Letter of Credit Participation Fees definition
Examples of Letter of Credit Participation Fees in a sentence
Letter of Credit Participation Fees and Letter of Credit Fronting Fees accrued through and including the last day of March, June, September and December of each year shall be payable on each such last day, commencing on the first such date to occur after the Closing Date; provided that all such fees shall be payable on the date on which the Commitments terminate and any such fees accruing after the date on which the Commitments terminate shall be payable on demand.
Letter of Credit Participation Fees and Letter of Credit Fronting Fees accrued through and including the last day of March, June, September and December of each year shall be payable on each such last day, commencing on the first such date to occur after the Effective Date; provided that all such fees shall be payable on the date on which the Commitments terminate and any such fees accruing after the date on which the Commitments terminate shall be payable on demand.
Following the effectiveness of an ESG Amendment, any modification to the ESG Pricing Provisions shall be subject only to the consent of the Required Lenders so long as such modification does not have the effect of reducing the Applicable Margin for Term SOFR Advances, ABR Advances, Letter of Credit Participation Fees, or the Facility Fee to a level not otherwise permitted by this Section 2.14(a).
No Defaulting Lender shall be entitled to receive any Revolving Commitment Fee for any period during which that Lender is a Defaulting Lender (and the Borrowers shall not be required to pay any such fee that otherwise would have been required to have been paid to that Defaulting Lender) and (y) each Defaulting Lender shall be limited in its right to receive Letter of Credit Participation Fees as provided in Section 2.15(c)(ii).
Each borrowing of Revolving Credit Loans, each payment of the Commitment Fees and Letter of Credit Participation Fees and each reduction of the Revolving Credit Commitments shall be made pro rata among the Lenders in accordance with their respective Revolving Credit Commitments (or, if such Commitments shall have expired or been terminated, in accordance with the respective principal amounts of their outstanding Revolving Credit Loans).
All obligations of the Borrowers under this Agreement and the other Loan Documents shall be joint and several, including, without limitation, obligations in respect of the payment of principal of and interest on the Notes, Commitment Fees, Letter of Credit Participation Fees and all other amounts payable hereunder and under the other Loan Documents.
All Letter of Credit Participation Fees and Letter of Credit Fronting Fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
The Borrowers shall pay to the Administrative Agent for the account of the Revolving Lenders, on the date of each termination or reduction, the Commitment Fees and, to the extent applicable, Letter of Credit Participation Fees on the amount of the Commitments so terminated or reduced accrued to but excluding the date of such termination or reduction.
No Defaulting Lender shall be entitled to receive any Commitment Fee for any period during which that Lender is a Defaulting Lender (and the Borrowers shall not be required to pay any such fee that otherwise would have been required to have been paid to that Defaulting Lender) and (y) each Defaulting Lender shall be limited in its right to receive Letter of Credit Participation Fees as provided in Section 2.15(c)(ii).
Accrued and unpaid Letter of Credit Participation Fees under the Existing Credit Agreement shall be paid on the Closing Date or, if later, upon receipt of a ▇▇▇▇ from the Agent.