Letter of Credit Fronting Fee definition

Letter of Credit Fronting Fee as defined in Section 2.3(c).

Letter of Credit Fronting Fee means, with respect to any Letter of Credit issued hereunder, a fee equal to one eighth of one percent (.125%) per annum of the stated amount of such Letter of Credit.

Letter of Credit Fronting Fee means, with respect to any Letter of Credit issued hereunder, a fee equal to the greater of (a) $500 or (b) .125% per annum of the average daily amount available to be drawn under such Letter of Credit during the Fiscal Quarter (or portion thereof) ending on the date the payment of such fee is due.

Examples of Letter of Credit Fronting Fee in a sentence

• The Issuing Lender Fees shall be paid when required by the Issuing Lender, and the Letter of Credit Fronting Fee and the Letter of Credit Fee shall be payable quarterly in arrears on the last Business Day of March, June, September and December of each year and on the Letter of Credit Maturity Date (each, an “L/C Fee Payment Date”) after the issuance date of such Letter of Credit.

• The Issuing Lender Fees shall be paid when required by the applicable Issuing Lender, and the Letter of Credit Fronting Fee and the Letter of Credit Fee shall be payable quarterly in arrears on the last Business Day of March, June, September and December of each year and on the Letter of Credit Maturity Date (each, an “L/C Fee Payment Date”) after the issuance date of such Letter of Credit.

• Administrative Agent shall distribute the Letter of Credit Fee to Banks in accordance with their respective Commitment Percentages, and Administrative Agent shall distribute the Letter of Credit Fronting Fee, and the charges described in clause (c) of the immediately preceding sentence, to the Letter of Credit Issuer for its own account.

• Agent shall distribute the Letter of Credit Fee payable upon the issuance of each Letter of Credit to Banks participating in such Letter of Credit and Letter of Credit Exposure based on the relative amounts of their participation in such Letter of Credit and Letter of Credit Exposure and Agent shall distribute the Letter of Credit Fronting Fee to the Issuer of such Letter of Credit for its own account.

• At the time of issuance of each Letter of Credit, Borrower shall pay to Agent in respect of such Letter of Credit (a) the applicable Letter of Credit Fee, and (b) to the extent the stated amount of such Letter of Credit is equal to or in excess of $1,000,000, the applicable Letter of Credit Fronting Fee.

More Definitions of Letter of Credit Fronting Fee

Letter of Credit Fronting Fee has the meaning assigned to that term in Section 2.7F(v) hereof.

Letter of Credit Fronting Fee has the meaning specified in Section 2.09(c)(ii).

Letter of Credit Fronting Fee has the meaning provided in Section 3.13(b) (Fees).

Letter of Credit Fronting Fee and "Letter of Credit Fronting Fees" have the meanings described in Section 2.2.2(a) (Letter of Credit Fees).

Letter of Credit Fronting Fee means the Letter of Credit Fronting Fee payable pursuant to Section 2.1(b) which shall accrue each day at a per annum rate of .125%.

Letter of Credit Fronting Fee means, with respect to any Letter of Credit issued hereunder with a stated amount of $1,000,000 or greater, a fee equal to one tenth of one percent (.10%) of the stated amount of such Letter of Credit.

Letter of Credit Fronting Fee means, with respect to any Letter of Credit issued hereunder, a fee equal to the greater of