Common use of Revolving Credit Fees Clause in Contracts

Revolving Credit Fees. At all times during the Availability Period, including at any time during which one or more of the conditions in Article IV is not met, the Borrower shall pay to the Administrative Agent, for the account of each Revolving Credit Lender in accordance with its Applicable Revolving Credit Percentage, (i) prior to the Investment Grade Pricing Effective Date, an unused line fee (the “Unused Fee”) equal to the Applicable Fee Rate times the actual daily amount by which the Revolving Credit Facility exceeds the sum of (x) the Outstanding Amount of Revolving Credit Loans and (y) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.17, and (ii) at all times on and after the Investment Grade Pricing Effective Date, a facility fee (the “Facility Fee”) equal to the “Facility Fee” component of the Applicable Rate times the actual daily amount of the Revolving Credit Facility (or, if the Revolving Credit Commitments have terminated, the Total Revolving Credit Outstandings). For the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be counted towards or considered usage of the Revolving Credit Facility for purposes of determining the Unused Fee. Accrued Unused Fees pursuant to clause (i) above and Facility Fees pursuant to clause (ii) above shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the last day of the Availability Period for the Revolving Credit Facility. The Unused Fee and the Facility Fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Fee Rate or the “Facility Fee” component of the Applicable Rate, as applicable, during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Fee Rate or the “Facility Fee” component of the Applicable Rate, as the case may be, separately for each period during such quarter that such Applicable Fee Rate or “Facility Fee” component of the Applicable Rate was in effect.

Appears in 2 contracts

Samples: Credit Agreement (CIM Commercial Trust Corp), Credit Agreement (CIM Commercial Trust Corp)

AutoNDA by SimpleDocs

Revolving Credit Fees. At all times during the Availability Period, including at any time during which one or more of the conditions in Article IV is not met, the Borrower The Borrowers shall pay to the Administrative Agent, Agent for the account of each Revolving Credit Lender in accordance with its Applicable Percentage of the Aggregate Revolving Credit Percentage, Commitments, (i) prior to the Investment Grade Pricing Effective Date, an unused line fee (the “Unused Fee”) in Dollars equal to the Applicable Fee Rate times the actual daily amount by which the Aggregate Revolving Credit Facility Commitments exceeds the sum of (x) the Outstanding Amount of Committed Revolving Credit Loans and (y) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.17, and 2.18 and (ii) at all times on and after the Investment Grade Pricing Effective Date, a facility fee (the “Facility Fee”) in Dollars equal to the Facility Fee” component of the Applicable Fee Rate times the actual daily amount of the Aggregate Revolving Credit Facility Commitments (or, if the Aggregate Revolving Credit Commitments have terminated, on the Total Outstanding Amount of all Committed Revolving Credit OutstandingsLoans, Swing Line Loans and L/C Obligations), regardless of usage, subject to adjustment as provided in Section 2.18. For the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be counted towards or considered usage of the Revolving Credit Facility for purposes of determining the Unused Fee. Accrued Unused Fees pursuant to clause (i) above and Facility Fees pursuant to clause (ii) above shall accrue at all times during the Availability Period (and thereafter so long as any Committed Revolving Loans, Swing Line Loans or L/C Obligations remain outstanding), including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable quarterly in arrears (calculated on a 360-day basis) on the last Business Day of each March, June, September and Decembercalendar quarter, commencing with the first such date to occur after the Closing Restatement Effective Date, and on the last day of the Availability Period for the Revolving Credit FacilityMaturity Date (and, if applicable, thereafter on demand). The Unused Fee and the Facility Fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Fee Rate or the Facility Fee” component of the Applicable Fee Rate, as applicable, during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Fee Rate or the Facility Fee” component of the Applicable Fee Rate, as the case may be, separately for each period during such quarter that such Applicable Fee Rate or Facility Fee” component of the Applicable Fee Rate was in effect.

Appears in 2 contracts

Samples: Credit Agreement (Sabra Health Care REIT, Inc.), Credit Agreement (Sabra Health Care REIT, Inc.)

Revolving Credit Fees. At all times during the Availability Period, including at any time during which one or more of the conditions in Article IV is not met, the The Borrower shall pay to the Administrative Agent, Agent for the account of each Revolving Credit Lender in accordance with its Applicable Revolving Credit Percentage, , (i) prior to commencing on the six month anniversary of the Closing Date until the Investment Grade Pricing Effective Date, an unused line a commitment fee (the “Unused Commitment Fee”) equal to the Applicable Fee Rate times the actual daily amount by which the Revolving Credit Facility exceeds Aggregate Commitments exceed the sum of (x) the Outstanding Amount of Revolving Credit Committed Loans and (y) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.17, and and (ii) at all times on and after the Investment Grade Pricing Effective Date, a facility fee (the “Facility Fee”) equal to the “Facility Fee” component of the Applicable Rate times the actual daily amount of the Revolving Credit Facility Aggregate Commitments (or, if the Revolving Credit Aggregate Commitments have terminated, the Total Revolving Credit Outstandings). For the avoidance of doubt, on the Outstanding Amount of Swing Line all Committed Loans and L/C Obligations), regardless of usage, subject to adjustment as provided in Section 2.17. The Commitment Fee and Facility Fee shall not be counted towards accrue at all times during the Availability Period (and thereafter so long as any Committed Loans or considered usage L/C Obligations remain outstanding), including at any time during which one or more of the Revolving Credit Facility for purposes of determining the Unused Fee. Accrued Unused Fees pursuant to clause (i) above conditions in Article IV is not met, and Facility Fees pursuant to clause (ii) above shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the six month anniversary of the Closing Date, and on the last day of the Availability Period for the Revolving Credit FacilityMaturity Date (and, if applicable, thereafter on demand). The Unused Commitment Fee and the Facility Fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Fee Rate or the “Facility Fee” component of the Applicable Rate, as applicable, during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Fee Rate or the “Facility Fee” component of the Applicable Rate, as the case may be, separately for each period during such quarter that such Applicable Fee Rate or “Facility Fee” component of the Applicable Rate was in effect.

Appears in 2 contracts

Samples: Credit Agreement (Safety, Income & Growth, Inc.), Credit Agreement (Safety, Income & Growth, Inc.)

Revolving Credit Fees. At all times during the Availability Period, including at any time during which one or more of the conditions in Article IV is not met, the The Borrower shall pay to the Administrative Agent, Agent for the account of each Revolving Credit Lender in accordance with its Applicable Percentage of the Aggregate Revolving Credit Percentage, Commitments, (i) prior to the Investment Grade Pricing Effective Date, an unused line fee (the “Unused Fee”) in Dollars equal to the Applicable Fee Rate times the actual daily amount by which the Aggregate Revolving Credit Facility Commitments exceeds the sum of (x) the Outstanding Amount of Committed Revolving Credit Loans and (y) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.17, and 2.18 and (ii) at all times on and after the Investment Grade Pricing Effective Date, a facility fee (the “Facility Fee”) in Dollars equal to the Facility Fee” component of the Applicable Fee Rate times the actual daily amount of the Aggregate Revolving Credit Facility Commitments (or, if the Aggregate Revolving Credit Commitments have terminated, on the Total Outstanding Amount of all Committed Revolving Credit OutstandingsLoans, Swing Line Loans, Negotiated Rate Loans and L/C Obligations), regardless of usage, subject to adjustment as provided in Section 2.18. For the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be counted towards or considered usage of the Revolving Credit Facility for purposes of determining the Unused Fee. Accrued Unused Fees pursuant to clause (i) above and Facility Fees pursuant to clause (ii) above shall accrue at all times during the Availability Period (and thereafter so long as any Committed Revolving Loans, Swing Line Loans, Negotiated Rate Loans or L/C Obligations remain outstanding), including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable quarterly in arrears (calculated on a 360-day basis) on the last Business Day of each March, June, September and Decembercalendar quarter, commencing with the first such date to occur after the Closing Date, and on the last day of the Availability Period for the Revolving Credit FacilityMaturity Date (and, if applicable, thereafter on demand). The Unused Fee and the Facility Fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Fee Rate or the Facility Fee” component of the Applicable Fee Rate, as applicable, during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Fee Rate or the Facility Fee” component of the Applicable Fee Rate, as the case may be, separately for each period during such quarter that such Applicable Fee Rate or Facility Fee” component of the Applicable Fee Rate was in effect.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Care Capital Properties, Inc.)

AutoNDA by SimpleDocs

Revolving Credit Fees. At all times during the Availability Period, including at any time during which one or more of the conditions in Article IV is not met, the The Borrower shall pay to the Administrative Agent, Agent for the account of each Revolving Credit Lender in accordance with its Applicable Revolving Credit Percentage, , (i) prior to commencing on the Closing Date until the Investment Grade Pricing Effective Date, an unused line a commitment fee (the “Unused Commitment Fee”) equal to the Applicable Fee Rate times the actual daily amount by which the Revolving Credit Facility exceeds Aggregate Commitments exceed the sum of (x) the Outstanding Amount of Revolving Credit Loans and (y) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.17, and and (ii) at all times on and after the Investment Grade Pricing Effective Date, a facility fee (the “Facility Fee”) equal to the “Facility Fee” component of the Applicable Rate times the actual daily amount of the Revolving Credit Facility Aggregate Commitments (or, if the Revolving Credit Aggregate Commitments have terminated, the Total Revolving Credit Outstandings). For the avoidance of doubt, on the Outstanding Amount of Swing Line all Loans and L/C Obligations), regardless of usage, subject to adjustment as provided in Section 2.17. The Commitment Fee or the Facility Fee, as applicable, shall not be counted towards accrue at all times during the Availability Period (and thereafter so long as any Loans or considered usage L/C Obligations remain outstanding), including at any time during which one or more of the Revolving Credit Facility for purposes of determining the Unused Fee. Accrued Unused Fees pursuant to clause (i) above conditions in Article IV is not met, and Facility Fees pursuant to clause (ii) above shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the last day of the Availability Period for the Revolving Credit FacilityMaturity Date (and, if applicable, thereafter on demand). The Unused Commitment Fee and or the Facility Fee Fee, as applicable, shall be calculated quarterly in arrears, and if there is any change in the Applicable Fee Rate or the “Facility Fee” component of the Applicable Rate, as applicable, during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Fee Rate or the “Facility Fee” component of the Applicable Rate, as the case may be, separately for each period during such quarter that such Applicable Fee Rate or “Facility Fee” component of the Applicable Rate was in effect.

Appears in 1 contract

Samples: Credit Agreement (Safehold Inc.)

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