Unused Commitment Fees. No Defaulting Lender shall be entitled to receive any Unused Commitment Fee for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise would have been required to have been paid to that Defaulting Lender).
Unused Commitment Fees. The Borrower shall pay to the Administrative Agent for the account of the Lenders the following unused commitment fees, from the date hereof in the case of each Initial Lender and from the effective date specified in the Assignment and Acceptance pursuant to which it became a Lender in the case of each other Lender, in each case until the Termination Date, payable in arrears quarterly on the last day of each March, June, September and December, commencing June 30, 2006, and on the Termination Date in respect of the applicable Facility:
(i) (A) for each such quarter during which the average daily Revolver Usage of all Revolving Credit Lenders is greater than or equal to $30,000,000, an unused revolving commitment fee at the rate of 0.25% per annum on the sum of the average daily Unused Revolving Credit Commitment of each Appropriate Lender plus such Appropriate Lender’s Pro Rata Share of the average daily outstanding Swing Line Advances during such quarter, and (B) for each such quarter during which the average daily Revolver Usage of all Revolving Credit Lenders is less than $30,000,000, an unused revolving commitment fee at the rate of 0.50% per annum on the sum of the average daily Unused Revolving Credit Commitment of each Appropriate Lender plus such Appropriate Lender’s Pro Rata Share of the average daily outstanding Swing Line Advances during such quarter;
(ii) a term commitment fee at the rate of 0.50% per annum on the sum of the average daily Unused Term Commitment of each Appropriate Lender during such quarter; provided, however, that any revolving unused commitment fee or term unused commitment fee accrued with respect to any of the Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such unused commitment fee shall otherwise have been due and payable by the Borrower prior to such time; and provided further that no unused commitment fee shall accrue on any of the Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender.”
Unused Commitment Fees. Borrower agrees to pay to the Agent, for distribution to each Lender in proportion to that Lender's Pro Rata Share, unused commitment fees for the period from and including the Closing Date to and excluding the Maturity Date as follows: (i) equal to, if the average of the daily unused portion of the Commitments is greater than 65%, such average of the daily unused portion of the Commitment MULTIPLIED BY 0.25% per annum; or (ii) equal to, if the average of the daily unused portion of the Commitments is less than or equal to 65%, such average of the daily unused portion of the Commitment MULTIPLIED BY 0.20% per annum. Any such unused commitment fees are to be calculated on the basis of a 360-day year and the actual number of days elapsed. Anything contained in this Agreement to the contrary notwithstanding, for purposes of calculating the unused commitment fees payable by Borrower pursuant to this Section 2.8.1, the "UNUSED PORTION OF THE COMMITMENTS," as of any date of determination, shall be an amount equal to the average daily amount by which the aggregate of the Commitments exceeds the sum of: (a) the aggregate principal amount of the Loans outstanding plus (b) the Letter of Credit Usage during the applicable calendar quarter or portion thereof. The unused commitment fee shall be payable as provided in this Section 2.8.1 notwithstanding that the then Available Amount may be less than the amount of the Commitments. An unused commitment fee shall be payable quarterly in arrears on the fifth day of each calendar quarter or portion thereof during the term hereof, with a final payment due on the Maturity Date.
Unused Commitment Fees. The Borrower agrees to pay to the Agent for the account of the Revolving Loan Lenders an unused commitment fee to be shared pro rata among the Revolving Loan Lenders with respect to the Revolving Loan Commitments for the period from and including the Closing Date to but excluding the Revolving Loan Commitment Expiration Date, based on the average daily aggregate amount of the unused Aggregate Revolving Loan Commitment from time to time in effect and computed at the rate of (i) during any period in which the Maximum Total Debt Ratio is less than 5.50:1, 0.375% per annum and (ii) at all other times, 0.500% per annum. Such fee shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Loan Commitment Expiration Date, commencing on the first such date to occur after the Closing Date.
Unused Commitment Fees. (a) The Borrowers agree to pay to the Revolving Loan Lenders an unused commitment fee to be shared pro rata among the Revolving Loan Lenders with respect to the Revolving Loan Commitments for the period from and including the Closing Date to but excluding the Revolving Loan Commitment Expiration Date, based on the average daily aggregate amount of the unused Aggregate Revolving Loan Commitment from time to time in effect and computed at the applicable per annum rate set forth below: Maximum Total Commitment Debt Ratio Fee ------------ ---------- *6.00:1 0.500% **6.00:1 - *5.00:1 0.375% **5.00:1 0.250% Such fee shall be payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Loan Commitment Expiration Date, commencing on the first such date to occur after the Closing Date.
(b) The Borrowers agree to pay to the Incremental Loan Lenders following activation of the Aggregate Incremental Loan Commitment, an unused commitment fee to be shared pro rata among the Incremental Loan Lenders with respect to the Incremental Loan Commitments for the period from and including the Activation Date to but excluding the Incremental Loan Commitment Expiration Date, based on the average daily aggregate amount of the unused Aggregate Incremental Loan Commitment from time to time in effect and computed at the applicable per annum rate set forth below: Maximum Total Commitment Debt Ratio Fee ------------- ----------- *6.00:1 0.500% **6.00:1 - *5.00:1 0.375% **5.00:1 0.250% Such fee shall be payable quarterly in arrears on the last day of each March, June, September and December and the Incremental Loan Commitment Expiration Date, commencing on the first such date to occur after the Activation Date.
Unused Commitment Fees. The Borrower shall pay to the Agent, for the period from and including the Commitment Closing Date to the Revolving Termination Date, for the account of each Bank an unused-commitment fee at the rate of 0.50% per annum on the average daily amount by which the Combined Commitments exceeds the aggregate amount of all Loans outstanding from time to time. Such commitment fee shall be payable in arrears on the last Business Day of each calendar quarter and on the Revolving Termination Date.
Unused Commitment Fees. (a) For each day that the Revolving Credit Exposure equals or exceeds fifty percent (50%) of the Total Revolving Loan Commitments, the Borrower shall pay to the Agent, for the Pro rata benefit of the Banks, an unused commitment fee at the rate per annum (based on a year of 360 days and calculated for the actual number of days elapsed) of fifteen (15) basis points times the excess of the Total Revolving Loan Commitments then in effect over the Revolving Credit Exposure on that day and (b) for each day that the Revolving Credit Exposure is less than fifty percent (50%) of the Total Revolving Loan Commitments, the Borrower shall pay to the Agent, for the Pro rata benefit of the Banks, an unused commitment fee at the rate per annum (based on a year of 360 days calculated for the actual number of days elapsed) of twenty-five (25) basis points times the excess of the Total Revolving Loan Commitments then in effect over the Revolving Credit Exposure on that day. The unused commitment fee shall be payable on the first Cleveland Banking Day after each Fiscal Quarterly Date commencing on the Restatement Effective Date and continuing on the first Cleveland Banking Day after each Fiscal Quarterly Date thereafter. After any permanent reduction of the Total Revolving Loan Commitments pursuant to Section 5.07, the unused commitment fees payable hereunder shall be calculated upon the Total Revolving Loan Commitments of the Banks as so reduced.
(b) All unused commitment fees as defined in the 2004 Credit Agreement that shall have accrued under the 2004 Credit Agreement and remain unpaid on the Restatement Effective Date shall be paid in full on the Restatement Effective Date.
Unused Commitment Fees. The Borrower agrees to pay to the Lenders an unused commitment fee to be shared pro rata among the Lenders with respect to the Revolving Loan Commitments for the period from and including the Closing Date to but excluding the Revolving Loan Commitment Expiration Date, based on the daily aggregate Available Revolving Loan Commitment from time to time in effect and computed at the applicable per annum rate set forth below: Revolving Loan Commitment Leverage Level Fee Rate -------------- ---------- 1(less than or equal to 0.75) 0.250% 2(greater than 0.75 less than or equal to 1.00) 0.250% 3(greater than 1.00 less than or equal to 1.50) 0.375% 4(greater than 1.50) 0.375% Such fee shall be payable quarterly in arrears on the last day of each January, April, July and October and on the Revolving Loan Commitment Expiration Date, commencing on the first such date to occur after the Closing Date.
Unused Commitment Fees. (a) The Borrower shall pay to the Agent, for the account of each of the Lenders, a commitment fee (the “Unused Commitment Fee”), which shall accrue at the Commitment Fee Rate on the average daily Unused Commitment Fee Base from and including the Closing Date to but excluding the date on which all obligations under the RC Commitments have been paid in full and the RC Commitments have been terminated. Accrued Unused Commitment Fees shall be payable in arrears on each Quarterly Payment Date (for the quarter then most recently ended) and on the date on which the RC Commitments terminate, commencing on the first such date to occur after the Closing Date. All Unused Commitment Fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
Unused Commitment Fees. The Borrower agrees to pay to each Revolving Credit Lender that is a Non-Defaulting Lender a commitment fee on the actual daily amount by which the Revolving Credit Commitment of such Lender exceeds its Pro Rata Share of the sum of (i) the aggregate outstanding principal amount of Revolving Loans and (ii) the outstanding amount of the L/C Obligations for all Letters of Credit (the “Unused Revolver Commitment Fee”) from the date hereof through the Revolving Credit Termination Date at a rate per annum equal to 0.50%, payable in arrears (x) on the last day of each calendar quarter after June 30, 2011 and (y) on the Revolving Credit Termination Date.
