - Co-Administrative Agent, equal to (i) 0.15% per annum on an amount equal the Applicable Non-Use Fee Percentage. For purposes of calculating utilization under this subsection, the Commitments shall be deemed used to (x) the Total Commitments minus (y) extent of the Tranche A LC Effective Amount of Revolving Loans then outstanding, plus the Effective Amount of L/C Obligations minus (z) the Tranche B Commitment then outstanding and (ii) 0.30% per annum on an amount equal to (x) the lesser shall not be deemed used by a Lender’s Pro Rata Share of (A) the Tranche B Commitment and (B) (the Total Commitments minus the Tranche A LC Obligations) minus (y) the Tranche B LC ObligationsSwing Line Loans. Such non-use fee shall accrue from the Amendment Effective Restatement Date to the Commitment Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December calendar quarter commencing on September June 30, 2002 2005 through the Commitment Termination Date, with the final payment to be made on the Commitment Termination Date; provided that, in connection with any reduction or termination of Commitments under Section 2.07 or an increase of Commitments under Section 2.17, the accrued non-use fee calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date. The non-use fees provided in this Section subsection shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article VIII V are not met.
Appears in 1 contract
Samples: Credit Agreement
Non-Use Fees. The Borrower shall pay to the Administrative Agent for the account of each Lender a non-use fee on the actual daily unused portion of such Lender’s Commitment, computed on a quarterly basis in arrears on the last Business Day of each calendar quarter based upon the daily utilization for that quarter as calculated by the Administrative Agent, equal to (i) 0.150.125% per annum on an amount equal to (x) the Total Commitments minus (y) the Tranche A LC Obligations minus (z) the Tranche B Commitment and (ii) 0.300.225% per annum on an amount equal to (x) the lesser of (A) the Tranche B Commitment and (B) (the Total Commitments minus the Tranche A LC Obligations) minus (y) the Tranche B LC Obligations. Such non-use fee shall accrue from the Amendment Effective Date to the Commitment Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December commencing on September June 30, 2002 2003 through the Commitment Termination Date, with the final payment to be made on the Commitment Termination Date. The non-use fees provided in this Section shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article VIII are not met. On the Amendment Effective Date, the Borrower shall pay to the Administrative Agent for the account of the Original Lenders all non-use fees accrued under the Existing Credit Agreement through the Amendment Effective Date.
Appears in 1 contract
Samples: Letter of Credit Reimbursement Agreement (Max Re Capital LTD)
Non-Use Fees. The Borrower Company shall pay to the Administrative Agent for the ------------ account of each Lender a non-use fee of .5% on the actual average daily unused portion of such Lender’s Commitment's Percentage of the Commitment Amount, computed on a quarterly basis in arrears on the last Business Day of each calendar quarter based upon the daily utilization for that quarter as calculated by the Administrative Agent. For purposes of calculating utilization under this subsection, equal the Commitment Amount shall be deemed used to (i) 0.15% per annum on an the extent of the principal amount equal to (x) the Total Commitments minus (y) the Tranche A LC Obligations minus (z) the Tranche B Commitment and (ii) 0.30% per annum on an amount equal to (x) the lesser of (A) the Tranche B Commitment and (B) (the Total Commitments minus the Tranche A LC Obligations) minus (y) the Tranche B LC Obligationsall Loans then outstanding. Such non-use fee shall accrue from the Amendment Effective Date to the Commitment Termination Date and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December calendar quarter commencing on September June 30, 2002 2001 through the Commitment Termination Date, with the final payment to be made on the Commitment Termination Date; provided that, in connection with any reduction or -------- termination of the Commitments under Section 2.2, the accrued non-use fee ----------- calculated for the period ending on such date shall also be paid on the date of such reduction or termination with (in the case of a reduction) the following quarterly payment being calculated on the basis of the period from such reduction date to the quarterly payment date. The non-use fees provided in this Section shall accrue at all times after the above-mentioned commencement date, including at any time during which one or more conditions in Article VIII V are not met.. ---------
Appears in 1 contract
Samples: Credit Agreement (Aristotle Corp)