Common use of Revolving Commitment Fees Clause in Contracts

Revolving Commitment Fees. (i) Subject to Section 2.16(a)(iii)(A), the Borrower agrees to pay to the Administrative Agent for the account of each of the Lenders with an Initial Revolving Loan Commitment, in accordance with such Lender’s respective Initial Revolving Loan Commitment Ratio, commitment fees (“Revolving Commitment Fees”) on the unused Initial Revolving Loan Commitment for each day from the Restatement Effective Date through the Initial Revolving Loan Maturity Date. The Revolving Commitment Fee shall initially be an amount equal to the product of the unused Initial Revolving Loan Commitment times a rate per annum equal to 0.375% until the Calculation Date with respect to the first full fiscal quarter ending after the Restatement Effective Date and thereafter the Revolving Commitment Fee shall be an amount equal to the product of the unused Initial Revolving Loan Commitment times a rate per annum equal to the applicable percentage set forth under the heading “Revolving Loan Commitment Fee” in the table set forth in Section 2.3(f)(i); provided, that the amount of outstanding Swingline Loans shall not be considered usage of the Initial Revolving Loan Commitment for the purposes of calculating the Revolving Commitment Fee. (ii) The Revolving Commitment Fees shall be computed on the basis of a year of 360 days for the actual number of days elapsed, shall be payable quarterly in arrears on the last Business Day of each fiscal quarter commencing March 31, 2019, and shall be fully earned when due and non-refundable when paid. A final payment of all Revolving Commitment Fees then payable shall also be due and payable on the Initial Revolving Loan Maturity Date.

Appears in 1 contract

Samples: Credit Agreement (Gray Television Inc)

AutoNDA by SimpleDocs

Revolving Commitment Fees. (i) Subject to Section 2.16(a)(iii)(A), the Borrower agrees to pay to the Administrative Agent for the account of each of the Lenders with an Initial Revolving Loan Commitment, in accordance with such LenderXxxxxx’s respective Initial Revolving Loan Commitment Ratio, commitment fees (“Revolving Commitment Fees”) on the unused Initial Revolving Loan Commitment for each day from the Restatement Effective Date through the Initial Revolving Revolving-BRevolving Loan Maturity Date. The Revolving Commitment Fee shall initially be an amount equal to the product of the unused Initial Revolving Loan Commitment times a rate per annum equal to 0.375% until the Calculation Date with respect to the first full fiscal quarter ending after the Restatement Effective Date and thereafter the Revolving Commitment Fee shall be an amount equal to the product of the unused Initial Revolving Loan Commitment times a rate per annum equal to the applicable percentage set forth under the heading “Revolving Loan Commitment Fee” in the table set forth in (A) Section 2.3(f)(i)2.3(f)(i)(A) in the case of the Revolving Commitment Fees payable to the Initial Revolving-A Lenders and (B) Section 2.3(f)(i)(B) in the case of the Revolving Commitment Fees payable to the Initial Revolving-B Lenders; provided, that in each case the amount of outstanding Swingline Loans shall not be considered usage of the Initial Revolving Loan Commitment for the purposes of calculating the Revolving Commitment Fee. (ii) The Revolving Commitment Fees shall be computed on the basis of a year of 360 days for the actual number of days elapsed, shall be payable quarterly in arrears on the last Business Day of each fiscal quarter commencing March 31, 2019, and shall be fully earned when due and non-refundable when paid. A final payment of all Revolving Commitment Fees then payable for the account of the Initial Revolving-ARevolving Lenders shall also be due and payable on the Initial Revolving-ARevolving Loan Maturity Date. A final payment of all Revolving Commitment Fees then payable for the account of the Initial Revolving-B Lenders shall also be due and payable on the Initial Revolving-B Loan Maturity Date.

Appears in 1 contract

Samples: Credit Agreement (Gray Television Inc)

Revolving Commitment Fees. (i) Subject to Section 2.16(a)(iii)(A), the Borrower agrees to pay to the Administrative Agent for the account of each of the Lenders with an Initial Revolving Loan Commitment, in accordance with such Lender’s respective Initial Revolving Loan Commitment Ratio, commitment fees (“Revolving Commitment Fees”) on the unused Initial Revolving Loan Commitment for each day from the Restatement Effective Closing Date through the Initial Revolving Loan Maturity Date. The Revolving Commitment Fee shall initially be an amount equal to the product of the unused Initial Revolving Loan Commitment times a rate per annum equal to 0.375% until the Calculation Date with respect to the first full fiscal quarter ending after the Restatement Effective Closing Date and thereafter the Revolving Commitment Fee shall be an amount equal to the product of the unused Initial Revolving Loan Commitment times a rate per annum equal to the applicable percentage set forth under the heading “Revolving Loan Commitment Fee” in the table set forth in Section 2.3(f)(i); provided, that the amount of outstanding Swingline Loans shall not be considered usage of the Initial Revolving Loan Commitment for the purposes of calculating the Revolving Commitment Fee. (ii) The Revolving Commitment Fees shall be computed on the basis of a year of 360 days for the actual number of days elapsed, shall be payable quarterly in arrears on the last Business Day of each fiscal quarter commencing March 31September 30, 20192014, and shall be fully earned when due and non-refundable when paid. A final payment of all Revolving Commitment Fees then payable shall also be due and payable on the Initial Revolving Loan Maturity Date.

Appears in 1 contract

Samples: Credit Agreement (Gray Television Inc)

Revolving Commitment Fees. (i) Subject to Section 2.16(a)(iii)(A), the Borrower agrees to pay to the Administrative Agent for the account of each of the Lenders with an Initial Revolving Loan Commitment, in accordance with such LenderXxxxxx’s respective Initial Revolving Loan Commitment Ratio, commitment fees (“Revolving Commitment Fees”) on the unused Initial Revolving Loan Commitment for each day from the Restatement Effective Date through the Initial Revolving Revolving-2Revolving-B Loan Maturity Date. The Revolving Commitment Fee shall initially be an amount equal to the product of the unused Initial Revolving Loan Commitment times a rate per annum equal to 0.375% until the Calculation Date with respect to the first full fiscal quarter ending after the Restatement Effective Date and thereafter the Revolving Commitment Fee shall be an amount equal to the product of the unused Initial Revolving Loan Commitment times a rate per annum equal to the applicable percentage set forth under the heading “Revolving Loan Commitment Fee” in the table set forth in (A) Section 2.3(f)(i)) in the case of the Revolving Commitment Fees payable to the Initial Revolving-1 Lenders and (B) Section 2.3(f)(ii(A) in the case of the Revolving Commitment Fees payable to the Initial Revolving-A Lenders and (B) Section 2.3(f)(i)(B) in the case of the Revolving-2 Commitment Fees payable to the Initial Revolving-B Lenders; provided, that in each case the amount of outstanding Swingline Loans shall not be considered usage of the Initial Revolving Loan Commitment for the purposes of calculating the Revolving Commitment Fee. (ii) The Revolving Commitment Fees shall be computed on the basis of a year of 360 days for the actual number of days elapsed, shall be payable quarterly in arrears on the last Business Day of each fiscal quarter commencing March 31, 2019, and shall be fully earned when due and non-refundable when paid. A final payment of all Revolving Commitment Fees then payable for the account of the Initial Revolving-1Revolving-A Lenders shall also be due and payable on the Initial Revolving-1Revolving-A Loan Maturity Date. A final payment of all Revolving Commitment Fees then payable for the account of the Initial Revolving-2Revolving-B Lenders shall also be due and payable on the Initial Revolving-2Revolving-B Loan Maturity Date.

Appears in 1 contract

Samples: Credit Agreement (Gray Television Inc)

Revolving Commitment Fees. (i) Subject to Section 2.16(a)(iii)(A), the Borrower agrees to pay to the Administrative Agent for the account of each of the Lenders with an Initial Revolving Loan Commitment, in accordance with such LenderXxxxxx’s respective Initial Revolving Loan Commitment Ratio, commitment fees (“Revolving Commitment Fees”) on the unused Initial Revolving Loan Commitment for each day from the Restatement Effective Date through the Initial Revolving Loan Maturity Date. The Revolving Commitment Fee shall initially be an amount equal to the product of the unused Initial Revolving Loan Commitment times a rate per annum equal to 0.375% until the Calculation Date with respect to the first full fiscal quarter ending after the Restatement Effective Date and thereafter the Revolving Commitment Fee shall be an amount equal to the product of the unused Initial Revolving Loan Commitment times a rate per annum equal to the applicable percentage set forth under the heading “Revolving Loan Commitment Fee” in the table set forth in (A) Section 2.3(f)(i)) in the case of the Revolving Commitment Fees payable to the Initial Revolving-1 Lenders and (B) Section 2.3(f)(ii) in the case of the Revolving Commitment Fees payable to the Initial Revolving-2 Lenders; provided, that in each case the amount of outstanding Swingline Loans shall not be considered usage of the Initial Revolving Loan Commitment for the purposes of calculating the Revolving Commitment Fee. (ii) The Revolving Commitment Fees shall be computed on the basis of a year of 360 days for the actual number of days elapsed, shall be payable quarterly in arrears on the last Business Day of each fiscal quarter commencing March 31, 2019, and shall be fully earned when due and non-refundable when paid. A final payment of all Revolving Commitment Fees then payable for the account of the Initial Revolving-1 Lenders shall also be due and payable on the Initial Revolving-1 Loan Maturity Date. A final payment of all Revolving Commitment Fees then payable for the account of the Initial Revolving-2 Lenders shall also be due and payable on the Initial Revolving-2 Loan Maturity Date.

Appears in 1 contract

Samples: Credit Agreement (Gray Television Inc)

AutoNDA by SimpleDocs

Revolving Commitment Fees. (i) Subject to Section 2.16(a)(iii)(A), the Borrower agrees to pay to the Administrative Agent for the account of each of the Lenders with an Initial Revolving Loan Commitment, in accordance with such LenderXxxxxx’s respective Initial Revolving Loan Commitment Ratio, commitment fees (“Revolving Commitment Fees”) on the unused Initial Revolving Loan Commitment for each day from the Restatement Effective Date through the Initial Revolving Revolving-2 Loan Maturity Date. The Revolving Commitment Fee shall initially be an amount equal to the product of the unused Initial Revolving Loan Commitment times a rate per annum equal to 0.375% until the Calculation Date with respect to the first full fiscal quarter ending after the Restatement Effective Date and thereafter the Revolving Commitment Fee shall be an amount equal to the product of the unused Initial Revolving Loan Commitment times a rate per annum equal to the applicable percentage set forth under the heading “Revolving Loan Commitment Fee” in the table set forth in (A) Section 2.3(f)(i)) in the case of the Revolving Commitment Fees payable to the Initial Revolving-1 Lenders and (B) Section 2.3(f)(ii) in the case of the Revolving Commitment Fees payable to the Initial Revolving-2 Lenders; provided, that in each case the amount of outstanding Swingline Loans shall not be considered usage of the Initial Revolving Loan Commitment for the purposes of calculating the Revolving Commitment Fee. (ii) The Revolving Commitment Fees shall be computed on the basis of a year of 360 days for the actual number of days elapsed, shall be payable quarterly in arrears on the last Business Day of each fiscal quarter commencing March 31, 2019, and shall be fully earned when due and non-refundable when paid. A final payment of all Revolving Commitment Fees then payable for the account of the Initial Revolving-1 Lenders shall also be due and payable on the Initial Revolving-1 Loan Maturity Date. A final payment of all Revolving Commitment Fees then payable for the account of the Initial Revolving-2 Lenders shall also be due and payable on the Initial Revolving-2 Loan Maturity Date.

Appears in 1 contract

Samples: Credit Agreement (Gray Television Inc)

Revolving Commitment Fees. (i) Subject to Section 2.16(a)(iii)(A), the The Borrower agrees to shall pay to the Administrative Agent Agent, for the pro rata account of each Revolving Lender, revolving commitment fees equal to 0.50% (i.e., fifty basis points) of the Lenders with an Initial actual daily amount by which the Aggregate Revolving Loan Commitment, in accordance with such Lender’s respective Initial Commitment exceeds the Outstanding Amount of Revolving Loan Commitment Ratio, commitment fees Loans (“Revolving Commitment Fees”) on the unused Initial Revolving Loan Commitment for each day from the Restatement Effective Date through the Initial Revolving Loan Maturity Date. The ); provided, however, that any Revolving Commitment Fee shall initially be an amount equal to the product of the unused Initial Revolving Loan Commitment times a rate per annum equal to 0.375% until the Calculation Date Fees accrued with respect to the first full fiscal quarter ending after the Restatement Effective Date and thereafter the Revolving Commitment Fee shall be an amount equal of any Defaulting Lender prior to the product of the unused Initial Revolving Loan Commitment times time such Lender became a rate per annum equal to the applicable percentage set forth under the heading “Revolving Loan Commitment Fee” in the table set forth in Section 2.3(f)(i); provided, that the amount of outstanding Swingline Loans Defaulting Lender and remaining unpaid at such time shall not be considered usage of payable by the Initial Revolving Loan Commitment for the purposes of calculating the Revolving Commitment Fee. (ii) The Borrower until such Lender shall cease to be a Defaulting Lender; and, provided, further, that no Revolving Commitment Fees shall be computed accrue on the basis Revolving Commitment of any Defaulting Lender so long as such Lender shall continue to be a year Defaulting Lender. Subject always to the provisos in the preceding sentence, the Revolving Commitment Fees shall accrue at all times during the Availability Period, including at any time during which any one or more of 360 days for the actual number of days elapsedconditions in Article 4 is not met, and shall be due and payable quarterly in arrears on the last Business Day day of each fiscal quarter March, June, September and December in each year, commencing March 31, 2019with the first such date to occur after the Closing Date, and shall be fully earned when due and non-refundable when paidon the Revolving Credit Maturity Date. A final payment of all The Revolving Commitment Fees then payable shall also be due and payable on the Initial Revolving Loan Maturity Datecalculated quarterly in arrears.

Appears in 1 contract

Samples: Credit Agreement (Nextera Enterprises Inc)

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