Unused Availability Fee Sample Clauses

Unused Availability Fee. For the period from the Closing Date to the Termination Date, Borrower and Co-Borrower jointly and severally agree to pay to Lender a fee (the “Unused Availability Fee”) equal to 0.5% multiplied by the amount by which the Revolving Loan Commitment exceeds the average daily Revolving Loans outstanding plus the aggregate Stated Amount of all outstanding Letters of Credit. The Unused Availability Fee shall be payable in arrears on the first day of each calendar quarter and on the Termination Date for any period then ending for which the Unused Availability Fee shall not have previously been paid. The Unused Availability Fee shall be computed by Lender for the actual number of days elapsed on the basis of a year of 360 days.

Unused Availability Fee. At the end of each fiscal quarter of the Borrowers, and on the Termination Date, the Borrowers shall pay to the Agent, in arrears, for the ratable benefit of the Lenders, a facility fee equal to twelve and one-half (12.5) basis points (.125%) of the first $10,000,000 of the daily unused portion of the Credit Facility for the previous quarter, and twenty-five (25) basis points (.25%) of the remaining average daily unused portion of the Credit Facility for the previous quarter. For purposes of the calculation of this fee, outstanding L/C obligations will be treated as outstanding Loans.

Unused Availability Fee. In addition to interest and all other amounts due and payable pursuant to the terms of this Agreement and the Note, Borrower agrees to pay to Lender an unused facility fee on the unused portion of the Commitment Limit (the "unused portion" being the amount by which the maximum dollar amount of the Note (initially, $20,000,000) exceeds the outstanding principal balance of the Note) from the Effective Date through the Maturity Date, at the rate of 0.25% per annum, accrued daily and payable for each three (3) calendar month period (each calendar quarter), in arrears, fifteen (15) days after the last day of each calendar quarter, with the exception that the first payment relating to the period ending on February 29, 2012 shall be due on upon execution of Amendment # 1 to the Loan Agreement. The amount of the unused facility fee shall be calculated each day during the period for which the fee is due using an assumed 360 day year. (d) A new Paragraph (g) shall be added to Section 6.1 of the Existing Loan Agreement that reads as follows:

Unused Availability Fee. Borrower shall pay to Lender an unused availability fee, which shall be payable in arrears on the first Business Day of each calendar month hereafter. The unused availability fee shall equal one-quarter of one percent (1/4%) per annum of the amount by which the Revolving Credit Limit exceeds the average daily amount of the Revolving Credit Loans outstanding during the immediately preceding month; provided however that until such time as the aggregate outstanding balance of all Revolving Credit Loans exceeds $4,000,000, the unused availability fee shall be calculated based on the amount during each month by which Four Million Dollars ($4,000,000) exceeds the average daily amount of the Revolving Credit Loans outstanding during such month. Such fee shall be pro-rated for any month during which this Agreement is in effect for less than a full month.

Unused Availability Fee. Borrowers shall pay to Agent, for the ratable benefit of Lenders, an Unused Availability Fee (“Unused Availability Fee”), which shall be payable in arrears on the first Business Day of each calendar month hereafter. Subject to implementation of any rate change as provided in the definition of Applicable Margin, the Unused Availability Fee shall (i) for the six (6) month period immediately following the Closing Date equal one-quarter of one percent (.25%) per annum of the amount by which the Revolving Credit Limit exceeds the average daily amount of the Revolving Credit Loans outstanding plus the LC Amount during the immediately preceding month and (ii) at all times following the six (6) month period following the Closing Date, a per annum rate as set forth under the column “Unused Availability Fee” in the definition of Applicable Margin of the amount by which the Revolving Credit Limit exceeds the average daily amount of the Revolving Credit Loans outstanding plus the LC Amount during the immediately preceding month.

Unused Availability Fee. At the end of each fiscal quarter of the Borrowers, and on the Termination Date, the Borrowers shall pay to the Agent, in arrears, for the ratable benefit of the Lenders, a facility fee equal to the Applicable Margin per annum on the daily unused portion of the Credit Facility for the previous quarter. For purposes of the calculation of this fee, outstanding L/C obligations will be treated as outstanding Loans.” (i) Effective as of the effective date of this Agreement, Section 9.1 of the Credit Agreement is hereby deleted, and the following is inserted in lieu thereof: From and including September 30, 2009, through the Scheduled Maturity Date, as measured at the end of each of the Borrowers’ fiscal quarters, maintain a combined Tangible Net Worth of not less than $47,000,000; provided, however, that (a) in the event that, during fiscal year 2011, the Borrowers make a goodwill payment in connection with its purchase of the non-cash assets and business of TerraWave Solutions, Ltd, and/or Giga Wave Technologies Limited, commencing on first measurement date following such payment, the Borrowers’ minimum Tangible Net Worth requirement shall be reduced by the lesser of the amount of such payment or $3,000,000; and (b) commencing on March 31, 2012, the Borrower’s minimum Tangible Net Worth requirement shall be increased by an amount equal to fifty percent (50%) of the Borrowers’ combined net income after applicable taxes for the year ending March 31, 2012. (j) Effective as of the effective date of this Agreement, Sections 9.4 and 9.5 of the Credit Agreement are hereby deleted, and the following is inserted in lieu thereof:

Unused Availability Fee. The Borrowers jointly and severally agree to pay to the Bank an unused availability fee calculated at the rate of 1/2% per annum on the average daily amount during each calendar month or portion thereof from the Closing Date to the Line Termination Date by which the Line Cap exceeds the outstanding amount of Loans during such calendar month. The unused availability fee shall be payable monthly in arrears on the first day of each calendar month for the immediately preceding calendar month commencing on February 1, 1996, with a final payment on the Line Termination Date or any earlier date on which the Loans shall become due and payable in full.

Unused Availability Fee. Borrower shall pay to Lender an unused availability fee, which shall be payable in arrears on the last day of each calendar month hereafter. The unused availability fee shall equal one-quarter of one percent (1/4%) per annum on the average daily amount during each month by which the Total Credit Facility exceeds the aggregate amount of the Loans outstanding as of the close of business on such day. Such fee shall be pro-rated for any month during which this Agreement is in effect for less than a full month.

Unused Availability Fee. As of each March 31, June 30, September 30 and December 31 during the term of this Agreement (commencing with March 31, 1996), the Lender shall compute the average daily principal balance of the Facility A Loans for the 90-day period which immediately precedes such designated date of computation. If such average daily balance is less than $7,500,000, the Borrower shall immediately pay to the Lender an amount equal to (a) 0.375%, multiplied by the amount by which $15,000,000 exceeds the average daily principal balance of the Facility A Loans for such 90-day period, divided by (b) four (4). In the event of any acceleration or termination of the Facility A Loan, this fee shall be due and payable on the date of such acceleration or termination.