Line of Credit Fee definition

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 shall: (i) mean the fee due to each of the Lenders, pro ------------------ rata, at the end of each month for the Line of Credit, and (ii) be determined by multiplying the difference between (x) the Lenders' aggregate committed amount of the Line of Credit, and (y) the average daily Revolving Loans plus the face amount of all outstanding Letters of Credit of the Company for said month by one-half of one percent (1/2 of 1%) per annum for the number of days in said month.

Examples of Line of Credit Fee in a sentence

• On the first day of each month, commencing on May 1, 2008, (a) the Companies agree to pay to the Agent, for the ratable benefit of the Lenders (based upon their respective Pro Rata Percentages), the Line of Credit Fee, and (b) the Agent shall charge the Companies for interest on Chase Bank Rate Loans at the rate set forth in Section 8.1 (or Section 8.2, if applicable) hereof for the immediately preceding month.

• Upon the last Business Day of each month, commencing with the month of July, 2000, the Borrower shall pay to the Agent the Line of Credit Fee, which shall be calculated based on a 360-day year.

• If the Administrative Agent and Bank of America, in its capacity as an Issuing Lender of Financial Letters of Credit, each consent to issuance of Financial Letters of Credit in such requested currency, the Administrative Agent shall so notify the U.S. Borrower and, thereafter, such currency shall thereupon be deemed for all purposes to be an Alternative Currency for purposes of the issuance of Financial Letters of Credit.

• On the last day of each month, commencing on the last day of the month in which the Closing Date occurs, the Companies agree to pay to the Agent, for the ratable benefit of the Lenders, the Line of Credit Fee, and, for any month in which any Revolving Loans are outstanding, interest at the rate set forth in Section 8.1 (or Section 8.2, if applicable) hereof on the Collection Days for the month then ended.

• On the first day of each month, commencing on July 1, 2006, (a) the Companies agree to pay to CIT the Revolving Line of Credit Fee, and (b) CIT shall charge the Companies for interest at the rate set forth in Section 8.1 (or Section 8.2, if applicable) hereof on the Collection Days for the immediately preceding month.

More Definitions of Line of Credit Fee

Line of Credit Fee shall: (a) mean the fee due the Agent at the end of each month for the Line of Credit, and (b) be determined by multiplying the difference between (i) (x) $20,000,000 for any month during which there have been no borrowings and no outstanding Revolving Loans or other Obligations and (y) at all other times, 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 0.375% per annum for the number of days in said month."

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 outstanding during such month, times (b) one-quarter of one percent (0.25%) per annum for the number of days in said month.

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 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 shall: (a) mean the fee due CIT at the end of each month for the 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 the average daily balance of Revolving Loans outstanding for said month, by one-half percent (.5%) per annum for the number of days in said month; provided that during any Non-Borrowing Period the percentage shall be increased to one percent (1%) per annum for the number of days in said month. Loan Documents shall mean this Financing Agreement, the other closing documents and any other ancillary loan and security agreements executed from time to time in connection with this Financing Agreement, all as may be renewed, amended, extended, increased or supplemented from time to time.

Line of Credit Fee shall: (a) mean the fee payable to the Agent, for the benefit of the Lenders, due at the end of each month for the Revolving Line of Credit and the Acquisition Term Loan Line of Credit, and (b) such fee to be equal to the sum of the amounts set forth below in clause (i) and (ii) and determined as follows: (i) multiplying (x) the difference between (A) the Revolving Line of Credit, and (B) the sum, for said month, of the average daily balance of Revolving Loans plus the average daily balance of Letters of Credit outstanding for said month, by (y) one-quarter of one percent (0.25%) per annum for the number of days in said month, and (ii) multiplying (x) the difference between (A) Acquisition Term Loan Line of Credit and (B) the aggregate amount of Acquisition Term Loans made pursuant to this Financing Agreement as of the last day of said month, by (y) one quarter of one percent (0.25%) per annum for the number of days in said 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.