Documentary Credit Fee Sample Clauses
The Documentary Credit Fee clause defines the charges associated with the issuance or use of a documentary credit, such as a letter of credit, in a commercial transaction. This fee is typically paid by the applicant (buyer) to the issuing bank and may be calculated as a percentage of the credit amount or as a flat fee, depending on the agreement. By specifying the cost and payment terms for the documentary credit, this clause ensures transparency in financial obligations and helps prevent disputes over banking charges during the transaction.
Documentary Credit Fee. Each Borrower shall, in respect of each Documentary Credit issued on its behalf pay (or procure the payment of) to the Facility Agent for the account of each L/C Lender (for distribution in proportion to each L/C Lender’s L/C Proportion of such Documentary Credit) a documentary credit fee in the currency in which the relevant Documentary Credit is denominated at a rate equal to the applicable Margin applied on the Outstanding L/C Amount in relation to such Documentary Credit (less any amount which has been repaid or prepaid). Such documentary credit fee shall be paid in arrears on each Quarter Date during the Term of the relevant Documentary Credit and on the relevant Expiry Date (or the date of its repayment, prepayment or cancellation, if earlier) for that Documentary Credit.
Documentary Credit Fee. The Borrower shall, in respect of each Documentary Credit, pay to the Agent for the account of each Indemnifying Lender (for distribution in proportion to each Indemnifying Lender’s L/C Proportion of such Documentary Credit) a documentary credit fee (a) at any time prior to the occurrence of a Sharing Event, in the currency in which the relevant Documentary Credit is denominated and (b) at any time on or after the occurrence of a Sharing Event, in euros, at a rate 0.25 per cent. per annum applied on the Outstanding L/C Amount in relation to such Documentary Credit. Such documentary credit fee shall be paid in arrear on the last Business Day of each March, June, September and December which begins during the Term of the relevant Documentary Credit and on the relevant Expiry Date. Accrued Documentary Credit fees shall also be payable on the cancelled amount of any Revolving Facility Commitment at the time such cancellation is effective, if the Revolving Facility Commitment is cancelled in full and a Documentary Credit is repaid in full.
Documentary Credit Fee. Each Borrower shall, in respect of each Documentary Credit issued on its behalf pay to the Facility Agent for the account of each Indemnifying Lender (for distribution in proportion to each Indemnifying Lender’s L/C Proportion of such Documentary Credit) a documentary credit fee in the currency in which the relevant Documentary Credit is denominated at a rate equal to the applicable Revolving Facility Margin or Secondary Revolving Facility Margin applied on the Outstanding L/C Amount in relation to such Documentary Credit. Such documentary credit fee shall be paid in arrears on each Quarter Date during the Term of the relevant Documentary Credit and on the relevant Expiry Date. Accrued Documentary Credit fees shall also be payable on the cancelled amount of any Revolving Facility Commitment or Secondary Revolving Facility Commitment attributable to a Documentary Credit which is repaid in full at the time such cancellation is effective, if the Revolving Facility Commitment or Secondary Revolving Facility Commitment is cancelled in full and a Documentary Credit is repaid in full.
Documentary Credit Fee. (a) The Company must pay (or procure that such payment is made) to the Facility Agent for the Lenders a documentary credit fee equal to the Margin for the Tranche B Facility on the outstanding amount of each Documentary Credit from the date it is issued, calculated on a daily basis.
(b) Accrued documentary credit fee is payable quarterly in arrear and on the date on which any Documentary Credit expires or is prepaid or repaid.
Documentary Credit Fee. Each Borrower shall pay to a Documentary Credit Bank for its own account a fronting fee in the amount set out in and in the manner agreed in a Fee Letter between that Documentary Credit Bank and the Borrowers.