Acceptance Commission Sample Clauses
An Acceptance Commission clause establishes a formal group or committee responsible for reviewing and approving the completion of a project, product, or service before it is officially accepted by the client or contracting party. Typically, this commission is composed of representatives from both the client and the contractor, who jointly inspect the deliverables to ensure they meet the agreed-upon specifications and standards. The core function of this clause is to provide an objective and structured process for verifying compliance and quality, thereby reducing disputes and ensuring that only satisfactory work is accepted.
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Acceptance Commission. Each Borrower for whose account an Acceptance has been created agrees to pay to each Issuing Bank an acceptance commission, with respect to each Acceptance created by such Issuing Bank on the face amount of such Acceptance, for the period from the date of such Acceptance to the date of its maturity, at the Acceptance Rate in effect on the date of the creation of such Acceptance. Payment of such acceptance commission with respect to each Acceptance created by such Issuing Bank shall be made for the account of such Borrower by such Issuing Bank's deducting the amount of such acceptance commission from the proceeds of such Issuing Bank's discount of such Acceptance pursuant to Section 2.04(h).
Acceptance Commission. The Borrowers jointly and severally agree to pay to the Administrative Agent, for the account of the Lenders, in accordance with their respective Pro Rata Shares, an acceptance commission, with respect to each Acceptance created by the Letter of Credit Issuer hereunder, on the face amount of such Acceptance, for the period from the date of such Acceptance to the date of its maturity, at a rate per annum equal to the Applicable Margin in effect from time to time for LIBOR Revolving Loans (with a minimum fee of $125), payable in full on the date of the creation of such Acceptance. The acceptance commission shall be computed on the basis of a 360-day year and the actual number of days elapsed.
Acceptance Commission. 25 11. The Bills.................................................. 26 12.
Acceptance Commission. The relevant Borrower whose Bills are accepted hereunder shall be obliged, on the day such Bills are accepted, to pay to the Facility Agent for the account of each Bank which accepts its Bills under Clause 9.1 an acceptance commission in sterling at the Acceptance Commission Rate on the face amount thereof and for the Tenor thereof.
Acceptance Commission. The Borrower agrees to pay to the Bank an acceptance commission, with respect to each Acceptance created by such Bank hereunder, on the face amount of such Acceptance, for the period from the date of such Acceptance to the date of its maturity, of 3/4 of 1%, as a percentage per annum, payable in full on the date such Acceptance is created. Payment of such acceptance commission with respect to each Acceptance shall be made for account of the Borrower by the Bank deducting the amount of such acceptance commission from the proceeds of the discount of such Acceptance pursuant to Section 4.5.
Acceptance Commission. Acceptance commission on any ▇▇▇▇ shall be calculated on the basis of a year of 365 days and for the actual number of days in the relevant Interest Period.
Acceptance Commission. The Borrower shall pay to the Bank an acceptance commission at the rate of ONE POINT FIVE ZERO per centum per annum (1.50% p.a) calculated on the face value of each BA created and such rate shall be subject to revision at the absolute discretion of the Bank from time to time with or without notice to the Borrower.
Acceptance Commission. The relevant Borrower whose Bills are accepted hereunder shall be obliged, on the day such Bills are accepted, to pay to the Agent for the account of each Bank which accepts its Bills under Clause 6.7 (Acceptance of Bills) an acceptance commission in Sterling at the applicable Acceptance Commission Rate on the face amount thereof and for the Tenor thereof.
Acceptance Commission. 8 4.5 Discount ....................................................... 8 4.6 Termination of the Acceptance Commitment ....................... 8 4.7