Common use of Facing Fees Clause in Contracts

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. 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 date of each Marchissuance (or any increase in the amount, June, September and December and on the Maturity Dateor renewal or extension) thereof, computed at a 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 that which may be made at the election of the beneficiary thereof).

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.