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.
Appears in 1 contract
Sources: Deed of Amendment and Restatement (Stolt Offshore S A)
Guarantee Commitment Commission. The Borrower Indemnifier shall pay to the Agent a guarantee commitment commission equal to forty nought point seven three one two five per cent (450.73125%) of the Guarantee Commission payable on the daily unissued portion of the Guarantee Facility available for issuanceissuance from the date of this Agreement. 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 1 November 2003 and a final pro rata payment shall be due on the last day of the Facility Period.
Appears in 1 contract
Sources: Bank Guarantee Facility Agreement (Stolt Offshore S A)