Common use of Revolving Commitment Fees Clause in Contracts

Revolving Commitment Fees. The Borrower agrees to pay to the Agent for the account of each Revolving Bank (i) a commitment fee on the daily average unused amount of such Revolving Bank's Revolving Commitment for the period from and including the Closing Date to the Termination Date, at a rate equal to one-half of one percent (0.50%) per annum, and (ii) a facility fee equal to one and one-half percent (1.50%) per annum of the daily average amount of such Revolving Bank's Revolving Commitment. For the purpose of calculating the commitment fee hereunder, the Revolving Commitments shall be deemed utilized by all outstanding Revolving Loans and all Letter of Credit Liabilities but shall not, for purposes of this Section 2.5 only, be deemed utilized by any Swingline Loans. Accrued commitment fees and facility fees under this Section 2.5 shall be payable in arrears on each Quarterly Payment Date and on the Termination Date.