Commitment Fee and Letter of Credit Fee Sample Clauses

Commitment Fee and Letter of Credit Fee. The Borrower has paid at or prior to the Date of Issuance a commitment fee of Fifteen Thousand Dollars ($15,000.00), which is the commitment fee for both this Letter of Credit and the letter of credit for the $4,550,000 Water Facilities Refunding Revenue Bonds (The Connecticut Water Company Project - 2004B Series). The Borrower hereby agrees to pay to the Bank in advance the Letter of Credit Fee on a quarterly basis in an amount equal to 50 basis points of the Stated Amount of the Letter of Credit per annum, unless the Borrower has a downgrade by any of Xxxxx'x Investors Services, Standard & Poor's or Fitch Rating to Baa1, BBB+ or BBB+, respectively, or lower, in which case the Letter of Credit Fee will be an amount equal to 60 basis points of the Stated Amount of the Letter of Credit per annum. Such Letter of Credit Fee shall be calculated on the basis of the actual number of days elapsed in a year of 365 days and be payable quarterly in advance on each January 1, April 1, July 1 and October 1, with the initial payment covering the period from the Date of Issuance through September 30, 2004 due on the Date of Issuance. Exhibit 4.29
Sample 1
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Commitment Fee and Letter of Credit Fee. So long as the Revolving Credit is or shall remain in effect, Bank shall be entitled to receive from Borrower a commitment fee, which fee shall be computed (on the basis of the actual number of days elapsed and a year of 365 or 366 days, as the case may be), at the rate of: (a) one eighth percent (1/8%) per annum on the average daily difference between the Revolving Credit from time to time in effect and the aggregate unpaid principal balance of the Loans then outstanding and; (b) whenever the aggregate unpaid principal balance of the Loans from time to time outstanding shall be less than an amount equal to one-half (1/2) the amount of the Revolving Credit then in effect, Bank shall be entitled to a further fee computed at the rate of three eighths percent (3/8%) per annum on the average daily difference between one-half (1/2) the amount of the Revolving Credit then in effect and such
Sample 1
Commitment Fee and Letter of Credit Fee. The Borrower has paid at or prior to the Date of Issuance a commitment fee of Fifteen Thousand Dollars ($15,000.00). The Borrower hereby agrees to pay to the Bank in advance the Letter of Credit Fee on a quarterly basis in an amount equal to 50 basis points of the Stated Amount of the Letter of Credit per annum, unless the Borrower has a downgrade by any of Mxxxx’x Investors Services, Standard & Poor’s or Fitch Rating to Baa1, BBB+ or BBB+, respectively, or lower, in which case the Letter of Credit Fee will be an amount equal to 60 basis points of the Stated Amount of the Letter of Credit per annum. Such Letter of Credit Fee shall be calculated on the basis of the actual number of days elapsed in a year of 365 days and be payable quarterly in advance on each January 1, April 1, July 1 and October 1, with the initial payment covering the period from the Date of Issuance through March 31, 2004 due on the Date of Issuance.
Sample 1

Related to Commitment Fee and Letter of Credit Fee

  • Letter of Credit Fee Borrowers shall pay Agent (for the ratable benefit of the Revolving Lenders), a Letter of Credit fee (the “Letter of Credit Fee”) (which fee shall be in addition to the fronting fees and commissions, other fees, charges and expenses set forth in Section 2.11(k)) that shall accrue at a per annum rate equal to the LIBOR Rate Margin times the undrawn amount of all outstanding Letters of Credit.

  • Interest Rates and Letter of Credit Fee RATES, PAYMENTS, AND CALCULATIONS.

  • Letter of Credit Fees The Borrower shall pay to the Administrative Agent for the account of each Revolving Credit Lender in accordance, subject to Section 2.16 with its Applicable Revolving Credit Percentage a Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of Credit equal to the Applicable Rate times the daily amount available to be drawn under such Letter of Credit. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. Letter of Credit Fees shall be (i) due and payable on the first Business Day after the end of each March, June, September and December, 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 and (ii) computed on a quarterly basis in arrears. If there is any change in the Applicable Rate during any quarter, the daily amount available to be drawn under each Letter of Credit shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, upon the request of the Required Revolving Lenders, while any Event of Default exists, all past due Letter of Credit Fees shall accrue at the Default Rate.

  • Letter of Credit Fees, Etc (i) The Borrower shall pay to the Administrative Agent for the account of each Working Capital Lender a commission, payable in arrears quarterly on the first day of each July, October, January and April, commencing July 1, 1996, and on the earliest to occur of the full drawing, expiration, termination or cancellation of any Letter of Credit and on the Termination Date, on such Lender's Pro Rata Share of the average daily aggregate Available Amount during such quarter of all Letters of Credit outstanding from time to time at a rate per annum equal to the Applicable Margin for Eurodollar Rate Advances in effect from time to time.

  • Commitment Fee The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Facility in accordance with its Pro Rata Share, a commitment fee equal to the Applicable Rate with respect to commitment fees times the actual daily amount by which the aggregate Revolving Credit Commitment exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans (which shall exclude, for the avoidance of doubt, any Swing Line Loans) and (B) the Outstanding Amount of L/C Obligations; provided that (x) any commitment fee accrued with respect to any of the Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall otherwise have been due and payable by the Borrower prior to such time and (y) no commitment fee shall accrue on any of the Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The commitment fee on each Revolving Credit Facility shall accrue at all times from the Closing Date until the Maturity Date for the Revolving Credit Facility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date during the first full fiscal quarter to occur after the Closing Date, and on the Maturity Date for the Revolving Credit Facility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

  • Letter of Credit Fees, Interest Rate The Letter of Credit Fees and the rate of interest for each Loan otherwise applicable pursuant to Section 2.9.2 [Letter of Credit Fees] or Section 4.1 [Interest Rate Options], respectively, shall be increased by 2.0% per annum;

  • Facility Fee The Company shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage, a facility fee, in Dollars, equal to the Applicable Rate for facility fees times the actual daily amount of the Aggregate Commitments (or, if the Aggregate Commitments have terminated, on the Outstanding Amount of all Committed Loans, Swing Line Loans and L/C Obligations), regardless of usage, subject to adjustment as provided in Section 2.18. The facility fee shall accrue at all times during the Availability Period (and thereafter so long as any Committed Loans, Swing Line Loans or L/C Obligations remain outstanding), including at any time during which one or more of the conditions in Article IV are not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the last day of the Availability Period (and, if applicable, thereafter on demand). The facility fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate for facility fees during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate for facility fees separately for each period during such quarter that such Applicable Rate for facility fees was in effect.

  • Interest Rates and Letter of Credit Fee Rates Payments and Calculations (a) Interest Rates. Except as provided in Section 2.13(c) and Section 2.15(a), all Obligations (except for the undrawn portion of the face amount of Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to the lesser of (i) the LIBOR Rate plus the Applicable Margin, or (ii) the maximum rate of interest allowed by applicable laws; provided, that following notice to Borrower in accordance with Section 2.15(a) hereof, all Obligations that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal, during the duration of the circumstances described in Section 2.15(a), to the lesser of (A) the Base Rate plus the Applicable Margin as calculated pursuant to Section 2.15(a) or (B) the maximum rate of interest allowable by applicable laws.

  • Commitment Fees, etc (a) The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender a commitment fee for the period from and including the Closing Date to the last day of the Revolving Credit Commitment Period, computed at the Commitment Fee Rate on the average daily amount of the Available Revolving Credit Commitment of such Lender during the period for which payment is made, payable quarterly in arrears on the last day of each March, June, September and December and on the Revolving Credit Termination Date, commencing on the first of such dates to occur after the date hereof.

  • Unused Facility Fee A quarterly Unused Facility Fee equal to one quarter of one percent (0.25%) per annum of the difference between the Revolving Line and the average outstanding principal balance of Advances during the applicable quarter, which fee shall be payable within five (5) days of the last day of each such quarter and shall be nonrefundable; and

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