Example ContractsClausesUnused Line Fee
Remove:

Unused Line Fee. An unused line fee shall be due and payable quarterly in arrears on the first day of each fiscal quarter in an amount equal to 0.375% per annum times the result of # , less # the sum of # the average Daily Balance of Advances that were outstanding during the immediately preceding fiscal quarter, plus # the average Daily Balance of the Letter of Credit Usage during the immediately preceding fiscal quarter; provided that no unused line fee shall be due and payable if the average Daily Balance of Advances that were outstanding during the immediately preceding fiscal quarter was greater than 75% of the Maximum Revolver Amount. Notwithstanding the foregoing, no unused line fee shall accrue or be payable with respect to the unused Revolver Commitments of any Defaulting Lender for the period for which it is a Defaulting Lender.

Unused Line Fee. Borrower shall pay to Agent, for the ratable account of the Revolving Lenders, in arrears, on the first day of each month, from and after the Closing Date up to the first day of the month prior to the date on which the Obligations are paid in full and on the date on which the Obligations are paid in full, an unused line fee (the "Unused Line Fee") in an amount equal to the Applicable Unused Line Fee Margin times the result of # the aggregate amount of the Revolver Commitments, less # the average amount of the Revolver Usage during the immediately preceding month (or portion thereof).

Unused Fee. At all times during the Availability Period, including at any time during which one or more of the conditions in [Article IV] is not met, the Borrower shall pay to the Administrative Agent, for the account of each Revolving Credit Lender in accordance with its Applicable Revolving Credit Percentage, # prior to the Investment Grade Pricing Effective Date, an unused line fee (the “Unused Fee”) equal to the Applicable Fee Rate times the actual daily amount by which the Revolving Credit Facility exceeds the sum of # the Outstanding Amount of Revolving Credit Loans and # the Outstanding Amount of L/C Obligations, subject to adjustment as provided in [Section 2.17] and # at all times on and after the Investment Grade Pricing Effective Date, a facility fee (the “Facility Fee”) equal to the Ratings-Based Applicable Rate times the actual daily amount of the Revolving Credit Facility (or, if the Revolving Credit Facility has terminated, on the Total Revolving Credit Outstandings), regardless of usage, subject to adjustment as provided in [Section 2.17]. Accrued Unused Fees pursuant to [clause (i) above] and accrued Facility Fees pursuant to [clause (ii) above] shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Restatement Effective Date, and on the last day of the Availability Period. The Unused Fee and Facility Fee shall be calculated quarterly in arrears, and if there is any change in the IF " DOCVARIABLE "SWDocIDLocation" 1" = "1" " DOCPROPERTY "SWDocID" US 172801506" "" US 172791558

Unused Fee. Accruing from the Fourth Amendment Effective Date and continuing on the last business day of each quarter thereafter until the Expiration Date, the Borrower shall pay a non-refundable unused fee to the Bank, in arrears, at the rate of one tenth of one percent (0.10%) per annum on the average daily balance of the Line of Credit which is undisbursed and uncancelled during the preceding quarter; provided, that for purposes of the foregoing the face amount of all outstanding Letters of Credit shall be treated as amounts outstanding under the Line of Credit. The unused fee shall be computed on the basis of a year of 360 days and paid on the actual number of days elapsed.

Applicable Unused Line Fee Percentage” means, as of any date of determination, the applicable percentage set forth in the following table that corresponds to the Average Revolver Usage of Borrowers for the most recently completed fiscal quarter as determined by Agent in its Permitted Discretion; provided, that, (a) for the period from the Amendment No. 9 Effective Date through and including , the Applicable Unused Line Fee Percentage shall be set at the rate in the row styled “Level I” and (b) any time an Event of Default has occurred and is continuing, the Applicable Unused Line Fee Percentage shall be set at the margin in the row styled “Level II”:

Revolving Line Termination Fee. The Revolving Line Termination Fee, if and when due hereunder; and

Fees. Borrower agrees to pay to Bank in arrears at the end of each calendar quarter and on the Termination Date an annual fee (payable in quarterly installments) on the unused portion of the Revolving Line of Credit equal to 0.15 percent (as calculated on an annual basis from the date hereof), with the unused portion of the Revolving Line of Credit calculated as the difference between the Revolving Line of Credit and the average daily outstanding amount of the Advances.

""Applicable Margin" means, as of any date of determination, with respect to the interest rate of # any Reference Rate Loan or any portion thereof, 5.25%, # any LIBOR Rate Loan or any portion thereof, 6.25% and # the Unused Line Fee, 0.5%."

Upon the effectiveness of any such ESG Amendment, based on the Borrowers’ performance against the KPIs and/or ESG Ratings and associated SPTs, certain adjustments (an increase, a decrease, or no adjustment) to the unused line fee set forth in [Section 3.2(a)] of this Agreement and the Applicable Margin will be made; provided, that, # the amount of any such adjustments made pursuant to an ESG Amendment shall not exceed # in the case of the unused line fee set forth in [Section 3.2(a)] of this Agreement, an increase and/or decrease of 1.00 basis point and # in the case of the Applicable Margin, an increase and/or decrease of 5.00 basis points, # in no event shall the unused line fee set forth in [Section 3.2(a)] of this Agreement or the Applicable Margin be less than 0% and # for the avoidance of doubt, such pricing adjustments shall not be cumulative year-over-year and each applicable adjustment shall only apply until the date on which the next adjustment is due to take place.

With respect to any unused line fee or letter of credit fee not required to be paid to any Defaulting Lender pursuant to [clause [(A) or (B) above]e]], Borrowers shall # pay to each Non-Defaulting Lender that portion of any such fee otherwise payable to such Defaulting Lender with respect to such Defaulting Lender’s participation in Obligations in respect of Letter of Credit Accommodations or Swing Line Loans that has been reallocated to such Non-Defaulting Lender pursuant to [clause (iv)] below, # pay to each Issuing Bank and Swing Line Lender, as applicable, the amount of any such fee otherwise payable to such Defaulting Lender to the extent allocable to such Issuing Bank’s or Swing Line Lender’s Fronting Exposure to such Defaulting Lender, and # not be required to pay the remaining amount of any such fee.

Load more...
Select clause to view document information.

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.