Revolving Loan Unused Fee. Borrower shall pay to Administrative Agent for the account of Lenders a non-refundable, recurring Revolving Loan Unused Fee calculated by applying the daily equivalent of an annual Unused Fee Rate determined pursuant to the table set forth in Section 4.6 to the Unused Revolving Loan Commitment on each day during the period from the Effective Date to the Revolving Loan Maturity Date. The Unused Revolving Loan Commitment on any day shall be the difference between (i) the amount of the Aggregate Revolving Loan Commitment and (ii) the sum of (a) the Aggregate Revolving Loan, and (b) the face amount of all outstanding Letters of Credit and (c) without duplication of clause (b), the total of all amounts drawn on the outstanding Letters of Credit but not reimbursed to the Letter of Credit Issuer by Borrower as of the close of business on such day, but excluding in all cases the Swingline Loan. The Revolving Loan Unused Fee shall be payable quarterly in arrears commencing on the last day of the first calendar quarter ending after the Effective Date and continuing on the last day of each calendar quarter thereafter and on the Revolving Loan Maturity Date. The Unused Fee Rate shall be determined from the chart in Section 4.6 of this Agreement under the heading "Unused Fee Rate." The Unused Fee Rate applicable on the Effective Date shall be Level III. Thereafter, the Borrower's ratio of Funded Indebtedness to EBITDA for the four fiscal quarter period of Borrower most recently ended will be calculated and applied to determine the applicable Unused Fee Rate in the same manner used for determination of the applicable Base Rate Revolving Margin, and Eurodollar Revolving Margin as described in Section 4.6.
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Samples: Loan Agreement (Angelica Corp /New/)
Revolving Loan Unused Fee. Borrower shall pay to Administrative Agent for the account of Lenders a non-refundable, recurring Revolving Loan Unused Fee calculated by applying the daily equivalent of an annual Unused Fee Rate determined pursuant to the table set forth in Section 4.6 to the Unused Revolving Loan Commitment on each day during the period from the Effective Date to the Revolving Loan Maturity Date. The Unused Revolving Loan Commitment on any day shall be the difference between (i) the amount of the Aggregate Revolving Loan Commitment and (ii) the sum of (a) the Aggregate Revolving Loan, and (b) the face amount of all outstanding Letters of Credit and (c) without duplication of clause (b), the total of all amounts drawn on the outstanding Letters of Credit but not reimbursed to the Letter of Credit Issuer by Borrower as of the close of business on such day, but excluding in all cases the Swingline Loan. The Revolving Loan Unused Fee shall be payable quarterly in arrears commencing on the last day of the first calendar quarter ending after the Effective Date and continuing on the last day of each calendar quarter thereafter and on the Revolving Loan Maturity Date. The Unused Fee Rate shall be determined from the chart in Section 4.6 of this Agreement under the heading "Unused Fee Rate." The Unused Fee Rate applicable on the Effective Date shall be Level IIIII. Thereafter, the Borrower's ratio of Funded Indebtedness to EBITDA for the four fiscal quarter period of Borrower most recently ended will be calculated and applied to determine the applicable Unused Fee Rate in the same manner used for determination of the applicable Base Rate Revolving Margin, and Eurodollar Revolving Margin as described in Section 4.6.
Appears in 1 contract
Samples: Loan Agreement (Angelica Corp /New/)
Revolving Loan Unused Fee. Borrower shall pay to Administrative Agent for the account of Lenders a non-refundable, recurring Revolving Loan Unused Fee calculated by applying the daily equivalent of an annual Unused Fee Rate determined pursuant to the table set forth in Section 4.6 to the Unused Revolving Loan Commitment on each day during the period from the Effective Date to the Revolving Loan Maturity Date. The Unused Revolving Loan Commitment on any day shall be the difference between (i) the amount of the Aggregate Revolving Loan Commitment and (ii) the sum of (a) the Aggregate Revolving Loan, and (b) the face amount of all outstanding Letters of Credit and (c) without duplication of clause (b), the total of all amounts drawn on the outstanding Letters of Credit but not reimbursed to the Letter of Credit Issuer by Borrower as of the close of business on such day, but excluding in all cases the Swingline Loan. The Revolving Loan Unused Fee shall be payable quarterly in arrears commencing on the last day of the first calendar quarter ending after the Effective Date and continuing on the last day of each calendar quarter thereafter and on the Revolving Loan Maturity Date. The Unused Fee Rate shall be determined from the chart in Section 4.6 of this Agreement under the heading "Unused Fee Rate." The Unused Fee Rate applicable on the Effective Date shall be Level IIIIV through the computation date (as set forth in the next sentence) for the January 31, 2004 Financial Statements and Compliance Certificate. Thereafter, the Borrower's ratio of Total Funded Indebtedness to EBITDA for the four fiscal quarter period of Borrower most recently ended will be calculated and applied to determine the applicable Unused Fee Rate in the same manner used for determination of the applicable Base Rate Revolving Margin, and Eurodollar Revolving Margin as described in Section 4.6.
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Revolving Loan Unused Fee. Borrower shall pay to Administrative Agent for the account of Lenders a non-refundable, recurring Revolving Loan Unused Fee calculated by applying the daily equivalent of an annual Unused Fee Rate determined pursuant to the table set forth in Section 4.6 to the Unused Revolving Loan Commitment on each day during the period from the Effective Date to the Revolving Loan Maturity Date. The Unused Revolving Loan Commitment on any day shall be the difference between (i) the amount of the Aggregate Revolving Loan Commitment and (ii) the sum of (a) the Aggregate Revolving Loan, and (b) the face amount of all outstanding Letters of Credit and (c) without duplication of clause (b), the total of all amounts drawn on the outstanding Letters of Credit but not reimbursed to the Letter of Credit Issuer by Borrower as of the close of business on such day, but excluding in all cases the Swingline Loan. The Revolving Loan Unused Fee shall be payable quarterly in arrears commencing on the last day of the first calendar quarter ending after the Effective Date and continuing on the last day of each calendar quarter thereafter and on the Revolving Loan Maturity Date. The Unused Fee Rate shall be determined from the chart in Section 4.6 of this Agreement under the heading "Unused Fee Rate." The Unused Fee Rate applicable on the Effective Date shall be Level IIIIV. Thereafter, the Borrower's ratio of Funded Indebtedness to EBITDA for the four fiscal quarter period of Borrower most recently ended will be calculated and applied to determine the applicable Unused Fee Rate in the same manner used for determination of the applicable Base Rate Revolving Margin, and Eurodollar LIBOR Revolving Margin as described in Section 4.6.
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Samples: Loan Agreement (Angelica Corp /New/)
Revolving Loan Unused Fee. Borrower shall agrees to pay to Administrative Agent each Fiscal Quarter for the account of Lenders a non-refundable, recurring Revolving Loan Unused Fee calculated each Lender in accordance with each Lender’s Percentage for the period (including any portion thereof when any of its Commitments are suspended by applying reason of Borrower’s inability to satisfy any condition of Article V of this Agreement) commencing on the daily equivalent of an annual Unused Fee Rate determined pursuant to Closing Date and continuing through the table set forth in Section 4.6 to the Unused Revolving Loan Commitment on Termination Date, an unused fee calculated as follows: (i) for each day during the period from applicable Fiscal Quarter that the Effective Date to Aggregate Outstanding Balance is less than 50% of the Revolving Loan Maturity Date. The Unused Revolving Loan Commitment on any day shall be Commitment, an unused fee at a rate per annum equal to 0.30% multiplied by the difference between (i) sum of the amount unused portion of the Aggregate Revolving Loan Commitment and (ii) the sum of (a) the Aggregate Revolving Loanplus any outstanding Swingline Loans, and (b) the face amount of all outstanding Letters of Credit and (c) without duplication of clause (b), the total of all amounts drawn on the outstanding Letters of Credit but not reimbursed to the Letter of Credit Issuer by Borrower as of the close of business on such day, but excluding in all cases or (ii) for each day during the Swingline Loan. The applicable Fiscal Quarter that the Aggregate Outstanding Balance is equal to or greater than 50% of the Revolving Loan Unused Fee Commitment, an unused fee at a rate per annum equal to 0.20% multiplied by the sum of the unused portion of the Aggregate Commitment plus any outstanding Swingline Loans, on such day. All unused fees payable pursuant to this Section shall be calculated on a year comprised of 360 days and payable quarterly by the Borrower in arrears on each Quarterly Payment Date, commencing on the last day of with the first calendar quarter ending after Quarterly Payment Date following the Effective Date and continuing on the last day of each calendar quarter thereafter Closing Date, and on the Revolving Loan Maturity Commitment Termination Date. The Unused Fee Rate Notwithstanding anything to the contrary in this Section 3.4.1, Borrower shall not be obligated to pay any of the foregoing fees to a Defaulting Lender that would otherwise have been payable to such Lender for the time period during which such Lender shall have been a Defaulting Lender; provided, however, each Lender’s Percentage shall be determined from adjusted, as applicable, to account for any Non-Defaulting Lender who funds additional amounts to Borrower in lieu of any amounts not funded by a Defaulting Lender so that such Non-Defaulting Lender would receive the chart in Section 4.6 of this Agreement under the heading "Unused Fee Rate." The Unused Fee Rate applicable on the Effective Date shall be Level III. Thereafter, the Borrower's ratio of Funded Indebtedness foregoing fees payable to EBITDA such Defaulting Lender for the four fiscal quarter time period of Borrower most recently ended will be calculated and applied to determine during which the applicable Unused Fee Rate in the same manner used for determination of the applicable Base Rate Revolving Margin, and Eurodollar Revolving Margin as described in Section 4.6Lender Default existed.
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Revolving Loan Unused Fee. Borrower shall agrees to pay to Administrative Agent for the account of Lenders a non-refundable, recurring Revolving Loan Unused Fee calculated each Lender in accordance with each Lender's Percentage for the period (including any portion thereof when any of its Commitments are suspended by applying reason of Borrower's inability to satisfy any condition of Article V of this Agreement) commencing on the daily equivalent of an annual Unused Fee Rate determined pursuant to Closing Date and continuing through the table set forth in Section 4.6 to the Unused Revolving Loan Commitment on Termination Date, an unused fee calculated as follows: (i) for each day during the period from applicable Fiscal Quarter that the Effective Date to Aggregate Revolver Outstanding Balance is less than 50% of the Revolving Loan Maturity Date. The Unused Commitment, an unused fee at a rate per annum equal to 0.30% multiplied by the sum of the unused portion of the Revolving Loan Commitment on any day shall be the difference between (i) the amount of the Aggregate Revolving Loan Commitment and (ii) the sum of (a) the Aggregate Revolving Loan, and (b) the face amount of all outstanding Letters of Credit and (c) without duplication of clause (b), the total of all amounts drawn on the outstanding Letters of Credit but not reimbursed to the Letter of Credit Issuer by Borrower as of the close of business Amount on such day, but excluding in all cases or (ii) for each day during the Swingline Loan. The applicable Fiscal Quarter that the Aggregate Revolver Outstanding Balance is equal to or greater than 50% of the Revolving Loan Unused Fee Commitment, an unused fee at a rate per annum equal to 0.20% multiplied by the sum of the unused portion of the Revolving Loan Commitment Amount on such day. All unused fees payable pursuant to this Section shall be calculated on a year comprised of 360 days and payable quarterly by the Borrower in arrears on each Quarterly Payment Date, commencing on the last day of with the first calendar quarter ending after Quarterly Payment Date following the Effective Date and continuing on the last day of each calendar quarter thereafter Closing Date, and on the Revolving Loan Maturity Commitment Termination Date. The Unused Fee Rate Notwithstanding anything to the contrary in this Section 3.4.1, Borrower shall not be obligated to pay any of the foregoing fees to a Defaulting Lender that would otherwise have been payable to such Lender for the time period during which such Lender shall have been a Defaulting Lender; provided, however, each Lender's Percentage shall be determined from adjusted, as applicable, to account for any Non-Defaulting Lender who funds additional amounts to Borrower in lieu of any amounts not funded by a Defaulting Lender so that such Non-Defaulting Lender would receive the chart in Section 4.6 of this Agreement under the heading "Unused Fee Rate." The Unused Fee Rate applicable on the Effective Date shall be Level III. Thereafter, the Borrower's ratio of Funded Indebtedness foregoing fees payable to EBITDA such Defaulting Lender for the four fiscal quarter time period of Borrower most recently ended will be calculated and applied to determine during which the applicable Unused Fee Rate in the same manner used for determination of the applicable Base Rate Revolving Margin, and Eurodollar Revolving Margin as described in Section 4.6Lender Default existed.
Appears in 1 contract
Samples: Senior Unsecured Credit Agreement (Strategic Hotels & Resorts, Inc)
Revolving Loan Unused Fee. Borrower shall pay to Administrative Agent for the account of Lenders a non-refundable, recurring Revolving Loan Unused Fee calculated by applying the daily equivalent of an annual Unused Fee Rate determined pursuant to the table set forth in Section 4.6 to the Unused Revolving Loan Commitment on each day during the period from the Effective Date to the Revolving Loan Maturity Date. The Unused Revolving Loan Commitment on any day shall be the difference between (i) the amount of the Aggregate Revolving Loan Commitment and (ii) the sum of (a) the Aggregate Revolving Loan, and (b) the face amount of all outstanding Letters of Credit and (c) without duplication of clause (b), the total of all amounts drawn on the outstanding Letters of Credit but not reimbursed to the Letter of Credit Issuer by Borrower as of the close of business on such day, but excluding in all cases the Swingline Loan. The Revolving Loan Unused Fee shall be payable quarterly in arrears commencing on the last day of the first calendar quarter ending after the Effective Date and continuing on the last day of each calendar quarter thereafter and on the Revolving Loan Maturity Date. The Unused Fee Rate shall be determined from the chart in Section 4.6 of this Agreement under the heading "“Unused Fee Rate." ” The Unused Fee Rate applicable on the Effective Date shall be Level IIIII through the computation date (as set forth in the next sentence) for the January 31, 2006 Financial Statements and Compliance Certificate. Thereafter, the Borrower's ’s ratio of Total Funded Indebtedness to EBITDA for the four fiscal quarter period of Borrower most recently ended will be calculated and applied to determine the applicable Unused Fee Rate in the same manner used for determination of the applicable Base Rate Revolving Margin, and Eurodollar Revolving LIBOR Margin as described in Section 4.6.
Appears in 1 contract
Revolving Loan Unused Fee. Borrower shall agrees to pay to Administrative Agent each Fiscal Quarter for the account of Lenders a non-refundable, recurring Revolving Loan Unused Fee calculated each Lender in accordance with each Lender’s Percentage for the period (including any portion thereof when any of its Commitments are suspended by applying reason of Borrower’s inability to satisfy any condition of Article V of this Agreement) commencing on the daily equivalent of an annual Unused Fee Rate determined pursuant to Closing Date and continuing through the table set forth in Section 4.6 to the Unused Revolving Loan Commitment on Termination Date, an unused fee calculated as follows: (i) for each day during the period from applicable Fiscal Quarter that the Effective Date to Aggregate Outstanding Balance is less than 50% of the Revolving Loan Maturity Date. The Unused Revolving Loan Commitment on any day shall be Commitment, an unused fee at a rate per annum equal to 0.45% multiplied by the difference between (i) the amount unused portion of the Aggregate Revolving Loan Commitment and on such day or (ii) for each day during the sum of (a) applicable Fiscal Quarter that the Aggregate Revolving Loan, and (b) the face amount of all outstanding Letters of Credit and (c) without duplication of clause (b), the total of all amounts drawn on the outstanding Letters of Credit but not reimbursed Outstanding Balance is equal to the Letter of Credit Issuer by Borrower as or greater than 50% of the close Revolving Loan Commitment, an unused fee at a rate per annum equal to 0.25% multiplied by the unused portion of business the Aggregate Commitment on such day, but excluding in all cases the Swingline Loan. The Revolving Loan Unused Fee All unused fees payable pursuant to this Section shall be calculated on a year comprised of 360 days and payable quarterly by the Borrower in arrears on each Quarterly Payment Date, commencing on the last day of with the first calendar quarter ending after Quarterly Payment Date following the Effective Date and continuing on the last day of each calendar quarter thereafter Closing Date, and on the Revolving Loan Maturity Commitment Termination Date. The Unused Fee Rate Notwithstanding anything to the contrary in this Section 3.4.1, Borrower shall not be obligated to pay any of the foregoing fees to a Defaulting Lender that would otherwise have been payable to such Lender for the time period during which such Lender shall have been a Defaulting Lender; provided, however, each Lender’s Percentage shall be determined from adjusted, as applicable, to account for any Non-Defaulting Lender who funds additional amounts to Borrower in lieu of any amounts not funded by a Defaulting Lender so that such Non-Defaulting Lender would receive the chart in Section 4.6 of this Agreement under the heading "Unused Fee Rate." The Unused Fee Rate applicable on the Effective Date shall be Level III. Thereafter, the Borrower's ratio of Funded Indebtedness foregoing fees payable to EBITDA such Defaulting Lender for the four fiscal quarter time period of Borrower most recently ended will be calculated and applied to determine during which the applicable Unused Fee Rate in the same manner used for determination of the applicable Base Rate Revolving Margin, and Eurodollar Revolving Margin as described in Section 4.6Lender Default existed.
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