Tranche B Loan Commitment Fee Sample Clauses
The Tranche B Loan commitment fee clause defines the fee that a borrower must pay to the lender for the unused portion of the Tranche B loan commitment. Typically, this fee is calculated as a percentage of the undrawn amount and is paid periodically, such as quarterly or monthly, until the loan is fully drawn or the commitment period ends. The core function of this clause is to compensate the lender for reserving funds for the borrower, even if the borrower does not utilize the entire loan amount, thereby incentivizing efficient use of the committed capital and covering the lender's opportunity cost.
Tranche B Loan Commitment Fee. (a) The Borrowers must pay to the Facility Agent for each Lender a commitment fee computed at the rate of 0.2 per cent. per annum on the undrawn, uncancelled amount of each Lender’s Tranche B Commitment.
(b) The commitment fee accrues from the date of this Agreement to and including the last day of the Availability Period and is payable quarterly in arrear and on the last day of the Availability Period. Accrued commitment fee is also payable to the Facility Agent for a Lender on the date its Tranche B Commitment is cancelled in full.
Tranche B Loan Commitment Fee. During the Tranche B Revolving Period, Borrower shall pay to the Banks an unused commitment fee on the average daily difference between the Tranche B Borrowing Base then in effect and the aggregate outstanding principal amounts under the Tranche B Notes (including, without limitation, the face amounts of any letters of credit issued pursuant to paragraph 3), at the following annual rates, payable quarterly in arrears, commencing June 30, 1996 (for the period from April 1, 1996 through June 30, 1996) and ending on the later of May 1, 1997, or the date to which the Tranche B Loan is extended pursuant to subparagraph 2(a)(ii)(C):
(1) When Borrower's Debt to Capitalization Ratio is less than 50% at all times during such quarter: 1/8 of 1 percent per annum.
(2) When Borrower's Debt to Capitalization Ratio is equal to or greater than 50% at any time during such calendar quarter: 3/8 of 1 percent per annum. For the purposes of this subparagraph 2(h)(iii), any increase in the Tranche B Borrowing Base pursuant to subparagraph 5(e) shall be effective as of the first day of the calendar quarter in which Borrower elects to increase the Tranche B Borrowing Base, and any decrease in the Tranche B Borrowing Base pursuant to subparagraph 5(e) shall be effective as of the date the Agent actually receives notice from Borrower of such reduction.
Tranche B Loan Commitment Fee. In consideration of Lenders' commitment to enter into this Agreement and to advance funds to Borrower as Tranche B Loans, Borrower will pay to Agent, for pro rata distribution to each Lender in accordance with its Percentage Share, a commitment fee determined on a daily basis by applying the Tranche B Commitment Fee Rate to such Lender's Percentage Share of the unused portion of the Tranche B Borrowing Base on each day during the Tranche B Revolving Period, determined for each such day by deducting from the amount of the Borrowing Base at the end of such day the Tranche B Facility Usage. Promptly at the end of each Fiscal Quarter and at the end of the Tranche B Revolving Period, Agent shall calculate the commitment fee then due and shall notify Borrower thereof. Borrower shall pay such commitment fee to Agent within five Business Days after receiving such notice. As used in this section, "Tranche B Commitment Fee Rate" means: (i) when the Debt to Capitalization Ratio in effect hereunder is less than 0.50 to 1.0, 0.125% per annum;
Tranche B Loan Commitment Fee. Section 2.5(c)(i) of the ------------------------------ Original Agreement is hereby deleted in its entirety and replaced with the following:
(i) when the Debt to Capitalization Ratio in effect hereunder is less than 0.50 to 1.0, 0.25% per annum;"