Common use of Facility Letter of Credit Fees Clause in Contracts

Facility Letter of Credit Fees. The Borrower hereby agrees to pay to the Administrative Agent for the account of the Issuer or the Lenders, as applicable, letter of credit fees with respect to each Facility Letter of Credit from and including the date of issuance thereof until the date such Facility Letter of Credit is fully drawn, canceled or expired, (a) for the account of the Issuer, computed at such rate as may be agreed upon between the Issuer and the Borrower, on the aggregate initial face amount of such Facility Letter of Credit payable on the date of issuance, and (b) for the ratable account of the Lenders, equal to (i) in the case of Commercial Letters of Credit, 50% of the Applicable Eurodollar Margin times the aggregate initial face amount of such Commercial Letter of Credit, payable upon the date of issuance thereof, and (ii) in the case of Standby Letters of Credit, the Applicable Eurodollar Margin times the aggregate amount from time to time available to be drawn on such Standby Facility Letter of Credit, calculated with respect to actual days elapsed on the basis of a 360-day year and payable quarterly in arrears on each Payment Date in each year and upon the expiration, cancellation or utilization in full of such Facility Letter of Credit. In addition to the foregoing, the Borrower agrees to pay the Issuer any other fees customarily charged by it in respect of Letters of Credit issued by it.

Appears in 2 contracts

Samples: Credit Agreement (Ralcorp Holdings Inc /Mo), Credit Agreement (Ralcorp Holdings Inc /Mo)

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Facility Letter of Credit Fees. The Borrower hereby agrees to --------------------------------- pay to the Administrative Agent for the account of the Issuer or the Lenders, as applicable, letter of credit fees with respect to each Facility Letter of Credit from and including the date of issuance thereof until the date such Facility Letter of Credit is fully drawn, canceled or expired, (a) for the account of the Issuer, computed at such rate as may be agreed upon between the Issuer and the Borrower, on the aggregate initial face amount of such Facility Letter of Credit payable on the date of issuance, and (b) for the ratable account of the Lenders, equal to (i) in the case of Commercial Letters of Credit, 50% of the Applicable Eurodollar Margin times the aggregate initial face amount of such Commercial Letter of Credit, payable upon the date of issuance thereof, and (ii) in the case of Standby Letters of Credit, the Applicable Eurodollar Margin times the aggregate amount from time to time available to be drawn on such Standby Facility Letter of Credit, calculated with respect to actual days elapsed on the basis of a 360-day year and payable quarterly in arrears on each Payment Date in each year and upon the expiration, cancellation or utilization in full of such Facility Letter of Credit. In addition to the foregoing, the Borrower agrees to pay the Issuer any other fees customarily charged by it in respect of Letters of Credit issued by it.

Appears in 1 contract

Samples: Credit Agreement (Ralcorp Holdings Inc /Mo)

Facility Letter of Credit Fees. The Borrower hereby agrees to ------------------------------ pay to the Administrative Agent for the account of the Issuer or the Lenders, as applicable, letter of credit fees with respect to each Facility Letter of Credit from and including the date of issuance (or, as the case may be, increase in the face amount) thereof until the date such Facility Letter of Credit is fully drawn, canceled cancelled or expired, (a) for the account of the Issuer, computed at such rate as may be agreed upon between the Issuer and the Borrower, on the aggregate initial face amount (or, as the case may be, on the aggregate increase in the face amount) of such Facility Letter of Credit payable on the date of issuance, and (b) for the ratable account of the Lenders, equal to (i) in the case of Commercial Letters of Credit, 50.25% of the Applicable Eurodollar Margin times the aggregate initial face amount (or, as the case may be, on the aggregate increase in the face amount) of such Commercial Letter of Credit, payable upon the date of issuance thereof, and (ii) in the case of Standby Letters of Credit, the Applicable Eurodollar Margin times the aggregate amount from time to time available to be drawn on such Standby Facility Letter of Credit, calculated with respect to actual days elapsed on the basis of a 360-day year and payable quarterly in arrears on each Payment Date in each year and upon the expiration, cancellation or utilization in full of such Facility Letter of Credit. In addition to the foregoing, the Borrower agrees to pay the Issuer any other fees customarily charged by it in respect of Standby or Commercial Letters of Credit issued by it.

Appears in 1 contract

Samples: Credit Agreement (Corporate Express Inc)

Facility Letter of Credit Fees. The Borrower Company hereby agrees to pay ------------------------------ to the Administrative Agent Agent, for the ratable (based on Commitment amounts) account of the Issuer or the Lenders, as applicableFacility Letter of Credit Providers, letter of credit fees with respect to each Facility Letter of Credit for each day from and including the date of issuance thereof until the date such Facility Letter of Credit is fully drawn, canceled cancelled or expired, (a) expired equal to the Applicable Letter of Credit Fee Rate for the account of the Issuer, computed at such rate as may be agreed upon between the Issuer and the Borrower, on day multiplied by the aggregate initial outstanding face amount of such all Facility Letter Letters of Credit payable at the close of business on the date of issuance, and (b) for the ratable account of the Lenders, equal to (i) in the case of Commercial Letters of Credit, 50% of the Applicable Eurodollar Margin times the aggregate initial face amount of such Commercial Letter of Creditday, payable upon the date of issuance thereof, and (iiin arrears) in the case of Standby Letters of Credit, the Applicable Eurodollar Margin times the aggregate amount from time to time available to be drawn on such Standby Facility Letter of Credit, calculated with respect to actual days elapsed on the basis of a 360-day year and payable quarterly in arrears on each Payment Date in each year and upon the expiration, cancellation or utilization in full of such Facility Letter of Credit. Notwithstanding anything contained in this Section 2.6 to the contrary, during the continuance of a Default, the Applicable ----------- Letter of Credit Fee Rate shall be increased by 2.0% per annum. In addition to the foregoing, the Borrower Company agrees to pay the Issuer Issuer, for its own account, any other fees customarily charged by it in respect of to issue, service and amend the Facility Letters of Credit issued by itCredit.

Appears in 1 contract

Samples: Letter of Credit Agreement (Torchmark Corp)

Facility Letter of Credit Fees. The Borrower hereby agrees to pay to the Administrative Agent for the account of the Issuer or the Lenders, as applicable, a letter of credit fees fee with respect to each Facility Letter of Credit from and including the date of issuance thereof until the date such Facility Letter of Credit is fully drawn, canceled cancelled or expired, (a) for the account of the Issuer, computed at such rate as may be agreed upon between the Issuer and the Borrower, on the aggregate initial face amount of such Facility Letter of Credit payable on the date of issuance, and (b) for the ratable account of the Lenders, equal to (i) in the case of Commercial Letters of Credit, 50.50% of the Applicable Eurodollar Margin times the aggregate initial face amount of such Commercial Letter of Credit, payable upon the date of issuance thereof, and (ii) in the case of Standby Letters of Credit, the Applicable Eurodollar Margin times the aggregate amount from time to time available to be drawn on such Standby Facility Letter of Credit, calculated with respect to actual days elapsed on the basis of a 360-day year and payable quarterly in arrears on each Payment Date in each year (with such amount to be paid by the Agent to each Lender within 15 days after such Payment Date) and upon the expiration, cancellation or utilization in full of such Facility Letter of Credit. In addition to the foregoing, the Borrower agrees to pay the Issuer any other fees customarily charged by it in respect of standby or commercial Letters of Credit issued by it.

Appears in 1 contract

Samples: Credit Agreement (Rawlings Sporting Goods Co Inc)

Facility Letter of Credit Fees. The Borrower hereby agrees to pay to the Administrative Agent for the account of the Issuer or the Lenders, as applicable, letter of credit fees with respect to each Facility Letter of Credit from and including the date of issuance thereof until the date such Facility Letter of Credit is fully drawn, canceled cancelled or expired, (a) for the account of the Issuer, computed at such rate as may be agreed upon between the Issuer and the Borrower, on the aggregate initial face amount of such Facility Letter of Credit payable on the date of issuance, and (b) for the ratable account of the Lenders, equal to (i) in the case of Commercial Letters of Credit, 50% of the Applicable Eurodollar Margin times the aggregate initial face amount of such Commercial Letter of Credit, payable upon the date of issuance thereof, and (ii) in the case of Standby Letters of Credit, the Applicable Eurodollar Margin times the aggregate amount from time to time available to be drawn on such Standby Facility Letter of Credit, calculated with respect to actual days elapsed on the basis of a 360-day year and payable quarterly in arrears on each Payment Date in each year and upon the expiration, cancellation or utilization in full of such Facility Letter of Credit. In addition to the foregoing, the Borrower agrees to pay the Issuer any other fees customarily charged by it in respect of Letters of Credit issued by it.

Appears in 1 contract

Samples: Credit Agreement (Ralcorp Holdings Inc /Mo)

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Facility Letter of Credit Fees. The Borrower hereby agrees ------------------------------ to pay to the Administrative Agent for the account of the Issuer or the Lenders, as applicable, letter of credit fees with respect to each Facility Letter of Credit from and including the date of issuance thereof until the date such Facility Letter of Credit is fully drawn, canceled cancelled or expired, (a) for the account of the Issuer, computed at such rate fee as may be from time to time separately agreed upon between to by the Issuer and the Borrower, on the aggregate initial face amount of such Facility Letter of Credit payable on the date of issuance, and (b) for the ratable account of the Lenders, equal to (i) in the case of Commercial Letters of Credit, 50% of the Applicable Eurodollar Margin times the aggregate initial face amount of such Commercial Letter of Credit, payable upon the date of issuance thereof, and (ii) in the case of Standby Letters of Credit, the Applicable Eurodollar Margin times multiplied by the aggregate amount from time to time available to be drawn on such Standby Facility Letter of Credit, calculated with respect to actual days elapsed on the basis of a 360-day year and payable quarterly in arrears on each Payment Date in each year and upon the expiration, cancellation or utilization in full of such Facility Letter of Credit. In addition to the foregoing, the Borrower agrees to pay the Issuer any other fees customarily charged by it in respect of Letters of Credit issued by it.

Appears in 1 contract

Samples: Revolving Credit Agreement (Depuy Inc)

Facility Letter of Credit Fees. The Borrower hereby agrees to pay to the Administrative Agent for the account of the Issuer or the Lenders, as applicable, letter of credit fees with respect to each Facility Letter of Credit from and including the date of issuance thereof until the date such Facility Letter of Credit is fully drawn, canceled cancelled or expired, (a) for the account of the Issuer, computed at such rate as may be agreed upon between the Issuer and the Borrower, on the aggregate initial face amount of such Facility Letter of Credit payable quarterly in arrears on the date of issuanceeach Payment Date in each year, and (b) for the ratable account of the Lenders, equal to (i) in the case of Commercial Letters of Credit, 50% of an amount equal to the then Applicable Margin for Eurodollar Margin times Loans multiplied by the aggregate initial face amount of such Commercial Letter of Credit, payable upon the date of issuance thereof, and (ii) in the case of Standby Letters of Credit, an amount equal to the then Applicable Margin for Eurodollar Margin times Loans multiplied by the aggregate amount from time to time available to be drawn on such Standby Facility Letter of Credit, calculated with respect to actual days elapsed on the basis of a 360-day year and payable quarterly in arrears on each Payment Date in each year and upon the expiration, cancellation or utilization in full of such Facility Letter of Credit. In addition to the foregoing, the Borrower agrees to pay the Issuer any other fees customarily charged by it in respect of Standby or Commercial Letters of Credit issued by it.

Appears in 1 contract

Samples: Credit Agreement (White Mountains Insurance Group LTD)

Facility Letter of Credit Fees. The Borrower hereby agrees to -------------------------------- pay to the Administrative Agent for the account of the Issuer or the Lenders, as applicable, letter of credit fees with respect to each Facility Letter of Credit from and including the date of issuance thereof until the date such Facility Letter of Credit is fully drawn, canceled or expired, (a) for the account of the Issuer, computed at such rate as may be agreed upon between the Issuer and the Borrower, on the aggregate initial face amount of such Facility Letter of Credit payable on the date of issuance, and (b) for the ratable account of the Lenders, equal to (i) in the case of Commercial Letters of Credit, 50% of the Applicable Eurodollar Margin times the aggregate initial face amount of such Commercial Letter of Credit, payable upon the date of issuance thereof, and (ii) in the case of Standby Letters of Credit, the Applicable Eurodollar Margin times the aggregate amount from time to time available to be drawn on such Standby Facility Letter of Credit, calculated with respect to actual days elapsed on the basis of a 360-day year and payable quarterly in arrears on each Payment Date in each year and upon the expiration, cancellation or utilization in full of such Facility Letter of Credit. In addition to the foregoing, the Borrower agrees to pay the Issuer any other fees customarily charged by it in respect of Letters of Credit issued by it.

Appears in 1 contract

Samples: Credit Agreement (Ralcorp Holdings Inc /Mo)

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