Common use of Unused Fee Clause in Contracts

Unused Fee. The Borrowers shall pay to the Administrative Agent for the account of each Revolving Credit Lender in accordance with its Applicable Revolving Credit Percentage, a fee (the “Unused Fee”) equal to the Unused Fee Rate times the Unused Facility Amount. 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 first Business Day after each Fiscal Quarter, commencing with the first such date to occur after the Closing Date, and on the last day of the Availability Period. If there is any change in the 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.

Appears in 7 contracts

Samples: Credit Agreement (Lifecore Biomedical, Inc. \De\), Credit Agreement (Lifecore Biomedical, Inc. \De\), Credit Agreement (Ascent Industries Co.)

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Unused Fee. The Borrowers shall pay to the Administrative Agent for the account of each Revolving Credit Lender in accordance with its Applicable Revolving Credit Percentage, a fee (the “Unused Fee”) equal to the Unused Fee Rate times the Unused Facility Amount. 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 in Dollars quarterly in arrears on the first Business Day after each Fiscal Quartercalendar quarter, commencing with the first such date to occur after the Closing Date, and on the last day of the Availability Period. If there is any change in the 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.

Appears in 4 contracts

Samples: Credit Agreement (Matrix Service Co), Credit Agreement (Matrix Service Co), Credit Agreement (Matrix Service Co)

Unused Fee. The Borrowers shall pay to the Administrative Agent for the account of each Revolving Credit Lender in accordance with its Applicable Revolving Credit Percentage, a fee (the “Unused Fee”) equal to the Unused Fee Rate times the Unused Facility Amount. 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 first Business Day after each Fiscal Quartercalendar quarter, commencing with the first such date to occur after the Closing Date, and on the last day of the Availability Period. If there is any change in the 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.

Appears in 1 contract

Samples: Credit Agreement (Ferroglobe PLC)

Unused Fee. The Borrowers Borrower shall pay to the Administrative Agent for the account of each Revolving Credit Lender in accordance with its Applicable Revolving Credit Percentage, a an unused fee (the “Unused Fee”) equal to the Unused Fee Applicable Rate times the Unused Facility AmountAvailability. The Unused Fee 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 first last Business Day after of each Fiscal QuarterMarch, 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. If The Unused Fee shall be calculated quarterly in arrears, and if there is any change in the Unused Fee Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Unused Fee Applicable Rate separately for each period during such quarter that such Unused Fee Applicable Rate was in effect.

Appears in 1 contract

Samples: Credit Agreement (Energy Partners LTD)

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Unused Fee. The Borrowers shall pay to the Administrative Agent for the account of each Revolving Credit Lender in accordance with its Applicable Revolving Credit Percentage, a fee (the “Unused Fee”) equal to the Unused Fee Rate times the Unused Facility Amount. 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 first (1st) Business Day after each Fiscal Quartercalendar quarter, commencing with the first such date to occur after the Closing Date, and on the last day of the Availability Period. If there is any change in the 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.

Appears in 1 contract

Samples: Credit Agreement (Purple Innovation, Inc.)

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