Common use of Issuing Bank Fees Clause in Contracts

Issuing Bank Fees. The Borrower hereby agrees to pay directly to each Issuing Bank, for its own account, a fronting fee which shall accrue at a rate per annum separately agreed upon between the Borrower and the applicable Issuing Bank on the average daily undrawn amount of the outstanding Letters of Credit issued by such Issuing Bank during the period from and including the Effective Date to but excluding the later of the date of termination of the Commitments and the date on which the last of such Letters of Credit expires, terminates or is drawn in full. In addition, the Borrower shall pay directly to each Issuing Bank for its own account such customary issuance, presentation, amendment and other processing fees as are specifically agreed to in a writing between the Borrower and such Issuing Bank. Such customary fees and standard costs and charges are due and payable as separately agreed and are non-refundable.

Issuing Bank Fees. The Borrower hereby agrees to pay directly to each Issuing Bank, for its own account, a fronting fee which shall accrue at a rate per annum separately agreed upon between the Borrower and the applicable Issuing Bank on the average daily undrawn amount of the outstanding Letters of Credit issued by such Issuing Bank during the period from and including the Effective Date to but excluding the later of the date of termination of the Commitments and the date on which the last of such Letters of Credit expires, terminates or is drawn in full. In addition, the Borrower shall pay directly to each Issuing Bank for its own account such customary issuance, presentation, amendment and other processing fees as are specifically agreed to in a writing between the Borrower and such Issuing Bank. Such customary fees and standard costs and charges are due and payable as separately agreed and are non-refundable.. SECTION 3.06