Common use of Non-Use Fee Clause in Contracts

Non-Use Fee. The Borrowers hereby jointly and severally agree to pay to the Administrative Agent, for the account of each Facility A Lender, a non-use fee, for the period from the Closing Date to the Facility A Termination Date, at the Non-Use Fee Rate in effect from time to time of such Facility A Lender’s Pro Rata Share (as adjusted from time to time) of the daily average of the unused amount of the Maximum Revolving Commitment. For purposes of calculating usage under this Section, the Maximum Revolving Commitment shall be deemed used to the extent of Revolving Outstandings. Such non-use fee shall be payable in arrears on the last day of each calendar month and on the Facility A Termination Date for any period then ending for which such non-use fee shall not have previously been paid. The non-use fee shall be computed for the actual number of days elapsed on the basis of a year of 360 days.

Appears in 1 contract

Sources: Credit Agreement (Russ Berrie & Co Inc)

Non-Use Fee. The Borrowers hereby jointly and severally agree to pay to the Administrative Agent, for the account of each Facility A LenderLender with a Revolving Commitment, a non-use fee, for the period from the Closing Date to the Facility A Termination Date, at the Non-Use Fee Rate in effect from time to time of such Facility A Lender’s Pro Rata Share (as adjusted from time to time) of the daily average of the unused amount of the Maximum Revolving Commitment. For purposes of calculating usage under this Section, the Maximum Revolving Commitment shall be deemed used to the extent of Revolving Outstandings. Such non-use fee shall be payable in arrears on the last day of each calendar month and on the Facility A Termination Date for any period then ending for which such non-use fee shall not have previously been paid. The non-use fee shall be computed for the actual number of days elapsed on the basis of a year of 360 days.

Appears in 1 contract

Sources: Credit Agreement (Russ Berrie & Co Inc)

Non-Use Fee. The Borrowers hereby jointly and severally agree to pay to the Administrative Agent, for the account of each Facility A LenderLender with a Revolving Commitment, a non-use fee, for the period from the Closing Date to the Facility A Termination Date, at the Non-Use Fee Rate in effect from time to time of such Facility A Lender’s Pro Rata Share (as adjusted from time to time) of the daily average of the unused amount of the Maximum Revolving Commitment. For purposes of calculating usage under this Section, the Maximum Revolving Commitment shall be deemed used to the extent of Revolving Outstandings. Such non-use fee shall be payable in arrears on the last day of each calendar month Fiscal Quarter ending after the Closing Date and on the Facility A Termination Date for any period then ending for which such non-use fee shall not have previously been paid. The non-use fee shall be computed for the actual number of days elapsed on the basis of a year of 360 days.

Appears in 1 contract

Sources: Credit Agreement (Russ Berrie & Co Inc)

Non-Use Fee. The Borrowers hereby jointly and severally agree Company agrees to pay to the Administrative Agent, Agent for the account of each Facility A Lender, Lender a non-use feefee (except as provided in Section 2.6), for the period from the Closing Date to the Facility A Termination Date, at the Non-Use Fee Rate in effect from time to time of on such Facility A Lender’s Pro Rata Share (as adjusted from time to time) of the average daily average of the unused amount of the Maximum Revolving CommitmentCommitment during each calendar month. For purposes of calculating usage under this Section, the Maximum Revolving Commitment shall be deemed used to the extent of Revolving Outstandings. Such non-use fee shall be fully earned by the Lenders on the first day of each month and payable monthly in arrears on the first Business Day of each month with respect to all activity through the last day of each calendar the prior month and on the Facility A Termination Date for any period then ending for which such non-use fee shall not have previously been paid. The non-use fee shall be computed for the actual number of days elapsed on the basis of a year of 360 days.

Appears in 1 contract

Sources: Credit Agreement (Continental Materials Corp)

Non-Use Fee. The Borrowers hereby jointly and severally agree Company agrees to pay to the Administrative Agent, Agent for the account of each Facility A Lender, Lender a non-use fee, for the period from the Closing Date to the Facility A Termination Date, at the Non-Use Fee Rate in effect from time to time of on such Facility A Lender’s Pro Rata Share (as adjusted from time to time) of the daily average of the unused amount of the Maximum Revolving CommitmentCommitment during each calendar month. For purposes of calculating usage under this Section, the Maximum Revolving Commitment shall be deemed used to the extent of Revolving Outstandings. Such non-use fee shall be fully earned by the Lenders on the first day of each month and payable monthly in arrears on the first Business Day of each month with respect to all activity through the last day of each calendar the prior month and on the Facility A Termination Date for any period then ending for which such non-use fee shall not have previously been paid. The non-use fee shall be computed for the actual number of days elapsed on the basis of a year of 360 days.

Appears in 1 contract

Sources: Credit Agreement (Continental Materials Corp)