Common use of Compensation for Facility Letters of Credit Clause in Contracts

Compensation for Facility Letters of Credit. (a) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving Lenders, based upon such Lenders’ respective Percentages, a per annum fee (the “Facility Letter of Credit Fee”) with respect to each Facility Letter of Credit that is equal to (i) the LIBOR Applicable Margin in effect from time to time in the case of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of Credit. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall be due and payable in arrears in equal installments on the first Business Day of each month following the issuance of any Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity Date. The Administrative Agent shall promptly remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Percentages thereof. The Borrower shall not have any liability to any Lender for the failure of the Administrative Agent to promptly deliver funds to any such Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 hereof.

Appears in 5 contracts

Samples: Revolving Credit Agreement (First Industrial Lp), Assignment and Assumption Agreement (First Industrial Lp), Unsecured Revolving Credit Agreement (First Industrial Realty Trust Inc)

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Compensation for Facility Letters of Credit. (a) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving LendersLenders (including the Issuing Bank), based upon such the Lenders’ respective Percentages, a per annum fee (the “Facility Letter of Credit Fee”) with respect to as a percentage of the face amount of each Facility Letter of Credit that is outstanding equal to (i) the LIBOR Applicable Margin in effect from time to time in the case hereunder while such Facility Letter of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of CreditCredit is outstanding. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall accrue on a daily basis and shall be due and payable in arrears in equal installments on the first Business Day of each month calendar quarter following the issuance of any such Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity DateFacility Termination Date or any other earlier date that the Obligations are due and payable in full. The Administrative Agent shall promptly (on the same day as received by the Administrative Agent if received prior to noon (Cleveland time) on such day and otherwise on the next Business Day) remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Percentages thereof. The Borrower shall not have any liability to any Lender for the failure of the Administrative Agent to promptly deliver funds to any such Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 hereof.

Appears in 5 contracts

Samples: Credit Agreement (Inland Real Estate Corp), Credit Agreement (Inland Real Estate Corp), Credit Agreement (Inland Western Retail Real Estate Trust Inc)

Compensation for Facility Letters of Credit. (a) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving LendersLenders (including the Issuing Bank), based upon such Lenders’ respective Revolving Percentages, a per annum fee (the “Facility Letter of Credit Fee”) with respect to as a percentage of the face amount of each Facility Letter of Credit that is outstanding equal to (i) the LIBOR Applicable Margin for Revolving Advances in effect from time to time in the case hereunder while such Facility Letter of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of CreditCredit is outstanding. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall accrue on a daily basis and shall be due and payable in arrears in equal installments on the first Business Day of each month calendar quarter following the issuance of any such Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity DateRevolving Facility Termination Date or any other earlier date that the Obligations are due and payable in full. The Administrative Agent shall promptly (on the same day as received by the Administrative Agent if received prior to noon (Cleveland, Ohio time) on such day and otherwise on the next Business Day) remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Revolving Percentages thereof. The Borrower shall not have any liability to any Revolving Lender for the failure of the Administrative Agent to promptly deliver such funds to any such Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 hereof.

Appears in 4 contracts

Samples: Credit Agreement (Kite Realty Group, L.P.), Credit Agreement (Retail Properties of America, Inc.), Assignment Agreement (Retail Properties of America, Inc.)

Compensation for Facility Letters of Credit. (a) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving Lenders, based upon such the Lenders' respective Percentages, a per annum fee (the "Facility Letter of Credit Fee") with respect to each Facility Letter of Credit that is equal to (i) the LIBOR Applicable Margin in effect from time to time in the case of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of Credit. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall be due and payable in arrears in equal installments on the first Business Day of each month following the issuance of any Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity Date. The Administrative Agent shall promptly remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Percentages thereof. The Borrower shall not have any liability to any Lender for the failure of the Administrative Agent to promptly deliver funds to any such Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 2.11 hereof.

Appears in 4 contracts

Samples: Assignment Agreement (First Industrial Realty Trust Inc), Revolving Credit Agreement (First Industrial Realty Trust Inc), Revolving Credit Agreement (First Industrial Realty Trust Inc)

Compensation for Facility Letters of Credit. (a) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving LendersLenders (including the Issuing Bank), based upon such the Lenders’ respective Percentages, a per annum fee (the “Facility Letter of Credit Fee”) with respect to as a percentage of the face amount of each Facility Letter of Credit that is outstanding equal to (i) the LIBOR Applicable Margin in effect from time to time in the case hereunder while such Facility Letter of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of CreditCredit is outstanding. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall accrue on a daily basis and shall be due and payable in arrears in equal installments on the first Business Day of each month calendar quarter following the issuance of any such Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity DateFacility Termination Date or any other earlier date that the Obligations are due and payable in full. The Administrative Agent shall promptly (on the same day as received by the Administrative Agent if received prior to noon (Cleveland time) on such day and otherwise on the next Business Day) remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Percentages thereof. The Borrower shall not have any liability to any Lender for the failure of the Administrative Agent to promptly deliver funds to any such Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 2.15 hereof.

Appears in 4 contracts

Samples: Credit Agreement (Inland Real Estate Corp), Credit Agreement (Inland Diversified Real Estate Trust, Inc.), Credit Agreement (Inland Real Estate Corp)

Compensation for Facility Letters of Credit. (a) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving Lenders, based upon such the Lenders’ respective Percentages, a per annum fee (the “Facility Letter of Credit Fee”) with respect to each Facility Letter of Credit that is equal to (i) the LIBOR Applicable Margin in effect from time to time in the case of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of Credit. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall be due and payable in arrears in equal installments on the first Business Day of each month following the issuance of any Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity Date. The Administrative Agent shall promptly remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Percentages thereof. The Borrower shall not have any liability to any Lender for the failure of the Administrative Agent to promptly deliver funds to any such Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 2.11 hereof.

Appears in 3 contracts

Samples: Credit Agreement (First Industrial Realty Trust Inc), Term Loan Agreement (First Industrial Realty Trust Inc), Unsecured Term Loan Agreement (First Industrial Realty Trust Inc)

Compensation for Facility Letters of Credit. (a) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving LendersLenders (including the Issuing Bank), based upon such the Lenders' respective Percentages, a per annum fee (the "Facility Letter of Credit Fee") with respect to as a percentage of the face amount of each Facility Letter of Credit that is equal to (i) the LIBOR Applicable Margin in effect from time to time in the case while such Facility Letter of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of CreditCredit is outstanding. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall be due and payable in arrears in equal installments on the first Business Day of each month following the issuance of any such Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity DateDate or any other earlier date that the Obligations are due and payable in full. The Administrative Agent shall promptly remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Percentages thereof. The Borrower shall not have any liability to any Lender for the failure of the Administrative Agent to promptly deliver funds to any such Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 2.12 hereof.

Appears in 3 contracts

Samples: Secured Revolving Credit Agreement (Equity Inns Inc), Credit Agreement (Equity Inns Inc), Secured Revolving Credit Agreement (Equity Inns Inc)

Compensation for Facility Letters of Credit. (a) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving LendersLenders (including the Issuing Bank), based upon such the Lenders’ respective Percentages, a per annum fee (the “Facility Letter of Credit Fee”) with respect to as a percentage of the face amount of each Facility Letter of Credit that is outstanding equal to (i) the LIBOR Applicable Margin in effect from time to time in the case while such Facility Letter of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of CreditCredit is outstanding. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall accrue on a daily basis and shall be due and payable in arrears in equal installments on the first Business Day of each month calendar quarter following the issuance of any such Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity DateFacility Termination Date or any other earlier date that the Advances and Facility Letter of Credit Obligations are due and payable in full. The Administrative Agent shall promptly remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Percentages thereof. The Borrower shall not have any liability to any Lender for the failure of the Administrative Agent to promptly deliver funds to any such Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 hereof.

Appears in 3 contracts

Samples: Credit Agreement (InvenTrust Properties Corp.), Credit Agreement (Inland Real Estate Income Trust, Inc.), Credit Agreement (Inland American Real Estate Trust, Inc.)

Compensation for Facility Letters of Credit. (a) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving LendersLenders (including the Issuing Bank), based upon such the Lenders’ respective Percentages, a per annum fee (the “Facility Letter of Credit Fee”) with respect to as a percentage of the face amount of each Facility Letter of Credit that is outstanding equal to (i) the LIBOR Applicable Margin in effect from time to time in the case while such Facility Letter of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of CreditCredit is outstanding. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall accrue on a daily basis and shall be due and payable in arrears in equal installments on the first Business Day of each month calendar quarter following the issuance of any such Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity DateFacility Termination Date or any other earlier date that the Obligations are due and payable in full. The Administrative Agent shall promptly remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Percentages thereof. The Borrower shall not have any liability to any Lender for the failure of the Administrative Agent to promptly deliver funds to any such Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 hereof.

Appears in 3 contracts

Samples: Credit Agreement (Glimcher Realty Trust), Credit Agreement (Glimcher Realty Trust), Credit Agreement (Glimcher Realty Trust)

Compensation for Facility Letters of Credit. (a) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving LendersLenders (including the Issuing Bank), based upon such the Lenders' respective Percentages, a per annum fee (the "Facility Letter of Credit Fee") with respect to as a percentage of the face amount of each Facility Letter of Credit that is outstanding equal to (i) the LIBOR Applicable Margin in effect from time to time in the case while such Facility Letter of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of CreditCredit is outstanding. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall accrue on a daily basis and shall be due and payable in arrears in equal installments on the first Business Day of each month calendar quarter following the issuance of any such Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity DateFacility Termination Date or any other earlier date that the Obligations are due and payable in full. The Administrative Agent shall promptly remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Percentages thereof. The Borrower shall not have any liability to any Lender for the failure of the Administrative Agent to promptly deliver funds to any such Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 2.12 hereof.

Appears in 3 contracts

Samples: Credit Agreement (Glimcher Realty Trust), Credit Agreement (Glimcher Realty Trust), Credit Agreement (Glimcher Realty Trust)

Compensation for Facility Letters of Credit. (a) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving LendersLenders (including the Issuing Bank), based upon such the Lenders' respective Percentages, a per annum fee (the "Facility Letter of Credit Fee") with respect to as a percentage of the face amount of each Facility Letter of Credit that is equal to (i) the LIBOR Applicable Margin in effect from time to time in the case while such Facility Letter of Financial Letters Credit is outstanding minus one-eighth of Credit, and one percent (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of Credit0.125%). The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall be due and payable in arrears in equal installments on the first Business Day of each month following the issuance of any such Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity DateDate or any other earlier date that the Obligations are due and payable in full. The Administrative Agent shall promptly remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Percentages thereof. The Borrower shall not have any liability to any Lender for the failure of the Administrative Agent to promptly deliver funds to any such Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 2.12 hereof.

Appears in 2 contracts

Samples: Assignment Agreement (Equity Inns Inc), Assignment Agreement (Equity Inns Inc)

Compensation for Facility Letters of Credit. (ai) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving LendersLenders (including the Issuing Bank), based upon such the Lenders’ respective Percentages, a per annum fee (the “Facility Letter of Credit Fee”) with respect to as a percentage of the face amount of each Facility Letter of Credit that is outstanding equal to (i) the LIBOR Applicable Margin in effect from time to time in the case hereunder while such Facility Letter of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of CreditCredit is outstanding. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall accrue on a daily basis and shall be due and payable in arrears in equal installments advance on the Issuance Date of such Facility Letter of Credit and on the first Business Day of each month calendar quarter following the issuance of any such Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity DateCredit. The Administrative Agent shall promptly (on the same day as received by the Administrative Agent if received prior to noon (Cleveland time) on such day and otherwise on the next Business Day) remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Percentages thereof. The Borrower shall not have any liability to any Lender for the failure of the Administrative Agent to promptly deliver funds to any such Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 hereof.

Appears in 2 contracts

Samples: Senior Revolving Credit Agreement (Terreno Realty Corp), Senior Revolving Credit Agreement (Terreno Realty Corp)

Compensation for Facility Letters of Credit. (a) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving LendersLenders (including the Issuing Bank), based upon such the Revolving Lenders’ respective Revolving Percentages, a per annum fee (the “Facility Letter of Credit Fee”) with respect to as a percentage of the face amount of each Facility Letter of Credit that is outstanding equal to (i) the LIBOR Applicable Margin in effect from time to time in the case hereunder while such Facility Letter of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of CreditCredit is outstanding. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall accrue on a daily basis and shall be due and payable in arrears in equal installments advance on the Issuance Date of such Facility Letter of Credit and on the first Business Day of each month calendar quarter following the issuance of any such Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity DateCredit. The Administrative Agent shall promptly (on the same day as received by the Administrative Agent if received prior to noon (Cleveland time) on such day and otherwise on the next Business Day) remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Revolving Percentages thereof. The Borrower shall not have any liability to any Revolving Lender for the failure of the Administrative Agent to promptly deliver funds to any such Revolving Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 hereof.

Appears in 2 contracts

Samples: Senior Credit Agreement (Terreno Realty Corp), Senior Credit Agreement (Terreno Realty Corp)

Compensation for Facility Letters of Credit. (i) (a) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving LendersLenders (including the Issuing Lender), based upon such the Lenders’ respective PercentagesRatable Shares, a per annum fee (the “Facility Letter of Credit Fee”) with respect to as a percentage of the face amount of each Facility Letter of Credit that is outstanding equal to (i) the LIBOR Applicable Margin in effect from time to time in the case while such Facility Letter of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of CreditCredit is outstanding. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall accrue on a daily basis and shall be due and payable in arrears in equal installments on the first Business Day of each month calendar quarter following the issuance of any such Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity DateFacility Termination Date or any other earlier date that the Obligations are due and payable in full. The Administrative Agent shall promptly remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Percentages Ratable Shares thereof. The Borrower shall not have any liability to any Lender for the failure of the Administrative Agent to promptly deliver funds to any such Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 2.14 hereof.

Appears in 2 contracts

Samples: Credit Agreement (Associated Estates Realty Corp), Credit Agreement (Associated Estates Realty Corp)

Compensation for Facility Letters of Credit. (ac) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving LendersLenders (including the Issuing Bank), based upon such the Lenders’ respective Percentages, a per annum fee (the “Facility Letter of Credit Fee”) with respect to as a percentage of the face amount of each Facility Letter of Credit that is outstanding equal to (i) the LIBOR Applicable Margin in effect from time to time in the case hereunder while such Facility Letter of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of CreditCredit is outstanding. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall accrue on a daily basis and shall be due and payable in arrears in equal installments on the first Business Day of each month calendar quarter following the issuance of any such Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity DateFacility Termination Date or any other earlier date that the Obligations are due and payable in full. The Administrative Agent shall promptly (on the same day as received by the Administrative Agent if received prior to noon (Cleveland time) on such day and otherwise on the next Business Day) remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Percentages thereof. The Borrower shall not have any liability to any Lender for the failure of the Administrative Agent to promptly deliver funds to any such Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 hereof.

Appears in 2 contracts

Samples: Credit Agreement (Retail Properties of America, Inc.), Credit Agreement (Inland Western Retail Real Estate Trust Inc)

Compensation for Facility Letters of Credit. (ai) The Borrower Borrowers shall pay to the Administrative Agent, for the ratable account of the Revolving LendersLenders (including the Issuing Bank), based upon such the Lenders’ respective Percentages, a per annum fee (the “Facility Letter of Credit Fee”) with respect to as a percentage of the face amount of each Facility Letter of Credit that is outstanding equal to (i) the LIBOR Applicable Margin in effect from time to time in the case while such Facility Letter of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of CreditCredit is outstanding. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall accrue on a daily basis and shall be due and payable in arrears in equal installments on the first Business Day of each month calendar quarter following the issuance of any such Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity DateFacility Termination Date or any other earlier date that the Obligations are due and payable in full. The Administrative Agent shall promptly (on the same day as received by the Administrative Agent if received prior to noon (Cleveland time) on such day and otherwise on the next Business Day) remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Percentages thereof. The Borrower Borrowers shall not have any liability to any Lender for the failure of the Administrative Agent to promptly deliver funds to any such Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower Borrowers to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 hereof.

Appears in 1 contract

Samples: Credit Agreement (Inland Retail Real Estate Trust Inc)

Compensation for Facility Letters of Credit. (a) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving LendersLenders (including the Issuing Bank), based upon such the Lenders’ respective Percentages, a per annum fee (the “Facility Letter of Credit Fee”) with respect to as a percentage of the face amount of each Facility Letter of Credit that is outstanding equal to (i) the LIBOR Applicable Margin in effect from time to time in the case while such Facility Letter of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of CreditCredit is outstanding. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall accrue on a daily basis and shall be due and payable in arrears in equal installments on the first Business Day of each month calendar quarter following the issuance of any such Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity DateFacility Termination Date or any other earlier date that the Advances and Facility Letter of Credit Obligations are due and payable in full. The Administrative Agent shall promptly remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Percentages thereof. The Borrower shall not have any liability to any Lender for the failure of the Administrative Agent to promptly deliver funds to any such Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 hereof.

Appears in 1 contract

Samples: Credit Agreement (InvenTrust Properties Corp.)

Compensation for Facility Letters of Credit. (a) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving LendersLenders (including the Issuing Bank), based upon such the Revolving Lenders’ respective Revolving Percentages, a per annum fee (the “Facility Letter of Credit Fee”) with respect to as a percentage of the face amount of each Facility Letter of Credit that is outstanding equal to (i) the LIBOR Applicable Margin in effect from time to time in the case while such Facility Letter of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of CreditCredit is outstanding. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall accrue on a daily basis and shall be due and payable in arrears in equal installments on the first Business Day of each month calendar quarter following the issuance of any such Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity DateRevolving Termination Date or any other earlier date that the Revolving Advances and Facility Letter of Credit Obligations are due and payable in full. The Administrative Agent shall promptly remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Revolving Percentages thereof. The Borrower shall not have any liability to any Revolving Lender for the failure of the Administrative Agent to promptly deliver funds to any such Revolving Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 hereof.

Appears in 1 contract

Samples: Credit Agreement (Inland American Real Estate Trust, Inc.)

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Compensation for Facility Letters of Credit. (ai) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving LendersLenders (including the Issuing Bank), based upon such the Revolving Lenders’ respective Revolving Percentages, a per annum fee (the “Facility Letter of Credit Fee”) with respect to as a percentage of the face amount of each Facility Letter of Credit that is outstanding equal to (i) the LIBOR Applicable Margin in effect from time to time in the case hereunder while such Facility Letter of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of CreditCredit is outstanding. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall accrue on a daily basis and shall be due and payable in arrears in equal installments advance on the Issuance Date of such Facility Letter of Credit and on the first Business Day of each month calendar quarter following the issuance of any such Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity DateCredit. The Administrative Agent shall promptly (on the same day as received by the Administrative Agent if received prior to noon (Cleveland time) on such day and otherwise on the next Business Day) remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Revolving Percentages thereof. The Borrower shall not have any liability to any Revolving Lender for the failure of the Administrative Agent to promptly deliver funds to any such Revolving Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 hereof.

Appears in 1 contract

Samples: Senior Credit Agreement (Terreno Realty Corp)

Compensation for Facility Letters of Credit. (a) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving LendersCredit Lenders (including the Issuing Bank), based upon such Lenders’ respective Revolving Credit Percentages, a per annum fee (the “Facility Letter of Credit Fee”) with respect to as a percentage of the face amount of each Facility Letter of Credit that is outstanding equal to (i) the LIBOR SOFR Applicable Margin for Revolving Loans in effect from time to time in the case while such Facility Letter of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of CreditCredit is outstanding. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall accrue on a daily basis and shall be due and payable in arrears in equal installments on the first Business Day of each month calendar quarter following the issuance of any such Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity DateRevolving Credit Termination Date or any other earlier date that the Advances and Facility Letter of Credit Obligations are due and payable in full. The Administrative Agent shall promptly remit such Facility Letter of Credit Fees, when paid, to the other Revolving Credit Lenders in accordance with their Revolving Credit Percentages thereof. The Borrower shall not have any liability to any Lender for the failure of the Administrative Agent to promptly deliver funds to any such Revolving Credit Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 hereof.

Appears in 1 contract

Samples: Credit Agreement (Inland Real Estate Income Trust, Inc.)

Compensation for Facility Letters of Credit. (a) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving LendersLenders (including the Issuing Bank), based upon such Lenders’ respective Revolving Percentages, a per annum fee (the “Facility Letter of Credit Fee”) with respect to as a percentage of the face amount of each Facility Letter of Credit that is outstanding equal to (i) the LIBOR Applicable Margin for Revolving Advances that are SOFR Advances in effect from time to time in the case hereunder while such Facility Letter of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of CreditCredit is outstanding. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall accrue on a daily basis and shall be due and payable in arrears in equal installments on the first Business Day of each month calendar quarter following the issuance of any such Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity DateRevolving Facility Termination Date or any other earlier date that the Obligations are due and payable in full. The Administrative Agent shall promptly (on the same day as received by the Administrative Agent if received prior to noon (Cleveland, Ohio time) on such day and otherwise on the next Business Day) remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Revolving Percentages thereof. The Borrower shall not have any liability to any Revolving Lender for the failure of the Administrative Agent to promptly deliver such funds to any such Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 hereof.

Appears in 1 contract

Samples: Credit Agreement (Kite Realty Group, L.P.)

Compensation for Facility Letters of Credit. (a) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving LendersLenders (including the Issuing Bank), based upon such the Revolving Lenders’ respective Revolving Percentages, a non-refundable per annum fee (the “Facility Letter of Credit Fee”) with respect to as a percentage of the face amount of each Facility Letter of Credit that is outstanding equal to (i) the LIBOR LIBORSOFR Applicable Margin in effect from time to time in the case hereunder while such Facility Letter of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of CreditCredit is outstanding. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall accrue on a daily basis and shall be due and payable in arrears in equal installments advance on the Issuance Date of such Facility Letter of Credit and on the first Business Day of each month calendar quarter following the issuance of any such Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity DateCredit. The Administrative Agent shall promptly (on the same day as received by the Administrative Agent if received prior to noon (Cleveland time) on such day and otherwise on the next Business Day) remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Revolving Percentages thereof. The Borrower shall not have any liability to any Revolving Lender for the failure of the Administrative Agent to promptly deliver funds to any such Revolving Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 hereof.

Appears in 1 contract

Samples: Senior Credit Agreement (Terreno Realty Corp)

Compensation for Facility Letters of Credit. (a) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving LendersLenders (including any Issuing Bank with respect to such Facility Letter of Credit), based upon such the Lenders’ respective Percentages, a per annum fee (the “Facility Letter of Credit Fee”) with respect to each Facility Letter of Credit that is equal to (i) the LIBOR Applicable Margin in effect from time to time in times the case amount of Financial such Facility Letters of Credit, and (ii) the LIBOR Applicable Margin Credit from time to time minus 0.25% in the case of Performance Letters of Credittime. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall be due and payable in arrears in equal installments on the first Business Day of each month calendar quarter following the issuance of any Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity Date. The Administrative Agent shall promptly remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Percentages thereof. The Borrower shall not have any liability to any Lender for the failure of the Administrative Agent to promptly deliver funds to any such Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 2.12 hereof.

Appears in 1 contract

Samples: Assignment Agreement (Rouse Company)

Compensation for Facility Letters of Credit. (a) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving LendersLenders (including the Issuing Bank), based upon such the Revolving Lenders’ respective Revolving Percentages, a non-refundable per annum fee (the “Facility Letter of Credit Fee”) with respect to as a percentage of the face amount of each Facility Letter of Credit that is outstanding equal to (i) the LIBOR SOFR Applicable Margin in effect from time to time in the case hereunder while such Facility Letter of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of CreditCredit is outstanding. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall accrue on a daily basis and shall be due and payable in arrears in equal installments advance on the Issuance Date of such Facility Letter of Credit and on the first Business Day of each month calendar quarter following the issuance of any such Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity DateCredit. The Administrative Agent shall promptly (on the same day as received by the Administrative Agent if received prior to noon (Cleveland time) on such day and otherwise on the next Business Day) remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Revolving Percentages thereof. The Borrower shall not have any liability to any Revolving Lender for the failure of the Administrative Agent to promptly deliver funds to any such Revolving Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 hereof.

Appears in 1 contract

Samples: Senior Credit Agreement (Terreno Realty Corp)

Compensation for Facility Letters of Credit. (a) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving LendersCredit Lenders (including the Issuing Bank), based upon such Lenders’ respective Revolving Credit Percentages, a per annum fee (the “Facility Letter of Credit Fee”) with respect to as a percentage of the face amount of each Facility Letter of Credit that is outstanding equal to (i) the LIBOR Applicable Margin in effect from time to time in the case while such Facility Letter of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of CreditCredit is outstanding. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall accrue on a daily basis and shall be due and payable in arrears in equal installments on the first Business Day of each month calendar quarter following the issuance of any such Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity DateRevolving Credit Termination Date or any other earlier date that the Advances and Facility Letter of Credit Obligations are due and payable in full. The Administrative Agent shall promptly remit such Facility Letter of Credit Fees, when paid, to the other Revolving Credit Lenders in accordance with their Revolving Credit Percentages thereof. The Borrower shall not have any liability to any Lender for the failure of the Administrative Agent to promptly deliver funds to any such Revolving Credit Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 hereof.

Appears in 1 contract

Samples: Credit Agreement (Inland Real Estate Income Trust, Inc.)

Compensation for Facility Letters of Credit. (a) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving LendersLenders (including the Issuing Bank), based upon such the Lenders’ respective Percentages, a per annum fee (the “Facility Letter of Credit Fee”) with respect to as a percentage of the face amount of each Facility Letter of Credit that is equal to (i) the LIBOR Applicable Margin in effect from time to time in the case while such Facility Letter of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of CreditCredit is outstanding. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall be due and payable in arrears in equal installments on the first Business Day of each month following the issuance of any such Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity DateDate or any other earlier date that the Obligations are due and payable in full. The Administrative Agent shall promptly remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Percentages thereof. The Borrower shall not have any liability to any Lender for the failure of the Administrative Agent to promptly deliver funds to any such Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 2.12 hereof.

Appears in 1 contract

Samples: Unsecured Revolving Credit Agreement (Equity Inns Inc)

Compensation for Facility Letters of Credit. (a) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving LendersCredit Lenders (including the Issuing Bank), based upon such Lenders’ respective Revolving Credit Percentages, a per annum fee (the “Facility Letter of Credit Fee”) with respect to as a percentage of the face amount of each Facility Letter of Credit that is outstanding equal to (i) the LIBOR Applicable Margin in effect from time to time in the case while such Facility Letter of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of CreditCredit is outstanding. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall accrue on a daily basis and shall be due and payable in arrears in equal installments on the first Business Day of each month calendar quarter following the issuance of any such Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity DateRevolving Credit Termination Date or any other earlier date that the Advances and Facility Letter of Credit Obligations are due and payable in full. The Administrative Agent shall promptly remit such Facility Letter of Credit US_Active\115440519\V-15 Fees, when paid, to the other Revolving Credit Lenders in accordance with their Revolving Credit Percentages thereof. The Borrower shall not have any liability to any Lender for the failure of the Administrative Agent to promptly deliver funds to any such Revolving Credit Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 hereof.

Appears in 1 contract

Samples: Credit Agreement (Inland Real Estate Income Trust, Inc.)

Compensation for Facility Letters of Credit. (a) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving LendersLenders (including the Issuing Bank), based upon such the Revolving Lenders’ respective Revolving Percentages, a non-refundable per annum fee (the “Facility Letter of Credit Fee”) with respect to as a percentage of the face amount of each Facility Letter of Credit that is outstanding equal to (i) the LIBOR Applicable Margin in effect from time to time in the case hereunder while such Facility Letter of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of CreditCredit is outstanding. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall accrue on a daily basis and shall be due and payable in arrears in equal installments advance on the Issuance Date of such Facility Letter of Credit and on the first Business Day of each month calendar quarter following the issuance of any such Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity DateCredit. The Administrative Agent shall promptly (on the same day as received by the Administrative Agent if received prior to noon (Cleveland time) on such day and otherwise on the next Business Day) remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Revolving Percentages thereof. The Borrower shall not have any liability to any Revolving Lender for the failure of the Administrative Agent to promptly deliver funds to any such Revolving Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 hereof.

Appears in 1 contract

Samples: Senior Credit Agreement (Terreno Realty Corp)

Compensation for Facility Letters of Credit. (a) The Borrower shall pay to the Administrative Agent, for the ratable account of the Revolving LendersLenders (including the Issuing Bank), based upon such the Lenders’ respective Percentages, a per annum fee (the “Facility Letter of Credit Fee”) with respect to as a percentage of the face amount of each Facility Letter of Credit that is outstanding equal to (i) the LIBOR Applicable Margin in effect from time to time in the case while such Facility Letter of Financial Letters of Credit, and (ii) the LIBOR Applicable Margin from time to time minus 0.25% in the case of Performance Letters of CreditCredit is outstanding. The Facility Letter of Credit Fee relating to any Facility Letter of Credit shall accrue on a daily basis and shall be due and payable in arrears in equal installments on the first Business Day of each month calendar quarter following the issuance of any such Facility Letter of Credit and, to the extent any such fees are then due and unpaid, on the Maturity DateFacility Termination Date or any other earlier date that the Obligations are due and payable in full. The Administrative Agent shall promptly remit such Facility Letter of Credit Fees, when paid, to the other Revolving Lenders in accordance with their Percentages thereof. The Borrower shall not have any liability to any Lender for the failure of the Administrative Agent to promptly deliver funds to any such Lender and shall be deemed to have made all such payments on the date the respective payment is made by the Borrower to the Administrative Agent, provided such payment is received by the time specified in Section 2.13 hereof.. 13171960\V-5

Appears in 1 contract

Samples: Credit Agreement (Glimcher Realty Trust)

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