Canadian Letter of Credit Fees. The applicable Canadian Borrower shall pay to the Canadian Lender a Canadian Letter of Credit fee (the “Canadian L/C Fee”) (i) for each commercial Canadian Letter of Credit equal to 1% per annum times the daily amount available to be drawn under such Canadian Letter of Credit, and (ii) for each standby Canadian Letter of Credit equal to the Applicable Rate times the daily amount available to be drawn under such Canadian Letter of Credit. Canadian L/C Fees shall be (x) computed on a quarterly basis in arrears and (y) due and payable on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Canadian Letter of Credit, on the day that is seven days prior to the Maturity Date then in effect (or, if such day is not a Business Day, the next preceding Business Day) and thereafter on demand. If there is any change in the Applicable Rate during any quarter, the daily amount available to be drawn under each standby Canadian Letter of Credit 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 the request of the Canadian Lender, while any Event of Default exists, all Canadian L/C Fees shall accrue at the Default Rate.
Canadian Letter of Credit Fees. The Canadian Borrower shall pay to the Canadian Administrative Agent for the account of each Canadian Bank in accordance with its Canadian Pro Rata Share, a Canadian Letter of Credit fee for each Canadian Letter of Credit equal to the L/C Fee Rate times the daily maximum amount available to be drawn under such Canadian Letter of Credit, it being agreed that with respect to any Canadian Letter of Credit that, by its terms or the terms of the related Canadian Letter of Credit Application or any other document, agreement or instrument related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Canadian Letter of Credit shall be deemed to be the maximum stated amount of such Canadian Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time. Such letter of credit fees shall be computed on a quarterly basis in arrears. Such letter of credit fees shall be due and payable on the first Canadian Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Canadian Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. The L/C Fee Rate for each calendar quarter shall be determined as provided in Schedule I based on the Rating Level in effect on each applicable day of such quarter.
Canadian Letter of Credit Fees. On the date of issuance or extension, or increase in the amount, of any Canadian Letter of Credit pursuant to Section 2.3 hereof, Canadian Borrower shall pay to the L/C Issuer for its own account a fronting fee equal to 0.125%% of the face amount of (or of the increase in the face amount of) such Canadian Letter of Credit. Quarterly in arrears, on the last day of each March, June, September, and December, commencing on the first such date occurring after the date hereof, Canadian Borrower shall pay to Administrative Agent, for the ratable benefit of the Lenders in accordance with their Canadian Revolver Percentages, a letter of credit fee at a rate per annum equal to the Applicable Margin (computed on the basis of a year of 360 days and the actual number of days elapsed) in effect during each day of such quarter applied to the daily average face amount of Canadian Letters of Credit outstanding during such quarter. In addition, Canadian Borrower shall pay to the L/C Issuer for its own account the L/C Issuer’s standard issuance, drawing, negotiation, amendment, assignment, and other fees and charges for each Canadian Letter of Credit as established by the L/C Issuer from time to time.
Canadian Letter of Credit Fees. (i) Standby Canadian Letter of Credit Issuance Fee. In consideration of the issuance of standby Canadian Letters of Credit hereunder, each Canadian Borrower promises to pay to the Canadian Agent for the account of each Canadian Lender a fee (the "Standby Canadian Letter of Credit Fee") on such Canadian Lender's Canadian Commitment Percentage of the average daily maximum amount available to be drawn under each such standby Canadian Letter of Credit computed at a per annum rate for each day from the date of issuance to the date of expiration equal to the Applicable Percentage. The Standby Canadian Letter of Credit Fee will be payable quarterly in arrears on the last Business Day of each March, June, September and December for the immediately preceding quarter (or a portion thereof).
Canadian Letter of Credit Fees. On the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of March, 2020 (with the payment due on such initial payment date to be calculated for the period commencing on the Third Amendment Effective Date and ending on the last Business Day of March, 2020), Canadian Borrower shall pay to the Canadian Issuing Bank quarterly in arrears a fee (the “Canadian Letter of Credit Fee”), payable with respect to each Canadian Letter of Credit in the currency in which it is denominated, determined at a rate per annum equal to the Applicable Margin for Canadian US$ Libor Loans from time to time in effect during such quarter (provided, however, that with respect to Performance Letters of Credit, such Applicable Margin shall be multiplied by 0.50), multiplied by the average daily amount of the aggregate Canadian L/C Obligations during such quarter calculated on the basis of a 360 day year and actual days elapsed; provided that the minimum fee for each such Canadian Letter of Credit shall be US$350. In addition, Canadian Borrower shall pay to Canadian Issuing Bank, in connection with each Canadian Letter of Credit, the Canadian Issuing Bank’s standard issuance and administrative fees and expenses for Letters of Credit issued by it. 66
Canadian Letter of Credit Fees. In consideration of ------------------------------ Canadian LC Issuer's issuance of any Canadian Letter of Credit, Canadian Revolver Borrower agrees to pay (i) to Canadian Administration Agent for the account of each Canadian Revolver Lender in proportion to its Percentage Share, a Canadian Letter of Credit fee equal to the Canadian Letter of Credit Fee Rate applicable each day times the face amount of such Canadian Letter of Credit and (ii) to such Canadian LC Issuer for its own account, a letter of credit fronting fee at a rate equal to one-eighth percent (.125%) per annum times the face amount of such Canadian Letter of Credit. Each such fee will be calculated on the face amount of each Canadian Letter of Credit outstanding on each day at the above applicable rates and will be payable quarterly in arrears on the last day of each March, June, September and December. In addition, Canadian Revolver Borrower will pay to Canadian LC Issuer a minimum administrative issuance fee and such other fees and charges customarily charged by the Canadian LC Issuer in respect of any issuance, amendment or negotiation of any Canadian Letter of Credit in accordance with the Canadian LC Issuer's published schedule of such charges effective as of the date of such amendment or negotiation.
Canadian Letter of Credit Fees. In consideration of Canadian LC Issuer’s issuance of any Canadian Letter of Credit, Canadian Borrower agrees to pay (i) to Canadian Administrative Agent for the account of each Canadian Lender in proportion to its Percentage Share, a Canadian Letter of Credit fee equal to the Canadian Letter of Credit Fee Rate applicable each day times the undrawn face amount of such Canadian Letter of Credit and (ii) to such Canadian LC Issuer for its own account, a letter of credit fronting fee at a rate equal to one-eighth percent (.125%) per annum times the undrawn face amount of such Canadian Letter of Credit.
Canadian Letter of Credit Fees. The Canadian Borrower shall pay in Canadian Dollars (i) to the Canadian Agent for the ratable account of the Canadian Banks a fee with respect to Canadian Commercial Letters of Credit (the "Canadian Commercial Letter of Credit Fee") equal to the Applicable Commercial Letter of Credit Fee Percentage (computed on the basis of a year of three hundred sixty (360) days and actual days elapsed), and (ii) to the Canadian Agent for the ratable account of the Canadian Banks a fee with respect to Canadian Standby Letters of Credit (the "Canadian Standby Letter of Credit Fee") equal to the Applicable Standby Letter of Credit Fee Percentage (computed on the basis of a year of three hundred sixty (360) days and actual days elapsed), which fees shall be computed on the daily average Canadian Dollar Equivalent Amount of the respective Canadian Letters of Credit Outstanding and shall be payable quarterly in arrears (each such quarterly payment shall be equal to the product of (i) a fraction, the numerator of which is the number of days elapsed since the date the immediately preceding payment of the applicable Canadian Letter of Credit Fee was due, and the denominator of which is three hundred sixty (360) days and (ii) the Applicable Commercial Letter of Credit Fee Percentage or the Applicable Standby Letter of Credit Fee Percentage, as the case may be, for the daily average Canadian Dollar Equivalent Amount of the Canadian Commercial Letters of Credit Outstanding or the Canadian Standby Letters of Credit Outstanding, as the case may be) commencing with the first day of each September, December, March and June following the issuance of each Canadian Letter of Credit and on the Expiration Date. For purposes of calculating the applicable Canadian Letter of Credit Fee payments due on September 1, 2011, clause (i) of the foregoing formula shall be a fraction, the numerator of which is the number of days elapsed from the Closing Date to September 1, 2011, and the denominator of which is three hundred sixty (360) days. The Canadian Borrower shall also pay to the Canadian Issuing Bank in Canadian Dollars for its sole account (i) a fronting fee as determined by the Canadian Issuing Bank and the Canadian Borrower, and (ii) the Canadian Issuing Bank's then in effect customary fees and administrative expenses payable with respect to the Canadian Letters of Credit as the Canadian Issuing Bank may generally charge or incur from time to time in connection with the issuance, maintenance,...
Canadian Letter of Credit Fees. On the date of issuance or extension, or increase in the amount, of any Canadian Letter of Credit pursuant to Section 1.4 hereof, the Canadian Borrower requesting such Canadian Letter of Credit shall pay to the Canadian L/C Issuer for its own account a fronting fee equal to 0.25% per annum (computed on the basis of a year of 365 or 366 days and the actual number of days elapsed) of the face amount of (or of the increase in the face amount of) such Canadian Letter of Credit. Monthly in arrears, on the last day of each month in each year (commencing on the first such date occurring after the date hereof) the applicable Canadian Borrower shall pay to the Administrative Agent, for the ratable benefit of the Canadian Lenders in accordance with their Canadian Revolver Percentages, a letter of credit fee at a rate per annum equal to the Applicable Margin for Eurodollar Loans under the Canadian Revolving Credit (computed on the basis of a year of 365 or 366 days and the actual number of days elapsed) in effect during each day of such month applied to the daily average face amount of Canadian Letters of Credit outstanding during such month. In addition, the applicable Canadian Borrower shall pay to the Canadian L/C Issuer for its own account the Canadian L/C Issuer’s standard issuance, drawing, negotiation, amendment, and other administrative fees for each Canadian Letter of Credit. Such standard fees referred to in the preceding sentence may be established by the Canadian L/C Issuer from time to time.
Canadian Letter of Credit Fees. (i) Issuance Fee for Standby Canadian Letters of Credit. In consideration of the issuance of standby Canadian Letters of Credit hereunder, each Canadian Borrower promises to pay to the Canadian Agent for the account of each Canadian Lender a fee on such Canadian Lender's Canadian Commitment Percentage of the average daily maximum amount available to be drawn under each such standby Canadian Letter of Credit computed at a per annum rate for each day from the date of issuance to the date of expiration equal to the Applicable Percentage. Such fee will be payable quarterly in arrears on the last Business Day of each March, June, September and December for the immediately preceding quarter (or a portion thereof).
