LC Facility Fees. Borrower shall pay to Lender (i) a fee equal to the Applicable Margin in effect for LIBOR Revolver Loans times the average daily Stated Amount of Letters of Credit, which fee shall be payable monthly in arrears, on the first day of each month; (ii) a fronting fee equal to 0.125% per annum on the Stated Amount of each Letter of Credit, which fee shall be payable monthly in arrears, on the first day of each month; and (iii) all customary charges associated with the issuance, amending, negotiating, payment, processing, transfer and administration of Letters of Credit, which charges shall be paid as and when incurred. During an Event of Default, the fee payable under clause (i) shall be increased by 2% per annum.
Appears in 4 contracts
Samples: Loan, Security and Guaranty Agreement (Select Interior Concepts, Inc.), Loan and Security Agreement (Select Interior Concepts, Inc.), Loan and Security Agreement (Select Interior Concepts, Inc.)
LC Facility Fees. Borrower Borrowers shall pay to Lender Agent, for the account of Issuing Bank (i) a fee equal to the Applicable Margin in effect for LIBOR Revolver Loans times the average daily Stated Amount of Letters of Credit, which fee shall be payable monthly in arrears, on the first day of each month; (ii) a fronting fee equal to 0.125% three percent (3.00%) per annum on the Stated Amount of each Letter of Credit, which fee shall be payable monthly in arrears, on the first day of each month; and (iii) all customary charges associated with the issuance, amending, negotiating, payment, processing, transfer and administration of Letters of Credit, which charges shall be paid as and when incurred. During an Event of Default, the fee payable under clause (i) shall be increased by 25% per annum.
Appears in 2 contracts
Samples: Loan and Security Agreement (Chicago Atlantic Real Estate Finance, Inc.), Loan and Security Agreement (Chicago Atlantic Real Estate Finance, Inc.)
LC Facility Fees. Borrower Borrowers shall pay to Lender (ia) a fee equal to the Applicable Margin in effect for LIBOR Revolver Loans times the average daily Stated Amount of Letters of Credit, which fee shall be payable monthly in arrears, on the first day of each month; (iib) a fronting fee equal to 0.125% per annum on the Stated Amount of each Letter of Credit, which fee shall be payable monthly in arrears, on the first day of each month; and (iiic) all customary charges associated with the issuance, amending, negotiating, payment, processing, transfer and administration of Letters of Credit, which charges shall be paid as and when incurred. During an Event of Default, the fee payable under clause (ia) shall be increased by 2% per annum.
Appears in 2 contracts
Samples: Loan and Security Agreement (Xplore Technologies Corp), Loan and Security Agreement (Wireless Telecom Group Inc)
LC Facility Fees. Borrower shall pay to Lender (ia) a fee equal to the Applicable Margin in effect for LIBOR Revolver Loans times the average daily Stated Amount stated amount of Letters of Credit, which fee shall be payable monthly in arrears, on the first day of each month; (iib) a fronting fee equal to 0.1250.25% per annum on the Stated Amount stated amount of each Letter of Credit, which fee shall be payable monthly in arrears, on the first day of each month; and (iiic) all customary charges associated with the issuance, amending, negotiating, payment, processing, transfer and administration of Letters of Credit, which charges shall be paid as and when incurred. During an Event of Default, the fee payable under clause (ia) shall be increased by 2% per annum.
Appears in 2 contracts
Samples: Loan and Security Agreement (Lapolla Industries Inc), Loan and Security Agreement (Lapolla Industries Inc)
LC Facility Fees. Borrower Borrowers shall pay to Lender (ia) a fee equal to the Applicable Margin in effect for LIBOR Revolver LIBORTerm SOFR Loans times the average daily Stated Amount of Letters of Credit, which fee shall be payable monthly in arrears, arrears on the first day of each month; (iib) a fronting fee equal to 0.1250.50% per annum on the Stated Amount of each Letter of Credit, which fee shall be payable monthly in arrears, arrears on the first day of each month; and (iiic) all customary charges associated with the issuance, amending, negotiating, payment, processing, transfer and administration of Letters of Credit, which charges shall be paid as and when incurred. During an Event of Default, the fee payable under clause (ia) shall be increased by 2% per annum.
Appears in 1 contract
Samples: Loan and Security Agreement (Orion Energy Systems, Inc.)
LC Facility Fees. Borrower Borrowers shall pay to Lender (ia) a fee equal to the Applicable Margin in effect for Revolver Loans that are LIBOR Revolver Loans times the average daily Stated Amount stated amount of Letters of Credit, which fee shall be payable monthly in arrears, on the first day of each month; (iib) a fronting fee equal to 0.125% per annum on the Stated Amount stated amount of each Letter of Credit, which fee shall be payable monthly in arrears, on the first day of each month; and (iiic) all customary charges associated with the issuance, amending, negotiating, payment, processing, transfer and administration of Letters of Credit, which charges shall be paid as and when incurred. During the continuance of an Event of Default, the fee payable under clause (ia) shall be increased by 2% two percent (2.00%) per annum.
Appears in 1 contract
LC Facility Fees. Borrower Borrowers shall pay to Lender (ia) a fee equal to the Applicable Margin in effect for LIBOR Revolver Loans times the average daily Stated Amount of Letters of Credit, which fee shall be payable monthly in arrears, on the first day of each month; (iib) a fronting fee equal to 0.125% per annum on the Stated Amount of each Letter of Credit, which fee shall be payable monthly in arrears, on the first day of each month; and (iiic) all customary charges associated with the issuance, amending, negotiating, payment, processing, transfer and administration of Letters of Credit, which charges shall be paid as and when incurred. During an Event of Default, the fee payable under clause (ia) shall be increased by 2% per annum.
Appears in 1 contract
LC Facility Fees. Borrower shall pay to Lender (ia) a fee equal to the Applicable Margin in effect for LIBOR Revolver Loans times the average daily Stated Amount stated amount of Letters of Credit, which fee shall be payable monthly in arrears, on the first day of each month; (iib) a fronting fee equal to 0.125% per annum on the Stated Amount stated amount of each Letter of Credit, which fee shall be payable monthly in arrears, on the first day of each month; and (iiic) all customary charges associated with the issuance, amending, negotiating, payment, processing, transfer and administration of Letters of Credit, which charges shall be paid as and when incurred. During an Event of Default, the fee payable under clause (ia) shall be increased by 2% per annum.
Appears in 1 contract
Samples: Loan and Security Agreement (Craftmade International Inc)
LC Facility Fees. Borrower shall pay to Lender (ia) a fee equal to the Applicable Margin in effect for LIBOR Revolver Loans times the average daily Stated Amount of Letters of Credit, which fee shall be payable monthly in arrears, on the first day of each month; (iib) a fronting fee equal to 0.125% per annum on the Stated Amount of each Letter of Credit, which fee shall be payable monthly in arrears, on the first day of each month; and (iiic) all customary charges associated with the issuance, amending, negotiating, payment, processing, transfer and administration of Letters of Credit, which charges shall be paid as and when incurred. During an Event of Default, the fee payable under clause (ia) shall be increased by 2% per annum.
Appears in 1 contract
Samples: Loan and Security Agreement (Volt Information Sciences, Inc.)
LC Facility Fees. Borrower Borrowers shall pay to Lender (i) a fee equal to the Applicable Margin in effect for LIBOR Revolver Loans times the average daily Stated Amount of Letters of Credit, which fee shall be payable monthly in arrears, on the first day of each month; (ii) a fronting fee equal to 0.125% per annum on the Stated Amount of each Letter of Credit, which fee shall be payable monthly in arrears, on the first day of each month; and (iii) all customary charges associated with the issuance, amending, negotiating, payment, processing, transfer and administration of Letters of Credit, which charges shall be paid as and when incurred. During an Event of Default, the fee payable under clause (i) shall be increased by 2% per annum.
Appears in 1 contract
Samples: Loan and Security Agreement (Revolution Lighting Technologies, Inc.)
LC Facility Fees. Borrower shall pay to Lender (i) a fee equal to the Applicable Margin in effect for LIBOR Revolver Loans times the average daily Stated Amount of Letters of Credit, which fee shall be payable monthly in arrears, on the first day of each month; (ii) a fronting fee equal to 0.1250.25% per annum on the Stated Amount of each Letter of Credit, which fee shall be payable monthly in arrears, on the first day of each month; and (iii) all customary charges associated with the issuance, amending, negotiating, payment, processing, transfer and administration of Letters of Credit, which charges shall be paid as and when incurred. During an Event of Default, the fee payable under clause (i) shall be increased by 2% per annum.
Appears in 1 contract
LC Facility Fees. Borrower Borrowers shall pay to Lender (ia) a fee equal to the Applicable Margin in effect for LIBOR Revolver Loans times the average daily Stated Amount of Letters of Credit, which fee shall be payable monthly in arrears, on the first day of each month; (iib) a fronting fee equal to 0.125.25% per annum on the Stated Amount of each Letter of Credit, which fee shall be payable monthly in arrears, on the first day of each month; and (iiic) all customary charges associated with the issuance, amending, negotiating, payment, processing, transfer and administration of Letters of Credit, which charges shall be paid as and when incurred. During an Event of Default, the fee payable under clause (ia) shall be increased by 2% per annum.
Appears in 1 contract
LC Facility Fees. Borrower shall pay to Lender (ia) a fee equal to the Applicable Margin in effect for LIBOR Revolver Loans times the average actual daily Stated Amount stated amount of Letters of Credit, which fee shall be payable monthly in arrears, on the first day of each month; (iib) a fronting fee equal to 0.125% per annum on the Stated Amount stated amount of each Letter of Credit, which fee shall be payable monthly in arrears, on the first day of each month; and (iiic) all customary charges associated with the issuance, amending, negotiating, payment, processing, transfer and administration of Letters of Credit, which charges shall be paid as and when incurred. During an Event of Default, the fee payable under clause (ia) shall be increased by 2% per annum.
Appears in 1 contract
Samples: Loan Agreement (Ashworth Inc)
LC Facility Fees. Borrower Borrowers shall pay to Lender (ia) a fee equal to the Applicable Margin in effect for LIBOR Revolver Loans times the average actual daily Stated Amount stated amount of Letters of Credit, which fee shall be payable monthly in arrears, on the first day of each month; (iib) a fronting fee equal to 0.125% per annum on the Stated Amount stated amount of each Letter of Credit, which fee shall be payable monthly in arrears, on the first day of each month; and (iiic) all customary charges associated with the issuance, amending, negotiating, payment, processing, transfer and administration of Letters of Credit, which charges shall be paid as and when incurred. During an Event of Default, the fee payable under clause (ia) shall be increased by 2% per annum.
Appears in 1 contract
