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 specified in Section 2.9.3(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 LOC Utilization Fee and LOC Fronting Fee accrued during any calendar quarter (or portion thereof) shall be payable on the third Business Day following the end of such quarter.

  • 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.

  • 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.

  • 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.