Commitment Fees. IHS agrees to pay to the Administrative Agent for the account of each Revolving Lender a commitment fee, which shall accrue at the Applicable Rate on the average daily unused amount of each Revolving Commitment of such Lender during the period from and including the Effective Date to but excluding the date on which such Revolving Commitment terminates. Accrued commitment fees shall be payable in arrears on the date which is three Business Days following the last day of each February, May, August and November of each year and on the date on which the Revolving Commitments terminate, commencing on the first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). A Revolving Commitment of a Lender shall be deemed to be used to the extent of: (i) the Dollar Amount of the outstanding Revolving Loans and LC Exposure of such Lender; (ii) if such Lender is an Available Currency Lender, the Dollar Amount of such Lender’s Available Currency Loans; and (iii) if such Lender is a Canadian Currency Lender, the Dollar Amount of such Lender’s Canadian Currency Loans and the following shall be disregarded for such purpose: (x) the Swingline Exposure of such Lender, (y) such Lender’s Applicable Percentage of the Available Currency Loans and (z) such Lender’s Applicable Percentage of the Canadian Currency Loans.
Appears in 2 contracts
Sources: Credit Agreement (IHS Inc.), Credit Agreement (IHS Inc.)
Commitment Fees. IHS The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender a commitment fee, which shall accrue at the Applicable Rate Percentage (determined quarterly in accordance with Schedule I) on the average daily unused amount of each the unused Revolving Commitment of such Lender during the period Availability Period; provided, that if such Lender continues to have any Revolving Credit Exposure after the Commitment Termination Date, then the commitment fee shall continue to accrue on the average daily amount of such Lender’s unused Revolving Commitment from and including after the Effective Commitment Termination Date to but excluding the date on which that all of such Lender’s Revolving Commitment terminatesCredit Exposure has been paid in full. The Applicable Percentage shall initially be 0.100%, but shall be reset from time to time as provided in the definition of “Applicable Percentage” herein. Accrued commitment fees shall be payable in arrears on the date which is three last Business Days following the last day Day of each February, May, August and November fiscal quarter of each year the Borrower and on the date on which the Revolving Commitments terminateCommitment Termination Date, commencing on the first such date to occur after the date hereof. All Closing Date; provided that any commitment fees shall be computed on accruing after the basis of a year of 360 days and Commitment Termination Date shall be payable for on demand. For purposes of computing commitment fees with respect to the actual number of days elapsed (including Revolving Commitments, the first day but excluding the last day). A Revolving Commitment of a each Lender shall be deemed to be used to the extent of:
(i) the Dollar Amount of the outstanding Revolving Loans and LC Exposure of such Lender;
Lender (ii) if such Lender is an Available Currency Lender, the Dollar Amount of such Lender’s Available Currency Loans; and
(iii) if such Lender is a Canadian Currency Lender, the Dollar Amount of such Lender’s Canadian Currency but outstanding Swingline Loans and the following shall not be disregarded for such purpose: (x) the Swingline Exposure of such Lender, (y) such Lender’s Applicable Percentage deemed usage of the Available Currency Loans and (z) such Revolving Commitment of each Lender’s Applicable Percentage of the Canadian Currency Loans).
Appears in 2 contracts
Sources: Revolving Credit Agreement (Watsco Inc), Revolving Credit Agreement (Watsco Inc)
Commitment Fees. IHS The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender a commitment fee, which shall accrue at the Applicable Rate Percentage (determined quarterly in accordance with Schedule I) on the average daily unused amount of each the unused Revolving Commitment of such Lender during the period Availability Period; provided, that if such Lender continues to have any Revolving Credit Exposure after the Commitment Termination Date, then the commitment fee shall continue to accrue on the average daily amount of such Lender’s unused Revolving Commitment from and including after the Effective Commitment Termination Date to but excluding the date on which that all of such Lender’s Revolving Commitment terminatesCredit Exposure has been paid in full; provided further that, as set forth in Section 10.15, no such fee shall be payable for the account of any Defaulting Lender during the applicable Default Period. The Applicable Percentage shall initially be 0.100%, but shall be reset from time to time as provided in the definition of “Applicable Percentage” herein. Accrued commitment fees shall be payable in arrears on the date which is three last Business Days following the last day Day of each February, May, August and November fiscal quarter of each year the Borrower and on the date on which the Revolving Commitments terminateCommitment Termination Date, commencing on the first such date to occur after the date hereof. All Closing Date; provided that any commitment fees shall be computed on accruing after the basis of a year of 360 days and Commitment Termination Date shall be payable for on demand. For purposes of computing commitment fees with respect to the actual number of days elapsed (including Revolving Commitments, the first day but excluding the last day). A Revolving Commitment of a each Lender shall be deemed to be used to the extent of:
(i) the Dollar Amount of the outstanding Revolving Loans and LC Exposure of such Lender;
Lender (ii) if such Lender is an Available Currency Lender, the Dollar Amount of such Lender’s Available Currency Loans; and
(iii) if such Lender is a Canadian Currency Lender, the Dollar Amount of such Lender’s Canadian Currency but outstanding Swingline Loans and the following shall not be disregarded for such purpose: (x) the Swingline Exposure of such Lender, (y) such Lender’s Applicable Percentage deemed usage of the Available Currency Loans and (z) such Revolving Commitment of each Lender’s Applicable Percentage of the Canadian Currency Loans).
Appears in 2 contracts
Sources: Revolving Credit Agreement (Watsco Inc), Revolving Credit Agreement (Watsco Inc)
Commitment Fees. IHS The Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Facility A Lender a commitment feeCommitment Fee, which shall accrue at a rate per annum equal to the Applicable Commitment Fee Rate for Facility A, on the daily average daily unused amount of each Revolving Commitment of such Lender during Facility A Lender’s Unused Commitment for Facility A from the period from date hereof to and including the Effective Date to but excluding the date on which such Revolving Commitment terminates. Accrued commitment fees shall be Facility A Termination Date, payable in arrears on the date which is three Business Days following the last day of each February, May, August and November of each year Quarterly Payment Date and on the date on which Facility A Termination Date and (ii) to the Revolving Commitments terminateAdministrative Agent for the account of each Facility B Revolver Lender a Commitment Fee, commencing at a rate per annum equal to the Applicable Commitment Fee Rate for Facility B, on the first daily average of such date to occur after Facility B Revolver Lender’s Unused Commitment for Facility B from the date hereofhereof to and including the Facility B Termination Date, payable in arrears on each Quarterly Payment Date and on the Facility B Termination Date. All commitment fees shall be computed on the basis of a year of 360 days and accrued Commitment Fees with respect to Facility A under this Section 2.07 shall be payable for on the actual number effective date of days elapsed (including any termination of the first day but excluding obligations of the last day). Facility A Revolving Lenders to make Facility A Loans hereunder, and all accrued Commitment of a Lender Fees with respect to Facility B under this Section 2.07 shall be deemed payable to each Facility B Revolver Lender on the effective date of any termination of its obligations to make Facility B Revolver Loans hereunder. The fees payable under this Section 2.07, once paid, shall not be used to the extent of:
(i) the Dollar Amount of the outstanding Revolving Loans and LC Exposure of such Lender;
(ii) if such Lender is an Available Currency Lender, the Dollar Amount of such Lender’s Available Currency Loans; and
(iii) if such Lender is a Canadian Currency Lender, the Dollar Amount of such Lender’s Canadian Currency Loans and the following shall be disregarded refundable for such purpose: (x) the Swingline Exposure of such Lender, (y) such Lender’s Applicable Percentage of the Available Currency Loans and (z) such Lender’s Applicable Percentage of the Canadian Currency Loansany reason.
Appears in 2 contracts
Sources: Credit Agreement (Lennar Corp /New/), Credit Agreement (Lennar Corp /New/)
Commitment Fees. IHS The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender a commitment fee, which shall accrue at the Applicable Rate (i) 0.375% per annum on the average daily unused amount of each Additional Revolving Commitment (the “Additional Revolving Commitment Fee”) and (ii) 1.0% per annum on the average daily unused amount of each Delayed Draw Commitment (the “Delayed Draw Commitment Fee”) of such Lender during the period from and including the Restatement Effective Date to but excluding the date on which such the aggregate Additional Revolving Commitment terminatesCommitments and Delayed Draw Commitments, as applicable, terminate. Accrued commitment fees shall be payable in arrears in respect of the Additional Revolving Commitments on the date which is three last Business Days following the last day Day of each FebruaryMarch, MayJune, August September and November December of each year and on the date on which the Additional Revolving Commitments terminate, commencing on the first such date to occur after the date hereof. Accrued commitment fees shall be payable in arrears in respect of the Delayed Draw Commitments on the last Business Day of March, June, September and December of each year and on the date on which the Delayed Draw Commitments terminate commencing on the first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). A For purposes of computing commitment fees with respect to Additional Revolving Commitments, an Additional Revolving Commitment of a Lender shall be deemed to be used to the extent of:
(i) the Dollar Amount of the outstanding Additional Revolving Loans and LC Exposure of such Lender;
Lender (ii) if and the Swingline Exposure of such Lender is an Available Currency Lender, the Dollar Amount of such Lender’s Available Currency Loans; and
(iii) if such Lender is a Canadian Currency Lender, the Dollar Amount of such Lender’s Canadian Currency Loans and the following shall be disregarded for such purpose: (x) the Swingline Exposure of such Lender, (y) such Lender’s Applicable Percentage of the Available Currency Loans and (z) such Lender’s Applicable Percentage of the Canadian Currency Loans).
Appears in 1 contract
Commitment Fees. IHS agrees to The Borrowers shall pay to the Administrative Agent for the account of each Revolving Lender a commitment fee, which shall accrue at the Applicable Rate fee on the average daily unused amount of each Revolving Commitment portion of such Lender during Revolving Lender's Loan Commitment (the period from and including the Effective Date to but excluding the date "Commitment Fee"), computed on which such Revolving Commitment terminates. Accrued commitment fees shall be payable a quarterly basis in arrears on the last Business Day of each calendar quarter based upon the daily utilization for that quarter as calculated by the Administrative Agent. At all times prior to the delivery of a Compliance Certificate pursuant to subsection 7.02(b) for the fiscal quarter ended March 31, 2003, the Commitment Fee shall be a per annum rate equal to 50.0 basis points and, at all times thereafter, the Commitment Fee shall be a per annum rate equal to the Commitment Fee in effect at such time as determined by reference to the Pricing Grid attached hereto as Schedule 1.01 and the applicable Total Leverage Ratio for the applicable period set forth in the most recent Compliance Certificate delivered pursuant to Section 7.02(b). For purposes of calculating utilization under this subsection 2.11(b), the Revolving Loan Commitments shall be deemed used to the extent of the aggregate amount of Revolving Loans then outstanding plus the aggregate amount of L/C Obligations then outstanding and shall not be deemed used by a Lender's Pro Rata Share of Swing Line Loans. Such commitment fee shall accrue from the date which is three Business Days following hereof to the Revolving Loan Termination Date and shall be due and payable quarterly in arrears on the last day Business Day of each Februarycalendar quarter commencing on March 31, May2003, August and November of each year and with the final payment to be made on the date on which the Revolving Commitments terminate, commencing on the first such date to occur Loan Termination Date. The Commitment Fee provided in this subsection 2.11(b) shall accrue at all times after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (, including the first day but excluding the last day). A Revolving Commitment of a Lender shall be deemed to be used to the extent of:
(i) the Dollar Amount of the outstanding Revolving Loans and LC Exposure of such Lender;
(ii) if such Lender is an Available Currency Lender, the Dollar Amount of such Lender’s Available Currency Loans; and
(iii) if such Lender is a Canadian Currency Lender, the Dollar Amount of such Lender’s Canadian Currency Loans and the following shall be disregarded for such purpose: (x) the Swingline Exposure of such Lender, (y) such Lender’s Applicable Percentage of the Available Currency Loans and (z) such Lender’s Applicable Percentage of the Canadian Currency Loansat any time during which one or more conditions in Article V are not met.
Appears in 1 contract
Commitment Fees. IHS (a) Subject to Section 2.10, the Company agrees to pay to the Administrative Agent for the account of each Revolving Lender a commitment fee, which shall accrue at the Applicable Rate on the average daily unused amount of each Revolving Commitment of such Lender during for the period from and including the Effective Date to but excluding the date on which the Effective Time occurs to the Termination Date, at a rate per annum equal to the Commitment Fee Rate in effect from time to time on such Revolving Lender’s Percentage with respect to the Revolving Facility of the unused amount of the Revolving Commitment terminatesAmount. Accrued For purposes of calculating usage under this Section, the Revolving Commitment Amount shall be deemed used to the extent of the sum of the aggregate outstanding principal amount of all Revolving Loans (but not Swing Line Loans) and the Stated Amount of Letters of Credit at such time. Such commitment fees fee shall be payable in arrears on the date which is three last Business Days following the last day Day of each February, May, August and November of each year calendar quarter and on the date on Termination Date for any period then ending for which the Revolving Commitments terminate, commencing on the first such date to occur after the date hereofcommitment fee shall not have theretofore been paid. All The commitment fees fee shall be computed for the actual number of days elapsed on the basis of a year of 360 days and days.
(b) Subject to Section 2.10, the Company agrees to pay to the Administrative Agent for the account of each DDTL Lender a commitment fee, for the period from November 20, 2021 to the DDTL Expiration Date, at a rate per annum equal to the DDTL Non-Use Fee Rate in effect from time to time such DDTL ▇▇▇▇▇▇’s Percentage with respect to the DDTL Facility of the unused amount of the DDTL Commitment Amount. The commitment fee shall be payable in arrears on the last Business Day of each calendar quarter prior to the DDTL Expiration Date and on the DDTL Expiration Date for any period then ending for which the commitment fee shall not have theretofore been paid. The commitment fee shall be computed for the actual number of days elapsed (including on the first day but excluding the last day). A Revolving Commitment basis of a Lender shall be deemed to be used to the extent of:
(i) the Dollar Amount year of the outstanding Revolving Loans and LC Exposure of such Lender;
(ii) if such Lender is an Available Currency Lender, the Dollar Amount of such Lender’s Available Currency Loans; and
(iii) if such Lender is a Canadian Currency Lender, the Dollar Amount of such Lender’s Canadian Currency Loans and the following shall be disregarded for such purpose: (x) the Swingline Exposure of such Lender, (y) such Lender’s Applicable Percentage of the Available Currency Loans and (z) such Lender’s Applicable Percentage of the Canadian Currency Loans360 days.
Appears in 1 contract
Sources: Credit Agreement (MIDDLEBY Corp)
Commitment Fees. IHS (a) The Company agrees to pay to the Revolving Loan Administrative Agent for the account of each Revolving Lender Loan Lender, for the period (including any portion thereof when any of its Commitments are suspended by reason of the Borrowers’ inability to satisfy any condition of Article V) commencing on the Closing Date and continuing through the Revolving Loan Commitment Termination Date, a commitment fee, which shall accrue at fee in an amount equal to the Applicable Rate Commitment Fee Margin, in each case on such Lender’s Revolving Loan Percentage of the sum of the average daily unused amount portion of the Revolving Loan Commitment Amount (net of Letter of Credit Outstandings). The making of Swing Line Loans shall not constitute usage of the Revolving Loan Commitment with respect to the calculation of commitment fees to be paid by the Borrowers to the Lenders.
(b) The Company agrees to pay to the Term Loan Administrative Agent for the account of each Revolving Commitment of such Lender during Term Loan Lender, for the period from (including any portion thereof when any of its Commitments are suspended by reason of the Borrowers’ inability to satisfy any condition of Article V) commencing on the Closing Date and including continuing through the Effective Date Term Loan Commitment Termination Date, a commitment fee in an amount equal to but excluding the date Applicable Commitment Fee Margin, in each case on which such Revolving Lender’s Term Loan Percentage of the sum of the average daily unused portion of the Term Loan Commitment terminatesAmount. Accrued All commitment fees payable pursuant to this Section shall be calculated on a year comprised of 360 days and payable by the Company in arrears on the date which is three Business Days Closing Date and thereafter on each Quarterly Payment Date, commencing with the first Quarterly Payment Date following the last day of each FebruaryClosing Date, May, August and November of each year and on the date on which the Revolving Commitments terminate, commencing on the first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). A Revolving applicable Commitment of a Lender shall be deemed to be used to the extent of:
(i) the Dollar Amount of the outstanding Revolving Loans and LC Exposure of such Lender;
(ii) if such Lender is an Available Currency Lender, the Dollar Amount of such Lender’s Available Currency Loans; and
(iii) if such Lender is a Canadian Currency Lender, the Dollar Amount of such Lender’s Canadian Currency Loans and the following shall be disregarded for such purpose: (x) the Swingline Exposure of such Lender, (y) such Lender’s Applicable Percentage of the Available Currency Loans and (z) such Lender’s Applicable Percentage of the Canadian Currency LoansTermination Date.
Appears in 1 contract
Sources: Credit Agreement (Ferro Corp)
Commitment Fees. IHS The Company agrees to pay (i) to the Administrative Agent for the account of each Revolving Facility A Lender a commitment feeCommitment Fee, which shall accrue at a rate per annum equal to the Applicable Commitment Fee Rate for Facility A, on the daily average daily unused amount of each Revolving Commitment of such Lender during Facility A Lender's Unused Commitment for Facility A from the period from date hereof to and including the Effective Date to but excluding the date on which such Revolving Commitment terminates. Accrued commitment fees shall be Facility A Termination Date, payable in arrears on the date which is three Business Days following the last day of each February, May, August and November of each year Quarterly Payment Date and on the date on which Facility A Termination Date and (ii) to the Revolving Commitments terminateAdministrative Agent for the account of each Facility B Revolver Lender a Commitment Fee, commencing at a rate per annum equal to the Applicable Commitment Fee Rate for Facility B, on the first daily average of such date to occur after Facility B Revolver Lender's Unused Commitment for Facility B from the date hereofhereof to and including the Facility B Termination Date, payable in arrears on each Quarterly Payment Date and on the Facility B Termination Date. All commitment fees shall be computed on the basis of a year of 360 days and accrued Commitment Fees with respect to Facility A under this Section 2.07 shall be payable for on the actual number effective date of days elapsed (including any termination of the first day but excluding obligations of the last day). Facility A Revolving Lenders to make Facility A Loans hereunder, and all accrued Commitment of a Lender Fees with respect to Facility B under this Section 2.07 shall be deemed payable to each Facility B Revolver Lender on the effective date of any termination of its obligations to make Facility B Revolver Loans hereunder. The fees payable under this Section 2.07, once paid, shall not be used to the extent of:
(i) the Dollar Amount of the outstanding Revolving Loans and LC Exposure of such Lender;
(ii) if such Lender is an Available Currency Lender, the Dollar Amount of such Lender’s Available Currency Loans; and
(iii) if such Lender is a Canadian Currency Lender, the Dollar Amount of such Lender’s Canadian Currency Loans and the following shall be disregarded refundable for such purpose: (x) the Swingline Exposure of such Lender, (y) such Lender’s Applicable Percentage of the Available Currency Loans and (z) such Lender’s Applicable Percentage of the Canadian Currency Loansany reason.
Appears in 1 contract
Sources: Credit Agreement (Lennar Corp /New/)
Commitment Fees. IHS The Borrower agrees to pay in Dollars to the Administrative Agent for the account of each Non-Extended Revolving Lender a commitment fee, which shall accrue at the Applicable Percentage for the Non-Extended Revolving Commitments (on an annualized basis but determined daily in accordance with Schedule I) on the daily amount of the Dollar Equivalent of the unused Non-Extended Revolving Commitment of such Lender during the Non-Extended Revolving Availability Period. The Borrower agrees to pay to the Administrative Agent for the account of each Extended Revolving Lender a commitment fee, which shall accrue at the Applicable Rate Percentage for the Extended Revolving Commitments (on an annualized basis but determined daily in accordance with Schedule I) on the average daily unused amount of each the unused Extended Revolving Commitment of such Lender during the period from and including the Effective Date to but excluding the date on which such Extended Revolving Commitment terminatesAvailability Period. Accrued For purposes of computing commitment fees shall be payable in arrears on the date which is three Business Days following the last day of each February, May, August and November of each year and on the date on which with respect to the Revolving Commitments terminateCommitments, commencing on the first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). A Non-Extended Revolving Commitment of a each Lender shall be deemed to be used to the extent of:
(i) the Dollar Amount of the outstanding Non-Extended Revolving Loans of such Lender, and the Extended Revolving Commitment of each Lender shall be deemed used to the extent of the outstanding Extended Revolving Loans and LC Exposure of such Lender;
(ii) if such Lender is an Available Currency Lender, the Dollar Amount of such Lender’s Available Currency Loans; and
(iii) if such Lender is a Canadian Currency Lender, the Dollar Amount of such Lender’s Canadian Currency however Swingline Loans and the following shall not be disregarded for such purpose: (x) the Swingline Exposure of such Lender, (y) such Lender’s Applicable Percentage deemed usage of the Available Currency Loans and (z) such Lender’s Applicable Percentage of the Canadian Currency LoansExtended Revolving Commitments.
Appears in 1 contract
Sources: Revolving Credit and Term Loan Agreement (Healthways, Inc)
Commitment Fees. IHS The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender a commitment fee, which shall accrue at the Applicable Rate Percentage (determined quarterly in accordance with Schedule I) on the average daily unused amount of each the unused Revolving Commitment of such Lender during the period Availability Period; provided, that if such Lender continues to have any Revolving Credit Exposure after the Commitment Termination Date, then the commitment fee shall continue to accrue on the average daily amount of such Lender's unused Revolving Commitment from and including after the Effective Commitment Termination Date to but excluding the date on which that all of such Lender's Revolving Commitment terminatesCredit Exposure has been paid in full. The Applicable Percentage shall initially be 0.25%, but shall be reset from time to time as provided in the definition of "Applicable Percentage" herein. Accrued commitment fees shall be payable in arrears on the date which is three Business Days following the last day of each FebruaryMarch, MayJune, August September and November December of each year and on the date on which the Revolving Commitments terminateCommitment Termination Date, commencing on the first such date to occur after the date hereof. All Closing Date; provided that any commitment fees shall be computed on accruing after the basis of a year of 360 days and Commitment Termination Date shall be payable for on demand. For purposes of computing commitment fees with respect to the actual number of days elapsed (including Revolving Commitments, the first day but excluding the last day). A Revolving Commitment of a each Lender shall be deemed to be used to the extent of:
(i) the Dollar Amount of the outstanding Revolving Loans and LC Exposure of such Lender;
(ii) if such Lender is an Available Currency Lender, the Dollar Amount of such Lender’s Available Currency Loans; and
(iii) if such Lender is a Canadian Currency Lender, the Dollar Amount of such Lender’s Canadian Currency Loans and the following shall be disregarded for such purpose: (x) the Swingline Exposure of such Lender, (y) such Lender’s Applicable Percentage of the Available Currency Loans and (z) such Lender’s Applicable Percentage of the Canadian Currency Loans.
Appears in 1 contract
Commitment Fees. IHS In consideration of the Revolving Committed Amount, Tranche A Term Loan Committed Amount and Tranche B Term Loan Committed Amount being made available by the Lenders hereunder, the Borrower agrees to pay to the Administrative Agent Agent, for the account pro rata benefit of each applicable Lender (based on each Lender's Revolving Lender Loan Commitment Percentage of the Revolving Committed Amount, Tranche A Term Loan Commitment Percentage of the Tranche A Term Loan Committed Amount and Tranche B Term Loan Commitment Percentage of the Tranche B Term Loan Committed Amount, as applicable), a commitment fee, which shall accrue at per annum fee equal to the Applicable Rate Percentage for Commitment Fees multiplied by the applicable Unused Commitment (the "Commitment Fees"). The Commitment Fees accrued prior to the Closing Date shall be paid on the average daily unused amount of each Revolving Effective Date and future Commitment of such Lender during the period from and including Fees shall commence to accrue on the Effective Date to but and excluding (i) with respect to the date on which such Revolving Commitment terminates. Accrued commitment fees shall be payable in arrears on Committed Amount, the date which is three Business Days following earlier of the last day of each February, May, August and November of each year and on Revolving Loan Maturity Date or the date on which the Revolving Commitments terminateCommitted Amount is terminated (ii) with respect to the Tranche A Term Loan, commencing on the first such date earlier of the Subordinated Notes Call Date and December 31, 1997 and (iii) with respect to occur after the date hereof. All commitment fees shall be computed on Tranche B Term Loan, the basis last of a year of 360 days the two Tranche B Term Loan Funding Dates, and shall be due and payable for the actual number of days elapsed (including the first day but excluding in arrears on the last day). A Revolving Commitment day of a Lender shall be deemed to be used to the extent of:
(i) the Dollar Amount of the outstanding Revolving Loans and LC Exposure of such Lender;
(ii) if such Lender is an Available Currency Lender, the Dollar Amount of such Lender’s Available Currency Loans; and
(iii) if such Lender is a Canadian Currency Lender, the Dollar Amount of such Lender’s Canadian Currency Loans and the following shall be disregarded for such purpose: (x) the Swingline Exposure of such Lender, (y) such Lender’s Applicable Percentage of the Available Currency Loans and (z) such Lender’s Applicable Percentage of the Canadian Currency Loans.each
Appears in 1 contract
Commitment Fees. IHS agrees In consideration of each Lender’s commitment to make Loans, during the period from the Closing Date through the Tranche A Commitment Termination Date, Borrower will pay to the Administrative Agent for the account of each Revolving Lender a commitment feefee with respect to such Lender’s Tranche A Commitment determined on a daily basis by applying the applicable Commitment Fee Rate to such Lender’s Percentage Share of the unused portion of the Tranche A Facility Amount on each day, which shall accrue determined for each such day by deducting from the amount of the Borrowing Base at the Applicable Rate on end of such day the average daily unused sum of (i) the aggregate unpaid principal balance of the Tranche A Loans at the end of such day plus (ii) the amount of each Revolving Commitment all LC Obligations at the end of such Lender day. In addition, during the period from and including the Effective Closing Date through the Tranche B Commitment Termination Date, Borrower will pay to but excluding Administrative Agent for the date account of each Lender a commitment fee with respect to such Lender’s Tranche B Commitment determined on which a daily basis by applying the applicable Commitment Fee Rate to such Revolving Commitment terminatesLender’s Percentage Share of the unused portion of the Tranche B Facility Amount on each day, determined for each such day by deducting from the amount of the Tranche B Facility Amount at the end of such day the aggregate unpaid principal balance of the Tranche B Loans at the end of such day. Accrued These commitment fees shall be due and payable in arrears arrears, with the first payment due on the date which is three Business Days following December 31, 2003, and thereafter on the last day of each FebruaryFiscal Quarter, Maywith respect to the commitment fees payable in respect of the Tranche A Commitments, August and November of each year and on the date on which Tranche A Commitment Termination Date, and with respect to the Revolving Commitments terminatecommitment fees payable in respect of the Tranche B Commitments, commencing on the first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). A Revolving Tranche B Commitment of a Lender shall be deemed to be used to the extent of:
(i) the Dollar Amount of the outstanding Revolving Loans and LC Exposure of such Lender;
(ii) if such Lender is an Available Currency Lender, the Dollar Amount of such Lender’s Available Currency Loans; and
(iii) if such Lender is a Canadian Currency Lender, the Dollar Amount of such Lender’s Canadian Currency Loans and the following shall be disregarded for such purpose: (x) the Swingline Exposure of such Lender, (y) such Lender’s Applicable Percentage of the Available Currency Loans and (z) such Lender’s Applicable Percentage of the Canadian Currency LoansTermination Date.
Appears in 1 contract
Commitment Fees. IHS agrees The Parent Borrowers jointly and severally agree to pay to the Administrative Agent for the account of each Revolving Lender a commitment fee, which shall accrue at the Applicable Rate on the average daily unused amount of each Revolving Commitment of such Lender during fee for the period from and including the Effective Date first day of the Revolving Commitment Period to but excluding the date Revolving Termination Date, computed at a rate equal to the Applicable Rate per annum on which the average daily amount of such Revolving Lender's Revolving Commitment terminates. Accrued commitment fees shall be Percentage of the Available Revolving Commitment during the period (calculated as if no Swing Line Loans were outstanding during such period) for which payment is made, payable quarterly in arrears on the date which is three Business Days following the last day of each February, May, August and November of each year Fee Payment Date and on the Revolving Termination Date (or such earlier date on which the Revolving Commitments terminateLoans become due and payable pursuant to Section 10), commencing on the first of such date dates to occur after the date hereof. All commitment fees shall be computed on The Parent Borrowers jointly and severally agree to pay to the basis of a year of 360 days and shall be payable Administrative Agent for the actual number account of days elapsed (each Term Lender a commitment fee for the period from and including the first day but excluding of the Term Commitment Period to the last day). A Revolving day of the Term Commitment of Period, computed at a Lender shall be deemed to be used rate equal to the extent of:
(i) Applicable Rate per annum on the Dollar Amount of the outstanding Revolving Loans and LC Exposure average daily amount of such Lender;
(ii) if such Lender is an Available Currency Lender, the Dollar Amount of such Lender’s Available Currency Loans; and
(iii) if such Lender is a Canadian Currency Lender, the Dollar Amount of such Lender’s Canadian Currency Loans and the following shall be disregarded for such purpose: (x) the Swingline Exposure of such Lender, (y) such Lender’s Applicable 's Term Commitment Percentage of the Available Currency Loans Term Commitment during the period for which payment is made, payable quarterly in arrears on each Fee Payment Date and (z) such Lender’s Applicable Percentage on the last day of the Canadian Currency LoansTerm Commitment Period, commencing on the first of such dates to occur after the date hereof.
Appears in 1 contract
Sources: Credit and Guarantee Agreement (Young & Rubicam Inc)
Commitment Fees. IHS The Borrower agrees to pay to the Administrative Agent for the account of (a) each Five-Year Revolving Lender according to its Five-Year Revolving Pro Rata Share a commitment fee, which shall accrue fee at the per annum rate specified therefor in the definition of Applicable Rate Margin on the average daily unused amount of each Available Aggregate Five-Year Revolving Commitment of such Lender during from the period from Amendment No. 5 Effective Date to and including the Effective Date to but excluding the date on which such Five-Year Revolving Commitment terminates. Accrued commitment fees shall be Loan Termination Date, payable in arrears on the date which is three Business Days following the last day of each February, May, August and November of each year Payment Date hereafter and on the date on which Five-Year Revolving Loan Termination Date and (b) each 364-Day Revolving Lender according to its 364-Day Revolving Pro Rata Share a commitment fee at the Revolving Commitments terminate, commencing per annum rate specified therefor in the definition of Applicable Margin on the first such date average daily Available Aggregate 364-Day Revolving Commitment from the Amendment No. 5 Effective Date to occur after and including the date hereof. All 364-Day Revolving Loan Termination Date, payable in arrears on each Payment Date hereafter and on the 364-Day Revolving Loan Termination Date; provided, that commitment fees shall be computed on not accrue in respect of the basis 364-Day Revolving Commitments after the expiry of a year of 360 days and shall be payable 364-Day Revolving Facility Availability Period unless the scheduled termination date for the actual number 364-Day Revolving Commitments is extended pursuant to the terms hereof. Swing Line Loans shall not count as usage of days elapsed (including the first day but excluding the last day). A Five-Year Revolving Commitment for the purpose of a Lender shall be deemed to be used to calculating the extent of:
(i) the Dollar Amount of the outstanding Revolving Loans and LC Exposure of such Lender;
(ii) if such Lender is an Available Currency Lender, the Dollar Amount of such Lender’s Available Currency Loans; and
(iii) if such Lender is a Canadian Currency Lender, the Dollar Amount of such Lender’s Canadian Currency Loans and the following shall be disregarded for such purpose: (x) the Swingline Exposure of such Lender, (y) such Lender’s Applicable Percentage of the Available Currency Loans and (z) such Lender’s Applicable Percentage of the Canadian Currency Loanscommitment fee due hereunder.
Appears in 1 contract
Sources: Credit Agreement (Andersons, Inc.)
Commitment Fees. IHS agrees to (a) The Borrower shall pay to the Administrative Agent for the account of each Revolving Credit Lender a commitment fee, which shall accrue at the Applicable Rate fee on the daily average daily unused amount of each such Lender's Revolving Commitment of such Lender during Credit Commitment, for the period from and including the Amendment Effective Date to but excluding the earlier of the date on which such Revolving Commitment terminatesis terminated or expires, at a rate per annum equal to the Applicable Rate. Accrued For purposes of computing commitment fees shall be payable in arrears on the date which is three Business Days following the last day of each Februaryunder this paragraph (a), May, August and November of each year and on the date on which (1) the Revolving Commitments terminate, commencing on the first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). A Revolving Credit Commitment of a Lender (other than a Lender that is also the Swingline Lender) shall be deemed to be used to the extent of the outstanding Revolving Credit Loans and LC Exposure of such Lender (and the Swingline Exposure of such Lender shall be disregarded for such purpose) and (2) the Revolving Credit Commitment of a Lender that is also the Swingline Lender shall be deemed to be used to the extent of:
(i) the Dollar Amount of the outstanding Revolving Loans and Credit Loans, LC Exposure of such Lender;
(ii) if such Lender is an Available Currency Lender, the Dollar Amount of such Lender’s Available Currency Loans; and
(iii) if such Lender is a Canadian Currency Lender, the Dollar Amount of such Lender’s Canadian Currency Loans and the following shall be disregarded for such purpose: (x) the Swingline Exposure of such Lender.
(b) The Borrower shall pay to the Administrative Agent for account of each Lender having an Incremental Revolving Credit Commitment a commitment fee at a rate per annum agreed to between the Borrower and the relevant Incremental Lender or Lenders in the applicable Incremental Loan Amendment.
(c) Commitment fees accrued through and including the last day of each calendar quarter shall be payable in arrears on the third Business Day following such last day, (y) commencing with the first such Lender’s Applicable Percentage of day after the Available Currency Loans Amendment Effective Date, and (z) such Lender’s Applicable Percentage of on the Canadian Currency Loansdate the applicable Commitments are terminated or expire.
Appears in 1 contract
Commitment Fees. IHS The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender a commitment fee, which shall accrue at the Applicable Rate Percentage (determined quarterly in accordance with Schedule I) on the average daily unused amount of each the unused Revolving Commitment of such Lender during the period Availability Period; provided, that if such Lender continues to have any Revolving Credit Exposure after the Commitment Termination Date, then the commitment fee shall continue to accrue on the average daily amount of such Lender’s unused Revolving Commitment from and including after the Effective Commitment Termination Date to but excluding the date on which that all of such Lender’s Revolving Commitment terminatesCredit Exposure has been paid in full. The Applicable Percentage shall initially be 0.150%, but shall be reset from time to time as provided in the definition of “Applicable Percentage” herein. Accrued commitment fees shall be payable in arrears on the date which is three Business Days following the last day of each February, May, August and November fiscal quarter of each year the Borrower and on the date on which the Revolving Commitments terminateCommitment Termination Date, commencing on the first such date to occur after the date hereof. All Closing Date; provided that any commitment fees shall be computed on accruing after the basis of a year of 360 days and Commitment Termination Date shall be payable for on demand. For purposes of computing commitment fees with respect to the actual number of days elapsed (including Revolving Commitments, the first day but excluding the last day). A Revolving Commitment of a each Lender shall be deemed to be used to the extent of:
(i) the Dollar Amount of the outstanding Revolving Loans and LC Exposure of such Lender;
Lender (ii) if such Lender is an Available Currency Lender, the Dollar Amount of such Lender’s Available Currency Loans; and
(iii) if such Lender is a Canadian Currency Lender, the Dollar Amount of such Lender’s Canadian Currency but outstanding Swingline Loans and the following shall not be disregarded for such purpose: (x) the Swingline Exposure of such Lender, (y) such Lender’s Applicable Percentage deemed usage of the Available Currency Loans and (z) such Revolving Commitment of each Lender’s Applicable Percentage of the Canadian Currency Loans).
Appears in 1 contract
Commitment Fees. IHS agrees to (a) The Borrower shall pay to the Administrative Agent for the account of each Revolving Credit Lender a commitment fee, which shall accrue at the Applicable Rate fee on the daily average daily unused amount of such Revolving Credit Lender's Revolving Credit Agreement Credit Commitment (for which purpose the aggregate amount of any Letter of Credit Liabilities shall be deemed to be a pro rata (based on the Revolving Credit Commitments) use of each Revolving Commitment of such Lender during Credit Lender's Revolving Credit Commitment), for the period from and including the Effective date of this Agreement to but not including the earlier of the date such Revolving Credit Commitment is terminated and the Revolving Credit Commitment Termination Date, at a rate per annum equal to Applicable Commitment Fee Rate.
(b) The Borrower shall pay to the Agent for account of each Tranche C Lender a commitment fee on the daily average unused amount of such Tranche C Lender's Tranche C Term Loan Commitment, for the period from and including the Tranche C Term Loan Activation Date to but excluding not including the earlier of the date on which such Revolving Tranche C Term Loan Commitment terminates. is terminated and the Tranche C Term Loan Commitment Termination Date, at a rate per annum equal to a rate agreed to by the Borrower and the Tranche C Lenders and specified in the Tranche C Term Loan Activation Notice.
(c) Accrued commitment fees fee shall be payable in arrears on the date which is three Business Days following the last day of each February, May, August and November of each year Quarterly Date and on the earlier of the date on which the relevant Commitment is terminated and either the Revolving Commitments terminateCredit Commitment Termination Date or the Tranche C Term Loan Commitment Termination Date, commencing on as the first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). A Revolving Commitment of a Lender shall be deemed to be used to the extent of:
(i) the Dollar Amount of the outstanding Revolving Loans and LC Exposure of such Lender;
(ii) if such Lender is an Available Currency Lender, the Dollar Amount of such Lender’s Available Currency Loans; and
(iii) if such Lender is a Canadian Currency Lender, the Dollar Amount of such Lender’s Canadian Currency Loans and the following shall be disregarded for such purpose: (x) the Swingline Exposure of such Lender, (y) such Lender’s Applicable Percentage of the Available Currency Loans and (z) such Lender’s Applicable Percentage of the Canadian Currency Loanscase may be.
Appears in 1 contract
Sources: Third Amended and Restated Credit Agreement (Sinclair Broadcast Group Inc)
Commitment Fees. IHS The Company agrees to pay to the Administrative Agent for the account of each Lender that has a Revolving Lender Loan Commitment, for each day during the period (including any portion thereof when any of the Lenders' Commitments are suspended by reason of the Company's inability to satisfy any condition of Article V) commencing on the Effective Date and continuing to but excluding the Revolving Loan Commitment Termination Date, a commitment fee, which shall accrue in Dollars, on such Lender's Percentage of the unused portion, whether or not then available, of the Revolving Loan Commitment Amount (net of Letter of Credit Outstandings) for such day at a rate per annum equal to the Applicable Rate Commitment Fee for such day. Such commitment fee shall be payable by the Company in arrears on each Quarterly Payment Date, commencing with the first such day following the Effective Date, and on the average daily unused amount Revolving Loan Commitment Termination Date. The making of each Swing Line Loans and Uncommitted Revolving Loans shall not constitute usage of the Revolving Loan Commitment with respect to the calculation of commitment fees to be paid by the Company to the Lenders; provided, however, that the making of Uncommitted Revolving Loans by any Lender shall constitute usage of such Lender during Lender's Percentage of the Revolving Loan Commitment Amount for purposes of calculating the commitment fees payable to such Lender. Any term or provision hereof to the contrary notwithstanding, commitment fees payable for any period from and including prior to the Effective Date to but excluding the date on which such Revolving Commitment terminates. Accrued commitment fees shall be payable in arrears accordance with the Existing Credit Agreement. Payments by the Company to the Swing Line Lender in respect of accrued interest on the date which is three Business Days following the last day of each February, May, August and November of each year and on the date on which the Revolving Commitments terminate, commencing on the first such date to occur after the date hereof. All commitment fees Swing Line Loans shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). A Revolving Commitment of a Lender shall be deemed to be used to the extent of:
(i) the Dollar Amount net of the outstanding Revolving Loans and LC Exposure of such Lender;
(ii) if such Lender is an Available Currency Lender, the Dollar Amount of such Lender’s Available Currency Loans; and
(iii) if such Lender is a Canadian Currency Lender, the Dollar Amount of such Lender’s Canadian Currency Loans and the following shall be disregarded for such purpose: (x) the Swingline Exposure of such Lender, (y) such Lender’s Applicable Percentage commitment fee payable in respect of the Available Currency Loans and (z) such Swing Line Lender’s Applicable Percentage of the Canadian Currency Loans's Revolving Loan Commitment.
Appears in 1 contract
Commitment Fees. IHS The Company agrees to pay to the Revolving Loan Administrative Agent for the account of each Original Revolving Lender Loan Lender, for the period (including any portion thereof when any of its Commitments are suspended by reason of the Borrowers’ inability to satisfy any condition of Article V) commencing on the Closing Date and continuing through the Original Revolving Loan Commitment Termination Date, a commitment fee, which shall accrue at fee in an amount equal to the Applicable Rate Commitment Fee Margin, in each case on such Lender’s Original Revolving Loan Percentage of the sum of the average daily unused amount portion of the Revolving Loan Commitment Amount (net of Letter of Credit Outstandings). The Company agrees to pay to the Revolving Loan Administrative Agent for the account of each Extended Revolving Commitment of such Lender during Loan Lender, for the period from (including any portion thereof when any of its Commitments are suspended by reason of the Borrowers’ inability to satisfy any condition of Article V) commencing on the Closing Date and including continuing through the Effective Date Extended Revolving Loan Commitment Termination Date, a commitment fee in an amount equal to but excluding the date Applicable Commitment Fee Margin, in each case on which such Lender’s Extended Revolving Loan Percentage of the sum of the average daily unused portion of the Revolving Loan Commitment terminatesAmount (net of Letter of Credit Outstandings). Accrued The making of Swing Line Loans shall not constitute usage of the Revolving Loan Commitment with respect to the calculation of commitment fees to be paid by the Borrowers to the Lenders. All commitment fees payable pursuant to this Section shall be calculated on a year comprised of 360 days and payable by the Company in arrears on the date which is three Business Days Closing Date and thereafter on each Quarterly Payment Date, commencing with the first Quarterly Payment Date following the last day of each FebruaryClosing Date, May, August and November of each year and on the date on which Original Revolving Loan Commitment Termination Date or the Extended Revolving Commitments terminateLoan Commitment Termination Date, commencing on the first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). A Revolving Commitment of a Lender shall be deemed to be used to the extent of:
(i) the Dollar Amount of the outstanding Revolving Loans and LC Exposure of such Lender;
(ii) if such Lender is an Available Currency Lender, the Dollar Amount of such Lender’s Available Currency Loans; and
(iii) if such Lender is a Canadian Currency Lender, the Dollar Amount of such Lender’s Canadian Currency Loans and the following shall be disregarded for such purpose: (x) the Swingline Exposure of such Lender, (y) such Lender’s Applicable Percentage of the Available Currency Loans and (z) such Lender’s Applicable Percentage of the Canadian Currency Loansas applicable.
Appears in 1 contract
Sources: Credit Agreement (Ferro Corp)
Commitment Fees. IHS The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender a commitment fee, which shall accrue at the Applicable Rate Percentage (determined quarterly in accordance with Schedule I or Schedule II, as applicable) on the average daily unused amount of each ---------- ----------- the unused Revolving Commitment of such Lender during the period Availability Period; provided, that if such Lender continues to have any Revolving Credit Exposure -------- after the Commitment Termination Date, then the commitment fee shall continue to accrue on the average daily amount of such Lender's unused Revolving Commitment from and including after the Effective Commitment Termination Date to but excluding the date on which that all of such Lender's Revolving Commitment terminatesCredit Exposure has been paid in full. The Applicable Percentage shall initially be 0.25%, but shall be reset from time to time as provided in the definition of "Applicable Percentage" herein. Accrued commitment fees shall be payable in arrears on the date which is three Business Days following the last day of each February, May, August and November fiscal quarter of each year the Borrower and on the date on which the Revolving Commitments terminateCommitment Termination Date, commencing on the first such date to occur after the date hereof. All Closing Date; provided that any commitment fees shall be computed on accruing after -------- the basis of a year of 360 days and Commitment Termination Date shall be payable for on demand. For purposes of computing commitment fees with respect to the actual number of days elapsed (including Revolving Commitments, the first day but excluding the last day). A Revolving Commitment of a each Lender shall be deemed to be used to the extent of:
(i) the Dollar Amount of the outstanding Revolving Loans and LC Exposure of such Lender;
Lender (ii) if such Lender is an Available Currency Lender, the Dollar Amount of such Lender’s Available Currency Loans; and
(iii) if such Lender is a Canadian Currency Lender, the Dollar Amount of such Lender’s Canadian Currency but outstanding Swingline Loans and the following shall not be disregarded for such purpose: (x) the Swingline Exposure of such Lender, (y) such Lender’s Applicable Percentage deemed usage of the Available Currency Loans and (z) such Revolving Commitment of each Lender’s Applicable Percentage of the Canadian Currency Loans).
Appears in 1 contract
Commitment Fees. IHS agrees The Borrowers agree to pay to the Administrative Managing Agent for a fee (the account of each Revolving Lender a commitment fee, which shall accrue at "Commitment Fee") in an amount equal to the Applicable Rate Commitment Fee on the average daily unused amount portion of the Total Commitment during each Revolving Commitment of such Lender during the period fiscal quarter or portion thereof from and including the Effective Date to but excluding the Maturity Date (or to the date on which such Revolving of termination in full of the Total Commitment, if earlier). The Commitment terminates. Accrued commitment fees Fee shall be payable in arrears on the date which is three Business Days following the last day of each Februaryfiscal quarter commencing with the fiscal quarter ending December 31, May1996, August and November for the fiscal quarter then ending, with a final payment on the Maturity Date (or to the date of termination in full of the Total Commitment, if earlier). For purposes of computing the Commitment Fee, the Maximum Drawing Amount of all L/Cs shall be considered usage with respect to the Commitment. For purposes of determining the unused portion of the Multicurrency Commitment, the Dollar Equivalent of each year Multicurrency Loan and the Maximum Drawing Amount of all International L/Cs as determined on the Drawdown Date, and on the date on which of subsequent adjustments made twice per month shall be the amount used in connection with the usage of the Multicurrency Commitment. That portion of the Commitment Fee payable with respect to the Revolving Commitments terminate, commencing on the first such date to occur after the date hereof. All commitment fees Credit Commitment shall be computed on shared among the basis Lenders pro rata in accordance with their Revolving Credit Commitment Percentages. That portion of a year of 360 days and the Commitment Fee payable with respect to the Multicurrency Commitment shall be payable for shared among the actual number of days elapsed (including the first day but excluding the last day). A Revolving Multicurrency Lenders pro rata in accordance with their respective Multicurrency Commitment of a Lender shall be deemed to be used to the extent of:
(i) the Dollar Amount of the outstanding Revolving Loans and LC Exposure of such Lender;
(ii) if such Lender is an Available Currency Lender, the Dollar Amount of such Lender’s Available Currency Loans; and
(iii) if such Lender is a Canadian Currency Lender, the Dollar Amount of such Lender’s Canadian Currency Loans and the following shall be disregarded for such purpose: (x) the Swingline Exposure of such Lender, (y) such Lender’s Applicable Percentage of the Available Currency Loans and (z) such Lender’s Applicable Percentage of the Canadian Currency LoansPercentages.
Appears in 1 contract
Sources: Multicurrency Credit Agreement (United States Filter Corp)