Common use of Undrawn Fee Clause in Contracts

Undrawn Fee. Borrower shall pay each Lender an undrawn fee (the “Undrawn Fee”), which shall accrue on a daily basis on such Lender’s outstanding Commitment from the Closing Date through the last date of the Availability Period at a rate equal to the Undrawn Fee Percentage (regardless of whether the conditions set forth in Article 4 are met on any such day), calculated on the basis of the actual days elapsed and a year of 360 days, and shall be payable quarterly in arrears on each Interest Payment Date in Cash.

Undrawn Fee. Borrower shall pay each Lender an undrawn fee (the “Undrawn Fee”), which shall accrue on a daily basis on such Lender’s outstanding Commitment from the Original Closing Date through the last date of the Availability Period at a rate equal to the Undrawn Fee Percentage (regardless of whether the conditions set forth in Article 4 are met on any such day), calculated on the basis of the actual days elapsed and a year of 360 days, and shall be payable quarterly in arrears on each Interest Payment Date in Cash.