Revolving Credit Commitment Fee. From the Effective Date to the Revolving Credit Maturity Date, the Company shall pay to the Agent on behalf of Banks a Revolving Credit Commitment Fee quarterly in arrears commencing April 1, 1998 (in respect of the prior calendar quarter or portion thereof), and on the first day of each Fiscal Quarter thereafter. The Revolving Credit Commitment Fee shall be the sum of the Applicable Commitment Fee Percentage times the daily average amount by which the Revolving Credit Aggregate Commitment then applicable under Section 2.6 hereof exceeds the sum of (i) the aggregate principal amount of Revolving Credit Advances outstanding during such period, (ii) the Letter of Credit Obligations during such period, and (iii) the aggregate principal amount of Swing Line Advances outstanding during such period, in each case determined 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 2 contracts
Sources: Revolving Credit Agreement (Alrenco Inc), Revolving Credit Agreement (Alrenco Inc)
Revolving Credit Commitment Fee. From the Effective Date to the Revolving Credit Maturity Date, the Company shall pay to the Agent on behalf of for distribution to the Banks pro-rata in accordance with their respective Percentages, a Revolving Credit Commitment Fee quarterly in arrears commencing April July 1, 1998 2006 (in respect of the prior calendar quarter or portion thereof), and on the first day of each Fiscal Quarter 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 sum average daily amount of the Applicable Commitment Fee Percentage times the daily average amount by which the unused Revolving Credit Aggregate Commitment then applicable under Section 2.6 hereof exceeds in effect (in determining the sum unused portion of (i) the aggregate principal amount of Revolving Credit Advances outstanding during such periodAggregate Commitment, (ii) the Letter Letters of Credit Obligations during such period, shall be considered usage of the Revolving Credit and (iii) the aggregate principal amount of Swing Line Advances outstanding during such period, in each case determined on a daily basisshall 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
Sources: Credit Agreement (Quantum Fuel Systems Technologies Worldwide Inc)
Revolving Credit Commitment Fee. From the Effective Date to the Revolving Credit Maturity Date, the Company shall pay to the Agent on behalf of 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 April August 1, 1998 2008 (in respect of the prior calendar quarter three-month period or portion thereof), and on the first day of each Fiscal Quarter thereafter. The Revolving Credit Commitment Fee payable to each Revolving Credit Bank shall be the sum of determined by multiplying the Applicable Commitment Fee Percentage times the average daily average amount by which such Bank’s Percentage of the Revolving Credit Aggregate Commitment then applicable under Section 2.6 hereof in effect exceeds the sum such Bank’s Percentage of (i) the aggregate principal amount of the Advances outstanding under the Revolving Credit Advances (including Swing Line Advances) plus the aggregate outstanding during such period, (ii) amount of the Letter of Credit Obligations during such period, and (iii) the aggregate principal amount of Swing Line Advances outstanding during such period, in each case determined on a daily basisObligations. 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
Sources: Credit Agreement (Olympic Steel Inc)
Revolving Credit Commitment Fee. From the Effective Date date hereof to (but excluding) the Revolving Credit Maturity Date, the Company shall pay to each of the Agent on behalf of Banks Revolving Credit Banks, a Revolving Credit Commitment Fee quarterly in arrears commencing April 1, 1998 (in respect consisting of the prior calendar quarter or portion thereof), and on the first day of each Fiscal Quarter thereafter. The Revolving Credit Commitment Fee shall be the sum of the Applicable Commitment Fee Percentage twenty basis points per annum times the average daily average amount by which such Bank's Percentage of the Revolving Credit Aggregate Commitment then applicable under Section 2.6 hereof in effect exceeds the sum of (i) such Bank's Percentage of the aggregate principal amount of Revolving Credit Advances and Swing Line Advances outstanding during such period, (ii) the Letter of Credit Obligations from time to time during such period, and (iiiii) such Bank's Percentage of the aggregate principal daily undrawn amount of Swing Line Advances outstanding any standby Letters of Credit during such period, in each case determined calculated on a daily basis. The Revolving Credit Commitment Fee shall be payable quarterly in arrears commencing April 1, 1996, and on the first day of each calendar quarter thereafter and at the Revolving Credit Maturity Date, and 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. Such Revolving Credit Commitment Fees shall be paid by Company to the Agent. 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 PercentageFee. It is expressly understood that the The Revolving Credit Commitment Fees described in this Section are Fee shall not be refundable under any circumstances.
Appears in 1 contract
Revolving Credit Commitment Fee. From the Effective Date to the Revolving Credit Maturity Date, the Company Borrowers shall pay to the Agent on behalf of for distribution to the Banks pro-rata in accordance with their respective percentages, a Revolving Credit Commitment Fee quarterly in arrears commencing April January 1, 1998 1999 (in respect of the prior calendar fiscal quarter or portion thereof), and on the first day of each Fiscal Quarter fiscal quarter thereafter. The Revolving Credit Commitment Fee shall be equal to the sum of the Applicable Commitment Fee Percentage times the daily average amount by which the Revolving Credit Aggregate Commitment then applicable under Section 2.6 hereof in effect less the aggregate daily undrawn amount of any Letters of Credit exceeds the sum principal amount of (i) Advances outstanding from time to time under the Revolving Credit and the aggregate principal amount of Revolving Credit Advances outstanding during such period, (ii) the Letter of Credit Obligations during such period, and (iii) the aggregate principal amount of all Swing Line Advances outstanding during such periodfrom time to time, in each case determined 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 Revolving/Term 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
Sources: Revolving Credit and Term Loan Agreement (Commercial Vehicle Group, Inc.)
Revolving Credit Commitment Fee. From the Effective Date to the Revolving Credit Maturity Date, the Company shall pay to the Agent on behalf of Banks a Revolving Credit Commitment Fee quarterly in arrears commencing April January 1, 1998 1997 (in respect of the prior calendar quarter or portion thereof), and on the first day of each Fiscal Quarter thereafter. The Revolving Credit Commitment Fee shall be the sum of the Applicable Commitment Fee Percentage times the daily average amount by which the Revolving Credit Aggregate Commitment then applicable under Section 2.6 hereof exceeds the sum of (i) the aggregate principal amount of Revolving Credit Advances outstanding during such period, (ii) the Letter of Credit Obligations during such period, and (iii) the aggregate principal amount of Swing Line Advances outstanding during such period, in each case determined 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
Revolving Credit Commitment Fee. From the Effective Date to the Revolving Credit Maturity Date, the Company shall pay to the Agent on behalf of 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 April 1, 1998 2003 (in respect of the prior calendar fiscal quarter or portion thereof), and on the first day of each Fiscal Quarter fiscal quarter thereafter. The Revolving Credit Commitment Fee payable to each Revolving Credit Bank shall be the sum of determined by multiplying the Applicable Commitment Fee Percentage times the average daily average amount by which such Bank's Percentage of the Revolving Credit Aggregate Commitment then applicable under Section 2.6 hereof in effect exceeds the sum such Bank's Percentage of (i) the aggregate principal amount of the Advances outstanding under the Revolving Credit Advances (including Swing Line Advances) plus the aggregate outstanding during such period, (ii) amount of the Letter of Credit Obligations during such period, and (iii) the aggregate principal amount of Swing Line Advances outstanding during such period, in each case determined on a daily basisObligations. 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
Sources: Credit Agreement (Olympic Steel Inc)