Common use of LC Facility Fees Clause in Contracts

LC Facility Fees. Borrowers shall pay (a) to Agent, for the Pro Rata benefit of the Tranche A Lenders, a fee equal to the Applicable Margin in effect for LIBOR Tranche A Revolver Loans times the average daily stated amount of Letters of Credit, which fee shall be payable monthly in arrears, on the first Business Day of each month; provided, however, any such fee otherwise payable for the account of a Defaulting Lender with respect to any Letter of Credit as to which such Defaulting Lender has not provided Cash Collateral satisfactory to the Issuing Bank shall be payable, to the maximum extent permitted by Applicable Law, to the other Tranche A Lenders in accordance with the upward adjustments in their respective Pro Rata shares allocable to such Letter of Credit pursuant to Section 4.2, with the balance of such fee, if any, payable to the Issuing Bank for its own account; (b) to each Issuing Bank, a fronting fee, for the account of such Issuing Bank, with respect to each Letter of Credit issued by such Issuing Bank in the amount agreed to between such Issuing Bank and the Borrower Agent, which fee shall be payable upon issuance of the Letter of Credit and on each anniversary date of such issuance, and shall be payable on any increase in stated amount made between any such dates; and (c) to Issuing Bank, for its own account, 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 occurrence and continuance of an Event of Default, at the election of the Agent or the Required Lenders, the fee payable under clause (a) shall be increased by 2% per annum.

LC Facility Fees. Borrowers shall pay (a) to Agent, for the Pro Rata benefit of the Tranche A LendersLenders (other than any Defaulting Lender), a fee equal to the Applicable Margin in effect for LIBOR Tranche A Revolver Loans times multiplied by the average daily stated amount of Letters of Credit, which fee shall be payable monthly quarterly in arrears, on the first Business Day (1st) day of each month; provided, however, any such fee otherwise payable for the account of a Defaulting Lender with respect to any Letter of Credit as to which such Defaulting Lender has not provided Cash Collateral satisfactory to the Issuing Bank shall be payable, to the maximum extent permitted by Applicable Law, to the other Tranche A Lenders in accordance with the upward adjustments in their respective Pro Rata shares allocable to such Letter of Credit pursuant to Section 4.2, with the balance of such fee, if any, payable to the Issuing Bank for its own accountcalendar quarter; (b) to each Agent, for the account of Issuing Bank, a fronting fee, for fee equal to one-eighth of one percent (.125%) of the account stated amount of such Issuing Bank, with respect to each Letter of Credit issued by such Issuing Bank in the amount agreed to between such Issuing Bank and the Borrower AgentCredit, which fee shall be payable upon issuance of the Letter of Credit and quarterly in arrears, on the first (1st) day of each anniversary date of such issuancecalendar quarter thereafter, and shall be payable on any increase in stated amount made between any such dates; and (c) to Issuing Bank, for its own account, 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 occurrence and continuance of an Insolvency Proceeding with respect to any Loan Party (other than an Immaterial Subsidiary), or during any other Event of Default, at the election of the Agent or the Default if Required LendersLenders so elect, the fee payable under clause (a) shall be increased by two percent (2% %) per annum. For the avoidance of doubt, no fees shall accrue under this Section 3.2.2 in favor of any Defaulting Lender for so long as it remains a Defaulting Lender.

LC Facility Fees. Borrowers shall pay (a) to Agent, for the Pro Rata benefit of the Tranche A LendersRevolving Lenders or Issuing Bank, as described below, a fee equal to the Applicable Margin in effect for LIBOR Tranche A Revolver Loans times the average daily stated amount Stated Amount of Letters of Credit, which fee shall be payable monthly quarterly in arrears, on the first Business Day of each month; provided, however, any such fee otherwise payable for the account of a Defaulting Lender with respect to any Letter of Credit as to which such Defaulting Lender has not provided Cash Collateral satisfactory to the Issuing Bank shall be payable, to the maximum extent permitted by Applicable Law, to the other Tranche A Lenders in accordance with the upward adjustments in their respective Pro Rata shares allocable to such Letter of Credit pursuant to Section 4.2, with the balance of such fee, if any, payable to the Issuing Bank for its own accountFiscal Quarter; (b) to each Issuing Bank, for its own account, a fronting fee, for fee equal to 0.125% of the account Stated Amount of such Issuing Bank, with respect to each Letter of Credit issued by such Issuing Bank in the amount agreed to between such Issuing Bank and the Borrower AgentCredit, which fee shall be payable upon issuance quarterly in arrears, on the first Business Day of the Letter of Credit each quarter and on each anniversary date of such issuance, and shall be payable on any increase in stated amount made between any such datesthe Commitment Termination Date; and (c) to Issuing Bank, for its own account, 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 occurrence and continuance of an Event of Default, at the election of the Agent or the Required Lenders, the fee payable under clause (a) shall be increased by 2% per annum. Subject to Section 4.2.2, any fee described in clause (a) above payable for the benefit of a Defaulting Lender shall be paid, instead, to Issuing Bank unless the Fronting Exposure for such Defaulting Lender's LC Obligations has been Cash Collateralized, in which case such fees shall not be payable.

LC Facility Fees. Borrowers shall pay (a) to Agent, for the Pro Rata benefit of the Tranche A LendersLenders or Issuing Bank, as described below, a fee equal to the Applicable Margin in effect for LIBOR Tranche A Revolver Loans times the average daily stated amount Stated Amount of Letters of Credit, which fee shall be payable monthly quarterly in arrears, on the first Business Day of each month; provided, however, any such fee otherwise payable for the account of a Defaulting Lender with respect to any Letter of Credit as to which such Defaulting Lender has not provided Cash Collateral satisfactory to the Issuing Bank shall be payable, to the maximum extent permitted by Applicable Law, to the other Tranche A Lenders in accordance with the upward adjustments in their respective Pro Rata shares allocable to such Letter of Credit pursuant to Section 4.2, with the balance of such fee, if any, payable to the Issuing Bank for its own accountFiscal Quarter; (b) to each Issuing Bank, for its own account, a fronting fee, for fee equal to 0.125% of the account Stated Amount of such Issuing Bank, with respect to each Letter of Credit issued by such Issuing Bank in the amount agreed to between such Issuing Bank and the Borrower AgentCredit, which fee shall be payable upon issuance quarterly in arrears, on the first Business Day of the Letter of Credit each quarter and on each anniversary date of such issuance, and shall be payable on any increase in stated amount made between any such datesthe Commitment Termination Date; and (c) to Issuing Bank, for its own account, 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 occurrence and continuance of an Event of Default, at the election of the Agent or the Required Lenders, the fee payable under clause (a) shall be increased by 2% per annum. Subject to Section 4.2.2, any fee described in clause (a) above payable for the benefit of a Defaulting Lender shall be paid, instead, to Issuing Bank unless the Fronting Exposure for such Defaulting Lender’s LC Obligations has been Cash Collateralized, in which case such fees shall not be payable.

LC Facility Fees. Borrowers shall pay (a) to Agent, for the Pro Rata benefit of the Tranche A Lenders, a fee equal to the Applicable Margin in effect for LIBOR Tranche A Revolver Loans times the average daily stated amount of Letters of Credit, which fee shall be payable monthly in arrears, on the first Business Day of each month; provided, however, any such fee otherwise payable for the account of a Defaulting Lender with respect to any Letter of Credit as to which such Defaulting Lender has not provided Cash Collateral satisfactory to the Issuing Bank shall be payable, to the maximum extent permitted by Applicable Law, to the other Tranche A Lenders in accordance with the upward adjustments in their respective Pro Rata shares allocable to such Letter of Credit pursuant to Section 4.2, with the balance of such fee, if any, payable to the Issuing Bank for its own account; (b) to each Issuing Bank, a fronting fee, for the account of such Issuing Bank, with respect to each Letter of Credit issued by such Issuing Bank in the amount agreed to between such Issuing Bank and the Borrower Agent, which fee shall be payable upon issuance of the Letter of Credit and on each anniversary date of such issuance, and shall be payable on any increase in stated amount made between any such dates; and (c) to Issuing Bank, for its own account, 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 occurrence and continuance of an Event of Default, at the election of the Agent or the Required Lenders, the fee payable under clause (a) shall be increased by 2% per annum.

LC Facility Fees. Borrowers shall pay (a) to Agent, for the Pro Rata benefit of the Tranche A LendersRevolving Lenders or Issuing Bank, as described below, a fee (the “LC Participation Fee”) equal to the Applicable Margin in effect for LIBOR Tranche A Revolver RevolverDaily SOFR Loans times the average daily stated amount Stated Amount of Letters of Credit, which fee shall be payable monthly quarterly in arrears, on the first Business Day of each month; provided, however, any such fee otherwise payable for the account of a Defaulting Lender with respect to any Letter of Credit as to which such Defaulting Lender has not provided Cash Collateral satisfactory to the Issuing Bank shall be payable, to the maximum extent permitted by Applicable Law, to the other Tranche A Lenders in accordance with the upward adjustments in their respective Pro Rata shares allocable to such Letter of Credit pursuant to Section 4.2, with the balance of such fee, if any, payable to the Issuing Bank for its own accountFiscal Quarter; (b) to each Issuing Bank, for its own account, a fronting fee, for fee equal to 0.125% of the account Stated Amount of such Issuing Bank, with respect to each Letter of Credit issued by such Issuing Bank in the amount agreed to between such Issuing Bank and the Borrower AgentCredit, which fee shall be payable upon issuance quarterly in arrears, on the first Business Day of the Letter of Credit each quarter and on each anniversary date of such issuance, and shall be payable on any increase in stated amount made between any such datesthe Commitment Termination Date; and (c) to Issuing Bank, for its own account, 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 occurrence and continuance of an Event of Default, at the election of the Agent or the Required Lenders, the fee payable under clause (a) shall be increased by 2% per annum. Subject to Section 4.2.2, any fee described in clause (a) above payable for the benefit of a Defaulting Lender shall be paid, instead, to Issuing Bank unless the Fronting Exposure for such Defaulting Lender’s LC Obligations has been Cash Collateralized, in which case such fees shall not be payable.