Facing Fees. The Borrower agrees to pay directly to each Letter of Credit Issuer a fee in respect of each Letter of Credit issued by it (a "FACING FEE"), computed for each day at the rate of 1/8 of 1% per annum on the Stated Amount of such Letter of Credit issued by such Letter of Credit Issuer which is outstanding on such day. Accrued Facing Fees shall be due and payable quarterly in arrears on April 1, July 1, October 1 and January 1 and on the date on which the Total Revolving Commitment expires or is terminated and no Letters of Credit remain outstanding.
Facing Fees. The Borrower agrees to pay directly to each Letter of Credit Issuer, for its own account, a fee in respect of each Letter of Credit issued by it (a “Facing Fee”), payable quarterly in arrears on the last Business Day of each March, June, September and December and on the Maturity Date, computed at a rate of 1/8 of 1% per annum on the Stated Amount thereof for the period from the date of issuance (or increase, renewal or extension) to the expiration date thereof (including any extensions of such expiration date that may be made at the election of the beneficiary thereof.
Facing Fees. On the first day of each Quarter, commencing July 1, 1996 and continuing thereafter until the Facility Amount and Unfunded LC Exposure have both been reduced to zero, and on the Termination Date, the Borrower shall pay to the Agent for the account of the LC Bank a facing fee computed by applying 0.125% per annum to the Unfunded LC Exposure from day to day in the prior Quarter or partial Quarter, as the case may be.
Facing Fees. On each Quarterly USI Interest Payment Date, USI shall pay a facing fee equal to a per annum rate of 0.25% (the "Restated Facing Fee"), to each USI Issuing Bank in respect of outstanding Letters of Credit under the USI Credit Agreement, and to each Independent L/C Issuer in respect of its outstanding Independent L/Cs, and (ii) on each Quarterly Rexair Interest Payment Date, Rexair shall pay the Restated Facing Fee to the Rexair Issuing Bank in respect of outstanding Letters of Credit under the Rexair Credit Agreement; in each case, payable in arrears based on the average daily undrawn face amount of such Letters of Credit.
Facing Fees. The Borrower shall pay to each Issuer for its own account fees at the rate of 0.05% per annum on the average daily undrawn amount of the Letters of Credit issued by it for any period during which any Letters of Credit are outstanding, such fees to be payable in arrears on the 15th day of each August, November, February and May to and including, and on, the Termination Date. The Borrower shall also pay to each Issuer such issuing, processing and transaction fees and charges as such Issuer may from time to time customarily impose in connection with the issuance, negotiation and payment of letters of credit and drafts drawn thereunder.
Facing Fees. The Company agrees to pay directly to each Letter of Credit Issuer, for its own account, a fee in respect of each Letter of Credit issued by it (a "Facing Fee"), payable on the date of issuance (or any increase in the amount, or renewal or extension) thereof, computed at the rate of 1/8 of 1% per annum on the Stated Amount thereof for the period from the date of issuance (or increase, renewal or extension) to the expiration date thereof (including any extensions of such expiration date which may be made at the election of the beneficiary thereof).
Facing Fees. The Borrower agrees to pay directly to the Issuing Bank a fee in respect of each Letter of Credit issued by it (a “Facing Fee”), computed for each day at the rate of 1/8 of 1% per annum on the Stated Amount of such Letter of Credit issued by the Issuing Bank which is outstanding on such day. The Facing Fee shall be paid on the date of issuance of each Letter of Credit and annually on each anniversary thereafter.
Facing Fees. Borrower shall pay to STB facing fees in the amount of one-eighth of one percent (0.125%) of the face amount of each Letter of Credit issued by STB. Each facing fee shall be paid prior to or at issuance of the Letter of Credit.
Facing Fees. Borrower shall also pay to LC Bank, solely for its ----------- account, on the last day of each calendar quarter ending on or after the Closing Date, and on the Expiration Date for the final Letter of Credit outstanding, a facing fee for the Letters of Credit (the "Facing Fee") in ---------- an amount equal to the product of (i) 0.125%, times (ii) the daily average Aggregate Stated Amount for such quarter (or portion thereof), times (iii) a fraction, the numerator of which is the number of days in such quarter (or portion thereof) and the denominator of which is 360.
Facing Fees. The Company agrees to pay directly to each Letter of Credit Issuer a fee in respect of each Letter of Credit issued by it (a "Facing Fee"), computed for each day at the rate of 1/8 of 1% per annum on the Stated Amount of such Letter of Credit issued by such Letter of Credit Issuer which is outstanding on such day. Accrued Facing Fees shall be due and payable quarterly in arrears on April 1, July 1, October 1 and January 1 and on the date on which the Total Revolving Commitment expires or is terminated and no Letters of Credit remain outstanding.
