Standby Letter of Credit Fee definition

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

Standby Letter of Credit Fee has the meaning specified in Section 3.05 hereof.

Standby Letter of Credit Fee has the meaning specified in Section 2.03(i).

Examples of Standby Letter of Credit Fee in a sentence

• The Standby Letter of Credit Fee will be payable quarterly in arrears on the last Business Day of each March, June, September and December for the immediately preceding quarter (or a portion thereof).

• In consideration of the issuance of standby Letters of Credit hereunder, the Borrower promises to pay to the Agent for the account of each Lender a fee (the "Standby Letter of Credit Fee") on such Lender's Commitment Percentage of the average daily maximum amount available to be drawn under each such standby Letter of Credit computed at a per annum rate for each day from the date of issuance to the date of expiration equal to the Applicable Percentage.

• The applicable Issuing Lender shall promptly pay over to the Administrative Agent for the ratable benefit of the Lenders (including the applicable Issuing Lender) the Standby Letter of Credit Fee and the Trade Letter of Credit Fee.

• The Standby Letter of Credit Fee, the Trade Letter of Credit Fee and the Fronting Fee shall be payable quarterly in arrears on the 15th day following the last day of each calendar quarter for the prior calendar quarter.

• Agent shall pay each Participating Bank its Pro Rata Share of each Trade Letter of Credit Fee and Standby Letter of Credit Fee.

More Definitions of Standby Letter of Credit Fee

Standby Letter of Credit Fee shall have the meaning set forth in Section 2.4(c).

Standby Letter of Credit Fee has the meaning assigned to such term in Section 2.6(f).

Standby Letter of Credit Fee means the applicable per annum percentage set forth in the definition of “Applicable Rates”.

Standby Letter of Credit Fee means ----------------------------

Standby Letter of Credit Fee means with respect to any Standby Letter of Credit issued hereunder and the Existing Letters of Credit which are Standby Letters of Credit, the applicable percentage specified corresponding to the Average Excess Availability, as set forth below, subject to adjustment from time to time thereafter: 44 Level Average Excess Availability Applicable Percentage I Greater than 50% of the Loan Cap 1.25% II Less than or equal to 50% of the Loan Cap 1.50% From the Effective Date through the last day of the first full Fiscal Quarter following the Effective Date (ending May 2, 2015), the Standby Letter of Credit Fee shall be 1.50% per annum. The Standby Letter of Credit Fee Percentage shall thereafter be adjusted quarterly upon the Administrative Agent’s furnishing the Lead Borrower with a calculation of Average Excess Availability for the immediately preceding Fiscal Quarter, which calculation shall be furnished within four (4) Business Days after the end of each Fiscal Quarter. Any such adjustment shall become effective prospectively on and after the sixth Business Day after the end of each Fiscal Quarter. If a Default or Event of Default exists at the time any reduction in the Standby Letter of Credit Fee is to be implemented, such reduction shall not occur until the first day of the first calendar month following the date on which such Default or Event of Default is waived or cured, and at the option of the Administrative Agent or at the direction of the Required Lenders upon the occurrence and during the continuance of an Event of Default, the Standby Letter of Credit Fee shall be set at Level II and shall be determined in the manner set forth in Section 2.14(a)(iii) hereof; provided further if any Borrowing Base Certificates are at any time restated or otherwise revised (including as a result of an audit) or if the information set forth in any Borrowing Base Certificates otherwise proves to be false or incorrect as of the date of such Borrowing Base Certificate such that the Standby Letter of Credit Fee would have been higher than was otherwise in effect during any period, without constituting a waiver of any Default or Event of Default arising as a result thereof, such Standby Letter of Credit Fee due under this Agreement shall be immediately recalculated at such higher rate for any applicable periods and shall be due and payable on demand.

Standby Letter of Credit Fee means with respect to any Standby Letter of Credit issued hereunder and the Existing Letters of Credit which are Standby Letters of Credit, the applicable percentage specified corresponding to the Average Excess Availability, as set forth below, respectively, in each case subject to adjustment from time to time thereafter:

Standby Letter of Credit Fee means, for each Pricing Period, the per annum rate set forth as the interest rate margin in the definition of "Eurodollar Margin" opposite the Pricing Level for that Pricing Period.