Unused Line Fee

The Unused Line Fee is a fee available for lines of credit where the organization charges a fee equal to the unused portion of the line multiplied by the “Unused Line Fee Percent.”

For as long as the credit facility evidenced by this Note remains in existence, the Borrower shall pay to [lender] a fee (Unused Line Fee) in the form of additional interest on that portion of the face amount (i.e, the maximum principal amount) of this Note that on each day is not outstanding (Unused Portion), which interest shall accrue daily by multiplying the Unused Portion on each day by a per diem rate equal to [percent amount] divided by [number of days in the accrual period]. The Unused Line Fee shall be due and payable [payment period] in arrears.