Common use of L/C Bank Fee Clause in Contracts

L/C Bank Fee. The Borrower shall pay to the L/C Bank a fronting fee (a) at any time prior to the occurrence of a Sharing Event, in the currency in which the relevant Documentary Credit is denominated and (b) at any time on or after the occurrence of a Sharing Event, in euros, at a rate 0.25 per cent. per annum applied on the Outstanding L/C Amount in relation to such Documentary Credit provided that in no event shall such fronting fee be less than €500 (or its equivalent). Such fronting fee shall be paid in arrear on the last Business Day of each March, June, September and December which begins during the Term of the relevant Documentary Credit and on the relevant Expiry Date. Accrued fronting fees shall also be payable on the cancelled amount of any Revolving Facility Commitment at the time such cancellation is effective, if the Revolving Facility Commitment is cancelled in full and a Documentary Credit is repaid in full.

L/C Bank Fee. The relevant Borrower shall pay to the L/C Bank a fronting fee (a) at any time prior to the occurrence of a Sharing Event, in the currency in which the relevant Documentary Credit is denominated and (b) at any time on or after the occurrence of a Sharing Event, in euros, at a rate 0.25 per cent. per annum applied on the Outstanding L/C Amount in relation to such Documentary Credit provided that in no event shall such fronting fee be less than €500 (or its equivalent). Such fronting fee shall be paid in arrear on the last Business Day of each March, June, September and December which begins during the Term of the relevant Documentary Credit and on the relevant Expiry Date. Accrued fronting fees shall also be payable on the cancelled amount of any Revolving Facility Commitment at the time such cancellation is effective, if the Revolving Facility Commitment is cancelled in full and a Documentary Credit is repaid in full.