Common use of Unused Fee Clause in Contracts

Unused Fee. In addition to any other fee to be paid by the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall pay to the Administrative Agent for the account of the Revolving Credit Lenders, the Unused Fee. If the Unused Fee actually paid by the Borrowers is insufficient to pay an amount equal to the Line Fee to the Revolving Credit Lenders, the deficiency shall be paid to the Revolving Credit Lenders by the Swing Line Lender from its own funds (and the Borrowers shall have no liability with respect thereto). The Administrative Agent shall pay the Line Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their pro rata share of an amount equal to the aggregate Line Fee due to all Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, and (ii) the sum of (A) such Person's Revolving Credit Commitment Percentage of the principal amount of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/Cs. The Unused Fee shall be paid in arrears, on the first day of each quarter after the execution of this Agreement and on the Termination Date.

Appears in 2 contracts

Samples: Loan and Security Agreement (Shopko Stores Inc), Loan and Security Agreement (Shopko Stores Inc)

AutoNDA by SimpleDocs

Unused Fee. In addition to any other fee to be paid by the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers Borrower shall pay to the Administrative Agent for the account of each Lender with a Revolving Credit Commitment in accordance with its pro rata share thereof (i.e., according to such Lender’s Applicable Revolving Credit Percentage) an unused commitment fee (the “Unused Fee”) for the period commencing on the Closing Date in an amount equal the product of (i) the Applicable Rate times (ii) the actual daily amount by which the Revolving Credit Lenders, Facility exceeds the Unused Feesum of (x) the Outstanding Amount of Revolving Credit Loans plus (y) the Outstanding Amount of L/C Obligations. If the The Unused Fee actually paid by shall accrue at all times during the Borrowers is insufficient to pay an amount equal to the Line Fee Availability Period with respect to the Revolving Credit LendersCommitments, including at any time after the deficiency Closing Date during which one or more of the applicable conditions in Article IV is not met, and shall be paid due and payable quarterly in arrears on the last Business Day of each calendar quarter, commencing with the first such date to occur after the Revolving Credit Lenders by the Swing Line Lender from its own funds (and the Borrowers shall have no liability with respect thereto). The Administrative Agent shall pay the Line Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their pro rata share of an amount equal to the aggregate Line Fee due to all Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit CommitmentClosing Date, and (ii) on the sum of (A) such Person's Revolving Credit Commitment Percentage of the principal amount of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/CsMaturity Date. The Unused Fee shall be paid calculated quarterly in arrears, on and if there is any change in the first day Applicable Percentage during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Percentage separately for each period during such quarter that such Applicable Percentage was in effect. For purposes hereof, (i) L/C Obligations shall be counted toward and considered as usage of each quarter after the execution Revolving Credit Facility and (ii) Swing Line Loans shall not be counted toward or be considered as usage of this Agreement and on the Termination DateRevolving Credit Facility.

Appears in 2 contracts

Samples: Credit Agreement (Kapstone Paper & Packaging Corp), Credit Agreement (Kapstone Paper & Packaging Corp)

Unused Fee. In addition to any other fee to be paid by (i) From and after the Closing Date, the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall agree to pay to the Administrative Agent for the account ratable benefit of the Revolving Credit Lenders, Lenders an unused fee (the Unused Fee. If the Unused Fee actually paid by the Borrowers is insufficient to pay ”) for each calendar quarter (or portion thereof) in an amount equal to the Line sum of the Daily Unused Fees incurred during such period. The Unused Fee shall accrue at all times during the Revolving Commitment Period, including periods during which the conditions to Extensions of Credit in Section 4.02 may not be met, and shall be payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date and on the Revolving Loan Maturity Date (and, if applicable, thereafter on demand); provided, that (i) no Unused Fee shall accrue on the Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (ii) any Unused Fee accrued with respect to the Revolving Credit Lenders, Commitment of a Defaulting Lender during the deficiency period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be paid to the Revolving Credit Lenders by the a Defaulting Lender. For purposes of clarification, Swing Line Lender from its own funds (and Loans shall not be considered outstanding for purposes of determining the Borrowers shall have no liability with respect thereto)unused portion of the Aggregate Revolving Commitments. The Administrative Agent shall pay distribute the Line Unused Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their pro rata share of an amount equal to in accordance with the aggregate Line Fee due to all respective Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, and (ii) the sum of (A) such Person's Revolving Credit Commitment Percentage of the principal amount Commitments of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/Cs. The Unused Fee shall be paid in arrears, on the first day of each quarter after the execution of this Agreement and on the Termination DateLenders.

Appears in 2 contracts

Samples: Credit Agreement (Aviv Reit, Inc.), Credit Agreement (Aviv Reit, Inc.)

Unused Fee. In addition to any other fee to be paid by From and after the Closing Date, the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall agree to pay to the Administrative Agent for the account ratable benefit of the Revolving Credit Lenders, Lenders an unused fee (the Unused Fee. If the Unused Fee actually paid by the Borrowers is insufficient to pay ”) for each calendar quarter (or portion thereof) in an amount equal to the Line sum of the Daily Unused Fees incurred during such period. The Unused Fee shall accrue at all times during the Commitment Period (and thereafter so long as Revolving Obligations shall remain outstanding), including periods during which the conditions to Extensions of Credit in Section 4.02 may not be met, and shall be payable quarterly in arrears on the last day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Termination Date (and, if applicable, thereafter on demand); provided, that (i) no Unused Fee shall accrue on the Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (ii) any Unused Fee accrued with respect to the Revolving Credit Lenders, Commitment of a Defaulting Lender during the deficiency 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 paid to the Revolving Credit Lenders by the Swing Line Lender from its own funds (and the Borrowers shall have no liability with respect thereto)a Defaulting Lender. The Administrative Agent shall pay distribute the Line Unused Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their pro rata share of an amount equal to in accordance with the aggregate Line Fee due to all respective Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, and (ii) the sum of (A) such Person's Revolving Credit Commitment Percentage Commitments of the principal amount of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/Cs. The Unused Fee shall be paid in arrears, on the first day of each quarter after the execution of this Agreement and on the Termination DateLenders.

Appears in 2 contracts

Samples: Credit Agreement (Omega Healthcare Investors Inc), Credit Agreement (Omega Healthcare Investors Inc)

Unused Fee. In addition During the Term Loan Commitment Period, the Borrower agrees to any other fee to be paid by the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall pay to the Administrative Agent for the account ratable benefit of the Revolving Credit Lenders, Term Loan Lenders an unused fee (the Unused Fee. If the Unused Fee actually paid by the Borrowers is insufficient to pay ”) in an amount equal to (a) 0.30%, multiplied by (b) the Line amount of the unused Term Loan Commitments as of the beginning of such day. To the extent applicable, the Unused Fee shall accrue at all times during the Term Loan Commitment Period (for so long as Term Loan Commitments shall remain outstanding), including periods during which the conditions to Extensions of Credit in Section 4.02 may not be met, and shall be payable in a single payment on the last day of the Term Loan Commitment Period; provided, that, pursuant to Section 2.15(a)(iii), (i) no Unused Fee shall accrue on the Term Loan Commitment of a Defaulting Lender so long as such Term Loan Lender shall be a Defaulting Lender and (ii) any Unused Fee accrued with respect to the Revolving Credit Lenders, Term Loan Commitment of a Defaulting Lender during the deficiency period prior to the time such Term Loan Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrower so long as such Term Loan Lender shall be paid to the Revolving Credit Lenders by the Swing Line Lender from its own funds (and the Borrowers shall have no liability with respect thereto)a Defaulting Lender. The Administrative Agent shall pay distribute the Line Unused Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Term Loan Lenders based upon their pro rata share of an amount equal to in accordance with the aggregate Line Fee due to all Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, and (ii) the sum of (A) such Person's Revolving Credit Commitment Percentage respective Term Loan Commitments of the principal amount of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/Cs. The Unused Fee shall be paid in arrears, on the first day of each quarter after the execution of this Agreement and on the Termination DateTerm Loan Lenders.

Appears in 1 contract

Samples: Credit Agreement (Omega Healthcare Investors Inc)

Unused Fee. In addition to any other fee to be paid by During the term of the Loan, the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall agree to pay to the Administrative Agent for the account ratable benefit of the Revolving Credit Lenders, Lenders an unused fee (the "Unused Fee. If the Unused Fee actually paid by the Borrowers is insufficient to pay ") for each calendar quarter (or portion thereof) in an amount equal to the Line sum of the Daily Unused Fees incurred during such period. The Unused Fee shall accrue at all times during the Revolving Loan Commitment Period (and thereafter so long as Obligations shall remain outstanding), including periods during which the conditions to Advances in Section 4.02 may not be met, and shall be payable quarterly in arrears on the last day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Maturity Date (and, if applicable, thereafter on demand); provided, that (i) no Unused Fee shall accrue on the Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (ii) any Unused Fee accrued with respect to the Revolving Credit Lenders, Commitment of a Defaulting Lender during the deficiency 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 paid to the Revolving Credit Lenders by the Swing Line Lender from its own funds (and the Borrowers shall have no liability with respect thereto)a Defaulting Lender. The Administrative Agent shall pay distribute the Line Unused Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their (other than Defaulting Lenders) pro rata share of an amount equal to in accordance with the aggregate Line Fee due to all Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, and (ii) the sum of (A) such Person's Revolving Credit Commitment Percentage respective Commitments of the principal amount of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/Cs. The Unused Fee shall be paid in arrears, on the first day of each quarter after the execution of this Agreement and on the Termination DateLenders.

Appears in 1 contract

Samples: Credit Agreement (Brookdale Senior Living Inc.)

Unused Fee. In addition to any other fee to be paid by the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Revolving Commitment Percentage, an unused fee (the Revolving Credit Lenders, the Unused Fee. If ”) equal to the product of (x) the Unused Fee actually paid Rate, multiplied by (y) the Borrowers is insufficient to pay an actual daily amount equal to by which the Line Fee to Aggregate Revolving Commitments exceeds the Revolving Credit Lenders, the deficiency shall be paid to the Revolving Credit Lenders by the Swing Line Lender from its own funds (and the Borrowers shall have no liability with respect thereto). The Administrative Agent shall pay the Line Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their pro rata share sum of an amount equal to the aggregate Line Fee due to all Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum Outstanding Amount of such Person's Revolving Credit Commitment, and Loans plus (ii) the sum Outstanding Amount of (A) such Person's Letter of Credit Obligations, subject to adjustments as provided in Section 2.16. The Unused Fee shall accrue at all times during the Revolving Credit Commitment Percentage Period, including at any time during which one or more of the principal amount conditions in Section 5 is not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Revolving Loans then outstanding Commitment Termination Date; provided that (including 1) no Unused Fee shall accrue on the principal amount Revolving Commitment of Swing Line Loans then outstanding), a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (B2) any Unused Fee accrued with respect to the Revolving Commitment of a Defaulting Lender during the period prior to the time such Person's Revolving Credit Commitment Percentage of Lender became a Defaulting Lender and unpaid at such time shall not be payable by the then undrawn Stated Amount of outstanding L/CsBorrower so long as such Lender shall be a Defaulting Lender. The Unused Fee shall be paid calculated quarterly in arrears, on and if there is any change in the first day Unused Fee Rate during any quarter, the actual daily amount shall be computed and multiplied by the Unused Fee Rate separately for each period during such quarter that such Unused Fee Rate was in effect. For purposes hereof and the calculation of each quarter after the execution applicable Usage Percentage, Swingline Loans shall not be counted toward or be considered as usage of this Agreement and on the Termination DateAggregate Revolving Commitments.

Appears in 1 contract

Samples: Credit Agreement (Physicians Realty Trust)

Unused Fee. In addition to any other fee to be paid by From and after the Borrowers on account Closing Date and during such times in which clause (a) of the Revolving Credit, each Revolving Credit Lender definition of “Applicable Percentage” shall be paid applicable, the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall Borrower agrees to pay to the Administrative Agent for the account ratable benefit of the Revolving Credit Lenders, Lenders an unused fee (the Unused Fee. If the Unused Fee actually paid by the Borrowers is insufficient to pay ”) in an amount equal to the Line Fee (a) 0.25% per annum (or 0.35% per annum to the Revolving Credit Lendersextent that as of the beginning of any day, the deficiency Outstanding Amount of Revolving Obligations (excluding the amount of any then-outstanding Swing Line Loans) is equal to or less than 50% of the Aggregate Revolving Commitments), multiplied by (b) the amount by which the Aggregate Revolving Commitments exceed the sum of the Outstanding Amount of Revolving Obligations (excluding the amount of any then-outstanding Swing Line Loans) as of the beginning of such day. The Unused Fee shall accrue at all times during the Revolving Commitment Period when clause (a) of the definition of “Applicable Percentage” shall be paid applicable, including periods during which the conditions to Extensions of Credit in Section 4.02 may not be met, and shall be payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date and on the Revolving Loan Maturity Date (and, if applicable, thereafter on demand); provided, that (i) no Unused Fee shall accrue on the Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (ii) any Unused Fee accrued with respect to the Revolving Credit Lenders 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. For purposes of clarification, Swing Line Lender from its own funds (and Loans shall not be considered outstanding for purposes of determining the Borrowers shall have no liability with respect thereto)unused portion of the Aggregate Revolving Commitments. The Administrative Agent shall pay distribute the Line Unused Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their pro rata share of an amount equal to in accordance with the aggregate Line Fee due to all respective Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, and (ii) the sum of (A) such Person's Revolving Credit Commitment Percentage Commitments of the principal amount of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/Cs. The Unused Fee shall be paid in arrears, on the first day of each quarter after the execution of this Agreement and on the Termination DateLenders.

Appears in 1 contract

Samples: Credit Agreement (Sabra Health Care REIT, Inc.)

Unused Fee. In addition to any other fee to be paid by the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall pay to the Administrative Agent for the account of the Revolving Credit Lenders, Lenders an unused commitment fee (the Unused Fee. If the ”) in U.S. Dollars computed each day, on each Lender’s Adjusted Unused Fee actually paid by the Borrowers is insufficient to pay an amount equal to the Line Fee to the Revolving Credit Lenders, the deficiency shall be paid to the Revolving Credit Lenders by the Swing Line Lender from its own funds Commitment (and the Borrowers shall have no liability with respect thereto). The Administrative Agent shall pay the Line Fee (and excluding any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their pro rata share of an amount equal to the aggregate Line Fee due to all Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, and (ii) the sum of (A) such Person's Revolving Credit Commitment Percentage of the principal amount of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), from the Agreement Date until the Maturity Date at a rate per annum equal to the Applicable Margin for the Unused Fee in effect from time to time, which fee shall be due and payable quarterly in arrears on the last day of each calendar quarter (Bcommencing with the calendar quarter ending June 30, 2008) and, if then unpaid, on the Maturity Date; provided, however, that any Unused Fee accrued with respect to any Commitment of a Defaulting Lender during the period prior to the time such Person's Revolving Credit Commitment Percentage of Lender became a Defaulting Lender and unpaid at such time shall not be payable by the then undrawn Stated Amount of outstanding L/Cs. The Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that such Unused Fee shall otherwise have been due and payable by the Borrowers prior to such time; and provided further that no Unused Fee shall accrue on any Commitment of a Defaulting Lender so long as such Lender shall be paid in arrears, on the first day of each quarter after the execution of this Agreement and on the Termination Datea Defaulting Lender.

Appears in 1 contract

Samples: Credit Agreement (Agco Corp /De)

Unused Fee. In addition to any other fee to be paid by the Borrowers on account consideration of the Revolving CreditCommitments, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall Borrower agrees to pay to the Administrative Agent for the account ratable benefit of the Revolving Credit Lenders, Lenders holding Revolving Commitments an unused fee (the "Unused Fee. If the Unused Fee actually paid by the Borrowers is insufficient to pay ") in an amount equal to the Line Fee to Applicable Percentage per annum times the average daily unused amount of the Aggregate Revolving Credit Lenders, the deficiency shall be paid to the Revolving Credit Lenders by the Swing Line Lender from its own funds (and the Borrowers shall have no liability with respect thereto). The Administrative Agent shall pay the Line Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their pro rata share of an amount equal to the aggregate Line Fee due to all Revolving Credit LendersCommitted Amount; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between that (i) no Unused Fee shall accrue on any of the sum Revolving Commitments of a Defaulting Lender so long as such Person's Revolving Credit Commitment, Lender shall be a Defaulting Lender and (ii) any Unused Fee accrued with respect to the sum Revolving Commitments of (A) a Defaulting Lender during the period prior to the time such Person's Revolving Credit Commitment Percentage 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. For purposes of computation of the principal amount Unused Fee, LOC Obligations shall be considered usage of the Aggregate Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/CsCommitted Amount. The Unused Fee shall be paid payable quarterly in arrears on the 15th day following the last day of each calendar quarter for the prior calendar quarter, commencing with the first such date to occur after the Closing Date, and on the Revolving Maturity Date (and, if applicable, thereafter on demand). The Unused Fee shall be calculated quarterly in arrears, on and if there is any change in the first day of Applicable Percentage during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Percentage separately for each period during such quarter after the execution of this Agreement and on the Termination Datethat such Applicable Percentage was in effect.

Appears in 1 contract

Samples: Credit Agreement (Henry Jack & Associates Inc)

Unused Fee. In addition From and after the Closing Date, the Borrower agrees to any other fee to be paid by the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall pay to the Administrative Agent for the account ratable benefit of the Revolving Credit LendersLenders an unused fee (the “Unused Fee”) computed at the Unused Fee Rate on the average daily amount of the Available Commitments during the period for which payment is made. To the extent applicable, the Unused Fee. If Fee shall accrue at all times during the Commitment Period (and thereafter so long as Revolving Obligations shall remain outstanding), including periods during which the conditions to Extensions of Credit in Section 4.02 may not be met, and shall be payable quarterly in arrears on the fifth (5th) day following the last day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Termination Date (and, if applicable, thereafter on demand); provided that pursuant to Section 2.15(a)(iii), (i) no Unused Fee actually paid shall accrue on the Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (ii) any Unused Fee accrued with respect to the 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 Borrowers is insufficient to pay an amount equal to the Line Fee to the Revolving Credit Lenders, the deficiency Borrower so long as such Lender shall be paid to the Revolving Credit Lenders by the Swing Line Lender from its own funds (and the Borrowers shall have no liability with respect thereto)a Defaulting Lender. The Administrative Agent shall pay distribute the Line Unused Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their pro rata share of an amount equal to in accordance with the aggregate Line Fee due to all respective Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, and (ii) the sum of (A) such Person's Revolving Credit Commitment Percentage Commitments of the principal amount of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/Cs. The Unused Fee shall be paid in arrears, on the first day of each quarter after the execution of this Agreement and on the Termination DateLenders.

Appears in 1 contract

Samples: Credit Agreement (Griffin-American Healthcare REIT II, Inc.)

Unused Fee. In addition From and after the Closing Date, the Borrower agrees to any other fee to be paid by the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall pay to the Administrative Agent for the account ratable benefit of the Revolving Credit LendersLenders an unused fee (the “Unused Fee”) computed at the Unused Fee Rate on the average daily amount of the Available Commitments during the period for which payment is made. To the extent applicable, the Unused Fee. If Fee shall accrue at all times during the Commitment Period (and thereafter so long as Revolving Obligations shall remain outstanding), including periods during which the conditions to Extensions of Credit in Section 4.02 may not be met, and shall be payable quarterly in arrears on the tenth (10th) day following the last day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Termination Date (and, if applicable, thereafter on demand); provided that pursuant to Section 2.15(a)(iii), (i) no Unused Fee actually paid shall accrue on the Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (ii) any Unused Fee accrued with respect to the 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 Borrowers is insufficient to pay an amount equal to the Line Fee to the Revolving Credit Lenders, the deficiency Borrower so long as such Lender shall be paid to the Revolving Credit Lenders by the Swing Line Lender from its own funds (and the Borrowers shall have no liability with respect thereto)a Defaulting Lender. The Administrative Agent shall pay distribute the Line Unused Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their pro rata share of an amount equal to in accordance with the aggregate Line Fee due to all respective Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, and (ii) the sum of (A) such Person's Revolving Credit Commitment Percentage Commitments of the principal amount of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/Cs. The Unused Fee shall be paid in arrears, on the first day of each quarter after the execution of this Agreement and on the Termination DateLenders.

Appears in 1 contract

Samples: Credit Agreement (Griffin-American Healthcare REIT III, Inc.)

Unused Fee. In addition to any other fee to be paid by the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall Borrower will pay to the Administrative Agent Agent, for the pro rata account of the Revolving Credit LendersLenders in accordance with their Percentages, an ongoing Unused Fee (the Unused Fee. If ”) from the Unused Fee actually paid by the Borrowers is insufficient Closing Date to pay an amount equal to the Line Fee to and including the Revolving Credit LendersCommitment Termination Date, payable quarterly in arrears on the deficiency shall be paid to last Business Day of each calendar quarter, computed as the Revolving Credit Lenders by the Swing Line Lender from its own funds (and the Borrowers shall have no liability with respect thereto). The Administrative Agent shall pay the Line Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their pro rata share product of an amount equal to the aggregate Line Fee due to all Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum an annual rate equal to one-half of such Person's Revolving Credit Commitment, one percent (.5%) and (ii) the sum of daily average amount by which (A) the sum of the Aggregate Revolving Commitment Amount exceeds (B) the Revolving Facility Outstanding Amount; provided, however, in the event any Lender becomes a Defaulting Lender as a result of a circumstance described in clause (a) or (d) of the definition of Defaulting Lender, then, for the period of time such Person's Revolving Credit Commitment Lender is a Defaulting Lender as a result of a circumstance described in clause (a) or (d) of the definition of Defaulting Lender, the Unused Fee shall cease to accrue on such Defaulting Lender’s Percentage of the principal amount difference between the Aggregate Revolving Commitment Amount and the Revolving Facility Outstanding Amount and such Defaulting Lender shall not be entitled to receive any portion of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/Cs. The Unused Fee with respect to such period of time. Any Unused Fee remaining unpaid on the Revolving Commitment Termination Date shall be paid in arrears, due and payable on the first day of each quarter after the execution of this Agreement and on the Termination Datesuch date.

Appears in 1 contract

Samples: Credit Agreement (Select Comfort Corp)

Unused Fee. In addition to any other fee to be paid by During the term of the Loan, the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall agree to pay to the Administrative Agent for the account ratable benefit of the Revolving Credit Lenders, Lenders an unused fee (the Unused Fee. If the Unused Fee actually paid by the Borrowers is insufficient to pay ”) for each calendar quarter (or portion thereof) in an amount equal to the Line sum of the Daily Unused Fees incurred during such period. The Unused Fee shall accrue at all times during the Commitment Period (and thereafter so long as Obligations shall remain outstanding), including periods during which the conditions to Advances in Section 4.02 may not be met, and shall be payable quarterly in arrears on the last day of each March, June, September and December, commencing with the first such date to occur after the Original Closing Date, and on the Maturity Date (and, if applicable, thereafter on demand); provided, that (i) no Unused Fee shall accrue on the Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (ii) any Unused Fee accrued with respect to the Revolving Credit Lenders, Commitment of a Defaulting Lender during the deficiency 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 paid to the Revolving Credit Lenders by the Swing Line Lender from its own funds (and the Borrowers shall have no liability with respect thereto)a Defaulting Lender. The Administrative Agent shall pay distribute the Line Unused Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their (other than Defaulting Lenders) pro rata share of an amount equal to in accordance with the aggregate Line Fee due to all Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, and (ii) the sum of (A) such Person's Revolving Credit Commitment Percentage respective Commitments of the principal amount of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/Cs. The Unused Fee shall be paid in arrears, on the first day of each quarter after the execution of this Agreement and on the Termination DateLenders.

Appears in 1 contract

Samples: Credit Agreement (Brookdale Senior Living Inc.)

Unused Fee. In addition to any other fee to be paid by From and after the Closing Date, the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall agree to pay to the Administrative Agent for the account ratable benefit of the Revolving Credit Lenders, Lenders an unused fee (the Unused Fee. If the Unused Fee actually paid by the Borrowers is insufficient to pay ”) for each calendar quarter (or portion thereof) in an amount equal to the Line sum of the Daily Unused Fees incurred during such period. The Unused Fee shall accrue at all times during the Commitment Period (and thereafter so long as Obligations shall remain outstanding), including periods during which the conditions to Advances in Section 4.02 may not be met, and shall be payable quarterly in arrears on the last day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Maturity Date (and, if applicable, thereafter on demand); provided, that (i) no Unused Fee shall accrue on the Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (ii) any Unused Fee accrued with respect to the Revolving Credit Lenders, Commitment of a Defaulting Lender during the deficiency 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 paid to the Revolving Credit Lenders by the Swing Line Lender from its own funds (and the Borrowers shall have no liability with respect thereto)a Defaulting Lender. The Administrative Agent shall pay distribute the Line Unused Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their pro rata share of an amount equal to in accordance with the aggregate Line Fee due to all Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, and (ii) the sum of (A) such Person's Revolving Credit Commitment Percentage respective Commitments of the principal amount of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/Cs. The Unused Fee shall be paid in arrears, on the first day of each quarter after the execution of this Agreement and on the Termination DateLenders.

Appears in 1 contract

Samples: Credit Agreement (Brookdale Senior Living Inc.)

Unused Fee. In addition From and after the Closing Date, the Borrower agrees to any other fee to be paid by the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall pay to the Administrative Agent for the account ratable benefit of the Revolving Credit Lenders, Lenders an unused fee (the Unused Fee. If the Unused Fee actually paid by the Borrowers is insufficient to pay ”) in an amount equal to the Line Fee (a) 0.35% per annum (or 0.50% per annum to the Revolving Credit Lendersextent that as of the beginning of any day, the deficiency Outstanding Amount of Revolving Obligations (excluding the amount of any then-outstanding Swing Line Loans) is equal to or less than 50% of the Aggregate Revolving Commitments), multiplied by (b) the amount by which the Aggregate Revolving Commitments exceed the sum of the Outstanding Amount of Revolving Obligations (excluding the amount of any then-outstanding Swing Line Loans) as of the beginning of such day. The Unused Fee shall accrue at all times during the Commitment Period, including periods during which the conditions to Extensions of Credit in Section 4.02 may not be met, and shall be paid payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date and on the Maturity Date (and, if applicable, thereafter on demand); provided, that (i) no Unused Fee shall accrue on the Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (ii) any Unused Fee accrued with respect to the Revolving Credit Lenders 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. For purposes of clarification, Swing Line Lender from its own funds (and Loans shall not be considered outstanding for purposes of determining the Borrowers shall have no liability with respect thereto)unused portion of the Aggregate Commitments. The Administrative Agent shall pay distribute the Line Unused Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their pro rata share of an amount equal to in accordance with the aggregate Line Fee due to all respective Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, and (ii) the sum of (A) such Person's Revolving Credit Commitment Percentage Commitments of the principal amount of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/Cs. The Unused Fee shall be paid in arrears, on the first day of each quarter after the execution of this Agreement and on the Termination DateLenders.

Appears in 1 contract

Samples: Credit Agreement (Sabra Health Care REIT, Inc.)

Unused Fee. In addition to any other fee to From and after the Closing Date and during such times in which clause (a) of the definition of “Applicable Percentage” shall be paid by applicable, the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall agree to pay to the Administrative Agent for the account ratable benefit of the Revolving Credit Lenders, Lenders an unused fee (the Unused Fee. If the Unused Fee actually paid by the Borrowers is insufficient to pay ”) for each calendar quarter (or portion thereof) in an amount equal to the Line sum of the Daily Unused Fees incurred during such period. The Unused Fee shall accrue at all times during the Commitment Period when clause (a) of the definition of “Applicable Percentage” shall be applicable, including periods during which the conditions to Extensions of Credit in Section 4.02 may not be met, and shall be payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date and on the Maturity Date, as applicable (and, if applicable, thereafter on demand); provided, that (i) no Unused Fee shall accrue on the Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (ii) any Unused Fee accrued with respect to the Revolving Credit Lenders, Commitment of a Defaulting Lender during the deficiency period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be paid to the Revolving Credit Lenders by the a Defaulting Lender. For purposes of clarification, Swing Line Lender from its own funds (and Loans shall not be considered outstanding for purposes of determining the Borrowers shall have no liability with respect thereto)unused portion of the Aggregate Commitments. The Administrative Agent shall pay distribute the Line Unused Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their pro rata share of an amount equal to in accordance with the aggregate Line Fee due to all Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, and (ii) the sum of (A) such Person's Revolving Credit Commitment Percentage respective Commitments of the principal amount of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/Cs. The Unused Fee shall be paid in arrears, on the first day of each quarter after the execution of this Agreement and on the Termination DateLenders.

Appears in 1 contract

Samples: Credit Agreement (Aviv Healthcare Properties L.P.)

Unused Fee. In addition to any other fee to be paid by During the term of the Loan, the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall agree to pay to the Administrative Agent for the account ratable benefit of the Revolving Credit Lenders, Lenders an unused fee (the Unused Fee. If the Unused Fee actually paid by the Borrowers is insufficient to pay ”) for each calendar quarter (or portion thereof) in an amount equal to the Line sum of the Daily Unused Fees incurred during such period. The Unused Fee shall accrue at all times during the Revolving Loan Commitment Period (and thereafter so long as Obligations shall remain outstanding), including periods during which the conditions to Advances in Section 4.02 may not be met, and shall be payable quarterly in arrears on each Payment Date in April, July, October and January for the immediately preceding calendar quarter, commencing with the first such date to occur after the Closing Date, and on the Maturity Date (and, if applicable, thereafter on demand); provided, that (i) no Unused Fee shall accrue on the Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (ii) any Unused Fee accrued with respect to the Revolving Credit Lenders, Commitment of a Defaulting Lender during the deficiency 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 paid to the Revolving Credit Lenders by the Swing Line Lender from its own funds (and the Borrowers shall have no liability with respect thereto)a Defaulting Lender. The Administrative Agent shall pay distribute the Line Unused Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their (other than Defaulting Lenders) pro rata share of an amount equal to in accordance with the aggregate Line Fee due to all Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, and (ii) the sum of (A) such Person's Revolving Credit Commitment Percentage respective Commitments of the principal amount of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/Cs. The Unused Fee shall be paid in arrears, on the first day of each quarter after the execution of this Agreement and on the Termination DateLenders.

Appears in 1 contract

Samples: Credit Agreement (Brookdale Senior Living Inc.)

Unused Fee. In addition to any other fee to be paid by From and after the Funding Date, the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall agree to pay to the Administrative Agent for the account ratable benefit of the Revolving Credit Lenders, Lenders an unused fee (the Unused Fee. If the Unused Fee actually paid by the Borrowers is insufficient to pay ”) for each calendar month (or portion thereof) in an amount equal to the Line sum of the Daily Unused Fees incurred during such period. The Unused Fee shall accrue at all times during the Commitment Period, including periods during which the conditions to Extensions of Credit in Section 4.02 may not be met, and shall be payable monthly in arrears on the first Business Day of each calendar month (commencing with the first such date to occur after the Funding Date) and on the Maturity Date; provided, that (i) no Unused Fee shall accrue on the Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (ii) any Unused Fee accrued with respect to the Revolving Credit Lenders, Commitment of a Defaulting Lender during the deficiency period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be paid to the Revolving Credit Lenders by the Swing Line Lender from its own funds (and the Borrowers shall have no liability with respect thereto)a Defaulting Lender. The Administrative Agent shall pay distribute the Line Unused Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their pro rata share of an amount equal to in accordance with the aggregate Line Fee due to all respective Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, and (ii) the sum of (A) such Person's Revolving Credit Commitment Percentage Commitments of the principal amount of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/CsLenders. The Unused Fee shall be fully earned when paid in arrears, on the first day of each quarter after the execution of this Agreement and on the Termination Dateshall not be refundable for any reason whatsoever.

Appears in 1 contract

Samples: Credit Agreement (Aviv Healthcare Properties L.P.)

Unused Fee. In addition to any other fee to be paid by For the Borrowers period beginning on account of the Closing Date and ending on the Revolving CreditCredit Termination Date, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall Borrower agrees to pay to the Administrative Agent Agent, for the account benefit of the Lenders based on their Applicable Commitment Percentages, an unused fee equal to, as to each Lender, the Applicable Unused Fee multiplied by the average daily amount by which the Revolving Credit Lenders, Commitment of such Lender (calculated without giving effect to clause (i) of the Unused Fee. If the Unused Fee actually paid by the Borrowers is insufficient to pay an amount equal to the Line Fee to the definition of "Total Revolving Credit Lenders, Commitment") exceeds the deficiency shall be paid to the Revolving Credit Lenders by the Swing Line Lender from its own funds sum of (and the Borrowers shall have no liability with respect thereto). The Administrative Agent shall pay the Line Fee (and any amounts payable by the Swing Line Lender hereunderi) to the Revolving Credit Lenders based upon their such Lender's pro rata share of an amount equal to the aggregate Line Fee due to all (x) Revolving Credit LendersOutstandings (without giving effect to Swing Line Outstandings or outstanding Competitive Bid Loans) plus (y) Letter of Credit Outstandings plus (ii) the outstanding principal amount of all Competitive Bid Loans then held by such Lender; provided thatthat in no event shall such amount as to any Lender be a negative number. Such fees shall be due in arrears on the last Business Day of each March, for purposes June, September and December commencing September 30, 1996 to and on the Revolving Credit Termination Date. Notwithstanding the foregoing, so long as any Lender fails to make available any portion of calculating the its Revolving Credit Commitment when required to do so in accordance with this Agreement, such Lender shall not be entitled to receive payment of its pro rata share of any Person which is both the Swing Line such fee until such Lender and a Revolving Credit Lender, shall make available such Person's share portion. Such fee shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, and (ii) the sum of (A) such Person's Revolving Credit Commitment Percentage of the principal amount of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/Cs. The Unused Fee shall be paid in arrears, calculated on the first day basis of each quarter after a year of 360 days for the execution actual number of this Agreement and on the Termination Datedays elapsed.

Appears in 1 contract

Samples: Credit Agreement (Medpartners Inc)

AutoNDA by SimpleDocs

Unused Fee. In addition to any other fee to be paid by From and after the Borrowers on account Closing Date and during such times in which clause (a) of the Revolving Credit, each Revolving Credit Lender definition of “Applicable Percentage” shall be paid applicable, the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall Parent Borrower agrees to pay to the Administrative Agent for the account ratable benefit of the Revolving Credit Lenders, Lenders an unused fee (the Unused Fee. If the Unused Fee actually paid by the Borrowers is insufficient to pay ”) in Dollars in an amount equal to the Line Fee (a) 0.25% per annum (or 0.30% per annum to the Revolving Credit Lendersextent that as of the beginning of any day, the deficiency Outstanding Amount of Revolving Obligations (excluding the amount of any then-outstanding Swing Line Loans) is equal to or less than 50% of the Aggregate Revolving Commitments), multiplied by (b) the amount by which the Aggregate Revolving Commitments exceed the sum of the Outstanding Amount of Revolving Obligations (excluding the amount of any then-outstanding Swing Line Loans) as of the beginning of such day. The Unused Fee shall accrue at all times during the Revolving Commitment Period when clause (a) of the definition of “Applicable Percentage” shall be paid applicable, including periods during which the conditions to Extensions of Credit in Section 4.02 may not be met, and shall be payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date and on the Revolving Loan Maturity Date (and, if applicable, thereafter on demand); provided, that (i) no Unused Fee shall accrue on the Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (ii) any Unused Fee accrued with respect to the Revolving Credit Lenders 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 Parent Borrower so long as such Lender shall be a Defaulting Lender. For purposes of clarification, Swing Line Lender from its own funds (and Loans shall not be considered outstanding for purposes of determining the Borrowers shall have no liability with respect thereto)unused portion of the Aggregate Revolving Commitments. The Administrative Agent shall pay distribute the Line Unused Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their pro rata share of an amount equal to in accordance with the aggregate Line Fee due to all respective Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, and (ii) the sum of (A) such Person's Revolving Credit Commitment Percentage of the principal amount Commitments of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/Cs. The Unused Fee shall be paid in arrears, on the first day of each quarter after the execution of this Agreement and on the Termination DateLenders.

Appears in 1 contract

Samples: Credit Agreement (Sabra Health Care REIT, Inc.)

Unused Fee. In addition to any other fee to be paid by From and after the Closing Date, the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall agree to pay to the Administrative Agent for the account ratable benefit of the Revolving Credit Lenders, Lenders an unused fee (the Unused Fee. If the Unused Fee actually paid by the Borrowers is insufficient to pay ”) for each calendar quarter (or portion thereof) in an amount equal to the Line sum of the Daily Unused Fees incurred during such period. The Unused Fee shall accrue at all times during the Commitment Period, including periods during which the conditions to Extensions of Credit in Section 4.03 may not be met, and shall be payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date and on the Maturity Date (and, if applicable, thereafter on demand); provided, that (i) no Unused Fee shall accrue on the Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (ii) any Unused Fee accrued with respect to the Revolving Credit Lenders, Commitment of a Defaulting Lender during the deficiency 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 paid to the Revolving Credit Lenders by the a Defaulting Lender. For purposes of clarification, Swing Line Lender from its own funds (and Loans shall not be considered outstanding for purposes of determining the Borrowers shall have no liability with respect thereto)unused portion of the Aggregate Commitments. The Administrative Agent shall pay distribute the Line Unused Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their pro rata share of an amount equal to in accordance with the aggregate Line Fee due to all respective Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, and (ii) the sum of (A) such Person's Revolving Credit Commitment Percentage Commitments of the principal amount of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/Cs. The Unused Fee shall be paid in arrears, on the first day of each quarter after the execution of this Agreement and on the Termination DateLenders.

Appears in 1 contract

Samples: Credit Agreement (Bellingham II Associates, L.L.C.)

Unused Fee. In addition to any other fee to be paid by During the term of the Loan, the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall agree to pay to the Administrative Agent for the account ratable benefit of the Revolving Credit Lenders, Lenders an unused fee (the "Unused Fee. If the Unused Fee actually paid by the Borrowers is insufficient to pay ") for each calendar quarter (or portion thereof) in an amount equal to the Line sum of the Daily Unused Fees incurred during such period. The Unused Fee shall accrue at all times during the Commitment Period (and thereafter so long as Obligations shall remain outstanding), including periods during which the conditions to Advances in Section 4.02 may not be met, and shall be payable quarterly in arrears on the last day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Maturity Date (and, if applicable, thereafter on demand); provided, that (i) no Unused Fee shall accrue on the Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (ii) any Unused Fee accrued with respect to the Revolving Credit Lenders, Commitment of a Defaulting Lender during the deficiency 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 paid to the Revolving Credit Lenders by the Swing Line Lender from its own funds (and the Borrowers shall have no liability with respect thereto)a Defaulting Lender. The Administrative Agent shall pay distribute the Line Unused Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their (other than Defaulting Lenders) pro rata share of an amount equal to in accordance with the aggregate Line Fee due to all Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, and (ii) the sum of (A) such Person's Revolving Credit Commitment Percentage respective Commitments of the principal amount of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/Cs. The Unused Fee shall be paid in arrears, on the first day of each quarter after the execution of this Agreement and on the Termination DateLenders.

Appears in 1 contract

Samples: Credit Agreement (Brookdale Senior Living Inc.)

Unused Fee. In addition to any other fee to be paid by From and after the Closing Date, the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall agree to pay to the Administrative Agent for the account ratable benefit of the Revolving Credit Lenders, Lenders an unused fee (the Unused Fee. If the Unused Fee actually paid by the Borrowers is insufficient to pay ”) for each calendar month (or portion thereof) in an amount equal to the Line sum of the Daily Unused Fees incurred during such period. The Unused Fee shall accrue at all times during the Revolving Commitment Period, including periods during which the conditions to Advances in Section 4.02 may not be met, and shall be payable monthly in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, and ending on the Revolving Commitment Termination Date; provided, that (i) no Unused Fee shall accrue on the Revolving Loan Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (ii) any Unused Fee accrued with respect to the Revolving Credit Lenders, Loan Commitment of a Defaulting Lender during the deficiency 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 paid to the Revolving Credit Lenders by the Swing Line Lender from its own funds (and the Borrowers shall have no liability with respect thereto)a Defaulting Lender. The Administrative Agent shall pay distribute the Line Unused Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their pro rata share of an amount equal to in accordance with the aggregate Line Fee due to all Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, and (ii) the sum of (A) such Person's Revolving Credit respective Commitment Percentage Ratios of the principal amount of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/CsLenders. The Unused Fee shall be fully earned when paid in arrears, on the first day of each quarter after the execution of this Agreement and on the Termination Dateshall not be refundable for any reason whatsoever.

Appears in 1 contract

Samples: Credit Agreement (Bellingham II Associates, L.L.C.)

Unused Fee. In addition to any other fee to be paid by the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall pay to the Administrative Agent for the account of each Lender with a Revolving Commitment or Delayed Draw Term Loan Commitment (except as provided in Section 2.6) an unused fee (the “Unused Fee”), (a) in the case of Unused Fees in respect of the Revolving Credit LendersCommitments, for the Unused Fee. If period from the Closing Date to the Termination Date, at the Unused Fee actually paid by the Borrowers is insufficient Rate in effect from time to pay an amount equal time of that Lender’s Pro Rata Share (as adjusted from time to the Line Fee to the Revolving Credit Lenders, the deficiency shall be paid to the Revolving Credit Lenders by the Swing Line Lender from its own funds (and the Borrowers shall have no liability with respect thereto). The Administrative Agent shall pay the Line Fee (and any amounts payable by the Swing Line Lender hereundertime) to the Revolving Credit Lenders based upon their pro rata share of an amount equal to the aggregate Line Fee due to all Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, and (ii) the sum of (A) such Person's Revolving Credit Commitment Percentage of the principal average daily unused amount of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding)Commitments, and (Bb) such Person's Revolving Credit Commitment Percentage in the case of Unused Fees in respect of the Delayed Draw Term Loan Commitments, during the Delayed Draw Term Loan Availability Period, at the Unused Fee Rate in effect from time to time of that Lender’s Pro Rata Share (as adjusted from time to time) of the average daily unused amount of the Delayed Draw Term Loan Commitments. For purposes of calculating usage under this Section 5.1, the Revolving Commitments will be deemed used to the extent of Revolving Outstandings. That Unused Fee will be payable in arrears on the last Business Day of each Fiscal Quarter, on the last day of the Delayed Draw Term Loan Availability Period (solely in the case of Unused Fees in respect of the Delayed Draw Term Loan Commitments) and on the Termination Date for any period then undrawn Stated Amount of outstanding L/Csending for which that Unused Fee has not have previously been paid. The Unused Fee shall will be paid in arrears, computed for the actual number of days elapsed on the first day basis of each quarter after the execution a year of this Agreement and on the Termination Date360 days.

Appears in 1 contract

Samples: Credit Agreement (Digital Media Solutions, Inc.)

Unused Fee. In addition to any other fee to be paid by the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers (i) PRA shall pay to the Administrative Agent Agent, for the account of the each Domestic Revolving Credit LendersA Lender in accordance with its Applicable Percentage, the Unused Fee. If the Unused Fee actually paid by the Borrowers is insufficient to pay an amount unused line fee at a rate per annum equal to the Line Fee to product of (A) the Applicable Rate times (B) the actual daily amount by which the Aggregate Domestic Revolving Credit Lenders, the deficiency shall be paid to the Revolving Credit Lenders by the Swing Line Lender from its own funds (and the Borrowers shall have no liability with respect thereto). The Administrative Agent shall pay the Line Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their pro rata share of an amount equal to the aggregate Line Fee due to all Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) A Commitments exceed the sum of such Person's (y) the Outstanding Amount of Domestic Revolving Credit CommitmentA Loans and (z) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.15, and (ii) the sum Canadian Borrower shall pay to the Canadian Administrative Agent, for the account of each Canadian Revolving Lender in accordance with its Applicable Percentage, an unused line fee at a rate per annum equal to the product of (A) such Person's the Applicable Rate times (B) the actual daily amount by which the Aggregate Canadian Revolving Credit Commitment Percentage Commitments exceed the Outstanding Amount of Canadian Revolving Loans (the fee payable pursuant to clauses (i) and (ii), the “Unused Fee”). The Unused Fee shall accrue at all times during the Availability Period, including at any time during which one or more of the principal amount conditions in Article V is not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on theon the date of any reduction of the Domestic Revolving Loans then outstanding A Commitments or the Canadian Revolving Commitments and on the applicable Maturity Date; provided, that (including A) no Unused Fee shall accrue on the principal amount Commitment of Swing Line Loans then outstanding), a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (B) any Unused Fee accrued with respect to the Commitment of a Defaulting Lender during the period prior to the time such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/CsLender became a Defaulting Lender and unpaid at such time shall not be payable by PRA so long as such Lender shall be a Defaulting Lender. The Unused Fee shall be paid calculated quarterly in arrears, on and 77 if there is any change in the first day Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. For purposes of each quarter after clarification, Swing Line Loans shall not be considered outstanding for purposes of determining the execution unused portion of this Agreement and on the Termination DateAggregate Domestic Revolving A Commitments.

Appears in 1 contract

Samples: Credit Agreement (Pra Group Inc)

Unused Fee. In addition Borrower shall, for each day during the term of this Agreement (i) on which there exist any Revolving Credit Commitments and (ii) that the Applicable Rate is determined pursuant to any other fee to be paid by the Borrowers on account clause (a) of the Revolving Creditdefinition of Applicable Rate, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall pay to the Administrative Agent for the account of each Revolving Credit Lender holding a Revolving Credit Commitment (in accordance with such Lender’s Applicable Revolving Credit Percentage thereof), an unused fee (the “Revolving Unused Fee”) equal to the Revolving Unused Rate times the actual daily amount by which the Revolving Credit LendersFacility exceeds the Outstanding Amount of Revolving Credit Loans as of such date, subject to adjustment as provided in Section 2.17. For the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be counted towards or considered usage of the Revolving Credit Commitments for purposes of determining the Revolving Unused Fee. If the The Revolving Unused Fee actually paid by shall accrue at all times during the Borrowers term of this Agreement at which there exist any Revolving Credit Commitments, including at any time during which one or more of the conditions in Article V is insufficient not met. The Revolving Unused Fee shall be calculated for each calendar quarter in arrears, based on the applicable daily Revolving Unused Rate during each day of such calendar quarter or portion thereof and shall be due and payable on the fifth day of each January, April, July and October (or the next succeeding Business Day if such day is not a Business Day), commencing on January 5, 2018 (with such initial payment to pay an amount equal to include such fees commencing from the Line Fee Closing Date), and on the Maturity Date with respect to the Revolving Credit Lenders, the deficiency shall be paid to the Revolving Credit Lenders by the Swing Line Lender from its own funds (and the Borrowers shall have no liability with respect thereto). The Administrative Agent shall pay the Line Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their pro rata share of an amount equal to the aggregate Line Fee due to all Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, and (ii) the sum of (A) such Person's Revolving Credit Commitment Percentage of the principal amount of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/Cs. The Unused Fee shall be paid in arrears, on the first day of each quarter after the execution of this Agreement and on the Termination DateFacility.

Appears in 1 contract

Samples: Credit Agreement (Armada Hoffler Properties, Inc.)

Unused Fee. In addition From and after the Closing Date, the Borrower agrees to any other fee to be paid by the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall pay to the Administrative Agent for the account ratable benefit of the Revolving Credit LendersLenders an unused fee (the “Unused Fee”) computed at the Unused Fee Rate on the average daily amount of the Available Commitments during the period for which payment is made. To the extent applicable, the Unused Fee. If Fee shall accrue at all times during the Commitment Period (and thereafter so long as Revolving Obligations shall remain outstanding), including periods during which the conditions to Extensions of Credit in Section 4.02 may not be met, and shall be payable quarterly in arrears on the tenth (10th) day following the last day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Termination Date (and, if applicable, thereafter on demand); provided that pursuant to Section 2.15(a)(iii), (i) no Unused Fee actually paid by shall accrue on the Borrowers is insufficient to pay an amount equal to the Line Revolving Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (ii) any Unused Fee accrued with respect to the Revolving Credit Lenders, Commitment of a Defaulting Lender during the deficiency 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 paid to the Revolving Credit Lenders by the Swing Line Lender from its own funds (and the Borrowers shall have no liability with respect thereto)a Defaulting Lender. The Administrative Agent shall pay distribute the Line Unused Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their pro rata share of an amount equal to in accordance with the aggregate Line Fee due to all respective Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, and (ii) the sum of (A) such Person's Revolving Credit Commitment Percentage Commitments of the principal amount of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/Cs. The Unused Fee shall be paid in arrears, on the first day of each quarter after the execution of this Agreement and on the Termination DateLenders.

Appears in 1 contract

Samples: Credit Agreement (Griffin-American Healthcare REIT IV, Inc.)

Unused Fee. In addition During the Term Loan Commitment Period, the Borrower agrees to any other fee to be paid by the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall pay to the Administrative Agent for the account ratable benefit of the Revolving Credit Lenders, Term Loan Lenders an unused fee (the Unused Fee. If the Unused Fee actually paid by the Borrowers is insufficient to pay ”) in an amount equal to (a) 0.30% per annum, multiplied by (b) the Line amount of the unused Term Loan Commitments as of the beginning of each day. To the extent applicable, the Unused Fee shall accrue at all times during the Term Loan Commitment Period (for so long as Term Loan Commitments shall remain outstanding), including periods during which the conditions to Extensions of Credit in Section 4.02 may not be met, and shall be payable in a single payment on the last day of the Term Loan Commitment Period; provided, that, pursuant to Section 2.12(a)(iii), (i) no Unused Fee shall accrue on the Term Loan Commitment of a Defaulting Lender so long as such Term Loan Lender shall be a Defaulting Lender and (ii) any Unused Fee accrued with respect to the Revolving Credit Lenders, Term Loan Commitment of a Defaulting Lender during the deficiency period prior to the time such Term Loan Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrower so long as such Term Loan Lender shall be paid to the Revolving Credit Lenders by the Swing Line Lender from its own funds (and the Borrowers shall have no liability with respect thereto)a Defaulting Lender. The Administrative Agent shall pay distribute the Line Unused Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Term Loan Lenders based upon their pro rata share of an amount equal to in accordance with the aggregate Line Fee due to all Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, and (ii) the sum of (A) such Person's Revolving Credit Commitment Percentage respective Term Loan Commitments of the principal amount of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/Cs. The Unused Fee shall be paid in arrears, on the first day of each quarter after the execution of this Agreement and on the Termination DateTerm Loan Lenders.

Appears in 1 contract

Samples: Credit Agreement (Omega Healthcare Investors Inc)

Unused Fee. In addition During the Commitment Period, the Lessor agrees to any other fee pay or to cause to be paid by the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall pay to the Administrative Agent for the account of (a) the Revolving Credit Lenders, respectively, an unused fee (the "Lender Unused Fee. If ") equal to the product of the average daily ----------------- Available Commitment of each Lender during the Commitment Period multiplied by the Applicable Percentage and (b) the Holders, respectively, an unused fee (the "Holder Unused Fee") equal to the product of the average daily Available Holder ------------------ Commitment of each Holder during the Commitment Period multiplied by the Applicable Percentage; provided, however, the Lessor shall pay such amounts -------- ------- described in this Section 7.4 only if (i) such amounts are properly described in a Requisition delivered on or before the Unused Fee actually paid by the Borrowers is insufficient to pay an amount equal to the Line Fee to the Revolving Credit Lenders, the deficiency shall be paid to the Revolving Credit Lenders by the Swing Line Lender from its own funds (and the Borrowers shall have no liability with respect thereto). The Administrative Agent shall pay the Line Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their pro rata share of an amount equal to the aggregate Line Fee due to all Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, Payment Date and (ii) funds are made available by the sum Lenders and the Holders in connection with such Requisition in an amount sufficient to allow such payment; provided, further, -------- ------- the Lessee agrees to timely pay all amounts referred to in this Section 7.4 to the extent not paid by the Lessor. Such Unused Fees shall be payable quarterly in arrears on each Unused Fee Payment Date. If all or a portion of (A) any such Person's Revolving Credit Commitment Percentage of the principal amount of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/Cs. The Unused Fee shall not be paid when due, such overdue amount shall bear interest, payable by the Lessee on demand, at a rate per annum equal to the ABR (or in arrearsthe case of Holder Yield, on the first day ABR plus the Applicable Percentage for Eurodollar Holder Advances) plus two percent (2%) from the date of each quarter after the execution of this Agreement and on the Termination Datesuch non-payment until such amount is paid in full (as well as before judgment).

Appears in 1 contract

Samples: Participation Agreement (Smart & Final Inc/De)

Unused Fee. In addition to Accruing from the date hereof until the Facility Termination Date, except for any other fee to be paid by the Borrowers period of time on account of which the Revolving CreditBorrower is obligated to pay the Facility Fee, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall Borrower agrees to pay to the Administrative Agent for the account of each Lender according to its Ratable Share, a nonrefundable unused fee (the Revolving Credit Lenders, the Unused Fee. If the Unused Fee actually paid by the Borrowers is insufficient to pay an amount ”) equal to the Line Applicable Unused Fee to Rate (computed on the Revolving Credit Lenders, the deficiency shall be paid to the Revolving Credit Lenders basis of a year of 360 days and actual days elapsed) multiplied by the Swing Line Lender from its own funds (and the Borrowers shall have no liability with respect thereto). The Administrative Agent shall pay the Line Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their pro rata share of an amount equal to the aggregate Line Fee due to all Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the average daily difference between the amount of (i) the sum Aggregate Commitment for that portion of such Person's Revolving Credit Commitment, each calendar quarter during which an Unused Fee is accruing and (ii) the sum Revolving Facility Usage for such period; provided, however, that any Unused Fee accrued with respect to the Commitment of (A) a Defaulting Lender during the period prior to the time such Person's Revolving Credit Commitment Percentage of Lender became a Defaulting Lender and unpaid at such time shall not be payable by the principal amount of Borrower so long as such Lender shall be a Defaulting Lender except to the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) extent that such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/Cs. The Unused Fee shall otherwise have been due and payable by the Borrower prior to such time; and provided further that no Unused Fee shall accrue with respect to the Commitment of a Defaulting Lender so long as such Lender shall be paid a Defaulting Lender. Subject to the proviso in arrearsthe directly preceding sentence, all Unused Fees shall be payable quarterly in arrears on the first day Business Day of each quarter after the execution of this Agreement and on the Termination Datecalendar quarter.

Appears in 1 contract

Samples: Credit Agreement (Associated Estates Realty Corp)

Unused Fee. In addition to any other fee to be paid by From and after the Closing Date, the Borrowers on account of the Revolving Credit, each Revolving Credit Lender shall be paid the Line Fee by the Administrative Agent at the times and in the manner set forth below. The Borrowers shall agree to pay to the Administrative Agent for the account ratable benefit of the Revolving Credit Lenders, Lenders an unused fee (the Unused Fee. If the Unused Fee actually paid by the Borrowers is insufficient to pay ”) in an amount equal to the Line Fee (a) 0.35% per annum (or 0.50% per annum to the Revolving Credit Lendersextent that as of the beginning of any day, the deficiency Outstanding Amount of Revolving Obligations (excluding the amount of any then-outstanding Swing Line Loans) is less than 50% of the Aggregate Revolving Commitments), multiplied by (b) the amount by which the Aggregate Revolving Commitments exceed the sum of the Outstanding Amount of Revolving Obligations (excluding the amount of any then-outstanding Swing Line Loans) as of the beginning of such day. The Unused Fee shall accrue at all times during the Commitment Period, including periods during which the conditions to Extensions of Credit in Section 4.03 may not be met, and shall be paid payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date and on the Termination Date (and, if applicable, thereafter on demand); provided, that (i) no Unused Fee shall accrue on the Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (ii) any Unused Fee accrued with respect to the Revolving Credit Lenders 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 Borrowers so long as such Lender shall be a Defaulting Lender. For purposes of clarification, Swing Line Lender from its own funds (and Loans shall not be considered outstanding for purposes of determining the Borrowers shall have no liability with respect thereto)unused portion of the Aggregate Commitments. The Administrative Agent shall pay distribute the Line Unused Fee (and any amounts payable by the Swing Line Lender hereunder) to the Revolving Credit Lenders based upon their pro rata share of an amount equal to in accordance with the aggregate Line Fee due to all respective Revolving Credit Lenders; provided that, for purposes of calculating the pro rata share of any Person which is both the Swing Line Lender and a Revolving Credit Lender, such Person's share shall be equal to the difference between (i) the sum of such Person's Revolving Credit Commitment, and (ii) the sum of (A) such Person's Revolving Credit Commitment Percentage Commitments of the principal amount of the Revolving Loans then outstanding (including the principal amount of Swing Line Loans then outstanding), and (B) such Person's Revolving Credit Commitment Percentage of the then undrawn Stated Amount of outstanding L/Cs. The Unused Fee shall be paid in arrears, on the first day of each quarter after the execution of this Agreement and on the Termination DateLenders.

Appears in 1 contract

Samples: Credit Agreement (Sabra Health Care REIT, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!