Standby LC Fee definition

Standby LC Fee. As defined in Section 2.19(d).
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Standby LC Fee is defined in Section 5.4.
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Standby LC Fee is defined in Section 2.10(b).
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Examples of Standby LC Fee in a sentence

  • The Standby L/C Fee provided for in this subsection shall be payable quarterly in arrears on the last day of each fiscal quarter, commencing September 30, 1997, and on the Revolving Credit Termination Date.

  • Borrower shall pay to Agent, for the ratable benefit of the Lenders as provided in clause (vii) of Subparagraph 2.10(a), nonrefundable letter of credit fees for the Standby Letters of Credit (the “Standby LC Usage Fees”) equal to the Standby LC Fee Rate on the daily average available amount of each Standby Letter of Credit for the period beginning on the date such Standby Letter of Credit is issued and ending on the date such Standby Letter of Credit expires.

  • The Standby LC Fee for each such Letter of Credit shall be payable in advance on its issuance date and on the first day of each calendar quarter beginning thereafter while it is outstanding.

  • After an Event of Default has been cured or waived, the interest rate applicable to advances and the Standby LC Fee shall revert to the rates applicable prior to the occurrence of an Event of Default.

  • The Standby L/C Fee shall be payable quarterly in arrears on the last day of each calendar quarter, commencing on the last day of the calendar quarter in which the first L/C is issued, and on the Revolving Credit Termination Date.

  • The Standby LC Fee Rate shall be equal to the standard Standby LC Fee Rate then in effect and charged by Issuing Bank.

  • In lieu of any letter of credit commissions and fees provided for in any Standby L/C Application (other than standard issuance, amendment and negotiation fees), the Borrowers agree to pay Bank One, for the ratable benefit of the Banks, with respect to each Standby L/C a nonrefundable Standby L/C Fee of one and one-half percent (1.5%) per annum of the face amount of each Standby L/C, payable in advance not later than the date of issuance thereof.

  • Borrower shall pay to Agent for the account of Lenders in accordance with their Prorata Shares a "Standby LC Fee" for each standby Letter of Credit issued by Agent (exclusive of the IRB Letter of Credit) that shall be calculated by applying the quarterly equivalent of .75% to the aggregate undrawn amount of such Letter of Credit.

  • The Standby LC Fee for each such Standby LC shall be payable in advance on its issuance date and quarterly in advance thereafter until the earlier of the expiration of the LC or the Revolver Maturity Date.

  • The Applicable Revolver Index Margin, Applicable Standby L/C Fee and Applicable Unused Line Fee will be 2.25%, 2.00% and .375% per annum, respectively, as of the Closing Date.


More Definitions of Standby LC Fee

Standby LC Fee means the percentage set forth below opposite the applicable ratio: Consolidated Total Funded Debt to Consolidated EBITDA Standby LC Fee (360 Day Basis) Greater than or equal to 3.00:1.00 1.25% Greater than or equal to 2.50:1.00 and less than 3.00:1.00 1.00% Greater than or equal to 2.00:1.00 and less than 2.50:1.00 0.875% Greater than or equal to 1.50:1.00 and less than 2.00:1.00 0.75% Greater than or equal to 1.00:1.00 and less than 1.50:1.00 0.625% Less than 1.00:1.00 0.50% Notwithstanding the foregoing, during the period commencing on the Closing Date and ending on the tenth (10th) Business Day following the date of delivery of the financial statements to the Administrative Agent for the fiscal quarter ended March 31, 2006, the Standby LC Fee shall be 0.75% per annum. The Standby LC Fee will be set or reset quarterly on the date which is ten (10) Business Days following the date of receipt by the Administrative Agent of the financial statements referred to in Section 6.03(a) or Section 6.03(b) hereof, as applicable, together with a certificate of the Chief Financial Officer of the Company certifying the ratio of Consolidated Total Funded Debt to Consolidated EBITDA and setting forth the calculation thereof in detail; provided, however, if any such financial statement and certificate are not received by the Administrative Agent within the time period required pursuant to Section 6.03(a) or Section 6.03(b) hereof, as the case may be, the Standby LC Fee will be set or reset, unless the rate of interest specified in Section 3.01(c) hereof is in effect solely due to the failure of the Company to comply with Section 6.03(a) or 6.03(b) hereof, based on a ratio of Consolidated Total Funded Debt to Consolidated EBITDA of greater than or equal to 3.00:1.00 from the date such financial statement and certificate were due until the date which is ten (10) Business Days following the receipt by the Administrative Agent of such financial statement and certificate, and provided, further, that the Lenders shall not in any way be deemed to have waived any Default or Event of Default, including, without limitation, an Event of Default resulting from the failure of the Company to comply with Section 7.13 of this Agreement, or any rights or remedies hereunder or under any other Loan Document in connection with the foregoing proviso. During the occurrence and continuance of an Event of Default, no downward adjustment, and only upward adjustments, shall be made to the Standby...
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Standby LC Fee means the percentage set forth below opposite the applicable ratio:
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Standby LC Fee means one and one-quarter (1.25%) percent per annum.
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Related to Standby LC Fee

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

  • Standby L/C an irrevocable letter of credit under which the Issuing Lender agrees to make payments in Dollars for the account of Borrower, on behalf of Borrower or any Qualified Subsidiary in respect of obligations of Borrower or such Subsidiary incurred pursuant to contracts made or performances undertaken or to be undertaken or like matters relating to contracts to which Borrower or such Qualified Subsidiary is or proposes to become a party in Borrower’s or such Qualified Subsidiary’s business, including, without limiting the foregoing, for insurance purposes or in respect of advance payments or as bid or performance bonds or for any other purpose for which a standby letter of credit might customarily be issued.

  • Standby Fee With respect to each Mortgage Loan and each REO Loan, the fee designated as such and payable to the Special Servicer pursuant to the second paragraph of Section 3.11(c).

  • Standby Letter of Credit means any Letter of Credit other than a Commercial Letter of Credit.

  • Standby LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding standby Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements relating to standby Letters of Credit that have not yet been reimbursed by or on behalf of the Borrowers at such time. The Standby LC Exposure of any Revolving Lender at any time shall be its Applicable Percentage of the total Standby LC Exposure at such time.

  • Standby is displayed, followed by a message stating “Bidding started”. Enter your “Start bid”.

  • LC Fee is defined in Section 2.19.4.

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

  • Standby Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).

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

  • 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”.

  • Standby Letter of Credit Agreement means the Standby Letter of Credit Agreement relating to the issuance of a Standby Letter of Credit in the form from time to time in use by the L/C Issuer.

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

  • 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.”

  • Documentary Letter of Credit means any Letter of Credit that is drawable upon presentation of documents evidencing the sale or shipment of goods purchased by the Borrower or a Guarantor in the ordinary course of its business.

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • Alternative Currency Letter of Credit means a Letter of Credit denominated in an Alternative Currency.

  • Fronting Fee shall have the meaning provided in Section 4.1(c).

  • Foreign Currency Letter of Credit means a Letter of Credit denominated in a Foreign Currency.

  • Letter of Credit means any letter of credit issued hereunder. A Letter of Credit may be a commercial letter of credit or a standby letter of credit.

  • 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).

  • Fronted Letter of Credit means a standby Letter of Credit issued by an Issuing Lender having an L/C Fronting Commitment in which each Lender purchases a risk participation pursuant to Section 3.4.

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

  • Facility LC Application is defined in Section 2.19.3.