Common use of Letter of Credit and Fronting Fees Clause in Contracts

Letter of Credit and Fronting Fees. The Borrower agrees to pay (i) to the Agent for the account of each Lender a letter of credit fee with respect to its participations in Letters of Credit, which shall accrue at the Euro-Dollar Margin used to determine the interest rate applicable to Euro-Dollar Loans (and solely for purposes of determining the applicable Euro-Dollar Margin used in computing Letter of Credit participation fees Usage shall be deemed to be greater than 50%) on the average daily amount of such Lender’s LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date on which such Lender’s Commitment terminates and the date on which such Lender ceases to have any LC Exposure, and (ii) to each Issuing Bank a fronting fee, which shall accrue at the rate or rates per annum separately agreed upon between the Borrower and the applicable Issuing Bank on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) attributable to Letters of Credit issued by such Issuing Bank during the period from and including the Effective Date to but excluding the later of the date of termination of the Commitments and the date on which there ceases to be any LC Exposure, as well as such Issuing Bank’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit by such Issuing Bank or the processing of drawings thereunder.

Letter of Credit and Fronting Fees. The Borrower agrees Borrowers, jointly and severally, agree to pay (i) to the Agent for the account of each Lender a letter participation fee (“Letter of credit fee Credit Fee”) with respect to its participations in Letters of Credit, which shall accrue at a rate equal to the Euro-Dollar Applicable Margin from time to time used to determine the interest rate applicable on LIBO Rate Loans pursuant to Euro-Dollar Loans (and solely for purposes of determining the applicable Euro-Dollar Margin used in computing Letter of Credit participation fees Usage shall be deemed to be greater than 50%) Section 2.06, on the average daily amount of such Lender’s LC Letter of Credit Exposure (excluding any portion thereof attributable to unreimbursed LC Letter of Credit Disbursements) during the period from and including the Effective Closing Date to but excluding the later of the date on which such Lender’s Commitment terminates and the date on which such Lender ceases to have any LC Letter of Credit Exposure, and (ii) to each Issuing Bank (x) a fronting feefee (“Fronting Fee”), which shall accrue accrue, at the a rate or rates of 0.125% per annum separately agreed upon between the Borrower and the applicable Issuing Bank on the average daily aggregate face amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) attributable to Letters of Credit issued by such Issuing Bank during the period from and including the Effective Closing Date to but excluding the later of the date of termination of the Commitments and the date on which there ceases all Letters of Credit issued by such Issuing Bank cease to be any LC Exposureoutstanding and all reimbursement obligations in respect thereof have been satisfied, as well as (y) such Issuing Bank’s standard customary fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit by such Issuing Bank or the processing of drawings thereunderthereunder as agreed between the Lead Borrower and the Issuing Bank from time to time. Letter of Credit Fees and Fronting Fees accrued through and including the last day of March, June, September and December of each year shall be payable on the first day of the subsequent calendar quarter, commencing on the first such date to occur after the Closing Date; provided that all such fees shall be payable on the date on which the Commitments terminate and any such fees accruing after the date on which the Commitments terminate shall be payable on demand; provided further, that upon the termination of any Letter of Credit by its terms, all Letter of Credit Fees accrued with respect to such Letter of Credit shall be due and payable as of the date of such termination. Any other fees payable to the Issuing Bank pursuant to this paragraph shall be payable within 30 days after written demand. All Letter of Credit Fees and Fronting Fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day and, except as set forth above in this paragraph, the last day).

Letter of Credit and Fronting Fees. The Borrower agrees to pay (i) to the Agent for the account of each Lender a letter of credit fee with respect to its participations in Letters of Credit, which shall accrue at the Euro-Dollar Margin used to determine the interest rate applicable to Euro-Dollar Euro‑Dollar Loans (and solely for purposes of determining the applicable Euro-Dollar Margin used in computing Letter of Credit participation fees Usage shall be deemed to be greater than 50%) on the average daily amount of such Lender’s 's LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date on which such Lender’s 's Commitment terminates and the date on which such Lender ceases to have any LC Exposure, and (ii) to each Issuing Bank a fronting fee, which shall accrue at the rate or rates per annum separately agreed upon between the Borrower and the applicable such Issuing Bank on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) attributable to Letters of Credit issued by such Issuing Bank during the period from and including the Effective Date to but excluding the later of the date of termination of the Commitments and the date on which there ceases to be any LC Exposure, as well as such Issuing Bank’s 's standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit by such Issuing Bank or the processing of drawings thereunder.

Letter of Credit and Fronting Fees. The Borrower agrees to pay (i) to the Agent for the account of each Lender a letter of credit fee with respect to its participations in Letters of Credit, which shall accrue at the Euro-Dollar Margin used to determine the interest rate applicable to Euro-Dollar Loans (and solely for purposes of determining the applicable Euro-Dollar Margin used in computing Letter of Credit participation fees Usage shall be deemed to be greater than 50%) on the average daily amount of such Lender’s 's LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date on which such Lender’s 's Commitment terminates and the date on which such Lender ceases to have any LC Exposure, and (ii) to each Issuing Bank a fronting fee, which shall accrue at the rate or rates per annum separately agreed upon between the Borrower and the applicable Issuing Bank on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) attributable to Letters of Credit issued by such Issuing Bank during the period from and including the Effective Date to but excluding the later of the date of termination of the Commitments and the date on which there ceases to be any LC Exposure, as well as such Issuing Bank’s 's standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit by such Issuing Bank or the processing of drawings thereunder.

Letter of Credit and Fronting Fees. The Borrower agrees to pay (i) to the Administrative Agent for the account of each Lender Bank a letter of credit fee with respect to its participations in Letters of Credit, which shall accrue at the Euro-Dollar Margin used to determine the interest rate applicable to Euro-Dollar Loans (and solely for purposes of determining the applicable Euro-Dollar Margin used in computing Letter of Credit participation fees Usage shall be deemed to be greater than 50%) on the average daily amount of such LenderBank’s LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date on which such LenderBank’s Commitment terminates and the date on which such Lender Bank ceases to have any LC Exposure, and (ii) to each the Issuing Bank a fronting fee, which shall accrue at the rate or rates per annum separately agreed upon between the Borrower and the applicable Issuing Bank on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) attributable to Letters of Credit issued by such Issuing Bank during the period from and including the Effective Date to but excluding the later of the date of termination of the Commitments and the date on which there ceases to be any LC Exposure, as well as such the Issuing Bank’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit by such Issuing Bank or the processing of drawings thereunder.