Common use of Compensation for Facility Letters of Credit Clause in Contracts

Compensation for Facility Letters of Credit. The Issuer of a Facility Letter of Credit shall have the right to receive, solely for its own account, an issuance fee and fronting fee to be agreed upon by the Issuer and the applicable Borrower as well as the Issuer's reasonable and customary costs of issuing and servicing the Facility Letters of Credit. In addition, such Borrower shall pay to the Administrative Agent for the account of each Lender participating in such Facility Letter of Credit a non-refundable fee at a per annum rate in the amount shown on the Pricing Schedule on Exhibit B applied to the face amount of the Facility Letter of Credit, payable quarterly in advance to all Lenders participating in such Facility Letter of Credit (including the Issuers) ratably from the date such Facility Letter of Credit is issued until its stated expiry date.