Common use of Unused Line Fees Clause in Contracts

Unused Line Fees. 3.5.1 On each Fee Payment Date, Borrowers shall pay to Administrative Agent, for the ratable benefit of Lenders, a commitment fee equal to the sum of the Revolving Daily Unused Fee Amounts for each day of the Fee Period immediately preceding such Fee Payment Date. On the Revolving Termination Date, Borrowers shall pay to Administrative Agent, for the ratable benefit of Lenders, a commitment fee equal to the sum of the Revolving Daily Unused Fee Amounts for each day of the period from the immediately preceding Fee Payment Date up to but not including the Revolving Termination Date. 3.5.2 On each Fee Payment Date, Borrowers shall pay to Administrative Agent, for the ratable benefit of Lenders, a commitment fee equal to the sum of the Term Loan Daily Unused Fee Amounts for each day of the Fee Period immediately preceding such Fee Payment Date. On the Term Loan Termination Date, Borrowers shall pay to Administrative Agent, for the ratable benefit of Lenders, a commitment fee equal to the sum of the Term Loan Daily Unused Fee Amounts for each day of the period from the immediately preceding Fee Payment Date up to but not including the Term Loan Termination Date. 3.5.3 The fees in this Section shall be due and payable in arrears on each Fee Payment Date, the Revolving Termination Date, and the Term Loan Termination Date.