Security Trustee’s fee Sample Clauses
The 'Security Trustee’s fee' clause defines the payment obligations of the borrower or obligors to the security trustee for their services in managing and enforcing the security interests under a finance agreement. Typically, this clause specifies the amount, frequency, and method of payment for the trustee’s fee, and may outline circumstances under which additional fees or expenses are payable, such as in the event of enforcement actions. Its core practical function is to ensure that the security trustee is properly compensated for their role, thereby facilitating the smooth administration and protection of secured interests for the benefit of the lenders.
Security Trustee’s fee. The Borrower shall pay to the Security Trustee (for its own account) a fee in the amount and at the times agreed in a Fee Letter.
Security Trustee’s fee. The Borrower shall pay to the Security Trustee, for its own account, for each year (or part thereof), a security trustee’s fee of US $[***] ([***] United States Dollars) per annum during the period from Financial Close until all the Secured Obligations have been discharged in full, payable on Financial Close with respect to the year commencing on Financial Close and, thereafter, on each anniversary of Financial Close; provided that, such fee will not be payable by the Borrower for so long as Bank Hapoalim is the Security Trustee.
Security Trustee’s fee. The Company must pay to the Security Trustee for its own account a security trustee fee in the amount and manner agreed in the Fee Letter between the Security Trustee and the Company.