Guarantee Commitment Commission Sample Clauses

Guarantee Commitment Commission. The Borrower shall pay to the Agent a guarantee commitment commission equal to forty five per cent (45%) of the Guarantee Commission payable on the daily unissued portion of the Guarantee Facility available for issuance. Such guarantee commitment commission will accrue from day to day on the basis of a 360 day year and the actual number of days elapsed and shall be paid quarterly in arrears. The first payment shall be due on 30 September 2003 and a final pro rata payment shall be due on the last day of the Facility Period.