Common use of Utilization Fees Clause in Contracts

Utilization Fees. (i) If on any day the sum of the aggregate outstanding principal amount of all Loans to the Borrowers plus the L/C Obligations then outstanding exceeds the product of (A) one-half (1/2) times (B) the Revolving Loan Commitment, each Borrower shall pay to the Administrative Agent, for the pro rata benefit of each Lender, a per annum fee equal to the Applicable Percentage for Utilization Fees multiplied by such Borrower’s outstanding Loans plus the L/C Obligations then outstanding (the “Utilization Fees”). (ii) The accrued Utilization Fees shall be due and payable quarterly in arrears on each Fee Payment Date (as well as on any date that the Revolving Loan Commitment is reduced), beginning with the first of such dates to occur after the Closing Date.

Utilization Fees. (i) If on any day the sum of the aggregate outstanding principal amount of all Revolving Loans to the Borrowers and Competitive Bid Loans plus the L/C Obligations then outstanding amount of Letters of Credit Outstanding on such day exceeds the product of (A) one-half (1/2) 50% times (B) the Revolving Loan Commitmentaggregate amount of Commitments then in effect, each the Borrower shall agrees to pay to the Administrative Agent, for the pro rata benefit of each Lender, a per annum fee equal to the Applicable Percentage for Utilization Fees multiplied by such Borrower’s outstanding Loans plus the L/C Obligations then outstanding Utilized Revolving Loan Commitment (the “Utilization Fees”). (ii) The accrued Utilization Fees shall be due and payable quarterly in arrears on 15 days after the end of each Fee Payment Date fiscal quarter of the Borrower for the immediately preceding fiscal quarter (as well as on any date that the Revolving Loan Commitment is reducedor portion thereof), beginning with the first of such dates to occur after the Closing Date, as well as on each Maturity Date.