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
Samples: Credit Agreement (Truck Hero, Inc.), Credit Agreement (TA THI Parent, 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
Samples: Credit Agreement (Jakks Pacific Inc), Credit Agreement (Jakks Pacific Inc)
Unused Commitment Fee. Subject to Section 1.11(e), the The Borrower shall pay to the Revolver Agent Administrative Agent, for the ratable benefit of the Revolving Credit Lenders, a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender calculated on a daily basis in an amount equal to:
(i) the ending daily balance of the aggregate Revolving Loan Commitment of such Revolving Lender during the preceding calendar quarterCredit Commitments, less
(ii) the sum of (x) the ending daily balance of all Revolving Loans held by such Revolving Lender plus (y) the daily amount of Letter of Credit and L/C 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 for each case, day occurring during the preceding calendar quarter; provided, in no event shall month (the amount computed pursuant to clauses difference of (i) and minus (ii) with respect is referred to as the Swingline Lender be “Daily Unused Commitment”), multiplied by (x) one percent (1.00%) per annum for any day in which the Daily Unused Commitment is greater than 66.7% of the aggregate Revolving Credit Commitments at the end of such day, (y) three-quarters of one percent (0.75%) per annum for any day in which the Daily Unused Commitment is less than zero,
or equal to 66.7% and is greater than or equal to 33.3% of the aggregate Revolving Credit Commitments at the end of such day and (iiiy) multiplied by one one-half of one percent (0.50.50%) per annum. The total annum for any day in which the Daily Unused Commitment Fee paid by the Borrower will be equal to the sum of all is less than 33.3% of the Unused aggregate Revolving Credit Commitment Fees due to at the Lenders, subject to Section 1.11(e)(vi)end of such day. Such fee shall be payable quarterly monthly in arrears on the first last day of the calendar month following the date hereof and the last day of each calendar quarter following the date hereofmonth thereafter. The Unused Commitment Fee provided in this Section 1.9(bsubsection 2.11(a) shall accrue at all times from and after the execution and delivery of this AgreementAgreement through and including the date on which the Revolving Credit Commitments are terminated. Following receipt of the Unused Commitment Fee, the Administrative Agent shall pay to each Revolving Credit Lender from, and to the extent of, the Unused Commitment Fee an amount equal to its pro rata share calculated as if the average daily balance of Swing Loans for the preceding calendar month had been zero.
Appears in 1 contract
Samples: Credit Agreement (Medquist 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 other than 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) such Lender’s Commitment Percentage of the average daily amount of Letter of Credit Obligations held by such Revolving LenderObligations, 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 (x) three-quarters of one percent (0.75%) per annum if the sum of clauses (ii)(x), (y) and (z) above is less than or equal to fifty percent (50%) of the Revolving Loan Commitment of such Revolving Lender as of the last day of such month, or (y) one-half of one percent (0.50.50%), per annum if the sum of clauses (ii)(x), (y) and (z) above is greater than fifty percent (50%) per annumof the Revolving Loan Commitment as of the last day of such month. Table of Contents 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 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 AgreementAgreement until the Final Availability Date. 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 On each Quarterly Date from and after the Effective Date and until the earlier of (X) the Credit Rating Election Date, or (Y) the Revolving Maturity Date, Borrower agrees to Section 1.11(epay to Administrative Agent for the account of each Revolving Lender (other than the Swingline Lender in its capacity as such), the Borrower shall pay to the Revolver Agent a in arrears, an unused commitment fee (the “Unused Commitment Fee”) for ), which shall be equal to the account of each Revolving Lender in an amount equal tofollowing:
(i) The product of:
(A) the daily balance unused amount of the Revolving Loan Commitment of such Revolving Lender (excluding amounts drawn for these purposes and any amounts drawn as Swingline Loans) for each day during the preceding calendar quarterquarter in which such Quarterly Date or Revolving Maturity Date falls, lessand
(B) a rate per annum, for each such day, of (i) 0.15% if the daily unused amounts of the Revolving Loan Commitments of all Revolving Lenders on such day represents a total Revolving Credit Exposure of all Revolving Lenders equal to or in excess of fifty percent (50%) of the total Revolving Loan Commitments or (ii) the sum of (x) 0.25% if the daily balance unused amounts of the Revolving Loan Commitments of all Revolving Loans held by Lenders on such day represents a total Revolving Lender plus Credit Exposure of all Revolving Lenders that is less than fifty percent (y50%) 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 AgreementRevolving Loan Commitments.
Appears in 1 contract
Unused Commitment Fee. Subject to Section 1.11(e)On July 1, 2014, on the Borrower first Business Day of each calendar quarter thereafter, and on and until the date upon which the Obligations are paid in full, 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 the (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 greater than $50,000,000, 0.385% 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 equal to or less than $50,000,000, 0.625% 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
Samples: Credit Agreement (Jakks Pacific 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 other than 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) such Lender’s Commitment Percentage of the average daily amount of Letter of Credit Obligations held by such Revolving LenderObligations, 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 (x) one-half of one percent (0.50.50%) per annumannum if the sum of clauses (ii)(x), (y) and (z) above is less than or equal to fifty percent (50%) of the Revolving Loan Commitment of such Revolving Lender as of the last day of such month, or (y) three-eighths of one percent (0.375%), per annum if the sum of clauses (ii)(x), (y) and (z) above is greater than fifty percent (50%) of the Revolving Loan Commitment as of the last day of such 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 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 AgreementAgreement until the Final Availability Date. 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 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
Samples: 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 (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
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 (i) Borrowers shall pay to the Revolver Agent a fee (the “Unused Revolving Commitment Fee”) for the account of each Revolving Lender in an amount equal to:
(i1) the average daily balance of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quarterFiscal Quarter, less
(ii2) 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, Lender plus (z) in the case of the Swingline Lender, the average daily balance of all outstanding Swing Swingline Loans held by such Swingline Lender, in each case, during the preceding calendar quarterFiscal Quarter; provided, that in no event shall the amount computed pursuant to clauses (i1) and (ii2) with respect to the Swingline Lender be less than zero,;
(iii3) multiplied by one one-half of one percent (0.50.50%) per annum.
(ii) Borrowers shall pay to Agent a fee (the “Unused CAPEX Commitment Fee”) for the account of each CAPEX Lender in an amount equal to
(1) the average daily balance of the Available CAPEX Loan Balance of such CAPEX Lender during the preceding Fiscal Quarter,
(2) multiplied by three-quarters of one percent (0.75%) per annum. The total Unused Revolving Commitment Fee and Unused CAPEX Commitment Fee paid by the Borrower Borrowers will be equal to the sum of all of the Unused Revolving Commitment Fees and Unused CAPEX 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 the Fiscal Quarter following the date hereofhereof and the first day of each Fiscal Quarter thereafter. The Unused Revolving Commitment Fee and Unused CAPEX 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
Unused Commitment Fee. Subject to Section 1.11(e), the (i) Borrower shall pay to the Revolver Agent a fee (the “Unused Revolving Commitment Fee”) for the account of each Revolving Lender in an amount equal to:
(i1) the average daily balance of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quarterFiscal Quarter, less
(ii2) 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, Lender plus (z) in the case of the Swingline Lender, the average daily balance of all outstanding Swing Swingline Loans held by such Swingline Lender, in each case, during the preceding calendar quarterFiscal Quarter; provided, that in no event shall the amount computed pursuant to clauses (i1) and (ii2) with respect to the Swingline Lender be less than zero,;
(iii3) multiplied by one one-half of one percent (0.50.50%) per annum.
(ii) Borrower shall pay to Agent a fee (the “Unused CAPEX Commitment Fee”) for the account of each CAPEX Lender in an amount equal to
(1) the average daily balance of the Available CAPEX Loan Balance of such CAPEX Lender during the preceding Fiscal Quarter,
(2) multiplied by three-quarters of one percent (0.75%) per annum. The total Unused Revolving Commitment Fee and Unused CAPEX Commitment Fee paid by the Borrower will be equal to the sum of all of the Unused Revolving Commitment Fees and Unused CAPEX 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 the Fiscal Quarter following the date hereofhereof and the first day of each Fiscal Quarter thereafter. The Unused Revolving Commitment Fee and Unused CAPEX 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
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
Samples: Credit Agreement (Unisys Corp)
Unused Commitment Fee. Subject to Section 1.11(e), the Borrower The Borrowers shall pay to the Revolver Administrative Agent a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender day in an amount equal to:
(i) the daily balance of the Aggregate Revolving Loan Commitment of for such Revolving Lender during the preceding calendar quarterday, less
(ii) the Revolving Loan Commitment for such day of any Non-Funding Lender, less
(iii) the sum of (x) the daily balance of all Revolving Loans held by such Revolving Lender outstanding plus (y) the daily Swing Loans outstanding plus (z) the 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 LenderObligations, in each casecase for such day, during multiplied by (A) 0.75% per annum if the preceding calendar quarter; provided, in no event shall the amount computed pursuant to clauses (i) then applicable Utilization is less than 50% and (iiB) with respect to 0.50% per annum if the Swingline Lender be less then applicable Utilization is greater 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 or equal to the sum of all of the Unused Commitment Fees due to the Lenders, subject to Section 1.11(e)(vi)50%. 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 mutual execution and delivery of this Agreement. Following receipt of the Unused Commitment Fee, Administrative Agent shall pay to each Revolving Lender (other than the Swingline Lender with respect to any Swing Loans, and other than any Non-Funding Lender from and after the date such Lender became a Non-Funding Lender and regardless of whether such Non-Funding Lender’s Commitment has been terminated) from, and to the extent of, the Unused Commitment Fee and interest received by it on the Swing Loans an amount equal to its pro rata share of the Unused Commitment Fee calculated as if the average daily balance of Swing Loans for the preceding calendar month had been 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 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
Samples: Credit Agreement (Metropolitan Health Networks 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 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; providedprovided that, 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 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 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 (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.
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Samples: 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 average daily balance of all outstanding Swing Loans held by such Swingline Lender, in each case, during the preceding calendar quartermonth; provided, that 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 the applicable percentage per annum listed below corresponding to the average unused daily balance of one percent (0.5%) per annum. the Revolving Loan Commitment: Greater than or equal to 66 2/3% 0.50 % Greater than or equal to 33 1/3% but less than 66 2/3% 0.375 % Less than 33 1/3% 0.25 % 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 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.
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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
Samples: Credit Agreement (Radioshack Corp)
Unused Commitment Fee. Subject to Section 1.11(e), the Borrower The Borrowers shall pay to the Revolver Administrative Agent a fee (the “Unused Commitment Fee”) for the account of each Revolving Lender day in an amount equal to:
(i) the daily balance of the Aggregate Revolving Loan Commitment of for such Revolving Lender during the preceding calendar quarterday, less
(ii) the Revolving Loan Commitment for such day of any Non-Funding Lender, less
(iii) the sum of (x) the daily balance of all Revolving Loans held by such Revolving Lender outstanding plus (y) the daily Swing Loans outstanding plus (z) the 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 LenderObligations, in each casecase for such day, during multiplied by (A) 0.50% per annum if the preceding calendar quarter; provided, in no event shall the amount computed pursuant to clauses (i) then applicable Utilization is less than 50% and (iiB) with respect to 0.375% per annum if the Swingline Lender be less then applicable Utilization is greater 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 or equal to the sum of all of the Unused Commitment Fees due to the Lenders, subject to Section 1.11(e)(vi)50%. 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 mutual execution and delivery of this Agreement. Following receipt of the Unused Commitment Fee, Administrative Agent shall pay to each Revolving Lender (other than the Swingline Lender with respect to any Swing Loans, and other than any Non-Funding Lender from and after the date such Lender became a Non-Funding Lender and regardless of whether such Non-Funding Lender’s Commitment has been terminated) from, and to the extent of, the Unused Commitment Fee and interest received by it on the Swing Loans an amount equal to its pro rata share of the Unused Commitment Fee calculated as if the average daily balance of Swing Loans for the preceding calendar month had been zero.
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Samples: Revolving Credit Agreement (Georgia Gulf Corp /De/)
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:
(iA) the average daily balance balances of the Revolving Loan Commitment of such Revolving Lender during the preceding calendar quartermonth, less
(iiB) 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, that in no event shall the amount computed pursuant to clauses (iA) and (iiB) with respect to the Swingline Lender be less than zero,
(iiiC) multiplied by one half the applicable percentage per annum listed below corresponding to the average unused daily balance of one percent (0.5%) per annum. the Revolving Loan Commitment: Greater than or equal to 66 2/3% 0.50 % Greater than or equal to 33 1/3% but less than 66 2/3% 0.375 % Less than 33 1/3% 0.25 % The total Unused Commitment 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 1.11(e)(vi). Such fee Unused Commitment 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.
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