Letter of Credit Commission. (a) The relevant Borrower shall, in respect of each Letter of Credit, pay to the Agent (for the account of each Lender) (for distribution in proportion to each Lender's L/C Proportion of that Letter of Credit) a letter of credit commission at the L/C Commission Rate on the maximum actual and contingent liabilities of the Fronting Bank under the relevant Letter of Credit.
(b) The letter of credit commission shall be paid in advance in respect of each successive period of three Months (or such shorter period as shall end on the relevant Expiry Date) which begins during the Term of the relevant Letter of Credit, the first payment to be made on the Utilisation Date for that Letter of Credit and after that on the first day of each such period.
Letter of Credit Commission. The Borrower agrees to pay to the Agent a letter of credit commission with respect to (x) each Revolving Letter of Credit issued at its request or for its account, computed for each day from and including the date of issuance of such Revolving Letter of Credit through and including the last day a Revolving L/C Drawing is available under such Revolving Letter of Credit (the “Revolving Letter of Credit Termination Date”), at the Revolving Letter of Credit Commission Rate on the aggregate amount available for drawing under such Revolving Letter of Credit from time to time (whether or not any conditions to drawing can then be met), such fee to be for the account of the Revolving Credit Loan Banks then ratably in proportion to their Total Exposures and (y) each Green Revolving Letter of Credit issued at its request or for its account, computed for each day from and including the date of issuance of such Green Revolving Letter of Credit through and including the last day a Green Revolving L/C Drawing is available under such Revolving Letter of Credit (the “Green Revolving Letter of Credit Termination Date”), at the Green Revolving Letter of Credit Commission Rate on the aggregate amount available for drawing under such Green Revolving Letter of Credit from time to time (whether or not any conditions to drawing can then be met), such fee to be for the account of the Green Revolving Credit Loan Banks then ratably in proportion to their Green Total Exposures; provided, however, any such fees payable for the account of a Defaulting Bank for any period during which such bank is a Defaulting Bank and has not provided cash collateral satisfactory to the Fronting Banks with respect to such Defaulting Bank’s obligations under Section 2.03(g), shall be payable, to the maximum extent permitted by applicable law, to the other Banks in accordance with the upward adjustments in their respective pro rata shares allocable to such Letter of Credit pursuant to Section 2.03(g)(iv), with the balance of such fee, if any, payable to the relevant Fronting Banks pro rata for their own accounts. Such fee shall be payable quarterly in arrears (A) on the later of (x) each March 31, June 30, September 30 and December 31 and (y) the date that is three Domestic Business Days after receipt by the Borrower of the invoice relating to such date for the fee payable on such date and (B) upon the Revolving Credit Loan Termination Date or the Green Revolving Credit Loan Termination Date, as applicab...
Letter of Credit Commission. The Borrowers shall pay to the Administrative Agent, for the account of the Lenders, in accordance with their respective Revolving Credit Commitment Percentages, a letter of credit commission with respect to each Letter of Credit in an amount equal to the Applicable Margin with respect to LIBOR Rate Loans for the Revolving Credit Facility (determined on a per annum basis) multiplied by the average daily amount of such Lender’s L/C Obligations during the period from and including the date of the issuance of such Letter of Credit to but excluding the date on which such Letter of Credit has expired or is terminated. Such commission shall be payable monthly in arrears on the last Business Day of each calendar month and on the Revolving Credit Maturity Date and thereafter on demand of the Administrative Agent. The Administrative Agent shall, promptly following its receipt thereof, distribute to the Lenders all commissions received pursuant to this Section 3.3(a) in accordance with their respective Revolving Credit Commitment Percentages.
Letter of Credit Commission. The Borrower shall pay to the Agent on account of each Lender, in respect of each Letter of Credit issued under this Agreement, a letter of credit commission on the Outstandings in dollars at the Letter of Credit Commission Rate, such letter of credit commission to be paid quarterly in advance in respect of each successive period of three months ending on 31 March, 30 June, 30 September and 31 December of year (or such shorter period as shall end on the applicable Expiry Date or the date on which a cancellation of that Letter of Credit becomes effective) starting on the Commencement Date for such Letter of Credit and to be paid within five Business Days of the Agent notifying the Borrower of the amount of the letter of credit commission for the relevant period.
Letter of Credit Commission. The Borrower shall pay to the Administrative Agent, for the account of the Issuing Lender and the L/C Participants, a letter of credit commission with respect to each Letter of Credit in an amount equal to the face amount of such Letter of Credit, as applicable, multiplied by the Applicable Margin with respect to LIBOR Rate Loans for the Revolving Credit Facility (determined on a per annum basis). Such commission shall be payable quarterly in arrears on the last Business Day of each calendar quarter and on the Revolving Credit Maturity Date. The Administrative Agent shall, promptly following its receipt thereof, distribute to the Issuing Lender and the L/C Participants all commissions received pursuant to this Section 3.3(a) in accordance with their respective Revolving Credit Commitment Percentages.
Letter of Credit Commission. The Borrower shall, in respect of each Letter of Credit requested by it, pay to the Agent for the account of each Lender (for distribution in proportion to each Lender’s Proportion of such Letter of Credit) a letter of credit commission in the currency in which the relevant Letter of Credit is denominated, at the relevant L/C Commission Rate on the aggregate Commitments of the Lenders under such Letter of Credit. Such letter of credit commission shall be calculated on a daily basis according to the Commitments on each such day, and shall be paid in arrear in respect of each successive period of three months (or such shorter period as shall end on the relevant Expiry Date) during the Term of the relevant Letter of Credit, the first such payment to be made on the date falling three Months after the Utilisation Date for such Letter of Credit and successive payments to be made thereafter on the last day of each successive such period (each an “Interest Payment Date”).
Letter of Credit Commission. The commission payable with respect to the issuance of such Letter of Credit, in the amount provided for in Section 2.7(b) hereof.
Letter of Credit Commission. The Borrower agrees to pay to the Agent for the account of each Lender a Letter of Credit commission with respect to each Letter of Credit, computed for each day from and including the date of issuance of such Letter of Credit until the last day a drawing is available under such Letter of Credit, at a rate per annum equal to the Applicable Interest Rate Margin in effect from time to time on the undrawn amount of such Letter of Credit on such day. Such commission shall be payable quarterly in arrears on the last Business Day of each March, June, September and December during the term of each Letter of Credit, and on the Termination Date, provided that any Letter of Credit commissions accruing after the Termination Date shall be payable on demand.
Letter of Credit Commission. 1.1 The Account Party shall, in respect of each Letter of Credit requested by it, pay to the Agent for the account of each Bank (for distribution in proportion to each Bank's L/C Proportion of such Letter of Credit) a letter of credit commission in sterling at the L/C Commission Rate on the maximum actual and contingent liabilities of the Banks under the relevant Letter of Credit. Such Letter of Credit Commission shall be paid quarterly in arrear in respect of each successive period of three months (or such shorter period as shall end on the relevant Expiry Date) which begins during the Term of the relevant Letter of Credit, commencing from the Effective Date of such Letter of Credit, and payable on the first day of each such period thereafter.
Letter of Credit Commission. The Indemnifier shall pay to the Issuers pro rata a letter of credit commission at the rate of one per centum (1.0%) per annum on the maximum amount of the Commitment from time to time except that the rate shall be reduced to nought point two per centum (0.2%) per annum on any amount of the Commitment from time to time covered by cash pursuant to Clause 6.4 and/or Clause 9.17.1. The letter of credit commission will accrue from the Issue Date from day to day and shall be paid quarterly in arrears with a first payment on the date which is three (3) months after the Issue Date and a final pro rata payment on the last day of the Facility Period.
