Common use of Fees, Commissions and Other Charges Clause in Contracts

Fees, Commissions and Other Charges. (a) The Parent Borrower shall pay to the relevant Issuing Lender with respect to each Letter of Credit a fronting fee equal to 1/8 of 1% per annum calculated on the basis of a 360-day year (but in no event less than $500 per annum for each Letter of Credit issued on its behalf) of the aggregate amount available to be drawn under such Letter of Credit, payable quarterly in arrears on each L/C Fee Payment Date with respect to such Letter of Credit and on the Termination Date or such other date as the Letter of Credit Commitments shall terminate. Such fees shall be nonrefundable. Such fees shall be payable in Dollars, notwithstanding that a Letter of Credit may be denominated in the Designated Foreign Currency. In respect of a Letter of Credit denominated in the Designated Foreign Currency, such fees shall be converted into Dollars at the Spot Rate of Exchange. (b) In addition to the foregoing fees, the Parent Borrower agrees to pay amounts necessary to reimburse the applicable Issuing Lender for such normal and customary costs and expenses as are incurred or charged by such Issuing Lender in issuing, effecting payment under, amending or otherwise administering any Letter of Credit issued by an Issuing Lender.

Appears in 2 contracts

Samples: Credit Agreement (Hertz Global Holdings Inc), Credit Agreement (Hertz Global Holdings Inc)

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Fees, Commissions and Other Charges. (a) The Parent Each Borrower shall pay to the relevant Issuing Lender with respect to each Letter of Credit a fronting fee equal to 1/8 of 10.15% per annum calculated on the basis of a 360-day year (but in no event less than $500 per annum for each Letter of Credit issued on its behalf) of the aggregate amount available to be drawn under such Letter of Credit, payable quarterly in arrears on each L/C Fee Payment Date with respect to such Letter of Credit and on the Termination Tranche B-1 Revolving Maturity Date or such other date as the Letter of Credit Revolving Commitments shall terminate. Such fees shall be nonrefundable. Such fees shall be payable in Dollars, notwithstanding that a Letter of Credit may be denominated in the any Designated Foreign Currency. In respect of a Letter of Credit denominated in the any Designated Foreign Currency, such fees shall be converted into Dollars at the Spot Rate of Exchange. (b) In addition to the foregoing fees, the Parent each Borrower agrees to pay amounts necessary to reimburse the applicable Issuing Lender for such normal and customary costs and expenses as are incurred or charged by such Issuing Lender in issuing, effecting payment under, amending or otherwise administering any Letter of Credit issued by an Issuing Lender.

Appears in 2 contracts

Samples: Credit Agreement (Hertz Global Holdings, Inc), Credit Agreement

Fees, Commissions and Other Charges. (a) The Parent Borrower shall pay to the relevant Agent, for the account of the Issuing Lender Bank and the L/C Participants, a letter of credit commission with respect to each Letter of Credit a fronting fee equal Credit, computed for the period from the date of such payment to 1/8 the date upon which the next such payment is due hereunder at the rate of 13.00% per annum annum, calculated on the basis of a 360-360 day year (but in no event less than $500 per annum for each Letter of Credit issued on its behalf) year, of the aggregate amount available to be drawn under such Letter of CreditCredit on the date on which such fee is calculated. 0.25% of such fee shall be payable to the Issuing Bank, and the remaining 2.75% of such fee shall be payable quarterly to the L/C Participants to be shared ratably among them in arrears accordance with their respective Commitment Percentages. Such commissions shall be payable in advance on the date of issuance of each Letter of Credit and on each L/C Fee Payment Date with respect to such Letter of Credit occur thereafter and on the Termination Date or such other date as the Letter of Credit Commitments shall terminate. Such fees shall be nonrefundable. Such fees shall be payable in Dollars, notwithstanding that a Letter of Credit may be denominated in the Designated Foreign Currency. In respect of a Letter of Credit denominated in the Designated Foreign Currency, such fees shall be converted into Dollars at the Spot Rate of Exchange. (b) In addition to the foregoing feesfees and commissions, the Parent Borrower agrees to shall pay amounts necessary to or reimburse the applicable Issuing Lender Bank for such normal and customary costs and expenses as are incurred or charged by such the Issuing Lender Bank in issuing, effecting payment under, amending or otherwise administering any Letter of Credit issued Credit. (c) The Agent shall, promptly following its receipt thereof, distribute to the Issuing Bank and the L/C Participants all fees and commissions received by an Issuing Lenderthe Agent for their respective accounts pursuant to this subsection.

Appears in 1 contract

Samples: Credit Agreement (Diversified Food Group Inc)

Fees, Commissions and Other Charges. (a) The Parent Borrower Applicant shall pay to the relevant Issuing Lender with respect to each Letter of Credit a fronting fee equal to 1/8 of 10.15% per annum calculated on the basis of a 360-day year (but in no event less than $500 per annum for each Letter of Credit issued on its behalf) of the aggregate amount available to be drawn under such Letter of Credit, payable quarterly in arrears on each L/C Fee Payment Date with respect to such Letter of Credit and on the Termination Maturity Date or such other date as the Letter of Credit Commitments shall terminate. Such fees shall be nonrefundable. Such fees shall be payable in Dollars, notwithstanding that a Letter of Credit may be denominated in the any Designated Foreign Currency. In respect of a Letter of Credit denominated in the any Designated Foreign Currency, such fees shall be converted into Dollars at the Spot Rate of Exchange. (b) In addition to the foregoing fees, the Parent Borrower Applicant agrees to pay amounts necessary to reimburse the applicable Issuing Lender for such normal and customary costs and expenses as are incurred or charged by such Issuing Lender in issuing, effecting payment under, amending or otherwise administering any Letter of Credit issued by an Issuing Lender.

Appears in 1 contract

Samples: Letter of Credit Agreement (Hertz Corp)

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Fees, Commissions and Other Charges. (a) The Parent Borrower shall pay to the relevant Issuing Lender with respect to each Letter of Credit a fronting fee equal to 1/8 1/4 of 1% per annum calculated on the basis of a 360-day year (but in no event less than $500 per annum for each Letter of Credit issued on its behalf) of the aggregate amount available to be drawn under such Letter of Credit, payable quarterly in arrears on each L/C Fee Payment Date with respect to such Letter of Credit and on the Termination Date or such other date as the Letter of Credit Commitments shall terminate. Such commissions and fees shall be nonrefundable. Such fees and commissions shall be payable in Dollars, notwithstanding that a Letter of Credit may be denominated in the Designated Foreign Currency. In respect of a Letter of Credit denominated in the Designated Foreign Currency, such fees and commissions shall be converted into Dollars at the Spot Rate of Exchange. (b) In addition to the foregoing commissions and fees, the Parent Borrower agrees to pay amounts necessary to reimburse the applicable Issuing Lender for such normal and customary costs and expenses as are incurred or charged by such Issuing Lender in issuing, effecting payment under, amending or otherwise administering any Letter of Credit issued by an Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (Hertz Corp)

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