Common use of Letter of Credit and LC Guaranty Fees Clause in Contracts

Letter of Credit and LC Guaranty Fees. Borrower shall pay to Lender: (i) for standby Letters of Credit and LC Guaranties of standby Letters of Credit, 2.25% per annum of the aggregate face amount of such Letters of Credit and LC Guaranties outstanding from time to time during the term of this Agreement, plus all normal and customary charges associated with the issuance thereof, which fees and charges shall be deemed fully earned upon issuance of each such Letter of Credit or LC Guaranty, shall be due and payable on the first Business Day of each month and shall not be subject to rebate or proration upon the termination of this Agreement for any reason.

Appears in 1 contract

Samples: Loan and Security Agreement (Joule Inc)

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Letter of Credit and LC Guaranty Fees. Borrower shall pay to Lender: (i) Lender for standby Letters of Credit and LC Guaranties of standby Letters of Credit, 2.25% two percent (2.00 %) per annum of the aggregate face amount of such Letters of Credit and LC Guaranties outstanding from time to time during the term of this Agreement, plus all normal and customary charges associated with the issuance thereof, which fees and charges shall be deemed fully earned upon issuance of each such Letter of Credit or LC Guaranty, shall be due and payable on the first Business Day of each month and shall not be subject to rebate or proration upon the termination of this Agreement for any reason.

Appears in 1 contract

Samples: Loan and Security Agreement (Bayard Drilling Technologies Inc)

Letter of Credit and LC Guaranty Fees. Borrower shall pay to Lender: (i) Lender for standby Letters of Credit and LC Guaranties of standby Letters of Credit, 2.251.75% per annum of the aggregate face amount of such Letters of Credit and LC Guaranties outstanding from time to time during the term of this Agreement, plus all normal and customary charges associated with the issuance thereof, which fees and charges shall be deemed fully earned upon issuance of each such Letter of Credit or LC Guaranty, shall be due and payable on the first Business Day of each month and shall not be subject to rebate or proration upon the termination of this Agreement for any reason.

Appears in 1 contract

Samples: Loan and Security Agreement (Tmci Electronics Inc)

Letter of Credit and LC Guaranty Fees. Borrower Borrowers shall pay to Lender: (i) Agent for standby Letters of Credit and LC Guaranties of standby Letters of Credit, 2.25% two and one-half of one percent (2.50%) per annum of the aggregate face amount of such Letters of Credit and LC Guaranties outstanding from time to time during the term of this Agreement, plus all normal and customary charges associated with the issuance thereof, which fees and charges shall be deemed fully earned upon issuance of each such Letter of Credit or LC Guaranty, shall be due and payable on the first Business Day of each month and shall not be subject to rebate or proration upon the termination of this Agreement for any reason.

Appears in 1 contract

Samples: Loan and Security Agreement (Eagle Supply Group Inc)

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Letter of Credit and LC Guaranty Fees. Borrower shall pay to Lender: (i) Lender for standby Letters of Credit and LC Guaranties of standby Letters of Credit, 2.25% two percent (2.00%) per annum of the aggregate face amount of such Letters of Credit and LC Guaranties outstanding from time to time during the term of this Agreement, plus all normal and customary charges associated with the issuance thereof, which fees and charges shall be deemed fully earned upon issuance of each such Letter of Credit or LC Guaranty, shall be due and payable on the first Business Day of each month and shall not be subject to rebate or proration upon the termination of this Agreement for any reason.

Appears in 1 contract

Samples: Loan and Security Agreement (Bayard Drilling Technologies Inc)

Letter of Credit and LC Guaranty Fees. Borrower shall pay to Lender: (i) , for standby Letters of Credit and LC Guaranties of standby Letters of Credit, 2.252.00% per annum of the aggregate face amount of such Letters of Credit and LC Guaranties outstanding from time to time during the term of this Agreement, plus all normal and customary charges associated with the issuance issuance, negotiation, and administration thereof, which fees and charges shall be deemed fully earned upon issuance of each such Letter of Credit or LC Guaranty, shall be due and payable on the first Business Day of each month and shall not be subject to rebate or proration upon the termination of this Agreement for any reason.

Appears in 1 contract

Samples: Loan and Security Agreement (First Aviation Services Inc)

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