Common use of Canadian LC Facility Fees Clause in Contracts

Canadian LC Facility Fees. Canadian Borrower shall pay (i) to Agent, for the Pro Rata benefit of Canadian Lenders, a fee equal to the Applicable Margin in effect for Canadian BA Rate Loans times the average daily Stated Amount of Canadian Letters of Credit, which fee shall be payable monthly in arrears, on the first day of each month; (ii) to Agent, for its own account, a fronting fee equal to 0.125% per annum on the Stated Amount of each Canadian Letter of Credit, which fee shall be payable monthly in arrears, on the first day of each month; and (iii) to Canadian Issuing Bank, for its own account, all reasonable and customary charges associated with the issuance, amending, negotiating, payment, processing, transfer and administration of Canadian Letters of Credit, which charges shall be paid as and when incurred. During an Event of Default, the fee payable under clause (i) shall be increased by 2% per annum.

Canadian LC Facility Fees. Canadian Borrower Borrowers shall pay (ia) to Agent, for the Pro Rata benefit of Canadian Lenders, a fee equal to the Applicable Margin in effect for Canadian BA Rate LIBOR Loans times the average daily Stated Amount stated amount of Canadian Letters of Credit, which fee shall be payable monthly in arrears, on the first day of each month; (iib) to Agent, for its own account, a fronting fee equal to 0.125% per annum on the Stated Amount outstanding amount of each Canadian Letter of Credit, which fee shall be payable monthly in arrears, on the first day of each month; and (iiic) to Canadian Issuing Bank, for its own account, all reasonable and customary charges associated with the issuance, amending, negotiating, payment, processing, transfer and administration of Canadian Letters of Credit, which charges shall be paid as and when incurred. During At the election of the Agent or the Canadian Required Lenders, during an Event of Default, the fee payable under clause (ia) shall be increased by 2% per annum.