The Facility Fee Sample Clauses
The Facility Fee clause defines the charges imposed for the use of a particular facility or service provided under an agreement. Typically, this fee is a fixed or periodic payment required from the user, and it may cover access, maintenance, or operational costs associated with the facility. By clearly outlining the fee structure and payment obligations, this clause ensures transparency in financial expectations and helps prevent disputes over usage costs.
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The Facility Fee. In consideration of the Loan, from and after the date of this Agreement up to and including the Availability Date, the Borrower shall pay the Lender a facility fee of one-half of one percent (0.5%) on the average daily Borrowing Availability during each fiscal quarter or portion thereof. This facility fee shall be payable, without demand, on the last day of each March, June, September and December, commencing June 30, 1996. The Borrower shall make payment of the facility fee by wire transfer, certified check or by authorizing the Lender to withdraw readily available funds from the Operating Account.
The Facility Fee. The Borrower will pay the Bank a facility fee on the Effective Date in the amount of $100,000.00 (the "Facility Fee"), which Facility Fee shall be fully-earned and non-refundable upon payment.
The Facility Fee. The Borrower agrees to pay a fee (the “Facility Fee”) to the Lender in respect of the Loan. The Facility Fee for the Loan shall be equal to 0.75% times the amount of the Loan ultimately drawn by the Borrower, and the amount of the Facility Fee to be paid by the Borrower in respect of each Tranche shall be deemed to have been earned by the Lender as of the applicable Borrowing Date for such Tranche. The Facility Fee shall be paid to the Lender in five (5) annual installments in accordance with the following schedule: Borrowing Date for the first Tranche One-fifth (1/5) of the amount of the Facility Fee earned by the Lender and outstanding First anniversary of the Borrowing Date for the first Tranche One-fourth (1/4) of the amount of the Facility Fee earned by the Lender and outstanding Second anniversary of the Borrowing Date for the first Tranche One-third (1/3) of the amount of the Facility Fee earned by the Lender and outstanding Third anniversary of the Borrowing Date for the first Tranche One-half (1/2) of the amount of the Facility Fee earned by the Lender and outstanding Fourth anniversary of the Borrowing Date for the first Tranche All remaining amounts of the Facility Fee earned by the Lender and outstanding Provided, however, that (i) the amount of the Facility Fee deemed to have been earned on the Borrowing Date for the first Tranche shall be reduced by $75,000, which amount represents the amount of the fee paid by the Borrower to Bank of Scotland in connection with the Outline Terms and Conditions, dated as of January 5, 2005, by and between the Borrower and Bank of Scotland New York Branch, and (ii) any amount of the Facility Fee subsequently deemed to have been earned shall be reduced by the amount of the Commitment Fee paid or payable with respect to such amount.