Common use of Fronting Fee and Documentary and Processing Charges Payable to Canadian L/C Issuer Clause in Contracts

Fronting Fee and Documentary and Processing Charges Payable to Canadian L/C Issuer. The Canadian Borrower shall pay directly to a Canadian L/C Issuer for its own account a fronting fee with respect to each Canadian Letter of Credit equal to 0.20% per annum 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 fronting fee shall be computed on a quarterly basis in arrears. Such fronting fee 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. In addition, the Canadian Borrower shall pay directly to a Canadian L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such Canadian L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.

Fronting Fee and Documentary and Processing Charges Payable to Canadian L/C Issuer. The Canadian Borrower shall pay directly to a Canadian L/C Issuer for its own account a fronting fee with respect to each Canadian Letter of Credit equal to 0.200.125% per annum 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 fronting fee shall be computed on a quarterly basis in arrears. Such fronting fee 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. In addition, the Canadian Borrower shall pay directly to a Canadian L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such Canadian L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.