FEES FOR L/C'S Sample Clauses
The "Fees For L/C's" clause defines the responsibility for paying fees and charges associated with letters of credit (L/Cs) used in a transaction. Typically, this clause specifies which party—such as the buyer or seller—will bear the costs for opening, amending, or confirming a letter of credit, and may outline the types of fees covered, such as bank charges or administrative expenses. By clearly allocating these financial obligations, the clause helps prevent disputes and ensures that both parties understand their respective cost responsibilities related to the use of letters of credit in the contract.
FEES FOR L/C'S. (a) The Borrowers shall pay to the Administrative Agent the following per annum fees on account of L/C’s, the issuance of which had been procured by the Administrative Agent monthly in arrears, and on the Termination Date and on the End Date based on the weighted average Stated Amount of L/C’s outstanding during the period in respect of which such fee is being paid except that, following the occurrence and during the continuance of any Event of Default (and whether or not the Administrative Agent exercises the Administrative Agent’s rights on account thereof), such fees, at the option of the Administrative Agent or the direction of the SuperMajority Revolving Credit Lenders, shall be the respective aggregate of those set forth below plus three percent (3%) per annum.
(i) Documentaries: The Libor Margin then in effect minus 50 basis points.
(ii) Standbys: The Libor Margin then in effect.
(b) In addition to the fee to be paid as provided in Subsection 2.21(a) above, the Borrowers shall pay to the Administrative Agent (or to the Issuer, if so requested by Administrative Agent), on demand, all customary issuance, processing, negotiation, amendment, and administrative fees and other amounts charged by the Issuer on account of, or in respect to, any L/C.
(c) If any change in Applicable Law shall either:
(i) impose, modify or deem applicable any reserve, special deposit or similar requirements against letters of credit heretofore or hereafter issued by any Issuer or with respect to which any Revolving Credit Lender or any Issuer has an obligation to lend to fund drawings under any L/C; or
(ii) impose on any Issuer any other condition or requirements relating to any such letters of credit; and the result of any event referred to in Section 2.21(c)(i) or 2.21(c)(ii), above, shall be to increase the cost to any Revolving Credit Lender or to any Issuer of issuing or maintaining any L/C (which increase in cost shall be the result of such Issuer’s reasonable allocation among that Revolving Credit Lender’s or Issuer’s letter of credit customers of the aggregate of such cost increases resulting from such events), then, upon demand by the Administrative Agent and delivery by the Administrative Agent to the Borrowers’ Representative of a certificate of an officer of the subject Revolving Credit Lender or the subject Issuer describing such change in law, executive order, regulation, directive, or interpretation thereof, its effect on such Revolving Credit Lender or such Iss...
FEES FOR L/C'S. (a) The Borrower shall pay to the Agent a fee, on account of L/C's, the issuance of which had been procured by the Agent, monthly in arrears, and on the Termination Date and on the End Date, equal to 2 % per annum of the weighted average Stated Amount of all L/C's outstanding during the period in respect of which such fee is being paid.
(b) In addition to the fee to be paid as provided in Subsection 2-16(a), above, the Borrower shall pay to the Agent (or to the Issuer, if so requested by Agent), on demand, all issuance, processing, negotiation, amendment, and administrative fees and other amounts charged by the Issuer on account of, or in respect to, any L/C.
FEES FOR L/C'S. (a) The Borrower shall pay to the Lender a fee, on account of L/C’s, the issuance of which had been procured by the Lender, monthly in arrears, and on the Termination Date and on the End Date, equal to the following per annum percentages of the average face amount of the following categories of Letters of Credit outstanding during the three month period then ended:
(i) Standby Letters of Credit: At a per annum rate equal to the then Applicable Margin for Eurodollar Loans;
FEES FOR L/C'S. (a) In connection with each L/C provided by the Agent, the Borrower shall pay Agent an administrative issuance fee (“L/C Issuance Fee”) equal to the product of three-eighths of one percent (0.375%) times the Stated Amount of such L/C. Such fee shall be due and payable in full on the date when such L/C is issued.
(b) In addition to the L/C Issuance Fee, the Borrower shall pay to the Agent a fee, for the benefit of the Lenders, on account of each L/C procured by the Agent, quarterly in arrears, and on the Termination Date and on the End Date, equal to the following:
(i) For each standby L/C: The then applicable LIBOR Margin per annum, of the Stated Amount of such standby L/C, payable quarterly in arrears, on the first day of each month.
(ii) For each documentary L/C: The then applicable LIBOR Margin minus one half of one percent (0.50%) per annum of the weighted average of the Stated Amount of such documentary L/C outstanding at any time during the period since the then most recent payment of such fee, payable quarterly in arrears, on the first day of each month, and on the End Date.
(iii) Notwithstanding Subsections (i) and (ii), above, following the occurrence of any Event of Default (and whether or not the Agent exercises the Agent’s rights on account thereof), the above fees, at the option of the Agent, shall be two percent (2%) per annum above the applicable rates above.
(c) In addition to the fee to be paid as provided in Section 2.19(a), above, the Borrower shall pay to the Agent (or to the Issuer, if so requested by Agent), on demand, all other customary issuance, processing, negotiation, amendment, and administrative fees and other amounts charged by the Issuer on account of, or in respect to, any L/C.
(d) If any change in any law, executive order or regulation, or any directive of any administrative or governmental authority (whether or not having the force of law), or in the interpretation thereof by any court or administrative or governmental authority charged with the administration thereof, in each case after the date hereof, shall either:
(i) impose, modify or deem applicable any reserve, special deposit or similar requirements against letters of credit heretofore or hereafter issued by any Issuer or with respect to which the Agent, the Lenders or any Issuer has an obligation to lend to fund drawings under any L/C; or
(ii) impose on any Issuer any other condition or requirements relating to any such letters of credit; and the result of any eve...
FEES FOR L/C'S. (a) The Borrower shall pay to the Lender a fee, on account of L/C's, the issuance of which had been procured by the Lender, monthly in arrears, and on the Termination Date and on the End Date, equal to one and one quarter of one percent (1.25%) per annum of the weighted average Stated Amount of all L/C's outstanding during the period in respect of which such fee is being paid.
(b) In addition to the fee to be paid as provided in Subsection 2-17(a), above, the Borrower shall pay to the Lender (or to the Issuer, if so requested by Lender), on demand, all issuance, processing, negotiation, amendment, and administrative fees and other amounts charged by the Issuer on account of, or in respect to, any L/C.
FEES FOR L/C'S. (a) The Borrowers shall pay to the Agent a fee, on account of L/C's, the issuance of which had been procured by the Agent, quarterly in arrears, and on the Termination Date and on the End Date, equal to:
(i) The Eurodollar Applicable Margin on account of standby letters of credit.
(ii) The Eurodollar Applicable Margin minus 50 basis points on account of documentary letters of credit.
(iii) Following the occurrence of any Event of Default, such fee shall be increased by two percent (2%) per annum.
(b) In addition to the fee to be paid as provided in Subsection 2.19(a), above, the Borrowers shall pay to the Agent (or to the Issuer, if so requested by Agent), on demand, all issuance, processing, negotiation, amendment, and administrative fees and other amounts charged by the Issuer on account of, or in respect to, any L/C.
(c) If any change in Applicable Law shall either:
(i) impose, modify or deem applicable any reserve, special deposit or similar requirements against letters of credit heretofore or hereafter issued by any Issuer or with respect to which any Revolving Credit Lender or any Issuer has an obligation to lend to fund drawings under any L/C; or
(ii) impose on any Issuer any other condition or requirements relating to any such letters of credit;
FEES FOR L/C'S. (a) The Borrower shall pay to the Lender a fee, on account of L/C's, the issuance of which had been procured by the Lender, monthly in arrears, and on the Termination Date and on the End Date, equal to the following percentages per annum of the weighted average Stated Amount of all L/C's outstanding during the period in respect of which such fee is being paid except that, following the occurrence and during the continuance of any Event of Default, such fee shall be increased by two percent (2%) per annum: Line Utilization Standby L/C Fee Documentary L/C Fee ------------------------------------------------------------------------- Level I - - Up to $5,000,000.00 1.25% 0.75% ------------------------------------------------------------------------- Level II - - Greater than $5,000,000.00, but less than $10,000,000.00 1.50% 1.00% ------------------------------------------------------------------------- Level III - - Greater than $10,000,000.00 2.00% 1.50% -------------------------------------------------------------------------
FEES FOR L/C'S. The Borrower shall pay to the Lender a fee, on account of L/C's, the issuance of which had been procured by the Lender, monthly in arrears, and on the Termination Date and on the End Date, equal to Two percent (2%) per annum of the weighted average Stated Amount of all L/C's outstanding during the period in respect of which such fee is being paid except that, following the occurrence and during the continuance of any Event of Default, such fee shall be increased by Two percent (2%) per annum.
FEES FOR L/C'S. (a) The Borrowers shall pay to the Agent a fee, on account of L/C's, the issuance of which had been procured by the Agent, as follows:
FEES FOR L/C'S. (a) The Borrower shall pay to the Lender a fee, on account of L/C's, the issuance of which had been procured by the Lender, monthly in arrears, and on the Termination Date and on the End Date, equal to the following percentage per annum of the weighted average Stated Amount of all L/C's outstanding during the period in respect of which such fee is being paid based upon the corresponding amount of average excess Availability. I 1.50 % 1.00 % Greater than $5,000,000.00 II 1.75 % 1.25 % Greater than $2,500,000.00 but less than $5,000,000.00 III 2.00 % 1.50 % Less than or equal to $2,500,000.00 The Standby Fee and the Documentary Fee on the Closing Date shall be established at Level I for the initial 6 months after the Closing Date and adjusted at the end of each fiscal quarter thereafter based upon the average amount of excess Availability.
(b) In addition to the fee to be paid as provided in Subsection 2.16(a), above, the Borrower shall pay to the Lender (or to the Issuer, if so requested by ▇▇▇▇▇▇), on demand, all reasonable issuance, processing, negotiation, amendment, and administrative fees and other amounts customarily charged by the Issuer on account of, or in respect to, any L/C.
(c) If any change in Applicable Law shall either:
(i) impose, modify or deem applicable any reserve, special deposit or similar requirements against letters of credit heretofore or hereafter issued by any Issuer or with respect to which the Lender or any Issuer has an obligation to lend to fund drawings under any L/C; or
(ii) impose on any Issuer any other condition or requirements relating to any such letters of credit;