Common use of Fronting Fee Clause in Contracts

Fronting Fee. Subject to Section 11.9 hereof, the Borrower shall pay to the Administrative Lender for the account of the Issuing Bank a fronting fee (which fee shall accrue beginning on the Agreement Date and shall be payable quarterly in arrears on each Quarterly Date and on the Maturity Date) equal to 0.125% per annum of the average daily amount available for drawing under all outstanding Standby Letters of Credit, which fronting fee, subject to Section 11.9 hereof, shall be computed on the basis of a 360-day year for the actual number of days elapsed.

Appears in 1 contract

Sources: Credit Agreement (Compusa Inc)

Fronting Fee. Subject to Section 11.9 hereof, the Borrower shall pay to the Administrative Lender Agent for the account of the Issuing Bank a per annum fronting fee (which fee shall accrue beginning on the Agreement Date and shall be payable quarterly in arrears on each Quarterly Date and on the Revolving Commitment Maturity Date) in an amount equal to the product of (a) 0.125% per annum of times (y) the average daily amount available for drawing under all outstanding Standby Letters of Credit, which fronting fee, subject . Subject to Section 11.9 hereof, such fee shall be computed on the basis of a 360-day year for the actual number of days elapsed.

Appears in 1 contract

Sources: Credit Agreement (Netcom Systems Inc)

Fronting Fee. Subject to Section 11.9 hereof, the Borrower ------------ ------------ shall pay to the Administrative Lender Agent for the account of the Issuing Bank a per annum fronting fee (which fee shall accrue beginning on the Agreement Date and shall be payable quarterly in arrears on each Quarterly Date and on the Revolving Commitment Maturity Date) in an amount equal to 0.125the product of (a) 0.25% per annum of times (b) the average daily amount available for drawing under all outstanding Standby Letters of Credit, which fronting fee, subject . Subject to Section 11.9 hereof, such fee shall be computed on the basis of a 360-day ------------ year for the actual number of days elapsed.

Appears in 1 contract

Sources: Credit Agreement (Doskocil Manufacturing Co Inc)

Fronting Fee. Subject to Section 11.9 hereof, the Borrower shall ------------ ------------ pay to the Administrative Lender for the account of the Issuing Bank a fronting fee (which fee shall accrue beginning on the Agreement Date and shall be payable quarterly in arrears on each Quarterly Date and on the Maturity Date) in an amount equal to 0.1250.10% per annum of on the average daily amount available for drawing under all outstanding Standby Letters of Credit, which fronting feecomputed, subject to Section 11.9 hereof, shall be computed on the basis of a 360-day year ------------ for the actual number of days elapsed.

Appears in 1 contract

Sources: Credit Agreement (Signature Resorts Inc)

Fronting Fee. Subject to Section 11.9 hereof, the Borrower shall pay to the Administrative Lender for the account of the Issuing Bank a fronting fee (which fee shall accrue beginning on the Agreement Date and shall be payable quarterly in arrears on each Quarterly Date and on the Maturity Date) in an amount equal to 0.1250.10% per annum of on the average daily amount available for drawing under all outstanding Standby Letters of Credit, which fronting feecomputed, subject to Section 11.9 hereof, shall be computed on the basis of a 360-day year for the actual number of days elapsed.

Appears in 1 contract

Sources: Credit Agreement (Sunterra Corp)