Revolving Credit Facility 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 Facility Fee quarterly in arrears commencing October 1, 1999 (in respect of the prior fiscal quarter or portion thereof), and on the first day of each fiscal quarter thereafter. The Revolving Credit Facility Fee shall be the sum of the one quarter of one percent (3%) per annum multiplied by Revolving Credit Aggregate Commitment (whether used or unused) then in effect without giving effect to any reductions therein based on the amount of the Environmental Reserve, computed on a daily basis. The Revolving Credit Facility 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 Facility 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 Facility Fee based upon its
Appears in 1 contract
Samples: Revolving Credit Agreement (Meadowbrook Insurance Group Inc)
Revolving Credit Facility Fee. From the Effective Date date hereof to the Revolving Credit Maturity Date, the Company shall pay to the Agent on behalf of Agent, for distribution to the Banks (as set forth below), a Revolving Credit Facility Fee determined by multiplying the Applicable Fee Percentage per annum times the Revolving Credit Maximum Amount then applicable under Section 2.15 hereof (whether used or unused), computed on a daily basis. The Revolving Credit Facility Fee shall be payable quarterly in arrears commencing October April 1, 1999 2006 (in respect of the prior fiscal calendar quarter or portion thereof), and on the first day of each fiscal calendar quarter thereafter. The thereafter and on the Revolving Credit Facility Fee shall be the sum of the one quarter of one percent (3%) per annum multiplied by Revolving Credit Aggregate Commitment (whether used or unused) then in effect without giving effect to any reductions therein based on the amount of the Environmental ReserveMaturity Date, computed on a daily basis. The Revolving Credit Facility Fee 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 Facility 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, payment Agent shall make prompt payment to each Bank of its share of the Revolving Credit Facility Fee based upon itsits respective Percentage.
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Revolving Credit Facility Fee. From the Effective Date date hereof to the Revolving Credit Maturity Date, the Company shall pay to the Agent on behalf of Agent, for distribution to the Banks (as set forth below), a Revolving Credit Facility Fee determined by multiplying the Applicable Fee Percentage per annum times the Revolving Credit Maximum Amount then applicable under Section 3.15 hereof (whether used or unused), computed on a daily basis. The Revolving Credit Facility Fee shall be payable quarterly in arrears commencing October January 1, 1999 1997 (in respect of the prior fiscal calendar quarter or portion thereof), and on the first day of each fiscal calendar quarter thereafter. The thereafter and on the Revolving Credit Facility Fee shall be the sum of the one quarter of one percent (3%) per annum multiplied by Revolving Credit Aggregate Commitment (whether used or unused) then in effect without giving effect to any reductions therein based on the amount of the Environmental ReserveMaturity Date, computed on a daily basis. The Revolving Credit Facility Fee 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 Facility 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, payment Agent shall make prompt payment to each Bank of its share of the Revolving Credit Facility Fee based upon itsits respective Percentage.
Appears in 1 contract
Samples: Revolving Credit Agreement (Credit Acceptance Corporation)
Revolving Credit Facility 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 Facility Fee quarterly in arrears commencing October 1, 1999 1998 (in respect of the prior fiscal quarter or portion thereof), and on the first day of each fiscal quarter thereafter. The Revolving Credit Facility Fee shall be the sum of the fifteen one quarter hundredths of one percent (3.15%) per annum multiplied by Revolving Credit Aggregate Commitment (whether used or unused) then in effect without giving effect to any reductions therein based on the amount of the Environmental Reserve, computed on a daily basis. The Revolving Credit Facility 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 Facility 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 Facility Fee based upon itsits respective Percentage. It is expressly understood that the Revolving Credit Facility Fees described in this Section are not refundable under any circumstances.
Appears in 1 contract
Samples: Revolving Credit Agreement (Meadowbrook Insurance Group Inc)
Revolving Credit Facility 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 Facility Fee quarterly in arrears commencing October 1, 1999 1998 (in respect of the prior fiscal quarter or portion thereof), and on the first day of each fiscal quarter thereafter. The Revolving Credit Facility Fee shall be the sum of the one quarter of one percent (3%) per annum multiplied by Applicable Facility Fee Percentage times the Revolving Credit Aggregate Commitment (whether used or unused) then in effect without giving effect to any reductions therein based on the amount of the Environmental Reserve, computed on a daily basis. The Revolving Credit Facility 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 Facility 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 Facility Fee based upon itsits respective Percentage. It is expressly understood that the Revolving Credit Facility Fees described in this Section are not refundable under any circumstances.
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Revolving Credit Facility Fee. From the Effective Date to the Revolving Credit Maturity Date, the Company shall pay to the Agent on behalf of Banks Agent, for distribution to the Lenders (as set forth below), a Revolving Credit Facility Fee determined by multiplying the Applicable Fee Percentage per annum times the Revolving Credit Aggregate Commitment then applicable under Section 2.15 hereof (whether used or unused) computed on a daily basis. The Revolving Credit Facility Fee shall be payable quarterly in arrears commencing October April 1, 1999 1998 (in respect of the prior fiscal calendar quarter or portion thereof), and on the first day of each fiscal calendar quarter thereafter. The thereafter and on the Revolving Credit Facility Fee shall be the sum of the one quarter of one percent (3%) per annum multiplied by Revolving Credit Aggregate Commitment (whether used or unused) then in effect without giving effect to any reductions therein based on the amount of the Environmental ReserveMaturity Date, computed on a daily basis. The Revolving Credit Facility Fee 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 Facility 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, payment Agent shall make prompt payment to each Bank Lender of its share of the Revolving Credit Facility Fee based upon itsits respective Percentage.
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Samples: Short Term Revolving Credit Agreement (Vishay Intertechnology Inc)