Common use of Issuing Bank Fee Clause in Contracts

Issuing Bank Fee. The Borrower shall pay to each Issuing Bank, for its own account, an issuing bank fee equal to 0.125% of the face amount of each Letter of Credit issued by such Issuing Bank hereunder, on the last Business Day of each calendar quarter for the calendar quarter then ending, for each calendar quarter in which such Letter of Credit is outstanding. The foregoing fee shall be fully earned when due and nonrefundable when paid. In the event of any inconsistency between the terms of this Agreement and the terms of any letter of credit reimbursement agreements or indemnification agreements between the Borrower and any Issuing Bank with respect to the Letters of Credit issued by such Issuing Bank hereunder, the terms of this Agreement shall control.