Annual Letter of Credit Fee definition

Annual Letter of Credit Fee means with respect to the Bonds allocable to the Loan the annual non-refundable Letter of Credit fee of the Bank in the amount set forth in Appendix A.
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Annual Letter of Credit Fee shall have the meaning assigned in the Letter of Credit and Reimbursement Agreement.
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Annual Letter of Credit Fee means the annual fee, or the cumulative fee charged over one year, charged by the Letter of Credit Provider.
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Examples of Annual Letter of Credit Fee in a sentence

  • The Annual Letter of Credit Fee shall be payable by or on behalf of the Borrower in arrears on each Interest Payment Date, beginning on the date specified in Appendix A, upon receipt from the Trustee or the Program Administrator of an invoice therefor.

  • Any resulting overpayment or underpayment of the Annual Letter of Credit Fee shall be credited against or paid by the Company together with, as the case may be, the next succeeding installment of the Annual Letter of Credit Fee.

  • The amount of the installment of the Annual Letter of Credit Fee payable on any Fee Date shall be determined based on the Bank's projection of the average amount at any time by which $120,000,000 exceeds the balance of the Project Fund during the period to which such installment relates, and shall be adjusted at the end of such period based on the actual average amount of Bond Proceeds that were outstanding during such period.

  • On the Termination Date, the Annual Letter of Credit Fee shall be prorated for the period from the last Fee Date to the Termination Date, and any underpayment shall made by the Company to the Bank, or any overpayment shall be made by the Bank to the Company.

  • The aggregate of the interest payable with respect to the Loan at the Bond Fixed Rate, the Annual Agent's Fee and the Annual Letter of Credit Fee (as projected by the Bank) payable for any year during the term of the Letter of Credit shall not yield an effective rate of interest on the Loan in excess of 11% per annum.

  • All costs and expenses described in this Paragraph 14(c) shall be in addition to the facility fee paid by the Company to the Bank in connection with the transaction contemplated hereby and shall be in addition to the Annual Letter of Credit Fee and the Annual Agent's Fee.

  • The Annual Letter of Credit Fee shall be payable by the Company in advance installments, in immediately available funds, on the Initial Disbursement Date and on each February 1, May 1, August 1 and November thereafter (collectively, the FEE DATES).

  • It is the intention of the parties to this Agreement that they will endeavor to resolve any disagreement on the meaning and / or execution of this Agreement through discussions within the Coordinating Committee.


More Definitions of Annual Letter of Credit Fee

Annual Letter of Credit Fee shall have the meaning assigned thereto in the LC Agreement.
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Annual Letter of Credit Fee shall have the meaning assigned to that term in Section 8.1(a) hereof.
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Related to Annual Letter of Credit Fee

  • Letter of Credit Fee has the meaning specified in Section 2.03(h).

  • Facility Letter of Credit Fee is defined in Section 2A.8.

  • Applicable Letter of Credit Fee Rate shall mean the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Letter of Credit Fee.” Applicable Margin shall mean, as applicable:

  • Letter of Credit Fees shall have the meaning set forth in Section 3.2.

  • Applicable Letter of Credit Fee Rate means the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Letter of Credit Fee.”

  • Letter of Credit Fee Rate means, with respect to a Letter of Credit, the annual percentage per annum indicated below the reference to “Letters of Credit” in the definition of “Applicable Margin” relevant to the period in respect of which determination is being made, as adjusted pursuant to the definition of “Applicable Margin”.

  • Standby Letter of Credit Fee shall have the meaning assigned to such term in Section 3.5(b)(i).

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • Unused Letter of Credit Subfacility means an amount equal to the Letter of Credit Subfacility minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate Unpaid Drawings obligations with respect to a Letters of Credit.

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Letter of Credit Limit means $5,000,000.

  • Facility Letter of Credit means a Letter of Credit issued hereunder.

  • Letter of Credit Liability means, all reimbursement and other liabilities of Borrower or any of its Subsidiaries with respect to each Lender Letter of Credit, whether contingent or otherwise, including: (a) the amount available to be drawn or which may become available to be drawn; (b) all amounts which have been paid or made available by any Lender issuing a Lender Letter of Credit or any bank issuing a Bank Letter of Credit to the extent not reimbursed; and (c) all unpaid interest, fees and expenses related thereto.

  • Letter of Credit Undrawn Amounts means, at any time, the aggregate undrawn face amount of all Letters of Credit outstanding at such time.

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • Commitment Fee has the meaning specified in Section 2.09(a).

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • U.S. Letter of Credit means any Letter of Credit issued hereunder for the purpose of providing credit support for any U.S. Borrower, any Domestic Subsidiary or any Foreign Subsidiary.

  • Letter of Credit Obligation means, as of any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit on such date (if any Letter of Credit shall increase in amount automatically in the future, such aggregate amount available to be drawn shall currently give effect to any such future increase) plus the aggregate Reimbursement Obligations and Letter of Credit Borrowings on such date.

  • Letter of Credit Liabilities means, for any Bank and at any time, such Bank's ratable participation in the sum of (x) the amounts then owing by the Borrower in respect of amounts drawn under Letters of Credit and (y) the aggregate amount then available for drawing under all Letters of Credit.

  • Fronted Letter of Credit means a standby Letter of Credit issued by an Issuing Lender having an L/C Fronting Commitment in which each Lender purchases a risk participation pursuant to Section 3.4.

  • Revolving Letter of Credit means each letter of credit issued pursuant to Section 3.1(a)(i) (including DIP Revolving Letters of Credit deemed issued as Revolving Letters of Credit pursuant to Section 3.10).

  • Facility Fee has the meaning specified in Section 2.09(a).

  • Alternative Currency Letter of Credit means a Letter of Credit denominated in an Alternative Currency.

  • Applicable Commitment Fee Rate shall mean the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Commitment Fee.”