Common use of Section Fees Clause in Contracts

Section Fees. The Borrower agrees to pay to the Agent for the account of each Lender a facility fee based on such Lender's Commitment (determined without giving effect to any B Reduction or Borrowing) from the date hereof, in the case of each Bank, and from the effective date specified in the Assignment and Acceptance pursuant to which it became a Lender, in the case of each other Lender, until the Termination Date, payable quarterly in arrears on the last day of each March, June, September and December during the term of such Lender's Commitment, commencing September 30, 1997, and on the Termination Date, at a rate per annum equal to the Applicable Fee Percentage.