Class A Unused Fee definition

Class A Unused Fee has the meaning assigned to such term in the Class A Fee Letter.
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Class A Unused Fee means, for each Interest Accrual Period that occurs during the Reinvestment Period, the product of (a) the Class A Unused Premium, (b) the greater of (i) zero and (ii) the excess of (A) the average of the Class A Committed Facility Amount during such Interest Accrual Period over (B) the average outstanding principal amount of all of the Class A Advances during such Interest Accrual Period, and (c) a fraction, the numerator of which is the number of days in such Interest Accrual Period and the denominator of which is 360.
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Class A Unused Fee shall have the meaning set forth in Section 10 hereof.
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Examples of Class A Unused Fee in a sentence

  • Any accrued and unpaid Class A Unused Fee for each applicable Interest Period will be payable on each Settlement Date except as otherwise provided in this Agreement.

  • The Class A Unused Fee paid to any Committed Lender is non-refundable under any circumstances.

  • The Class A Unused Fee due to each Committed Lender shall accrue commencing on the date that is the third (3rd) month anniversary of the Closing Date and daily thereafter during each Interest Period through (and excluding) the Commitment Termination Date, and will be computed for each Interest Period on the basis of the actual number of days elapsed and a 360-day year.


More Definitions of Class A Unused Fee

Class A Unused Fee equal to the product of (i) the Class A Unused Fee Rate on such day divided by 360 and (ii) the difference between the Class A Committed Facility Amount and the Class A Advances Outstanding on that day, payable in arrears on each Remittance Date with respect to the related Pricing Period. For the avoidance of doubt, no Unused Fee shall be due in connection with an Optional Repayment by Borrowers of all Class A Advances Outstanding and the termination of the Class A facility.
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Class A Unused Fee means, for each Interest Accrual Period that occurs during the Reinvestment Period, the product of (a) the Class A Unused Premium, (b) the greater of (i) zero and (ii) the excess of (A) the average of the Class A Facility Amount for each day during such Interest Accrual Period over (B) the greater of (x) the average outstanding principal amount of all of the Class A Advances during such Interest Accrual Period and (y) the average of the Class A Minimum Utilization Amount for each day during such Interest Accrual Period, and (c) a fraction, the numerator of which is the number of days in such Interest Accrual Period and the denominator of which is 360.
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Class A Unused Fee has the meaning set forth in the Fee Letter. “Class A Upfront Fee” has the meaning set forth in the Fee Letter. “Class A Used Fee” has the meaning set forth in the Fee Letter. “Class B Advance Rate” has the meaning set forth on Schedule II. “Class B Aggregate Loan Principal Balance” means, at any time, the aggregate outstanding Principal Amount of all Class B Loans. “Class B Borrower Obligations” means all present and future indebtedness and other liabilities and obligations (howsoever created or evidenced, whether direct or indirect, absolute or contingent, or due or to become due) of the Borrower to the Class B Lenders arising under this Agreement or any other Transaction Document or the transactions contemplated hereby or thereby, including the repayment of the Class B Aggregate Loan Principal Balance and the payment of Class B Senior Monthly Interest Amount, Class B Monthly Interest Amount, Class B Monthly Principal Payment Amount, Class B Used Fee, Class B Unused Fee, Class B Upfront Fee and all other amounts due or to become due from the Borrower to the Class B Lenders under this Agreement and the other Transaction Documents (whether in respect of fees, expenses, indemnifications, breakage costs, increased costs or otherwise), interest, fees and other obligations that accrue after the commencement of any bankruptcy, insolvency or similar proceeding with respect to Borrower, Seller, Servicer or GreenSky (in each case whether or not allowed as a claim in such proceeding). “Class B Borrowing Base” means, at any time, an amount equal to (i) cash held in the Collection Account in excess of the projected amounts of distributions payable pursuant to Sections 3.02(a)(i) through (v) on the immediately succeeding Settlement Date, plus (ii) cash actually on deposit in the Reserve Account on such date, plus (iii) the product of (A) the Class B
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Class A Unused Fee. “Class A Upfront Fee”, “Class A Used Fee”, “Class B Advance Rate”, “Class B Borrowing Base”, “Class B Borrowing Base Deficiency”, “Class B Unused Fee”, “Class B Upfront Fee”, “Class B Used Fee”, “CP Rate”, “Default Rate”, “Amortization Event” or any other definition contained therein, “Event of Default”, “Majority Lenders”, “Eligible Participation”, “Excess Concentration Amount”, “Final Maturity Date”, “Settlement Date”, “Servicer Default”, “Commitment Termination Date”, or “Required Reserve Account Deposit Amount” (or the definitions used therein); (v) change any provision that expressly requires the consent of, or provides certain rights or powers to, such Lender; (vi) impair the right of such Lender to institute a suit or take other action against the Borrower to collect the indebtedness owed to it pursuant to the provisions of this Agreement; (vii) change the Facility Limit (or the definition thereof); (viii) change any section hereof specific to a Conduit Lender (with respect to any Lender that is a Conduit Lender); (ix) change any provision in Section 2.04, Section 2.07, Section 3.02, Article IV, Article V, Article VI, Section 7.01, Section 7.02, Section 7.03 or Article IX; (x) waive any Amortization Event, Event of Default or Servicer Default; (xi) modify this Section 10.01; or (xii) change any provision of the Fee Letter. (c) No Deemed Waiver or Limitation/Exclusivity of Remedies. Any waiver, consent or approval given by the Administrative Agent or any party hereto (other than any waiver, consent or approval which is contemplated by the express terms of this Agreement or any other Transaction Document) shall be effective only in the specific instance and for the specific purpose for which given, and no waiver by a party of any breach or default under this Agreement or any other Transaction Document shall be deemed a waiver of any other breach or default. No failure on the part of the Administrative Agent or any party hereto to exercise, and no delay in exercising, any right hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right hereunder, or any abandonment or discontinuation of steps to enforce the right, power or privilege, preclude any other or further exercise thereof or the exercise of any other right. Any waiver consent or approval given by the Administrative Agent under this Agreement, and in accordance with this Agreement, or any other Transaction Document shall be binding upon each Lender and the...
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Class A Unused Fee has the meaning specified in the Class A Fee Letter, as notified by the Borrower to the Back-Up Servicer and the Servicer in writing.
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Related to Class A Unused Fee

  • Class A-3 Interest Distributable Amount means the amount of interest accrued during the related Interest Period (calculated on the basis of a 360 day year consisting of twelve 30 day months) on the Class A‑3 Principal Balance as of the immediately preceding Payment Date (after giving effect to payments of principal made on such immediately preceding Payment Date) at the Class A‑3 Rate or, in the case of the first Payment Date, on the Class A‑3 Initial Principal Balance.

  • Class A-1 Interest Distributable Amount means the amount of interest accrued during the related Interest Period (calculated on the basis of the actual number of days in such Interest Period and a year assumed to consist of 360 days) on the Class A‑1 Principal Balance as of the immediately preceding Payment Date (after giving effect to payments of principal made on such immediately preceding Payment Date) at the Class A‑1 Rate or, in the case of the first Payment Date, on the Class A‑1 Initial Principal Balance.

  • Class A-4 Interest Distributable Amount means the amount of interest accrued during the related Interest Period (calculated on the basis of a 360 day year consisting of twelve 30 day months) on the Class A‑4 Principal Balance as of the immediately preceding Payment Date (after giving effect to payments of principal made on such immediately preceding Payment Date) at the Class A‑4 Rate or, in the case of the first Payment Date, on the Class A‑4 Initial Principal Balance.

  • Class A Floating Percentage means, with respect to any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is equal to the Class A Adjusted Invested Amount as of the close of business on the last day of the preceding Monthly Period and the denominator of which is equal to the Adjusted Invested Amount as of such day; provided, however, that with respect to the first Monthly Period, the Class A Floating Percentage shall mean the percentage equivalent of a fraction, the numerator of which is the Class A Initial Invested Amount and the denominator of which is the Initial Invested Amount.

  • Class A Interest Distributable Amount means, with respect to any Distribution Date, the sum of (a) the Class A Monthly Interest for such Distribution Date and (b) the Class A Interest Carryover Shortfall for such Distribution Date.

  • Class B Interest Distributable Amount means the amount of interest accrued during the related Interest Period (calculated on the basis of a 360 day year consisting of twelve 30 day months) on the Class B Principal Balance as of the immediately preceding Payment Date (after giving effect to payments of principal made on such immediately preceding Payment Date) at the Class B Rate or, in the case of the first Payment Date, on the Class B Initial Principal Balance.

  • Class B Floating Percentage means, with respect to any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is equal to the Class B Adjusted Invested Amount as of the close of business on the last day of the preceding Monthly Period and the denominator of which is equal to the Adjusted Invested Amount as of the close of business on such day; provided, however, that with respect to the first Monthly Period, the Class B Floating Percentage shall mean the percentage equivalent of a fraction, the numerator of which is the Class B Initial Invested Amount and the denominator of which is the Initial Invested Amount.