Examples of Letter of Credit Commission in a sentence

The Letter of Credit Commission shall be computed at a rate equal to one percent (1.00%) per annum on the undrawn face amount of each Letter of Credit and is payable at the time of issuance and at the time of any renewal of the term of a Letter of Credit.

More Definitions of Letter of Credit Commission

Letter of Credit Commission means the letter of credit commission described in Clause 18.1 (Letter of Credit Commission).

Letter of Credit Commission shall have the meaning assigned to that term in Section 3.3 hereof.

Letter of Credit Commission. As provided in Section 2.7(e)(i). --------------------------- -----------------

Letter of Credit Commission means a commission equal to the Applicable LC Fee Rate based on the aggregate Letter of Credit Amount.

Letter of Credit Commission means an annual commission, payable in advance by Borrower to the Bank in quarterly installments, each of which shall (a) be determined by the Bank, and billed to the Borrower, within ten (10) days prior to the end of each fiscal quarter during the term of this Agreement, by (i) multiplying the aggregate of the Face Amounts of all Letters of Credit issued hereunder and in effect or to be in effect as of the first day of the ensuing calendar quarter, by two percent (2.0%); and (ii) by dividing the product of such multiplication by four (4); (b) be due and payable on the first day of the calendar quarter to which they pertain.

Letter of Credit Commission means, for any date of determination, with respect to any outstanding Letter of Credit, a letter of credit commission on an amount equal to the stated principal amount of such outstanding Letter of Credit less any amounts drawn under such Letter of Credit, at the rate per annum equal to the Applicable Margin for LIBO Rate Advances in effect at such time.

Letter of Credit Commission shall have the meaning set forth in Section 2.10(b) hereof.