Common use of Undrawn Commitment Fee Clause in Contracts

Undrawn Commitment Fee. The Borrower shall pay to the Agent for the account of each Bank in accordance with its Pro Rata Share, an undrawn commitment fee which shall accrue at the rate of 0.15% per annum on the daily amount of the undrawn Commitment of such Bank during the period from and including the Effective Date to but excluding the Commitment Termination Date. Accrued fees shall be payable quarterly in arrears on the last day of each February, May, August and November prior to the Commitment Termination Date and on the Commitment Termination Date.

Undrawn Commitment Fee. The Borrower shall pay to the Administrative Agent for the account of each Bank Lender in accordance with its Pro Rata SharePercentage, an undrawn commitment fee which shall accrue at the rate of 0.150.25% per annum on the daily amount of the undrawn Commitment of such Bank Lender during the period from and including the Effective Date to but excluding the Commitment Termination Date. Accrued Commencing on May 31, 2011, accrued fees shall be payable quarterly in arrears on the last day of each February, May, August and November prior to the Commitment Termination Date and on the Commitment Termination Date.