Common use of Standby Fees Clause in Contracts

Standby Fees. The Borrower shall pay standby fees to the Agent in Cdn. Dollars on behalf of each Lender at the Agent’s Account for Payments 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 Effective Date. Each payment of standby fees shall be calculated for the period commencing on and including the date hereof or the last date on 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 Maturity Date, as the case may be, and shall be in an amount equal to the Margin 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. 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. For purposes of calculating standby fees payable pursuant to this Section 5.7, the amount of Borrowings outstanding from time to time in U.S. Dollars on each day during the period for which such standby fees are payable shall be notionally converted to the Equivalent Amount in Cdn. Dollars at the rate of exchange in effect for purposes of determining an Equivalent Amount on such day.

Standby Fees. The Borrower shall pay standby fees to the Agent in Cdn. Dollars on behalf of each Lender at the Agent’s 's Account for Payments 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 Effective Date. Each payment of standby fees shall be calculated for the period commencing on and including the date hereof or the last date on 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 Maturity Date, as the case may be, and shall be in an amount equal to the Margin 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 's Commitment in effect during such 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. For purposes of calculating standby fees payable pursuant to this Section 5.7, the amount of Borrowings outstanding from time to time in U.S. Dollars on each day during the period for which such standby fees are payable shall be notionally converted to the Equivalent Amount in Cdn. Dollars at the rate of exchange in effect for purposes of determining an Equivalent Amount on such day.

Standby Fees. The Borrower shall pay standby fees to each Lender in Canadian Dollars to the Agent in Cdn. Dollars on behalf of each Lender at the Agent’s Account for Payments 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 Effective Datedate hereof. Each payment of standby fees shall be calculated for the period commencing on and including the date hereof or the last date on 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 Maturity Date, Term Date applicable to each Lender (as the case may be, applicable and whichever is earlier) and shall be in an amount equal to the Margin 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 '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. For purposes of calculating standby fees payable pursuant to this Section 5.7, as the amount of Borrowings outstanding from time to time in U.S. Dollars on each day during the period for which such standby fees are payable shall be notionally converted to the Equivalent Amount in Cdn. Dollars at the rate of exchange in effect for purposes of determining an Equivalent Amount on such daycase may be.

Standby Fees. The Prior to the Maturity Date of each Lender, the Borrower shall pay standby fees to the Agent in Cdn. Dollars on behalf of each such Lender at the Agent’s Account for Payments standby fees in U.S. Dollars payable quarterly in arrears on the first Business Day of each calendar quarter in each year during and on the term of this Agreement commencing with the first Business Day of the calendar quarter occurring after the Effective applicable Maturity Date. Each payment of standby fees shall be calculated for the period commencing on and including the date hereof first day of the immediately prior calendar quarter (or the last date on which such standby fees were payable hereunderof this Agreement, as the case may be), up to and including the last day of the such immediately prior calendar quarter for which or such standby fees are to be paid or the Maturity Date, as the case may beapplicable, and shall be in an amount equal to the Margin Standby Fee Rate from time to time in effect during such calendar quarter or other period and shall be calculated on the amount, if any, of the difference obtained by subtracting the Borrowings outstanding from such each Lender during such period from the amount of such Lender’s Commitment in effect during such 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. For purposes of calculating standby fees payable pursuant to this Section 5.75.10, the amount of the Borrowings outstanding from time to time in U.S. Cdn. Dollars on each day during the period for which such standby fees are payable shall be notionally converted to the Equivalent Amount in Cdn. U.S. Dollars at the rate of exchange in effect for purposes of determining an Equivalent Amount on such day.