Example ContractsClausesUnused Line Fee
Unused Line Fee
Unused Line Fee contract clause examples

The Unused Line Margin shall be subject to increase or decrease based upon the Line Usage for the prior month, as determined by Agent. If by the first day of a month, any Borrowing Base Certificate due in the preceding month has not been received, then, at the option of Agent or Required Lenders, the Unused Line Margin shall be determined as if Level II were applicable, from such day until the first day of the calendar month following actual receipt.”

Applicable Unused Commitment Fee Rate” means, for any day, a percentage per annum equal to 0.20% per annum.

Fee Letter” means the fee letter, dated as of the Closing Date, among the Borrower, the Administrative Agent and the initial Committed Lenders, setting forth, among other things, the Margin, the Step-Up Margin and the Unused Commitment Fee Rate.

The initial Applicable LIBOR Rate Margin, Applicable Prime Rate Margin, Letter of Credit Applicable Margin, and Unused Line Fee shall be based on Tier V until such time as the “Total Funded Debt to EBITDA” ratio is next retested and the Compliance Certificate delivered pursuant to the provisions of the Original Loan and Security Agreement, at which point the provisions of the Original Loan and Security Agreement, as amended hereby, will control.

The definition of “Unused Line Margin” in Section 1.1 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:

The Credit Agreement is hereby amended by adding a new [Section 1.3(e)] (Unused Fee) in appropriate numerical order therein as follows:

The Borrower hereby agrees to pay to each Agent, for the account of the related Lenders, monthly in arrears, the Unused Commitment Fee from the Collection Account in accordance with [Section 2.08]. Payments of the Unused Commitment Fee shall be allocated and paid to Owners based upon their respective Invested Percentages of the Loans Outstanding for the applicable Interest Period. The Borrower hereby agrees to pay to each Agent, for the account of the related Committed Lenders, on or prior to the Closing Date, the Upfront Fee.

With respect to any Facility Fee or any Letter of Credit Fee not required to be paid to any Defaulting Lender pursuant to [Section 2.17(a)(iii)(A) or (a)(iii)(B)])], [[Released U.K. Borrowers:Organization]] 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 L/C Obligations, in Domestic Swing Line Loans, or in Canadian Swing Line Loans, or in U.K. Swing Line Loans that has been reallocated to such Non-Defaulting Lender pursuant to [Section 2.17(a)(iv), (2)])] pay to each L/C Issuer, each Domestic Swing Line Lender, and the Canadian Swing Line Lender, and the U.K. Swing Line Lender, as applicable, the amount of any such fee otherwise payable to such Defaulting Lender to the extent allocable to such L/C Issuer’s, such Domestic Swing Line Lender’s, or the Canadian Swing Line Lender’s or the U.K. Swing Line Lender’s Fronting Exposure to such Defaulting Lender, and # not be required to pay the remaining amount of any such fee.

the Commitment Fee shall cease to accrue on the unused portion of the Commitments of such Defaulting Lender pursuant to [Section 2.11(a)];

"Applicable Margin" means with respect to any Type of Loan or the Unused Fee, the percentages per annum set forth below, for the periods set forth below:

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