Draw Fee Sample Clauses
A Draw Fee clause establishes a fee that must be paid by a borrower each time they access or "draw down" funds from a credit facility or loan. Typically, this fee is calculated as a percentage of the amount drawn and is charged at the time of each disbursement, rather than on the total facility amount. The core function of this clause is to compensate the lender for making funds available and to discourage unnecessary or frequent withdrawals, thereby managing administrative costs and ensuring efficient use of the credit facility.
POPULAR SAMPLE Copied 4 times
Draw Fee. In connection with the funding of each Advance under the Revolving Loan, the Borrower shall pay to the Lender, by way of deduction from the proceeds of such Advance, on the date of such funding, a non-refundable draw fee. The draw fee shall be equal to 1.00% of the amount of such Advance.
Draw Fee. (a) A draw fee accrues due from day to day on the daily amount of each Redraw Advance at the following rates:
(i) the sum of 0.18% per annum and the Bank ▇▇▇▇ Rate calculated as of that date (if that date is a Reset Date) or (otherwise) the Reset Date immediately before that date, if the Redraw Advance has been outstanding for less than 12 months; and
(ii) the sum of 0.30% per annum and the Bank ▇▇▇▇ Rate calculated as of that date (if that date is a Reset Date) or (otherwise) the Reset Date immediately before that date, if the Redraw Advance has been outstanding for 12 months or more.
(b) Each draw fee is calculated on the actual number of days elapsed and a year of 365 days.
(c) The Trust Manager directs the Trustee to, and the Trustee shall, pay to the Redraw Facility Provider any accrued draw fee in arrears on:
(i) each Payment Date; and
(ii) at the end of the Term.
(d) The Bank ▇▇▇▇ Rate as at any date will be the Bank ▇▇▇▇ Rate determined:
(i) if that date is a Payment Date, on that Payment Date; and
(ii) on any other date, on the Payment Date immediately preceding that date.
Draw Fee. If the Company elects to exercise its call rights under Section 2.3, then the Company agrees to issue the Draw Fee to the Backstopper, or its designated Affiliate, on the Closing Date.
Draw Fee. The City shall pay to the Bank in connection with each and every Drawing under the Letter of Credit, a nonrefundable draw fee of $350 per Drawing,
Draw Fee. The Corporation agrees to pay to the Bank in connection with Drawings under the Letter of Credit, a non-refundable annual fee in the amount of $1,500, payable in advance on the Date of Issuance and on each anniversary of the Date of Issuance occurring thereafter.
Draw Fee. The Borrower shall pay a fee equal to 1.50% of the amount so requested for each Letter of Credit issued by Lender.
Draw Fee. The Borrower will pay a fee equal to one and one-half (1.50%) percent of the amount requested for each Letter of Credit, calculated from the time issued until the current expiration date of the Letter. Except as hereby amended, the Agreement shall remain in full force and effect.
Draw Fee. (a) A draw fee accrues due from day to day on the daily amount of each Redraw Advance at the following rates:
(i) the sum of [0.12%] per annum and the Bank Bill Rate calculated as of that date (if that date is a Reset Date) or (otherwise) the Reset Date immediately before that date, if the Redraw Advance has been outstanding for less than 12 months; and
(ii) the sum of [0.22%] per annum and the Bank Bill Rate calculated as of that date (if that date is a Reset Date) or (otherwise) the Reset Date immediately before that date, if the Redraw Advance has been outstanding for 12 months or more.
(b) Each draw fee is calculated on the actual number of days elapsed and a -------------------------------------------------------------------------------- Page 5 ▇▇▇▇▇ ▇▇▇▇▇ & ▇▇▇▇▇▇▇ -------------------------------------------------------------------------------- SERIES 1999-1G WST TRUST REDRAW FACILITY AGREEMENT year of 365 days.
(c) The Trust Manager directs the Trustee to, and the Trustee shall, pay to the Redraw Facility Provider any accrued draw fee in arrear on:
(i) each Payment Date; and
(ii) at the end of the Term.
(d) The Bank Bill Rate as at any date will be the Bank Bill Rate determined:
(i) if that date is a Payment Date, on that Payment Date; and
(ii) on any other date, on the Payment Date immediately preceding that date.
Draw Fee. With respect to each Draw made by Celtic to Client under Section 3.1, will be deducted from the Draw amount.
Draw Fee. The Metropolitan Government hereby agrees to pay to the Bank a non-refundable draw fee of $250 for each Drawing under the Letter of Credit, payable on the date of such Drawing.