Common use of LC Fee Clause in Contracts

LC Fee. The Borrower shall pay to the Administrative Agent, for the account of the Lenders ratably in accordance with their respective Pro Rata Shares, with respect to each Facility LC, a letter of credit fee at a per annum rate equal to the Applicable Margin for Eurodollar Loans in effect from time to time on the average daily undrawn stated amount under such Facility LC, such fee to be payable quarterly in arrears on each Payment Date (such fee described in this sentence, the “LC Fee”). The Borrower shall also pay to the relevant LC Issuer for its own account (x) a fronting fee in respect of each Facility LC issued by such LC Issuer, in an amount, and payable at such times, to be agreed upon between such LC Issuer and the Borrower, and (y) documentary and processing charges in connection with the issuance or Modification of and draws under Facility LCs in accordance with such LC Issuer’s standard schedule for such charges as in effect from time to time.