Common use of Unused Line of Credit Fee Clause in Contracts

Unused Line of Credit Fee. Borrowers shall pay to Lender an unused line of credit fee equal to the daily rate equivalent of one-quarter of one percent per annum (1/4%) of the difference between the Maximum Revolving Loan and the average daily balance of the sum of the Revolving Loan and the Letter of Credit Obligations for each calendar quarter or part thereof, which fee shall be fully earned by Lender and payable quarterly in arrears on the fifth (5th) Business Day of each calendar quarter. Said fee shall be calculated on the basis of a 360-day year.

Unused Line of Credit Fee. Borrowers The Borrower shall pay to Lender the Bank an unused line of credit fee equal to the daily rate equivalent of one-quarter one eighth of one percent (.125%) per annum (1/4%) of on the difference between the Maximum Revolving Loan and the average daily balance of the sum amount of the Revolving Credit Loan and the Letter of Credit Obligations not used for each calendar quarter or part thereof, which cash borrowings. Such fee shall be fully earned by Lender and payable quarterly in arrears on the fifth (5th) first Business Day of each calendar quarterquarter during the term of this Agreement. Said Such fee shall be calculated based on the basis average cash borrowings of a 360-day yearBorrower under the Revolving Credit Loan for each calendar quarter.

Unused Line of Credit Fee. Borrowers Borrower shall pay to Lender an unused line of credit fee equal to the daily rate equivalent of one-quarter of one percent 0.125% per annum (1/4%) on the amount of the difference between the Maximum Revolving Loan and the average daily balance of the sum of the Revolving Loan and the Letter of Credit Obligations not used for each calendar quarter or part thereof, which cash borrowings. Such fee shall be fully earned by Lender and payable quarterly in arrears on the fifth (5th) first Business Day of each calendar quarter. Said Such fee shall be calculated based on the basis average cash borrowings of a 360-day yearBorrower for each calendar quarter.