Letter of Credit Fee Payment Date definition

Letter of Credit Fee Payment Date means, with respect to any Letter of Credit, the date of issuance thereof and the last Business Day of each March, June, September and December which occurs after the date of issuance, but prior to the expiry date of said Letter of Credit.
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Letter of Credit Fee Payment Date means the last Business Day of each March, June, September and December, commencing June 30, 2007 and the last day of the Revolving Facility Commitment Period with respect to the Revolving Letters of Credit or the last day of the Backstop LC Facility Commitment Period with respect to the Backstop Letters of Credit (as applicable).
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Letter of Credit Fee Payment Date means, with respect to each Letter of Credit, the Letter of Credit Issuance Date and quarterly thereafter beginning on the first day of the third calendar month following the Letter of Credit Issuance Date and on the first day of each third calendar month thereafter (the exact dates to be included in the Enhancement Custodial Agreement on the Letter of Credit Issuance Date).
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Examples of Letter of Credit Fee Payment Date in a sentence

  • The Obligor hereby agrees to pay to the LOC Provider the Letter of Credit Fee payable with respect to each Letter of Credit, without notice or demand, in immediately available funds in advance on the Letter of Credit Issuance Date and quarterly thereafter on each applicable Letter of Credit Fee Payment Date.

  • The representations and warranties in this Clause 20 shall be deemed repeated on each Letter of Credit Fee Payment Date prior to the Final Discharge Date in each case by reference to the facts and circumstances then existing.

  • The Letter of Credit Fee payable on the date of issuance of a Letter of Credit shall be in an amount equal to the Letter of Credit Fee applicable to such Letter of Credit on the basis of the then Stated Amount for the period from the date of issuance of such Letter of Credit to the next occurring Letter of Credit Fee Payment Date.

  • In the event subsequent occurrences reduce the amount or duration of the Banks' liability under a Letter of Credit below the amount or duration used in making the above calculations, the Agent and each Bank will credit to Borrower, on the next to occur of a Letter of Credit Fee Payment Date or the Revolving Credit Termination Date, the appropriate portion of the Letter of Credit Fee received by such party if the amount refundable by such Bank or the Agent exceeds $100.


More Definitions of Letter of Credit Fee Payment Date

Letter of Credit Fee Payment Date has the meaning given to such term in Clause 11.1.2 (Fee payable in respect of Letters of Credit).
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Letter of Credit Fee Payment Date has the meaning assigned to --------------------------------- such term in Section 3.20.
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Related to Letter of Credit Fee Payment Date

  • Letter of Credit Fee has the meaning specified in Section 2.03(h).

  • Letter of Credit Fees shall have the meaning set forth in Section 3.2.

  • Letter of Credit Fee Rate means, at any time, the percentage rate per annum applicable to Letter of Credit Fees at such time as set forth in the Pricing Schedule.

  • Applicable Letter of Credit Fee Rate means the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Letter of Credit Fee.”

  • Applicable Letter of Credit Fee Rate shall mean the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Letter of Credit Fee.” Applicable Margin shall mean, as applicable:

  • Applicable Unused Commitment Fee Rate means 0.50% per annum.

  • Commitment Fee has the meaning specified in Section 2.09(a).

  • Letter of Credit Termination Date means the fifth Domestic Business Day prior to the Termination Date.

  • Undrawn Fee Rate For any VFN Class, the rate set forth or described in the related Indenture Supplement, if any. United States and U.S.: The United States of America.

  • Commitment Fee Rate has the meaning set forth in the definition of “Applicable Margin”.

  • Applicable Commitment Fee Rate means:

  • Unused Commitment Fee Rate has the meaning given to such term in the Fee Letter.

  • Applicable Commitment Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.14(C)(i) hereof determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • Standby Letter of Credit Fee shall have the meaning assigned to such term in Section 3.5(b)(i).

  • Commitment Fee Percentage means, with respect to the Revolving Loan Commitments at any time, the per annum percentage which is used to calculate Commitment Fees for such Revolving Loan Commitments determined pursuant to the Pricing Grid.

  • Applicable Unused Line Fee Percentage means, as of any date of determination, the applicable percentage set forth in the following table that corresponds to the Average Revolver Usage of Borrowers for the most recently completed month as determined by Agent in its Permitted Discretion; provided, that for the period from the Closing Date through and including February 28, 2015, the Applicable Unused Line Fee Percentage shall be set at the rate in the row styled "Level II"; provided further, that any time an Event of Default has occurred and is continuing, the Applicable Unused Line Fee Percentage shall be set at the margin in the row styled "Level II": Level Average Revolver Usage Applicable Unused Line Fee Percentage I > 50% of the Maximum Revolver Amount 0.25 percentage points II < 50% of the Maximum Revolver Amount 0.375 percentage points The Applicable Unused Line Fee Percentage shall be re-determined on the first date of each fiscal month of Borrowers by Agent.

  • Applicable Facility Fee Rate means, at any time, the percentage rate per annum at which Facility Fees are accruing on the Aggregate Commitment (without regard to usage) at such time as set forth in the Pricing Schedule.

  • Applicable Facility Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.14(C)(i) hereof determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • Applicable Commitment Fee Margin means, for each Pricing Period, the margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: Applicable Pricing Level Margin II 10.0 V 17.5

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • Unused Facility Fee has the meaning specified in Section 2.09(a).

  • Unused Fee has the meaning specified in Section 2.09(a).

  • Unused Letter of Credit Subfacility means an amount equal to the Letter of Credit Subfacility minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate Unpaid Drawings obligations with respect to a Letters of Credit.

  • Facility Fee Percentage means the applicable percentage per annum ----------------------- determined, at any time, based on the range into which Borrower's Credit Rating (if any) then falls, in accordance with the following tables. Any change in the Facility Fee Percentage shall be effective immediately as of the date on which any of the rating agencies announces a change in the Borrower's Credit Rating or the date on which the Borrower has no Credit Rating, whichever is applicable. The Facility Fee Percentage during the time, from time to time, that the Borrower maintains an Investment Grade Credit Rating by either Xxxxx'x or S&P shall be as follows: Range of Borrower's Credit Rating Percentage of S&P/Moody's Ratings Maximum Credit Amount ------------------- --------------------- below BBB-/Baa3 0.00% BBB-/Baa3 0.20% BBB/Baa2 0.20% BBB+/Baa1 0.15% A-/A3 0.15% If at any time the Borrower has a Credit Rating by both Moody's and S&P which Credit Ratings are split, then: (A) if the difference between such Credit Ratings is one ratings category (e.g. Baa2 by Moody's and BBB- by S&P), the Facility Fee Percentage shall be the rate per annum that would be applicable if the highest of the Credit Ratings were used; and (B) if the difference between such Credit Ratings is two ratings category (e.g. Baa1 by Moody's and BBB- by S&P), the Facility Fee Percentage shall be the rate per annum that would be appli- cable if the median of the applicable Credit Ratings is used.

  • Unused Revolving Line Facility Fee is defined in Section 2.4(c). [Signature page follows.]

  • Facility Fee Rate means a rate per annum determined in accordance with the Pricing Schedule.