DISTRIBUTION OF INTEREST AND UNUSED LINE FEES Clause Samples
The 'Distribution of Interest and Unused Line Fees' clause defines how interest earned and fees charged for unused portions of a credit line are allocated among the parties involved. Typically, this clause specifies the calculation method for interest accrued on deposited funds and outlines how fees for undrawn credit amounts are assessed and distributed, often between the lender and borrower. Its core function is to ensure transparency and fairness in the allocation of financial benefits and costs associated with the use and non-use of credit facilities, thereby preventing disputes over these monetary flows.
DISTRIBUTION OF INTEREST AND UNUSED LINE FEES. Interest on the Revolving Loans (including Agent Advances) and the Unused Line Fee shall be allocated by the Agent to each Lender (i) in the case of interest, in accordance with the Revolving Loans actually advanced by and repaid to such Lender and (ii) in the case of the Unused Line Fee, in accordance with the Proportionate Share of such Lender. Interest shall accrue from and including the date Revolving Loans are advanced and to but excluding the date such Revolving Loans are either repaid by the Borrowers or, if later, actually settled under this Section. Promptly after the end of each month, the Agent shall distribute to each Lender its portion, allocated as provided above, of the interest and Unused Line Fee which has been received by the Agent during such month.
DISTRIBUTION OF INTEREST AND UNUSED LINE FEES. Interest on the Revolving Loans (including Agent Advances), shall be allocated by the Agent to each Lender in accordance with the proportionate share of Revolving Loans actually advanced by and repaid to each Lender, and shall accrue from and including the date such Revolving Loans are so advanced and to but excluding the date such Revolving Loans are either repaid or actually settled under this Section. The amount of the Unused Line Fee shall be allocated by the Agent to each Lender in accordance with that Lender's Proportionate Share. After the end of each month, the Agent shall promptly, upon receipt from a Borrower, distribute to each Lender its share of the interest and Unused Line Fee accrued during such month. The Agent shall, upon receipt from a Borrower, distribute interest on Eurodollar Rate Loans promptly after it is received from a Borrower.
DISTRIBUTION OF INTEREST AND UNUSED LINE FEES. Interest on --------------------------------------------- the Revolving Loans (including Agent Advances) together with the amount of the Unused Line Fee, shall be allocated by the Agent to each Revolving Credit Lender in accordance with the Revolving Credit Proportionate Share of Revolving Loans actually advanced by and repaid to each Revolving Credit Lender, and shall accrue from the date such Revolving Loans are so advanced and to the date such Revolving Loans are either repaid by a Borrower or actually settled under this Section 2.6. Promptly after the end of each month, the Agent shall distribute ----------- to each Revolving Credit Lender its Revolving Credit Proportionate Share of the interest and Unused Line Fee accrued and paid (or deemed paid) to the Agent during that month; provided, however, that the Agent shall distribute interest -------- ------- on Eurodollar Rate Loans promptly after it is received.
DISTRIBUTION OF INTEREST AND UNUSED LINE FEES. Interest on the Revolving Loans (including Agent Advances) together with the amount of the Unused Line Fee, shall be allocated by the Agent to each Lender in accordance with the Proportionate Share of Revolving Loans actually funded by and repaid to each Lender, and shall accrue from and including the date such Revolving Loans are so advanced and to but excluding the date such Revolving Loans are either repaid by the Borrower or actually settled under this Section. Promptly after the end of each month (or, with respect to interest on Eurodollar Rate Loans, promptly after such interest is received by the Agent), the Agent shall distribute to each Lender its Proportionate Share of the interest and Unused Line Fee accrued during that month.
DISTRIBUTION OF INTEREST AND UNUSED LINE FEES. Interest on the Loans (including Agent Advances) together with the amount of the Unused Line Fee, shall be allocated by the Agent to each Lender in accordance with the Proportionate Share of Loans actually advanced by and repaid to each Lender, and shall accrue from and including the date such Loans are so advanced and to but excluding the date such Loans are either repaid by the applicable Borrower or actually settled under this Section. Promptly after the end of each month, the Agent shall distribute to each Lender its Proportionate Share of the interest and Unused Line Fee accrued during and paid with respect to that month. The Agent shall distribute interest on Eurodollar Rate Loans promptly after it is received.
DISTRIBUTION OF INTEREST AND UNUSED LINE FEES. Interest on the Advances (including Agent Advances) together with the amount of the Unused Line Fee, shall be allocated by the Agent to each Lender in accordance with the Revolving Credit Proportionate Share of Advances actually advanced by and repaid to each Lender, and shall accrue from the date such Advances are so advanced and to the date such Advances are either repaid by the Borrower or actually settled under this Section 3.
DISTRIBUTION OF INTEREST AND UNUSED LINE FEES. Interest on --------------------------------------------- the Loans (including Agent Advances) together with the amount of the Unused Line Fee, shall be allocated by the Agent to each Lender in accordance with the Proportionate Share of Loans actually advanced by and repaid to each Lender, and shall accrue from the date such Loans are so advanced and to the date such Loans are either repaid by a Borrower or actually settled under this Section 2.6. ----------- Promptly after the end of each month, the Agent shall distribute to each Lender its Proportionate Share of the interest and Unused Line Fee accrued and paid (or deemed paid) to the Agent during that month; provided, however, that the Agent -------- ------- shall distribute interest on Eurodollar Rate Loans promptly after it is received.
DISTRIBUTION OF INTEREST AND UNUSED LINE FEES. Interest on the Revolving Loans (including Agent Advances) and the Unused Line Fee shall be allocated by the Agent to each Lender (I) in the case of interest, in accordance with the Revolving Loans actually advanced by and repaid to such Lender and (II) in the case of the Unused Line Fee, in accordance with the Proportionate Share of such Lender. Interest shall accrue from and including the date Revolving Loans are advanced and to but excluding the date such Revolving Loans
DISTRIBUTION OF INTEREST AND UNUSED LINE FEES. Interest on the Loans (including Agent Advances) together with the amount of the Unused Line Fee, shall be allocated by the Agent to each Lender in accordance with the Proportionate Share of Loans actually advanced by and repaid to each Lender, and shall accrue from and including the date such Loans are so advanced and to but excluding the date such Loans are either repaid by the Borrower or actually settled under this Section. Promptly after the end of each month, the Agent shall distribute to each Lender its Proportionate Share of the interest and Unused Line Fee accrued during that month. The Agent shall distribute interest on Eurodollar Rate Loans promptly after it is received.
DISTRIBUTION OF INTEREST AND UNUSED LINE FEES. Interest on the Revolving Loans (including Agent Revolving Advances) and the Unused Line Fee shall be allocated by the Agent to each Revolving Lender (I) in the case of interest, in accordance with the Revolving Loans actually advanced by and repaid to such Revolving Lender and (II) in the case of the Unused Line Fee, in accordance with the Proportionate Share of such Revolving Lender. Interest shall accrue from and including the date Revolving Loans are advanced and to but excluding the date such Revolving Loans are either repaid by the Borrowers or, if later, actually settled under this SECTION 2.