Common use of Standby Letter of Credit Facility Clause in Contracts

Standby Letter of Credit Facility. The Borrower shall pay to the Bank on each Accommodation Date on which a Standby Letter of Credit Liability is established a Standby Letter of Credit Fee at the [*] rate calculated on the face value of the Standby Letter of Credit and computed from such date until the day on which the Standby Letter of Credit falls due for payment.

Standby Letter of Credit Facility. The Borrower shall pay to the Bank on each Accommodation Date on which a Standby Letter of Credit Liability is established a Standby Letter of Credit Fee at the rate of [*] rate per annum calculated on the face value of the Standby Letter of Credit and computed from such date until the day on which the Standby Letter of Credit falls due for payment.