Common use of Credit Fee Clause in Contracts

Credit Fee. (a) The Borrower shall pay on the undisbursed balance of the Financing which is not in the currency of the Borrower's country a credit fee, which shall begin to accrue sixty (60) days after the date of the Contract. The amount of said fee shall be as indicated in the Special Conditions and under no circumstance may exceed 0.75% per annum.

Credit Fee. (a) The Borrower shall pay on the undisbursed balance of the Financing which is not in the currency of the Borrower's country a credit feefee of l /2 of 1 per annum, which shall begin to accrue sixty (60twelve ( I 2) days months after the date of the Contract. The amount Resolution of said fee shall be as indicated in the Special Conditions and under no circumstance may exceed 0.75% per annumBoard of Executive Directors approving the Financing.