Unused Line Fee Percentage definition

Unused Line Fee Percentage means, with respect to any calendar month, (i) if the average Usage Percentage is less than 50.00% during such calendar month, [***]% per annum, and (ii) if the Usage Percentage is greater than or equal to 50.00% during such calendar month, [***]% per annum.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Unused Line Fee Percentage means, with respect to any Lender or Lender Group, the “Unused Line Fee Percentage” set forth in the Fee Letter to which such Lender or Lender Group is a party.

Unused Line Fee Percentage means [***]% per annum.

Examples of Unused Line Fee Percentage in a sentence

• Borrowers shall pay to Agent, for the Pro Rata benefit of Lenders, a fee equal to the Unused Line Fee Percentage times the amount by which the Revolver Commitments exceed the average daily balance of Revolver Loans and stated amount of Letters of Credit during any month.

• Borrowers agree to pay, on the 1st day of each month and on the Maturity Date, to Agent, for the account of Lenders, in accordance with their respective Pro Rata Shares, an unused line fee (the “Unused Line Fee”) at the rate of the applicable Unused Line Fee Percentage based on the result of (i) the Total Credit Facility minus (ii) the average daily Credit Facility Exposure during the immediately preceding month.

• The Unused Line Fee shall be, for each day after the Closing Date through the Maturity Date, an amount equal to (a) the difference between (1) the Maximum Amount, and (2) the closing balance of the Loans for such day, multiplied by (b) the Applicable Unused Line Fee Percentage, the product of which is then divided by (c) 360.

• Borrowers shall pay to Agent, for the Pro Rata benefit of Lenders (other than any Defaulting Lender), a fee equal to the applicable Unused Line Fee Percentage multiplied by the amount by which the Commitments exceed the average daily principal balance of Loans and the stated amount of Letters of Credit during any calendar quarter.

• In addition, Borrowers shall pay to Agent, for the Pro Rata benefit of the FILO Lenders (other than a Defaulting Lender), a fee equal to the Unused Line Fee Percentage per annum multiplied by the amount by which the (a) FILO Commitments exceed (b) the average daily balance of FILO Loans during any Fiscal Quarter.

More Definitions of Unused Line Fee Percentage

Unused Line Fee Percentage means [***]% per annum if the Usage Percentage is [***]% or more and [***]% per annum if the Usage Percentage is less than [***]%.

Unused Line Fee Percentage means (a) for each calendar month for which the average outstanding principal balance of the Loan is equal to or greater than $20,000,000, 0.60% per annum and (b) for each calendar month for which the average outstanding principal balance of the Loan is less than $20,000,000, 0.75% per annum, in each case computed on the basis of a Three Hundred Sixty (360) day year and the actual number of days elapsed.

Unused Line Fee Percentage means (a) for each calendar month for which the average outstanding principal balance of the Obligations is greater than or equal to fifty percent (50%) of the Total Credit Facility, 0.50% per annum and (b) for each calendar month for which the average outstanding principal balance of the Obligations is less than fifty percent (50%) of the Total Credit Facility, 1.0% per annum.

Unused Line Fee Percentage means the percentage set forth in the definition of “Applicable Rate” under the column titled “Unused Line Fee”.

Unused Line Fee Percentage means one quarter of one percent (0.25%).

Unused Line Fee Percentage as defined in the definition of the term “Applicable Margin”.

Unused Line Fee Percentage means, as of any date of determination, the applicable percentage set forth in the following table that corresponds to the most recent Total Leverage Ratio Calculation; provided, however, that for the period from the Closing Date through the date Agent receives the Total Leverage Ratio Calculation in respect of the testing period ending June 30, 2011, the LIBOR Rate Margin shall be at the margin in the row styled “Level II”: Except as set forth in the foregoing proviso, the Unused Line Fee Percentage shall be based upon the most recent Total Leverage Ratio Calculation, which will be calculated as of the end of each fiscal quarter. Except as set forth in the foregoing proviso, the Unused Line Fee Percentage shall be re-determined quarterly on the first day of the month following the date of delivery to Agent of the certified calculation of the Total Leverage Ratio pursuant to Section 5.1 of the Agreement; provided, however, that if Borrower fails to provide such certification when such certification is due, the Unused Line Fee Percentage shall be set at the margin in the row styled “Level III” as of the first day of the month following the date on which the certification was required to be delivered until the date on which such certification is delivered (on which date (but not retroactively), without constituting a waiver of any Default or Event of Default occasioned by the failure to timely deliver such certification, the Unused Line Fee Percentage shall be set at the margin based upon the calculations disclosed by such certification. In the event that the information regarding the Total Leverage Ratio contained in any certificate delivered pursuant to Section 5.1 of the Agreement is shown to be inaccurate, and such inaccuracy, if corrected, would have led to the application of a higher Unused Line Fee Percentage for any period (a “Unused Line Fee Period”) than the Unused Line Fee Percentage actually applied for such Unused Line Fee Period, then (i) Borrower shall immediately deliver to Agent a correct certificate for such Unused Line Fee Period, (ii) the Unused Line Fee Percentage shall be determined as if the correct Unused Line Fee Percentage (as set forth in the table above) were applicable for such Unused Line Fee Period, and (iii) Borrower shall immediately deliver to Agent full payment in respect of the accrued additional fees as a result of such increased Unused Line Fee Percentage for such Unused Line Fee Period.