L/C Participation Fees Sample Clauses

L/C Participation Fees. The Borrowers, jointly and severally, agree to pay (i) to the Administrative Agent, for the ratable account of the Lenders, a fee (the “L/C Participation Fee”) in Dollars in an amount equal to (A) the Applicable Margin, multiplied by (B) the daily average L/C Obligations, during the period from and including the Closing Date to but excluding the later of the date of termination of the Revolving Commitments and the date on which there ceases to be any L/C Obligations; and (ii) to the L/C Issuer for its own account a fronting fee (“L/C Fronting Fee”) at the time of the issuance of each Letter of Credit in an amount equal to one-eighth of one percent (0.125%) of the face amount of such Letter of Credit. The Borrowers shall also, jointly and severally, pay to the L/C Issuer for the L/C Issuer’s sole account the L/C Issuer’s then in effect customary fees and administrative expenses payable with respect to letters of credit as the L/C Issuer may generally charge or incur from time to time in connection with the issuance, maintenance, modification (if any), assignment or transfer (if any), negotiation and administration of the Letters of Credit. Accrued L/C Participation Fees shall be computed and payable in arrears on the first day of each April, July, October and January of each year, commencing on the first such date to occur after the Agreement Date; provided that all such fees shall be payable on the date on which the Revolving Commitments terminate and any such fees accruing after the date on which the Revolving Commitments terminate shall be payable on demand. Any other fees payable to the L/C Issuer pursuant to this paragraph shall be payable within ten days after demand. All L/C Participation Fees and L/C Fronting Fees shall be computed on the basis of a year of 365 days (or 366 days in a leap year) and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). Notwithstanding the foregoing, if an Event of Default has occurred and is continuing, the Administrative Agent may, and shall at the direction of the Required Lenders, calculate L/C Participation Fees and L/C Fronting Fees, as applicable, at a rate per annum equal to the Default Rate.
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L/C Participation Fees. In consideration of each of the L/C Participations and the Commitment of the Revolving Facility Lenders hereunder to acquire them, as well as the Administrative Agent's agreement herein to make payments to the Issuing Bank on behalf of the Revolving Facility Lenders, the Borrowers shall pay to the Administrative Agent for the ratable benefit of the Revolving Facility Lenders, the Letter of Credit Participation Fee, which shall be an amount equal to three and one half percent (3.50%) per annum, payable monthly, on the face amount of each Letter of Credit less the amount of any and all amounts previously drawn under such Letter of Credit; provided, however, notwithstanding any of the foregoing, during the continuance of an Event of Default, the Letter of Credit Participation Fee shall be increased by an additional two percent (2.00%) per annum.
Sample 1
L/C Participation Fees. In consideration of each of the L/C Participations and the Commitment of the Revolving Facility Lenders hereunder to acquire them, as well as the Administrative Agent's agreement herein to make payments to the Issuing Bank on behalf of the Revolving Facility Lenders, the Companies shall pay to the Administrative Agent for the ratable benefit of the Revolving Facility Lenders, the Letter of Credit Participation Fee, which shall be an amount equal to the sum of the Citibank Base Rate for such day plus one and three quarters percent (1.75%) per annum, payable monthly, on the face amount of each Letter of Credit less the amount of any and all amounts previously drawn under such Letter of Credit; provided, however, notwithstanding any of the foregoing, during the continuance of an Event of Default, the Letter of Credit Participation Fee shall be increased by an additional two percent (2%) per annum.
Sample 1
L/C Participation Fees. The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender a Letter of Credit fee with respect to its participations in each outstanding Letter of Credit on the daily maximum amount then available to be drawn under such Letter of Credit, which shall accrue at a rate per annum equal to the Applicable Rate during the period from and including the Effective Date to but excluding the later of the date on which such Revolving Xxxxxx’s Revolving Commitment terminates and the date on which such Revolving Lender ceases to have any LC Obligations. Accrued fees shall be payable in arrears on the last Business Day of each of March, June, September and December, commencing on the first such date to occur after the Effective Date, and on the date on which the Revolving Commitments terminate; provided that any such fees accrued through the date on which the Revolving Commitments terminate shall be payable on demand.
Sample 1
L/C Participation Fees. The Borrowers agree to pay to the Administrative Agent for the account of each Lender a Letter of Credit fee with respect to their participations in each outstanding Letter of Credit on the daily maximum amount then available to be drawn under such Letter of Credit, which shall accrue at a rate per annum equal to the Applicable Rate for Revolving Loans maintained as SOFR Loans during the period from and including the Closing Date to but excluding the later of the date on which such Xxxxxx’s Revolving Commitment terminates and the date on which such Lender ceases to have any LC Obligations. Such accrued fees shall be payable in arrears on the last Business Day of each of March, June, September and December, commencing on the first such date to occur after the Closing Date, and on the date on which the Revolving Commitments terminate; provided that any such fees accruing after the date on which the Revolving Commitments terminate shall be payable on demand.
Sample 1

Related to L/C Participation Fees

  • Repayment of Participation Advances 2.9.4.1 Upon (and only upon) receipt by the Administrative Agent for the account of the Issuing Lender of immediately available funds from the Borrower (i) in reimbursement of any payment made by the Issuing Lender under the Letter of Credit with respect to which any Lender has made a Participation Advance to the Administrative Agent, or (ii) in payment of interest on such a payment made by the Issuing Lender under such a Letter of Credit, the Administrative Agent on behalf of the Issuing Lender will pay to each Lender, in the same funds as those received by the Administrative Agent, the amount of such Lender’s Ratable Share of such funds, except the Administrative Agent shall retain for the account of the Issuing Lender the amount of the Ratable Share of such funds of any Lender that did not make a Participation Advance in respect of such payment by the Issuing Lender. 2.9.4.2 If the Administrative Agent is required at any time to return to any Loan Party, or to a trustee, receiver, liquidator, custodian, or any official in any Insolvency Proceeding, any portion of any payment made by any Loan Party to the Administrative Agent for the account of the Issuing Lender pursuant to this Section in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each Lender shall, on demand of the Administrative Agent, forthwith return to the Administrative Agent for the account of the Issuing Lender the amount of its Ratable Share of any amounts so returned by the Administrative Agent plus interest thereon from the date such demand is made to the date such amounts are returned by such Lender to the Administrative Agent, at a rate per annum equal to the Federal Funds Effective Rate in effect from time to time.

  • Commitment Fees Accruing from the date hereof until the Expiration Date, the Borrower agrees to pay to the Administrative Agent for the account of each Lender, as consideration for such Lender’s Revolving Credit Commitment hereunder, a nonrefundable commitment fee (the “Commitment Fee”) equal to the Applicable Commitment Fee Rate (computed on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed) on the average daily difference between the amount of (a) such Lender’s Revolving Credit Commitment as the same may be constituted from time to time and (b) such Lender’s Revolving Exposure (for purposes of this computation, Swing Loans shall not be deemed to be borrowed amounts under its Revolving Credit Commitment); provided, however, that any Commitment Fee accrued with respect to the Revolving Credit Commitment of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such Commitment Fee shall otherwise have been due and payable by the Borrower prior to such time; and provided further that no Commitment Fee shall accrue with respect to the Revolving Credit Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. Subject to the proviso in the directly preceding sentence, all Commitment Fees shall be payable in arrears on each Payment Date.

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