Examples of Accrual Period in a sentence
Each Commitment Fee shall be payable on each Payment Date for the related Accrual Period commencing with the Payment Date immediately following the six-month anniversary of the Closing Date; provided that if such Payment Date is not a Business Day, then the Payment Date shall be the next succeeding Business Day.
For the avoidance of doubt, the initial Accrual Period for the Commitment Fee shall begin on January 8, 2025 and end on February 28, 2025.
Each such notice shall specify the date and amount of such prepayment and if a Term SOFR Loan, the Accrual Period of such Loans.
The Borrower shall pay to the Administrative Agent, for the account of each Lender in accordance with its Applicable Percentage, a commitment fee (the “Commitment Fee”) which shall be equal to the sum of the products in the applicable Accrual Period of (i) one divided by 360, (ii) 0.50% and (iii) the positive difference, if any, of (A) the Aggregate Commitments then in effect minus (B) the greater of (1) the Total Outstandings on such day and (2) the Minimum Utilization Amount.