Common use of Canadian Facility Fee Clause in Contracts

Canadian Facility Fee. Subject to Section 8.8, the Borrower agrees to pay to the Canadian Administrative Agent, for the account of each Canadian Bank, a Canadian facility fee on the average daily amount of such Canadian Bank’s Canadian Allocated Commitment, whether or not used, during any Canadian Allocation Period. The Canadian facility fee is due on the last Canadian Business Day of each March, June, September and December during any Canadian Allocation Period and on the last day of each Canadian Allocation Period, and on the date such Canadian Bank’s Canadian Allocated Commitment is terminated. The rate per annum of the Canadian facility fee for each calendar quarter shall be determined as provided in Schedule I based on the Rating Level in effect on the first day of such quarter. As provided in Section 2.3, the Borrower may at its option pay such Canadian facility fee together with any facility fee owing to the Banks pursuant to Section 2.3(a) pursuant to a single payment to the Administrative Agent for the benefit of the Banks and the Canadian Banks, respectively; provided, the Borrower shall so specify to the Administrative Agent that such payment is with respect to both the Canadian facility fee hereunder and such facility fee.

Canadian Facility Fee. Subject to Section 8.8, the Borrower agrees to pay to the Canadian Administrative Agent, for the account of each Canadian Bank, a Canadian facility fee on the average daily amount of such Canadian Bank’s 's Canadian Allocated Commitment, whether or not used, during any Canadian Allocation Period. The Canadian facility fee is due on the last Canadian Business Day of each March, June, September and December during any Canadian Allocation Period and on the last day of each Canadian Allocation Period, and on the date such Canadian Bank’s 's Canadian Allocated Commitment is terminated. The rate per annum of the Canadian facility fee for each calendar quarter shall be determined as provided in Schedule I based on the Rating Level in effect on the first day of such quarter. As provided in Section 2.3, the Borrower may at its option pay such Canadian facility fee together with any facility fee owing to the Banks pursuant to Section 2.3(a) pursuant to a single payment to the Administrative Agent for the benefit of the Banks and the Canadian Banks, respectively; provided, the Borrower shall so specify to the Administrative Agent that such payment is with respect to both the Canadian facility fee hereunder and such facility fee.