Examples of Fronting Fees in a sentence
Such Fronting Fees shall be computed on a quarterly basis in arrears and shall be payable on the last Business Day of each calendar month, commencing November 30, 2016 and on the Maturity Date, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand.
Fronting Fees shall be due and payable quarterly in arrears on each Quarterly Date and on the applicable Termination Date (or such earlier date as all Letters of Credit shall be canceled or expire).
On the Effective Date and in connection with the replacement of Xxxxxx Xxxxxxx Bank, N.A. as Letter of Credit Issuer and the appointment of each of Bank of America, N.A., Xxxxxxx Sachs Bank USA and Citibank, N.A. as a successor Letter of Credit Issuer pursuant to Section 3.6 of the Credit Agreement, the Borrower agrees to pay to Xxxxxx Xxxxxxx Bank, N.A. all Fronting Fees accrued and unpaid in connection with all outstanding Letters of Credit immediately prior to the Effective Date.
Such Fronting Fees shall be due and payable (x) quarterly in arrears on the last Business Day of each March, June, September and December and (y) on the date upon which the Total Revolving Credit Commitment terminates and the Letter of Credit Outstandings shall have been reduced to zero.
All Letter of Credit Fronting Fees and Letter of Credit Fees shall be computed on the basis of the actual number of days elapsed in a year of 360 days.