Common use of Letter of Credit Issuance Fee Clause in Contracts

Letter of Credit Issuance Fee. The Borrower agrees to pay to each Issuer for its own account an issuance fee for each Letter of Credit issued by such Issuer equal to 0.125% per annum of the Stated Amount of such Letter of Credit. Such fee shall be payable by the Borrower on the date of issuance (and renewal or extension, as applicable) of such Letter of Credit. The Borrower also agrees to pay such Issuer’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder, which fees shall be payable to such Issuer within ten (10) days after demand.

Appears in 3 contracts

Samples: Lien Credit Agreement (Energy Xxi (Bermuda) LTD), Lien Credit Agreement (Energy XXI Texas, LP), Credit Agreement (Energy Xxi (Bermuda) LTD)

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Letter of Credit Issuance Fee. The Borrower agrees to pay to each Issuer for its own account an issuance fee for each Letter of Credit issued by such Issuer equal to 0.125the greater of (i) $500 or (ii) 0.25% per annum of the Stated Amount of such Letter of Credit. Such fee shall be payable by the Borrower on the date of issuance (and renewal or extension, as applicable) of such Letter of Creditquarterly in arrears. The Borrower also agrees to pay such Issuer’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder, which fees shall be payable to such Issuer within ten (10) days after demand.

Appears in 2 contracts

Samples: Credit Agreement (W&t Offshore Inc), Credit Agreement (W&t Offshore Inc)

Letter of Credit Issuance Fee. The Borrower agrees to pay to each Issuer for its own account an issuance fee for each Letter of Credit issued by such Issuer after the Effective Date equal to 0.1250.25% per annum of the Stated Amount of such Letter of Credit. Such fee shall be payable by the Borrower on the date of issuance (and renewal or extension, as applicable) of such Letter of Credit. The Borrower also agrees to pay such Issuer’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder, which fees shall be payable to such Issuer within ten (10) days after demand.

Appears in 1 contract

Samples: First Lien Exit Credit Agreement (Energy XXI Gulf Coast, Inc.)

Letter of Credit Issuance Fee. The Borrower agrees to pay to each Issuer for its own account an issuance fee for each Letter of Credit issued by such Issuer equal to 0.1250.25% per annum of the Stated Amount of such Letter of Credit. Such fee shall be payable by the Borrower on the date of issuance (and renewal or extension, as applicable) of such Letter of Credit. The Borrower also agrees to pay such Issuer’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder, which fees shall be payable to such Issuer within ten (10) days after demand.

Appears in 1 contract

Samples: Credit Agreement (Energy Xxi (Bermuda) LTD)

Letter of Credit Issuance Fee. The Borrower agrees to pay to each the Issuer for its own account an issuance fee for each Letter of Credit issued by such the Issuer equal to 0.125% per annum of the Stated Amount of such Letter of Credit. Such fee shall be payable by the Borrower on the date of issuance (and renewal or extension, as applicable) of such Letter of Credit. The Borrower also agrees to pay such the Issuer’s 's standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder, which fees shall be payable to such the Issuer within ten (10) days after demand.

Appears in 1 contract

Samples: Credit Agreement (Pinnacle Gas Resources, Inc.)

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Letter of Credit Issuance Fee. The Borrower agrees Borrowers agree to pay to each Issuer for its own account an issuance fee for each Letter of Credit issued by such the Issuer equal to the greater of (a) 0.125% per annum of the Stated Amount of such Letter of CreditCredit and (b) $750. Such fee shall be payable by the Borrower Borrowers on the date of issuance (and renewal renewal, extension, or extensionincrease, as applicable) of such Letter of Credit. The Borrower Borrowers also agrees agree to pay such the Issuer’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder, which fees shall be payable to such the Issuer within ten (10) days after demand.. Amended and Restated First Lien Credit Agreement

Appears in 1 contract

Samples: First Lien Credit Agreement (Milagro Oil & Gas, Inc.)

Letter of Credit Issuance Fee. The Borrower agrees to pay to each Issuer for its own account an issuance fee for each Letter of Credit issued by such Issuer equal to 0.125% per annum of the Stated Amount of such Letter of Credit (but not less than $500 per annum) for each Letter of Credit. Such fee shall be payable by the Borrower quarterly in arrears on the date of issuance (and renewal or extension, as applicable) of such Letter of Crediteach Quarterly Payment Date. The Borrower also agrees to pay such Issuer’s standard fees and expenses with respect to the issuance, amendment, assignment, renewal or extension of any Letter of Credit or processing of drawings or effecting payment thereunder, which fees shall be payable to such Issuer within ten (10) days after demand.

Appears in 1 contract

Samples: Credit Agreement (Dynamic Offshore Resources, Inc.)

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