Utilization Premium Sample Clauses

Utilization Premium. For the period beginning on the Closing Date and ending on the Total Facility Termination Date, the Borrower agrees to pay to the Agent, for the pro rata benefit of the Lenders based on their Applicable Commitment Percentages, an additional interest payment on each day on which the amount of Total Combined Outstandings exceeds $750,000,000 in an amount equal to the Utilization Premium times the difference of Total Outstandings less all Swing Line Outstandings and Competitive Bid Outstandings ("Adjusted Total Outstandings") calculated on the basis of a year of 360 days. Notwithstanding the foregoing, such additional interest payment shall also be payable on the average daily amount of the Adjusted Total Outstandings during the period commencing on the Closing Date and continuing until but excluding the date on which the certificate is delivered to the Agent pursuant to Section 7.01(b)(ii) hereof immediately following the third fiscal quarter of Fiscal Year 1998. Such additional interest payment shall be payable in arrears on the first Business Day of each February, May, August and November, beginning November 2, 1998.
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Utilization Premium. For each day during the period from and including October 1, 1998 to but excluding the date on which the Credit Agreement Amendment becomes effective, the Company agrees to pay to the Agent for the account of the Banks, in addition to the interest otherwise accruing under the Credit Agreement, a utilization fee, calculated on the aggregate principal amount of the Loans outstanding on such day, at the rate of 1% per annum for each such day before the Waiver Termination Date and at the rate of 2% per annum for each such day on and after the Waiver Termination Date. The foregoing utilization fee shall be computed on the basis of a year of 360 days and paid, with respect to each Loan, on each date that interest is payable thereon and (to the extent accrued but unpaid) on the date on which the Credit Agreement Amendment becomes effective.
Sample 1
Utilization Premium. (A) During such periods as the aggregate principal amount of all outstanding Loans is greater than or equal to 33% of the Committed Amount but less than 66% of the Committed Amount, the otherwise applicable interest rate determined pursuant to clause (i) or (ii) above shall be increased by 6.5 bps. (B) During such periods as the aggregate principal amount of all outstanding Loans is greater than or equal to 66% of the Committed Amount, the otherwise applicable interest rate determined pursuant to clause (i) or (ii) above shall be increased by 13 bps.
Sample 1
Utilization Premium. For the period beginning on the Closing Date and ending on the US Facility Revolving Credit Termination Date, the US Facility Borrower agrees to pay to the US Facility Agent, who shall then pay to each US Facility Lender at its office in the United States based on such US Facility Lender's Applicable Fronting Percentage of the US Facility, an additional interest payment which shall accrue for each day on which the amount of US Facility Outstandings equals or exceeds an amount equal to fifty percent (50%) of the Total US Facility Commitment as of such day, and shall be payable in an amount equal to the Utilization Premium multiplied by the amount of all US Facility Outstandings calculated on the basis of a year of 360 days. Such additional interest payment shall be payable in arrears on the last Business Day of each March, June, September and December, beginning September 30, 2000.
Sample 1
Utilization Premium. For the period beginning on the Closing Date and ending on the Total Facility Termination Date, the UK Facility Borrowers agree to pay to the UK Facility Agent, who shall then pay to each UK Facility Lender at its office in the United Kingdom based on such UK Facility Lender's Applicable Fronting Percentage of the UK Facility, an additional interest payment which shall accrue for each day on which the amount of UK Facility Outstandings equals or exceeds an amount equal to fifty percent (50%) of the Total UK Facility Commitment as of such day, and shall be payable in an amount equal to the Utilization Premium multiplied by the amount of all UK Facility Outstandings calculated on the basis of a year of 360 days. Such additional interest payment shall be payable in arrears on the last Business Day of each March, June, September and December, beginning September 30, 2000.
Sample 1
Utilization Premium. (a) For the period beginning on the Closing Date and ending on the Canadian Facility Renewable Tranche Termination Date, the Canadian Facility Borrower agrees to pay to the Canadian Facility Agent, who shall then pay to each Canadian Facility Lender at its office in Canada based on such Canadian Facility Lender's Applicable Fronting Percentage of the Canadian Facility, an additional interest payment which shall accrue for each day on which the amount of Canadian Facility Renewable Tranche Outstandings equals or exceeds an amount equal to fifty percent (50%) of the Canadian Facility Renewable Tranche Commitment as of such day, and shall be payable in an amount equal to the Utilization Premium multiplied by the amount of all Canadian Facility Renewable Tranche Outstandings calculated on the basis of a year of 360 days. Such additional interest payment shall be payable in arrears on the last Business Day of each March, June, September and December, beginning September 30, 2000. (b) For the period beginning on the Closing Date and ending on the Total Facility Termination Date, the Canadian Facility Borrower agrees to pay to the Canadian Facility Agent, who shall then pay to each Canadian Facility Lender at its office in Canada based on such Canadian Facility Lender's Applicable Fronting Percentage of the Canadian Facility, an additional interest payment which shall accrue for each day on which the amount of Canadian Facility Full Maturity Tranche Outstandings equals or exceeds an amount equal to fifty percent (50%) of the Canadian Facility Full Maturity Tranche Commitment as of such day, and shall be payable in an amount equal to the Utilization Premium multiplied by the amount of all Canadian Facility Full Maturity Tranche Outstandings calculated on the basis of a year of 360 days. Such additional interest payment shall be payable in arrears on the last Business Day of each March, June, September and December, beginning September 30, 2000.
Sample 1
Utilization Premium. For the period beginning on the Closing Date and ending on the Total Facility Termination Date, the Australian Facility Borrowers agree to pay to the Australian Facility Agent, who shall then pay to each Australian Facility Lender at its office in Australia based on such Australian Facility Lender's Applicable Fronting Percentage of the Australian Facility, an additional interest payment which shall accrue for each day on which the amount of Australian Facility Outstandings equals or exceeds an amount equal to fifty percent (50%) of the Total Australian Facility Commitment as of such day, and shall be payable in an amount equal to the Utilization Premium multiplied by the amount of all Australian Facility Outstandings calculated on the basis of a year of 360 days. Such additional interest payment shall be payable in arrears on the last Business Day of each March, June, September and December, beginning September 30, 2000.
Sample 1
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Utilization Premium. For each day on which the Effective Amount of all L/C Obligations and Loans together exceeds thirty-three percent (33%) of the combined Commitments, the Companies shall pay to the Agent for the account of each Bank a utilization premium calculated by multiplying the Effective Amount of all L/C Obligations and Loans together on such day by the Applicable Utilization Premium Percentage. Such utilization premium shall accrue and be payable for all periods from the Closing Date until all Obligations are repaid in full (including at any time during which one or more conditions in Article V are not met) and shall be due and payable quarterly in arrears on the last Business Day of each quarter commencing on October 31, 2000 through the Revolving Termination Date (and thereafter, if the Obligations are not repaid in full on the Revolving Termination Date, upon demand); provided that, in connection with any reduction or termination of Commitments under Section 2.05, the accrued and unpaid utilization premium calculated for the period ending on such date shall also be paid on the date of such reduction or termination, with the following quarterly payment being calculated on the basis of the period from such reduction or termination date to such quarterly payment date.
Sample 1

Related to Utilization Premium

  • Utilization Fee If the aggregate outstanding amount of (i) all Revolving Credit Advances hereunder and (ii) all "Revolving Credit Advances" under (and as defined in) the Three-Year Agreement exceeds thirty-three percent (33%) of the aggregate amount of (x) all Commitments hereunder and (y) all "Commitments" under (and as defined in) the Three-Year Agreement then in effect on such date (or, if any of the Commitments or "Commitments" have been terminated, the aggregate amount of all Commitments and "Commitments" in effect immediately prior to such termination), the Borrower will pay to the Agent for the ratable benefit of the Lenders a utilization fee (the "Utilization Fee") at a per annum rate equal to the Applicable Utilization Fee Rate in effect from time to time payable on the aggregate outstanding amount of all Revolving Credit Advances on such date, payable in arrears quarterly on the last day of each March, June, September and December, and on the Revolver Termination Date.

  • FUNDING AVAILABILITY This Contract is contingent upon the continued availability of funding. If funds become unavailable through the lack of appropriations, legislative or executive budget cuts, amendment of the Appropriations Act, state agency consolidation or any other disruptions of current appropriations, DFPS will reduce or terminate this Contract.

  • Shift Premium Full-Time and Part-Time Employees shall be paid a shift premium of one dollar ($1.00) per hour for all hours worked where the majority of their scheduled hours fall between 1500 and 0700 hours.

  • Utilization Fees For any day on which the aggregate amount of Loans then outstanding exceeds fifty percent (50%) of the Commitments then in effect, or if any Loans remain outstanding after the Commitments have been terminated, then Borrower shall pay to the Administrative Agent for the ratable account of the Lenders in accordance with their Percentages a utilization fee accruing at a rate per annum equal to the Utilization Fee Rate on the aggregate amount of Loans outstanding on such date. Such utilization fee is payable in arrears on the last Business Day of each calendar quarter and on the Termination Date, and if the Commitments are terminated in whole prior to the Termination Date, the fee for the period to but not including the date of such termination shall be paid in whole on the date of such termination.

  • Over-Allowance Amount On the Cost Proposal Delivery Date and, in any event, prior to the commencement of the construction of the Tenant Improvements, Tenant shall deliver to Landlord cash in an amount (the “Over-Allowance Amount”) equal to the difference between (i) the amount of the Cost Proposal and (ii) the amount of the Tenant Improvement Allowance (less any portion thereof already disbursed by Landlord, or in the process of being disbursed by Landlord, on or before the Cost Proposal Delivery Date). The Over-Allowance Amount shall be disbursed by Landlord prior to the disbursement of any then remaining portion of the Tenant Improvement Allowance, and such disbursement shall be pursuant to the same procedure as the Tenant Improvement Allowance. If, after the Cost Proposal Date, any revisions, changes, or substitutions shall be made to the Construction Drawings or the Tenant Improvements as a result of requests made by Tenant or as otherwise specified in Section 5.01(h) below, any additional costs which arise in connection with such revisions, changes or substitutions shall be paid by Tenant to Landlord immediately upon Landlord’s request as an addition to the Over-Allowance Amount and, in any event, prior to the commencement of the construction of the revisions, changes or substitutions. Promptly following completion of construction of the Tenant Improvements and payment of all costs incurred in connection therewith, Landlord shall prepare and deliver to Tenant a reasonably detailed reconciliation of (i) the total cost of the Tenant Improvements, including all Tenant Improvement Allowance Items, and (ii) the total amount of the Tenant Improvement Allowance and the Over-Allowance Amount payments previously made by Tenant pursuant to the foregoing provisions of this Section. To the extent that such reconciliation discloses that the total costs of the Tenant Improvements exceeds the amount of the Tenant Improvement Allowance plus all Over-Allowance Amount previously paid by Tenant, Tenant shall pay the amount of such shortfall to Landlord within thirty (30) days after receipt of such reconciliation. To the extent that such reconciliation discloses that the total costs of the Tenant Improvements is less than the amount of the Tenant Improvement Allowance plus all Over-Allowance Amounts previously paid by Tenant, Landlord shall pay the amount of such overage to Tenant at the time that Landlord delivers such reconciliation to Tenant.

  • Maximum Credit Patheon's liability for Active Materials calculated in accordance with this Section 2.2 for any Product in a Year will not exceed, in the aggregate, the Maximum Credit Value set forth in Schedule D to a Product Agreement.

  • Undrawn Availability After giving effect to the initial Advances hereunder, Borrowers shall have Undrawn Availability of at least $10,000,000;

  • Unused Line Fee On the first day of each month during the term of this Agreement, an unused line fee in an amount equal to 0.375% per annum times the result of (i) the Maximum Revolver Amount, less (ii) the sum of (A) the average Daily Balance of Advances that were outstanding during the immediately preceding month, plus (B) the average Daily Balance of the Letter of Credit Usage during the immediately preceding month,

  • Reimbursement Premium (a) If the Company writes Covered Policies before June 1 of the Contract Year, the Company shall pay the FHCF its Reimbursement Premium in installments due on or before August 1, October 1, and December 1 of the Contract Year in amounts to be determined by the FHCF. However, if the Company’s Reimbursement Premium for the prior Contract Year was less than $5,000, the Company’s full provisional Reimbursement Premium, in an amount equal to the Reimbursement Premium paid in the prior year, shall be due in full on or before August 1 of the Contract Year. the Company will be invoiced for amounts due, if any, beyond the provisional Reimbursement Premium payment, on or before December 1 of the Contract Year. (b) If the Company is under administrative supervision, or if any control or oversight of the Company has been transferred through any legal or regulatory action to a state regulator or court appointed receiver or rehabilitator (referred to in the aggregate as “state action”): 1. The full annual provisional Reimbursement Premium as billed and any outstanding balances will be due and payable on August 1, or the date that such State action occurs after August 1 of the Contract Year. 2. Failure by such Company to pay the full annual provisional Reimbursement Premium as specified in subparagraph 1. by the applicable due date shall result in the 45% Coverage Level being deemed for the complete Contract Year regardless of the level selected for the Company through the execution of this Contract and regardless of whether a Covered Event occurred or triggered coverage. 3. Subparagraphs 1. and 2. do not apply if the state regulator, receiver, or rehabilitator provides a letter of assurance to the FHCF stating that the Company will have the resources and will pay the full Reimbursement Premium for the Coverage Level selected through the execution of this Contract. 4. When control or oversight has been transferred, in whole or in part, through a legal or regulatory action, the controlling management of the Company shall specify by August 1 or as soon thereafter as possible (but not to exceed two weeks after any regulatory or legal action) in a letter to the FHCF as to the Company’s intentions to either pay the full FHCF Reimbursement Premium as specified in subparagraph 1., to default to the 45% Coverage Level being deemed as specified in subparagraph 2., or to provide the assurances as specified in subparagraph 3. (c) A New Participant that first begins writing Covered Policies on or after June 1 but prior to December 1 of the Contract Year shall pay the FHCF a provisional Reimbursement Premium of $1,000 no later than 30 days from the date the New Participant began writing Covered Policies. The Administrator shall calculate the Company's actual Reimbursement Premium for the period based on its actual exposure as of November 30 of the Contract Year, as reported on or before February 1 of the Contract Year. To recognize that New Participants have limited exposure during this period, the actual Reimbursement Premium as determined by processing the Company's exposure data shall then be divided in half, the provisional Reimbursement Premium shall be credited, and the resulting amount shall be the total Reimbursement Premium due for the Company for the remainder of the Contract Year. However, if that amount is less than $1,000, then the Company shall pay $1,000. The Reimbursement Premium payment is due no later than April 1 of the Contract Year. The Company’s Retention and coverage will be determined based on the total Reimbursement Premium due as calculated above. (d) A New Participant that first begins writing Covered Policies on or after December 1 through and including May 31 of the Contract Year shall pay the FHCF a Reimbursement Premium of $1,000 no later than 30 days from the date the New Participant began writing Covered Policies. (e) The requirement that the Reimbursement Premium is due on a certain date means that the Reimbursement Premium shall be remitted by wire transfer or ACH and shall have been credited to the FHCF’s account, as set out on the invoice sent to the Company, on the due date applicable to the particular installment. (f) Except as required by Section 215.555(7)(c), Florida Statutes, or as described in the following sentence, Reimbursement Premiums, together with earnings thereon, received in a given Contract Year will be used only to pay for Losses attributable to Covered Events occurring in that Contract Year or for Losses attributable to Covered Events in subsequent Contract Years and will not be used to pay for past Losses or for debt service on post-event revenue bonds issued pursuant to Section 215.555(6)(a)1., Florida Statutes. Reimbursement Premiums and earnings thereon may be used for payments relating to such revenue bonds in the event emergency assessments are insufficient. If Reimbursement Premiums or earnings thereon are used for debt service on post- event revenue bonds, then the amount of the Reimbursement Premiums or earnings thereon so used shall be returned, without interest, to the Fund when emergency assessments or other legally available funds remain available after making payment relating to the post-event revenue bonds and any other purposes for which emergency assessments were levied.

  • Reallocation to a Class with a Lower Salary Range Maximum 1. If the employee meets the skills and abilities requirements of the position and chooses to remain in the reallocated position, the employee retains the existing appointment status and has the right to be placed on the Employer’s internal layoff list for the classification occupied prior to the reallocation. 2. If the employee chooses to vacate the position or does not meet the skills and abilities requirements of the position, the layoff procedure specified in Article 31 of this Agreement applies.

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