Common use of Undrawn Commitment Fee Clause in Contracts

Undrawn Commitment Fee. The Borrowers shall pay to the Administrative Agent for the account of the Lenders an Undrawn Commitment Fee calculated as follows: (a) The Undrawn Commitment Fee shall be payable on the amount by which the Commitment Amount shall exceed the average principal amount of Advances outstanding under the Commitment during such calendar month. (b) For all months during which the interest on the Advances shall be calculated on the basis of Pricing Tier 1 or Pricing Tier 2, the rate at which such Undrawn Commitment Fee shall be calculated shall be an annualized amount equal to ten basis points (i.e. 0.10%). For all months during which the interest on the Advances shall be calculated on the basis of Pricing Tier 3, the rate at which such Undrawn Commitment Fee shall be calculated shall be an annualized amount equal to fifteen basis points (i.e. 0.15%). For all months during which the interest on the Advances shall be calculated on the basis of Pricing Tier 4, the rate at which such Undrawn Commitment Fee shall be calculated shall be an annualized amount equal to twenty basis points (i.e. 0.20%). For all months during which the interest on the Advances shall be calculated on the basis of Pricing Tier 5 or the Default Rate, the rate at which such Undrawn Commitment Fee shall be calculated shall be an annualized amount equal to twenty-five basis points (i.e. 0.25%). The calculation shall be performed on the basis of a three hundred sixty (360) day year for actual days elapsed. (c) The Undrawn Commitment Fee shall be calculated on a monthly basis but shall be payable quarterly in arrears on the Interest Payment Dates in February, May, August, and November.

Undrawn Commitment Fee. The Borrowers shall pay to the Administrative Agent for the account of the Lenders an Undrawn Commitment Fee calculated as follows: (a) The Undrawn Commitment Fee shall be payable on the amount by which the Commitment Amount shall exceed the average principal amount of Advances outstanding under the Commitment during such calendar month. (b) For all months during which the interest on the Advances shall be calculated on the basis of Pricing Tier 1 or Pricing Tier 2, the rate at which such Undrawn Credit Agreement Commitment Fee shall be calculated shall be an annualized amount equal to ten basis points (i.e. 0.10%). For all months during which the interest on the Advances shall be calculated on the basis of Pricing Tier 3, the rate at which such Undrawn Commitment Fee shall be calculated shall be an annualized amount equal to fifteen basis points (i.e. 0.15%). For all months during which the interest on the Advances shall be calculated on the basis of Pricing Tier 4, the rate at which such Undrawn Commitment Fee shall be calculated shall be an annualized amount equal to twenty basis points (i.e. 0.20%). For all months during which the interest on the Advances shall be calculated on the basis of Pricing Tier 5 or the Default Rate, the rate at which such Undrawn Commitment Fee shall be calculated shall be an annualized amount equal to twenty-five basis points (i.e. 0.25%). The calculation shall be performed on the basis of a three hundred sixty (360) day year for actual days elapsed. (c) The Undrawn Commitment Fee shall be calculated on a monthly basis but shall be payable quarterly in arrears on the Interest Payment Dates in February, May, August, and November.