Fronting Bank Fee. The Borrower shall pay the Administrative ----------------- Agent, for the Fronting Bank's account, a fee (the "Fronting Bank Fee") at a rate per annum equal to one-eighth of one percent (0.125%) of the undrawn amount of such Letter of Credit (less the Fronting Bank's pro rata share thereof based upon the amount of the Fronting Bank's pro rata share of the Commitments), which fee shall be in addition to and not in lieu of, the Letter of Credit Fee. The Fronting Bank Fee shall be payable in arrears on each January 1, April 1, July 1 and October 1 during the Term. The Fronting Bank Fee for any partial calendar quarter shall be prorated.
Appears in 2 contracts
Samples: Credit Agreement (Smith Charles E Residential Realty Inc), Credit Agreement (Smith Charles E Residential Realty Lp)
Fronting Bank Fee. The Borrower shall pay the Administrative ----------------- Agent, for the Fronting Bank's account, a fee (the "Fronting Bank Fee") at a rate per annum equal to one-eighth of one percent (0.125%) of the undrawn amount of such Letter of Credit (less the Fronting Bank's pro rata share thereof based upon the amount of the Fronting Bank's pro rata share of the Commitments), which fee shall be in addition to and not in lieu of, the Letter of Credit Fee. The Fronting Bank Fee shall be payable in arrears on each January 1, April 1, July 1 and October 1 during the Term. The Fronting Bank Fee for any partial calendar quarter shall be prorated.
Appears in 1 contract
Samples: Assignment and Assumption Agreement (Smith Charles E Residential Realty Lp)
Fronting Bank Fee. The Borrower shall pay the ----------------- Administrative ----------------- Agent, for the Fronting Bank's account, a fee (the "Fronting Bank Fee") at a rate per annum equal to one-eighth of one percent (0.125%) of the undrawn amount of such Letter of Credit (less the Fronting Bank's pro rata share thereof based upon the amount of the Fronting Bank's pro rata share of the Commitments), which fee shall be in addition to and not in lieu of, the Letter of Credit Fee. The Fronting Bank Fee shall be payable in arrears on each January 1, April 1, July 1 and October 1 during the Term. The Fronting Bank Fee for any partial calendar quarter shall be prorated.
Appears in 1 contract
Samples: Credit Agreement (Smith Charles E Residential Realty Lp)
