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Common use of Unused Fee Clause in Contracts

Unused Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage, an unused fee equal to the Unused Rate times the actual daily amount by which the Aggregate Commitments exceed the sum of (i) the Outstanding Amount of Committed Loans and (ii) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.18. The unused fee shall accrue at all times during the Availability Period, including at any time during which one or more of the 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 the last day of the Availability Period. The unused fee shall be calculated quarterly in arrears, and if there is any change in the Daily Usage during any quarter, the actual daily amount shall be computed and multiplied by the Unused Rate separately for each period during such quarter that such Unused Rate was in effect.

Appears in 2 contracts

Samples: Credit Agreement (Agree Realty Corp), Credit Agreement (Agree Realty Corp)

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Unused Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable PercentagePercentage in respect of the Committed Revolving Loans, an unused fee equal to the applicable Unused Rate times the actual daily amount by which the Aggregate Commitments exceed the sum of (i) the Outstanding Amount of Committed Revolving Loans and (ii) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.18. The unused fee shall accrue at all times during the Availability Period, including at any time during which one or more of the 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 the last day of the Availability Period. The unused fee shall be calculated quarterly in arrears, and if there is any change in the Daily Usage during any quarter, the actual daily amount shall be computed and multiplied by the Unused Rate separately for each period during such quarter that such Unused Rate was in effect.

Appears in 2 contracts

Samples: Credit Agreement (Sun Communities Inc), Credit Agreement (Sun Communities Inc)

Unused Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage, an unused fee equal to the applicable Unused Rate times the actual daily amount by which the Aggregate Commitments exceed the sum of (i) the Outstanding Amount of Committed Loans and (ii) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.18. The unused fee shall accrue at all times during the Availability Period, including at any time during which one or more of the 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 the last day of the Availability Period. The unused fee shall be calculated quarterly in arrears, and if there is any change in the Daily Usage during any quarter, the actual daily amount shall be computed and multiplied by the Unused Rate separately for each period during such quarter that such Unused Rate was in effect.

Appears in 2 contracts

Samples: Credit Agreement (Sun Communities Inc), Credit Agreement (Sun Communities Inc)

Unused Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage, an unused fee equal to the Unused Applicable Rate times the actual daily amount by which the Aggregate Commitments exceed the sum of (i) the Outstanding Amount of Committed Loans and (ii) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.182.16. The unused fee shall accrue at all times during the Availability Period, including at any time during which one or more of the conditions in Article V IV 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 last day of the Availability Period. The unused fee shall be calculated quarterly in arrears, and if there is any change in the Daily Usage Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Unused Applicable Rate separately for each period during such quarter that such Unused Applicable Rate was in effect.

Appears in 2 contracts

Samples: Credit Agreement (Mantech International Corp), Credit Agreement (Mantech International Corp)

Unused Fee. The Borrower Company shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage, an unused fee in Dollars equal to the Applicable Rate with respect to the Unused Rate Fee times the actual daily amount by which the Aggregate Commitments exceed the sum of (i) the Outstanding Amount of Committed Loans and (ii) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.18. The unused fee shall accrue at all times during the Availability Period, including at any time during which one or more of the conditions in Article V IV 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 last day of the Availability Period. The unused fee shall be calculated quarterly in arrears, and if there is any change in the Daily Usage Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Unused Applicable Rate separately for each period during such quarter that each such Unused Applicable Rate was in effect.

Appears in 1 contract

Samples: Credit Agreement (Nutri System Inc /De/)

Unused Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage, an unused fee equal to the Unused Applicable Rate times the difference between (i) the actual daily amount by which of the Aggregate Commitments exceed the sum of then in effect (ior, if terminated, in effect immediately prior to such termination) the Outstanding Amount of Committed Loans and (ii) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.18Total Outstandings on each day. The unused fee shall accrue at all times during the Availability Period, including at any time during which one or more of the 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 the last day of the Availability Period. The unused fee shall be calculated quarterly in arrears, arrears and if there is any change in the Daily Usage Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Unused Applicable Rate separately for each period during which such quarter that such Unused Applicable Rate was in effect. The unused fee shall accrue at all times, including at any time during which one or more of the conditions in Article IV is not met.

Appears in 1 contract

Samples: Credit Agreement (Duff & Phelps Corp)

Unused Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage, an unused fee (the “Unused Fee”) equal to the Unused Applicable Rate times the actual daily amount by which the Aggregate Commitments exceed the sum of (i) the Outstanding Amount of Committed Loans and (ii) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.18. The unused fee shall accrue at all times during the Availability Period, including at any time during which one or more of the conditions in Article V IV is not met, and shall be due and payable quarterly in arrears on the last first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the last day of the Availability PeriodMaturity Date. The unused fee shall be calculated quarterly in arrears, and if there is any change in the Daily Usage Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Unused Applicable Rate separately for each period during such quarter that such Unused Applicable Rate was in effect.

Appears in 1 contract

Samples: Senior Unsecured Revolving Credit Agreement (Wci Communities Inc)

Unused Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage, an unused fee equal to the Unused Rate times the actual daily amount by which the Aggregate Commitments exceed the sum of (i) the Outstanding Amount of Committed Loans and (ii) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.182.16. The unused fee shall accrue at all times during the Availability Period, including at any time during which one or more of the conditions in Article V VI 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 last day of the Availability Period. The unused fee shall be calculated quarterly in arrears, and if there is any change in the Daily Usage Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Unused Applicable Rate separately for each period during such quarter that such Unused Applicable Rate was in effect.

Appears in 1 contract

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

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Unused Fee. The Commencing on the ThirdFourth Amendment Effective Date, the Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable PercentageLender, an unused fee (the “Unused Fee”) equal to the Unused Rate twentythree hundred fifty (20350) basis points times the actual difference betweenactual daily amount by which the Aggregate Commitments exceed Commitment andexceeds the sum of (i) average Total Outstandings during the Outstanding Amount of Committed Loans and (ii) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.18applicable quarter. The unused fee Unused Fee shall accrue at all times commencing on the ThirdFourth Amendment Effective Date through and during the Availability Period, including at any time during which one or more of the conditions in Article V IV is not met, and shall be due and payable quarterly in arrears on the last Business Day of each of March, June, September and December, commencing with the first such date to occur after the Closing ThirdFourth Amendment Effective Date, and on the last day of the Availability Period. The unused fee Unused Fee shall be calculated quarterly in arrears, and if there is any change in the Daily Usage Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Unused Applicable Rate separately for each period during such quarter that such Unused Applicable Rate was in effect.

Appears in 1 contract

Samples: Reimbursement Agreement (Irobot Corp)

Unused Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage, an unused fee equal to the Unused Applicable Rate times the actual daily amount by which the Aggregate Commitments exceed the sum of (i) the Outstanding Amount of Committed Loans Loans, and (ii) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.182.15. The unused fee shall accrue at all times during the Availability Period, including at any time during which one or more of the conditions in Article V Section IV is not met, and shall be due and payable quarterly in arrears on the last first (1st) Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the last day of the Availability Period. The unused fee shall be calculated quarterly in arrears, and if there is any change in the Daily Usage Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Unused Applicable Rate separately for each period during such quarter that such Unused Applicable Rate was in effect.

Appears in 1 contract

Samples: Credit Agreement (NVR Inc)

Unused Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage, an unused fee (the "Unused Fee") equal to the Unused Applicable Rate times the actual daily amount by which the Aggregate Commitments exceed the sum of (i) the Outstanding Amount of Committed Loans and (ii) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.18. The unused fee shall accrue at all times during the Availability Period, including at any time during which one or more of the conditions in Article V IV is not met, and EXHIBIT 10.1 shall be due and payable quarterly in arrears on the last first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the last day of the Availability PeriodMaturity Date. The unused fee shall be calculated quarterly in arrears, and if there is any change in the Daily Usage Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Unused Applicable Rate separately for each period during such quarter that such Unused Applicable Rate was in effect.

Appears in 1 contract

Samples: Senior Unsecured Revolving Credit Agreement (Wci Communities Inc)

Unused Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage, an unused fee equal to the Unused Rate times the actual daily amount by which the Aggregate Commitments exceed the sum of (i) the Outstanding Amount of Committed Loans and (ii) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.182.16. The unused fee shall accrue at all times during the Availability Period, including at any time during which one or more of the conditions in Article V IV 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 last day of the Availability Period. The unused fee shall be calculated quarterly in arrears, and if there is any change in the Daily Usage Unused Rate during any quarter, the actual daily amount shall be computed and multiplied by the Unused Rate separately for each period during such quarter that such Unused Rate was in effect.

Appears in 1 contract

Samples: Credit Agreement (Ashford Inc.)

Unused Fee. The Borrower shall pay to the Administrative Agent for the account of each Revolving Lender in accordance with its Applicable Revolving Percentage, an unused fee equal to the Unused Rate times the actual daily amount by which the Aggregate Revolving Commitments exceed the sum of (i) the Outstanding Amount of Committed Revolving Loans and (ii) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.18. The unused fee shall accrue at all times during the Availability Period, including at any time during which one or more of the 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 the last day of the Availability Period. The unused fee shall be calculated quarterly in arrears, and if there is any change in the Daily Usage during any quarter, the actual daily amount shall be computed and multiplied by the Unused Rate separately for each period during such quarter that such Unused Rate was in effect.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Agree Realty Corp)