Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers shall pay directly to each L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last Business Day of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers shall pay directly to each L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 8 contracts
Samples: Credit Agreement (MGM Resorts International), Credit Agreement (MGM Resorts International), Credit Agreement (MGM Resorts International)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Subject to the penultimate sentence of this subsection (i), the Borrower shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee in respect of any Letter of Credit shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.08. In addition, the Borrowers Borrower shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such ; such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 6 contracts
Samples: Credit Agreement (Greenbrier Companies Inc), Credit Agreement (Greenbrier Companies Inc), Credit Agreement (Greenbrier Companies Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers shall pay directly to each the applicable L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial sight Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial sight Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers and such the applicable L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly monthly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December calendar month in respect of the most recently-ended quarterly monthly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers shall pay directly to each the applicable L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 6 contracts
Samples: Credit Agreement (Global Partners Lp), Credit Agreement (Global Partners Lp), Credit Agreement (Global Partners Lp)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuerof 0.125%, computed on either (i) so long as no Event of Default has occurred and is continuing, the Dollar Equivalent excess of the daily amount available to be drawn under such Letter of Credit on over the amount of any Cash Collateral provided by such Borrower with respect to such Letter of Credit as a quarterly basis in arrears, result of a Revolving Credit Lender becoming a Defaulting Lender or (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Creditotherwise, at a rate separately agreed between the Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit (irrespective of any Cash Collateral provided with respect thereto), in each case on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 6 contracts
Samples: Credit Agreement (Acadia Healthcare Company, Inc.), Credit Agreement (Acadia Healthcare Company, Inc.), Credit Agreement (Acadia Healthcare Company, Inc.)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the applicable L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter separately agreed between the Company Borrower and such L/C Issuer, computed on the Dollar Equivalent amount of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter separately agreed between the Company Borrower and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit and on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last first Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.3. In addition, the Borrowers Borrower shall pay directly to each the applicable L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 5 contracts
Samples: Revolving Credit Facility (Nordstrom Inc), Revolving Credit Facility (Nordstrom Inc), Revolving Credit Facility (Nordstrom Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Company shall pay directly to each the applicable L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of CreditCredit and each Bankers’ Acceptance issued and outstanding, at the rate per annum specified in the applicable fee letter agreed between the Company and such L/C IssuerIssuer and the Company (whether pursuant to a Fee Letter or otherwise), computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsor Bankers’ Acceptance, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit or Bankers’ Acceptance increasing the amount of such Letter of CreditCredit or Bankers’ Acceptance, at a the rate separately agreed between the Borrowers and such L/C IssuerIssuer and the Company (whether pursuant to a Fee Letter or otherwise), computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of CreditCredit issued and outstanding, at equal to the rate percentage per annum specified in the applicable fee letter agreed between the Company and such L/C Issuer, computed on Issuer and the Company (whether pursuant to a Fee Letter or otherwise) times the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsor the maximum stated amount of such Bankers’ Acceptance, as the case may be. Such fronting fee with respect to standby Letters of Credit shall be (x) due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demanddemand and (y) computed on a quarterly basis in arrears. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers Company shall pay directly to each the applicable L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit and bankers’ acceptances as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 5 contracts
Samples: Credit Agreement (Thermo Fisher Scientific Inc.), Credit Agreement (Thermo Fisher Scientific Inc.), Credit Agreement (Thermo Fisher Scientific Inc.)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the applicable L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and Credit issued by such L/C IssuerIssuer at the rate of 0.125% per annum on the face amount of each such Letter of Credit, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsarrears (any such fronting fee, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears“Fronting Fee”). Such fronting fee Fronting Fees shall be due and payable on the date that is ten Business Days after the last Business Day day of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand; provided that, notwithstanding the foregoing, except in the event that there exists any Event of Default under Section 8.01(f) when such Fronting Fee is due, the Fronting Fee shall be due but not payable until five days following receipt by Borrower of an invoice from the applicable L/C Issuer setting forth the amount payable. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.08. In addition, the Borrowers Borrower shall pay directly to each the applicable L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit or bank guarantees, as applicable, as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 5 contracts
Samples: Credit Agreement (Peabody Energy Corp), Credit Agreement (Peabody Energy Corp), Credit Agreement (Peabody Energy Corp)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit, and payable upon the issuance thereof; provided that in the case of any Letter of Credit in respect of which Cash Collateral has been provided in accordance with Section 2.16, the fronting fee for such Letter of Credit shall be calculated based on a quarterly basis in arrearsthe amount of such Letter of Credit that is not Cash Collateralized, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Company and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit and on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 5 contracts
Samples: Credit Agreement (Flir Systems Inc), Credit Agreement (Flir Systems Inc), Credit Agreement (Flir Systems Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter Fee Letter (or such other rate separately agreed between the Company Borrower and such the L/C Issuer, computed on the Dollar Equivalent amount of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on or prior to the last date that is ten (10) Business Day of Days following each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment)fiscal quarter end, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 4 contracts
Samples: Credit Agreement (Armstrong Flooring, Inc.), Credit Agreement (Armstrong Flooring, Inc.), Credit Agreement (Trecora Resources)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified separately agreed in the applicable fee letter writing between the Company Borrower and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such In the case of Bank of America in its capacity as an L/C Issuer, such fronting fee shall be due and payable on the last tenth Business Day after the end of each MarchFebruary, JuneMay, September August and December November in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand, and, in the case of each other L/C Issuer, such fronting fee shall be due and payable as agreed in writing between the Borrower and such L/C Issuer. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 4 contracts
Samples: Receivables Funding and Administration Agreement (Synnex Corp), Credit Agreement (Synnex Corp), Credit Agreement (Synnex Corp)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the applicable L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of CreditCredit issued by the applicable L/C Issuer, at the rate per annum specified in separately agreed by the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent amount of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit issued by the applicable L/C Issuer increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such the applicable L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of CreditCredit issued by the applicable L/C Issuer, at the rate per annum specified in an amount separately agreed by the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit and on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each the applicable L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 4 contracts
Samples: Credit Agreement (TreeHouse Foods, Inc.), Credit Agreement (TreeHouse Foods, Inc.), Credit Agreement (TreeHouse Foods, Inc.)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers applicable Borrower shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers applicable Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers applicable Borrower shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 4 contracts
Samples: Credit Agreement (Cantel Medical Corp), Credit Agreement (Diodes Inc /Del/), Credit Agreement (Diodes Inc /Del/)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers shall (i) Each U.S. Revolving Credit Borrower, in the case of the Letters of Credit issued for the account of a U.S. Revolving Credit Borrower, hereby jointly and severally agrees and (ii) each Foreign Borrower, in the case of the Letters of Credit issued for the account of a Foreign Borrower, hereby jointly and severally agrees, in each case, to pay directly to each the L/C Issuer for its own account account, in U.S. Dollars, a fronting fee (i) with respect to each commercial Letter of CreditCredit issued by it for the account of a U.S. Revolving Credit Borrower or a Foreign Borrower, as applicable, at the a rate per annum specified in the applicable fee letter between the Company and such L/C Issuerof 0.125%, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the U.S. Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last first Business Day of each MarchJanuary, JuneApril, September July and December October in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, (i) each U.S. Revolving Credit Borrower, in the Borrowers shall case of the Letters of Credit issued for the account of a U.S. Revolving Credit Borrower, hereby jointly and severally agrees and (ii) each Foreign Borrower, in the case of the Letters of Credit issued for the account of a Foreign Borrower, hereby jointly and severally agrees, in each case, to pay directly to each the L/C Issuer for its own account account, in U.S. Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 4 contracts
Samples: Credit Agreement (ACCO BRANDS Corp), Credit Agreement (ACCO BRANDS Corp), Credit Agreement (ACCO BRANDS Corp)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Company shall pay directly to each the applicable L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified (in the applicable fee letter between case of Bank of America) in the Company Bank of America Letter and such L/C Issuer(in the case of Xxxxx Fargo) in the Xxxxx Fargo Letter, in each case computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee (i) shall be due and payable on the last Business Day Automatic Debit Date after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand, (ii) in the case of fronting fees owing to Bank of America, may be automatically debited from a deposit account maintained by the Company with Bank of America (provided that if there are not sufficient funds in such account to pay such fronting fees, then the Company shall pay such fees in cash when due) and (iii) in the case of fronting fees owing to Xxxxx Fargo, shall be separately invoiced by Xxxxx Fargo. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.07. In addition, the Borrowers Company shall pay directly to each L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 4 contracts
Samples: Credit Agreement (Sonic Automotive Inc), Credit Agreement (Sonic Automotive Inc), Credit Agreement (Sonic Automotive Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate equal to 0.125% per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit Credit, computed on a quarterly basis in arrearsthe Dollar Equivalent of the amount of such Letter of Credit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Company and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate equal to 0.125% per annum specified in of the applicable fee letter between the Company and amount available to be drawn under such L/C IssuerLetter of Credit, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on or before the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 4 contracts
Samples: Second Amendment to Second Amended and Restated Credit Agreement (Methode Electronics Inc), Credit Agreement (Methode Electronics Inc), Credit Agreement (Methode Electronics Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the a rate per annum specified in the applicable fee letter separately agreed between the Company Borrower Representative and such the L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower Representative and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the actual daily maximum amount available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit), and payable on a quarterly basis in arrears. Such fronting fee with respect to standby Letters of Credit shall be due and payable on the last Business Day third calendar day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment)) then ending, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 4 contracts
Samples: Credit Agreement (Enpro Industries, Inc), Credit Agreement (Enpro Industries, Inc), Credit Agreement (Enpro Industries, Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at Credit and each Bankers’ Acceptance issued by the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on Issuer in the amount of 0.125% times the Dollar Equivalent of the daily maximum amount available to be drawn under such Letter of Credit on a quarterly basis (whether or not such maximum amount is then in arrears, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of effect under such Letter of Credit, at a rate separately agreed between ) or the Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the maximum stated amount of such increaseBankers’ Acceptance, and payable upon as the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, case may be. Such fronting fees shall be computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall accrue through the last day of each fiscal quarter of the Borrower and shall be due and payable on the last fifteenth (or the next Business Day after the fifteenth, if the fifteenth is not a Business Day) of each MarchJanuary, JuneApril, September July and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment)October, commencing with the first such date to occur after the issuance of such Letter of CreditCredit or Bankers’ Acceptance, as applicable, on the Letter of Credit - BA Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.10. In addition, the Borrowers Borrower shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit and bankers’ acceptances issued by it as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 4 contracts
Samples: Credit Agreement (Mueller Water Products, Inc.), Credit Agreement (Mueller Water Products, Inc.), Credit Agreement (Mueller Water Products, Inc.)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Company and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit and on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 4 contracts
Samples: Credit Agreement (Navigant Consulting Inc), Credit Agreement (Navigant Consulting Inc), Credit Agreement (Flir Systems Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers applicable Borrower shall pay directly to each the relevant L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of CreditCredit issued for the account of a Borrower or any of its Subsidiaries, at the rate per annum specified in the applicable fee letter as separately agreed between the Company relevant Borrower and such the relevant L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers relevant Borrower and such the relevant L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of CreditCredit issued for the account of a Borrower or any of its Subsidiaries, at the rate per annum specified in as separately agreed between such Borrower and the applicable fee letter between the Company and such relevant L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last Business Day of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment)December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers applicable Borrower shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on within three Business Days of demand and are nonrefundable.
Appears in 4 contracts
Samples: Revolving Credit Agreement (Hasbro Inc), Revolving Credit Agreement (Hasbro Inc), Revolving Credit Agreement (Hasbro Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each (i) Fifth Third, in its capacity as an L/C Issuer Issuer, for its own account a fronting fee (i) with respect to each commercial Letter of CreditCredit issued by it, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears, arrears and (ii) each other L/C Issuer for its own account a fronting fee with respect to any amendment of a commercial each Letter of Credit increasing the amount of such Letter of Creditissued by it, at a the rate separately per annum agreed between to by the Borrowers Borrower and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 4 contracts
Samples: Credit Agreement (DPL Inc), Credit Agreement (Dayton Power & Light Co), Credit Agreement (DPL Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Xxxxxxxxx shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerAdministrative Agent’s Fee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between Xxxxxxxxx and the Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerAdministrative Agent’s Fee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears; provided that, notwithstanding anything to the contrary in the Administrative Agent’s Fee Letter, all fronting fees on commercial Letters of Credit shall be paid as set forth above, by applying the rate specified in the Administrative Agent’s Fee Letter without any per annum adjustment and payable upon issuance or effectiveness, as applicable. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers Xxxxxxxxx shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 4 contracts
Samples: Credit Agreement (Carpenter Technology Corp), Credit Agreement (Carpenter Technology Corp), Credit Agreement (Carpenter Technology Corp)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Each Borrower shall pay directly to each the L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at the rate equal to 0.25% per annum specified in the applicable fee letter between the Company and such L/C Issuerannum, computed on the Dollar Equivalent amount of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between such Borrower and the Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate equal to 0.25% per annum specified in the applicable fee letter between the Company and such L/C Issuerannum, computed on the Dollar Equivalent of the daily aggregate face amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable quarterly in arrears on the last first Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment)December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers each Borrower shall pay directly to each the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 4 contracts
Samples: Credit Agreement (Sunrun Inc.), Credit Agreement (Sunrun Inc.), Credit Agreement (Sunrun Inc.)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the applicable L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and Credit issued by such L/C Issuer, at the rate specified in the applicable Fee Letter, computed on the Dollar Equivalent amount of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such the applicable L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each the applicable L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect, effective schedules of which will be provided to the Borrower upon its request. Such customary fees and standard costs and charges are due and payable on within 30 days of demand therefor and are nonrefundable.
Appears in 3 contracts
Samples: Credit Agreement (Helix Energy Solutions Group Inc), Credit Agreement (Helix Energy Solutions Group Inc), Credit Agreement (Helix Energy Solutions Group Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers shall Subject to the last sentence of this Section 2.03(j), the Borrower agrees to pay directly to each L/C Issuer for its own account account, in U.S. Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and Credit issued by such L/C Issuer, computed on the Dollar Equivalent Issuer equal to a rate of 0.15% per annum times the daily amount available to be drawn under such Letter of Credit (or the U.S. Dollar Equivalent thereof in the case of Canadian Dollar Letters of Credit) (the “Fronting Fee”). The Fronting Fee shall be (i) computed on a quarterly basis in arrears, and (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last first Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment)December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit L/C Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, unless otherwise agreed with the Borrowers applicable L/C Issuer, the Borrower shall pay directly to each L/C Issuer for its own account account, in U.S. Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the applicable L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable. The Fronting Fee for any Letter of Credit shall be denominated in U.S. Dollars or, if otherwise agreed in writing by the applicable L/C Issuer and the Borrower, in the same currency as the Letter of Credit to which it relates.
Appears in 3 contracts
Samples: Revolving Credit Agreement (Waste Connections, Inc.), Revolving Credit and Term Loan Agreement (Waste Connections, Inc.), Revolving Credit and Term Loan Agreement (Waste Connections, Inc.)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Parent Borrower shall pay directly to each L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter Fee Letter or in another agreement between a Borrower and the Company and such applicable L/C Issuer, computed on the Dollar Equivalent amount of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between a Borrower and the Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of CreditCredit issued at a Borrower’s request, at the rate per annum specified as provided in the applicable fee letter Fee Letter or other agreement between a Borrower and the Company and such applicable L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable quarterly in arrears on the last first Business Day after the last day of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment)December, commencing with the first such date to occur after the issuance of such Letter of Credit, and on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06Date. In addition, the Borrowers Parent Borrower shall pay directly to each L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit issued at its request as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 3 contracts
Samples: Credit Agreement (Enbridge Energy Partners Lp), Credit Agreement (Midcoast Energy Partners, L.P.), Credit Agreement (Midcoast Energy Partners, L.P.)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter Fee Letter or in another agreement between the Company Borrower and such the applicable L/C Issuer, computed on the Dollar Equivalent amount of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, Credit issued at the rate per annum specified Borrower’s request, as provided in the applicable fee letter Fee Letter or other agreement between the Company Borrower and such the applicable L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable quarterly in arrears on the last first Business Day after the last day of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment)December, commencing with the first such date to occur after the issuance of such Letter of Credit, and on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06Date. In addition, the Borrowers Borrower shall pay directly to each L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit issued at its request as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 3 contracts
Samples: Credit Agreement, Credit Agreement (Enbridge Energy Partners Lp), Credit Agreement (Enbridge Energy Partners Lp)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each L/C Issuer for its own account a fronting fee (i) with respect to each commercial Commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuerequal to one-eighth of one percent (0.125%), computed on the Dollar Equivalent amount of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof (ii) with respect to any amendment of a commercial Commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such each L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuerequal to one-eighth of one percent (0.125%), computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit and on a quarterly basis in arrears. Such fronting fee fees shall be due and payable on the last first Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment)calendar quarter, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such the Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 3 contracts
Samples: Credit Agreement (Container Store Group, Inc.), Credit Agreement (Container Store Group, Inc.), Credit Agreement (Container Store Group, Inc.)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers shall Borrower hereby agrees to pay directly to each the relevant L/C Issuer solely for its own account a fronting fee benefit, (i) with respect to each commercial in the case of Letters of Credit that are standby Letters of Credit a Letter of Credit, at the rate Credit fronting fee equal to a per annum specified in amount (calculated for the applicable fee letter actual number of days elapsed on the basis of a year consisting of 365, or when appropriate 366, days) as agreed between the Company Borrower and such L/C Issuer, computed Issuer on the Dollar Equivalent of the daily average available amount available to be drawn under each such Letter of Credit on a quarterly basis in arrearsissued, increased or extended by such L/C Issuer from and including the date issued, increased or extended to and including the date of its expiration or earlier termination, (ii) with respect to any amendment in the case of Letters of Credit that are commercial Letters of Credit a commercial Letter of Credit increasing fronting fee equal to a per annum amount (calculated for the amount actual number of such Letter days elapsed on the basis of Credita year consisting of 365, at a rate separately or when appropriate 366, days) as agreed between the Borrowers Borrower and such L/C Issuer, computed Issuer on the Dollar Equivalent daily average available amount under each such Letter of Credit issued, increased or extended by the amount such L/C Issuer from and including the date issued, increased or extended to and including the date of such increase, and payable upon the effectiveness of such amendmentits expiration or earlier termination, and (iii) a fee for each issuance, amendment or renewal of, and for each negotiation of a draft drawn under, a Letter of Credit issued, increased or extended by such L/C Issuer in the amount customarily charged by such L/C Issuer from time to time or such other amount that may be agreed to in writing from time to time by such L/C Issuer and the Borrower, provided that for purposes of this Section 2.03(j), the Dollar Equivalent of each Letter of Credit in an Alternative Currency will be deemed to be, on any day (i) during the month the Letter of Credit was issued or renewed, the Dollar Equivalent on the date of issuance or renewal of such Letter of Credit or (ii) in any month subsequent to the month of issuance or renewal, the Dollar Equivalent on the first Business Day of such subsequent month, in each case from and including the date issued to and including the date of its expiration or earlier termination. The Borrower shall pay to the Payment Agent on the fifth Business Day following receipt by the Borrower of an invoice for such fees owing with respect to the prior calendar quarter, the Letter of Credit fronting fee due with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such outstanding Letter of Credit commencing on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last Business Day of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit is issued, increased or extended and, in the case of Letters of Credit, on the Letter Revolving Credit Termination Date and, in the case of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter Term L/C Facility Letters of Credit, the amount of such Letter of Credit Term L/C Facility Term Loan Maturity Date. The Payment Agent shall be determined in accordance with Section 1.06. In addition, promptly remit to the Borrowers shall pay directly to each relevant L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, any Letter of Credit fronting fee due to such L/C Issuer relating to letters after the Payment Agent’s receipt of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundablesuch fee.
Appears in 3 contracts
Samples: Credit Agreement (Dynegy Inc /Il/), Credit Agreement (Dynegy Holdings Inc), Credit Agreement (Dynegy Inc.)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers Borrower shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 3 contracts
Samples: Credit Agreement (Northwest Pipe Co), Credit Agreement (Northwest Pipe Co), Credit Agreement (Methode Electronics Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Company shall pay directly to each L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of CreditCredit issued by such L/C Issuer, at the rate per annum specified in the Fee Letter or otherwise agreed in writing by the applicable fee letter L/C Issuer and the Company, as applicable, in each case computed on the Dollar Equivalent of the amount of such Letter of Credit and due and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit issued by such L/C Issuer increasing the amount of such Letter of Credit, at a rate separately agreed between the Company and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and due and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit issued by such L/C Issuer, at the rate per annum specified in the Fee Letter or otherwise agreed in writing by such L/C Issuer and the Company, as applicable, in each case computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers arrears and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last first (1st) Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers Company shall pay directly to each L/C Issuer for its own account respective account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 3 contracts
Samples: Credit Agreement (Celestica Inc), Credit Agreement (Celestica Inc), Credit Agreement (Celestica Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent amount of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit and on a quarterly basis in arrears. Such fronting fee for standby Letters of Credit shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any standby Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 3 contracts
Samples: Credit Agreement (StoneX Group Inc.), Credit Agreement (StoneX Group Inc.), Credit Agreement (Intl Fcstone Inc.)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter separately agreed between the Company Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the a rate per annum specified in the applicable fee letter separately agreed between the Company Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit and on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last fifth (5th) Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect, in Dollars or such Alternative Currency as shall be separately agreed. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 3 contracts
Samples: Credit Agreement (Flowserve Corp), Credit Agreement (Flowserve Corp), Credit Agreement (Flowserve Corp)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between Bank of America Fee Letter with respect to such Letters of Credit issued by Bank of America and, with respect to such Letters of Credit issued by any other L/C Issuer, at a rate determined by the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between Bank of America Fee Letter with respect to such Letters of Credit issued by Bank of America and, with respect to such Letters of Credit issued by any other L/C Issuer, at a rate determined by the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such The fronting fee referenced in clause (iii) of the immediately preceding sentence shall be due and payable on the last Business Day tenth day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit and bankers’ acceptances as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 3 contracts
Samples: Credit Agreement (Mastec Inc), Credit Agreement (Mastec Inc), Credit Agreement (Mastec Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers shall pay directly to each the applicable L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, Credit at the a rate equal to 0.125% per annum specified in the applicable fee letter between the Company and such L/C Issuerannum, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each MarchFebruary, JuneMay, September August and December November in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the later to occur of (x) sixty (60) days after the Closing Date, and (y) issuance of such Letter of Credit, and also on the Letter of Credit Expiration Date and thereafter on demand. In addition, the Borrowers hereby agree to pay to Bank of America for its own account the accrued and unpaid fronting fees owing to Bank of America as of the Closing Date with respect to the Existing Letters of Credit (the “Existing L/C Fronting Fees”). The Existing L/C Fronting Fees shall be deemed to have accrued as an Obligation hereunder and shall be due and payable on the first date upon which any other Letter of Credit fronting fee is due and payable hereunder. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers shall pay directly to each the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 3 contracts
Samples: Credit Agreement (Unifirst Corp), Credit Agreement (Unifirst Corp), Credit Agreement (Unifirst Corp)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Company and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each MarchApril, JuneJuly, September October and December January in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 3 contracts
Samples: Credit Agreement (Greif Inc), Credit Agreement (Greif Inc), Credit Agreement (Greif Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit and on a quarterly basis in arrears. Such fronting fee for standby Letters of Credit shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.10. In addition, the Borrowers shall pay directly to each the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect, in Dollars or such Alternative Currency as shall be separately agreed. Such customary fees and standard costs and charges are due and payable promptly on demand and are nonrefundable.
Appears in 3 contracts
Samples: Credit Agreement (Brady Corp), Credit Agreement (Brady Corp), Credit Agreement (Brady Corp)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the relevant L/C Issuer for its own account a fronting fee (i) in Dollars with respect to each commercial Letter of Credit equal to 0.20% per annum times the daily maximum amount available to be drawn under such Letter of Credit, at it being agreed that with respect to any Letter of Credit that, by its terms or the rate per annum specified terms of any Issuer Document related thereto, provides for one or more automatic increases in the applicable fee letter between stated amount thereof, the Company and amount of such L/C IssuerLetter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such increases, computed on whether or not such maximum stated amount is in effect at such time; provided, further, that with respect to any outstanding Letter of Credit that, by its terms or the terms of any Issuer Document related thereto, provides for one or more automatic reductions in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis after giving effect to all such reductions that have theretofore occurred and are in arrears, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, effect at the rate per annum specified in the applicable relevant time of determination. Such fronting fee letter between the Company and such L/C Issuer, shall be computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment)December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each the relevant L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, charges of such the relevant L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 3 contracts
Samples: Revolving Credit Agreement (Eog Resources Inc), Revolving Credit Agreement (Eog Resources Inc), Revolving Credit Agreement (Eog Resources Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Revolving Borrower shall pay directly to each the L/C Issuer Issuer, for its own account account, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter Fee Letter (or as otherwise agreed to in writing between the Company Revolving Borrower and such the L/C Issuer), computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears, (ii) with respect to any amendment of a commercial Letter of Credit increasing during the amount year following the due date of such Letter of Creditfronting fee, at a rate separately agreed between the Borrowers and such L/C Issuer, computed which daily amount shall be determined on the Dollar Equivalent date of the amount payment of such increasefee, and payable upon provided that if the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under in any such Letter of Credit on a quarterly basis in arrearsyear is increased or decreased during such year, the fronting fee previously paid with respect to such year shall be adjusted accordingly. Such fronting fee shall be computed on an annual basis in advance and shall be due and payable (i) on the last Business Day date of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, (ii) annually thereafter, (iii) on the Letter of Credit Expiration Date and (iv) thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Revolving Borrower shall pay directly to each the L/C Issuer Issuer, for its own account account, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 3 contracts
Samples: Credit Agreement (Carmax Inc), Credit Agreement (Carmax Inc), Credit Agreement (Carmax Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Xxxxxxx-Xxxxxx International and the Applicable Borrower shall be jointly and severally liable for, and Xxxxxxx-Xxxxxx International shall pay directly to each the L/C Issuer for its own account account, in Dollars, such Alternative Currency or such Subsidiary Currency, as the case may be, as shall be separately agreed, a fronting fee with respect to each Letter of Credit at a rate per annum equal to (iA) with respect to each commercial Letter Letters of CreditCredit issued for any Revolving Borrower, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on 0.125% times the Dollar Equivalent of the actual daily face amount available to be drawn under of such Letter of Credit on a quarterly basis in arrears, or (iiB) with respect to any amendment of a commercial Letter Letters of Credit increasing issued for the account of any Subsidiary Swingline Borrower, 0.125% times the actual daily face amount of such Letter of Credit, at a rate separately agreed between each as calculated by the Borrowers and such applicable L/C Issuer, . Such fronting fee shall be computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December December, in respect of the most recently-ended quarterly quarter period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers each Applicable Borrower shall pay directly to each the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect, in Dollars, such Alternative Currency or such Subsidiary Currency, as the case may be, as shall be separately agreed. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 3 contracts
Samples: Credit Agreement (Mettler Toledo International Inc/), Credit Agreement (Mettler Toledo International Inc/), Credit Agreement (Mettler Toledo International Inc/)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Parent Borrower shall pay directly to each the applicable L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears, (ii) with respect to or any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate and on terms separately agreed in writing between the Borrowers Parent Borrower and such the applicable L/C IssuerIssuer (including, computed on without limitation, as to the Dollar Equivalent time of the amount payment of such increase, and payable upon the effectiveness of such amendmentfee), and (iiiii) with respect to each standby Letter of Credit, at the rate per annum specified agreed upon from time to time in the applicable fee letter writing between the Company Parent Borrower and such L/C Issuer, but in each case under clause (i) or (ii), not to exceed 0.125% per annum, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee for each standby Letter of Credit shall be due and payable on the last Business Day first day of each MarchJanuary, JuneApril, September July and December October in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.9. In addition, the Borrowers Parent Borrower shall pay directly to each L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 3 contracts
Samples: Credit Agreement (Nabors Industries LTD), Credit Agreement (Parker Drilling Co /De/), Credit Agreement (Parker Drilling Co /De/)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the Dollar Equivalent of the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 3 contracts
Samples: Credit Agreement (Coeur Mining, Inc.), Credit Agreement (Coeur Mining, Inc.), Credit Agreement (Coeur Mining, Inc.)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each L/C Issuer for its own account account, in Dollars, a fronting fee with respect to each Letter of Credit issued by such L/C Issuer, at the rate per annum (i) with respect to each commercial any Letter of CreditCredit issued by Bank of America in its capacity as a L/C/ Issuer, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsAdministrative Agent Fee Letter, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at issued by JPMorgan in its capacity as a rate separately agreed between the Borrowers and such L/C C/ Issuer, computed on specified in the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, JPM Fee Letter and (iii) with respect to each standby Letter of Creditany other L/C Issuer, at the rate per annum specified in the applicable fee letter between the Company and as separately agreed to by such L/C IssuerIssuer and the Borrower, in each case, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit issued by it as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 3 contracts
Samples: Credit Agreement (WHITEWAVE FOODS Co), Credit Agreement (WHITEWAVE FOODS Co), Credit Agreement (Dean Foods Co)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the a rate per annum specified in the applicable fee letter separately agreed between the Company Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Company and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the a rate per annum specified in the applicable fee letter separately agreed between the Company Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 3 contracts
Samples: Credit Agreement (FTD Companies, Inc.), Credit Agreement (FTD Companies, Inc.), Credit Agreement (United Online Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Cxxxxxxxx shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerBank of America Fee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between Cxxxxxxxx and the Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerBank of America Fee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears; provided that, notwithstanding anything to the contrary in the Bank of America Fee Letter, all fronting fees on commercial Letters of Credit shall be paid as set forth above, by applying the rate specified in the Bank of America Fee Letter without any per annum adjustment and payable upon issuance or effectiveness, as applicable. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers Cxxxxxxxx shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 3 contracts
Samples: Credit Agreement (Carpenter Technology Corp), Credit Agreement (Carpenter Technology Corp), Credit Agreement (Carpenter Technology Corp)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers shall pay directly to each the Administrative Agent, for the account of the L/C Issuer for its own account Issuer, a fronting fee (i) with respect to each commercial Commercial Letter of Credit, at the a rate equal to 0.125 per annum specified in the applicable fee letter between the Company and such L/C Issuercent per annum, computed on the Dollar Equivalent amount of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Lead Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Standby Letter of Credit, at the a rate equal to 0.125 percent per annum specified in the applicable fee letter between the Company and such L/C Issuerannum, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit and on a quarterly basis in arrears. Such fronting fee fees described in clause (iii) of the preceding sentence shall be due and payable on the last Business Day first day of each March, June, September and December in respect of the most recently-ended quarterly period month (or portion thereofif such day is not a Business Day, in on the case of the first paymentnext succeeding Business Day), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such the Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers shall pay directly to each the Administrative Agent, for the account of the L/C Issuer for its own account Issuer, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (A.C. Moore Arts & Crafts, Inc.), Credit Agreement (A.C. Moore Arts & Crafts, Inc.)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to (i) each L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of CreditCredit issued by it, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears, arrears and (ii) each other L/C Issuer for its own account a fronting fee with respect to any amendment of a commercial each Letter of Credit increasing the amount of such Letter of Creditissued by it, at a the rate separately per annum agreed between to by the Borrowers Borrower and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last Business Day of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (Dayton Power & Light Co), Credit Agreement (Dayton Power & Light Co)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers In the event there is more than one (1) Lender under this Agreement, the Borrower shall pay directly to each the L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in by the applicable fee letter between the Company and such L/C IssuerIssuer from time to time, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears; provided, (ii) the Borrower shall continue to pay any such fronting fee implemented in accordance with respect the foregoing in the event, subsequent to any amendment of a commercial Letter of Credit increasing the amount issuance of such Letter of Credit, at a rate separately agreed between there is only one (1) Lender under this Agreement to the Borrowers and such L/C Issuer, computed on the Dollar Equivalent extent reasonably necessary in light of the amount of such increase, facts and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearscircumstances then applicable. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (Gas Natural Inc.), Credit Agreement (Gas Natural Inc.)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Company and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of CreditCredit issued by (A) Bank of America in its capacity as an L/C Issuer, at the rate per annum specified in the applicable fee letter Fee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears and (B) any other L/C Issuer, at a rate separately agreed between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (Fresh Del Monte Produce Inc), Credit Agreement (Fresh Del Monte Produce Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the applicable L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at a rate separately agreed between the rate per annum specified in Borrower and the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent amount of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such the applicable L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at either the rate per annum specified in the applicable fee letter Fee Letter or at a rate separately agreed between the Company Borrower and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (Polypore International, Inc.), Credit Agreement (Polypore International, Inc.)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers US Borrower shall pay directly to each the applicable L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate 0.125% per annum specified in the applicable fee letter between the Company and such L/C Issuerannum, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers US Borrower and such the applicable L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate 0.125% per annum specified in the applicable fee letter between the Company and such L/C Issuerannum, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last first Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers US Borrower shall pay directly to each the applicable L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (Schnitzer Steel Industries Inc), Credit Agreement (Schnitzer Steel Industries Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee equal to (i) with respect to each commercial Letter of Credit, at the rate per annum specified in agreed from time to time between the applicable fee letter between the Company and such L/C IssuerIssuer and the Company, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Company and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in agreed from time to time between the applicable fee letter between the Company and such L/C IssuerIssuer and the Company, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each MarchApril, JuneJuly, September October and December January in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (Greif Inc), Credit Agreement (Greif Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each (i) Bank of America, in its capacity as an L/C Issuer Issuer, for its own account a fronting fee (i) with respect to each commercial Letter of CreditCredit issued by it, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears, arrears and (ii) each other L/C Issuer for its own account a fronting fee with respect to any amendment of a commercial each Letter of Credit increasing the amount of such Letter of Creditissued by it, at a the rate separately per annum agreed between to by the Borrowers Borrower and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (DPL Inc), Credit Agreement (Dayton Power & Light Co)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of CreditCredit issued by (A) Bank of America in its capacity as an L/C Issuer, at the rate per annum specified in the applicable fee letter Fee Letter, computed on the Dollar Equivalent of the amount of such Letter of Credit, and payable upon the issuance thereof, or (B) any other L/C Issuer, at a rate separately agreed between the Company Borrower and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of CreditCredit issued by (A) Bank of America in its capacity as an L/C Issuer, at the rate per annum specified in the applicable fee letter Fee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears and (B) any other L/C Issuer, at a rate separately agreed between the Company Borrower and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last first Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers Borrower shall pay directly to each L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (Clarcor Inc.), Credit Agreement (Clarcor Inc.)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each (i) US Bank, in its capacity as an L/C Issuer Issuer, for its own account a fronting fee (i) with respect to each commercial Letter of CreditCredit issued by it, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears, arrears and (ii) each other L/C Issuer for its own account a fronting fee with respect to any amendment of a commercial each Letter of Credit increasing the amount of such Letter of Creditissued by it, at a the rate separately per annum agreed between to by the Borrowers Borrower and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last first Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (DPL Inc), Credit Agreement (DPL Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrowers, jointly and severally, shall pay directly to each L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of CreditCredit issued by (A) Bank of America in its capacity as an L/C Issuer, at the rate per annum specified in the applicable fee letter Fee Letter, computed on the Dollar Equivalent of the amount of such Letter of Credit, and payable upon the issuance thereof, or (B) any other L/C Issuer, at a rate separately agreed between the Company Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of CreditCredit issued by (A) Bank of America in its capacity as an L/C Issuer, at the rate per annum specified in the applicable fee letter Fee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears and (B) any other L/C Issuer, at a rate separately agreed between the Company Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last first Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers shall pay directly to each L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (Clarcor Inc.), Credit Agreement (Clarcor Inc.)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee equal to (i) with respect to each commercial Letter of Credit, at the rate per annum specified in agreed from time to time between the applicable fee letter between the Company and such L/C IssuerIssuer and the Company, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Company and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in agreed from time to time between the applicable fee letter between the Company and such L/C IssuerIssuer and the Company, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each MarchApril, JuneJuly, September October and December January in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Facility Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (Greif, Inc), Credit Agreement (Greif Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of CreditCredit and each Bankers’ Acceptance, at the rate per annum specified in the applicable fee letter separately agreed between the Company Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsor Bankers’ Acceptance, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter separately agreed between the Company Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee with respect to standby Letters of Credit shall be (x) due and payable on the last Business Day of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment)December, commencing with the first such date to occur after the issuance of such Letter of CreditCredit or Bankers’ Acceptance, as applicable, on the Letter of Credit Expiration Date Credit-BA Deadline and thereafter on demanddemand and (y) computed on a quarterly basis in arrears. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers Borrower shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit and bankers’ acceptances as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (SunEdison Semiconductor LTD), Credit Agreement (SunEdison Semiconductor LTD)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter separately agreed between the Company Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the a rate per annum specified in the applicable fee letter separately agreed between the Company Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit and on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last fifth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect, in Dollars or such Alternative Currency as shall be separately agreed. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (Flowserve Corp), Credit Agreement (Flowserve Corp)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between Fee Letter among the Company Borrower, the Administrative Agent, and such L/C IssuerBAS, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendmentissuance thereof, and (iiiii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between Fee Letter among the Company Borrower, the Administrative Agent, and such L/C IssuerBAS, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee with respect to standby Letters of Credit shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect, effective schedules of which will be provided to the Borrower upon its request. Such customary fees and standard costs and charges are due and payable quarterly in arrears on demand the first Business Day after the end of each March, June, September and December and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (Paa Natural Gas Storage Lp), Credit Agreement (Paa Natural Gas Storage Lp)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers US Borrower or the European Borrower, as applicable, shall pay directly to each the L/C Issuer Issuer, for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent amount of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers applicable Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers US Borrower or the European Borrower, as applicable, shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (Colfax CORP), Credit Agreement (Colfax CORP)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each (i) any L/C Issuer Issuer, in its capacity as an L/C Issuer, for its own account a fronting fee (i) with respect to each commercial Letter of CreditCredit issued by it, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears, arrears and (ii) each other L/C Issuer for its own account a fronting fee with respect to any amendment of a commercial each Letter of Credit increasing the amount of such Letter of Creditissued by it, at a the rate separately per annum agreed between to by the Borrowers Borrower and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last first Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (Dayton Power & Light Co), Credit Agreement (Dayton Power & Light Co)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Company shall pay directly to each the applicable L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Company and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of CreditCredit issued by (A) Bank of America in its capacity as an L/C Issuer, at the rate per annum specified in the applicable fee letter Fee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears and (B) any other L/C Issuer, at a rate separately agreed between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers Company shall pay directly to each the applicable L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (Fresh Del Monte Produce Inc), Credit Agreement (Fresh Del Monte Produce Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the applicable L/C Issuer for its own account a fronting fee (i) with respect to each commercial or documentary Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and Credit issued by such L/C Issuer, at the rate specified in the applicable Fee Letter, computed on the Dollar Equivalent amount of the daily amount available to be drawn under such Letter of Credit, and payable upon the issuance thereof, and with respect to each commercial or documentary Letter of Credit on a quarterly basis in arrearsas to which any other Lender is the L/C Issuer, at the rate mutually agreed by the Borrower and such Lender, (ii) with respect to any amendment of a commercial or documentary Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such applicable L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of CreditCredit issued by such L/C Issuer, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears, and with respect to each standby Letter of Credit as to which any other Lender is the L/C Issuer, at the rate mutually agreed by the Borrower and such Lender. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of 75911819_12 the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each the applicable L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (Ross Stores Inc), Credit Agreement (Ross Stores Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers US Borrower or the European Borrower, as applicable, shall pay directly to each the L/C Issuer Issuer, for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the a rate per annum specified in separately agreed between the applicable fee letter between Borrower and the Company and such L/C Issuer, computed on the Dollar Equivalent amount of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers applicable Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate equal to 1/8 of 1% per annum specified in the applicable fee letter between the Company and such L/C Issuerannum, computed on the Dollar Equivalent of the daily amount available to be drawn or that may be requested to be paid or disbursed, as applicable, under such Letter of Credit on a quarterly basis in arrears, and (iv) with respect to each Bank Guarantee issued by the L/C Issuer, a fronting fee whose amount, computation and payment requirements shall be separately agreed between the applicable Borrower and the L/C Issuer. Such fronting fee shall be due and payable on the last first Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn or that may be requested to be paid or disbursed, as applicable, under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.07. In addition, the Borrowers US Borrower or the European Borrower, as applicable, shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable. Notwithstanding anything to the contrary above, the fronting fee described in this clause (j) applicable to a BOA Existing Letter of Credit shall accrue from the later of (x) January 1, 2012 and (y) the date of issuance of such BOA Existing Letter of Credit under the Existing Parent Credit Agreement.
Appears in 2 contracts
Samples: Credit Agreement (Colfax CORP), Credit Agreement (Colfax CORP)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers applicable Borrower shall pay directly to each the applicable L/C Issuer for its own account account, in Dollars or Australian Dollars, as applicable, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent amount of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.07. In addition, the Borrowers applicable Borrower shall pay directly to each the applicable L/C Issuer for its own account account, in Dollars or Australian Dollars, as applicable, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the applicable L/C Issuer relating to letters Letters of credit Credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (MULTI COLOR Corp), Credit Agreement (Multi Color Corp)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers shall Company or the applicable Designated Borrower shall, on and after the Initial Funding Date, pay directly to each L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit (other than Existing Letters of Credit), at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerJoint Fee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the actual daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the actual daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers shall Company or the applicable Designated Borrower shall, on and after the Initial Funding Date, pay directly to each L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect with respect to each Letter of Credit. The Company or applicable Subsidiary shall have paid or will pay directly to each Existing L/C Issuer for its own account a fronting fee with respect to each applicable Existing Letter of Credit in accordance with the terms agreed with such Existing L/C Issuer. In addition, the Company or applicable Subsidiary shall pay directly to each Existing L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such Existing L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (Towers Watson Delaware Inc.), Credit Agreement (Towers Watson & Co.)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerAgent Fee Letter, computed on either (i) so long as no Event of Default has occurred and is continuing, the Dollar Equivalent excess of the daily amount available to be drawn under such Letter of Credit on over the amount of any Cash Collateral provided by such Borrower with respect to such Letter of Credit as a quarterly basis in arrears, result of a Revolving Credit Lender becoming a Defaulting Lender or (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Creditotherwise, at a rate separately agreed between the Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit (irrespective of any Cash Collateral provided with respect thereto), in each case on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (Integra Lifesciences Holdings Corp), Credit Agreement (Integra Lifesciences Holdings Corp)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such (x) with respect to PNC Bank in its capacity as L/C Issuer, the Fee Letter and (y) with respect to each L/C Issuer other than PNC Bank, as set forth in a written agreement between the Borrower and such Person, computed on the Dollar Equivalent amount of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such (x) with respect to PNC Bank in its capacity as L/C Issuer, the Fee Letter and (y) with respect to each L/C Issuer other than PNC Bank, as set forth in a written agreement between the Borrower and such Person, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard out-of-pocket costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard out-of-pocket costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (Ciner Resources LP), Credit Agreement (Ciner Resources LP)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, Fee Letter computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Company and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, Fee Letter computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last Business Day of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.08. In addition, the Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (Amphenol Corp /De/), Credit Agreement (Amphenol Corp /De/)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Xxxxxxxxx shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerBank of America Fee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between Xxxxxxxxx and the Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerBank of America Fee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears; provided that, notwithstanding anything to the contrary in the Bank of America Fee Letter, all fronting fees on commercial Letters of Credit shall be paid as set forth above, by applying the rate specified in the Bank of America Fee Letter without any per annum adjustment and payable upon issuance or effectiveness, as applicable. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers Xxxxxxxxx shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.. 172003018 161402032v1
Appears in 2 contracts
Samples: Credit Agreement (Carpenter Technology Corp), Credit Agreement (Carpenter Technology Corp)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between Bank of America Fee Letter with respect to such Letters of Credit issued by Bank of America and with respect to such Letters of Credit issued by any other L/C Issuer at a rate determined by the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at the rate specified in the Bank of America Fee Letter with respect to Letters of Credit issued by Bank of America and with respect to Letters of Credit issued by any other L/C Issuer at a rate separately agreed between the Borrowers Company and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between Bank of America Fee Letter with respect to such Letters of Credit issued by Bank of America and with respect to such Letters of Credit issued by any other L/C Issuer at a rate determined by the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last Business Day tenth day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit and bankers’ acceptances as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (Mastec Inc), Credit Agreement (Mastec Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers US Borrower shall pay directly to each the applicable L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between Fee Letter (or, with respect to any L/C Issuer other than Bank of America, the Company and rates separately agreed to by such L/C IssuerIssuer and the US Borrower), computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers US Borrower and such the applicable L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between Fee Letter (or, with respect to any L/C Issuer other than Bank of America, the Company and rates separately agreed to by such L/C IssuerIssuer and the US Borrower), computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last first Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers US Borrower shall pay directly to each the applicable L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (Schnitzer Steel Industries Inc), Credit Agreement (Schnitzer Steel Industries Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the applicable L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears, (ii) with respect to or any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate and on terms separately agreed between the Borrowers Borrower and such the applicable L/C IssuerIssuer (including, computed on without limitation, as to the Dollar Equivalent time of the amount payment of such increase, and payable upon the effectiveness of such amendmentfee), and (iiiii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter agreed upon from time to time between the Company Borrower and such L/C IssuerIssuer (which in the case of Bank of America as L/C Issuer shall be the rate specified in the Fee Letter), computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee for each standby Letter of Credit shall be due and payable on the last Business Day of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers Borrower shall pay directly to each L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (Parker Drilling Co /De/), Credit Agreement (Parker Drilling Co /De/)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the a rate per annum specified in the applicable fee letter separately agreed between the Company Borrower Representative and such the L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower Representative and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the actual daily maximum amount available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit), and payable on a quarterly basis in arrears. Such fronting fee with respect to standby Letters of Credit shall be due and payable on the last Business Day third calendar day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment)) then ending, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers shall pay directly to each the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 2 contracts
Samples: Credit Agreement (Enpro Industries, Inc), Credit Agreement (Enpro Industries, Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers shall Subject to the last sentence of this Section 2.03(i), the Borrower agrees to pay directly to each L/C Issuer for its own account account, in U.S. Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and Credit issued by such L/C Issuer, computed on the Dollar Equivalent Issuer equal to a rate of 0.15% per annum times the daily amount available to be drawn under such Letter of Credit (or the U.S. Dollar Equivalent thereof in the case of Canadian Dollar Letters of Credit) (the “Fronting Fee”). The Fronting Fee shall be (i) computed on a quarterly basis in arrears, and (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last first Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment)December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit L/C Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, unless otherwise agreed with the Borrowers applicable L/C Issuer, the Borrower shall pay directly to each L/C Issuer for its own account account, in U.S. Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the applicable L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable. The Fronting Fee for any Letter of Credit shall be denominated in U.S. Dollars or, if otherwise agreed in writing by the applicable L/C Issuer and the Borrower, in the same currency as the Letter of Credit to which it relates.
Appears in 2 contracts
Samples: Revolving Credit and Term Loan Agreement (Waste Connections, Inc.), Revolving Credit and Term Loan Agreement (Waste Connections, Inc.)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers shall Borrower hereby agrees to pay directly to each the L/C Issuer solely for its own account a fronting fee benefit, (i) with respect to each commercial in the case of Revolving Letters of Credit that are standby Letters of Credit a Letter of Credit, at the rate Credit fronting fee of 15.0 basis points per annum specified in (calculated for the applicable fee letter between actual number of days elapsed on the Company and basis of a year consisting of 365, or when appropriate 366, days) on the daily average available amount under each such Revolving Letter of Credit issued, increased or extended by the L/C IssuerIssuer from and including the date issued, computed on increased or extended to and including the Dollar Equivalent date of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsits expiration or earlier termination, (ii) with respect to any amendment in the case of Revolving Letters of Credit that are commercial Letters of Credit a commercial Letter of Credit increasing fronting fee of 15.0 basis points per annum (calculated for the actual number of days elapsed on the basis of a year consisting of 365, or when appropriate 366, days) on the daily average available amount of under each such Revolving Letter of CreditCredit issued, at a rate separately agreed between increased or extended by the Borrowers and such L/C IssuerIssuer from and including the date issued, computed on increased or extended to and including the Dollar Equivalent date of the amount of such increase, and payable upon the effectiveness of such amendmentits expiration or earlier termination, and (iii) a fee for each issuance, amendment or renewal of, and for each negotiation of a draft drawn under, a Revolving Letter of Credit issued, increased or extended by such L/C Issuer in the amount customarily charged by such Issuer from time to time or such other amount that may be agreed to in writing from time to time by the L/C Issuer and the Borrower provided, however, that for purposes of this Section 2.03, the Dollar Equivalent of each Revolving Letter of Credit in an Alternative Currency will be deemed to be, on any day (i) during the month the Revolving Letter of Credit was issued or renewed, the Dollar Equivalent on the date of issuance or renewal of such Revolving Letter of Credit or (ii) in any month subsequent to the month of issuance or renewal, the Dollar Equivalent on the first Business Day of such subsequent month, in each case from and including the date issued to and including the date of its expiration or earlier termination. The Borrower shall pay to the Payment Agent on the 5th Business Day following receipt by the Borrower of an invoice for such fees owing with respect to the prior calendar month, the Letter of Credit fronting fee due with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such outstanding Revolving Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last Business Day of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case each Revolving Letter of the first payment), Credit outstanding commencing with on the first such date to occur after the issuance of such Letter of Credit, on the Revolving Letter of Credit Expiration is issued, increased or extended and on the Maturity Date and thereafter on demandin respect of the Revolving Credit Facility. For purposes of computing The Payment Agent shall promptly remit to the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers shall pay directly to each L/C Issuer for its own account any Letter of Credit fronting fee due to the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters after the Payment Agent's receipt of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundablesuch fee.
Appears in 1 contract
Samples: Credit Agreement (Dynegy Inc /Il/)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, (ii) with respect to (x) each commercial Letter of Credit issued by Bank of America, at the rate per annum specified in the Fee Letter, computed on the amount of such Letter of Credit and payable upon the issuance thereof, and (y) each Letter of Credit issued by any other L/C Issuer, at the rate per annum separately agreed between the Borrower and such L/C Issuer, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06l.06. In addition, the Borrowers Borrower shall pay directly to each the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
(d) Section 2.03 of the Credit Agreement is hereby amended by adding a new subsection (m) at the end thereof to read in its entirety as follows:
Appears in 1 contract
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Except as otherwise agreed between the Borrower and the L/C Issuer, the Borrower shall pay directly to each the L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at the rate of 0.125% per annum specified in the applicable fee letter between the Company and such L/C Issuerannum, computed on the Dollar Equivalent amount of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate of 0.125% per annum specified in the applicable fee letter between the Company and such L/C Issuerannum, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each MarchJanuary, JuneApril, September July and December October in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each the L/C Issuer for its own account the reasonable and customary issuance, presentation, amendment and other processing fees, and other reasonable and standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on within five (5) Business Days of demand therefor and are nonrefundable.
Appears in 1 contract
Samples: Credit Agreement (Brocade Communications Systems Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Company shall pay directly to each the applicable L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of CreditCredit and each Bankers’ Acceptance issued and outstanding, at the rate per annum specified in the applicable fee letter agreed between the Company and such L/C IssuerIssuer and the Company (whether pursuant to a Fee Letter or otherwise), computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsor Bankers’ Acceptance, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit or Bankers’ Acceptance increasing the amount of such Letter of CreditCredit or Bankers’ Acceptance, at a the rate separately agreed between the Borrowers and such L/C IssuerIssuer and the Company (whether pursuant to a Fee Letter or otherwise), computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of CreditCredit issued and outstanding, at equal to the rate percentage per annum specified in the applicable fee letter agreed between the Company and such L/C Issuer, computed on Issuer and the Company (whether pursuant to a Fee Letter or otherwise) times the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsor the maximum stated amount of such Bankers’ Acceptance, as the case may be. Such fronting fee with respect to standby Letters of Credit shall be (x) due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demanddemand and (y) computed on a quarterly basis in arrears. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Company shall pay directly to each the applicable L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit and bankers’ acceptances as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 1 contract
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers applicable Borrower shall pay directly to each L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of CreditCredit issued by such L/C Issuer for the account of such Borrower or its Subsidiaries, at the rate of 0.125% per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers and issued by such L/C Issuer or as separately agreed upon by the applicable Borrower and any L/C Issuer, as applicable, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the actual daily maximum amount available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit) and on a quarterly basis in arrears. Such fronting fee shall be due and payable in Dollars on the last Business Day of each March, June, September and December Payment Date in respect of the most recentlythen-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.05. In addition, the Borrowers applicable Borrower shall pay directly to each the applicable L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the applicable L/C Issuer relating to letters of credit issued to or for the account of such Borrower or its Subsidiaries as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 1 contract
Samples: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Company shall pay directly to each the applicable L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, Fee Letter computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Company and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, Fee Letter computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last Business Day of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.08. In addition, the Borrowers Company shall pay directly to each the applicable L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 1 contract
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter separately agreed between the Company Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance (or deemed issuance or replacement) thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter separately agreed between the Company Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly monthly basis in arrears. Such fronting fee with respect to standby Letters of Credit shall be (x) due and payable on the last second Business Day of each Marchmonth, June, September and December in with respect of to the fronting fee accrued during the most recently-recently ended quarterly period (or portion thereof, in the case of the first payment)preceding month, commencing with the first such date to occur after the issuance deemed reissuance of such Letter of Credit, on the Letter of Credit Expiration Date Deadline and thereafter on demanddemand and (y) computed on a monthly basis in arrears. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers Borrower shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit and bankers’ acceptances as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 1 contract
Samples: Senior Secured Debtor in Possession Credit Agreement (Sunedison, Inc.)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the thea rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letterequal to 0.125%, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers and such the L/C IssuerIssuerequal to 0.125%, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the thea rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letterequal to 0.125%, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit Credit, and payable on a quarterly basis in arrears. Such fronting fee for standby Letters of Credit shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.10. In addition, the Borrowers shall pay directly to each the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect, in Dollars or such Alternative Currency as shall be separately agreed. Such customary fees and standard costs and charges are due and payable promptly on demand and are nonrefundable.
Appears in 1 contract
Samples: Credit Agreement (Brady Corp)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers At any time there are two or more Lenders party to this Agreement, the Borrower shall pay directly to each the L/C Issuer for its own account a fronting fee fee, (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent equal to 0.125% of the daily stated amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate equal to 0.125% per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a Credit, and payable quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Maturity Date, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, regardless of the Borrowers number of Lenders then party to this Agreement, the Borrower shall pay directly to each the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit (for letters of credit of similar amounts and types) as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 1 contract
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers (i) With respect to Letters of Credit (other than Existing Letters of Credit), the Company shall pay directly to each Bank of America, in its capacity as L/C Issuer Issuer, for its own account account, in Dollars, a fronting fee (iA) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter Fee Letter between Bank of America and the Company and such L/C IssuerCompany, computed on the Dollar Equivalent amount of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (iiB) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Company and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iiiC) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. arrears Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
(ii) The Company shall pay directly to SunTrust Bank for its own account, in Dollars, (A) a fronting fee at a rate per annum mutually agreed upon by SunTrust Bank and the Company on the aggregate stated amount of each Existing Letter of Credit issued by SunTrust Bank, due and payable quarterly in arrears on the last Business Day of each calendar quarter, commencing on the first of such dates to occur after the Closing Date, and on the Maturity Date, and (B) the normal issuance, presentation, amendment and other processing fees, and other standard costs and charges, of SunTrust Bank relating to such Existing Letter of Credit as from time to time in effect, due and payable on demand therefor by SunTrust Bank.
Appears in 1 contract
Samples: Credit Agreement (Equifax Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at equal to the rate per annum specified in equal to the applicable fee letter percentage separately agreed upon between the Company Borrower and such the L/C Issuer, computed on Issuer times the Dollar Equivalent maximum stated amount of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each CHAR1\1892801v4 standby Letter of Credit, at the rate per annum specified in equal to the applicable fee letter percentage separately agreed upon between the Company Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on no later than the last tenth (10th) Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Revolving Facility Maturity Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 1 contract
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerAgency Fee Letter, computed on either (i) so long as no Event of Default has occurred and is continuing, the Dollar Equivalent excess of the daily amount available to be drawn under such Letter of Credit on over the amount of any Cash Collateral provided by such Borrower with respect to such Letter of Credit as a quarterly basis in arrears, result of a Revolving Credit Lender becoming a Defaulting Lender or (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Creditotherwise, at a rate separately agreed between the Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit (irrespective of any Cash Collateral provided with respect thereto), in each case on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 1 contract
Samples: Credit Agreement (Integra Lifesciences Holdings Corp)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (ix) with respect to each commercial Letter of CreditCredit and each Bankers' Acceptance (without duplication), at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such commercial Letter of Credit on a quarterly basis in arrearsor the maximum stated amount of such Bankers' Acceptance, as the case may be, and payable upon the issuance thereof, (iiy) with respect to any amendment of a commercial Letter of Credit or Bankers' Acceptance increasing the amount of such commercial Letter of CreditCredit or Bankers' Acceptance, at a the rate separately agreed between specified in the Borrowers and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, amendment and (iiiz) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable in Dollars on the last Business Day day of each of March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit – BA Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of CreditCredit or the maximum stated amount of any Bankers' Acceptance, the amount of such Letter of Credit or Bankers' Acceptance, as the case may be, shall be determined in accordance with Section 1.061.09. In addition, the Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit and bankers' acceptances as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 1 contract
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Each Borrower shall pay directly to each L/C Issuer for its own account account, in US Dollars, (i) a fronting fee (i) with respect to each commercial Letter of CreditCredit issued by such L/C Issuer for the account of such Borrower (or a Subsidiary of such Borrower), at the rate per annum specified in the applicable fee letter between Fee Letter, in the Company case of Letters of Credit issued by Bank of America, or the rate agreed to by the Parent and such L/C IssuerRBS, in the case of Letters of Credit issued by RBS,, computed on the US Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) a fronting fee with respect to any amendment of a commercial Letter of Credit issued by such L/C Issuer for the account of such Borrower (or a Subsidiary of such Borrower) increasing the amount of such Letter of Credit, at a rate separately agreed between such Borrower and the Borrowers and such applicable L/C Issuer, computed on the US Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) a fronting fee with respect to each standby Letter of CreditCredit issued by such L/C Issuer for the account of such Borrower (or a Subsidiary of such Borrower), at the rate per annum specified in the applicable fee letter between Fee Letter, in the Company case of Letters of Credit issued by Bank of America, or the rate agreed to by the Parent and such L/C IssuerRBS, in the case of Letters of Credit issued by RBS, computed on the US Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit and on a quarterly basis in arrears. Such fronting fee shall be due arrears and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, Credit and on the Letter of Credit Expiration Date and thereafter on demandMaturity Date. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers each Borrower shall pay directly to each the applicable L/C Issuer for its own account account, in US Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 1 contract
Samples: Credit Agreement (Brightpoint Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Company or the applicable Designated Borrower shall pay directly to each (i) JPMorgan, in its capacity as an L/C Issuer Issuer, for its own account account, a fronting fee (iA) with respect to each commercial Letter of CreditCredit issued by it, at the rate per annum specified in the applicable fee letter between the Company and such LAgent/C IssuerArranger Fee Letter, computed on the Dollar Equivalent amount of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (iiB) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Company or the Exhibit 4.1 Applicable Designated Borrower, as the case may be, and such JPMorgan, in its capacity as an L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iiiC) with respect to each standby Letter of CreditCredit issued by it, at the rate per annum specified in the applicable Agent/Arranger Fee Letter, computed on the amount of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears and (ii) each other L/C Issuer for its own account, a fronting fee letter between (A) with respect to each commercial Letter of Credit issued by it, at the rate per annum agreed to by the Company and such L/C Issuer, computed on the Dollar Equivalent amount of such Letter of Credit, and payable upon the issuance thereof, (B) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Company or the Applicable Designated Borrower, as the case may be, and such L/C Issuer, computed on the amount of such increase, and payable upon the effectiveness of such amendment, and (C) with respect to each standby Letter of Credit issued by it, at the rate per annum agreed by the Company and such L/C Issuer, computed on the amount of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee fees shall be due and payable on the last third Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.08. In addition, the Borrowers Company or the applicable Designated Borrower shall pay directly to each L/C Issuer for its own account account, the reasonable and customary issuance, presentation, amendment and other processing fees, and other standard reasonable and customary costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such reasonable and customary fees and standard fees, costs and charges are due and payable on demand promptly after request therefor. Fronting fees and are nonrefundableother fees in respect of Letters of Credit denominated in Dollars shall be paid in Dollars, and fronting fees and other fees in respect of Letters of Credit denominated in an Offshore Currency shall be paid in such Offshore Currency.
Appears in 1 contract
Samples: Credit Agreement (Stryker Corp)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Parent shall pay directly to each the applicable L/C Issuer for its own account a fronting fee (i) with respect to each Letter of Credit issued by such Issuing Lender, at a rate of 12.5 basis points per annum, computed (a) with respect to each commercial Letter of Credit on the amount of such Letter of Credit, at and payable upon the rate per annum specified in the applicable fee letter between the Company issuance thereof, and such L/C Issuer(b) with respect to each standby Letter of Credit, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears, and due and payable on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand and (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers applicable Borrower and such the applicable L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last Business Day of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Parent shall pay directly to each the applicable L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect, effective schedules of which will be provided to either Borrower upon their request. Such customary fees and standard costs and charges are due and payable on within 30 days of demand therefor and are nonrefundable.
Appears in 1 contract
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (ifee(i) with respect to each commercial Letter of CreditCredit and each Bankers' Acceptance, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerBank of America Fee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsor Bankers' Acceptance, as the case may be, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerBank of America Fee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of CreditCredit or Bankers' Acceptance, as applicable, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers Borrower shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit and bankers' acceptances as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 1 contract
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent amount of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsand for the stated duration thereof, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be , and due and payable on the last first Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment)December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
Appears in 1 contract
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent amount of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between Borrower and the Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit and on a quarterly basis in arrears; provided, however, that, notwithstanding the foregoing, such fronting fee shall be not less than $500 per annum. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December December, in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit L/C Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such individual customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
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Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Mxxxxxx-Xxxxxx International and the Applicable Borrower shall be jointly and severally liable for, and Mxxxxxx-Xxxxxx International shall pay directly to each the L/C Issuer for its own account account, in Dollars, such Alternative Currency or such Subsidiary Currency, as the case may be, as shall be separately agreed, a fronting fee with respect to each Letter of Credit at a rate per annum equal to (iA) with respect to each commercial Letter Letters of CreditCredit issued for any Revolving Borrower, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on 0.125% times the Dollar Equivalent of the actual daily face amount available to be drawn under of such Letter of Credit on a quarterly basis in arrears, or (iiB) with respect to any amendment of a commercial Letter Letters of Credit increasing issued for the account of any Subsidiary Swingline Borrower, 0.125% times the actual daily face amount of such Letter of Credit, at a rate separately agreed between each as calculated by the Borrowers and such applicable L/C Issuer, . Such fronting fee shall be computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December December, in respect of the most recently-ended quarterly quarter period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers each Applicable Borrower shall pay directly to each the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect, in Dollars, such Alternative Currency or such Subsidiary Currency, as the case may be, as shall be separately agreed. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
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Samples: Credit Agreement (Mettler Toledo International Inc/)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at Credit and each Bankers’ Acceptance issued by the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, computed on Issuer in the amount of 0.125% times the Dollar Equivalent of the daily maximum amount available to be drawn under such Letter of Credit on a quarterly basis (whether or not such maximum amount is then in arrears, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of effect under such Letter of Credit, at a rate separately agreed between ) or the Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the maximum stated amount of such increaseBankers’ Acceptance, and payable upon as the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C Issuer, case may be. Such fronting fees shall be computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall accrue through the last day of each fiscal quarter of the Borrower and shall be due and payable on the last fifteenth (or the next Business Day after the fifteenth, if the fifteenth is not a Business Day) of each MarchJanuary, JuneApril, September July and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment)October, commencing with the first such date to occur after the issuance of such Letter of CreditCredit or Bankers’ Acceptance, as applicable, on the Letter of Credit Credit—BA Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.10. In addition, the Borrowers Borrower shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit and bankers’ acceptances issued by it as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
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Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at equal to the rate per annum specified in equal to the applicable fee letter percentage separately agreed upon between the Company Borrower and such the L/C Issuer, computed on Issuer times the Dollar Equivalent maximum stated amount of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the rate per annum specified in equal to the applicable fee letter percentage separately agreed upon between the Company Borrower and such the L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on no later than the last tenth (10th) Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Revolving Facility Maturity Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Borrower shall pay directly to each the L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
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Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Borrower shall pay directly to each the L/C Issuer for its own account a fronting fee (i) with respect to each commercial Letter of Credit, at the a rate per annum specified in the applicable fee letter between the Company and such L/C Issuerequal to 0.125%, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between Borrower and the Borrowers and such L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of Credit, at the a rate per annum specified in the applicable fee letter between the Company and such L/C Issuerequal to 0.125%, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last Business Day of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment)December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.07. In addition, the Borrowers Borrower shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on within two (2) days of demand and are nonrefundable.
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Samples: Credit Agreement (RigNet, Inc.)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers With respect to Letters of Credit (including any Existing Letters of Credit), the Company shall pay directly to each Bank of America, in its capacity as L/C Issuer Issuer, for its own account account, in Dollars, a fronting fee (iA) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter Fee Letter between Bank of America and the Company and such L/C IssuerCompany, computed on the Dollar Equivalent amount of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (iiB) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Company and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iiiC) with respect to each standby Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. arrears Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. In addition, the Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
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Samples: Credit Agreement (Equifax Inc)
Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, a fronting fee (i) with respect to each commercial Letter of Credit, at the rate per annum specified in the applicable fee letter between the Company and such L/C IssuerFee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under of such Letter of Credit on a quarterly basis in arrearsCredit, and payable upon the issuance thereof, (ii) with respect to any amendment of a commercial Letter of Credit increasing the amount of such Letter of Credit, at a rate separately agreed between the Borrowers Company and such the L/C Issuer, computed on the Dollar Equivalent of the amount of such increase, and payable upon the effectiveness of such amendment, and (iii) with respect to each standby Letter of CreditCredit issued by (A) Bank of America in its capacity as an L/C Issuer, at the rate per annum specified in the applicable fee letter Fee Letter, computed on the 57 57 Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears and (B) any other L/C Issuer, at a rate separately agreed between the Company and such L/C Issuer, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears. Such fronting fee shall be due and payable on the last tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.061.09. In addition, the Borrowers Company shall pay directly to each the L/C Issuer for its own account account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.
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