Common use of Unused Commitment Fees Clause in Contracts

Unused Commitment Fees. (i) Accruing from the Closing Date through the Maturity Date with respect to the Revolving Credit Facility, the Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender according to its Pro Rata Share of the Revolving Credit Facility, a nonrefundable unused commitment fee (each an “Unused Revolving Commitment Fee”) equal to (x) the Applicable Unused Revolving Commitment Fee Rate (computed on the basis of a year of 360 days, as the case may be, and actual days elapsed) multiplied by (y) the average daily result of (A) the Revolving Commitments minus (B) the sum of the Revolving Loans; provided however, with respect to the Unused Commitment Fee for the account of the Swing Line Lender, such fee shall be equal to the Applicable Unused Revolving Commitment Fee Rate (computed on the basis of a year of 360 days, as the case may be, and actual days elapsed) multiplied by the average daily difference between the Revolving Commitment and the Revolving Credit Facility Usage; provided further that any Unused Revolving Commitment Fee accrued with respect to the Revolving Commitment 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 Revolving Commitment Fee shall otherwise have been due and payable by the Borrower prior to such time; provided further that no Unused Revolving Commitment Fee shall accrue with respect to the Revolving Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. Subject to the provisos in the directly preceding sentence, all Unused Revolving Commitment Fees shall be payable in arrears on each Interest Payment Date.

Appears in 2 contracts

Samples: Credit Agreement (Nuvera Communications, Inc.), Credit Agreement (Nuvera Communications, Inc.)

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Unused Commitment Fees. (i) Accruing from the Closing Date through the Maturity Date with respect to the Revolving Credit Facility, the Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender according to its Pro Rata Share of the Revolving Credit Facility, a nonrefundable unused commitment fee (each an “Unused Revolving Commitment Fee”) equal to (x) the Applicable Unused Revolving Commitment Fee Rate (computed on the basis of a year of 360 days, as the case may be, and actual days elapsed) multiplied by (y) the average daily result of (A) the Revolving Commitments minus (B) the sum of the Revolving Loans; provided however, with respect to the Unused Commitment Fee for the account of the Swing Line Lender, such fee shall be equal to the Applicable Unused Revolving Commitment Fee Rate (computed on the basis of a year of 360 days, as the case may be, and actual days elapsed) multiplied by the average daily difference between the Revolving Commitment and the Revolving Credit Facility Usage; provided further that any Unused Revolving Commitment Fee accrued with respect to the Revolving Commitment 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 Revolving Commitment Fee shall otherwise have been due and payable by the Borrower prior to such time; provided further that no Unused Revolving Commitment Fee shall accrue with respect to the Revolving Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. Subject to the provisos in the directly preceding sentence, all Unused Revolving Commitment Fees shall be payable in arrears on each Interest Payment Date.

Appears in 1 contract

Samples: Credit Agreement (Nuvera Communications, Inc.)

Unused Commitment Fees. (i) Accruing i)Accruing from the Closing Date through the Maturity Date with respect to the Revolving A-1 Credit Facility, the Borrower agrees to pay to the Administrative Agent for the account of each Revolving A-1 Loan Lender according to its Pro Rata Share of the Revolving A-1 Credit Facility, a nonrefundable unused commitment fee (each an “Unused Revolving A-1 Commitment Fee”) equal to (x) the Applicable Unused Revolving A-1 Commitment Fee Rate (computed on the basis of a year of 360 days, as the case may be, and actual days elapsed) multiplied by (y) the average daily result of (A) the Revolving A-1 Commitments minus (B) the sum of the Revolving LoansA-1 Loans and the portion of the Letter of Credit Obligations allocated to the Revolving A-1 Loan Lenders on a pro rata basis; provided provided, however, with respect to the Unused Revolving A-1 Commitment Fee for the account of the Swing Line Lender, such fee shall be equal to (x) the Applicable Unused Revolving A-1 Commitment Fee Rate (computed on the basis of a year of 360 days, as the case may be, and actual days elapsed) multiplied by (y) the average daily difference between (A) the Revolving Commitment A-1 Commitments and (B) the Revolving A-1 Credit Facility UsageUsage (for the avoidance of doubt, as to Swing Line Lender only, Swing Line Loans will reduce the Unused Revolving A-1 Commitment Fee); provided further that any Unused Revolving A-1 Commitment Fee accrued with respect to the Revolving A-1 Commitment 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 Revolving A-1 Commitment Fee shall otherwise have been due and payable by the Borrower prior to such time; provided further that no Unused Revolving A-1 Commitment Fee shall accrue with respect to the Revolving A-1 Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. Subject to the provisos in the directly preceding sentence, all Unused Revolving A-1 Commitment Fees shall be payable in arrears on each Interest Payment Date.

Appears in 1 contract

Samples: Credit Agreement (ATN International, Inc.)

Unused Commitment Fees. (i) Accruing from the Closing Date through the Maturity Date with respect to the Revolving Credit Facility, the The Borrower agrees to 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 December 31, 2007, and on the Termination Date in respect of the applicable Facility: (i) for each such quarter during which the average daily Revolver Usage of all Revolving Credit Lenders is less than fifty percent (50%) of the aggregate of all Revolving Credit Commitments, an unused revolving commitment fee at the rate of 0.40% per annum on the sum of the average daily Unused Revolving Credit Commitment of each Appropriate Lender according to its plus such Appropriate Lender’s Pro Rata Share of the Revolving Credit Facility, a nonrefundable unused commitment fee (each an “Unused Revolving Commitment Fee”) equal to (x) the Applicable Unused Revolving Commitment Fee Rate (computed on the basis of a year of 360 days, as the case may beaverage daily outstanding Swing Line Advances during such quarter, and actual days elapsed(ii) multiplied by (y) for each such quarter during which the average daily result Revolver Usage of all Revolving Credit Lenders is greater than or equal to fifty percent (A50%) of the aggregate of all Revolving Commitments minus (B) Credit Commitments, an unused revolving commitment fee at the rate of 0.25% per annum on the sum of the Revolving Loans; provided however, with respect to the Unused Commitment Fee for the account of the Swing Line Lender, such fee shall be equal to the Applicable average daily Unused Revolving Credit Commitment Fee Rate (computed on the basis of a year each Appropriate Lender plus such Appropriate Lender’s Pro Rata Share of 360 days, as the case may be, and actual days elapsed) multiplied by the average daily difference between the Revolving Commitment and the Revolving Credit Facility Usageoutstanding Swing Line Advances during such quarter; provided further provided, however, that any Unused Revolving Commitment Fee unused commitment fee accrued with respect to any of the Revolving Commitment 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 Revolving Commitment Fee unused commitment fee shall otherwise have been due and payable by the Borrower prior to such time; and provided further that no Unused Revolving Commitment Fee unused commitment fee shall accrue with respect to on any of the Revolving Commitment Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. Subject to the provisos in the directly preceding sentence, all Unused Revolving Commitment Fees shall be payable in arrears on each Interest Payment Date.

Appears in 1 contract

Samples: Credit Agreement (Grubb & Ellis Co)

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Unused Commitment Fees. (i) Accruing from the Closing Date through the Maturity Date with respect to the Revolving Credit Facility, the Borrower agrees to pay to the Administrative Agent (i) for the account of each Lenders in proportion to their Burdxxx Xxxcentage Interests an unused commitment fee during the period commencing on the date hereof and ending on the last day of the Burdxxx Xxxmitment Period computed daily at the rate of sixty basis points (.60%) per annum on the difference between the then existing Total Burdxxx Xxxmitment and the outstanding principal balance of the Burdxxx Xxxns, and (ii) for the account of Lenders in proportion to their Revolving Lender according to its Pro Rata Share Percentage Interests an unused commitment fee during period commencing on the date hereof and ending on the last day of the Revolving Credit Facility, a nonrefundable unused commitment fee Commitment Period computed daily at the rate of sixty basis points (each an “Unused .60%) per annum on the difference between the then existing Total Revolving Commitment Fee”) equal to (x) and the Applicable Unused Revolving Commitment Fee Rate (computed on the basis of a year of 360 days, as the case may be, and actual days elapsed) multiplied by (y) the average daily result of (A) the Revolving Commitments minus (B) the sum outstanding principal balance of the Revolving Loans; provided however, with respect to the Unused Commitment Fee for the account of the Swing Line Lender, such fee shall be equal to the Applicable Unused Revolving Commitment Fee Rate (computed on the basis of a year of 360 days, as the case may be, and actual days elapsed) multiplied by the average daily difference between the Revolving Commitment and the Revolving Credit Facility Usage; provided further that any Unused Revolving Commitment Fee accrued with respect to the Revolving Commitment 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 Revolving Commitment Fee shall otherwise have been due and payable by the Borrower prior to such time; provided further that no Unused Revolving Commitment Fee shall accrue with respect to the Revolving Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. Subject to the provisos in the directly preceding sentence, all Unused Revolving Commitment Fees Such unused commitment fees shall be payable in arrears at quarterly intervals commencing the first Business Day of October, January, April or July following the date hereof, whichever is earlier, and payable on the first Business Day of each Interest Payment October, January, April and July thereafter, except that accrued unused commitment fees with respect to the then existing Burdxxx Xxxmitment shall be payable on the Burdxxx Xxxversion Date., accrued unused commitment fees with respect to the then existing Revolving Commitment shall be payable on the Revolving Maturity Date and all such fees shall be payable on demand after the occurrence of an Event of Default. Computations of unused commitment fees shall be

Appears in 1 contract

Samples: Loan Agreement (Spacelabs Medical Inc)

Unused Commitment Fees. (i) Accruing from the Closing Date through the Maturity Date with respect to the Revolving A-1 Credit Facility, the Borrower agrees to pay to the Administrative Agent for the account of each Revolving A-1 Loan Lender according to its Pro Rata Share of the Revolving A-1 Credit Facility, a nonrefundable unused commitment fee (each an “Unused Revolving A-1 Commitment Fee”) equal to (x) the Applicable Unused Revolving A-1 Commitment Fee Rate (computed on the basis of a year of 360 days, as the case may be, and actual days elapsed) multiplied by (y) the average daily result of (A) the Revolving A-1 Commitments minus (B) the sum of the Revolving LoansA-1 Loans and the portion of the Letter of Credit Obligations allocated to the Revolving A-1 Loan Lenders on a pro rata basis; provided provided, however, with respect to the Unused Revolving A-1 Commitment Fee for the account of the Swing Line Lender, such fee shall be equal to (x) the Applicable Unused Revolving A-1 Commitment Fee Rate (computed on the basis of a year of 360 days, as the case may be, and actual days elapsed) multiplied by (y) the average daily difference between (A) the Revolving Commitment A-1 Commitments and (B) the Revolving A-1 Credit Facility UsageUsage (for the avoidance of doubt, as to Swing Line Lender only, Swing Line Loans will reduce the Unused Revolving A-1 Commitment Fee); provided further that any Unused Revolving A-1 Commitment Fee accrued with respect to the Revolving A-1 Commitment 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 Revolving A-1 Commitment Fee shall otherwise have been due and payable by the Borrower prior to such time; provided further that no Unused Revolving A-1 Commitment Fee shall accrue with respect to the Revolving A-1 Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. Subject to the provisos in the directly preceding sentence, all Unused Revolving A-1 Commitment Fees shall be payable in arrears on each Interest Payment Date.

Appears in 1 contract

Samples: Credit Agreement (ATN International, Inc.)

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