Common use of Letter of Credit Facility Fees Clause in Contracts

Letter of Credit Facility Fees. The Borrowers shall pay to the Issuing Bank a fee on the aggregate amount available to be drawn on each outstanding Letter of Credit at a rate equal to (a) the Applicable Margin for each outstanding Standby Letter of Credit, and (b) .10% per annum for each outstanding Documentary Letter of Credit. Such fees shall be due with respect to each Letter of Credit quarterly in advance on the first day of each January, April, July and October, the first such payment to be made (x) on the Closing Date with respect to Letters of Credit outstanding and to the extent such fees have not yet been paid for such Letters of Credit with respect to the then current calendar quarter, or (y) on the date of issuance of a Letter of Credit, and thereafter on the first day of the calendar quarter occurring after either the Closing Date or the date of issuance of a Letter of Credit as applicable. The fees described in this SECTION 3.3 shall be calculated on the basis of a year of 360 days for the actual number of days elapsed.

Letter of Credit Facility Fees. The Borrowers Borrower shall pay to the Issuing Bank a fee on the aggregate amount available to be drawn on each outstanding Letter of Credit at a rate equal to (a) the Applicable Margin for each outstanding Standby Letter of Credit, and (b) .10% per annum for each outstanding Documentary Letter of Credit. Such fees shall be due with respect to each Letter of Credit quarterly in advance on the first day of each January, April, July and October, the first such payment to be made (x) on the Closing Date with respect to Letters of Credit outstanding and to the extent such fees have not yet been paid for such Letters of Credit with respect to the then current calendar quarter, or (y) on the date of issuance of a Letter of Credit, and thereafter on the first day of the calendar quarter occurring after either the Closing Date or the date of issuance of a Letter of Credit as applicable. The fees described in this SECTION 3.3 shall be calculated on the basis of a year of 360 days for the actual number of days elapsed.

Letter of Credit Facility Fees. The Borrowers Borrower shall pay to the Issuing Bank Lender a fee on the aggregate amount available to be drawn on each outstanding Letter of Credit at a rate equal to (a) the Applicable Margin .65% per annum for each outstanding Standby Letter of Credit, and (b) .10.125% per annum for each outstanding Documentary Letter of Credit. Such fees shall be due with respect to each Letter of Credit quarterly in advance on the first day of each January, April, July and October, the first such payment to be made (x) on the Closing Date with respect to Letters of Credit outstanding and to the extent such fees have not yet been paid for such Letters of Credit with respect to the then current calendar quarter, or (y) on the date of issuance of a Letter of Credit, and thereafter on the first day of the calendar quarter occurring after either the Closing Date or the date of issuance of a Letter of Credit as applicable. The fees described in this SECTION 3.3 shall be calculated on the basis of a year of 360 days for the actual number of days elapsed.