Common use of Payable Clause in Contracts

Payable. At the time each Standby Credit is issued or increased and at the time the expiration date of any Standby Credit is extended. Amendment Fees: (Minimum $130) $130 for each amendment, unless the amendment is an increase in the Standby Credit amount or an extension of the expiration date, in which case the Commission Fee above will substitute for any Amendment Fee. Payable: At the time each amendment is issued. Negotiation/Payment/Examination Fees: (Minimum $250) 1/4 of 1% of the face amount of each drawing under each Standby Credit.