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.
Non-Utilization Fee. The Borrower shall pay to the Lender on the first Funding Date of each month a fee (the "Non-Utilization Fee") equal to 0.50% per annum on the average amount, calculated on a daily basis, by which the Revolving Commitment exceeded the outstanding amount of the Revolving Loan during the prior Month.
Non-Utilization Fee. On a quarterly basis (beginning on the date that is sixty (60) days following the Effective Date) and on the Termination Date, Buyer shall determine the average quarterly utilization during the preceding quarter (or with respect to the Termination Date, during the period from the date through which the last non-utilization fee calculation has been made to the Termination Date) by Seller by dividing (a) the sum of the Purchase Prices outstanding on each day during such period, by (b) the number of days in such period. If such average amount determined for any period as a percentage of the Maximum Aggregate Purchase Price (the “Utilization Percentage”) is less than the Utilization Threshold, Seller shall pay to Buyer the Non-Utilization Fee due for such related period on the applicable dates specified in the Pricing Side Letter; provided that Seller shall not be obligated to pay any Non-Utilization Fee to Buyer for any period with respect to which the Utilization Percentage in such period is greater than or equal to the Utilization Threshold. All payments shall be made to Buyer in Dollars, in immediately available funds, without deduction, setoff or counterclaim. Buyer may, in its sole discretion, net such Non-Utilization Fee from the proceeds of any Purchase Price paid to Seller. Each payment of the Non-Utilization Fee is and shall be deemed to be fully earned and non-refundable when paid.
Non-Utilization Fee. No later than the 5th day following the end of each calendar month, the Seller shall pay in immediately available funds to Buyer a non-refundable monthly fee for the preceding month, calculated in accordance with the formula set forth in the schedule attached hereto as Annex I. Such payment shall be made in Dollars, in immediately available funds, without deduction, set-off or counterclaim, to Buyer at such account designated by Buyer.
Non-Utilization Fee. The Seller shall pay to the Purchaser on each Settlement Date a non-utilization fee equal to the sum of the amounts calculated for each day during the Settlement Period ending immediately prior to such Settlement Date which is equal to (x) 0.375%, multiplied by (y) the amount, if any, by which the Facility Limit exceeds the Aggregate Net Investment on such day and divided by (z) 365.
Non-Utilization Fee. Seller shall pay to Purchaser the due and owing portion of the Non-Utilization Fee if and as required under Section 2 of the Pricing Side Letter; provided that Purchaser may, in its sole discretion, net any Non-Utilization Fee from the proceeds of any Purchase Price paid by Purchaser to Seller to the extent such amounts were not otherwise received by Purchaser in accordance with this clause (bb).
Non-Utilization Fee. If the Second Draw Period commences and Borrower fails to draw the full amount of the Term B Loans in accordance with the terms hereof, a fully earned and non-refundable non-utilization fee in the amount of One Hundred Thousand Dollars ($100,000.00) which shall become due and payable upon the earliest of: (i) the Maturity Date, (ii) the acceleration of any Term Loan, (iii) the prepayment of a Term Loan pursuant to Section 2.2(c) or (d), or (iv) the date that Second Draw Period ends.
4. Section 13.1 of the Loan Agreement is hereby amended by amending and restating the following definitions therein as set forth below:
Non-Utilization Fee. On a monthly basis and on the Termination Date, the Seller agrees to pay to the Buyer a non-utilization fee in an amount set forth in the Pricing Side Letter (the “Non-Utilization Fee”). All such payments shall be made to the Buyer in Dollars, in immediately available funds, without deduction, setoff or counterclaim. The Buyer may, in its sole discretion, net such Non-Utilization Fee from the proceeds of any Purchase Price paid to the Seller.
Non-Utilization Fee. So long as the Commitment Period is outstanding, each of the French Sellers shall pay monthly the Non-Utilization Fee to the Factor.
Non-Utilization Fee. The Borrowers agree to pay to the Agent, for the benefit of the Lenders based on their Pro Rata Share, in arrears, on each Payment Date, a non-refundable fee (the “Non-Utilization Fee”) for the Borrowers’ non-use of available funds in an amount equal to the product of (i) 0.50% per annum (the “Applicable Unused Line Fee Margin”) (calculated on the basis of a 360-day year for actual days elapsed in the period for which the Applicable Unused Line Fee Margin is payable, including the first day, but excluding the last day of such period) and (ii) the excess of the (x) Inventory Facility Limit over (y) the average for the period of the daily closing balances of the aggregate Advances outstanding during the Accrual Period for which such fee is due; provided, however, so long as the aggregate Advances outstanding for such period shall exceed fifty percent (50%) of the Inventory Facility Limit, no such Non-Utilization Fee shall be due and payable. Upon the receipt of such Non-Utilization Fee, the Agent shall pay to each other Lender its Pro Rata Share of such fee. The Borrowers further agree to maintain a daily minimum closing balance of the aggregate Advances of $5,000,000.00, except as provided in Section 12.3(b) and (c).
