Common use of Bank Guarantee Commission Clause in Contracts

Bank Guarantee Commission. Each Borrower for whose account a Bank Guarantee is issued shall pay to the Facility Agent a commission at a rate equal to the Margin applicable to the Revolving Facility from time to time on that Lender's Contingent Liability from day to day in relation to that Bank Guarantee. The 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.

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 from time to time on that Lender's Contingent Liability from day to day in relation to that Bank Guarantee. The 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.