Common use of Fees for Letters of Credit Clause in Contracts

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.16, to the Administrative Agent for the pro rata benefit of the Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances per annum on the face amount of such Letter of Credit, and (B) $750 per Letter of Credit. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to the Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.125% per annum on the face amount of such Letter of Credit and (B) $750. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. (iii) To the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters of Credit. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 6 contracts

Samples: Credit Agreement (Jagged Peak Energy Inc.), Credit Agreement (Jagged Peak Energy Inc.), Credit Agreement (Jagged Peak Energy Inc.)

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Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.162.17 and the remaining provisions of this clause (i), the Borrower agrees to pay, to the Administrative Agent for the pro rata benefit of the Lenders Revolving Lenders, a per annum letter of credit fee for each Letter of Credit issued hereunder, hereunder in an amount equal to the Applicable Margin for Revolving Tranche A Advances that are Eurodollar Advances on the face amount of such Letter of Credit for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances per annum on the face amount of such Letter of Credit, and (B) $750 per Letter of Credit. Such which fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. Notwithstanding anything to the contrary contained hereinforegoing, while (A) upon the occurrence and during the continuance of an Event of Default under Section 7.1(a) or Section 7.1(g), all letter of credit fees under this clause (i) shall accrue, after as well as before judgment, at the Default Rate and (B) upon the occurrence and during the continuance of any Event of Default exists(including under Section 7.1(a) or Section 7.1(g)), at upon the request of the Majority Lenders, all Letter letter of Credit credit fees under this clause (i) shall accrue accrue, after as well as before judgment, at the Default Rate. (ii) If there are two or more Lenders, The Borrower agrees to pay to the Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.125% per annum on the face amount of such Letter of Credit and (B) $750. Such 750.00, which fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. (iii) To The Borrower agrees to pay the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters of Credit. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 4 contracts

Samples: Credit Agreement (Nine Energy Service, Inc.), Credit Agreement (Nine Energy Service, Inc.), Credit Agreement (Nine Energy Service, Inc.)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.162.14, to the Administrative Agent for the pro rata benefit of the Revolving Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin then in effect for Eurodollar Advances per annum on the face amount of such Letter of Credit, Credit and (B) $750 per Letter of Credit. Such fee shall be due and payable quarterly in arrears on March 3131st, June 3030th, September 3030th, and December 31 31st of each year, and on the Revolving Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to To the Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.1250.25% per annum on the face amount of such Letter of Credit and (B) $750. Such fee shall be due and payable quarterly in arrears on March 3131st, June 3030th, September 3030th, and December 31 31st of each year, and on the Revolving Maturity Date. (iii) To the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters of Credit. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 4 contracts

Samples: Credit Agreement (Aly Energy Services, Inc.), Credit Agreement (Aly Energy Services, Inc.), Credit Agreement (Aly Energy Services, Inc.)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.162.14, to the Administrative Agent for the pro rata benefit of the Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances per annum on the face amount of such Letter of Credit, and (B) $750 600 per Letter of Credit. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to To the Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.125% per annum on the face amount of such Letter of Credit and (B) $750600. Such fee shall be due and payable in advance on the date of the issuance of the Letter of Credit, and, in the case of an increase or extension only, on the date of such increase or such extension. (iii) Subject to Section 2.14, to the Administrative Agent for the pro rata benefit of the Lenders such additional per annum letter of credit fee for each commercial Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount agreed to between the Borrower and the Issuing Lender in writing. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. (iiiiv) To the Issuing Lender, an additional fronting fee for each commercial Letter of Credit equal an amount agreed to between the Borrower and the Issuing Lender. Such fee shall be due and payable in advance on the date of the issuance of the Letter of Credit in writing, and, in the case of an increase or extension only, on the date of such increase or such extension. (v) To the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters of Credit. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 3 contracts

Samples: Credit Agreement (Hi-Crush Partners LP), Credit Agreement (Hi-Crush Partners LP), Credit Agreement (Hi-Crush Partners LP)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.16, to the Administrative Agent for the pro rata benefit of the Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances Loans per annum on the face amount of such Letter of Credit, and (B) $750 500 per Letter of Credit. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. Notwithstanding anything to the contrary contained herein, (1) while any Event of Default under Section 7.1(a) or Section 7.1(g) exists, or (2) at the request Request of the Majority Lenders, while any Event of Default (including any Event of Default under Section 7.1(a) or Section 7.1(g)), all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to the Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.125% per annum on the face amount of such Letter of Credit and (B) $750500. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. (iii) To the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters of Credit. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 2 contracts

Samples: Credit Agreement (Extraction Oil & Gas, LLC), Credit Agreement (Extraction Oil & Gas, LLC)

Fees for Letters of Credit. The US Borrower agrees to pay the following: (i) Subject to Section 2.16, to To the US Administrative Agent for the pro rata benefit of the US Facility Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, in the currency of such Letter of Credit, for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) an amount equal to the Applicable Margin for Eurodollar Eurocurrency Advances per annum on the face undrawn amount of such Letter of Credit, and (B) $750 600 per Letter of Credit. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to To the Issuing Lender, a an annual fronting fee for each Letter of Credit Credit, in the currency of such Letter of Credit, equal to the greater of (A) 0.1250.20% per annum on the face amount of such Letter of Credit and (B) $750600 per annum. Such fronting fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. (iii) To the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations negotiations, issuances or reissuances of any Letters of CreditCredit issued by the Issuing Lender. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s then current fee policy. The US Borrower shall have no right to any refund of letter of credit fees previously paid by the US Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 2 contracts

Samples: Credit Agreement (NCS Multistage Holdings, Inc.), Credit Agreement (NCS Multistage Holdings, Inc.)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.16, to To the Administrative Agent for the pro rata benefit of the Revolving Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances per annum on the face amount of such Letter of Credit, and (B) $750 650.00 per Letter of Credit. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Revolving Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to To the Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.125% per annum on the face amount of such Letter of Credit and (B) $750500.00. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and advance on the Maturity Datedate of the issuance of the Letter of Credit, and, in the case of an increase or extension only, on the date of such increase or such extension. (iii) To the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters of Credit. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 2 contracts

Samples: Credit Agreement (Flotek Industries Inc/Cn/), Credit Agreement (Flotek Industries Inc/Cn/)

Fees for Letters of Credit. The Borrower agrees Borrowers agree to pay the following: (i) Subject to Section 2.16, to To the US Administrative Agent for the pro rata benefit of the US Facility Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, in the currency of such Letter of Credit, for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) an amount equal to the Applicable Margin for Eurodollar Eurocurrency Advances per annum on the face undrawn amount of such Letter of Credit, and (B) $750 600 per Letter of Credit. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to To the Issuing Lender, a an annual fronting fee for each Letter of Credit Credit, in the currency of such Letter of Credit, equal to the greater of (A) 0.1250.20% per annum on the face amount of such Letter of Credit and (B) $750600 per annum. Such fronting fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. (iii) To the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations negotiations, issuances or reissuances of any Letters of CreditCredit issued by the Issuing Lender. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s then current fee policy. The Borrower Borrowers shall have no right to any refund of letter of credit fees previously paid by the BorrowerBorrowers, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 2 contracts

Samples: Credit Agreement (NCS Multistage Holdings, Inc.), Credit Agreement (NCS Multistage Holdings, Inc.)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.16, to To the Administrative Agent for the pro rata benefit of the Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar LIBOR Advances per annum on the face amount of such Letter of Credit, and (B) $750 600 per Letter of Credit. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to To the Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.1250.250% per annum on the face amount of such Letter of Credit and (B) $750600. Such fee shall be due and payable in advance on the date of the issuance of the Letter of Credit, and, in the case of an increase or extension only, on the date of such increase or such extension. (iii) To the Administrative Agent for the pro rata benefit of the Lenders such additional per annum letter of credit fee for each commercial Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount agreed to between the Borrower and the Issuing Lender in writing. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. (iiiiv) To the Issuing Lender, an additional fronting fee for each commercial Letter of Credit equal an amount agreed to between the Borrower and the Issuing Lender. Such fee shall be due and payable in advance on the date of the issuance of the Letter of Credit in writing, and, in the case of an increase or extension only, on the date of such increase or such extension. (v) To the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters of Credit. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 2 contracts

Samples: Credit Agreement (Carbo Ceramics Inc), Credit Agreement (Carbo Ceramics Inc)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.162.14, to the Administrative Agent for the pro rata benefit of the Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances per annum on the face amount of such Letter of Credit, and (B) $750 600 per Letter of Credit. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. Notwithstanding anything to Date (unless any such date shall not be a Business Day in which case such payment shall be made on the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Ratenext preceding Business Day). (ii) If there are two or more Lenders, to To the Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.125% per annum on the face amount of such Letter of Credit and (B) $750600. Such fee shall be due and payable in advance on the date of the issuance of the Letter of Credit, and, in the case of an increase or extension only, on the date of such increase or such extension. (iii) Subject to Section 2.14, to the Administrative Agent for the pro rata benefit of the Lenders such additional per annum letter of credit fee for each commercial Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount agreed to between the Borrower and the Issuing Lender in writing. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity DateDate (unless any such date shall not be a Business Day in which case such payment shall be made on the next preceding Business Day). (iiiiv) To the Issuing Lender, an additional fronting fee for each commercial Letter of Credit equal an amount agreed to between the Borrower and the Issuing Lender. Such fee shall be due and payable in advance on the date of the issuance of the Letter of Credit in writing, and, in the case of an increase or extension only, on the date of such increase or such extension. (v) To the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters of Credit. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 2 contracts

Samples: Credit Agreement (Hi-Crush Partners LP), Credit Agreement (Hi-Crush Partners LP)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.162.17 and the remaining provisions of this clause (i), the Borrower agrees to pay, to the Administrative Agent for the pro rata benefit of the Lenders Revolving Lenders, a per annum letter of credit fee for each Letter of Credit issued hereunder, hereunder in an amount equal to the Applicable Margin for Eurodollar Advances on the face amount of such Letter of Credit for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances per annum on the face amount of such Letter of Credit, and (B) $750 per Letter of Credit. Such which fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. Notwithstanding anything to the contrary contained hereinforegoing, while (A) upon the occurrence and during the continuance of an Event of Default under Section 7.1(a) or Section 7.1(g), all letter of credit fees under this clause (i) shall accrue, after as well as before judgment, at the Default Rate and (B) upon the occurrence and during the continuance of any Event of Default exists(including under Section 7.1(a) or Section 7.1(g)), at upon the request of the Majority Lenders, all Letter letter of Credit credit fees under this clause (i) shall accrue accrue, after as well as before judgment, at the Default Rate. (ii) If there are two or more Lenders, The Borrower agrees to pay to the Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.125% per annum on the face amount of such Letter of Credit and (B) $750. Such 750.00, which fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. (iii) To The Borrower agrees to pay the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters of Credit. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 2 contracts

Samples: Credit Agreement (Nine Energy Service, Inc.), Credit Agreement (Nine Energy Service, Inc.)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.16, to the Administrative Agent for the pro rata benefit of the Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances per annum on the face amount of such Letter of Credit, and (B) $750 per Letter of Credit. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to To the Issuing Lender, for its own account, a fronting fee for each Letter of Credit equal to the greater of (A) 0.125% per annum on the face amount of such Letter of Credit and (B) $750700. Such fee shall be due and payable quarterly in arrears arrears, so long as any such Letter of Credit is outstanding, on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. (iii) To the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters of Credit. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 2 contracts

Samples: Credit Agreement (Berry Petroleum Corp), Credit Agreement (Berry Petroleum Corp)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.16, to the Administrative Agent for the pro rata benefit of the Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances per annum on the face Dollar Equivalent of the available amount of such Letter of Credit, and (B) $750 600.00 per Letter of Credit. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Revolving Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to the To each Issuing Lender, a fronting fee for each Letter of Credit issued, increased or extended by such Issuing Lender, equal to the greater of (A) 0.125% per annum on the face available amount of such Letter of Credit and (B) $750600.00. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Letter of Credit Termination Date. (iii) To each Issuing Lender, an additional fronting fee for each commercial Letter of Credit equal to an amount agreed to between the Borrower and such Issuing Lender. Such fee shall be due and payable in advance on the date of the issuance of the Letter of Credit in writing, and, in the case of an increase or extension only, on the date of such increase or such extension. (iv) To each Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations negotiations, issuances or reissuances of any Letters of CreditCredit issued by such Issuing Lender. Such fees shall be due and payable as requested by the applicable Issuing Lender in accordance with the such Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 2 contracts

Samples: Credit Agreement (Forum Energy Technologies, Inc.), Credit Agreement (Forum Energy Technologies, Inc.)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.16, to the Administrative Agent for the pro rata benefit of the Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances per annum on the Dollar Equivalent of the face amount of such Letter of Credit, and (B) $750 600.00 per Letter of Credit. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to the To each Issuing Lender, a fronting fee for each Letter of Credit issued, increased or extended by such Issuing Lender, equal to the greater of (A) 0.125% per annum on the face amount of such Letter of Credit and (B) $750600.00. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and advance on the Maturity Datedate of the issuance of the Letter of Credit, and, in the case of an increase or extension only, on the date of such increase or such extension. (iii) To each Issuing Lender, an additional fronting fee for each commercial Letter of Credit equal to an amount agreed to between the Borrower and such Issuing Lender. Such fee shall be due and payable in advance on the date of the issuance of the Letter of Credit in writing, and, in the case of an increase or extension only, on the date of such increase or such extension. (iv) To each Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations negotiations, issuances or reissuances of any Letters of CreditCredit issued by such Issuing Lender. Such fees shall be due and payable as requested by the applicable Issuing Lender in accordance with the such Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 1 contract

Samples: Credit Agreement (Forum Energy Technologies, Inc.)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.162.15, to the Administrative Agent for the pro rata benefit of the Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances per annum on the face amount of such Letter of Credit, and (B) $750 500 per Letter of Credit. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to To the Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.125% per annum on the face amount of such Letter of Credit and (B) $750500. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. (iii) To the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters of Credit. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 1 contract

Samples: Credit Agreement (Triangle Petroleum Corp)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.162.14, to the Administrative Agent for the pro rata benefit of the Revolving Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances per annum on the face amount of such Letter of Credit, and (B) $750 per Letter of Credit. Such fee shall be due and payable quarterly in arrears on March 3131st, June 3030th, September 3030th, and December 31 31st of each year, and on the Revolving Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to To the Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.125% per annum on the face amount of such Letter of Credit and (B) $750. Such fee shall be due and payable quarterly in arrears on March 3131st, June 3030th, September 3030th, and December 31 31st of each year, and on the Revolving Maturity Date. (iii) To the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters of Credit. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 1 contract

Samples: Credit Agreement (Steel Excel Inc.)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.16, to the Administrative Agent for the pro rata benefit of the Revolving Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, hereunder in an amount equal to the Applicable Margin for Eurocurrency Advances under the Revolving Facility on the face amount of such Letter of Credit for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances per annum on the face amount of such Letter of Credit, and (B) $750 per Letter of Credit. Such which fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate.; (ii) If there are two or more Lenders, to the Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.1250.25% per annum on the face amount of such Letter of Credit and (B) $750. Such 750.00, which fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and advance on the Maturity Date.date of the issuance of the Letter of Credit, and, in the case of an increase or extension only, on the date of such increase or such extension; and (iii) To to the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters Letter of Credit. Such , which fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because the Borrower cancels any Letter of Credit is canceled prior to its expiration date.

Appears in 1 contract

Samples: Credit Agreement (Nine Energy Service, Inc.)

Fees for Letters of Credit. The Borrower agrees to pay the following: : (i) Subject subject to Section 2.16, to the Administrative Agent for the pro rata benefit of the Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, in an amount equal to the Applicable Margin for Eurodollar Advances per annum multiplied by the face amount of such Letter of Credit for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances per annum on the face amount of such Letter of Credit, and (B) $750 per Letter of Credit. Such which fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each yearyear commencing on September 30, 2016, and on the Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. ; (ii) If there are two or more Lenderssubject to Section 2.16, to the Issuing Lender, a fronting fee for each Letter of Credit equal to in an amount separately agreed by the greater of (A) 0.125% per annum on Borrower and the face amount of such Letter of Credit and (B) $750. Such Issuing Lender, which fee shall be due and payable quarterly annually in arrears advance on March 31, June 30, September 30, and December 31 the date of the issuance or increase of each year, Letter of Credit and on the earlier of each annual anniversary thereafter or the Maturity Date. ; and (iii) To to the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters Letter of Credit. Such , which fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because the Borrower cancels any Letter of Credit is canceled prior to its expiration date.

Appears in 1 contract

Samples: Credit Agreement (Helmerich & Payne, Inc.)

Fees for Letters of Credit. The Borrower agrees to pay the following: : (i) Subject subject to Section 2.16, to the Administrative Agent for the pro rata benefit of the Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, hereunder in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances per annum on the face amount of such Letter of Credit, and (B) $750 per Credit for the period such Letter of Credit. Such Credit is outstanding, which fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. ; (ii) If there are two or more Lenderssubject to Section 2.16, to the Issuing Lender, a fronting fee for each Letter of Credit equal to in an amount separately agreed by the greater of (A) 0.125% per annum on Borrower and the face amount of such Letter of Credit and (B) $750. Such Issuing Lender, which fee shall be due and payable quarterly annually in arrears advance on March 31, June 30, September 30, and December 31 the date of the issuance or increase of each year, Letter of Credit and on the earlier of each annual anniversary thereafter or the Maturity Date. ; and (iii) To to the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters Letter of Credit. Such , which fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because the Borrower cancels any Letter of Credit is canceled prior to its expiration date.

Appears in 1 contract

Samples: Credit Agreement (Helmerich & Payne Inc)

Fees for Letters of Credit. The Borrower agrees to pay the following: : (i) Subject to Section 2.16, to the Administrative Agent for the pro rata benefit of the Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, hereunder in an amount equal to the Applicable Margin for Eurodollar Advances on the face amount of such Letter of Credit for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances per annum on the face amount of such Letter of Credit, and (B) $750 per Letter of Credit. Such which fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. ; (ii) If there are two or more Lenders, to the applicable Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.125.125% per annum on the face amount of such Letter of Credit (and in the case of an increase, on the amount of such increase) and (B) $750. Such 600.00, which fee shall be due and payable quarterly annually in arrears advance on March 31, June 30, September 30, and December 31 the date of the issuance or increase of each year, Letter of Credit and on the earlier of each annual anniversary thereafter or the Maturity Date. ; and (iii) To to the applicable Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters Letter of Credit. Such , which fees shall be due and payable as requested by the such Issuing Lender in accordance with the such Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because the Borrower cancels any Letter of Credit is canceled prior to its expiration date.

Appears in 1 contract

Samples: Credit Agreement (Rowan Companies Inc)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.16, to the Administrative DIP Agent for the pro rata benefit of the Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances 5.75% per annum on the face amount of such Letter of Credit, and (B) $750 500 per Letter of Credit. Such fee shall be due and payable quarterly monthly in arrears (x) on March 31, June 30, September 30, and December 31 the first Business Day following the end of each year, calendar month and (y) on the Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to To the Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.125% per annum on the face amount of such Letter of Credit and (B) $750500. Such fee shall be due and payable quarterly in arrears (x) on March 31, June 30, September 30, and December 31 the first Business Day following the end of each year, calendar month and (b) on the Maturity Date. (iii) To the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters of Credit. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s 's then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 1 contract

Samples: Debtor in Possession Credit Agreement (Extraction Oil & Gas, Inc.)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.162.15, to the Administrative Agent for the pro rata benefit of the Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances per annum on the face amount of such Letter of Credit, and (B) $750 500 per Letter of Credit. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to To the Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.125% per annum on the face amount of such Letter of Credit and (B) $750500. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. (iii) To the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters of Credit. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s 's then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 1 contract

Samples: Credit Agreement (Triangle Petroleum Corp)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.162.14, to the Administrative Agent for the pro rata benefit of the Revolving Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances 4.50% per annum on the face amount of such Letter of Credit, Credit and (B) $750 per Letter of Credit. Such fee shall be due and payable quarterly in arrears on March 3131st, June 3030th, September 3030th, and December 31 31st of each year, and on the Revolving Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to To the Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.1250.25% per annum on the face amount of such Letter of Credit and (B) $750. Such fee shall be due and payable quarterly in arrears on March 3131st, June 3030th, September 3030th, and December 31 31st of each year, and on the Revolving Maturity Date. (iii) To the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters of Credit. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 1 contract

Samples: Credit Agreement (Aly Energy Services, Inc.)

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Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.16, to To the Administrative Agent for the pro rata benefit of the Lenders a per annum letter of credit fee for each Letter Letters of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, hereunder in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances per annum on for such period multiplied by the face average daily undrawn amount of all Letters of Credit outstanding during such Letter of Credit, and period or (B) $750 per Letter of Credit600.00. Such fee fees shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to To the Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.125.125% per annum on the face amount of such Letter of Credit and (B) $750600.00. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and advance on the Maturity Datedate of the issuance of the Letter of Credit, and, in the case of an increase or extension only, on the date of such increase or such extension. (iii) To the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters of Credit. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because the Borrower cancels any Letter of Credit is canceled prior to its expiration date.

Appears in 1 contract

Samples: Credit Agreement (Pioneer Drilling Co)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.16, to the Administrative Agent for the pro rata benefit of the Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances per annum on the face amount of such Letter of Credit, and (B) $750 500 per Letter of Credit. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. Notwithstanding anything to the contrary contained herein, (1) while any Event of Default under Section 7.1(a) or Section 7.1(g) exists, or (2) at the request Request of the Majority Required Lenders, while any other Event of Default exists, all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to To the Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.125% per annum on the face amount of such Letter of Credit and (B) $750500. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. (iii) To the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters of Credit. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 1 contract

Samples: Credit Agreement (Triangle Petroleum Corp)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.16, to the Administrative Agent for the pro rata benefit of the Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances Loans per annum on the face amount of such Letter of Credit, and (B) $750 500 per Letter of Credit. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. Notwithstanding anything to the contrary contained herein, (1) while any Event of Default under Section 7.1(a) or Section 7.1(g) exists, or (2) at the request of the Majority Lenders, while any Event of Default (including any Event of Default under Section 7.1(a) or Section 7.1(g)), all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to the Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.125% per annum on the face amount of such Letter of Credit and (B) $750500. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. (iii) To the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters of Credit. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s 's then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 1 contract

Samples: Credit Agreement (Extraction Oil & Gas, Inc.)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.16, to To the Administrative Agent for the pro rata benefit of the Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances four percent (4.00%) per annum on the face amount of such Letter of Credit, and (B) $750 600 per Letter of Credit. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to To the Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.1250.250% per annum on the face amount of such Letter of Credit and (B) $750600. Such fee shall be due and payable in advance on the date of the issuance of the Letter of Credit, and, in the case of an increase or extension only, on the date of such increase or such extension. (iii) To the Administrative Agent for the pro rata benefit of the Lenders such additional per annum letter of credit fee for each commercial Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount agreed to between the Borrower and the Issuing Lender in writing. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. (iiiiv) To the Issuing Lender, an additional fronting fee for each commercial Letter of Credit equal an amount agreed to between the Borrower and the Issuing Lender. Such fee shall be due and payable in advance on the date of the issuance of the Letter of Credit in writing, and, in the case of an increase or extension only, on the date of such increase or such extension. (v) To the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters of Credit. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 1 contract

Samples: Credit Agreement (Carbo Ceramics Inc)

Fees for Letters of Credit. The Borrower agrees to pay the following: (ia) Subject to Section 2.162.14, to the Administrative Agent for the pro rata benefit of the Revolving Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin then in effect for Eurodollar Advances per annum on the face amount of such Letter of Credit, Credit and (B) $750 per Letter of Credit. Such fee shall be due and payable quarterly in arrears on March 3131st, June 3030th, September 3030th, and December 31 31st of each year, and on the Revolving Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. (iib) If there are two or more Lenders, to To the Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.1250.25% per annum on the face amount of such Letter of Credit and (B) $750. Such fee shall be due and payable quarterly in arrears on March 3131st, June 3030th, September 3030th, and December 31 31st of each year, and on the Revolving Maturity Date. (iiic) To the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters of Credit. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 1 contract

Samples: Credit Agreement (Aly Energy Services, Inc.)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.16, to To the Administrative Agent for the pro rata benefit of the Revolving Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances per annum on the face amount of such Letter of Credit, and (B) $750 600.00 per Letter of Credit. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Revolving Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to To the Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.1250.250% per annum on the face amount of such Letter of Credit and (B) $750600.00. Such fee shall be due and payable in advance on the date of the issuance of the Letter of Credit, and, in the case of an increase or extension only, on the date of such increase or such extension. (iii) To the Administrative Agent for the pro rata benefit of the Revolving Lenders such additional per annum letter of credit fee for each commercial Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount agreed to between the Borrower and the Issuing Lender in writing. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Revolving Maturity Date. (iiiiv) To the Issuing Lender, an additional fronting fee for each commercial Letter of Credit equal an amount agreed to between the Borrower and the Issuing Lender. Such fee shall be due and payable in advance on the date of the issuance of the Letter of Credit in writing, and, in the case of an increase or extension only, on the date of such increase or such extension. (v) To the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters of Credit. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s 's then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 1 contract

Samples: Credit Agreement (Boots & Coots International Well Control Inc)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.16, to To the Administrative Agent for the pro rata benefit of the Lenders a per annum letter of credit fee for each Letter Letters of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, hereunder in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances per annum on for such period multiplied by the face average daily undrawn amount of all Letters of Credit outstanding during such Letter of Credit, and period or (B) $750 per Letter of Credit600.00. Such fee fees shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to To the Issuing Lender, a fronting fee for each Letter of Credit (other than the Existing Letters of Credit) equal to the greater of (A) 0.125.125% per annum on the face amount of such Letter of Credit and (B) $750600.00. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and advance on the Maturity Datedate of the issuance of the Letter of Credit, and, in the case of an increase or extension only, on the date of such increase or such extension. (iii) To the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters of Credit. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because the Borrower cancels any Letter of Credit is canceled prior to its expiration date.

Appears in 1 contract

Samples: Credit Agreement (Pioneer Drilling Co)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.16, to To the Administrative Agent for the pro rata benefit of the Lenders a per annum letter of credit fee for each Letter Letters of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, hereunder in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances per annum on for such period multiplied by the face average daily undrawn amount of all Letters of Credit outstanding during such Letter of Credit, and period or (B) $750 per Letter of Credit600.00. Such fee fees shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to To the Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.125.125% per annum on the face amount of such Letter of Credit and (B) $750600.00. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and advance on the Maturity Datedate of the issuance of the Letter of Credit, and, in the case of an increase or extension only, on the date of such increase or such extension. (iii) To the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters of Credit. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s 's then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because the Borrower cancels any Letter of Credit is canceled prior to its expiration date.

Appears in 1 contract

Samples: Credit Agreement (Pioneer Energy Services Corp)

Fees for Letters of Credit. The Borrower agrees to pay the following: : (i) Subject to Section 2.16, to the Administrative Agent for the pro rata benefit of the Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, hereunder in an amount equal to the Applicable Margin for Eurodollar Advances on the face amount of such Letter of Credit for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances per annum on the face amount of such Letter of Credit, and (B) $750 per Letter of Credit. Such which fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. ; (ii) If there are two or more Lenders, to the Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.125.075% per annum on the face amount of such Letter of Credit (and in the case of an increase, on the amount of such increase) and (B) $750. Such 600.00, which fee shall be due and payable quarterly annually in arrears advance on March 31, June 30, September 30, and December 31 the date of the issuance or increase of each year, Letter of Credit and on the earlier of each annual anniversary thereafter or the Maturity Date. ; and (iii) To to the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters Letter of Credit. Such , which fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because the Borrower cancels any Letter of Credit is canceled prior to its expiration date.

Appears in 1 contract

Samples: Credit Agreement (Helmerich & Payne Inc)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.16, to the Administrative Agent for the pro rata benefit of the Revolving Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances per annum on the Dollar Equivalent of the face amount of such Letter of Credit, and (B) $750 600.00 per Letter of Credit. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Revolving Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to the To each Issuing Lender, a fronting fee for each Letter of Credit issued, increased or extended by such Issuing Lender, equal to the greater of (A) 0.125% per annum on the face amount of such Letter of Credit and (B) $750600.00. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and advance on the Maturity Datedate of the issuance of the Letter of Credit, and, in the case of an increase or extension only, on the date of such increase or such extension. (iii) To each Issuing Lender, an additional fronting fee for each commercial Letter of Credit equal to an amount agreed to between the Borrower and such Issuing Lender. Such fee shall be due and payable in advance on the date of the issuance of the Letter of Credit in writing, and, in the case of an increase or extension only, on the date of such increase or such extension. (iv) To each Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations negotiations, issuances or reissuances of any Letters of CreditCredit issued by such Issuing Lender. Such fees shall be due and payable as requested by the applicable Issuing Lender in accordance with the such Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 1 contract

Samples: Credit Agreement (Forum Energy Technologies, Inc.)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.16, to the Administrative Agent for the pro rata benefit of the Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, hereunder in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances Loans per annum on the face amount of such Letter of Credit, and (B) $750 500 per Letter of Credit. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. Notwithstanding anything to the contrary contained herein, (1) while any Event of Default under Section 7.1(a) or Section 7.1(g) exists, or (2) at the request of the Majority Lenders, while any other Event of Default exists, all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to the Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.125% per annum on the face amount of such Letter of Credit and (B) $750500. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Maturity Date. (iii) To the Issuing Lender Lender, such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters of Credit. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s 's then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 1 contract

Samples: Credit Agreement (Extraction Oil & Gas, Inc.)

Fees for Letters of Credit. The Borrower agrees to pay the following: following (subject to Section 2.16(a)(iii)): (i) Subject to Section 2.16, to the Administrative Agent for the pro rata benefit of the Revolving Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, hereunder in an amount equal to the Applicable Margin for Borrowings consisting of Eurodollar Advances on the face amount of such Letter of Credit for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances per annum on the face amount of such Letter of Credit, and (B) $750 per Letter of Credit. Such which fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Revolving Credit Maturity Date. Notwithstanding anything ; provided, however, that any letter of credit fees otherwise payable for the account of a Defaulting Lender with respect to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at be payable, to the Default Rate. maximum extent permitted by applicable law, to the other Revolving Lenders in accordance with the upward adjustments in their respective Applicable Percentage allocable to such Letter of Credit pursuant to Section 2.16(a)(iv), with the balance of such fee, if any, being retained by the Borrower for its own account or, to the extent any Fronting Exposure shall then be outstanding, being payable to the applicable Issuing Lender for its own account to the extent such fee relates to the amount of such Fronting Exposure; (ii) If there are two or more Lenders, to the applicable Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.125% per annum on the face amount of such Letter of Credit (and in the case of an increase, on the amount of such increase) and (B) $750. Such 600.00, which fee shall be due and payable quarterly annually in arrears advance on March 31, June 30, September 30, and December 31 the date of the issuance or increase of each year, Letter of Credit and on the earlier of each annual anniversary thereafter or the Revolving Credit Maturity Date. ; and (iii) To to the applicable Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters Letter of Credit. Such , which fees shall be due and payable as requested by the such Issuing Lender in accordance with the such Issuing Lender’s 's then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because the Borrower cancels any Letter of Credit is canceled prior to its expiration date.

Appears in 1 contract

Samples: Credit Agreement (Rowan Companies Inc)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.162.14, to the Administrative Agent for the pro rata benefit of the Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) the Applicable Margin for Eurodollar Advances per annum on the face amount of such Letter of Credit, and (B) $750 600 per Letter of Credit. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Revolving Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to To the Issuing Lender, a fronting fee for each Letter of Credit equal to the greater of (A) 0.125% per annum on the face amount of such Letter of Credit and (B) $750600. Such fee shall be due and payable in advance on the date of the issuance of the Letter of Credit, and, in the case of an increase or extension only, on the date of such increase or such extension. (iii) Subject to Section 2.14, to the Administrative Agent for the pro rata benefit of the Lenders such additional per annum letter of credit fee for each commercial Letter of Credit issued hereunder, for the period such Letter of Credit is to be outstanding, in an amount agreed to between the Borrower and the Issuing Lender in writing. Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Revolving Maturity Date. (iiiiv) To the Issuing Lender, an additional fronting fee for each commercial Letter of Credit equal an amount agreed to between the Borrower and the Issuing Lender. Such fee shall be due and payable in advance on the date of the issuance of the Letter of Credit in writing, and, in the case of an increase or extension only, on the date of such increase or such extension. (v) To the Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or reissuances of any Letters of Credit. Such fees shall be due and payable as requested by the Issuing Lender in accordance with the Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 1 contract

Samples: Commitment Increase Agreement and Second Amendment (Hi-Crush Partners LP)

Fees for Letters of Credit. The Borrower agrees to pay the following: (i) Subject to Section 2.16, to To the Administrative Agent for the pro rata benefit of the Revolving Lenders a per annum letter of credit fee for each Letter of Credit issued hereunder, in the currency of such Letter of Credit, for the period such Letter of Credit is to be outstanding, in an amount equal to the greater of (A) an amount equal to (1) subject to the following clause (2), the Applicable Margin for Eurodollar Eurocurrency Advances per annum on the face undrawn amount of such Letter of CreditCredit or (2) if an Event of Default has occurred and is continuing, the Default Rate, and (B) C$600 per Letter of Credit (or, in the case of a Letter of Credit denominated in Dollars, $750 600 per Letter of Credit). Such fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Revolving Maturity Date. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, at the request of the Majority Lenders, all Letter of Credit fees shall accrue at the Default Rate. (ii) If there are two or more Lenders, to the To each Issuing Lender, a an annual fronting fee for each Letter of Credit Credit, in the currency of such Letter of Credit, equal to the greater of (A) 0.1250.20% per annum on the face amount of such Letter of Credit and (B) C$600 per annum (or in the case of a Letter of Credit denominated in Dollars, $750600 per annum). Such fronting fee shall be due and payable quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, and on the Revolving Maturity Date. (iii) To the each Issuing Lender such other usual and customary fees associated with any transfers, amendments, drawings, negotiations negotiations, issuances or reissuances of any Letters of CreditCredit issued by each Issuing Lender. Such fees shall be due and payable as requested by the applicable Issuing Lender in accordance with the such Issuing Lender’s then current fee policy. The Borrower shall have no right to any refund of letter of credit fees previously paid by the Borrower, including any refund claimed because any Letter of Credit is canceled prior to its expiration date.

Appears in 1 contract

Samples: Credit Agreement (NCS Multistage Holdings, Inc.)

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