Common use of Utilisation fee Clause in Contracts

Utilisation fee. (a) Each Obligor shall pay to the Agent in euros, for distribution to each Bank a utilisation fee on the Original Euro Amount of all Utilisations outstanding on each day during any quarter in which the utilisation fee is payable in accordance with Clause 22.4(b) at the rate per annum specified in Clause 10.5 (Margin and utilisation fee) above. (b) The utilisation fee is calculated and accrues from the Signing Date and shall be payable in respect of each quarter during which the total aggregate amount of Utilisations exceeds 50 per cent. of Total Commitments quarterly in arrears on the same date that the Commitment Fee referred to in Clause 22.2(b) (Commitment fee) above is paid. Accrued utilisation fee is also payable to the Agent for the relevant Banks on the Final Maturity Date.

Utilisation fee. (a) Each Obligor shall pay to the Agent in euros, for distribution to each Bank a utilisation fee on the Original Euro Amount of all Utilisations outstanding on each day during any quarter in which the utilisation fee is payable in accordance with Clause 22.4(b23.4(b) at the rate of 0.05 per annum specified in Clause 10.5 (Margin and utilisation fee) abovecent. per annum. (b) The utilisation fee is calculated and accrues from the Signing Effective Date and shall be payable in respect of each quarter during which the total aggregate amount of Utilisations exceeds 50 per cent. of Total Commitments quarterly in arrears on the same date that the Commitment Fee referred to in Clause 22.2(b23.2(b) (Commitment fee) above is paid. Accrued utilisation fee is also payable to the Agent for the relevant Banks on the Final Maturity Date.