Examples of Principal Borrower in a sentence
Insert name of Principal Borrower here PRINCIPAL BORROWER (Signature above printed name) Insert name of Originator here ORIGINATING INSTITUTION Represented by (Insert name of Atty.-in-fact here; indicate N/A if principal borrower has no representative) as his/her Atty.-in-fact.
In addition to the above fees, the Principal Borrower shall pay directly to the applicable Fronting Lender for its own account a Fronting Fee calculated at a rate per 365 or 366 day period, as applicable, equal to the rate to be agreed upon in writing by the Principal Borrower and the applicable Fronting Lender on or before each anniversary of the Closing Date, which shall be computed on the daily amount available to be drawn under such Letter of Credit and paid on a quarterly basis in arrears.
All fees required to be paid on the Closing Date and reasonable out-of-pocket expenses required to be paid on the Closing Date, to the extent such expenses are invoiced at least 2 Banking Days prior to the Closing Date (or such shorter period as is otherwise reasonably agreed by the Principal Borrower) shall have been paid (which amounts may, at the option of the Principal Borrower, be offset against the proceeds of the Credit Facilities).
Upon receipt by the applicable Fronting Lender of confirmation from the Agent that the requested issuance or amendment is permitted in accordance with the terms hereof, then, subject to the terms and conditions hereof, the applicable Fronting Lender shall, on the requested date, issue a Letter of Credit for the account of the Principal Borrower or enter into the applicable amendment, as the case may be.
The Principal Borrower shall pay to the Agent for the account of each Applicable Lender a standby fee in Cdn.