Common use of Ticking Fee Clause in Contracts

Ticking Fee. The Borrower agrees to pay to the Administrative Agent for the account of each Lender a non-refundable ticking fee of 0.200% from and after the date which is 90 days after the Execution Date to, but excluding, the earlier of the Closing Date and the termination of the Commitments on the average daily amount of the Commitment of such Lender during the period for which payment is

Appears in 3 contracts

Sources: Revolving Credit Agreement, Revolving Credit Agreement (MPLX Lp), Revolving Credit Agreement (Marathon Petroleum Corp)

Ticking Fee. The Borrower agrees to shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage, a non-refundable ticking fee of 0.200equal to 0.375% from and after per annum times the date which is 90 days after the Execution Date to, but excluding, the earlier of the Closing Date and the termination of the Commitments on the average actual daily amount of the Commitment Commitments. The ticking fee shall accrue from the date that is ninety days after the Effective Date until the Funding Date and shall be due and payable on the earlier of such Lender during (i) the period for which payment isdate this Agreement and the Commitments are terminated without funding of the Loans and (ii) the Funding Date.

Appears in 2 contracts

Sources: Credit Agreement (Valvoline Inc), Credit Agreement (Ashland Inc.)

Ticking Fee. The Borrower agrees to shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage a non-refundable ticking fee (the “Ticking Fee”) equal to 0.125% per annum on the amount of 0.200% such ▇▇▇▇▇▇’s unfunded and available Commitment. The Ticking Fee shall accrue from and after the date which day that is 90 ninety (90) days after the Execution Effective Date to, but excluding, to the earlier of (i) the Closing Date date the Loans are funded and (ii) the date of termination or expiration of the Commitments Aggregate Commitments, and shall be payable on the average daily amount of the Commitment of such Lender during the period for which payment isearlier date.

Appears in 1 contract

Sources: Term Loan Agreement (Darden Restaurants Inc)

Ticking Fee. The Borrower agrees to shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage a non-refundable ticking fee (the “Ticking Fee”) equal to 0.125% per annum on the amount of 0.200% such ▇▇▇▇▇▇’s unfunded and available Commitment. The Ticking Fee shall accrue from and after the date which day that is 90 thirty (30) days after the Execution Effective Date to, but excluding, to the earlier of (i) the Closing Date date the Loans are funded and (ii) the date of termination or expiration of the Commitments Aggregate Commitments, and shall be payable on the average daily amount of the Commitment of such Lender during the period for which payment isearlier date.

Appears in 1 contract

Sources: Term Loan Agreement (Darden Restaurants Inc)