Common use of Draw Fee Clause in Contracts

Draw Fee. (a) A draw fee accrues due from day to day on the daily amount of each Redraw Advance at the following rates: (i) the sum of 0.18% per annum and the Bank ▇▇▇▇ Rate calculated as of that date (if that date is a Reset Date) or (otherwise) the Reset Date immediately before that date, if the Redraw Advance has been outstanding for less than 12 months; and (ii) the sum of 0.30% per annum and the Bank ▇▇▇▇ Rate calculated as of that date (if that date is a Reset Date) or (otherwise) the Reset Date immediately before that date, if the Redraw Advance has been outstanding for 12 months or more. (b) Each draw fee is calculated on the actual number of days elapsed and a year of 365 days. (c) The Trust Manager directs the Trustee to, and the Trustee shall, pay to the Redraw Facility Provider any accrued draw fee in arrears on: (i) each Payment Date; and (ii) at the end of the Term. (d) The Bank ▇▇▇▇ Rate as at any date will be the Bank ▇▇▇▇ Rate determined: (i) if that date is a Payment Date, on that Payment Date; and (ii) on any other date, on the Payment Date immediately preceding that date.

Draw Fee. (a) A draw fee accrues due from day to day on the daily amount of each Redraw Advance at the following rates: (i) the sum of 0.18% [0.12%] per annum and the Bank ▇▇▇▇ Rate calculated as of that date (if that date is a Reset Date) or (otherwise) the Reset Date immediately before that date, if the Redraw Advance has been outstanding for less than 12 months; and (ii) the sum of 0.30% [0.22%] per annum and the Bank ▇▇▇▇ Rate calculated as of that date (if that date is a Reset Date) or (otherwise) the Reset Date immediately before that date, if the Redraw Advance has been outstanding for 12 months or more. (b) Each draw fee is calculated on the actual number of days elapsed and a year of 365 days. (c) The Trust Manager directs the Trustee to, and the Trustee shall, pay to the Redraw Facility Provider any accrued draw fee in arrears arrear on: (i) each Payment Date; and (ii) at the end of the Term. (d) The Bank ▇▇▇▇ Rate as at any date will be the Bank ▇▇▇▇ Rate determined: (i) if that date is a Payment Date, on that Payment Date; and (ii) on any other date, on the Payment Date immediately preceding that date.