Common use of Revolving Credit Commitment Fee Clause in Contracts

Revolving Credit Commitment Fee. From the Effective Date to the Revolving Credit Maturity Date, the Company shall pay to the Agent for distribution to the Banks pro-rata in accordance with their respective Percentages, a Revolving Credit Commitment Fee quarterly in arrears commencing July 1, 2006 (in respect of the prior calendar quarter or portion thereof), and on the first day of each calendar quarter thereafter. The Revolving Credit Commitment Fee payable to each Bank shall be determined by multiplying three sixteenths of one percent (3/16%) times the average daily amount of the unused Revolving Credit Aggregate Commitment then in effect (in determining the unused portion of the Revolving Credit Aggregate Commitment, Letters of Credit shall be considered usage of the Revolving Credit and Swing Line Advances shall not be considered usage of the Revolving Credit). The Revolving Credit Commitment Fee shall be computed on the basis of a year of three hundred sixty (360) days and assessed for the actual number of days elapsed. Whenever any payment of the Revolving Credit Commitment Fee shall be due on a day which is not a Business Day, the date for payment thereof shall be extended to the next Business Day. Upon receipt of such payment, Agent shall make prompt payment to each Bank of its share of the Revolving Credit Commitment Fee based upon its respective Percentage. It is expressly understood that the Revolving Credit Commitment Fees described in this Section are not refundable under any circumstances.

Appears in 1 contract

Samples: Credit Agreement (Quantum Fuel Systems Technologies Worldwide Inc)

AutoNDA by SimpleDocs

Revolving Credit Commitment Fee. From the Effective Date to the ------------------------------- Revolving Credit Maturity Date, the Company shall pay to the Agent for distribution to the Banks pro-rata in accordance with their respective Percentages, on behalf of Lenders a Revolving Credit Commitment Fee quarterly in arrears commencing July 1September 30, 2006 2001 (in respect of the prior calendar fiscal quarter or portion thereof), and on the first day of each calendar fiscal quarter thereafter. The Revolving Credit Commitment Fee payable to each Bank shall be determined by multiplying three sixteenths the sum of one percent (3/16%) the Applicable Commitment Fee Percentage times the average daily unused amount (provided that Swing Line Loans shall not count as usage and Letters of Credit will count as usage) of the unused Revolving Credit Aggregate Commitment then in effect (in determining the unused portion of the Revolving Credit Aggregate Commitmenteffect, Letters of Credit shall be considered usage of the Revolving Credit and Swing Line Advances shall not be considered usage of the Revolving Credit)computed on a daily basis. The Revolving Credit Commitment Fee shall be computed on the basis of a year of three hundred sixty (360) days and assessed for the actual number of days elapsed. Whenever any payment of the Revolving Credit Commitment Fee shall be due on a day which is not a Business Day, the date for payment thereof shall be extended to the next Business Day. Upon receipt of such payment, Agent shall make prompt payment to each Bank Lender of its share of the Revolving Credit Commitment Fee based upon its respective Percentage. It is expressly understood that the Revolving Credit Commitment Fees described in this Section are not refundable under any circumstances.

Appears in 1 contract

Samples: Credit Agreement (FLD Acquisition Corp)

Revolving Credit Commitment Fee. From the Effective Date to the Revolving Credit Maturity Date, the Company shall pay to the Agent for distribution to the Revolving Credit Banks pro-rata in accordance with their respective Revolving Credit Percentages, a Revolving Credit Commitment Fee quarterly in arrears on the first day of each August, November, February and May, commencing July August 1, 2006 2008 (in respect of the prior calendar quarter three-month period or portion thereof), and on the first day of each calendar quarter thereafter. The Revolving Credit Commitment Fee payable to each Revolving Credit Bank shall be determined by multiplying three sixteenths of one percent (3/16%) the Applicable Fee Percentage times the average daily amount by which such Bank’s Percentage of the unused Revolving Credit Aggregate Commitment then in effect (in determining exceeds such Bank’s Percentage of the unused portion aggregate amount of the Advances outstanding under the Revolving Credit Aggregate Commitment, Letters (including Swing Line Advances) plus the aggregate outstanding amount of the Letter of Credit shall be considered usage of the Revolving Credit and Swing Line Advances shall not be considered usage of the Revolving Credit)Obligations. The Revolving Credit Commitment Fee shall be computed on the basis of a year of three hundred sixty (360) days and assessed for the actual number of days elapsed. Whenever any payment of the Revolving Credit Commitment Fee shall be due on a day which is not a Business Day, the date for payment thereof shall be extended to the next Business Day. Upon receipt of such payment, Agent shall make prompt payment to each Revolving Credit Bank of its share of the Revolving Credit Commitment Fee based upon its respective Revolving Credit Percentage. It is expressly understood that the Revolving Credit Commitment Fees described in this Section are not refundable under any circumstances.

Appears in 1 contract

Samples: Credit Agreement (Olympic Steel Inc)

Revolving Credit Commitment Fee. From the Effective Date to the Revolving Credit Maturity Date, the Company shall pay to the Agent for distribution to the Banks pro-rata in accordance with their respective Percentages, a Revolving Credit Commitment Fee quarterly in arrears commencing July April 1, 2006 2004 (in respect of the prior calendar quarter or portion thereof), and on the first day of each calendar quarter thereafter. The Revolving Credit Commitment Fee payable to each Bank shall be determined by multiplying three sixteenths one quarter of one percent (3/161/4%) times the average daily amount of the unused Revolving Credit Aggregate Commitment then in effect (in determining the unused portion of the Revolving Credit Aggregate Commitment, Letters of Credit shall be considered usage of the Revolving Credit and Swing Line Advances shall not be considered usage of the Revolving Credit). The Revolving Credit Commitment Fee shall be computed on the basis of a year of three hundred sixty (360) days and assessed for the actual number of days elapsed. Whenever any payment of the Revolving Credit Commitment Fee shall be due on a day which is not a Business Day, the date for payment thereof shall be extended to the next Business Day. Upon receipt of such payment, Agent shall make prompt payment to each Bank of its share of the Revolving Credit Commitment Fee based upon its respective Percentage. It is expressly understood that the Revolving Credit Commitment Fees described in this Section are not refundable under any circumstances.

Appears in 1 contract

Samples: Credit Agreement (Starcraft Corp /In/)

Revolving Credit Commitment Fee. From the Effective Date to the Revolving Credit Maturity Date, the Company Borrowers shall pay to the Agent for distribution to the Banks Revolving Credit Lenders pro-rata in accordance with their respective Percentages, a Revolving Credit Commitment Fee quarterly in arrears commencing July April 1, 2006 2007 (in respect of the prior calendar quarter or any portion thereof), and on the first day of each calendar quarter thereafter. The Revolving Credit Commitment Fee payable to each Bank shall be determined by multiplying three sixteenths of one percent (3/16%) times the average daily amount of the unused Revolving Credit Aggregate Commitment then in effect (in determining the unused portion of the Revolving Credit Aggregate Commitment, Letters of Credit shall be considered usage of the Revolving Credit and Swing Line Advances shall not be considered usage of the Revolving Credit). The Revolving Credit Commitment Fee shall be computed on the basis of a year of three hundred sixty (360) days and assessed for the actual number of days elapsed. Whenever any payment of the Revolving Credit Commitment Fee shall be due on a day which is not a Business Day, the date for payment thereof shall be extended to the next Business Day. The Revolving Credit Commitment Fee payable to each Revolving Credit Lender shall be determined by multiplying the Applicable Fee Percentage times the average daily amount by which such Lender’s Percentage of the Revolving Credit Aggregate Commitment then in effect exceeds the sum of (i) such Lender’s Revolving Credit Percentage of the aggregate principal amount of Revolving Credit Advances outstanding from time to time during such period and (ii) such Lender’s Percentage of the Letter of Credit Obligations outstanding from time to time during such period, calculated on a daily basis. The Revolving Credit Commitment Fee shall be computed on the basis of a year of three hundred sixty (360) days and assessed for the actual number of days elapsed. Upon receipt of such payment, Agent shall make prompt payment to each Bank Lender of its share of the Revolving Credit Commitment Fee based upon its respective Revolving Credit Percentage. It is expressly understood that the Revolving Credit Commitment Fees described in this Section are not refundable under any circumstances.

Appears in 1 contract

Samples: Revolving Credit Agreement (Microsemi Corp)

AutoNDA by SimpleDocs

Revolving Credit Commitment Fee. From the Effective Date to the Revolving Credit Maturity Date, the Company shall pay to the Agent for distribution to the Revolving Credit Banks pro-rata in accordance with their respective Revolving Credit Percentages, a Revolving Credit Commitment Fee quarterly in arrears commencing July April 1, 2006 2003 (in respect of the prior calendar fiscal quarter or portion thereof), and on the first day of each calendar fiscal quarter thereafter. The Revolving Credit Commitment Fee payable to each Revolving Credit Bank shall be determined by multiplying three sixteenths of one percent (3/16%) the Applicable Fee Percentage times the average daily amount by which such Bank's Percentage of the unused Revolving Credit Aggregate Commitment then in effect (in determining exceeds such Bank's Percentage of the unused portion aggregate amount of the Advances outstanding under the Revolving Credit Aggregate Commitment, Letters (including Swing Line Advances) plus the aggregate outstanding amount of the Letter of Credit shall be considered usage of the Revolving Credit and Swing Line Advances shall not be considered usage of the Revolving Credit)Obligations. The Revolving Credit Commitment Fee shall be computed on the basis of a year of three hundred sixty (360) days and assessed for the actual number of days elapsed. Whenever any payment of the Revolving Credit Commitment Fee shall be due on a day which is not a Business Day, the date for payment thereof shall be extended to the next Business Day. Upon receipt of such payment, Agent shall make prompt payment to each Revolving Credit Bank of its share of the Revolving Credit Commitment Fee based upon its respective Revolving Credit Percentage. It is expressly understood that the Revolving Credit Commitment Fees described in this Section are not refundable under any circumstances.

Appears in 1 contract

Samples: Credit Agreement (Olympic Steel Inc)

Revolving Credit Commitment Fee. From the Effective Date to the Revolving Credit Maturity Date, the Company shall pay to the Agent for distribution to the Banks pro-rata in accordance with their respective Percentages, a Revolving Credit Commitment Fee quarterly in arrears commencing July October 1, 2006 2005 (in respect of the prior calendar quarter or portion thereof), and on the first day of each calendar quarter thereafter. The Revolving Credit Commitment Fee payable to each Bank shall be determined by multiplying three sixteenths of one percent (3/16%) times the average daily amount of the unused Revolving Credit Aggregate Commitment then in effect (in determining the unused portion of the Revolving Credit Aggregate Commitment, Letters of Credit shall be considered usage of the Revolving Credit and Swing Line Advances shall not be considered usage of the Revolving Credit). The Revolving Credit Commitment Fee shall be computed on the basis of a year of three hundred sixty (360) days and assessed for the actual number of days elapsed. Whenever any payment of the Revolving Credit Commitment Fee shall be due on a day which is not a Business Day, the date for payment thereof shall be extended to the next Business Day. Upon receipt of such payment, Agent shall make prompt payment to each Bank of its share of the Revolving Credit Commitment Fee based upon its respective Percentage. It is expressly understood that the Revolving Credit Commitment Fees described in this Section are not refundable under any circumstances.

Appears in 1 contract

Samples: Credit Agreement (Quantum Fuel Systems Technologies Worldwide Inc)

Revolving Credit Commitment Fee. From the Effective Date to the Revolving Credit Maturity Date, the Company Borrowers shall pay to the Agent for distribution to the Banks pro-rata in accordance with their respective Percentagespercentages, a Revolving Credit Commitment Fee quarterly in arrears commencing July January 1, 2006 1999 (in respect of the prior calendar fiscal quarter or portion thereof), and on the first day of each calendar fiscal quarter thereafter. The Revolving Credit Commitment Fee payable to each Bank shall be determined by multiplying three sixteenths equal to the sum of one percent (3/16%) the Applicable Commitment Fee Percentage times the average daily amount of by which the unused Revolving Credit Aggregate Commitment then in effect (in determining less the unused portion aggregate daily undrawn amount of any Letters of Credit exceeds the principal amount of Advances outstanding from time to time under the Revolving Credit Aggregate Commitment, Letters of Credit shall be considered usage of the Revolving Credit and Swing Line Advances shall not be considered usage of the Revolving Credit)computed on a daily basis. The Revolving Credit Commitment Fee shall be computed on the basis of a year of three hundred sixty (360) days and assessed for the actual number of days elapsed. Whenever any payment of the Revolving Credit Commitment Fee shall be due on a day which is not a Business Day, the date for payment thereof shall be extended to the next Business Day. Upon receipt of such payment, Agent shall make prompt payment to each Bank of its share of the Revolving Credit Commitment Fee based upon its respective Percentage. It is expressly understood that the Revolving Credit Commitment Fees described in this Section are not refundable under any circumstances.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Commercial Vehicle Group, Inc.)

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