LINE OF CREDIT FEE shall: (a) mean the fee due the Agent for the benefit of the Lenders at the end of each month for the Line of Credit, and (b) be determined by multiplying (i) the difference between the Line of Credit and the sum of (x) the average daily balance of Revolving Loans of all Companies plus (y) the average daily undrawn balance of all Letters of Credit for said month, by (ii) three-eighths of one percent (0.375%) per annum for the number of days in said month.

LINE OF CREDIT FEE shall: i) mean the fee due CITBC at the end of each month for the Line of Credit, and ii) be determined by multiplying the difference between the Line of Credit, and the average daily Revolving Loans and outstanding Letters of Credit of the Company for said month by one-quarter of one percent (1/4 of 1%) per annum for the number of days in said month during which this Financing Agreement was in effect.

LINE OF CREDIT FEE means, for any month, the product obtained by multiplying (a) (i) the amount of the Revolving Line of Credit minus (ii) the average daily principal balance of Revolving Loans and the average daily undrawn amount of Letters of Credit outstanding during such month, times (b) three-quarters of one percent (0.75%) per annum for the number of days in said month.

Examples of LINE OF CREDIT FEE in a sentence

REVOLVING LINE OF CREDIT FEE means the fee due the Agent for the benefit of the Lenders at the end of each month for the Revolving Line of Credit, in an amount equal to the product of the difference between the average daily amount of the Revolving Line of Credit and the sum of the average daily balance of outstanding Revolving Credit Loans and Other Letters of Credit during said month multiplied by 0.375% per annum for the number of days in said month divided by 360.

More Definitions of LINE OF CREDIT FEE

LINE OF CREDIT FEE means, for any month, the product obtained by multiplying (a) (i) the amount of the Revolving Line of Credit minus (ii) the average daily principal balance of Revolving Loans and the average daily undrawn amount of Letters of Credit, Bankers Acceptances, Steamship Guarantees and Airway Releases outstanding during such month, times (b) one-quarter of one percent (0.25%) per annum for the number of days in said month; provided, however, that the Line of Credit Fee during any one year period commencing on the Closing Date and ending on the day before each anniversary thereof shall not exceed $95,000.

LINE OF CREDIT FEE shall: (a) mean the fee payable by the Borrower to the Lender at the end of each month for the Line of Credit pursuant to Article 8 of this Financing Agreement, and (b) be determined by multiplying the difference between (i) the maximum authorized Revolving Line of Credit, and (ii) the sum, for such month, of (x) the average daily balance of Revolving Loans, plus (y) the average daily balance of the face amount of all outstanding Letters of Credit for such month, by three-eighths of one percent (0.375%) per annum, for the number of days in said month, calculated on the basis of a 365 day year. LOAN DOCUMENTS shall mean this Financing Agreement, the Security Agreements, all other certificates, instruments, agreements, acknowledgements, indemnities and documents whatsoever executed from time to time in connection with this Financing Agreement, all as may be amended, renewed, extended, increased, replaced or supplemented from time to time.

LINE OF CREDIT FEE shall: (a) mean the fee due the Agent for the ratable benefit of the Lenders at the end of each month for the Revolving Line of Credit, and (b) be determined by multiplying the difference between (i) the Revolving Line of Credit, and (ii) the sum, for said month, of (x) the average daily balance of Revolving Loans plus (y) the average daily balance of Letters of Credit outstanding for said month, by three hundred seventy five hundredths percent (0.375%) per annum for the number of days in said month. LOAN DOCUMENTS shall mean this Financing Agreement, the Promissory Notes, the Guaranties, the other closing documents and any other ancillary loan and security agreements executed from time to time in connection with this Financing Agreement and any Guaranty, all as may be renewed, amended, extended, increased or supplemented from time to time.

LINE OF CREDIT FEE shall: (a) mean the fee due the Agent at the end of each month on the Line of Credit (based on $60,000,000), and (b) be determined by multiplying the difference between (i) the Revolving Line of Credit, and (ii) the sum, for said month, of (x) the average daily balance of Revolving Loans plus (y) the average daily balance of Letters of Credit outstanding for said month, by the per annum percentage under the column entitled “Line of Credit Fee” set forth in the pricing matrix in Section 8.20 for the number of days in said month.”

LINE OF CREDIT FEE means the fee payable by the Borrowers to the Agent on behalf of the Lenders at the end of each month for the Line of Credit as determined by multiplying the difference between (a) the Revolving Line of Credit, and (b) the sum, for such month, of (i) the average daily balance of outstanding Revolving Loans, plus (ii) the average daily balance of Letters of Credit outstanding, by XXXXXXXXXXXXXXXXXXXXXXX per annum for the number of days in said month calculated on the basis of a 365 day year.

LINE OF CREDIT FEE shall: (a) mean the fee payable to the Agent, for the ratable benefit of the Lenders, due on the last Business Day of each month for the Line of Credit, and (b) be determined by multiplying (1) the difference between (i) the aggregate committed amounts of the Line of Credit and the Acquisition Term Loan Line of Credit and (ii) the sum, for such month, of (x) the average daily outstanding principal balance of all Revolving Loans, plus (y) the average daily undrawn balance of Letters of Credit, plus (z) the average daily outstanding principal balance of all Term Loans, by (2) one-quarter of one percent (0.25%) for the number of days in such month.

LINE OF CREDIT FEE means the fee due CIT at the end of each month for the Line of Credit in an amount equal to (a) the difference between (i) the Line of Credit and (ii) the sum, for said month, of (x) the average daily balance of Revolving Loans and (y) the average daily balance of Letters of Credit outstanding for said month, multiplied by (b) three-eighths of one percent (0.375%) per annum for the number of days in said month. Liquid Assets shall mean the Company’s unrestricted, available cash, cash equivalents, bonds and similar investments representing evidences of indebtedness that have an investment grade rating and, as determined by Lender in its sole discretion, Investment Property for which there is a recognized market and that is readily salable for cash.