Letter of Credit Fee Payment Date definition

Letter of Credit Fee Payment Date means the last Business Day of each March, June, September and December, commencing June 30, 2007 and the last day of the Revolving Facility Commitment Period with respect to the Revolving Letters of Credit or the last day of the Backstop LC Facility Commitment Period with respect to the Backstop Letters of Credit (as applicable).
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Letter of Credit Fee Payment Date means, with respect to any Letter of Credit, the date of issuance thereof and the last Business Day of each March, June, September and December which occurs after the date of issuance, but prior to the expiry date of said Letter of Credit.
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Letter of Credit Fee Payment Date means, with respect to each Letter of Credit, the Letter of Credit Issuance Date and quarterly thereafter beginning on the first day of the third calendar month following the Letter of Credit Issuance Date and on the first day of each third calendar month thereafter (the exact dates to be included in the Enhancement Custodial Agreement on the Letter of Credit Issuance Date).
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Examples of Letter of Credit Fee Payment Date in a sentence

  • The fronting fee amount so payable shall be equal to the product of (A) one-eighth of one percent (1/8%) times (B) the amount available for drawings under such Letter of Credit on such Letter of Credit Fee Payment Date times (C) the number of days from, but not including, such Letter of Credit Fee Payment Date through and including the next to occur Letter of Credit Fee Payment Date (or expiry date, if sooner) applicable to such Letter of Credit divided by 360.

  • In addition, with respect to each Letter of Credit, the Company shall pay to the Issuer, for the benefit of the Issuer only, a fronting fee, in advance, on such Letter of Credit, which shall be due and payable on each Letter of Credit Fee Payment Date.

  • Grants from the government are recognised at their fair value when there is a reasonable assurance that the grant will be received and the group will comply with all attached conditions.

  • The fronting fee amount so payable shall be equal to the product of (A) one-eighth of one percent (1/8%) times (B) the ----- amount available for drawings under such Letter of Credit on such Letter of Credit Fee Payment Date times (C) the number of days from, but not including, ----- such Letter of Credit Fee Payment Date through and including the next to occur Letter of Credit Fee Payment Date (or expiry date, if sooner) applicable to such Letter of Credit divided by 360.

  • The Letter of Credit Fee payable on the date of issuance of a Letter of Credit shall be in an amount equal to the Letter of Credit Fee applicable to such Letter of Credit on the basis of the then Stated Amount for the period from the date of issuance of such Letter of Credit to the next occurring Letter of Credit Fee Payment Date.

  • The Obligor hereby agrees to pay to the LOC Provider the Letter of Credit Fee payable with respect to each Letter of Credit, without notice or demand, in immediately available funds in advance on the Letter of Credit Issuance Date and quarterly thereafter on each applicable Letter of Credit Fee Payment Date.

  • The representations and warranties in this Clause 20 shall be deemed repeated on each Letter of Credit Fee Payment Date prior to the Final Discharge Date in each case by reference to the facts and circumstances then existing.

  • In the event subsequent occurrences reduce the amount or duration of the Banks' liability under a Letter of Credit below the amount or duration used in making the above calculations, the Agent and each Bank will credit to Borrower, on the next to occur of a Letter of Credit Fee Payment Date or the Revolving Credit Termination Date, the appropriate portion of the Letter of Credit Fee received by such party if the amount refundable by such Bank or the Agent exceeds $100.


More Definitions of Letter of Credit Fee Payment Date

Letter of Credit Fee Payment Date has the meaning assigned to --------------------------------- such term in Section 3.20.
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Letter of Credit Fee Payment Date has the meaning given to such term in Clause 11.1.2 (Fee payable in respect of Letters of Credit).
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Related to Letter of Credit Fee Payment Date

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

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

  • Letter of Credit Fee Rate means, with respect to a Letter of Credit, the annual percentage per annum indicated below the reference to “Letters of Credit” in the definition of “Applicable Margin” relevant to the period in respect of which determination is being made, as adjusted pursuant to the definition of “Applicable Margin”.

  • Applicable Letter of Credit Fee Rate means 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 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:

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

  • Applicable Unused Commitment Fee Rate means 0.50% per annum.

  • Commitment Fee has the meaning specified in Section 2.09(a).

  • Letter of Credit Termination Date means the fifth Domestic Business Day prior to the Termination Date.

  • Undrawn Fee Rate has the meaning set forth in the Fee Letter.

  • Commitment Fee Rate has the meaning set forth in the definition of “Applicable Margin”.

  • Applicable Commitment Fee Rate means 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 “Commitment Fee.”

  • Unused Commitment Fee Rate has the meaning given to such term in the Fee Letter.

  • Applicable Commitment Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.15(C)(i) hereof determined in accordance with the provisions of Section 2.15(D)(ii) hereof.

  • Standby Letter of Credit Fee shall have the meaning assigned to such term in Section 3.5(b)(i).

  • Commitment Fee Percentage means, with respect to the Revolving Loan Commitments at any time, the per annum percentage which is used to calculate Commitment Fees for such Revolving Loan Commitments determined pursuant to the Pricing Grid.

  • Applicable Unused Line Fee Percentage means, as of any date of determination, the applicable percentage set forth in the following table that corresponds to the Average Revolver Usage of Borrowers for the most recently completed month as determined by Agent in its Permitted Discretion; provided, that for the period from the Closing Date through and including the last day of the third full calendar month following the Closing Date, the Applicable Unused Line Fee Percentage shall be set at the rate in the row styled “Level II”; provided further, that any time an Event of Default has occurred and is continuing, the Applicable Unused Line Fee Percentage shall be set at the margin in the row styled “Level II”: I > 50% of the Maximum Revolver Amount 0.375 percentage points II ≤ 50% of the Maximum Revolver Amount 0.50 percentage points The Applicable Unused Line Fee Percentage shall be re-determined on the first date of each month by Agent.

  • Applicable Facility Fee Rate means, at any time, the percentage rate per annum at which Facility Fees are accruing on the Aggregate Commitment at such time as set forth in the Pricing Schedule.

  • Applicable Facility Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.14(C)(i) hereof determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • Applicable Commitment Fee Margin means, for each Pricing Period, the margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: II 10.0 V 17.5

  • 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 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.

  • Unused Facility Fee has the meaning specified in Section 2.09(a).

  • Unused Fee has the meaning specified in Section 2.09(a).

  • 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.

  • Facility Fee Percentage means, as of any date, the percentage set forth in the column headed “Facility Fee Percentage” in Section 2.3 that is in effect on such date.