Bank Guarantee Commission Sample Clauses

Bank Guarantee Commission. Each Borrower for whose account a Bank Guarantee is issued shall pay to the Facility Agent for the account of each Lender a commission at a rate equal to the Margin applicable to the Revolving Facility on that Lender's Contingent Liability from day to day in relation to that Bank Guarantee. That commission shall be payable quarterly in arrear from the date of this agreement for so long as that Lender has any such Contingent Liability and on the date on which it ceases to have any such Contingent Liability.
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Bank Guarantee Commission. The Borrower shall pay commission in respect of all Bank Guarantees calculated on the aggregate Undrawn Face Amount of all Bank Guarantees, at the rate determined by the Agent to be the applicable Margin. Commission determined as aforesaid shall be calculated on the aggregate daily Undrawn Face Amount of all Bank Guarantees during the period from the Utilisation Date for the first Bank Guarantee until the date the last Bank Guarantee expires or is fully drawn and shall be payable in arrears on each Quarterly Date and on the date the last Bank Guarantee expires or is fully drawn.
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Bank Guarantee Commission. The Borrowers shall pay to the Agent for the account of the Working Capital Bank commission in respect of all Bank Guarantees calculated on the aggregate of the Dollar Amount of the Undrawn Face Amount of all Bank Guarantees, at the rate determined by the Agent to be equivalent to the applicable Margin from day to day. Commission determined as aforesaid shall be calculated on the aggregate daily of the Dollar Amount of the Undrawn Face Amount of all Bank Guarantees during the period from the Utilisation Date for the first Bank Guarantee until the date the last Bank Guarantee expires or is fully drawn and shall be payable in arrears on each Quarter Date and on the date the last Bank Guarantee expires.
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Bank Guarantee Commission. (a) Each Borrower shall, in respect of each Bank Guarantee issued at its request, pay to the Agent (for the account of each Lender) (for distribution in proportion to each Lender’s Guarantee Proportion of that Bank Guarantee) a bank guarantee commission in the relevant Base Currency at the Guarantee Commission Rate on the maximum actual and contingent liabilities of the Fronting Bank under the relevant Bank Guarantee. (b) The accrued bank guarantee commission shall be paid on the last day of each successive period of three Months which ends during the Term of the relevant Bank Guarantee and on the relevant Expiry Date.
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Bank Guarantee Commission. (a) Each Borrower shall pay for each day with respect to each Bank Guarantee requested by it and issued and outstanding hereunder (including Existing Bank Guarantees) a Bank Guarantee commission calculated on the Base Currency Amount of all such Bank Guarantees at a rate equal to the Margin applicable to the relevant Facility under which the Bank Guarantee has been issued (the "Bank Guarantee Commission"). (b) The Bank Guarantee Agent shall calculate the Bank Guarantee Commission in relation to all Bank Guarantees in accordance with this Clause 15.1and its general rules and procedures for the calculation of guarantee commissions as reasonably applied, provided that no Bank Guarantee Commission (or, if a Bank Guarantee is only reduced by the relevant Bank Guarantee Reduction Entry, Bank Guarantee Commission only for the reduced amount) shall be calculated for any Bank Guarantee for any day following the Bank Guarantee Reduction Day of the relevant Bank Guarantee. (c) The Bank Guarantee Commission will be distributed by the Facility Agent to the Lenders according to each Lender's Bank Guarantee Proportion, adjusted to reflect any increase, decrease, assignment or transfer to or by that Lender. However, after the Final Maturity Date, provided the obligations of the Borrowers pursuant to Clause 10.2 (Repayment of Bank Guarantees) have been complied with, Bank Guarantee Commission will be payable solely for the account of the Issuing Bank. (d) Accrued Bank Guarantee Commission is payable to the Facility Agent in arrear at the times set out in Clause 15.5 (Times for the payment of fees).
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Bank Guarantee Commission. (a) The Original Borrower shall, in respect of each Bank Guarantee, pay to the Agent (for the account of each Lender) (for distribution in proportion to each Lender's Bank Guarantee Proportion of that Bank Guarantee) a Bank Guarantee commission in the Base Currency at the Bank Guarantee Commission Rate on the maximum actual and contingent liabilities of the Fronting Bank under the relevant Bank Guarantee. (b) The Bank Guarantee commission shall be paid in arrear in respect of each successive period of three Months (or such shorter period as shall end on the relevant Expiry Date) which begins during the Term of the relevant Bank Guarantee.
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Bank Guarantee Commission. (a) The Indemnifier for whose benefit each Bank Guarantee has been issued shall pay or cause to be paid to the Agent (for the account of each Bank) a Bank Guarantee Commission calculated at the Applicable Commission Rate on the amount of Bank Guarantee Outstandings with respect to each such Bank Guarantee in each case for the period during which such Bank Guarantee is outstanding. (b) The aggregate Bank Guarantee Commission will accrue from day to day on the basis of a 360 day year and the actual number of days elapsed and shall be paid quarterly in arrears. The first payment shall be due on 31 March 2004 and a final pro rata payment shall be due on the last day of the Facility Period. The Bank Guarantee Commission with respect to each Bank Guarantee shall be distributed according to each Bank's Proportionate Share with respect to such Bank Guarantee.
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Related to Bank Guarantee Commission

  • Bank Guarantee In addition to the Common Articles, it is specified that: In order to guaranty the proper execution of its contractual obligations pursuant to the Contract and/or Order(s), the Supplier shall issue in favor of the Purchaser a first demand and irrevocable performance bond from a first class bank or other financial institutes agreed by the Purchaser, to guaranty good performance by the Supplier of its obligations under the Contract. The Supplier shall issue the bond within thirty (30) days after issuance of the SPC or of the Order. Each performance bond shall amountto fifteen per cent (15%) of the total value of the concerned SPC and / or Order. Each performance bond shall expire when the relevant services have been fully performed in compliance with the Contract.

  • Performance Bank Guarantee 4.2.1 The Performance Bank Guarantee furnished by Power Producer to GUVNL shall be for guaranteeing the commissioining / commercial operation of the project up to the Contracted Capacity within SCOD. 4.2.2 If the Power Producer fails to commission the project on or before Scheduled Commercial Operation Date, GUVNL shall have the right to encash the Performance Bank Guarantee without prejudice to the other rights of the Power Producer under this Agreement as per Article 3.3. 4.2.3 GUVNL shall release the Performance Bank Guarantee upon successful commissioning of full contracted capacity after adjusting Liquidated Damages (if any) as per Article 3.3.

  • Money Back Guarantee If we provide a money back guarantee ("MBG") for your Service, it will begin on your Service Ready Date. During this MBG period you may cancel your Service and receive a full refund of all monthly, one-time and equipment charges paid to Verizon (provided you return all Equipment in good working condition). If you fail to return the Equipment, an unreturned Equipment fee will apply. ETFs will not apply to Service terminated within the MBG period. The MBG does not apply to customers who change between or renew bundle, monthly, term or other pricing plans. The MBG is limited to one per Subscriber per Service type per Service address.

  • Letter of Credit Commissions Subject to Section 5.15(a)(iii)(B), the Borrower shall pay to the Administrative Agent, for the account of the applicable Issuing Lender and the L/C Participants, a letter of credit commission with respect to each Letter of Credit in the amount equal to the daily amount available to be drawn under such Letter of Credit times the Applicable Margin with respect to Revolving Credit Loans that are LIBOR Rate Loans (determined on a per annum basis). Such commission shall be payable quarterly in arrears on the last Business Day of each calendar quarter, on the Revolving Credit Maturity Date and thereafter on demand of the Administrative Agent. The Administrative Agent shall, promptly following its receipt thereof, distribute to the applicable Issuing Lender and the L/C Participants all commissions received pursuant to this Section 3.3(a) in accordance with their respective Revolving Credit Commitment Percentages.

  • CREDIT INSURANCE Credit insurance is not required for any extension of credit under this Agreement. However, You may purchase any credit insurance available through Us and have the premiums added to Your outstanding balance. If You elect to do so, You will be given the necessary disclosures and documents separately.

  • Letter of Credit Procedures 30 2.4.1 Issuance of Letters of Credit................................30 2.4.2 Participations in Letters of Credit..........................31 2.4.3 Reimbursement Obligations....................................31 2.4.4 Limitation on the Issuer's Obligations.......................32 2.4.5 Funding by Banks to the Issuer...............................32 2.5 Pro Rata Treatment..................................................33 2.6 Warranty............................................................33 2.7 Conditions..........................................................33 2.8 Commitments Several.................................................34 2.9 Payments by the Banks to the Agent..................................34

  • Agreement to Repay Letter of Credit Drawings (a) The Borrower agrees to reimburse each Issuing Lender, by making payment to the Administrative Agent in immediately available funds at the Payment Office, for any payment or disbursement made by such Issuing Lender under any Letter of Credit issued by it (each such amount, so paid until reimbursed by the Borrower, an “Unpaid Drawing”), not later than one Business Day following receipt by the Borrower of notice of such payment or disbursement (provided that no such notice shall be required to be given if a Default or an Event of Default under Section 11.05 shall have occurred and be continuing, in which case the Unpaid Drawing shall be due and payable immediately without presentment, demand, protest or notice of any kind (all of which are hereby waived by the Borrower)), with interest on the amount so paid or disbursed by such Issuing Lender, to the extent not reimbursed prior to 12:00 Noon (New York time) on the date of such payment or disbursement, from and including the date paid or disbursed to but excluding the date such Issuing Lender was reimbursed by the Borrower therefor at a rate per annum equal to the Base Rate as in effect from time to time plus the Applicable Margin as in effect from time to time for Revolving Loans that are maintained as Base Rate Loans; provided, however, to the extent such amounts are not reimbursed prior to 12:00 Noon (New York time) on the third Business Day following the receipt by the Borrower of notice of such payment or disbursement or following the occurrence of a Default or an Event of Default under Section 11.05, interest shall thereafter accrue on the amounts so paid or disbursed by such Issuing Lender (and until reimbursed by the Borrower) at a rate per annum equal to the Base Rate as in effect from time to time plus the Applicable Margin for Revolving Loans that are maintained as Base Rate Loans as in effect from time to time plus 2%, with such interest to be payable on demand. Each Issuing Lender shall give the Borrower prompt written notice of each Drawing under any Letter of Credit issued by it, provided that the failure to give any such notice shall in no way affect, impair or diminish the Borrower’s obligations hereunder. (b) The obligations of the Borrower under this Section 3.05 to reimburse each Issuing Lender with respect to drafts, demands and other presentations for payment under Letters of Credit issued by it (each, a “Drawing”) (including, in each case, interest thereon) shall be absolute and unconditional under any and all circumstances and irrespective of any setoff, counterclaim or defense to payment which the Borrower or any Subsidiary of the Borrower may have or have had against any Lender (including in its capacity as an Issuing Lender or as a Participant), including, without limitation, any defense based upon the failure of any drawing under a Letter of Credit to conform to the terms of the Letter of Credit or any nonapplication or misapplication by the beneficiary of the proceeds of such Drawing; provided, however, that the Borrower shall not be obligated to reimburse any Issuing Lender for any wrongful payment made by such Issuing Lender under a Letter of Credit issued by it as a result of acts or omissions constituting willful misconduct or gross negligence on the part of such Issuing Lender (as determined by a court of competent jurisdiction in a final and non-appealable decision).

  • Letter of Credit The Borrower further agrees with the Issuing Lender, the Administrative Agent and the Lenders that the Issuing Lender, the Administrative Agent and the Lenders shall not be responsible for, and the Borrower's Reimbursement Obligations under Section 4.2 shall not be affected by, among other things, the validity or genuineness of documents or of any endorsements thereon even if such documents should in fact prove to be in any or all respects invalid, fraudulent or forged, or any dispute between or among the Borrower, the beneficiary of any Letter of Credit or any financing institution or other party to which any Letter of Credit may be transferred or any claims or defenses whatsoever of the Borrower against the beneficiary of any Letter of Credit or any such transferee, PROVIDED that the Borrower shall not be responsible for, and the Borrower's Reimbursement Obligations shall not include, amounts or liabilities arising solely from the gross negligence or willful misconduct of the Issuing Lender in determining whether a request presented under any Letter of Credit complied with the terms of such Letter of Credit. The Issuing Lender, the Administrative Agent and the Lenders shall not be liable for any error, omission, interruption or delay in transmission, dispatch or delivery of any message or advice, however transmitted, in connection with any Letter of Credit. The Borrower agrees that any action taken or omitted by the Issuing Lender, the Administrative Agent or any Lender under or in connection with each Letter of Credit and the related drafts and documents, if done in good faith, shall be binding upon the Borrower and shall not result in any liability on the part of the Issuing Lender, the Administrative Agent or any Lender to the Borrower.

  • Credit for Reinsurance Retrocessionaire shall take all actions reasonably necessary, if any, to permit Retrocedant to obtain full financial statement credit in all applicable U.S. jurisdictions for all liabilities assumed by the Retrocessionaire pursuant to this Agreement, including but not limited to loss and loss adjustment expense reserves, unearned premium reserves, reserves for incurred but not reported losses, allocated loss adjustment expenses and ceding commissions, and to provide the security required for such purpose, in a form reasonably acceptable to Retrocedant. Any reserves required by the foregoing in no event shall be less than the amounts required under the law of the jurisdiction having regulatory authority with respect to the establishment of reserves relating to the relevant Reinsurance Contracts. For purposes of this Article XIX, such "actions reasonably necessary" may include, without limitation, the furnishing of a letter of credit or the establishment of a custodial or trust account, as permitted under applicable law, to secure the payment of the amounts due the Retrocedant under this Agreement.

  • Performance Bond Unless otherwise prohibited by law, the Department may require the Contractor to furnish, without additional cost to the Department, a performance bond or irrevocable letter of credit or other form of security for the satisfactory performance of work hereunder. The Department shall determine the type and amount of security.

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