Common use of Fronting Fees and Participation Fees Clause in Contracts

Fronting Fees and Participation Fees. When and as interest is collected on the Canadian Revolving Loan and until the Canadian Revolving Loan is refunded in accordance with Section 1.15, Canadian Agent shall, subject to applicable law, retain a fee (the “Fronting Fee”) equal to 1/8th of one percent (0.125%) of the outstanding principal balance of the Canadian Revolving Loan, at such time, and Canadian Agent shall pay to each Lender (other than Agent) a participation fee (a “Participation Fee”) equal to such Lender’s Pro Rata Share of that portion of the interest collected equal to the sum of Applicable Margins then in effect with respect to the Canadian Revolving Loan for the relevant LIBOR Period or other interest payment period, plus any Default Rate then in effect, less such Lender’s Pro Rata Share of the Fronting Fee. If Canadian Borrower pays less than all of the interest then due and owing by it for any period, that portion of the interest equating to the Participation Fee shall be deemed to be the last portion of interest paid or to be paid.

Fronting Fees and Participation Fees. When and as interest is collected on the Canadian Revolving Loan and until the Canadian Revolving Loan is refunded in accordance with Section 1.15, Canadian Agent shall, subject to applicable law, retain a fee (the “"Fronting Fee”") equal to 1/8th 1/8/th/ of one percent (0.125%) of the outstanding principal balance of the Canadian Revolving Loan, at such time, and Canadian Agent shall pay to each Lender (other than Agent) a participation fee (a “"Participation Fee”") equal to such Lender’s 's Pro Rata Share of that portion of the interest collected equal to the sum of Applicable Margins then in effect with respect to the Canadian Revolving Loan for the relevant LIBOR Period or other interest payment period, plus any Default Rate then in effect, less such Lender’s 's Pro Rata Share of the Fronting Fee. If Canadian Borrower pays less than all of the interest then due and owing by it for any period, that portion of the interest equating to the Participation Fee shall be deemed to be the last portion of interest paid or to be paid.