Commitment Fee Letter definition
Examples of Commitment Fee Letter in a sentence
Any payment of interest on any Note or any Reimbursement Obligation and any payment of any Commitment Fee, Letter of Credit Fee or other fee or payment payable by the Borrower under any Loan Document and not paid on the date when due and payable shall bear interest, to the extent permitted by law, at the Alternate Base Rate plus the Applicable Margin for ABR Loans plus 2% per annum from the due date thereof until the date such payment is made.
The Borrower hereby irrevocably authorizes the Agent to debit any deposit account of the Borrower with the Agent in such amounts as may be necessary with respect to any interest, Commitment Fee, Letter of Credit Participation Fee, facility fee, wire transfer fee or other fee, or any other cost or expense (including Attorney Costs) due and payable to the Agent, for itself or for the benefit of the Lenders, under the Loan Documents.
In addition to the above-mentioned policies, TAQA has established other Ethics & Compliance Policies and Business Partner Code of Conduct.
All payments and prepayments to be made in respect of principal, interest, Commitment Fee, Letter of Credit Fees, Agent's Fee or other fees or amounts due from the Borrower hereunder shall be payable prior to 11:00 a.m., Pittsburgh time, on the date when due without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived by the Borrower, and without set-off, counterclaim or other deduction of any nature, and an action therefor shall immediately accrue.
In the event any Reference Rating shall occur in a different Level than the other applicable Reference Rating, the Commitment Fee, Letter of Credit Fees, and Applicable Margin will be based upon the higher Reference Rating unless the Reference Ratings differ by more than one Level, in which case the Commitment Fee, Letter of Credit Fees and Applicable Margin will be based upon the Level one level below the Level corresponding to the higher Reference Rating.