Credit Support Fee definition

Credit Support Fee means, for any Quarter, a reasonable fee for the provision of Net Credit Support during such Quarter in an amount determined in good faith by ▇▇▇▇ in its sole discretion but that shall not exceed the product of (a) the borrowing costs paid by the members of the Manager Group to provide Net Credit Support in the form of letters of credit during such Quarter under their credit facilities, expressed as a percentage of the face amount of such letters of credit, multiplied by (b) the aggregate amount of Net Credit Support outstanding during such Quarter, in each case (i) as calculated by ▇▇▇▇ in its sole discretion (whose calculation shall be conclusive absent manifest error) based on the weighted average amount of Net Credit Support outstanding during such Quarter, and (ii) subject to any changes to the Credit Support Fee for Net Credit Support that satisfies New Credit Support Obligations as agreed by ▇▇▇▇ and NEE Operating LP in accordance with Section 2.1.3. For illustrative purposes only, for the Quarter ended June 30, 2014, the percentage described in clause (a) of this definition is thirty-nine hundredths of one percent (0.39%), which percentage, for the avoidance of doubt, shall be adjusted in accordance with changes to the borrowing costs described in clause (a);
View Source
Credit Support Fee means the sum of the Monthly Credit Support Fee for each calendar month beginning on the day after the Closing Effective Date and ending on and including the Closing Date; provided, that, for any partial calendar month, the Monthly Credit Support Fee shall be pro rated for the number of days in that month through and including the Closing Date.
View Source
Credit Support Fee has the meaning set forth in Section 2.7(a).
View Source

Examples of Credit Support Fee in a sentence

  • The aggregate cash purchase price payable at the Closing for the Units shall be an amount equal to (a) the Base Purchase Price, (b) minus the Estimated Distribution Amount, (c) plus the Ticking Fee, (d) plus the Portfolio Management Fee, (e) plus the Credit Support Fee, and (f) minus the Casualty Event Adjustment (such aggregate amount, the “Estimated Purchase Price”, and as adjusted pursuant to Section 2.4, the “Closing Purchase Price”).

  • Purchasers shall prepare and deliver to Sellers not later than forty five (45) days after the Closing Date a statement (the “Final Statement”) setting forth: Purchasers’ good faith calculations of the Closing Date Distribution Amount, the Permitted Distribution Amount, the Ticking Fee, the Portfolio Management Fee, the Credit Support Fee, the Casualty Event Adjustment, and the resulting calculation of the Closing Purchase Price based on the foregoing, along with reasonable supporting documentation.


More Definitions of Credit Support Fee

Credit Support Fee has the meaning set forth in the Loan Summary.
View Source
Credit Support Fee has the meaning set forth in Section 4.4 of this Settlement Agreement.
View Source
Credit Support Fee means, for any day, an amount calculated as follows:
View Source
Credit Support Fee means (i) with respect to the period beginning on the Closing Date and ending on the date that is twelve (12) months following the Closing Date (the “First Credit Support Period”), an amount equal to 2% of the weighted average of the guaranteed amounts under the Seller Credit Support outstanding during the First Credit Support Period; (ii) with respect to the period beginning on the date that is twelve (12) months following the Closing Date and ending on the date that is eighteen (18) months following the Closing Date (the “Second Credit Support Period”), an amount equal to 4% of the weighted average of the guaranteed amounts under the Seller Credit Support outstanding during the Second Credit Support Period; and (iii) with respect to the period beginning on the date that is eighteen (18) months following from the Closing Date and ending on the date that is twenty-four (24) months following the Closing Date (the “Third Credit Support Period” and, together with the First Credit Support Period and the Second Credit Support Period, the “Credit Support Periods”), an amount equal to 6% of the weighted average of the guaranteed amounts under the Seller Credit Support outstanding during the Third Credit Support Period.
View Source