LOC Fronting Fee definition

LOC Fronting Fee means the non-refundable, fully-earned fee equal to 0.125% per annum of the undrawn face amount of each Letter of Credit issued, renewed or extended by the Issuing Bank.
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LOC Fronting Fee shall have the meaning assigned thereto in Section 2.5(b).
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LOC Fronting Fee means the letter of credit fronting fee to be paid by Borrower on the outstanding portion of any Letter of Credit at the rate of 0.15% per annum, calculated and payable in accordance with Section 2.6 hereof. LOC Reimbursement Obligation,
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Examples of LOC Fronting Fee in a sentence

  • The Credit-Linked LOC Fronting Fee shall be payable at the time of issuance and of renewal of the applicable Credit-Linked Letter of Credit.

  • Borrower hereby authorizes Agent to make an Advance in the amount of the Commitment Fee or LOC Fronting Fee when due and credit the Term Loan balance by such amount, whether or not an Application for Advance has been submitted by Borrower.

  • The Borrower agrees to pay to the Credit-Linked Issuing Lender, for its own account without sharing by the Credit-Linked Lenders, a fronting fee (the "Credit-Linked LOC Fronting Fee") of one-tenth of one percent (0.10%) per annum on the average daily maximum amount available to be drawn under each Credit-Linked Letter of Credit (other than an Existing Letter of Credit) issued by it.

  • Borrower shall pay to the Letter of Credit Bank the LOC Fronting Fee for the outstanding portion of any Letters of Credit and shall pay to the Agent the Agency Fee on the date hereof and each anniversary thereof.

  • The LOC Fronting Fee shall be computed based upon the average daily balance of outstanding Letters of Credit during each three (3) month period from the date hereof payable in arrears on the last day of each such three (3) month periods and on the last Term Loan Repayment Date.

  • In addition to such Revolving LOC Commitment Fee, the Borrower agrees to pay to the Revolving Issuing Lender, for its own account without sharing by the Revolving Lenders, an additional fronting fee (the "Revolving LOC Fronting Fee") of one-quarter of one percent (0.25%) per annum on the average daily maximum amount available to be drawn under each Revolving Letter of Credit issued by it.

Related to LOC Fronting Fee

  • Fronting Fee shall have the meaning provided in Section 4.1(c).

  • Drawing Fee means, with respect to each Draft drawn by TCCI and purchased by any Person on any Drawing Date and subject to the provisions of Section 2.15, an amount equal to the product of (i) the Applicable Rate times the aggregate Face Amount of the Draft, multiplied by (ii) a fraction the numerator of which is the number of days in the term to maturity of such Draft and the denominator of which is 365 or 366, as applicable.

  • LC Fee is defined in Section 2.19.4.

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

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

  • Participation Fee means the amount payable by the Participant to the Council for the right to participate in the Hong Kong Pavilion at the Exhibition, as specified in Section I of the Application Form.

  • 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 Fronting Exposure means, with respect to any Person that is an Issuing Bank at any time, the sum of (a) the aggregate amount of all Letters of Credit issued by such Person in its capacity as an Issuing Bank (if applicable) that remains available for drawing at such time and (b) the aggregate amount of all LC Disbursements made by such Person in its capacity as an Issuing Bank (if applicable) that have not yet been reimbursed by or on behalf of the Borrower at such time.

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

  • Unused Commitment Fee has the meaning specified in Section 2.12(a) (Fees).

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

  • Issuing Bank Fees shall have the meaning assigned to such term in Section 2.12(b).

  • Facing Fee shall have the meaning provided in Section 3.01(c).

  • Facility Fees has the meaning provided in Section 2.11(a).

  • Ticking Fee has the meaning specified in Section 2.09(b).

  • Applicable Commitment 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 “Commitment Fee.”

  • L/C Participation Fee shall have the meaning assigned to such term in Section 2.05(c).

  • Applicable Facility Fee means the percentage set forth in the table below corresponding to the Level at which the “Applicable Margin” is determined in accordance with the definition thereof: Level Facility Fee 2 0.125% 3 0.150% 4 0.200% 5 0.250%

  • Issuing Lender Fees shall have the meaning set forth in Section 2.5(c).

  • Defaulting Lender Fronting Exposure means, at any time there is a Defaulting Lender, (a) with respect to the Issuing Bank, such Defaulting Lender’s Applicable Percentage of the outstanding Letter of Credit obligations other than Letter of Credit obligations as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or cash collateralized in accordance with the terms hereof, and (b) with respect to the Swingline Lender, such Defaulting Lender’s Applicable Percentage of Swingline Loans other than Swingline Loans as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or cash collateralized in accordance with the terms hereof.

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

  • 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.

  • LC Payment Date is defined in Section 2.20.5.

  • Letter of Credit Undrawn Amounts means, at any time, the aggregate undrawn face amount of all Letters of Credit outstanding at such time.

  • LC Participation Fee shall have the meaning assigned to such term in Section 2.05(c).

  • Standby LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all standby Letters of Credit outstanding at such time plus (b) the aggregate amount of all LC Disbursements relating to standby Letters of Credit that have not yet been reimbursed by or on behalf of the Borrowers at such time. The Standby LC Exposure of any Revolving Lender at any time shall be its Applicable Percentage of the aggregate Standby LC Exposure at such time.