Standby Fees. (1) The Borrower shall pay to, in the case of the Syndicated Facility, the Agent for the account of the relevant Lenders and in the case of the Operating Facility, the Operating Lender, a standby fee in Canadian Dollars in respect of each such Credit Facility (as applicable) calculated at a rate per annum equal to the Applicable Pricing Rate on the amount, if any, by which the amount of the Outstanding Principal under the Credit Facility in question for each day in the period of determination is less than the maximum amount of each such Credit Facility on each such day. Fees determined in accordance with this Section shall accrue daily from and after the date hereof and be payable by the Borrower quarterly in arrears and on cancellation in full of a Credit Facility and on the Term Out Date applicable to such Credit Facility.
(2) As of: (a) the first day of January, April, July and October in each year, (b) the date of any cancellation in full of a Credit Facility, and (c) any Term Out Date applicable to a Credit Facility, the Agent in the case of the Syndicated Facility, and, the Operating Lender, in the case of the Operating Facility, shall determine the standby fees under this Section in respect of the applicable Credit Facilities for the period from and including the date hereof or the date of the immediately preceding determination, as the case may be, to but excluding that date of determination and shall deliver to the Borrower a written request for payment of the standby fees so determined, as detailed therein. The Borrower shall pay to, in the case of the Syndicated Facility, the Agent, for the account of the Lenders or, in the case of the Operating Facility, the Operating Lender for its own account, the standby fees referred to above: (i) on the fifth Banking Day of each calendar quarter, in the case of such a written request pursuant to clause (a) above which is received by the Borrower no later than 9:00 a.m. (Calgary time) on the second Banking Day prior to the payment date, (ii) on the second Banking Day following receipt of such a written request pursuant to clause (a) above, if not received by the aforementioned time; and (iii) on the date of cancellation or any Term Out Date applicable to a Credit Facility, in the case of clauses (b) or (c) above.
(3) For certainty, no standby fees shall be payable by the Borrower in respect of a Non-Extending Lender for any period of time after the Term Out Date applicable to such Lender.
Standby Fees. Upon the first Business Day of each Fiscal Quarter commencing after the date hereof and on the date the Credit Facility is terminated in accordance with Section 2.5, the Borrower shall pay to the Lenders, in arrears, a standby fee (a “Standby Fee”), calculated and accruing daily from and including the date hereof to but excluding the date the Credit Facility is terminated in accordance with Section 2.5 at the rate per annum, calculated on the basis of a year of 365 days, equal to the Applicable Margin on the amount of the Available Credit.
Standby Fees. (1) The Borrower shall pay to the Agent for the account of the Lenders a standby fee in United States Dollars in respect of the Credit Facility calculated at a rate per annum equal to the Applicable Pricing Rate on the amount, if any, by which the amount of the Outstanding Principal under the Credit Facility for each day in the period of determination is less than the maximum principal amount of the Credit Facility on such day. Fees determined in accordance with this Section shall accrue daily from and after the date hereof and be payable by the Borrower (a) quarterly in arrears, (b) on cancellation in full of the Credit Facility, and (c) on the Maturity Date.
(2) As of: (a) January 1, April 1, July 1 and October 1 in each year, (b) the date of any cancellation in full of the Credit Facility, and (c) the Maturity Date, the Agent shall determine the standby fees under this Section in respect of the Credit Facility for the period from and including the date hereof or the date of the immediately preceding determination, as the case may be, to but excluding that date of determination and shall deliver to the Borrower a written request for payment of the standby fees so determined, as detailed therein. The Borrower shall pay to the Agent for the account of the Lenders the standby fees referred to above within 5 Banking Days after receipt of each such written request.
Standby Fees. (1) The Borrower shall pay to the Lender a standby fee in Canadian Dollars in respect of the Credit Facility calculated at a rate per annum equal to 7.5 basis points on the amount, if any, by which the amount of the Outstanding Principal under the Credit Facility for each day in the period of determination is less than the maximum amount for each such day of the Credit Facility. Fees determined in accordance with this Section shall accrue daily from and after the date hereof and be payable by the Borrower quarterly in arrears and on cancellation in full of the Credit Facility and on the Termination Date.
(2) As of (a) the last day of March in each year, (b) the date of any cancellation in full of the Credit Facility, and (c) the Term Out Date, the Lender shall determine the standby fees under this Section in respect of the Credit Facility for the period from and including the date hereof or the date of the immediately preceding determination, as the case may be, to but excluding that date of determination and shall deliver to the Borrower a written request for payment of the standby fees so determined, as detailed therein. The Borrower shall pay to the Lender per Section
5.1 the standby fees referred to above within 10 Banking Days after receipt of each such written request.
(3) For certainty, no standby fees shall be payable by the Borrower in respect of the Credit Facility for any period of time after the Termination Date.
Standby Fees. The Borrower shall pay to the Administrative Agent for the account of and distribution to each Lender in accordance with its Applicable Percentage a standby fee for the period commencing on the Closing Date to and including the Maturity Date (or such earlier date as the Commitments shall have been terminated entirely) computed at a rate per annum equal to the Applicable Margin on the excess amount of the Commitments over the Revolving Credit Exposure. Such standby fee shall be (a) payable in arrears on each Quarterly Date, commencing on the first Quarterly Date to occur after the Closing Date, and on the date on which the Commitments terminate, and (b) computed daily on the basis of a year of 365 or 366 days, as the case may be, and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
Standby Fees. (1) The Canadian Borrower will pay to the Agent for the account of the Canadian Lenders in accordance with their Proportionate Share a standby fee in Canadian Dollars calculated at the rate per annum specified as the “Standby Fee Rate” in the table contained in the definition of “Applicable Margin” on the amount by which the daily average of the aggregate of all Advances (with Advances in US Dollars, Euros and Pound Sterling being converted to an Equivalent Amount in Canadian Dollars) outstanding under the Canadian Revolving Facility (including Advances outstanding under the Canadian Swingline Facility and the US Swingline Facility) during such Fiscal Quarter is less than the Canadian Revolver Amount. The standby fee will be determined daily beginning on the date hereof and will be calculated on the basis of a calendar year of 365 or 366 days, as the case may be, and will be payable by the Canadian Borrower quarterly in arrears on the first Business Day of each Fiscal Quarter.
(2) The US Borrower will pay to the Agent for the account of the US Lenders in accordance with their Proportionate Share a standby fee in Canadian Dollars calculated at the rate per annum specified as the applicable “Standby Fee Rate” in the table contained in the definition of “Applicable Margin” on the amount by which the daily average of the aggregate of all Advances outstanding under the US Revolving Facility during such Fiscal Quarter is less than the US Revolver Amount. The standby fee will be determined daily beginning on the date hereof and will be calculated on the basis of a calendar year of 365 or 366 days, as the case may be, and will be payable by the US Borrower quarterly in arrears on the first Business Day of each Fiscal Quarter.
Standby Fees. (a) SNC must pay to the Agent, for distribution to the Lenders pro rata to their Commitments under the Revolving Facility, a standby fee on the unused portion (expressed in Dollars) of the Revolving Facility. For purposes of the calculation of such unused portion, any Swingline Availability (other than with the Swingline Lender who is the Agent) will be deemed to be fully used;
(b) SNC must pay directly to any Swingline Lender (other than with the Swingline Lender who is the Agent), for its sole account, a standby fee on the unused portion of its Swingline Availability (expressed in Dollars);
(c) The standby fee under the Revolving Facility will be calculated daily at an annual rate equal to the Applicable Rate and any such fee accrued in any quarter will be payable in arrears no later than the 30th day of the following quarter. For greater certainty, the Commitment of any Lender who is a Swingline Lender (other than the Swingline Lender who is the Agent) will be calculated as provided in Section 2.10 for purposes of the pro rata referred to in Section 7.5(a);
(d) SNC must pay to the Agent for distribution to the Lenders pro rata to their Commitments under the Term Facility a standby fee on the amount of the Term Facility for the period commencing on June 19, 2017 and ending on the earlier of the date of the first Borrowing under the Term Facility and the date the Term Facility has terminated. Such fee will be calculated daily at an annual rate equal to 20 bps and will be payable on the last day of such period. However, no such fee will be payable if the Term Facility has terminated prior to June 19, 2017 or if the first Borrowing under the Term Facility has occurred prior to such date.
Standby Fees. Upon the first Banking Day following the completion of each Fiscal Quarter and on the termination of the Credit Facility, the Borrowers shall pay, in accordance with Section 3.6, to the Lenders, in arrears, a standby fee calculated at the rate per annum, on the basis of a year of 365 days, equal to the Applicable Rate on the Available Credit, such fee to accrue daily from the date of the execution and delivery of this agreement to and including the date of payment. Notwithstanding the foregoing, standby fees shall cease to accrue on the unfunded portion of the Individual Commitment of any Lender while it is a Defaulting Lender.
Standby Fees. The Borrower shall pay standby fees to each Lender in Canadian Dollars to the Agent on behalf of each Lender quarterly in arrears on the first Business Day of each calendar quarter in each year during the term of this Agreement commencing with the first Business Day of the calendar quarter occurring after the date hereof. Each payment of standby fees shall be calculated for the period commencing on and including the date hereof or the last date for which such standby fees were payable hereunder, as the case may be, up to and including the last day of the calendar quarter for which such standby fees are to be paid or the Term Date applicable to each Lender (as applicable and whichever is earlier) and shall be in an amount equal to the Standby Fee Rate in effect on each day during such period calculated on the amount, if any, of the difference obtained by subtracting the Borrowings outstanding from such Lender during such period from the amount of such Lender's Commitment in effect during such period. For purposes of calculating standby fees payable pursuant to this Section 5.8, the amount of Borrowings outstanding from time to time in U.S. Dollars, Euros or Pounds Sterling, as applicable, on each day during the period for which such standby fees are payable shall be notionally converted to the Equivalent Amount in Canadian Dollars at the rate of exchange in effect for purposes of determining an Equivalent Amount on the first day of each month for such month or portion thereof in the calculation period. Such standby fees shall be calculated on a daily basis and on the basis of the actual number of days elapsed in a year of three hundred sixty-five (365) days or three hundred sixty-six (366) days, as the case may be.
Standby Fees. The standby fees payable in accordance with Section 4.2(g) will be calculated daily and will be payable in Canadian Dollars quarterly in arrears on the first Banking Day of each calendar quarter for the previous quarter and otherwise in the same manner as interest on Canadian Prime Rate Loans.
