Common use of L/C Fees Clause in Contracts

L/C Fees. The Borrower agrees to pay (i) to the Administrative Agent for the account of the Revolving Lenders a fee (the “L/C Participation Fee”) in Dollars for each standby Letter of Credit, at a rate per annum equal to the Applicable Margin multiplied by the average daily amount available to be drawn under such Letter of Credit, and (ii) to the L/C Issuer for its own account a fee (the “L/C Fronting Fee”), which shall accrue at the rate or rates per annum separately agreed upon between the Borrower and the L/C Issuer on the average daily amount of the L/C Obligations (excluding any portion thereof attributable to unreimbursed L/C Disbursements) during the period from and including the Closing Date to but excluding the later of the date of termination of the Revolving Commitments and the date on which there ceases to be any L/C Obligations, as well as the L/C Issuer’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. 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. Any other fees payable to the L/C Issuer pursuant to this paragraph shall be payable within 10 days after demand. 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). 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.

L/C Fees. The Borrower agrees shall pay to pay (i) to the Administrative Agent for the account of the Revolving Lenders a (to be paid by Agent to each Lender (other than any Defaulting Lender) in accordance with its Applicable Percentage) an aggregate fee (the “L/C Participation Fee”) in Dollars for the issuance of each standby Letter of Credit, at a rate Credit in an amount per annum equal to the greater of the Applicable Margin multiplied by Rate applicable to Eurodollar Rate Loans times the average daily maximum face amount available to be drawn under such of the Letter of Credit, and (ii) to the Credit determined in accordance with Section 1.06 or $1,000. Such L/C Issuer for its own account a fee (the “L/C Fronting Fee”), which Fee shall accrue at the rate or rates per annum separately agreed upon between the Borrower and the L/C Issuer on the average daily amount of the L/C Obligations (excluding any portion thereof attributable to unreimbursed L/C Disbursements) during the period from and including the Closing Date to but excluding the later of the date of termination of the Revolving Commitments and the date on which there ceases to be any L/C Obligations, as well as the L/C Issuer’s standard fees with respect payable prior to the issuance, amendment, renewal or extension issuance of any each Letter of Credit or processing of drawings thereunder. Accrued L/C Participation Fees and L/C Fronting Fees shall be payable thereafter in monthly installments in arrears on the last day of March, June, September and December Business Day of each yearmonth, commencing on the first such date to occur after the Agreement Date; provided that all issuance of such fees shall be payable Letter of Credit, 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. Any other fees payable to the L/C Issuer pursuant to this paragraph shall be payable within 10 days after Expiration Date and thereafter on demand. All If there is any change in the Applicable Rate during any quarter, the L/C Participation Fees Fee shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, upon request of the Majority Lenders, while any Event of Default exists, all accrued and unpaid L/C Fronting Fees shall be computed on bear interest at the basis of a year of 365 days (or 366 days in a leap year) Default Rate. The Administrative Agent shall have exclusive dominion and shall be payable for the actual number of days elapsed (control, including the first day but excluding exclusive right of withdrawal, over the last day). 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 Collection Account. Other than any interest earned on the investment of such deposits, which investments shall be made at the option and sole discretion of the Administrative Agent and at the Borrower’s risk and expense, such deposits shall not bear interest. Interest or profits, if any, on such investments shall accumulate in the L/C Fronting Fees, as applicable, shall be calculated at a rate per annum equal to the Default RateCollection Account.

L/C Fees. The Borrower agrees Borrowers agree to pay (i) to the Administrative Agent Agent, for the account of the Revolving Lenders Lenders, a fee (the “L/C Participation Fee”) in Dollars for each standby Letter of Credit, at a rate per annum equal to the Applicable Margin multiplied by the average daily amount available to be drawn under such Letter of Credit, and (ii) to the each applicable L/C Issuer for its own account a fee (the “L/C Fronting Fee”), which shall accrue at the rate or rates per annum separately agreed upon between the Borrower Borrowers and the such L/C Issuer on the average daily amount of the L/C Obligations attributable to Letters of Credit issued by such L/C Issuer (excluding any portion thereof attributable to unreimbursed L/C Disbursements) during the period from and including the Closing Date to but excluding the later of the date of termination of the Revolving Commitments and the date on which there ceases to be any L/C Obligations, as well as the such L/C Issuer’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. 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. Any other fees payable to the any L/C Issuer pursuant to this paragraph shall be payable within 10 ten days after demand. All L/C Participation Fees and L/C Fronting Fees shall be computed on the basis of a year of 365 360 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). Notwithstanding the foregoing, if an Event of Default has occurred and is continuingcontinuing and the Administrative Agent (in the case of L/C Participation Fees) or any applicable L/C Issuer (in the case of L/C Fronting Fees) so notifies Lead Borrower (provided that no such notification shall be required, and the following interest shall automatically be payable, in the case of an Event of Default under Sections 8.1(a), (b), (h) or (i)), 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.

L/C Fees. The Borrower agrees to pay (i) The Borrowers agree to pay to the Administrative Agent Agent, for the account of the each Revolving Lenders Lender, a letter of credit fee (the “L/C Participation Fee”) in Dollars for with respect to each standby Letter of Credit, at a rate per annum Credit issued by the Issuing Lender in an amount equal to the Applicable Margin Dollar Equivalent of the average daily undrawn amount of such issued Letters of Credit multiplied by the average daily amount available to be drawn under such Letter of Credit, and Applicable Percentage for LIBOR Rate Loans then in effect. (ii) to the The L/C Issuer for its own account a fee (the “L/C Fronting Fee”), which shall accrue at the rate or rates per annum separately agreed upon between the Borrower and the L/C Issuer on the average daily amount of the L/C Obligations (excluding any portion thereof attributable to unreimbursed L/C Disbursements) during the period from and including the Closing Date to but excluding the later of the date of termination of the Revolving Commitments and the date on which there ceases to be any L/C Obligations, as well as the L/C Issuer’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Accrued L/C Participation Fees and L/C Fronting Fees shall be payable quarterly in arrears on the 15th day following the last day of March, June, September and December of each yearcalendar quarter for the prior calendar quarter, commencing on with the first such date to occur after the Agreement Closing Date; provided that all such fees shall be payable , and on the date Maturity Date (and, if applicable, thereafter on which demand). (iii) The Administrative Agent shall, promptly following its receipt thereof, distribute to the Revolving Commitments terminate and any such fees accruing after the date on which the Revolving Commitments terminate shall be payable on demand. Any other fees payable to Lenders the L/C Issuer pursuant to this paragraph shall be payable within 10 days after demand. All Fee received by the Administrative Agent in accordance with their respective Ratable Share; provided that (A) any L/C Participation Fees and L/C Fronting Fees that accrue in favor of a Defaulting Lender shall be computed on paid to the basis of a year of 365 days (or 366 days in a leap year) and shall be payable Issuing Lender for the actual number of days elapsed (including the first day but excluding the last day). Notwithstanding the foregoing, if an Event of Default has occurred and is continuing, then, its own account for so long as such Event of Default is continuing, Lender shall be a Defaulting Lender and (B) any L/C Participation Fees accrued in favor of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and L/C Fronting Fees, as applicable, unpaid at such time shall be calculated at a rate per annum equal paid to the Default RateIssuing Lender for its own account for so long as such Lender shall be a Defaulting Lender.