Letter of Credit Facing Fee Sample Clauses

Letter of Credit Facing Fee. To each Issuing Bank, for its own account, a facing fee for each calendar quarter (or portion thereof) on the daily average aggregate Stated Amount of all Letters of Credit issued by such Issuing Bank outstanding during such quarter, at a per annum rate separately agreed to between each Issuing Bank and the Borrower (each an “LC Fee”), payable in arrears (i) on the last Business Day of each calendar quarter, beginning with the first such day to occur after the Agreement Date, and (ii) on the later of the Facility Termination Date and the date of termination of the last outstanding Letter of Credit;

Letter of Credit Facing Fee. The Borrower agrees to pay to the Administrative Agent, for the sole account of the Designated Letter of Credit Issuer, a facing fee for each then outstanding Letter of Credit issued by such Designated Letter of Credit Issuer for the account of the Borrower or such other Letter of Credit Obligor being guaranteed by the Borrower (unless such amount attributable to such Letter of Credit Obligor has been directly paid to the Designated Letter of Credit Issuer pursuant to the applicable Reimbursement Agreement) equal to 0.25% per annum MULTIPLIED BY the maximum amount available from time to time to be drawn under such Letter of Credit issued by such Designated Letter of Credit Issuer, payable monthly in arrears on the first Business Day of each calendar month occurring after the Closing Date.

Letter of Credit Facing Fee. Account Parties agree to pay to the Bank a nonrefundable letter of credit facing fee, payable without any requirement of notice or demand by the Bank, with the first such payment due on January 1, 1996 for the period from the Closing Date through December 31, 1995, and payable quarterly in arrears thereafter on or before each Wellsford REIT Loan Agreement Interest Payment Date in an amount equal to 0.50% per annum of the Stated Amount (without regard to reductions of the Stated Amount subject to reinstatement, it being understood that reductions effected by submission of a Certificate in the form of Exhibit "D" attached to the Letter of Credit are not subject to reinstatement) (said quarterly payment to be computed on the basis of a year of 360 days and the actual number of days elapsed during the quarter).

Letter of Credit Facing Fee. The Account Parties agree to pay to the Bank a nonrefundable letter of credit facing fee, payable without any requirement of notice or demand by the Bank, for the period from and including the Closing Date until the Expiration Date in an amount equal to 0.90 % per annum of the Stated Amount (without regard to reductions of the Stated Amount subject to reinstatement, it being understood that reductions effected by submission of a Certificate in the form of Exhibit "D" attached to the Letter of Credit are not subject to reinstatement). Such fee shall be calculated on the basis of a 360-day year for the actual number of days belonging to the Calculation Period (as defined below) and shall be payable quarterly in advance, in immediately available funds, on the Closing Date and January 1, April 1, July 1 and October 1, of each year (each a "Payment Date"). As used herein, the term "Calculation Period" shall mean, in respect of each Payment Date (the "applicable Payment Date"), the period commencing on such applicable Payment Date and ending on the next Payment Date (or in the case of the applicable Payment Date immediately prior to the Expiration Date, the Expiration Date).

Letter of Credit Facing Fee. Each Borrower agrees to pay to the Administrative Agent, for the sole account of the Designated Letter of Credit Issuer designated for such Borrower, a facing fee for all Letters of Credit issued by such Designated Letter of Credit Issuer for the account of such Borrower or such other Letter of Credit Obligor being guaranteed by such Borrower (unless such amount attributable to such Letter of Credit Obligor has been directly paid to the Designated Letter of Credit Issuer pursuant to the applicable reimbursement agreement) equal to one-eighth of one percent (0.125%) per annum of the average daily maximum amount available to be drawn under all Letters of Credit issued by such Designated Letter of Credit Issuer while outstanding, payable quarterly in arrears on the first day of each calendar quarter.