Examples of Annual Letter of Credit Fee in a sentence
The Annual Letter of Credit Fee shall be payable by or on behalf of the Borrower in arrears on each Interest Payment Date, beginning on the date specified in Appendix A, upon receipt from the Trustee or the Program Administrator of an invoice therefor.
The Annual Letter of Credit Fee shall be calculated on the basis of a 360-day year and the actual number of days elapsed.
The Annual Letter of Credit Fee may be modified from time to time by the Bank as a condition to any extension of the Commitment Expiration Date.
Arrange suitable first aid m e a s u r e s such as First Aid Box, trained personnel to give First Aid, Stand by Ambulance or Vehicle and install fire protection measures such as: adequate number of steel buckets with sand and adequate fire extinguishers to the satisfaction of Project Architect/EIC.
Fixed Program Expenses (in addition to Annual Letter of Credit Fee set forth above and other anticipated annually recurring expenses) will equal 30 basis points (0.30%) multiplied by outstanding principal, payable monthly in arrears (based upon a year of 365/366 days, as applicable, and the actual number of days elapsed).
The amount of the installment of the Annual Letter of Credit Fee payable on any Fee Date shall be determined based on the Bank's projection of the average amount at any time by which $120,000,000 exceeds the balance of the Project Fund during the period to which such installment relates, and shall be adjusted at the end of such period based on the actual average amount of Bond Proceeds that were outstanding during such period.
On the Termination Date, the Annual Letter of Credit Fee shall be prorated for the period from the last Fee Date to the Termination Date, and any underpayment shall made by the Company to the Bank, or any overpayment shall be made by the Bank to the Company.
The aggregate of the interest payable with respect to the Loan at the Bond Fixed Rate, the Annual Agent's Fee and the Annual Letter of Credit Fee (as projected by the Bank) payable for any year during the term of the Letter of Credit shall not yield an effective rate of interest on the Loan in excess of 11% per annum.
The Annual Letter of Credit Fee shall be payable by the Company in advance installments, in immediately available funds, on the Initial Disbursement Date and on each February 1, May 1, August 1 and November thereafter (collectively, the FEE DATES).
Any resulting overpayment or underpayment of the Annual Letter of Credit Fee shall be credited against or paid by the Company together with, as the case may be, the next succeeding installment of the Annual Letter of Credit Fee.