Fronted Letter of Credit Commissions. The Borrower shall pay to the Administrative Agent, for the account of the Fronting Bank and the Fronted L/C Participants, a letter of credit commission with respect to each Fronted Letter of Credit in an amount equal to the face amount of such Fronted Letter of Credit multiplied by the Applicable Margin that is applicable to Revolving Credit Loans that are LIBOR Rate Loans (determined on a per annum basis). Such commission shall be payable quarterly in arrears on the last Business Day of each calendar quarter, on the Maturity Date and thereafter on demand of the Administrative Agent. The Administrative Agent shall, promptly following its receipt thereof, distribute to the Fronting Bank and the Fronted L/C Participants all commissions received pursuant to this Section 3.4(b) in accordance with such Person’s respective Revolving Credit Commitment Percentage.
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Samples: Credit Agreement (Family Dollar Stores Inc), Credit Agreement (Family Dollar Stores Inc), Credit Agreement (Family Dollar Stores Inc)
Fronted Letter of Credit Commissions. The Borrower Borrowers shall pay to the Administrative Agent, for the account of the Fronting Bank and the Fronted L/C Participants, a letter of credit commission with respect to each Fronted Letter of Credit in an amount equal to the face amount of such Fronted Letter of Credit multiplied by the Applicable Margin that is applicable to Revolving Credit Loans that are LIBOR Rate Loans (determined on a per annum basis). Such commission shall be payable quarterly in arrears on the last Business Day of each calendar quarter, on the Maturity Date and thereafter on demand of the Administrative Agent. The Administrative Agent shall, promptly following its receipt thereof, distribute to the Fronting Bank and the Fronted L/C Participants all commissions received pursuant to this Section 3.4(b) in accordance with such Person’s respective Revolving Credit Commitment Percentage.
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