Unused Commitment Fee. Subject to Section 1.11(e), the Borrower shall pay to the Revolver Agent a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender in an amount equal to: (i) the daily balance of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quarter, less (ii) the sum of (x) the daily balance of all Revolving Loans held by such Revolving Lender plus (y) the daily amount of Letter of Credit Obligations held by such Revolving Lender, plus (z) in the case of the Swingline Lender, the daily balance of all outstanding Swing Loans held by such Swingline Lender, in each case, during the preceding calendar quarter; provided, in no event shall the amount computed pursuant to clauses (i) and (ii) with respect to the Swingline Lender be less than zero, (iii) multiplied by one half of one percent (0.5%) per annum. The total Unused Commitment Fee paid by the Borrower will be equal to the sum of all of the Unused Commitment Fees due to the Lenders, subject to Section 1.11(e)(vi). Such fee shall be payable quarterly in arrears on the first day of each calendar quarter following the date hereof. The Unused Commitment Fee provided in this Section 1.9(b) shall accrue at all times from and after the execution and delivery of this Agreement.
Appears in 2 contracts
Sources: Credit Agreement (Truck Hero, Inc.), Credit Agreement (TA THI Parent, Inc.)
Unused Commitment Fee. Subject to Section 1.11(e), the The Borrower shall pay to the Revolver Agent a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender (other than Non-Funding Lenders) in an amount equal to:
(i) the daily balance of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quarter, less
(ii) less the sum of (x) the daily balance of all Revolving Loans held by such Revolving Lender plus (y) the daily amount of Letter of Credit Obligations held by such Revolving Lender, plus (z) in the case of the Swingline Lender, the daily balance of all outstanding Swing Loans held by such Swingline Lender, in each case, during the preceding calendar quarter; provided, in no event shall the amount computed pursuant to clauses (i) and ,
(ii) multiplied by the Applicable Margin with respect to the Swingline Lender be less than zero,
(iii) multiplied by one half of one percent (0.5%) per annumUnused Commitment Fee then in effect. The total Unused Commitment Fee paid by the Borrower will be equal to the sum of all of the Unused Commitment Fees due to the respective Lenders, in each case, subject to Section 1.11(e)(vi). Such fee Unused Commitment Fees shall be payable quarterly in arrears on the first day last Business Day of each calendar quarter following commencing with the date hereofcalendar quarter ending on or about September 30, 2017. The Unused Commitment Fee Fees provided in this Section 1.9(b) shall accrue at all times from and after the execution and delivery of this Agreement. For purposes of this Section 1.9(b), the Revolving Loan Commitment of any Non-Funding Lender shall be deemed to be zero, except to the extent such Revolving Loan Commitment shall have been reallocated to another Revolving Lender pursuant to and in accordance with this Agreement.
Appears in 2 contracts
Sources: Credit Agreement (Lulu's Fashion Lounge Holdings, Inc.), Credit Agreement (Lulu's Fashion Lounge Holdings, Inc.)
Unused Commitment Fee. Subject to Section 1.11(e)On the first Business Day of each calendar quarter and on and until the date upon which the Obligations are paid in full, the Borrower Borrowers shall pay to the Revolver Agent a in arrears an unused commitment fee (the “Unused Commitment Fee”) for the account of each Revolving Lender in an amount equal to:
: (i) the excess of (A) the average daily balance of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quarter, less
quarter over (iiB) the sum of (x1) the average daily balance of all Revolving Loans held by such Revolving Lender plus Lender, (y2) the average daily amount of Letter of Credit Obligations held by such Revolving Lender, plus and (z3) in the case of the Swingline Lender, the average daily balance of all outstanding Swing Loans held by such Swingline Lender, in each case, during the preceding calendar quarter; provided, that in no event shall the amount computed pursuant to clauses (i1) and (ii2) above with respect to the Swingline Lender be less than zero,
(iii) , multiplied by one half (ii) (A) if the average daily balance of one percent the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is equal to or greater than 50% of the average daily Maximum Availability during the preceding calendar quarter, then 0.25% per annum or (0.5%B) if the average daily balance of the aggregate of all outstanding Revolving Loans, Letter of Credit Obligations and Swing Loans is less than 50% of the average daily Maximum Availability during the preceding calendar quarter, then 0.50% per annum. The total Unused Commitment Fee paid Fees payable by the Borrower Borrowers on each such date will be equal to the sum of all of the Unused Commitment Fees due to the LendersLenders on such date, subject to Section 1.11(e)(vi1.18(f). Such fee shall be payable quarterly in arrears on the first day of each calendar quarter following the date hereof. The Unused Commitment Fee provided in this Section 1.9(b) shall accrue at all times from and after the execution and delivery of this Agreement.
Appears in 2 contracts
Sources: Credit Agreement (Jakks Pacific Inc), Credit Agreement (Jakks Pacific Inc)
Unused Commitment Fee. Subject to Section 1.11(e), the Borrower The Borrowers shall pay to the Revolver Agent Agent, for the ratable benefit of the Revolving Lenders, a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender in an amount equal to:
(i) the daily balance of the Aggregate Revolving Loan Commitment of such Revolving Lender during the preceding calendar quarterCommitment, less
(ii) the sum of (x) the average daily principal balance of all Revolving Loans held by such Revolving Lender outstanding plus (y) the average daily amount of Letter of Credit Obligations held by such Revolving Lender, plus (z) in the case of the Swingline Lender, the average daily principal balance of all outstanding Swing Loans held by such Swingline LenderLoans, in each case, during the preceding calendar quarter; providedmonth (the sum of (x), in no event shall the amount computed pursuant to clauses (iy) and (ii) with respect to z), the Swingline Lender be less than zero,
(iii) “Average Daily Revolving Amount”), multiplied by one half the Applicable Commitment Fee Percentage calculated as of one percent (0.5%) per annumthe last day of such preceding month. The total Unused Commitment Fee fee paid by the Borrower Borrowers will be equal to the sum of all of the Unused Commitment Fees fees due to the Lenders, subject to Section subsection 1.11(e)(vi). Such fee shall be payable quarterly monthly in arrears on the first day of each calendar quarter the month following the date hereofhereof and the first day of each month thereafter. The Unused Commitment Fee provided in this Section subsection 1.9(b) shall accrue at all times from and after the mutual execution and delivery of this Agreement. For purposes of this subsection 1.9(b), the Revolving Loan Commitment of any Non-Funding Lender pursuant to clause (a) of the definition thereof shall be deemed to be zero.
Appears in 1 contract
Unused Commitment Fee. Subject to Section 1.11(e), the Borrower The Borrowers shall pay to the Revolver Agent a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender in an amount equal to:
(i) the average daily balance balances of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quartermonth, less
(ii) the sum of (x) the average daily balance of all Revolving Loans held by such Revolving Lender plus (y) the average daily amount of Letter of Credit Obligations held by such Revolving Lender, plus (z) in the case of the Swingline Lender, the average daily balance of all outstanding Swing Loans held by such Swingline Lender, in each case, during the preceding calendar quartermonth; provided, in no event shall the amount computed pursuant to clauses (i) and (ii) with respect to the Swingline Lender be less than zero,
(iii) multiplied by one half three eighth’s of one percent (0.50.375%) per annum. The total Unused Commitment Fee fee paid by the Borrower Borrowers will be equal to the sum of all of the Unused Commitment Fees fees due to the Lenders, subject to Section 1.11(e)(vi). Such fee shall be payable quarterly monthly in arrears on the first day of each calendar quarter month following the date hereof. The Unused Commitment Fee provided in this Section 1.9(b) shall accrue at all times from and after the execution and delivery of this Agreement. For purposes of this Section 1.9(b), the Revolving Loan Commitment of any Non-Funding Lender shall be deemed to be zero.
Appears in 1 contract
Sources: Credit Agreement (Landec Corp \Ca\)
Unused Commitment Fee. Subject to Section 1.11(e), the The Borrower shall pay to the Revolver Agent a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender (other than any Non-Funding Lender) in an amount equal to:
(i) the average daily balance of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quarter, less
(ii) the sum of (x) the average daily balance of all Revolving Loans held by such Revolving Lender plus (y) the average daily amount of Letter of Credit Obligations held by such Revolving Lender, plus (z) in the case of the Swingline Lender, the average daily balance of all outstanding Swing Loans held by such Swingline Lender, in each case, during the preceding calendar quarter; provided, in no event shall the amount computed pursuant to clauses (i) and (ii) with respect to the Swingline Lender be less than zero,
(iii) multiplied by one one-half of one percent (0.50.50%) per annum. The total Unused Commitment Fee paid by the Borrower will be equal to the sum of all of the Unused Commitment Fees due to the Lenders, subject to Section subsection 1.11(e)(vi). Such fee shall be payable quarterly in arrears on the first day of each calendar quarter following the date hereofhereof and on the Revolving Termination Date. The Unused Commitment Fee provided in this Section subsection 1.9(b) shall accrue at all times from and after the execution and delivery of this AgreementAgreement through the Revolving Termination Date.
Appears in 1 contract
Sources: Credit Agreement (Affymetrix Inc)
Unused Commitment Fee. Subject to Section 1.11(e), the The Borrower shall pay to the Revolver Agent a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender in an amount equal to:
(i) the average daily balance balances of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quartermonth, less
(ii) the sum of (x) the average daily balance of all Revolving Loans held by such Revolving Lender plus (y) the average daily amount of Letter of Credit Obligations held by such Revolving Lender, plus (z) in the case of the Swingline Lender, the daily balance of all outstanding Swing Loans held by such Swingline Lender, in each case, during the preceding calendar quartermonth; provided, in no event shall the amount computed pursuant to clauses (i) and (ii) with respect to the Swingline Lender be less than zero,
(iii) multiplied by one one-half of one percent (0.5%) per annum. The total Unused Commitment Fee fee paid by the Borrower will be equal to the sum of all of the Unused Commitment Fees fees due to the Lenders, subject to Section subsection 1.11(e)(vi). Such fee shall be payable quarterly monthly in arrears on the first day of each the calendar quarter month following the date hereofhereof and the first day of each calendar month thereafter. The Unused Commitment Fee provided in this Section subsection 1.9(b) shall accrue at all times from and after the execution and delivery of this Agreement. For purposes of this subsection 1.9(b), the Revolving Loan Commitment of any Non-Funding Lender shall be deemed to be zero.
Appears in 1 contract
Sources: Credit Agreement (Solo Cup CO)
Unused Commitment Fee. Subject to Section 1.11(e), the Borrower The Borrowers shall pay to the Revolver Agent a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender in an amount equal to:
: (i) the difference of (A) the average daily balance of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quarter, less
less (iiB) the sum of (x) the average daily balance of all Revolving Loans held by such Revolving Lender during the preceding calendar quarter plus (y) the average daily amount of Letter of Credit Obligations held by such Revolving LenderLender during the preceding calendar quarter, plus (z) in the case of the Swingline Swing Lender, the daily balance of all outstanding Swing Loans held by such Swingline Swing Lender, in each case, during the preceding calendar quarter; provided, provided that in no event shall the amount computed pursuant to clauses (iSection 2.9(b)(i)(A) and (iiSection 2.9(b)(i)(B) with respect to the Swingline Swing Lender be less than zero,
, (iiiii) multiplied by one half quarter of one percent (0.50.25%) per annum. The total Unused Commitment Fee paid by the Borrower Borrowers will be equal to the sum of all of the Unused Commitment Fees due to the Lenders, subject to Section 1.11(e)(vi2.11(e)(vi). Such fee shall be payable quarterly in arrears on the first last day of each calendar quarter following the date hereof. The Unused Commitment Fee provided in this Section 1.9(b) shall accrue at all times from and after the execution and delivery of this AgreementClosing Date.
Appears in 1 contract
Sources: Credit Agreement (Phreesia, Inc.)
Unused Commitment Fee. Subject to Section 1.11(e), the Borrower The Borrowers shall pay to the Revolver Agent a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender in an amount equal to:
(i) the daily balance of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quarter, less
(ii) the sum of (x) the daily balance of all Revolving Loans held by such Revolving Lender plus (y) the daily amount of Letter of Credit Obligations held by such Revolving Lender, plus (z) in the case of the Swingline Swing Lender, the daily balance of all outstanding Swing Loans held by such Swingline Swing Lender, in each case, during the preceding calendar quarter; provided, in no event shall the amount computed pursuant to clauses (i) and (ii) with respect to the Swingline Swing Lender be less than zero,
(iii) multiplied by one half of one percent (0.5%) the Applicable Unused Commitment Fee per annum. The total Unused Commitment Fee paid by the Borrower Borrowers will be equal to the sum of all of the Unused Commitment Fees due to the Lenders, subject to Section 1.11(e)(vi2.11(e)(vi). Such fee shall be payable quarterly in arrears on the first day last Business Day of each calendar quarter following the date hereof. The Unused Commitment Fee provided in this Section 1.9(b2.9(b) shall accrue at all times from and after the execution and delivery of this Agreement.
Appears in 1 contract
Unused Commitment Fee. Subject to Section 1.11(e), the The Borrower shall pay to the Revolver Agent a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender in an amount equal to:
(i) the average daily balance amount of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quartermonth, less
(ii) the sum of (x) the average daily balance of all Revolving Loans held by such Revolving Lender plus (y) the average daily amount of Letter of Credit Obligations held by such Revolving Lender, plus (z) in the case of the Swingline Swing Line Lender, the average daily balance of all outstanding Swing Loans held by such Swingline Swing Line Lender, in each case, during the preceding calendar quartermonth; provided, in no event shall the amount computed pursuant to clauses (i) and (ii) with respect to the Swingline Lender be less than zero,
(iii) multiplied by one one-half of one percent (0.50.50%) per annum. The total Unused Commitment Fee fee paid by the Borrower will be equal to the sum of all of the Unused Commitment Fees fees due to the Lenders, subject to Section subsection 1.11(e)(vi). Such fee shall be payable quarterly monthly in arrears on the first day of each the calendar quarter month following the date hereofhereof and the first day of each calendar month thereafter. The Unused Commitment Fee provided in this Section subsection 1.9(b) shall accrue at all times from and after the execution and delivery of this Agreement. For purposes of this subsection 1.9(b), the Revolving Loan Commitment of any Non-Funding Lender shall be deemed to be zero.
Appears in 1 contract
Unused Commitment Fee. Subject to Section 1.11(e), the Borrower The Borrowers shall pay to the Revolver Agent a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender in an amount equal to:
(i) the average daily balance balances of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quartermonth, less
(ii) the sum of (x) the average daily balance of all Revolving Loans held by such Revolving Lender plus (y) the average daily amount of Letter of Credit Obligations held by such Revolving Lender, plus (z) in the case of the Swingline Lender, the daily balance of all outstanding Swing Loans held by such Swingline Lender, in each case, during the preceding calendar quartermonth (such result of (x) plus (y) for any applicable period, the “Usage”); provided, in no event shall the amount computed pursuant to clauses (i) and (ii) with respect to the Swingline Lender be less than zero,
(iii) multiplied by one half of one percent (0.5%) the Applicable Unused Facility Fee Margin per annum. The total Unused Commitment Fee fee paid by the Borrower Borrowers will be equal to the sum of all of the Unused Commitment Fees fees due to the Lenders, subject to Section subsection 1.11(e)(vi). Such fee shall be payable quarterly monthly in arrears on the first day of each calendar quarter month following the date hereof. The Unused Commitment Fee provided in this Section subsection 1.9(b) shall accrue at all times from and after the execution and delivery of this Agreement. For purposes of this subsection 1.9(b), the Revolving Loan Commitment of any Non-Funding Lender shall be deemed to be zero.
Appears in 1 contract
Unused Commitment Fee. Subject to Section 1.11(e), the The Borrower shall pay to the Revolver Agent a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender in an amount equal to:
(i) the average daily balance balances of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quartermonth, less
(ii) the sum of (x) the average daily balance of all Revolving Loans held by such Revolving Lender plus (y) the average daily amount of Letter of Credit Obligations held by such Revolving Lender, plus (z) in the case of the Swingline Swing Line Lender, the average daily balance of all outstanding Swing Loans held by such Swingline Swing Line Lender, in each case, during the preceding calendar quartermonth; provided, in no event shall the amount computed pursuant to clauses (i) and (ii) with respect to the Swingline Lender be less than zero,
(iii) multiplied by one half of one percent (0.50.50%) per annum. The total Unused Commitment Fee fee paid by the Borrower will be equal to the sum of all of the Unused Commitment Fees fees due to the Lenders, subject to Section subsection 1.11(e)(vi). Such fee shall be payable quarterly monthly in arrears on the first day of each the calendar quarter month following the date hereofhereof and the first day of each calendar month thereafter. The Unused Commitment Fee provided in this Section subsection 1.9(b) shall accrue at all times from and after the execution and delivery of this Agreement. For purposes of this subsection 1.9(b), the Revolving Loan Commitment of any Non-Funding Lender shall be deemed to be zero.
Appears in 1 contract
Sources: Credit Agreement (Unisys Corp)
Unused Commitment Fee. Subject to Section 1.11(e), the The Borrower shall pay to the Revolver Agent a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender in an amount equal to:
(i) the average daily balance balances of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quartermonth, less
(ii) the sum of (x) the average daily balance of all Revolving Loans held by such Revolving Lender plus (y) the average daily amount of Letter of Credit Obligations held by or participated in by such Revolving LenderLender in accordance with Section 1.1(c)(iv), plus (z) in the case of the Swingline Lender, the average daily balance of all outstanding Swing Loans held by such Swingline Lender, in each case, during the preceding calendar quartermonth; provided, in no event shall the amount computed pursuant to clauses (i) and (ii) with respect to the Swingline Lender be less than zero,
(iii) multiplied by one one-half of one percent (0.50.50%) per annum. The total Unused Commitment Fee fee paid by the Borrower will be equal to the sum of all of the Unused Commitment Fees fees due to the Lenders, subject to Section subsection 1.11(e)(vi). Such fee shall be payable quarterly monthly in arrears on the first day of each calendar quarter month following the date hereof. The Unused Commitment Fee provided in this Section subsection 1.9(b) shall accrue at all times from and after the execution and delivery of this Agreement. For purposes of this subsection 1.9(b), the Revolving Loan Commitment of any Non-Funding Lender shall be deemed to be zero.
Appears in 1 contract
Sources: Credit Agreement (Radioshack Corp)
Unused Commitment Fee. Subject to Section 1.11(e), the Borrower The Borrowers shall pay to the Revolver Agent a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender (other than a Revolving Lender that is a Non-Funding Lender) in an amount equal to:
(i) the daily balance balances of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quartermonth, less
(ii) the sum of (x) the daily balance of all Revolving Loans held by such Revolving Lender plus (y) the daily amount of Letter of Credit Obligations held by such Revolving Lender, plus (z) in the case of the Swingline Lender, the daily balance of all outstanding Swing Loans held by such Swingline Lender, in each case, during the preceding calendar quartermonth; provided, in no event shall the amount computed pursuant to clauses (i) and (ii) with respect to the Swingline Lender be less than zero,
(iii) multiplied by one half of one percent (0.5%) the Applicable Unused Line Fee per annum. The total Unused Commitment Fee fee paid by the Borrower Borrowers will be equal to the sum of all of the Unused Commitment Fees fees due to the Lenders, subject to Section 1.11(e)(vi). Such fee shall be payable quarterly monthly in arrears on the first day of each calendar quarter month following the date hereof. The Unused Commitment Fee provided in this Section 1.9(b) shall accrue at all times from and after the execution and delivery of this Agreement. For purposes of this Section 1.9(b), the Revolving Loan Commitment of any Non-Funding Lender shall be deemed to be zero.
Appears in 1 contract
Unused Commitment Fee. Subject to Section 1.11(e), the Borrower The Borrowers shall pay to the Revolver Agent a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender in an amount equal to:
(i) the difference of
(A) the average daily balance of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quarter, less
(iiB) the sum of (x) the average daily balance of all Revolving Loans held by such Revolving Lender during the preceding calendar quarter plus (y) the average daily amount of Letter of Credit Obligations held by such Revolving LenderLender during the preceding calendar quarter, plus (z) in the case of the Swingline Swing Lender, the daily balance of all outstanding Swing Loans held by such Swingline Swing Lender, in each case, during the preceding calendar quarter; provided, ;
(C) provided that in no event shall the amount computed pursuant to clauses (iSection 2.9(b)(i)(A) and (iiSection 2.9(b)(i)(B) with respect to the Swingline Swing Lender be less than zero,
(iiiii) multiplied by one half quarter of one percent (0.50.25%) per annum. The total Unused Commitment Fee paid by the Borrower Borrowers will be equal to the sum of all of the Unused Commitment Fees due to the Lenders, subject to Section 1.11(e)(vi2.11(e)(vi). Such fee shall be payable quarterly in arrears on the first last day of each calendar quarter following the date hereofClosing Date. The Unused Commitment Fee provided in this Section 1.9(b2.9(b) shall accrue at all times from and after the execution and delivery of this Agreement.
Appears in 1 contract
Sources: Credit Agreement (Phreesia, Inc.)
Unused Commitment Fee. Subject to Section 1.11(e), the The Borrower shall pay to the Revolver Agent a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender in an amount equal to:
(i) the average daily balance of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quarter, less
(ii) the sum of (x) the average daily balance of all Revolving Loans held by such Revolving Lender plus (y) the average daily amount of Letter of Credit Obligations held by such Revolving Lender, plus (z) in the case of the Swingline Lender, the average daily balance of all outstanding Swing Loans held by such Swingline Lender, in each case, during the preceding calendar quarter; provided, in no event shall the amount computed pursuant to clauses (i) and (ii) with respect to the Swingline Lender be less than zero,
(iii) multiplied by one half of one percent (0.50.50%) per annum. The total Unused Commitment Fee paid by the Borrower will be equal to the sum of all of the Unused Commitment Fees due to the Lenders, subject to Section subsection 1.11(e)(vi). Such fee shall be payable quarterly in arrears on the first day of each the calendar quarter following the date hereofhereof and the first day of each calendar quarter thereafter. The Unused Commitment Fee provided in this Section subsection 1.9(b) shall accrue at all times from and after the execution and delivery of this Agreement.
Appears in 1 contract
Sources: Credit Agreement (Metropolitan Health Networks Inc)
Unused Commitment Fee. Subject to Section 1.11(e)On the first Business Day of each calendar month following the date hereof and on and until the date upon which the Obligations are paid in full, the Borrower Borrowers shall pay to the Revolver Agent a an unused commitment fee (the “Unused Commitment Fee”) for the account of each Revolving Lender in an amount equal to:
: (i) the excess of the (A) the daily balance of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quarter, less
month over (iiB) the sum of (x1) the daily balance of all Revolving Loans held by such Revolving Lender plus Lender, (y2) the daily amount of Letter of Credit Obligations held by such Revolving Lender, plus and (z3) in the case of the Swingline Lender, the daily balance of all outstanding Swing Loans held by such Swingline Lender, in each case, during the preceding calendar quartermonth; providedprovided that, in no event shall the amount computed pursuant to clauses (i1) and (ii2) with respect to the Swingline Lender be less than zero,
(iii) , multiplied by one half of one percent (0.5%ii) 0.50% per annum. The total Unused Commitment Fee paid Fees payable by the Borrower Borrowers on each such date will be equal to the sum of all of the Unused Commitment Fees due to the LendersLenders on such date, subject to Section 1.11(e)(vi1.18(f). Such fee shall be payable quarterly in arrears on the first day of each calendar quarter following the date hereof. The Unused Commitment Fee provided in this Section 1.9(b) shall accrue at all times from and after the execution and delivery of this Agreement.
Appears in 1 contract
Unused Commitment Fee. Subject to Section 1.11(e), the The Borrower shall pay to the Revolver Agent a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender (subject to subsection 1.11(e)(vi) with respect to any Non-Funding Lender) in an amount equal to:
(i) the average daily balance balances of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quartermonth, less
(ii) the sum of (x) the average daily balance of all Revolving Loans held by such Revolving Lender plus (y) the average daily amount of Letter of Credit Obligations held by such Revolving Lender, plus (z) in the case of the Swingline Swing Line Lender, the average daily balance of all outstanding Swing Loans held by such Swingline Swing Line Lender, in each case, during the preceding calendar quartermonth; provided, in no event shall the amount computed pursuant to clauses (i) and (ii) with respect to the Swingline Lender be less than zero,
(iii) multiplied by one one-half of one percent (0.5%) per annum. The total Unused Commitment Fee fee paid by the Borrower will be equal to the sum of all of the Unused Commitment Fees fees due to the Lenders, subject to Section subsection 1.11(e)(vi). Such fee shall be payable quarterly monthly in arrears on the first day of each the calendar quarter month following the date hereofhereof and the first day of each calendar month thereafter. The Unused Commitment Fee provided in this Section subsection 1.9(b) shall accrue at all times from and after the execution and delivery of this Agreement. For purposes of this subsection 1.9(b), the Revolving Loan Commitment of any Non-Funding Lender shall be deemed to be zero.
Appears in 1 contract