Common use of Commission Rate Clause in Contracts

Commission Rate. A Borrower shall pay to the Bank on each Date of Drawing acceptance commission at a rate equal to the then current Applicable Margin (to be varied and restated from time to time in accordance with the provisions of the Multicurrency Agreement such that the Applicable Margin shall always be equivalent to any margin payable by APW or any of its affiliates under the Multicurrency Agreement) calculated on the face amount of each ▇▇▇▇ for a period equal to its Maturity Period, such payment to be effected by deduction by the Bank from the proceeds of discounting such ▇▇▇▇ pursuant to Clause 6.5."