Standby Letter of Credit Fee definition

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

Standby Letter of Credit Fee has the meaning specified in Section 2.11(b)(i).

Standby Letter of Credit Fee shall have the meaning set forth in Section 2.4(c).

Examples of Standby Letter of Credit Fee in a sentence

• The Standby Letter of Credit Fee will be payable quarterly in arrears on the last Business Day of each March, June, September and December for the immediately preceding quarter (or a portion thereof).

• In consideration of the issuance of standby Letters of Credit hereunder, the Borrower promises to pay to the Agent for the account of each Lender a fee (the "Standby Letter of Credit Fee") on such Lender's Commitment Percentage of the average daily maximum amount available to be drawn under each such standby Letter of Credit computed at a per annum rate for each day from the date of issuance to the date of expiration equal to the Applicable Percentage.

• The applicable Issuing Lender shall promptly pay over to the Administrative Agent for the ratable benefit of the Lenders (including the applicable Issuing Lender) the Standby Letter of Credit Fee and the Trade Letter of Credit Fee.

• The Standby Letter of Credit Fee, the Trade Letter of Credit Fee and the Fronting Fee shall be payable quarterly in arrears on the 15th day following the last day of each calendar quarter for the prior calendar quarter.

• The Standby Letter of Credit Fee shall be payable quarterly in arrears on the last Business Day of each March, June, September and December for the immediately preceding quarter (or a portion thereof) beginning with the first such date to occur after the Closing Date and on the Termination Date.

More Definitions of Standby Letter of Credit Fee

Standby Letter of Credit Fee has the meaning assigned to such term in Section 2.6(f).

Standby Letter of Credit Fee means the applicable per annum percentage set forth in the definition of “Applicable Rates”.

Standby Letter of Credit Fee means ----------------------------

Standby Letter of Credit Fee for each stand-by Letter of Credit equal to the Applicable Margin for SOFR Loans times the daily maximum amount available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit) and (y) a Letter of Credit fee with respect to any documentary Letters of Credit (“Documentary Letter of Credit Fee”, and collectively with any Standby Letter of Credit Fee, the “Letter of Credit Fees”) for each documentary Letter of Credit equal to 1.25% times the outstanding amount of such documentary Letter of Credit on the date payment of such fee is due in accordance with this Section 2.09(b); provided, however, any Letter of Credit Fees otherwise payable for the account of a Defaulting Lender with respect to any Letter of Credit as to which such Defaulting Lender has not provided Cash Collateral satisfactory to the Letter of Credit Issuer shall be payable, to the maximum extent permitted by applicable Law, to the other Revolving Credit Lenders in accordance with the upward adjustments in their respective Applicable Percentages allocable to such Letter of Credit pursuant to Section 2.17(a)(iv), with the balance of such fee, if any, payable to the Letter of Credit Issuer for its own account. For purposes of computing the daily amount available to be ​ drawn under any standby Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.07. The Letter of Credit Fees shall accrue at all times during the Availability Period, including at any time during which one or more of the conditions in Article V is not met, and shall be due and payable monthly in arrears on the first Business Day after each calendar month, commencing with the first such date to occur after the Closing Date, and on the last day of the Availability Period. If there is any change in the Applicable Margin for SOFR Loans during any calendar month, the daily maximum amount of each Standby Letter of Credit shall be computed and multiplied by the Applicable Margin for SOFR Loans separately for each period during such calendar month that such Applicable Margin was in effect. At all times that the Default Rate shall be applicable to any Loans pursuant to Section 2.08(b), the Letter of Credit Fees payable under this clause (b) shall accrue and be payable at the Default Rate.

Standby Letter of Credit Fee means, for each Pricing Period, the per ---------------------------- annum rate set forth as the interest rate margin in the definition of "Eurodollar Margin" opposite the Pricing Level for that Pricing Period.

Standby Letter of Credit Fee means, for any period, with respect to a Letter of Credit that is a standby Letter of Credit, the percentage rate per annum applicable to the period as set out below the heading “Standby Letter of Credit Fee Rate” in the definition of “Applicable Margin”.

Standby Letter of Credit Fee means, as of each date of determination, the applicable percentage set forth opposite the effective Company Rating in the Pricing Matrix.