Common use of Unused Fees Clause in Contracts

Unused Fees. During the period from the Agreement Date to but excluding the Revolving Loan Termination Date, the Borrower agrees to pay to the Administrative Agent for the account of the Revolving Lenders an unused facility fee equal to the sum of the daily amount (the “Unused Amount”) by which the aggregate amount of the Revolving Commitments exceeds the aggregate outstanding principal balance of Revolving Loans and Letter of Credit Liabilities, as set forth in the table below multiplied by the corresponding per annum rate: Unused Amount Unused Fee(percent per annum) Less than or equal to thirty-three and one-third percent (33-1/3%) of the aggregate amount of Revolving Commitments 0.25% Greater than thirty-three and one-third percent (33-1/3%) of the aggregate amount of Revolving Commitments 0.375% Such fee shall be computed on a daily basis and payable quarterly in arrears on the first (1st) day of each January, April, July and October during the term of this Agreement and on the Revolving Loan Termination Date or any earlier date of termination of the Revolving Commitments or reduction of the Revolving Commitments to zero.

Appears in 1 contract

Samples: Credit Agreement (LGI Homes, Inc.)

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Unused Fees. During the period from the Original Agreement Date to but excluding the Revolving Loan Termination Date, the Borrower agrees to pay to the Administrative Agent for the account of the Revolving Lenders an unused facility fee equal to the sum of the daily amount (the “Unused Amount”) by which the aggregate amount of the Revolving Commitments exceeds the aggregate outstanding principal balance of Revolving Loans and Letter of Credit Liabilities, as set forth in the table below multiplied by the corresponding per annum rate: Unused Amount Unused Fee(percent per annum) Less than or equal to thirty-three and one-third percent (33-1/3%) of the aggregate amount of Revolving Commitments 0.25% Greater than thirty-three and one-third percent (33-1/3%) of the aggregate amount of Revolving Commitments 0.375% Such fee shall be computed on a daily basis and payable quarterly in arrears on the first (1st) day of each January, April, July and October during the term of this Agreement and on the Revolving Loan Termination NAI-1502661059v7 48 Date or any earlier date of termination of the Revolving Commitments or reduction of the Revolving Commitments to zero.

Appears in 1 contract

Samples: Credit Agreement (LGI Homes, Inc.)

Unused Fees. During the period from the Agreement Date to but excluding the Revolving Loan Termination Maturity Date, the Borrower agrees to pay to the Administrative Agent for the account of the Revolving Lenders an unused facility fee equal to the sum of the daily amount (the “Unused Amount”) by which the aggregate amount of the Revolving Commitments exceeds the aggregate outstanding principal balance of Revolving Loans and Letter of Credit Liabilities, as set forth in the table below multiplied by the corresponding per annum rate: Unused Amount Unused Fee(percent per annum) Less than or equal to thirty-three and one-third percent (33-1/3%) of the aggregate amount of Revolving Commitments 0.25% Greater than thirty-three and one-third percent (33-1/3%) of the aggregate amount of Revolving Commitments 0.375% Such fee shall be computed on a daily basis and payable quarterly in arrears on the first (1st) day of each January, April, July and October during the term of this Agreement and on the Revolving Loan Termination Date or any earlier date of termination of the Revolving Commitments or any reduction of the Revolving Commitments to zero. For the avoidance of doubt, for purposes of calculating an unused facility fee, the outstanding principal balance of Swingline Loans shall not be factored into the computation.

Appears in 1 contract

Samples: Credit Agreement (LGI Homes, Inc.)

Unused Fees. During the period from the Original Agreement Date to but excluding the Revolving Loan Termination Date, the Borrower agrees to pay to the Administrative Agent for the account of the Revolving Lenders an unused facility fee equal to the sum of the daily amount (the “Unused Amount”) by which the aggregate amount of the Revolving Commitments exceeds the aggregate outstanding principal balance of Revolving Loans and Letter of Credit Liabilities, as set forth in the table below multiplied by the corresponding per annum rate: Unused Amount Unused Fee(percent per annum) Less than or equal to thirty-three and one-third percent (33-1/3%) of the aggregate amount of Revolving Commitments 0.25% Greater than thirty-three and one-third percent (33-1/3%) of the aggregate amount of Revolving Commitments 0.375% Such fee shall be computed on a daily basis and payable quarterly in arrears on the first (1st) day of each January, April, July and October during the term of this Agreement and on the Revolving Loan Termination Date or any earlier date of termination of the Revolving Commitments or reduction of the Revolving Commitments to zero.

Appears in 1 contract

Samples: Credit Agreement (LGI Homes, Inc.)

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Unused Fees. During the period from the Agreement Date to but excluding the Revolving Loan Termination Date, the Borrower agrees to pay to the Administrative Agent for the account of the Revolving Lenders an unused facility fee equal to the sum of the daily amount (the “Unused Amount”) by which the aggregate amount of the Revolving Commitments exceeds the aggregate outstanding principal balance of Revolving Loans and Letter of Credit Liabilities, as set forth in the table below multiplied by the corresponding per annum rate: Unused Amount Unused Fee(percent per annum) Less than or equal to thirty-three and one-third percent (33-1/3%) of the aggregate amount of Revolving Commitments 0.25% Greater than thirty-three and one-third percent (33-1/3%) of the aggregate amount of Revolving Commitments 0.375% Such fee shall be computed on a daily basis and payable quarterly in arrears on the first (1st) day of each January, April, July and October during the term of this Agreement and on the Revolving Loan Termination Date or any earlier date of termination of the Revolving Commitments or reduction of the Revolving Commitments to zero. For the avoidance of doubt, for purposes of calculating an unused facility fee, the outstanding principal balance of Swingline Loans shall not be factored into the computation.

Appears in 1 contract

Samples: Credit Agreement (LGI Homes, Inc.)

Unused Fees. During the period from the Agreement Date to but excluding the Revolving Loan Termination Maturity Date, the Borrower agrees to pay to the Administrative Agent for the account of the Revolving Lenders an unused facility fee equal to the sum of the daily amount (the “Unused Amount”) by which the aggregate amount of the Revolving Commitments exceeds the aggregate outstanding principal balance of Revolving Loans and Letter of Credit Liabilities, as set forth in the table below multiplied by the corresponding per annum rate: Unused Amount Unused Fee(percent Fee (percent per annum) Less than or equal to thirty-three and one-third percent (33-1/3%) of the aggregate amount of Revolving Commitments 0.25% Greater than thirty-three and one-third percent (33-1/3%) of the aggregate amount of Revolving Commitments 0.375% Such fee shall be computed on a daily basis and payable quarterly in arrears on the first (1st) day of each January, April, July and October during the term of this Agreement and on the Revolving Loan Termination Date or any earlier date of termination of the Revolving Commitments or any reduction of the Revolving Commitments to zero. For the avoidance of doubt, for purposes of calculating an unused facility fee, the outstanding principal balance of Swingline Loans shall not be factored into the computation.

Appears in 1 contract

Samples: Credit Agreement (LGI Homes, Inc.)

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