Common use of Foreign Currency Commitment Unused Fee Clause in Contracts

Foreign Currency Commitment Unused Fee. In consideration of the Foreign Currency Commitments of the Foreign Currency Lenders hereunder, Airgas and the Foreign Borrowers agree to pay to the Agent for the account of the Foreign Currency Lenders a fee (the “Foreign Currency Commitment Unused Fee”) on the actual daily amount by which (a) the Foreign Currency Committed Amount exceeds (b) the U.S. Dollar Equivalent of the outstanding aggregate principal amount of all Foreign Currency Loans, computed at a per annum rate for each day during the applicable period at a rate equal to the Applicable Rate in effect from time to time. The Foreign Currency Commitment Unused Fee shall commence to accrue on the Closing Date and shall be due and payable in arrears on the last Business Day of each March, June, September and December (and any date that the Foreign Currency Committed Amount is reduced as provided in Section 4.4 and the Maturity Date) for the immediately preceding quarter (or portion thereof), beginning with the first of such dates to occur after the Closing Date. The Foreign Currency Commitment Unused Fee shall be subject to adjustment as provided in Section 4.16. Notwithstanding the forgoing, each Foreign Swingline Lender hereby agrees that interest payable by the applicable Foreign Swingline Borrower on the Foreign Swingline Loans owing to such Foreign Swingline Lender as described in Section 3.3 shall be reduced by the amount of any Foreign Currency Commitment Unused Fee received by such Foreign Swingline Lender based on its Foreign Currency Commitment equal to the amount of such Foreign Swingline Loans.