Common use of Letter of Credit Fronting Fee Clause in Contracts

Letter of Credit Fronting Fee. In addition to the Letter of Credit Fees provided above, the Borrowers shall pay to the Issuing Lender for its own account (without sharing with the Lenders) a letter of credit fronting fee of one-fourth of one percent (0.25%), payable in arrears as of the first day of each succeeding calendar month, of the average daily maximum amount available to be drawn under each Letter of Credit computed at a per annum rate for each day from the date of issuance to the date of expiration thereof, negotiation fees agreed to by the Borrowers and the Issuing Lender from time to time, the customary charges from time to time of the Issuing Lender with respect to the issuance, amendment, transfer, administration, cancellation and conversion of, and drawings under, such Letters of Credit and in the case of documentary Letters of Credit, the Issuing Lender’s customary processing fees.

Letter of Credit Fronting Fee. In addition to the Letter letter of Credit Fees credit fees provided above, the Borrowers shall pay to the Issuing Lender for its own account (without sharing with the Lenders) a letter of credit fronting fee of one-fourth of one percent (0.25%), payable in arrears as of the first day of each succeeding calendar month, of the average daily maximum amount available to be drawn under each Letter of Credit computed at a per annum rate for each day from the date of issuance to the date of expiration thereof, negotiation fees agreed to by the Borrowers and the Issuing Lender from time to time, the customary charges from time to time of the Issuing Lender with respect to the issuance, amendment, transfer, administration, cancellation and conversion of, and drawings under, such Letters of Credit and in the case of documentary Letters of Credit, the Issuing Lender’s customary processing fees.