Common use of LC Fee Clause in Contracts

LC Fee. Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Pro Rata Share a LC fee for such LC equal to the greater of (i) 1.25% per annum times the daily maximum amount available to be drawn under the LC, or (ii) $500. Such fee shall be due and payable, quarterly, in advance, commencing on the date the LC is issued by Issuing Bank and on the same day of each third calendar month thereafter until the LC expiration date.

LC Fee. Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Pro Rata Share a LC fee for such LC equal to the greater of (i) 1.253.50% per annum times the daily maximum amount available to be drawn under the LC, or (ii) $500. Such fee shall be due and payable, quarterly, in advance, commencing on the date the LC is issued by Issuing Bank and on the same day of each third calendar month thereafter until the LC expiration date.