Standby Fee Clause Samples
A Standby Fee clause establishes a payment obligation for a party to compensate another for maintaining readiness to perform a service or provide resources, even if those services or resources are not ultimately used. Typically, this fee is paid to ensure that personnel, equipment, or facilities remain available on short notice, such as in construction projects or equipment rentals. The core function of this clause is to allocate costs associated with reserving capacity and to incentivize the provider to remain prepared, thereby ensuring reliability and minimizing disruption for the party requiring standby services.
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Standby Fee. Subject to Section 13.10, the Trust shall pay to the Liquidity Agent a standby fee with respect to the Available Lenders' Commitment hereunder calculated at the rate(s) per annum and payable in the manner specified in agreements reached between the Trust and the Liquidity Agent, from time to time.
Standby Fee. Upon the first Banking Day following completion of each Fiscal Quarter and on the termination of the Credit Facility, the Borrower shall pay in accordance with Section 3.6, to the Lenders, in arrears, a standby fee, calculated at the rate per annum, on the basis of a year of 365 days, equal to the Applicable Rate on the daily Available Credit during the most recently completed Fiscal Quarter, such fee to accrue daily from the date of the execution and delivery of this agreement to and including the termination of Credit Facility.
Standby Fee. The Borrower shall pay the Standby Fee to the Lender for the period from the date of this Agreement to the end of the Term of this Agreement. The Standby Fee shall be payable monthly, in arrears, on the first Business Day following the end of the month, except that the Standby Fee for the last month during the Term of this Agreement shall be paid on the last day of the Term of this Agreement.
Standby Fee. The Borrower will pay to the Agent for the rateable benefit of the Lenders, a standby fee on the unused portion of the aggregate amount of the Commitments. The standby fee will be calculated daily from the date of this Agreement at an annual rate equal to [Redacted: percentage]% per annum. The standby fee will be payable quarterly to the Agent in arrears on the first Business Day of each Fiscal Quarter.
Standby Fee. The Borrower shall pay to the Administrative Agent a standby fee in Canadian Dollars so long as the Administrative Agent has not demanded or the Lenders have not ceased to make further advances under Section 11.2, calculated in accordance with the Applicable Margin on the amount of the Undisbursed Credit in existence during the period of calculation and as adjusted automatically upon any change thereof. Accrued standby fees shall be calculated quarterly and be due and payable quarterly in arrears on the first Business Day after the end of each quarter of each Fiscal Year of the Borrower.
Standby Fee. The Borrowers agree to pay a non-refundable standby fee (the “Standby Fee”) to the Agent for the account of the Lenders, calculated at a rate per annum on the basis of a year of 365 days, or 366 days in the case of a leap year, equal to the Standby Fee Rate on the daily unadvanced portion of the Credit Facility. The Standby Fee shall be calculated and accrue daily from the date hereof and shall be payable quarterly in arrears on the last Business Day of each calendar quarter and on the Maturity Date of the Credit Facility.
Standby Fee. Upon the first Banking Day following completion of each Fiscal Quarter and on the termination of the Credit Facility, the Borrower shall pay in accordance with Section 3.8, to the Lenders, in arrears, a standby fee calculated at the rate per annum, on the basis of a year of 365 days, equal to the Applicable Rate on the daily Available Credit during the most recently completed Fiscal Quarter, such fee to accrue daily from the date of the execution and delivery of this agreement to and including the termination of the Credit Facility. Notwithstanding the foregoing, standby fees shall cease to accrue on the unfunded portion of the Individual Commitment of any Lender while it is a Defaulting Lender.
Standby Fee. The Borrower shall pay the Lender a standby fee in respect of the Credit Facility at the rate of 0.2% per annum (based on a year of 365 or 366 days, as the case may be) on the Available Commitment, expressed in Canadian Dollars and calculated on a daily basis and compounded and payable quarterly in arrears on the last Business Day of January, April, July and October in each year and on the Termination Date.
Standby Fee. The Borrower agrees to pay to the Lender a standby fee (the "Standby Fee") with respect to the undrawn portion of the Loan, calculated on a daily basis from the Effective Date, notwithstanding the non-fulfillment of any conditions precedent to any Advances under the Loan after the Effective Date, equal to the difference between (i) the Loan Limit; and (ii) the outstanding Advances under the Loan as at the date of calculation, multiplied by 2% per annum (calculated on the basis of a 365-day year for the actual days elapsed), which Standby Fee shall be compounded quarterly and payable in arrears on each Interest Payment Date following the Effective Date commencing September 30, 2022. The accrual of Standby Fee will terminate on the earlier of expiry under Section 2.2 or cancellation under Section 2.4.
Standby Fee. (a) The Borrower shall pay to the Agent, for the account of each Lender, a standby fee in U.S. Dollars calculated on the amount, if any, by which the amount of the Outstandings owing to such Lender for each day in the term of the Credit Facility is less than such Lender’s Commitment, as applicable, in each case at the rate per annum equal to the Standby Fee Margin and computed on the basis of the number of days in the relevant period of determination. Fees determined in accordance with this Section shall accrue daily from and after the Effective Date and be payable by the Borrower in accordance with Section 3.6(b), until the Maturity Date.
(b) The standby fees referred to in Section 3.6(a) shall accrue daily on the basis of a year of 365 days and shall be payable quarterly in arrears on the third Banking Day following the end of each Fiscal Quarter.
(c) In order to calculate the daily Outstandings owing to each Lender for the purposes of this Section 3.6, the Agent shall convert any Advances in any currency other than U.S. Dollars into the U.S. Equivalent thereof.