Fees, Commissions and Other Charges. (a) The Borrowers shall pay to the Administrative Agent, for the account of (i) the Issuing Lender and the Participating Lenders, a letter of credit commission with respect to each Letter of Credit, computed for the period from the date such Letter of Credit is issued to the date upon which the next payment is due under this Section 3.3(a) (and, thereafter, from the date of payment under this Section 3.3(a) to the date upon which the next payment is due under this Section 3.3(a)) at the rate per annum equal to the Applicable Margin in effect from time to time for Eurodollar Loans of the daily aggregate amount available to be drawn under such Letter of Credit during such period, and (ii) the Issuing Lender, a letter of credit commission with respect to each Letter of Credit in an amount equal to .20% per annum of the daily aggregate amount available to be drawn under such Letter of Credit. The letter of credit commissions payable pursuant to clause (i) and (ii) above shall be payable quarterly in arrears on the last day of each March, June, September and December, commencing June 30, 2011, and on the Termination Date. (b) In addition to the foregoing fees and commissions, the Borrowers shall pay to the Issuing Lender (i) a fee of $750 for issuing each Letter of Credit, and (ii) a fee of $250 for amending any Letter of Credit. (c) The Administrative Agent shall, promptly following its receipt thereof, distribute to the Issuing Lender and the Participating Lenders all fees and commissions received by the Administrative Agent for their respective accounts pursuant to this Section 3.3.
Appears in 2 contracts
Samples: Credit Agreement (EP Energy Corp), Credit Agreement (El Paso Corp/De)
Fees, Commissions and Other Charges. (a) The Borrowers shall pay to the Administrative Agent, for the account of (i) the Issuing Lender and the Participating Lenders, a letter of credit commission with respect to each Letter of Credit, computed for the period from the date such Letter of Credit is issued to the date upon which the next payment is due under this Section 3.3(a) subsection (and, thereafter, from the date of payment under this Section 3.3(a) subsection to the date upon which the next payment is due under this Section 3.3(a)subsection) at the rate per annum equal to the Applicable Margin in effect from time to time for Eurodollar Loans of the daily aggregate amount available to be drawn under such Letter of Credit during such period, and (ii) the Issuing Lender, a letter of credit commission with respect to each Letter of Credit in an amount equal to .20.125% per annum of the daily aggregate amount available to be drawn under such Letter of Credit. The letter of credit commissions payable pursuant to clause (i) and (ii) above shall be payable quarterly in arrears on the last day of each March, June, September and December, commencing June September 30, 20112005, and on the Termination Date.
(ba) In addition to the foregoing fees and commissions, the Borrowers shall pay to the Issuing Lender (i) a fee of $750 for issuing each Letter of Credit, and (ii) a fee of $250 for amending any Letter of Credit.
(cb) The Administrative Agent shall, promptly following its receipt thereof, distribute to the Issuing Lender and the Participating Lenders all fees and commissions received by the Administrative Agent for their respective accounts pursuant to this Section 3.3subsection.
Appears in 2 contracts
Samples: Credit Agreement (El Paso Production Holding Co), Credit Agreement (El Paso Production Holding Co)
Fees, Commissions and Other Charges. (a) The Borrowers Company shall pay to ----------------------------------- the Administrative AgentAgent a letter of credit facility fee (the "L/C Fee"), for upon issuance of a Letter of Credit, in an amount equal to the account product of (i) the Issuing Lender and the Participating Lenders, a letter face amount of credit commission with respect to each such Letter of Credit, computed for times (ii) the period from applicable Letter of Credit Rate, times (iii) the term of such Letter of Credit, expressed as a fraction equal to the number of days of such term divided by 360. In the event any Letter of Credit is terminated or the available credit thereunder is permanently reduced prior to the stated expiry date thereof, the Company shall be entitled to a rebate of that portion of the L/C Fee paid with respect to such Letter of Credit which is issued allocable pro rata to the date upon which the next payment is due under this Section 3.3(a) (and, thereafter, from the date of payment under this Section 3.3(a) to the date upon which the next payment is due under this Section 3.3(a)) at the rate per annum equal to the Applicable Margin in effect from time to time for Eurodollar Loans portion of the daily aggregate amount available to be drawn under such Letter of Credit during such periodthat has been terminated or reduced, and (ii) as the case may be, as determined by the Issuing Lender, a letter of credit commission with respect to each Letter of Credit in an amount equal to .20% per annum of the daily aggregate amount available to be drawn Bank. Each L/C Fee payable under such Letter of Credit. The letter of credit commissions payable pursuant to clause (i) and (ii) above this subsection 3.3 shall be payable quarterly shared ratably among the Banks in arrears on the last day of each March, June, September and December, commencing June 30, 2011, and on the Termination Dateaccordance with their respective L/C Commitment Percentages.
(b) In addition to the foregoing fees and commissionsL/C Fees, the Borrowers Company shall pay to or reimburse the Issuing Lender (i) a fee of $750 Bank for issuing each Letter of Creditsuch normal and customary costs and expenses as are incurred or charged by the Issuing Bank in issuing, and (ii) a fee of $250 for processing, effecting payment under, amending or otherwise administering any Letter of Credit.
(c) The Administrative Agent shall, promptly following its receipt thereof, distribute to the Issuing Lender Bank and the Participating Lenders L/C Participants all fees and commissions received by the Administrative Agent for their respective accounts pursuant to this Section 3.3subsection.
Appears in 1 contract
Samples: Credit Agreement (Dairy Mart Convenience Stores Inc)
Fees, Commissions and Other Charges. (a) The Borrowers HCC shall pay to the Administrative Agent, for the account of (i) the Issuing Lender and the Participating LendersL/C Participants, a letter of credit commission with respect to each Letter of Credit, computed for the period from the date such Letter of Credit is issued to the date upon which the next such payment is due under this Section 3.3(a) (and, thereafter, from the date of payment under this Section 3.3(a) to the date upon which the next payment is due under this Section 3.3(a)) hereunder at the rate per annum equal to the Applicable Margin in effect from time to time for Eurodollar Loans Loans, calculated on the basis of a 365 (or 366-, as the case may be) day year, of the daily aggregate amount available to be drawn under such Letter of Credit during for the period covered by such periodpayment. In addition, and (ii) HCC shall pay to the Issuing Lender, Issuer a letter of credit commission with respect to each Letter of Credit fronting fee in an the amount equal to .20.125% per annum of the daily aggregate face amount available to be drawn under of such Letter of Credit. The letter of credit Such commissions payable pursuant to clause (i) and (ii) above shall be payable quarterly in arrears on the last day of each March, June, September L/C Fee Payment Date (and December, commencing June 30, 2011, and on the Termination Date) and shall be nonrefundable.
(b) In addition to the foregoing fees and commissions, the Borrowers HCC shall pay to or reimburse the Issuing Lender (i) a fee of $750 for issuing each Letter of Creditsuch reasonable, normal and (ii) a fee of $250 for customary costs and expenses as are actually incurred or charged by the Issuing Lender in issuing, effecting payment under, amending or otherwise administering any Letter of Credit.
(c) The Administrative Agent shall, promptly following its receipt thereof, distribute to the Issuing Lender and the Participating Lenders L/C Participants all fees and commissions received by the Administrative Agent for their respective accounts pursuant to this Section 3.3subsection.
Appears in 1 contract
Fees, Commissions and Other Charges. (a) The Borrowers Borrower shall pay to the Administrative Agent, for the account of (i) the Issuing Lender and the Participating Lenders, a letter of credit commission with respect to each Letter of Credit, computed for the period from the date such Letter of Credit is issued to the date upon which the next payment is due under this Section 3.3(a) subsection (and, thereafter, from the date of payment under this Section 3.3(a) subsection to the date upon which the next payment is due under this Section 3.3(a)subsection) at the rate per annum equal to the Applicable Margin in effect from time to time for Eurodollar Loans of the daily aggregate amount available to be drawn under such Letter of Credit during such period, and (ii) the Issuing Lender, a letter of credit commission with respect to each Letter of Credit in an amount equal to .20.125% per annum of the daily aggregate amount available to be drawn under such Letter of Credit. The letter of credit commissions payable pursuant to clause (i) and (ii) above shall be payable quarterly in arrears on the last day of each March, June, September and December, commencing June 30December 31, 20111997, and on the Termination Date.
(b) In addition to the foregoing fees and commissions, the Borrowers Borrower shall pay to or reimburse the Issuing Lender (i) a fee of $750 for issuing each Letter of Creditsuch normal and customary costs and expenses as are incurred or charged by the Issuing Lender in issuing, and (ii) a fee of $250 for amending effecting payment under, amending, negotiating or otherwise administering any Letter of Credit.. 27 22
(c) The Administrative Agent shall, promptly following its receipt thereof, distribute to the Issuing Lender and the Participating Lenders all fees and commissions received by the Administrative Agent for their respective accounts pursuant to this Section 3.3subsection.
Appears in 1 contract