Minimum Utilization Fee means a fee payable pursuant to Section 3.2 to each Committed Lender for each day of the related Accrual Period equal to the product of (A) the Applicable Margin and (B) the positive difference (if any) of (x) the product of (1) such Committed Lender’s average daily Commitment during the related Accrual Period multiplied by (2) the Minimum Utilization Percentage minus (y) the daily average Advances funded by such Committed Lender (or its Lender Group) during such Accrual Period minus (z) the Undrawn Fee accrued during such Accrual Period with respect to the amount of the unutilized Commitment.

Minimum Utilization Fee shall have the meaning set forth in the Agency Fee Letter.

Minimum Utilization Fee. The fee set forth in the Transactions Terms Letter payable by Seller in arrears on the Price Differential Dates set forth in the Transactions Terms Letter.

Examples of Minimum Utilization Fee in a sentence

Computations of the Minimum Utilization Fee shall be made by the Administrative Agent.
On each Minimum Utilization Fee Payment Date during the Availability Period, the Borrower agrees to pay to the Administrative Agent, for the ratable benefit of the Lenders and as consideration for each Lender’s Commitment hereunder, the Minimum Utilization Fee.
Buyer shall not be liable to Seller for any costs, losses or damages arising from or relating to any actions taken by Buyer pursuant to this Section 4.4 and (c) Seller’s obligation to pay any Non-Usage Fee or Minimum Utilization Fee shall terminate upon such determination and Buyer shall reimburse Seller a pro-rated portion of the Upfront Fee based on the number of days remaining prior to the Expiration Date.
Payments of Yield and, Undrawn Fee and Minimum Utilization Fee shall be allocated and applied to Lenders pro rata based upon the respective amounts of such Yield and, Undrawn Fee and Minimum Utilization Fee due and payable to them.
This activity also requires a proprietary authorization, as the activity is located on sovereign submerged lands held in trust by the Board of Trustees of the Internal Improvement Trust Fund (Board of Trustees), pursuant to Article X, Section 11 of the Florida Constitution, and Sections 253.002 and 253.77, F.S. The activity is not exempt from the need to obtain a proprietary authorization.

More Definitions of Minimum Utilization Fee

Minimum Utilization Fee is defined in Section 2.6.

Minimum Utilization Fee means for any Reconciliation Period the amount (if any) by which $500.00 exceeds the total amount of Finance Charges with respect to Formula Advances and Equipment Advances for that Reconciliation Period.

Minimum Utilization Fee means a fee payable pursuant to Section 3.2 to each Committed Lender for each day of the related Accrual Period equal to the product of (A) the Applicable Margin and (B) the positive difference (if any) of (x) the product of (1) such Committed Lender’s average daily Commitment during the related Accrual Period multiplied by (2) the Minimum Utilization Percentage minus (y) the daily average Advances funded by such Committed Lender (or its Lender Group) during such Accrual Period minus (z) the - 34- USActive 49316845.1249316845.13 Undrawn Fee accrued during such Accrual Period with respect to the amount of the unutilized Commitment.

Minimum Utilization Fee has the meaning specified in the MUFG Margin Letter.

Minimum Utilization Fee means an amount equal to one half of one percent (0.5%) per annum of the average unused portion of the Revolving Facility, as determined by Lender, computed on the basis of a year with the applicable number of days as set forth in Section 8. The unused portion of the Revolving Facility, for purposes of this calculation, shall be calculated on a calendar year basis and shall equal the difference between (i) the Revolving Facility, and (ii) the average for the period of the daily closing principal balance of the Advances outstanding.

Minimum Utilization Fee means, with respect to each day during an Interest Accrual Period that occurs on or after the Closing Date and during the Revolving Period, the product of (a) the Applicable Margin, (b) the greater of (i) zero and (ii) (1) the Minimum Utilization Amount minus (2) the outstanding principal amount of all of the Advances on such day, and (c) 1 divided by 360.

Minimum Utilization Fee means for any Reconciliation Period the amount (if any) by which $3,000.00 exceeds the sum of the Finance Charge and Term Loan Interest for that Reconciliation Period. The defined term “Obligations” is amended to include all Term Loan Advances. “Prime Rate” means the greater of 4.25% per year, or the Prime Rate published in the Money Rates section of the Western Edition of The Wall Street Journal. Lender may price loans to its customers at, above, or below the Prime Rate. Any change in the Prime Rate shall take effect at the opening of business on the day specified in the public announcement of a change in Lender’s Prime Rate.