LC Fronting Fees definition

LC Fronting Fees has the meaning set forth in the Agent Fee Letter.
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LC Fronting Fees has the meaning given in Section 2.4 of the Credit Agreement.
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Examples of LC Fronting Fees in a sentence

  • All L/C Participation Fees and L/C Fronting Fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).

  • All LC Participation Fees and LC Fronting Fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).

  • Unless otherwise agreed between such Participating Bank, such Fronting Bank and the Administrative Agent, the Several L/C Fronting Fee shall be paid quarterly in arrears and each Fronting Bank will invoice the Participating Banks for any Several L/C Fronting Fees owed to it.

  • Definitive Original Bonds in registered form in authorised denominations, if issued, will be delivered upon exchange of the Global Bond as provided therein.

  • Accrued L/C Participation Fees and L/C Fronting Fees shall be payable in arrears on the last day of March, June, September and December of each year, commencing on the first such date to occur after the Agreement Date; provided that all such fees shall be payable on the date on which the Revolving Commitments terminate and any such fees accruing after the date on which the Revolving Commitments terminate shall be payable on demand.

  • The L/C Participants shall have no right to receive any portion of any L/C Fronting Fees.

  • All L/C Participation Fees and L/C Fronting Fees shall be computed on the basis of a year of 365 days (or 366 days in a leap year) and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).

  • Such Revolving L/C Fronting Fees shall be due and payable (x) quarterly in arrears on the last Business Day of each fiscal quarter of the Borrower and (y) on the date upon which the Total Revolving Credit Commitment terminates and the applicable Revolving Letters of Credit Outstanding shall have been reduced to zero.

  • Notwithstanding the foregoing, if an Event of Default has occurred and is continuing, then, so long as such Event of Default is continuing, L/C Participation Fees and L/C Fronting Fees, as applicable, shall be calculated at a rate per annum equal to the Default Rate.

  • The Existing L/C Fronting Fees shall be deemed to have accrued as an Obligation hereunder and shall be due and payable on the first date upon which any other Letter of Credit fronting fee is due and payable hereunder.

Related to LC Fronting Fees

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

  • Fronting means a deliberate circumvention or attempted circumvention of the "Broad- Based Black Economic Empowerment Act and the Codes of Good Practice;

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

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

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