Unused Line Fee

Unused Line Fee. Borrowers shall pay to Agent, for the account of Lenders, monthly an unused line fee at a rate equal to the rate set forth below (on a per annum basis) calculated upon the amount by which the Maximum Credit exceeds the average daily principal balance of the outstanding Loans and Letters of Credit during the immediately preceding month (or part thereof) while the Loan Agreement is in effect and for so long thereafter as any Obligations are outstanding. Quarterly Average Excess Availability ... Unused Line Fee Tier 1 Greater than $30,000,000 0.75% Tier 2 Less than or equal to $30,000,000 and greater than $15,000,000 0.50% Tier 3 Less than or equal to $15,000,000 0.25% View More