Nautilus 2009 Annual Report Download - page 299

Section 3.10 Available Interest Rates on the Revolving Credit Facility . Borrower hereby acknowledges and agrees that interest shall
accrue (and shall be paid by Borrower as more particularly specified below) on Revolving Loans extended to Borrower under the Revolving
Credit Facility at the LIBOR Rate plus the Applicable Margin, the Base Rate plus the Applicable Margin, or the Applicable Floating Rate plus
the Applicable Margin (as selected by Borrower pursuant to Section 4.5 of this Agreement).
Section 3.11 Revolving Loan Interest Payments . Borrower shall pay Lender interest that accrues on Revolving Loans at the times
specified in Section 4.2 of this Agreement.
Section 3.12 The Unused Commitment Fee
. On the first Business Day of April, 2010, and the first Business Day of each third month
thereafter, and on the Revolving Credit Facility Maturity Date, Borrower shall pay Lender a fee (the “Unused Commitment Fee”) equal to the
Unused Commitment Amount for the immediately preceding three-
month period (or portion thereof) multiplied by the Unused Commitment Fee
Margin (which fee shall be prorated to take into account the fact that this fee is paid quarterly by Borrower). As used in this Agreement, the term
“Unused Commitment Amount” means the average of the difference on each day in the immediately preceding three-month period (or, in the
case of the fee payable on the Revolving Credit Facility Maturity Date, on each day after the end of the prior three-month period for which the
Unused Commitment Fee was due hereunder through the Revolving Credit Facility Maturity Date) between (a) $15,000,000 and (b) the
aggregate principal amount of Revolving Loans and Letters of Credit outstanding.
Section 3.13 Revolving Nature of the Revolving Credit Facility . The Revolving Credit Facility is a revolving credit facility.
Therefore, subject to the terms and conditions of this Agreement, Borrower may pay, repay, and re-borrow amounts under that credit facility.
Section 3.14 Maturity Date of the Revolving Credit Facility . On the earlier of (a) August 31, 2012, or (b) acceleration of the
Obligations following an Event of Default, if any, under this Agreement, Lender’s commitment to extend credit (including Letters of Credit) to
Borrower pursuant to the Revolving Credit Facility shall terminate. The earlier of the dates specified in the preceding sentence of this Agreement
is referred to in this Agreement as the “Revolving Credit Facility Maturity Date.” On the Revolving Credit Facility Maturity Date, Borrower
shall be obligated to pay Lender the entire balance of principal, accrued interest and Unused Commitment Fee owed pursuant to the Note, this
Agreement, and the other Loan Documents (including Letter of Credit Documents) (together with any fees and costs owed thereunder or
hereunder).
Section 3.15 No Borrowing During Pendency of an Event of Default . Borrower shall not be entitled to borrow (or obtain a Letter of
Credit) under the Revolving Credit Facility at any time that a Default or an Event of Default exists.
Section 3.16 Cash Collateral After the Revolving Credit Facility Maturity Date . If any Non-Cash Secured Letter of Credit remains
outstanding on or after the Revolving Credit
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