Common use of Unused Line Fees Clause in Contracts

Unused Line Fees. Accruing for each day from the Closing Date until the Expiration Date (and without regard to whether the conditions to making Revolving Credit Loans are then met), the Borrower agrees to pay to the Administrative Agent for the account of each Lender according to its Ratable Share, a nonrefundable unused line fee (the “Unused Line Fee”) in Dollars, equal to the Applicable Margin for Unused Line Fee for such day (computed on the basis of a year of 360 days and actual days elapsed) multiplied by the difference for such day between the amount of (a) the Revolving Credit Commitments minus (b) the Revolving Facility Usage (provided, however, that solely in connection with determining the share of each Lender in the Unused Line Fee, the Revolving Facility Usage with respect to the portion of the Unused Line Fee allocated to PNC shall include the full amount of the outstanding Swingline Loans, and with respect to the portion of the Unused Line Fee allocated by the Administrative Agent to all of the Lenders other than PNC, such portion of the Unused Line Fee shall be calculated (according to each such Lender's Ratable Share) as if the Revolving Facility Usage excludes the outstanding Swingline Loans); provided, that no Defaulting Lender shall be entitled to receive any Unused Line Fee for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such Unused Line Fee that otherwise would have been required to have been paid to that Defaulting Lender). Subject to the proviso in the directly preceding sentence, all Unused Line Fees shall be payable in arrears on each applicable Payment Date.

Appears in 1 contract

Sources: Credit Agreement (Richardson Electronics, Ltd.)

Unused Line Fees. Accruing for each day from (i) Solely during the Closing Date until the Expiration Date (and without regard to whether the conditions to making Revolving Credit Loans are then met)Availability Period, the Borrower agrees to pay to the Administrative Agent each Class A Funding Agent, for the account benefit of each the Non-Conduit Lenders in its related Class A Lender according to its Ratable ShareGroup and as consideration for the Commitment of the Non-Conduit Lenders in such Class A Lender Group, a nonrefundable unused line fee fees in Dollars (the “Class A Unused Line Fee”) in Dollars, equal for the period from the Original Closing Date to the Applicable Margin for Unused Line Fee for such last day (of the Availability Period, computed on the basis of a year of 360 days and actual days elapsed) multiplied by the difference for such day between the amount of as (a) the Revolving Credit Commitments minus applicable Unused Line Fee Percentage multiplied by (b) the Revolving Facility Usage average Unused Portion of the Commitments with respect to such Class A Lender Group during a calendar quarter. Accrued Class A Unused Line Fees shall be due and payable in arrears (provided, however, that solely in connection with determining the share of each Lender from Distributable Collections as set forth and in the order of priority established pursuant to Section 2.7) on the Payment Date immediately following the last day of the applicable calendar quarter for which such fee was calculated and on the last day of the Availability Period. (ii) Prior to the Class B Availability Termination Date, the Borrower agrees to pay to each Class B Funding Agent, for the benefit of the Non-Conduit Lenders in its related Class B Lender Group and as consideration for the Commitment of the Non-Conduit Lenders in such Class B Lender Group, unused line fees in Dollars (the “Class B Unused Line Fee” and, together with the Class A Unused Line Fee, the Revolving Facility Usage “UnusuedUnused Line Fee”) for the period from the Original Closing Date to the Class B Availability Termination Date, computed as (a) the applicable Unused Line Fee Percentage multiplied by (b) the average Unused Portion of the Commitments with respect to the portion of the Unused Line Fee allocated to PNC shall include the full amount of the outstanding Swingline Loans, and with respect to the portion of the Unused Line Fee allocated by the Administrative Agent to all of the Lenders other than PNC, such portion of the Unused Line Fee shall be calculated (according to each such Lender's Ratable Share) as if the Revolving Facility Usage excludes the outstanding Swingline Loans); provided, that no Defaulting Class B Lender shall be entitled to receive any Unused Line Fee for any period Group during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such Unused Line Fee that otherwise would have been required to have been paid to that Defaulting Lender)calendar quarter. Subject to the proviso in the directly preceding sentence, all Accrued Class B Unused Line Fees shall be due and payable in arrears (from Distributable Collections as set forth and in the order of priority established pursuant to Section 2.7) on each the Payment Date immediately following the last day of the applicable Payment calendar quarter for which such fee was calculated and on the day before the Class B Availability Termination Date.

Appears in 1 contract

Sources: Credit Agreement (Sunnova Energy International Inc.)

Unused Line Fees. Accruing for each day from (i) Solely during the Closing Date until the Expiration Date (and without regard to whether the conditions to making Revolving Credit Loans are then met)Availability Period, the Borrower agrees to pay to the Administrative Agent each Class A Funding Agent, for the account benefit of each the Non-Conduit Lenders in its related Class A Lender according to its Ratable ShareGroup and as consideration for the Commitment of the Non-Conduit Lenders in such Class A Lender Group, a nonrefundable unused line fees in Dollars (the “Class A Unused Line Fee”) for the period from the Original Closing Date to the last day of the Availability Period, computed as (a) the applicable Unused Line Fee Percentage multiplied by (b) the average Unused Portion of the Commitments with respect to such Class A Lender Group during a calendar quarter. Accrued Class A Unused Line Fees shall be due and payable in arrears (from Distributable Collections as set forth and in the order of priority established pursuant to Section 2.7) on the Payment Date immediately following the last day of the applicable calendar quarter for which such fee was calculated and on the last day of the Availability Period. (ii) Prior to the Class B Availability Termination Date, the Borrower agrees to pay to each Class B Funding Agent, for the benefit of the Non-Conduit Lenders in its related Class B Lender Group and as consideration for the Commitment of the Non-Conduit Lenders in such Class B Lender Group, unused line fees in Dollars (the “Class B Unused Line Fee” and, together with the Class A Unused Line Fee, the “Unused Line Fee”) in Dollars, equal for the period from the Original Closing Date to the Applicable Margin for Unused Line Fee for such day (Class B Availability Termination Date, computed on the basis of a year of 360 days and actual days elapsed) multiplied by the difference for such day between the amount of as (a) the Revolving Credit Commitments minus applicable Unused Line Fee Percentage multiplied by (b) the Revolving Facility Usage (provided, however, that solely in connection with determining average Unused Portion of the share of each Lender in the Unused Line Fee, the Revolving Facility Usage Commitments with respect to the portion of the Unused Line Fee allocated to PNC shall include the full amount of the outstanding Swingline Loans, and with respect to the portion of the Unused Line Fee allocated by the Administrative Agent to all of the Lenders other than PNC, such portion of the Unused Line Fee shall be calculated (according to each such Lender's Ratable Share) as if the Revolving Facility Usage excludes the outstanding Swingline Loans); provided, that no Defaulting Class B Lender shall be entitled to receive any Unused Line Fee for any period Group during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such Unused Line Fee that otherwise would have been required to have been paid to that Defaulting Lender)calendar quarter. Subject to the proviso in the directly preceding sentence, all Accrued Class B Unused Line Fees shall be due and payable in arrears (from Distributable Collections as set forth and in the order of priority established pursuant to Section 2.7) on each the Payment Date immediately following the last day of the applicable Payment calendar quarter for which such fee was calculated and on the day before the Class B Availability Termination Date.

Appears in 1 contract

Sources: Credit Agreement (Sunnova Energy International Inc.)

Unused Line Fees. Accruing for each day from the Closing Date until the Expiration Date (and without regard to whether the conditions to making Revolving Credit Loans are then met), the The Borrower agrees to pay to the Administrative Agent each Funding Agent, for the account benefit of each the Committed Lender according to in its Ratable Share, a nonrefundable Lender Group and as consideration for the Commitment of such Committed Lender in such Lender Group unused line fee fees in Dollars (the “Unused Line Fee”) in Dollarsfor the period from the Closing Date to (and including) the Third Amendment and Restatement Date, equal to the Applicable Margin for Unused Line Fee for such day (computed on the basis of a year of 360 days and actual days elapsed) multiplied by the difference for such day between the amount of as (a) the Revolving Credit Commitments minus Unused Line Fee Percentage multiplied by (b) the Revolving Facility Usage (providedaverage Unused Portion of the Commitments with respect to such Lender Group during each monthly period from and including a Payment Date to, however, that solely in connection with determining the share of each Lender in the Unused Line Feebut not including, the Revolving Facility Usage next subsequent Payment Date (or with respect to the portion of period from and including March 1, 2025 to and including the Unused Line Fee allocated to PNC shall include Third Amendment and Restatement Date (the full amount of the outstanding Swingline Loans“March 2025 Period”), and with respect calculated before giving effect to the portion of amendments to the Unused Line Fee allocated by the Administrative Agent to all Commitments of the Lenders other than PNC, such portion on the Third Amendment and Restatement Date by this Agreement and payable on the earlier of (x) the Unused Line Fee shall be calculated first Payment Date following the Third Amendment and Restatement Date and (according to each such Lender's Ratable Sharey) as if the Revolving Facility Usage excludes first Takeout Transaction following the outstanding Swingline LoansThird Amendment and Restatement Date); provided, that no Defaulting for the purposes of this provision, the Commitment of any Committed Lender shall be entitled deemed to receive any Unused Line Fee for any period during which that be zero if such Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such Unused Line Fee that otherwise would have been required to have been paid to that Defaulting Lender). Subject to the proviso in the directly preceding sentence, all Accrued Unused Line Fees shall be due and payable in arrears (from available Collections as set forth and in the order of priority established pursuant to Section 2.7) on each Payment Date for the period from, and including, the immediately preceding Payment Date to, but not including, such applicable Payment Date or, with respect to the March 2025 Period, on the earlier of (x) the first Payment Date following the Third Amendment and Restatement Date and (y) the first Takeout Transaction following the Third Amendment and Restatement Date, as applicable.

Appears in 1 contract

Sources: Third Amended and Restated Credit Agreement (Sunnova Energy International Inc.)

Unused Line Fees. Accruing for each day from With respect to the Closing Date until the Expiration Date (and without regard to whether the conditions to making Revolving Credit Loans are then met)Tranche A Subfacility, the Borrower agrees to Borrowers thereunder shall, jointly and severally, pay to the Administrative Agent Agent, for the account of each Lender according to its Ratable Sharethe Tranche A Revolving Lenders (other than any Defaulting Lender), a nonrefundable unused line fee in Dollars equal to the Unused Line Fee Rate with respect to the Tranche A Subfacility multiplied by the average daily amount by which the Tranche A Revolving Commitments (other than Tranche A Revolving Commitments of a Defaulting Lender) the sum of (x) the aggregate principal amount of Tranche A Revolving Loans (other than Swingline Loans) then outstanding and (y) the aggregate Stated Amount of outstanding Letters of Credit available to be drawn during any fiscal quarter (such fee, the "Tranche A Revolving Unused Line Fee") and (ii) with respect to the Delayed Draw Term Loan Facility, the U.S. Parent Borrower shall pay to the Administrative Agent, for the account of the Delayed Draw Term Lenders (other than any Defaulting Lender), a fee in Dollars, Dollars equal to the Applicable Margin for Unused Line Fee for such Rate with respect to the Delayed Draw Term Loan Facility multiplied by the amount of Delayed Draw Term Loan Commitments then remaining outstanding (other than Delayed Draw Term Loan Commitments of a Defaulting Lender) (the "Delayed Draw Unused Line Fee" and, together with the Tranche A Revolving Unused Line Fee, the "Unused Line Fees"). The Tranche A Revolving Unused Line Fee shall accrue commencing on the first day (following the Second Restatement Effective Date until the last day of the Tranche A Revolving Availability Period, and will be payable in arrears on each Adjustment Date and on the Tranche A Maturity Date. The Delayed Draw Unused Line Fee shall accrue commencing on the first day following the Second Restatement Effective Date until the Delayed Draw Term Loan Commitment Termination Date, and will be payable in arrears on each Adjustment Date and on the Delayed Draw Term Loan Commitment Termination Date. Each Unused Line Fee shall be computed on the basis of a year of 360 days and actual days elapsed) multiplied by the difference for such day between the amount of (a) the Revolving Credit Commitments minus (b) the Revolving Facility Usage (provided, however, that solely in connection with determining the share of each Lender in the Unused Line Fee, the Revolving Facility Usage with respect to the portion of the Unused Line Fee allocated to PNC shall include the full amount of the outstanding Swingline Loans, and with respect to the portion of the Unused Line Fee allocated by the Administrative Agent to all of the Lenders other than PNC, such portion of the Unused Line Fee shall be calculated (according to each such Lender's Ratable Share) as if the Revolving Facility Usage excludes the outstanding Swingline Loans); provided, that no Defaulting Lender shall be entitled to receive any Unused Line Fee for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such Unused Line Fee that otherwise would have been required to have been paid to that Defaulting Lender). Subject to the proviso in the directly preceding sentence, all Unused Line Fees shall be payable in arrears on each applicable Payment Datefor the actual number of days elapsed.

Appears in 1 contract

Sources: Credit Agreement (SunOpta Inc.)

Unused Line Fees. Accruing for each day from (i) With respect to the Closing Date until the Expiration Date (and without regard to whether the conditions to making Revolving Credit Loans are then met)RevolvingTranche A FSubfacility, the Borrower agrees to Borrowers thereunder shall, jointly and severally, pay to the Administrative Agent Agent, for the account of each Lender according to its Ratable Sharethe Trance A Revolving Lenders (other than any Defaulting Lender), a nonrefundable unused line fee in Dollars equal to the Unused Line Fee Rate with respect to the Tranche A Subfacility multiplied by the average daily amount by which the Tranche A Revolving Commitments (other than Tranche A Revolving Commitments of a Defaulting Lender) the sum of (x) the aggregate principal amount of Tranche A Revolving Loans (other than Swingline Loans) then outstanding and (y) the aggregate Stated Amount of outstanding Letters of Credit available to be drawn during any fiscal quarter (such fee, the "Tranche A Revolving Unused Line Fee") and (ii) with respect to the Delayed Draw Term Loan Facility, the U.S. Parent Borrower shall pay to the Administrative Agent, for the account of the Delayed Draw Term Lenders (other than any Defaulting Lender), a fee in Dollars, Dollars equal to the Applicable Margin for Unused Line Fee for such Rate with respect to the Delayed Draw Term Loan Facility multiplied by the amount of Delayed Draw Term Loan Commitments then remaining outstanding (other than Delayed Draw Term Loan Commitments of a Defaulting Lender) (the "Delayed Draw Unused Line Fee" and, together with the Tranche A Revolving Unused Line Fee, the "Unused Line Fees"). The Tranche A Revolving Unused Line Fee shall accrue commencing on the first day (following the Second Restatement Effective Date until the last day of the Tranche A Revolving Availability Period, and will be payable in arrears on each Adjustment Date and on the RevolvingTranche A Maturity Date. The Delayed Draw Unused Line Fee shall accrue commencing on the first day following the Second Restatement Effective Date until the Delayed Draw Term Loan Commitment Termination Date, and will be payable in arrears on each Adjustment Date and on the Delayed Draw Term Loan Commitment Termination Date. Each Unused Line Fee shall be computed on the basis of a year of 360 days and actual days elapsed) multiplied by the difference for such day between the amount of (a) the Revolving Credit Commitments minus (b) the Revolving Facility Usage (provided, however, that solely in connection with determining the share of each Lender in the Unused Line Fee, the Revolving Facility Usage with respect to the portion of the Unused Line Fee allocated to PNC shall include the full amount of the outstanding Swingline Loans, and with respect to the portion of the Unused Line Fee allocated by the Administrative Agent to all of the Lenders other than PNC, such portion of the Unused Line Fee shall be calculated (according to each such Lender's Ratable Share) as if the Revolving Facility Usage excludes the outstanding Swingline Loans); provided, that no Defaulting Lender shall be entitled to receive any Unused Line Fee for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such Unused Line Fee that otherwise would have been required to have been paid to that Defaulting Lender). Subject to the proviso in the directly preceding sentence, all Unused Line Fees shall be payable in arrears on each applicable Payment Datefor the actual number of days elapsed.

Appears in 1 contract

Sources: Credit Agreement (SunOpta Inc.)

Unused Line Fees. Accruing for each day from (i) Solely during the Closing Date until the Expiration Date (and without regard to whether the conditions to making Revolving Credit Loans are then met)Availability Period, the Borrower agrees to pay to the Administrative Agent each Class A Funding Agent, for the account benefit of each the Non-Conduit Lenders in its related Class A Lender according to its Ratable ShareGroup and as consideration for the Commitment of the Non-Conduit Lenders in such Class A Lender Group, a nonrefundable unused line fee fees in Dollars (the “Class A Unused Line Fee”) in Dollars, equal for the period from the Original Closing Date to the Applicable Margin for Unused Line Fee for such last day (of the Availability Period, computed on the basis of a year of 360 days and actual days elapsed) multiplied by the difference for such day between the amount of as (a) the Revolving Credit Commitments minus applicable Unused Line Fee Percentage multiplied by (b) the Revolving Facility Usage average Unused Portion of the Commitments with respect to such Class A Lender Group during a calendar quarter. Accrued Class A Unused Line Fees shall be due and payable in arrears (provided, however, that solely in connection with determining the share of each Lender from Distributable Collections as set forth and in the order of priority established pursuant to Section 2.7) on the Payment Date immediately following the last day of the applicable calendar quarter for which such fee was calculated and on the last day of the Availability Period. (ii) Prior to the Class B Availability Termination Date, the Borrower agrees to pay to each Class B Funding Agent, for the benefit of the Non-Conduit Lenders in its related Class B Lender Group and as consideration for the Commitment of the Non-Conduit Lenders in such Class B Lender Group, unused line fees in Dollars (the “Class B Unused Line Fee” and, together with the Class A Unused Line Fee, the Revolving Facility Usage “Unusued Line Fee”) for the period from the Original Closing Date to the Class B Availability Termination Date, computed as (a) the applicable Unused Line Fee Percentage multiplied by (b) the average Unused Portion of the Commitments with respect to the portion of the Unused Line Fee allocated to PNC shall include the full amount of the outstanding Swingline Loans, and with respect to the portion of the Unused Line Fee allocated by the Administrative Agent to all of the Lenders other than PNC, such portion of the Unused Line Fee shall be calculated (according to each such Lender's Ratable Share) as if the Revolving Facility Usage excludes the outstanding Swingline Loans); provided, that no Defaulting Class B Lender shall be entitled to receive any Unused Line Fee for any period Group during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such Unused Line Fee that otherwise would have been required to have been paid to that Defaulting Lender)calendar quarter. Subject to the proviso in the directly preceding sentence, all Accrued Class B Unused Line Fees shall be due and payable in arrears (from Distributable Collections as set forth and in the order of priority established pursuant to Section 2.7) on each the Payment Date immediately following the last day of the applicable Payment calendar quarter for which such fee was calculated and on the day before the Class B Availability Termination Date.

Appears in 1 contract

Sources: Credit Agreement (Sunnova Energy International Inc.)

Unused Line Fees. Accruing for each day from (a) In addition to any other fee provided herein or in the Closing Date until Fee Letters to be paid by the Expiration Date (and without regard to whether Borrowers on account of the conditions to making Tranche A Revolving Credit Loans are then met)Loans, the Borrower agrees to Borrowers shall pay to the Administrative Agent Agent, for the account of each Lender according to its Ratable Sharethe Tranche A Revolving Lenders, a nonrefundable an unused line fee (the “Unused Line Fee”"TRANCHE A UNUSED LINE FEE") in Dollars, equal to the Applicable Margin for Unused Line Fee for such day 0.375% per annum (computed on the basis of actual days elapsed in a year of 360 days and actual days elapseddays) multiplied by of the difference for such day between average difference, during the amount of calendar quarter just ended (a) the Revolving Credit Commitments minus (b) the Revolving Facility Usage (provided, however, that solely in connection with determining the share of each Lender in the Unused Line Fee, the Revolving Facility Usage or relevant period with respect to the portion payment being made on the Termination Date) between (i) the aggregate Tranche A Revolving Commitments of the Tranche A Revolving Lenders and (ii) the aggregate outstanding amount of the Tranche A Revolving Credit Extensions. The Tranche A Unused Line Fee allocated to PNC shall include the full amount of the outstanding Swingline Loans, and with respect to the portion of the Unused Line Fee allocated by the Administrative Agent to all of the Lenders other than PNC, such portion of the Unused Line Fee shall be calculated (according to each such Lender's Ratable Share) as if the Revolving Facility Usage excludes the outstanding Swingline Loans); provided, that no Defaulting Lender shall be entitled to receive so accrued in any Unused Line Fee for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such Unused Line Fee that otherwise would have been required to have been paid to that Defaulting Lender). Subject to the proviso in the directly preceding sentence, all Unused Line Fees calendar quarter shall be payable in arrears on each applicable Payment the first Business Day of the immediately succeeding calendar quarter, except that all Tranche A Unused Line Fees so accrued as of the Termination Date shall be payable on the Termination Date. (b) In addition to any other fee provided herein or in the Fee Letters to be paid by the Borrowers on account of the Tranche B Revolving Loans, the Borrowers shall pay to the Administrative Agent, for the account of the Tranche B Revolving Lenders, an unused line fee (the "TRANCHE B UNUSED LINE FEE") equal to 0.375% per annum (on the basis of actual days elapsed in a year of 360 days) of the average difference, during the calendar quarter just ended (or relevant period with respect to the payment being made on the Termination Date) between (i) the aggregate Tranche B Revolving Commitments of the Tranche B Revolving Lenders and (ii) the aggregate outstanding amount of the Tranche B Revolving Credit Extensions. The Tranche B Unused Line Fee so accrued in any calendar quarter shall be payable in arrears on the first Business Day of the immediately succeeding calendar quarter, except that all Tranche B Unused Line Fees so accrued as of the Termination Date shall be payable on the Termination Date.

Appears in 1 contract

Sources: Credit Agreement (Footstar Inc)