Common use of LC Facility Fees Clause in Contracts

LC Facility Fees. Borrowers shall pay (a) to Agent, for the Pro Rata benefit of Revolving Lenders or Issuing Bank, as described below, 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 quarterly in arrears, on the first Business Day of each Fiscal Quarter; (b) to Issuing Bank, for its own account, a fronting fee equal to 0.125% of the Stated Amount of each Letter of Credit, which fee shall be payable quarterly in arrears, on the first Business Day of each quarter and on the 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 an Event of Default, 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 Revolving Lenders or Issuing Bank, as described belowthe Tranche A Lenders, 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 quarterly monthly in arrears, on the first Business Day of each Fiscal Quartermonth; 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, for its own account, a fronting fee equal fee, for the account of such Issuing Bank, with respect to 0.125% of the Stated Amount of each Letter of CreditCredit issued by such Issuing Bank in the amount agreed to between such Issuing Bank and the Borrower Agent, which fee shall be payable quarterly in arrears, on upon issuance of the first Business Day Letter of each quarter Credit and on the Commitment Termination Dateeach 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. 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 Revolving Lenders or Issuing Bank, as described below(other than any Defaulting Lender), a fee equal to the Applicable Margin in effect for LIBOR Revolver Loans times multiplied by the average daily Stated Amount stated amount of Letters of Credit, which fee shall be payable quarterly in arrears, on the first Business Day (1st) day of each Fiscal Quartercalendar quarter; (b) to Agent, for the account of Issuing Bank, for its own account, a fronting fee equal to 0.125% one-eighth of one percent (.125%) of the Stated Amount stated amount of each Letter of Credit, which fee shall be payable upon issuance of the Letter of Credit and quarterly in arrears, on the first Business Day (1st) day of each calendar quarter thereafter, and shall be payable on the Commitment Termination Dateany 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 an Insolvency Proceeding with respect to any Loan Party (other than an Immaterial Subsidiary), or during any other Event of DefaultDefault if Required Lenders so elect, the fee payable under clause (a) shall be increased by two percent (2% %) per annum. Subject to For the avoidance of doubt, no fees shall accrue under this Section 4.2.2, 3.2.2 in favor of any fee described in clause (a) above payable Defaulting Lender for the benefit of so long as it remains 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 Revolving Lenders or Issuing Bank, as described belowthe Tranche A Lenders, 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 quarterly monthly in arrears, on the first Business Day of each Fiscal Quartermonth; 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 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, for its own account, a fronting fee equal fee, for the account of such Issuing Bank, with respect to 0.125% of the Stated Amount of each Letter of CreditCredit issued by such Issuing Bank in the amount agreed to between such Issuing Bank and the Borrower Agent, which fee shall be payable quarterly in arrears, on upon issuance of the first Business Day Letter of each quarter Credit and on the Commitment Termination Dateeach 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. 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. The applicable Borrower or Borrowers shall pay (a) to the Applicable Agent, for the Pro Rata benefit of Revolving Lenders or Issuing Bank, as described belowthe Applicable Lenders, a fee equal to the Applicable Margin in effect for LIBOR Revolver Applicable Offered Rate Loans times the average daily Stated Amount stated amount of Letters of CreditCredit issued for the account or benefit of such Borrower or Borrowers, which fee shall be payable quarterly monthly in arrears, on the first Business Day day of each Fiscal Quartermonth; (b) to the applicable Issuing Bank, for its own account, a fronting fee equal to 0.125% of per annum on the Stated Amount stated amount of each Letter of CreditCredit issued by it for the account or benefit of such Borrower or Borrowers (or such other amount as may be mutually agreed by such Borrower(s) and such Issuing Bank), which fee shall be payable quarterly monthly in arrears, on the first Business Day day of each quarter and on the Commitment Termination Datemonth; and (c) to the applicable Issuing Bank, for its own account, all customary charges associated with the issuance, amending, negotiating, payment, processing, transfer and administration of Letters of CreditCredit issued for the account or benefit of such Borrower or Borrowers, which charges shall be paid as and when incurred. During an Event of Default, the fee payable under clause (a) shall shall, subject to the Interest Act (Canada), 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 Revolving Lenders or Issuing Bank, as described below, a fee (the “LC Participation Fee”) equal to the Applicable Margin in effect for LIBOR Revolver RevolverDaily SOFR Loans times the average daily Stated Amount of Letters of Credit, which fee shall be payable quarterly in arrears, on the first Business Day of each Fiscal Quarter; (b) to Issuing Bank, for its own account, a fronting fee equal to 0.125% of the Stated Amount of each Letter of Credit, which fee shall be payable quarterly in arrears, on the first Business Day of each quarter and on the 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 an Event of Default, 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 ’s LC Obligations has been Cash Collateralized, in which case such fees shall not be payable.