Credit Support Fee definition

Credit Support Fee means, for any Quarter, a reasonable fee for the provision of Net Credit Support during such Quarter in an amount determined in good faith by XXXX in its sole discretion but that shall not exceed the product of (a) the borrowing costs paid by the members of the Manager Group to provide Net Credit Support in the form of letters of credit during such Quarter under their credit facilities, expressed as a percentage of the face amount of such letters of credit, multiplied by (b) the aggregate amount of Net Credit Support outstanding during such Quarter, in each case (i) as calculated by XXXX in its sole discretion (whose calculation shall be conclusive absent manifest error) based on the weighted average amount of Net Credit Support outstanding during such Quarter, and (ii) subject to any changes to the Credit Support Fee for Net Credit Support that satisfies New Credit Support Obligations as agreed by XXXX and NEE Operating LP in accordance with Section 2.1.3. For illustrative purposes only, for the Quarter ended June 30, 2014, the percentage described in clause (a) of this definition is thirty-nine hundredths of one percent (0.39%), which percentage, for the avoidance of doubt, shall be adjusted in accordance with changes to the borrowing costs described in clause (a);

Credit Support Fee has the meaning set forth in Section 2.7(a).

Credit Support Fee has the meaning set forth in Section 4.4 of this Settlement Agreement.

Examples of Credit Support Fee in a sentence

• XPLR Operating LP, on behalf of the XPLR Group, hereby agrees to pay, during the term of this Agreement, the Credit Support Fee.

• XXXX will compute the Credit Support Fee for each Quarter as soon as practicable following the end of the quarter with respect to which such payment is due, but in any event no later than the thirtieth (30th) day of the immediately succeeding Quarter.

• As soon as practicable following delivery of the computation of the Credit Support Fee for any Quarter, but in no event later than the fifteenth (15th) day following receipt of such computation, XPLR Operating LP shall remit the corresponding payment for the corresponding Quarter to XXXX.

• The Credit Support Fee will not be reduced by the amount of (a) any fees for Operational and Other Services that are paid or payable by any member of the XPLR Group to any member of the Manager Group; (b) any Expenses or any Support Expenses; (c) any Transaction Fees; or (d) any Reimbursement Amount or return of Reserved Cash.

More Definitions of Credit Support Fee

Credit Support Fee has the meaning set forth in the Loan Summary.

Credit Support Fee means, for any day, an amount calculated as follows:

Credit Support Fee means (i) with respect to the period beginning on the Closing Date and ending on the date that is twelve (12) months following the Closing Date (the “First Credit Support Period”), an amount equal to 2% of the weighted average of the guaranteed amounts under the Seller Credit Support outstanding during the First Credit Support Period; (ii) with respect to the period beginning on the date that is twelve (12) months following the Closing Date and ending on the date that is eighteen (18) months following the Closing Date (the “Second Credit Support Period”), an amount equal to 4% of the weighted average of the guaranteed amounts under the Seller Credit Support outstanding during the Second Credit Support Period; and (iii) with respect to the period beginning on the date that is eighteen (18) months following from the Closing Date and ending on the date that is twenty-four (24) months following the Closing Date (the “Third Credit Support Period” and, together with the First Credit Support Period and the Second Credit Support Period, the “Credit Support Periods”), an amount equal to 6% of the weighted average of the guaranteed amounts under the Seller Credit Support outstanding during the Third Credit Support Period.