Undrawn Commitment Fee. The Company agrees to pay to the each Lender based on such Xxxxxx’s Pro Rata Share an undrawn commitment fee in U.S. Dollars, which shall accrue at the Undrawn Commitment Fee Rate on the daily unused amount of the Commitment of such Lender during the period from the Effective Date to the DDTL Commitment Expiration Date; provided, that any undrawn commitment fee accrued with respect to any of the unused Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall be payable by the Company so long as such undrawn commitment fee shall otherwise have been due and payable by the Company prior to such time of such Lender becoming a Defaulting Lender. Undrawn commitment fees shall be payable in arrears on the last day of each Fiscal Quarter and on the DDTL Commitment Expiration Date for any period then ending for which such undrawn commitment fees shall not have previously been paid, at election of the Company in its sole discretion either (x) in cash or (y) in kind by capitalizing such fees and increasing the outstanding principal amount of Loans by the amount of fees accrued in respect of such Loans during the applicable period (“PIK Fees”). The unused commitment fee shall be computed for the actual number of days elapsed on the basis of a year of 365/366 days. For purposes of computing commitment fees, a Commitment of a Lender shall be deemed to be used to the extent of the outstanding Loans funded by such Lender other than any Loans attributable to PIK Interest and PIK Fees.
Undrawn Commitment Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Pro Rata Share, an undrawn commitment fee which shall accrue at the applicable Undrawn Commitment Fee Rate then in effect on the daily amount of the undrawn Commitment of such Lender during the period from and including the date that is 60 days after the Effective Date and shall be payable quarterly in arrears on the fifth Business Day.
Undrawn Commitment Fee. The Borrower shall pay to the Administrative Agent for the ratable account of the Lenders in accordance with their Applicable Percentage, an undrawn commitment fee at the rate per annum equal to the Applicable Margin on the actual daily Commitments of such Lender then outstanding. Such fee shall accrue from and including the later of (i) the date that is 90 days following the date of the Bridge Commitment Letter and (ii) the Effective Date, to but excluding the earlier of (x) termination or expiration of the Commitments and (y) the Closing Date (such earlier date, the “Fee Payment Date”). Such fee shall be due and payable on the Fee Payment Date and shall be calculated based on the number of days (if any) elapsed in a 360-day year. RATINGS (S&P/XXXXX’X) APPLICABLE RATE FOR UNDRAWN COMMITMENT FEE SHALL BE: Greater than or equal to A-/A3 0.09% RATINGS (S&P/XXXXX’X) APPLICABLE RATE FOR UNDRAWN COMMITMENT FEE SHALL BE: BBB+/Baa1 0.11 % BBB/Baa2 0.125 % BBB-/Baa3 0.175 % Less than BBB-/Baa3 0.225 %
Undrawn Commitment Fee. The Borrowers shall pay to the Administrative Agent for the account of the Lenders an Undrawn Commitment Fee calculated as follows:
(a) The Undrawn Commitment Fee shall be payable on the amount by which the Commitment Amount shall exceed the average principal amount of Advances outstanding under the Commitment during such calendar month.
(b) For all months during which the interest on the Advances shall be calculated on the basis of Pricing Tier 1 or Pricing Tier 2, the rate at which such Undrawn Commitment Fee shall be calculated shall be an annualized amount equal to ten basis points (i.e. 0.10%). For all months during which the interest on the Advances shall be calculated on the basis of Pricing Tier 3, the rate at which such Undrawn Commitment Fee shall be calculated shall be an annualized amount equal to fifteen basis points (i.e. 0.15%). For all months during which the interest on the Advances shall be calculated on the basis of Pricing Tier 4, the rate at which such Undrawn Commitment Fee shall be calculated shall be an annualized amount equal to twenty basis points (i.e. 0.20%). For all months during which the interest on the Advances shall be calculated on the basis of Pricing Tier 5 or the Default Rate, the rate at which such Undrawn Commitment Fee shall be calculated shall be an annualized amount equal to twenty-five basis points (i.e. 0.25%). The calculation shall be performed on the basis of a three hundred sixty (360) day year for actual days elapsed.
(c) The Undrawn Commitment Fee shall be calculated on a monthly basis but shall be payable quarterly in arrears on the Interest Payment Dates in February, May, August, and November.
Undrawn Commitment Fee. The Borrower shall pay to the Administrative Agent for the ratable account of the Lenders in accordance with their Applicable Percentage, an undrawn commitment fee at the rate per annum equal to the Applicable Margin on the actual daily Commitments of such Lender then outstanding. Such fee shall accrue from and including the Effective Date to but excluding the earlier of (i) termination or expiration of the Commitments and (ii) the Closing Date (such earlier date, the “Fee Payment Date”). Such fee shall be due and payable on the Fee Payment Date and shall be calculated based on the number of days (if any) elapsed in a 360-day year.
Undrawn Commitment Fee. At the Closing, the Company shall have paid the Purchasers a fee of $1,800,000, which fee, the Purchasers hereby consent and agree, will be allocated among the Purchasers PRO RATA according to the number of shares of Preferred Stock purchased by each such Purchaser at the Closing hereunder.
Undrawn Commitment Fee. Accruing from the Closing Date until the Maturity Date, Borrower shall pay Lender a monthly undrawn commitment fee (the “Undrawn Commitment Fee”) equal to 0.10% multiplied by the average daily difference between the Loan Commitment and the aggregate of outstanding Loans. The Undrawn Commitment Fee shall accrue quarterly on the last day of each applicable fiscal quarter, and shall be payable as set forth in Section 2.1. The Undrawn Commitment Fee shall be payable in cash, shares of Preferred Stock or a combination thereof, at the option of Lender. Subject to Section 2.14(d) below, the number of shares of Preferred Stock issued pursuant to this Section 2.7 shall be determined by dividing the amount of the Undrawn Commitment Fee by the Interest Conversion Price (rounded up to the next whole share).
Undrawn Commitment Fee. The Borrower shall pay to the Agent for the account of each Bank in accordance with its Pro Rata Share, an undrawn commitment fee which shall accrue at the rate of 0.15% per annum on the daily amount of the undrawn Commitment of such Bank during the period from and including the Effective Date to but excluding the Commitment Termination Date. Accrued fees shall be payable quarterly in arrears on the last day of each February, May, August and November prior to the Commitment Termination Date and on the Commitment Termination Date.
Undrawn Commitment Fee. The Borrower agrees to pay to the Agent for the account of each Lender an undrawn commitment fee on the average daily unused amount of such Lender’s Commitment from the Effective Date in the case of each Initial Lender, and from the later of the Effective Date and the effective date specified in the Assignment and Acceptance or Accession Agreement, as applicable, pursuant to which it became a Lender in the case of each other Lender, until the Commitment Termination Date, at a rate per annum equal to the Applicable Percentage in effect from time to time, payable in arrears on December 31, 2013 and on the Commitment Termination Date.
Undrawn Commitment Fee. From and after the Initial Closing Date until the earlier to occur of (a) the Outside Date and (b) the applicable Drawdown Closing Date, if any, at which the Purchaser acquires Drawdown Shares representing the full Maximum Commitment Amount, the Company agrees to pay to the Purchaser a fee on the Remaining Commitment (the “Commitment Fee”) at a rate equal to 0.25% per annum, accruing daily and payable in arrears on each Drawdown Closing Date and, if applicable, the Outside Date. The “Remaining Commitment” shall mean an amount equal to (1) $50,000,000 minus (2) the product obtained by multiplying the Purchase Price by (i) 50,000 minus (ii) the number of Drawdown Shares sold to the Purchaser pursuant to this Agreement. On the Outside Date, if applicable (or, if such day is not a business day, the next succeeding business day), the Company will deliver or cause to be delivered to a bank account designated by the Purchaser in writing at least two (2) business days prior to the Outside Date, any accrued and unpaid Commitment Fees by wire transfer of immediately available funds.
