Letter of Credit Facility Fee definition

Letter of Credit Facility Fee means an annual fee payable by Borrowers with respect to each Letter of Credit, in advance upon the issuance of such Letter of Credit and on the first day of each Year thereafter, and equal to one and one-quarter percent (1.25%) of the Available Amount of such Letter of Credit.
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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.
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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).
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Examples of Letter of Credit Facility Fee in a sentence

  • 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.

  • 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................................................


More Definitions of Letter of Credit Facility Fee

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).
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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.
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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
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Letter of Credit Facility Fee shall have the meaning assigned to such term in Section 2.3 hereof.
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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.

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

  • 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 the Issuer, the Issuer's obligation to issue Letters of Credit pursuant to Section 2.1.3 and, with respect to each of the other Lenders that has a Revolving Loan Commitment, the obligation of each such Lender to participate in such Letters of Credit pursuant to Section 2.6.1.

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

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $25,000,000, 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, at any time and in respect of all Letters of Credit, the sum of (a) the aggregate amount available to be drawn under all such Letters of Credit plus (b) the aggregate unpaid amount of all Reimbursement Obligations then due and payable in respect of previous drawings under such Letters of Credit.

  • Letter of Credit Liability means the sum of (x) aggregate amount of the undrawn stated amount of all outstanding Letters of Credit plus (y) the amount drawn under Letters of Credit for which the Letter of Credit Issuer and the Lenders, or any one or more of them, have not yet received payment or reimbursement (in the form of a conversion of such liability to Loans, or otherwise) as required pursuant to Section 2.8.

  • Facility Letter of Credit means a Letter of Credit issued by the Issuer pursuant to Section 2.2.

  • Letter of Credit Disbursement means a payment made by Issuing Lender or Underlying Issuer 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.

  • Unused Letter of Credit Subfacility means an amount equal to the Letter of Credit Subfacility minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate Unpaid Drawings obligations with respect to a Letters of Credit.