Issuing Bank Fee. From and after the Agreement Date, the Borrowers agree to pay to the Administrative Agent, for the account of the applicable Issuing Bank a fee equal to 0.125% per annum (computed on the basis of a year of three hundred sixty (360) days), of the face amount of each Letter of Credit which fee shall be due and payable quarterly in arrears on the last day of each calendar quarter during which such Letter of Credit was outstanding (commencing with the calendar quarter ending June 30, 2008) and, if then unpaid, on the Maturity Date. Additionally, the Borrowers agree to pay to the Issuing Bank, for its own account, its customary fees for issuing, amending, paying, negotiating or renewing any Letter of Credit, which fees shall be due and payable on the date of each such issuance, amendment, payment, negotiation or renewal. The foregoing fees 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 any Borrower and the Issuing Bank with respect to the Letters of Credit issued hereunder, the terms of this Agreement shall control.
Appears in 1 contract
Samples: Credit Agreement (Agco Corp /De)
Issuing Bank Fee. From and after the Agreement Date, the Borrowers agree to pay to the Administrative Agent, for the account of the applicable each Issuing Bank a fee equal to 0.125% calculated at a rate per annum (computed to be agreed upon by Borrowers and such Issuing Bank on the basis of a year of three hundred sixty (360) days), of the face amount of each Letter of Credit issued by such Issuing Bank which fee shall be due and payable quarterly in arrears on the last day of each calendar quarter during which such Letter of Credit was outstanding (commencing with the calendar quarter ending June 30December 31, 20082011) and, if then unpaid, on the Maturity Date. Additionally, the Borrowers agree to pay to the each Issuing Bank, for its own account, its customary fees for issuing, amending, paying, negotiating or renewing any Letter of CreditCredit issued by such Issuing Bank, which fees shall be due and payable on the date of each such issuance, amendment, payment, negotiation or renewal. The foregoing fees 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 any Borrower and the any Issuing Bank with respect to the Letters of Credit issued hereunder, the terms of this Agreement shall control.
Appears in 1 contract
Samples: Credit Agreement (Agco Corp /De)
Issuing Bank Fee. From and after the Agreement Date, the Borrowers agree to pay to the Administrative Agent, for the account of the applicable each Issuing Bank a fee equal to 0.125% calculated at a rate per annum (computed to be agreed upon by Borrowers and such Issuing Bank on the basis of a year of three hundred sixty (360) days), of the face amount of each Letter of Credit issued by such Issuing Bank which fee shall be due and payable quarterly in arrears on the last day of each calendar quarter during which such Letter of Credit was outstanding (commencing with the first calendar quarter ending June 30, 2008after the Agreement Date) and, if then unpaid, on the Maturity Date. Additionally, the Borrowers agree to pay to the each Issuing Bank, for its own account, its customary fees for issuing, amending, paying, negotiating or renewing any Letter of CreditCredit issued by such Issuing Bank, which fees shall be due and payable on the date of each such issuance, amendment, payment, negotiation or renewal. The foregoing fees 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 any Borrower and the any Issuing Bank with respect to the Letters of Credit issued hereunder, the terms of this Agreement shall control.
Appears in 1 contract
Samples: Credit Agreement (Agco Corp /De)
Issuing Bank Fee. From and after the Agreement Date, the Borrowers agree to pay to the Administrative Agent, for the account of the applicable each Issuing Bank a fee equal to 0.125% calculated at a rate per annum (computed to be agreed upon by Borrowers and such Issuing Bank on the basis of a year of three hundred sixty (360) days), of the face amount of each Letter of Credit issued by such Issuing Bank which fee shall be due and payable quarterly in arrears on the last day of each calendar quarter during which such Letter of Credit was outstanding (commencing with the calendar quarter ending June September 30, 20082014) and, if then unpaid, on the Maturity Date. Additionally, the Borrowers agree to pay to the each Issuing Bank, for its own account, its customary fees for issuing, amending, paying, negotiating or renewing any Letter of CreditCredit issued by such Issuing Bank, which fees shall be due and payable on the date of each such issuance, amendment, payment, negotiation or renewal. The foregoing fees 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 any Borrower and the any Issuing Bank with respect to the Letters of Credit issued hereunder, the terms of this Agreement shall control.
Appears in 1 contract
Samples: Credit Agreement (Agco Corp /De)