Credit Fee definition

Credit Fee has the meaning given to such term in Section 3.2. “Dispute” has the meaning given to such term in Section 5.1(a). “LG&E” has the meaning given to such term in the preamble.

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Credit Fee means one percent (1%) per annum on the face amount of each Credit; provided, however, that the minimum fee per Credit shall not be less than $500.00; provided, further, that all Credit Fees shall be due and payable at the time of the issuance of each Credit and shall be fully earned and non- refundable when paid.

Credit Fee shall have the meaning specified in Section 12(b)(i) of this Guaranty Agreement.

Examples of Credit Fee in a sentence

• The Letter of Credit Fee shall be computed on the basis of a 360-day year for the actual number of days elapsed.

• The Letter of Credit Fee shall be payable monthly in arrears on the first day of each month following any month in which a Letter of Credit is outstanding and on the Termination Date.

• The Letter of Credit Fee shall be payable quarterly in arrears on the 15th day following the last day of each calendar quarter for the prior calendar quarter.

• The Issuing Lender shall promptly pay over to the Administrative Agent for the ratable benefit of the Lenders (including the Issuing Lender) the Letter of Credit Fee.

• The Letter of Credit Fee shall be payable quarterly in arrears on the last Business Day of each calendar quarter.

• The Letter of Credit Fee will be payable quarterly in arrears on the last Business Day of each March, June, September and December for the immediately preceding quarter (or a portion thereof).

• The Standby Letter of Credit Fee will be payable quarterly in arrears on the last Business Day of each March, June, September and December for the immediately preceding quarter (or a portion thereof).

• The Letter of Credit Fee shall accrue from and including the Effective Date to but excluding the last day of the Availability Period on the aggregate amount available for drawing under any Letters of Credit outstanding on such day and shall be payable for the account of the Lenders ratably in proportion to their participations in such Letter(s) of Credit.

• The Trade Letter of Credit Fee will be payable on each date of drawing under a trade Letter of Credit.

• The Borrower shall pay to the Administrative Agent a fee (the “Letter of Credit Fee”) for each day at a rate per annum equal to the Applicable Percentage for the Letter of Credit Fee for such day.

More Definitions of Credit Fee

Credit Fee shall have the meaning ascribed to it in Section 3.10 hereof.

Credit Fee shall have the meaning specified in paragraph 5O.

Credit Fee means the fee payable to the credit seller per credit in a Credit Sale Transaction.