Letter of Credit Facility Fee definition

Letter of Credit Facility Fee means a quarterly fee payable by Borrower to Bank with respect to each Letter of Credit, such fee to be payable in arrears on each Quarter-End after the issuance date so long as such Letter of Credit is outstanding, and in an amount equal to the Available Amount of such Letter of Credit, multiplied by the Margin, divided by four (4).
Sample 1Sample 2
Letter of Credit Facility Fee means a per annum fee payable by the Borrowers to Bank with respect to each Letter of Credit, such fee to be payable quarterly in advance upon the issuance of such Letter of Credit and on the first day of each fiscal quarter thereafter, so long as such Letter of Credit remains outstanding, and equal to one percent (1.0%) of the Available Amount of such Letter of Credit (with the fee for any partial Quarter being prorated for the actual number of days remaining in such Quarter before the scheduled expiry of such Letter of Credit, calculated on a 365/366-day basis, as applicable). Bank acknowledges receipt of the Letter of Credit Facility Fee paid prior to the date hereof by Borrowers with respect to the Quarter ending June 30, 2009.
Sample 1Sample 2
Letter of Credit Facility Fee means a per annum fee payable by Borrower to Bank with respect to each Letter of Credit, such fee to be payable quarterly in advance upon the issuance of such Letter of Credit and on the first day of each fiscal quarter thereafter, so long as such Letter of Credit remains outstanding, and equal to one percent (1.0%) of the Available Amount of such Letter of Credit (with the fee for any partial Quarter being prorated for the actual number of days remaining in such Quarter before the scheduled expiry of such Letter of Credit, calculated on a 365/366-day basis, as applicable).
Sample 1Sample 2

Examples of Letter of Credit Facility Fee in a sentence

  • Any LC Disbursement, any Letter of Credit Facility Fee any Revolving Loan or any other amount that is not paid when due hereunder shall accrue interest from and including the due date to but excluding the date that payment is made at a rate per annum equal to the Post-Default Rate.

  • Appeal Letter of Credit Facility Fee................................................

  • The Company agrees to cause the Issuer to enter into that certain letter agreement, dated the date hereof, between the Issuer and the Letter of Credit Agent pursuant to which the Issuer shall pay to the Letter of Credit Agent, for the benefit of the Letter of Credit Banks, for the period commencing on the date hereof and continuing through to the Letter of Credit Expiration Date, certain fees (collectively, the "Letter of Credit Facility Fee").

  • Republic hereby agrees to pay to the Series 1997-1 Letter of Credit Provider a letter of credit commission (the "Letter of Credit Facility Fee"), as set forth in that certain fee letter between Republic and the Series 1997-1 Letter of Credit Provider dated as of September 24, 1997.

  • Upon the last Business Day of each month, commencing with the first such date after this Agreement is executed, and on any date the Appeal Letter of Credit is drawn and/or is returned to the Issuing Bank for cancellation, the Borrower shall pay the Agent for the benefit of the Lenders the Appeal Letter of Credit Facility Fee for the period since the later of (x) the date of issuance of the Appeal Letter of Credit or (y) the last date of payment of the Appeal Letter of Credit Facility Fee.

  • The Letter of Credit Facility Fee shall be payable quarterly in advance, on the date of issuance of the initial Letter(s) of Credit hereunder and thereafter on the last day of each March, June, September and December.


More Definitions of Letter of Credit Facility Fee

Letter of Credit Facility Fee means an annual fee payable by Borrowers to Issuing Lender with respect to each Letter of Credit, in an amount equal to (i) the Stated Amount of such Letter of Credit, multiplied by (ii) the LIBOR Margin at the time of issuance or renewal (as applicable) of such Letter of Credit (but not less than $500.00), such fee to be payable upon the issuance of such Letter of Credit and upon each anniversary date of the issuance of such Letter of Credit, so long as the same is outstanding.
Sample 1
Letter of Credit Facility Fee means the fee payable by Borrower to the Agent, for the account of the Lenders (based on each Lender's Pro Rata Share), on each Quarter-End as determined by Agent as of such Quarter-End, in an amount equal to the product of the daily average of the Available Amount of the Letters of Credit for the applicable quarter, multiplied by the Applicable Margin for LIBOR Rate Borrowings.
Sample 1
Letter of Credit Facility Fee. Section 2.5(b) "Letter of Credit Notice" Section 2.11.1(b) "Notice of Borrowing" Section 2.2(a) "Officer's Certificate" Section 3.1 "Real Property" Section 5.14 "Revolving Credit Commitment Fee" Section 2.5(a) "Reimbursement Amount" Section 2.11.3 "Register" Section 12.2(c) "Revolving Credit" Article 2 "Successor Lender" Section 12.2(a) "Supporting Schedules" Section 6.1
Sample 1
Letter of Credit Facility Fee shall have the meaning assigned to such term in Section 2.3 hereof.
Sample 1

Related to Letter of Credit Facility Fee

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank's Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

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

  • 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 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.

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

  • Letter of Credit Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

  • Letter of Credit Commitment means, with respect to any Issuing Bank at any time, the amount set forth opposite such Issuing Bank’s name on Schedule I hereto under the caption “Letter of Credit Commitment” or, if such Issuing Bank has entered into one or more Assignment and Acceptances, set forth for such Issuing Bank in the Register maintained by the Administrative Agent pursuant to Section 9.07(d) as such Issuing Bank’s “Letter of Credit Commitment”, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

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

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $10,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Letter of Credit Maturity Date the date occurring 15 days prior to the Revolving Termination Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

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

  • 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.

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

  • 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 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.

  • 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.

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

  • Letter of Credit Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

  • Letter of Credit Maximum Amount means $5,000,000; provided that, on and after the Maturity Date, the Letter of Credit Maximum Amount shall be zero.

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

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

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 200 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Delphi Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • Letter of Credit Bank means any Person who has provided a Servicer Letter of Credit pursuant to Section 4.02(b).

  • Credit Facility shall include any agreement or instrument (1) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (2) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (3) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (4) otherwise altering the terms and conditions thereof.