Non-Utilization Fees Sample Clauses
A Non-Utilization Fees clause requires a borrower to pay a fee on the unused portion of a committed credit facility. In practice, if a lender makes a certain amount of funds available but the borrower does not draw down the full amount, the borrower must pay a percentage fee on the undrawn balance. This clause incentivizes borrowers to accurately estimate their funding needs and compensates lenders for setting aside capital that could otherwise be deployed elsewhere.
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Non-Utilization Fees. The Co-Borrowers shall pay to the Agent for the account of each Revolving Bank in accordance with its Revolving Percentage, a non-utilization fee equal to 0.50% per annum times the actual daily amount by which (a) the aggregate Revolving Commitments exceed (b) the sum of (i) the aggregate outstanding principal amount of Revolving Loans at such date after giving effect to any Borrowings and prepayments or repayments thereof occurring on such date, and (ii) the aggregate amount of all outstanding L/C Obligations on such date (whether or not the Revolving Banks are participating therein) after giving effect to any Letter of Credit Issuance occurring on such date and any other changes in the aggregate amount of the L/C Obligations as of such date, including as a result of any reimbursements of outstanding unpaid drawings under any Letters of Credit or any reductions in the maximum amount available for drawing under Letters of Credit taking effect on such date; provided that for any day that a Bank is a Defaulting Bank hereunder, its Revolving Commitments shall be deemed to be, solely for purposes of this Section 2.11, zero. The non-utilization fees shall accrue at all times during the Revolving Availability Period, including at any time during which one or more of the conditions in Article V are not met, and shall be due and payable quarterly in arrears within fifteen (15) days of 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 Revolving Maturity Date. The non-utilization fees shall be calculated quarterly in arrears.
Non-Utilization Fees. The Borrower agrees to pay to Lenders non-utilization fees (the “Non-Utilization Fees”) on the Daily Non-Utilization Fee Calculation Amount as in effect from time to time at a rate per annum equal to 1.00%. Non-Utilization Fees shall be calculated on the basis of a 360-day year and the actual number of days elapsed and shall be payable in arrears pursuant to the Priority of Payments or as otherwise expressly stated herein. As used herein, “
Non-Utilization Fees. The Co-Borrowers shall pay to the Agent for the account of each Bank in accordance with its Pro Rata Share, a non-utilization fee equal to 0.50% per annum times the average daily amount of the Unused Commitment of such Bank. The non-utilization fees shall accrue at all times during the Availability Period, including at any time during which one or more of the conditions in Article 5 are not met, and shall be due and payable quarterly in arrears within five (5) Business Days of 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 Expiration Date. The non-utilization fees shall be calculated quarterly in arrears.
Non-Utilization Fees. (a) The Co-Borrowers shall pay to the Agent for the account of each Working Capital Bank in accordance with its Pro Rata Share, a non-utilization fee equal to (a) if the average daily Aggregate Amount during the most recently ended fiscal quarter was less than fifty percent (50%) of the average daily aggregate Working Capital Commitments of the Banks in effect during such fiscal quarter, 0.50% per annum and (b) if the average daily Aggregate Amount during the most recently ended fiscal quarter was greater than or equal to fifty percent (50%) of the average daily aggregate Working Capital Commitments of the Banks in effect during such fiscal quarter, 0.375% per annum times the actual daily amount by which the aggregate Working Capital Commitments exceed the Aggregate Amount; provided that for any day that a Bank is a Defaulting Bank hereunder, its Working Capital Commitments shall be deemed to be, solely for purposes of this Section 2.11(a), zero. The non-utilization fees shall accrue at all times during the Working Capital Availability Period, including at any time during which one or more of the conditions in Article V are not met, and shall be due and payable quarterly in arrears within fifteen (15) days of 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 Expiration Date. The non-utilization fees shall be calculated quarterly in arrears.
(b) The Co-Borrowers shall pay to the Agent for the account of each Revolving Bank in accordance with its Revolving Percentage, a non-utilization fee equal to 0.50% per annum times the actual daily amount by which the aggregate Revolving Commitments exceed the Effective Amount of Revolving Loans; provided that for any day that a Bank is a Defaulting Bank hereunder, its Revolving Commitments shall be deemed to be, solely for purposes of this Section 2.11(b), zero. The non-utilization fees shall accrue at all times during the Revolving Availability Period, including at any time during which one or more of the conditions in Article V are not met, and shall be due and payable quarterly in arrears within fifteen (15) days of 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 Expiration Date. The non-utilization fees shall be calculated quarterly in arrears.
Non-Utilization Fees. The Borrower agrees to pay to Lenders non-utilization fees (the “Non-Utilization Fees”) on the Daily Non-Utilization Fee Calculation Amount as in effect from time to time at a rate per annum equal to 0.50%. Non-Utilization Fees shall be calculated on the basis of a 360- day year and the actual number of days elapsed and shall be payable in arrears pursuant to the Priority of Payments or as otherwise expressly stated herein. As used herein, “Daily Non-Utilization Fee Calculation Amount” means, for each day, an amount equal to the excess (if any) of (x) the Adjusted Maximum Facility Amount in effect on such day over (y) the greater of the Minimum Utilization Amount and the Loan Amount on such day.
Non-Utilization Fees. A Non-Utilization Fee (the "Non- Utilization Fee") shall accrue on the daily average Unused Commitment for the period from and including the Closing Date to the Maturity Date at a rate per annum equal to 0.375% calculated on the basis of a 365 or 366 day year, as the case may be, for the actual number of days elapsed. The accrued Non-Utilization Fee shall be due and payable monthly in arrears commencing on November 30, 1997 and on the last day of each succeeding month and immediately upon any termination of the Commitment by written notice by any Borrower to the Bank.
Non-Utilization Fees. The Borrower agrees to pay to Lenders non-utilization fees (the “Non-Utilization Fees”) on the Daily Non-Utilization Fee Calculation Amount as in effect from time to time at a rate per annum equal to (x) if such date is on or after April 1, 2025 but on or prior to June 30, 2025, the Non-Utilization Fee Spread and (y) otherwise, 0.50%. Non-Utilization Fees shall be calculated on the basis of a 360-day year and the actual number of days elapsed and shall be payable in arrears pursuant to the Priority of Payments or as otherwise expressly stated herein. As used herein, “Daily Non-Utilization Fee Calculation Amount” means, for each day, an amount equal to the excess (if any) of (x) the Adjusted Maximum Facility Amount in effect on such day over (y) the greater of the Minimum Utilization Amount and the Loan Amount on such day. As used herein, “Non-Utilization Fee Spread” means, (1) if the Utilization Percentage is lower than 65.0%, 0.80%, and (2) if the Utilization Percentage is 65.0% or higher, 0.50%. As used herein, “Utilization Percentage” means, on any date, a percentage equal to (x) the Loan Amount divided by (y) the Commitments for such date.
Non-Utilization Fees. In the event the Company fails to meet the Drilling Commitment or the Stage Commitment at any time during the term of this Agreement, the Company and Contractor agree that the Company shall pay the following non-utilization fees to Contractor.
Non-Utilization Fees. The Co-Borrowers shall pay to the Agent for the account of each Bank in accordance with its Pro Rata Share, a non-utilization fee equal to 0.50% per annum times the actual daily amount by which the aggregate Commitments exceed the Outstanding Amount; provided that for any day that a Bank is a Defaulting Bank hereunder, its Commitments shall be deemed to be, solely for purposes of this Section 2.11, zero. The non-utilization fees shall accrue at all times during the Availability Period, including at any time during which one or more of the conditions in Article V are not met, and shall be due and payable quarterly in arrears within fifteen (15) days of 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 Expiration Date. The non-utilization fees shall be calculated quarterly in arrears.
Non-Utilization Fees. (i) If the Second Draw Period commences but terminates prior to the Term B Loans being made hereunder and Borrower has not made a borrowing request for such Term B Loans during the Second Draw Period, a fully earned and non-refundable fee equal to One Hundred Thousand Dollars ($100,000.00) on the termination date of the Second Draw Period and (ii) if the Third Draw Period commences but terminates prior to the Term C Loans being made hereunder and Borrower has not made a borrowing request for such Term C Loans during the Third Draw Period, a fully earned and non-refundable fee equal to One Hundred Thousand Dollars ($100,000.00) on the termination date of the Third Draw Period. For the avoidance of doubt, in the event that (x) the First Revenue Event does not occur, the fees set forth in this Section 2.5(d)(i) shall not be due and payable, and (y) the Second Revenue Event does not occur, the fees set forth in this Section 2.5(d)(ii) shall not be due and payable.