Common use of Tranche C Clause in Contracts

Tranche C. The Borrower must pay to the Facility Agent on account of the Financiers proportionally to their respective Tranche C Commitments an unused commitment fee in US Dollars at a per annum rate equal to 30% of the Margin on the daily unutilised balance of the Tranche C Commitment. This fee: (i) accrues daily from the date of this agreement up to and including the Tranche C Termination Date; (ii) is calculated on the basis of the actual number of days elapsed and of a 360 day year; and (iii) is payable in arrears, on the last day of each calendar month, and on the Tranche C Termination Date or, if earlier, on the day on which the Tranche C Commitment reduces to zero.