Common use of Letter of Credit Fees Clause in Contracts

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 9 contracts

Samples: Credit Agreement (Hilton Worldwide Holdings Inc.), Credit Agreement (Hilton Worldwide Holdings Inc.), Credit Agreement (Hilton Worldwide Holdings Inc.)

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Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first last Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 9 contracts

Samples: Credit Agreement (NRG Energy, Inc.), Credit Agreement (Gates Industrial Corp PLC), Credit Agreement (Gates Industrial Corp PLC)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first last Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 8 contracts

Samples: Amendment No. 7 to the Amended and Restated Credit Agreement (Summit Materials, LLC), Credit Agreement (Summit Materials, LLC), Credit Agreement (Summit Materials, LLC)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) Share, in Dollars, a Letter of Credit fee in Dollars (the “Letter of Credit Fee”) for each Letter of Credit issued pursuant to this Agreement equal to the product of (i) Applicable Rate for Revolving Letter of Credit Loans times fees and (ii) the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees Fees 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 relevant L/C Issuer pursuant to this Section 2.03 2.17 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 Share allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.16(a)(iv), with the balance of such fee, if any, payable to the such L/C Issuer for its own account. Such Letter of Credit fees Fee shall be computed on a quarterly basis in arrears. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.09. Such Letter of Credit fees Fee shall be due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 7 contracts

Samples: Credit Agreement (CEB Inc.), Credit Agreement (CEB Inc.), Credit Agreement (CEB Inc.)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this AgreementAgreement of the Non-Extended Revolving Credit Facility or Extended Revolving Credit Facility, as applicable) a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer pursuant to this Section ‎Section 2.03 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 ‎Section 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first last Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 6 contracts

Samples: Credit Agreement (Alight, Inc. / Delaware), Credit Agreement (Alight, Inc. / Delaware), Credit Agreement (Alight, Inc. / Delaware)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the each Participating Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate Margin then in effect for Eurodollar Loans that are Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 2.26 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 Share allocable to such Letter of Credit pursuant to Section 2.17(a)(iv)2.25, with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after the end 15th day of each Marchof April, JuneJuly, September October and DecemberJanuary, commencing with the first such date to occur after the issuance of such Letter of Credit, on the applicable Letter of Credit Expiration Date and thereafter on demanddemand provided that if any such day is not a Business Day, payment shall be due on the next succeeding Business Day. If there is any change in any Applicable the applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable the applicable Rate separately for each period during such quarter that such Applicable applicable Rate was in effect.

Appears in 5 contracts

Samples: Credit Agreement (Altice USA, Inc.), Credit Agreement (Altice USA, Inc.), Credit Agreement (Altice USA, Inc.)

Letter of Credit Fees. The Borrower Borrowers shall pay to the Administrative Agent for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (each Dollar Tranche Lender in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) its Applicable Percentage in Dollars a Letter of Credit fee in Dollars (the “Letter of Credit Fee”) for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees Fees 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 reasonably satisfactory to the applicable L/C Issuer pursuant to this Section 2.03 2.03(a)(iii) shall be payable, to the maximum extent permitted by applicable Law, to the other Dollar Tranche Lenders in accordance with the upward adjustments adjustments, if any, in their respective Pro Rata Shares Applicable Percentages allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.18(a)(iv), with the balance of such fee, if any, retained by the Borrowers, if they have provided Cash Collateral in respect of such Defaulting Lender’s Fronting Exposure, or if the Borrowers have not provided Cash Collateral in respect of such Fronting Exposure, payable to the such L/C Issuer for its own account. Such For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit fees shall be determined in accordance with Section 1.09. Letter of Credit Fees shall be (i) computed on a quarterly basis in arrears. Such Letter of Credit fees shall be arrears and (ii) due and payable in Dollars on the first Business Day after the end of each March, June, September and Decembercalendar quarter, commencing with the first such date to occur after the issuance of such Letter of Credit, on the expiry date of such Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of available to be drawn under each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, upon the request of the Tranche Required Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate.

Appears in 5 contracts

Samples: Credit and Guaranty Agreement (Ventas, Inc.), Credit and Guaranty Agreement (Ventas, Inc.), Credit Agreement (Sabra Health Care REIT, Inc.)

Letter of Credit Fees. The Borrower shall agrees to pay to the Administrative Agent for the account of the each Revolving Credit Lenders Lender a letter of credit fee at a rate per annum equal to the Applicable Margin for the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) a Letter Loans that are LIBOR Loans times the daily average Stated Amount of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to for the Applicable Rate for Revolving Credit Loans times period from and including the Dollar Equivalent date of the daily maximum amount then available to be drawn under issuance of such Letter of Credit (whether or not such maximum amount is then in effect under x) to and including the date such Letter of Credit if expires or is cancelled or (y) to but excluding the date such maximum amount increases periodically pursuant Letter of Credit is drawn in full. The fee provided for in the immediately preceding sentence shall be nonrefundable and payable in arrears (i) quarterly on the first day of each January, April, July and October, (ii) on the Revolving Credit Maturity Date, (iii) on the date the Revolving Credit Commitments are terminated or reduced to zero and (iv) thereafter from time to time on demand of the Administrative Agent. In addition to such fee, the Borrower shall pay to the terms applicable Issuing Bank solely for its own account prior to the issuance of each Letter of Credit, a nonrefundable fronting fee in respect of each Letter of Credit at a per annum rate agreed between the Borrower and such Issuing Bank of the Stated Amount of such Letter of Credit); provided. The Borrower shall pay directly to such Issuing Bank from time to time on demand all commissions, howevercharges, any Letter of Credit fees otherwise payable for costs and expenses in the account of a Defaulting Lender amounts customarily charged by such Issuing Bank from time to time in like circumstances with respect to any Letter of Credit as to which such Defaulting Lender has not provided Cash Collateral satisfactory to the L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such each Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarterdrawings, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectamendments, renewals, extensions or other transactions relating thereto.

Appears in 5 contracts

Samples: Credit Agreement (RLJ Lodging Trust), Credit Agreement (RLJ Lodging Trust), Credit Agreement (RLJ Lodging Trust)

Letter of Credit Fees. The Borrower Borrowers shall pay to the Administrative Agent for the account of the each Participating Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) Agreement a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans Margin times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv2.19(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first last Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the applicable Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans Margin during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate Margin separately for each period during such quarter that such Applicable Rate Margin was in effect.

Appears in 5 contracts

Samples: Credit Agreement (Trinseo PLC), Credit Agreement (Trinseo S.A.), Credit Agreement (Trinseo S.A.)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders Lender in accordance with its Applicable Revolving Credit Percentage of the applicable Revolving Credit Facility, in U.S. Dollars, a Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of Credit equal to the Applicable Rate of the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the U.S. Dollar Equivalent determined as of the last Business Day of each March, June, September and December of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, provided that any Letter of Credit fees Fees 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 applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Revolving Credit Lenders in accordance with the upward adjustments in their respective Pro Rata Shares Applicable Percentages allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.16(a)(iv), with the balance of such fee, if any, payable to the applicable L/C Issuer for its own account. Such For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit fees shall be computed on a quarterly basis determined in arrearsaccordance with Section 1.06. Such Letter of Credit fees Fees shall be (i) due and payable in Dollars on the first last Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demanddemand and (ii) computed on a quarterly basis in arrears. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of available to be drawn under each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 5 contracts

Samples: Credit Agreement (Turning Point Brands, Inc.), Credit Agreement (Post Holdings, Inc.), Credit Agreement (Turning Point Brands, Inc.)

Letter of Credit Fees. The Borrower Borrowers shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) Share, a Letter of Credit fee in Dollars which shall accrue for each Letter of Credit issued pursuant to this Agreement of each Tranche in an amount equal to the Applicable Rate then in effect for Eurocurrency Rate Loans with respect to the Revolving Credit Loans times the Dollar Equivalent of Facility multiplied by the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, that any Letter of Credit fees 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 applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Lenders under the applicable Tranche in accordance with the upward adjustments in their respective Pro Rata Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(iv), with the balance of such fee, if any, payable to the applicable L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees arrears and shall be due and payable in Dollars on the first last Business Day after the end of each Marchfiscal quarter, Junein respect of the quarterly period then ending (or portion thereof, September and Decemberin the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Each payment of fees under this clause (i) on any Letters of Credit shall be made in Dollars.

Appears in 5 contracts

Samples: Fifth Amendment (Ortho Clinical Diagnostics Holdings PLC), Credit Agreement (Ortho Clinical Diagnostics Holdings PLC), Amendment (Ortho Clinical Diagnostics Holdings PLC)

Letter of Credit Fees. The Borrower Borrowers shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its applicable Pro Rata Share or other applicable share provided for under this Agreement) Share, a Letter of Credit fee in Dollars which shall accrue for each Letter of Credit issued pursuant to this Agreement in an amount equal to the Applicable Rate then in effect for Eurocurrency Rate Loans with respect to the Revolving Credit Loans times the Dollar Equivalent of Facility multiplied by the daily maximum Dollar Equivalent amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically automatically pursuant to the terms of such Letter of Credit); provided, however, that any Letter of Credit fees 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 applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Revolving Credit Lenders in accordance with the upward adjustments in their respective applicable Pro Rata Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(iv), ) with the balance of such fee, if any, payable to the applicable L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees arrears and shall be due and payable in Dollars on the first last Business Day after the end of each Marchfiscal quarter, Junein respect of the quarterly period then ending (or portion thereof, September and Decemberin the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 4 contracts

Samples: Credit Agreement (Paya Holdings Inc.), Credit Agreement (Maravai Lifesciences Holdings, Inc.), Credit Agreement (Maravai Lifesciences Holdings, Inc.)

Letter of Credit Fees. The Upon the issuance of each Letter of Credit and until termination, cancellation or expiration of such Letter of Credit, the Borrower shall agrees to pay to the Administrative Agent Agent, for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (ratably in accordance with their respective Pro Rata Share or other applicable share provided for under this Agreement) Shares, with respect to such Letter of Credit, a letter of credit fee (the “Letter of Credit fee in Dollars for each Fee”) at a per annum rate equal to the Letter of Credit issued pursuant Fee Rate in effect from time to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent of time multiplied by the daily maximum amount then available to be drawn under such Letter of Credit (whether or not Credit, such maximum amount is then fee to be payable in effect under such Letter of Credit arrears on each Payment Date, on the Facility Termination Date and, if such maximum amount increases periodically pursuant to the terms of such Letter of Credit)applicable, thereafter on demand; provided, however, any Letter of Credit fees Fees 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 L/C applicable Issuer pursuant to this Section 2.03 2.19 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 2.17(a)(iv2.23(a)(iv), with the balance of such fee, if any, payable to the L/C applicable Issuer for its own account. Such The Borrower shall also pay to each Issuer for its own account (x) a fronting fee of 0.20% per annum on the aggregate maximum stated amount for each Letter of Credit fees shall issued by such Issuer and currently outstanding, with such fee to be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars arrears on the first Business Day after following the end of each March, June, September and December, commencing and (y) documentary and processing charges in connection with the first such date to occur after the issuance or Modification of such Letter of Credit, on the Letter and draws under Letters of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate accordance with such Issuer’s standard schedule for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was charges as in effecteffect from time to time.

Appears in 4 contracts

Samples: Credit Agreement (Kansas City Power & Light Co), Credit Agreement (Great Plains Energy Inc), Credit Agreement (Great Plains Energy Inc)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (each Lender in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) a its Commitment Percentage an annual Letter of Credit fee in Dollars for each (the “Letter of Credit issued pursuant to this Agreement Fee”) for each standby Letter of Credit equal to the Applicable Margin for LIBO Rate for Revolving Credit Loans Advances times the Dollar Equivalent of the daily maximum stated amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, provided that any Letter of Credit fees 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 or entered in to other arrangements satisfactory to the L/C Issuer pursuant to this Section 2.03 Agreement 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 Commitment Percentages allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.9.1(d), with the balance of such feefee (other than the fees attributable to L/C Obligations for which Borrower has provided Cash Collateral), if any, payable to the L/C Issuer for its own account. Such For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit fees shall be determined in accordance with Section 2.7.13. Letter of Credit Fees shall be (i) computed on a quarterly basis in arrears. Such Letter of Credit fees shall be arrears and (ii) due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, Credit and on the Letter of Credit Expiration Date Date. The first and thereafter on demandlast payments of such Letter of Credit fee are to be prorated based upon the partial calendar quarters to which they apply. If there is any change in any the Applicable Margin for LIBO Rate for Revolving Credit Loans Advances during any quarter, the daily maximum amount of available to be drawn under each standby Letter of Credit shall be computed and multiplied by such the Applicable Margin for LIBO Rate Advances separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, upon the request of the Required Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate.

Appears in 4 contracts

Samples: Loan Agreement (Cedar Realty Trust, Inc.), Loan Agreement (Cedar Realty Trust, Inc.), Loan Agreement (Cedar Realty Trust, Inc.)

Letter of Credit Fees. The Borrower shall agrees to pay the following amounts with respect to the Administrative Agent for the account Letters of the Revolving Credit Lenders for the applicable Revolving Credit Facility Issued by any Issuer: (in accordance with their Pro Rata Share or other applicable share provided for under this Agreementi) to each Issuer of a Letter of Credit fee in Dollars for Credit, with respect to each Letter of Credit issued pursuant to this Agreement Issued by such Issuer, an issuance fee (the “Issuing Fee”) equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent 0.125% per annum of the daily maximum amount then available from time to time to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars arrears (A) on the first Business Day after the end of each March, June, September and Decembercalendar quarter, commencing with on the first such date to occur after day following the issuance of such Letter of Credit, and (B) on the Revolving Credit Termination Date; (ii) to the Administrative Agent for the ratable benefit of the Lenders, with respect to each Letter of Credit, a fee accruing at a rate per annum equal to the Applicable Margin for Revolving Loans that are BA Rate Loans of the maximum amount available from time to time to be drawn under such Letter of Credit, payable in arrears (A) on the first Business Day of each calendar quarter, commencing on the first such day following the issuance of such Letter of Credit, and (B) on the Revolving Credit Expiration Date Termination Date; provided, however, that during the continuance of an Event of Default, such fee shall be increased by two percent per annum and thereafter shall be payable on demand. If there is ; and (iii) to the Issuer of any change in any Applicable Rate for Revolving Credit Loans during any quarterLetter of Credit, with respect to the daily maximum amount issuance, extension, amendment, transfer or other action of or with respect to each Letter of Credit shall be computed and multiplied by each drawing made thereunder, documentary and processing charges in accordance with such Applicable Rate separately Issuer’s standard schedule for each period during such quarter that such Applicable Rate was charges in effecteffect at the time of issuance, extension, amendment, transfer, other action or drawing, as the case may be.

Appears in 4 contracts

Samples: Credit Agreement (Warnaco Group Inc /De/), Credit Agreement (Warnaco Group Inc /De/), Credit Agreement (Warnaco Group Inc /De/)

Letter of Credit Fees. The Borrower Borrowers shall pay to the Administrative Agent for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first last Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 4 contracts

Samples: Credit Agreement (PF2 SpinCo, Inc.), Credit Agreement (PF2 SpinCo LLC), Credit Agreement (Change Healthcare Inc.)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its applicable Pro Rata Share or other applicable share provided for under this Agreement) Share, a Letter of Credit fee in Dollars which shall accrue for each Letter of Credit issued pursuant to this Agreement on the principal amount thereof in an amount equal to the Applicable Rate then in effect for SOFR Loans with respect to the Revolving Credit Loans times the Dollar Equivalent of Facility multiplied by the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically automatically pursuant to the terms of such Letter of Credit); provided, however, that any Letter of Credit fees 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 applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Revolving Credit Lenders in accordance with the upward adjustments in their respective applicable Pro Rata Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(iv), with the balance of such fee, if any, payable to the applicable L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees arrears and shall be due and payable in Dollars on the first last Business Day after the end of each Marchfiscal quarter, Junein respect of the quarterly period then ending (or portion thereof, September and Decemberin the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 4 contracts

Samples: First Lien Credit Agreement (ZoomInfo Technologies Inc.), First Lien Credit Agreement (ZoomInfo Technologies Inc.), First Lien Credit Agreement (ZoomInfo Technologies Inc.)

Letter of Credit Fees. The Borrower Company shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) its Applicable Percentage, in Dollars, a Letter of Credit fee in Dollars (the “Letter of Credit Fee”) for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans denominated in Dollars and maintained as Eurocurrency Rate Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees Fees 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 Applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Revolving Lenders in accordance with the upward adjustments in their respective Pro Rata Shares Applicable Percentages allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.15(a)(iv), with the balance of such fee, if any, payable to the Applicable L/C Issuer for its own accountaccount (except to the extent that the Company has provided Cash Collateral with respect to all or a portion of such Letter of Credit, in which case the balance of such fee (or the applicable portion thereof, as applicable) shall not be payable). Such For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit fees shall be computed on a quarterly basis determined in arrearsaccordance with Section 1.09. Such Letter of Credit fees Fees shall be (i) due and payable in Dollars on the first last Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demanddemand and (ii) computed on a quarterly basis in arrears. If there is any change in any the Applicable Rate for Revolving Credit Loans denominated in Dollars and maintained as Eurocurrency Rate Loans during any quarter, the daily maximum amount of available to be drawn under each Letter of Credit shall be computed and multiplied by such the Applicable Rate for Revolving Loans denominated in Dollars and maintained as Eurocurrency Rate Loans separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, upon the request of the Required Revolving Lenders, all Letter of Credit Fees shall accrue at the Default Rate.

Appears in 4 contracts

Samples: Incremental Joinder (SS&C Technologies Holdings Inc), Credit Agreement (SS&C Technologies Holdings Inc), Credit Agreement (SS&C Technologies Holdings Inc)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, provided that any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Revolving Credit Lenders in accordance with the upward adjustments in their respective Pro Rata Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.15(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own accountaccount or be applied in reduction of such Letter of Credit fee to the extent such Cash Collateral has been provided by the Borrower in accordance with Section 2.03(a)(ii)(A)(2) or 2.03(f). Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees arrears and shall be due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 4 contracts

Samples: Revolving Credit Agreement (IASIS Healthcare LLC), Revolving Credit Agreement (IASIS Healthcare LLC), Credit Agreement (IASIS Healthcare LLC)

Letter of Credit Fees. The Borrower shall agrees to pay to the Administrative Agent for the account of each Revolving Lender a letter of credit fee at a rate per annum equal to the Applicable Margin for Revolving Credit Lenders for Loans that are LIBOR Loans times the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) a daily average Stated Amount of each Letter of Credit for the period from and including the date of issuance of such Letter of Credit (x) to and including the date such Letter of Credit expires or is cancelled or terminated or (y) to but excluding the date such Letter of Credit is drawn in full. In addition to such fees, the Borrower shall pay to the applicable Issuing Bank solely for its own account, a fronting fee in Dollars for respect of each Letter of Credit issued pursuant to this Agreement by such Issuing Bank equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent one-eighth of one percent (0.125%) of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms initial Stated Amount of such Letter of Credit); provided, however, in no event shall the aggregate amount of such fee in respect of any Letter of Credit be less than $1,000. The fees otherwise payable provided 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 L/C Issuer pursuant to in this Section 2.03 subsection shall be nonrefundable and payable, to in the maximum extent permitted by applicable Lawcase of the fee provided for in the first sentence, 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a arrears (i) quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after day of January, April, July and October, (ii) on the end Revolving Termination Date, (iii) on the date the Revolving Commitments are terminated or reduced to zero and (iv) thereafter from time to time on demand of each Marchthe Administrative Agent and in the case of the fee provided for in the second sentence, June, September and December, commencing with at the first such date to occur after the time of issuance of such Letter of Credit. The Borrower shall pay directly to the applicable Issuing Bank from time to time on demand all commissions, on charges, costs and expenses in the amounts customarily charged or incurred by the applicable Issuing Bank from time to time in like circumstances with respect to the issuance, amendment, renewal or extension of any Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied issued by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectIssuing Bank or any other transaction relating thereto.

Appears in 4 contracts

Samples: Credit Agreement (Service Properties Trust), Credit Agreement (Service Properties Trust), Credit Agreement (Service Properties Trust)

Letter of Credit Fees. The Parent Borrower shall pay to the Administrative Agent for the account of the each U.S. Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) Agreement a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans that are Eurocurrency Rate Loans times the Dollar Equivalent of the daily maximum Dollar Equivalent amount then available to be drawn under such Letter of Credit (regardless of whether the conditions for drawing could then be met and whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first last Business Day after the end of each of March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 4 contracts

Samples: Credit Agreement (Iqvia Holdings Inc.), Credit Agreement (Quintiles IMS Holdings, Inc.), Credit Agreement (Quintiles IMS Holdings, Inc.)

Letter of Credit Fees. The In consideration of LC Issuer’s issuance of any Letter of Credit, Borrower shall agrees to pay to the Administrative Agent Agent, for the account of the Revolving Credit all Lenders for the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) respective Percentage Shares, a letter of credit issuance fee equal to the Letter of Credit Fee Rate then in effect (which shall be increased by two percent (2%) per annum during any period in which interest on the Loans would accrue at the Default Rate), and (b) to such LC Issuer for its own account, a letter of credit fronting fee in Dollars for each Letter of Credit issued pursuant to this Agreement at a rate equal to the Applicable Rate for Revolving Credit Loans one-eighth of one percent (0.125%) per annum times the Dollar Equivalent face amount of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then but in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Creditno event less than $500 per annum); provided, however, any Letter of Credit fees Fees 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 L/C LC Issuer pursuant to this Section 2.03 2.11 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 Percentages Share allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.18(a)(iv), with the balance of such fee, if any, payable to the L/C LC Issuer for its own accountaccount (except such fee on such balance shall be proportionately reduced to the extent Borrower has Cash Collateralized such balance or a part thereof). Such In addition, Borrower will pay to LC Issuer LC Issuer’s customary fees for issuance, amendment and drawing of each Letter of Credit fees shall Credit. The letter of credit fee and the letter of credit fronting fee will be computed calculated based on a quarterly basis in arrears. Such Letter the face amount of all Letters of Credit fees shall outstanding on each day at the above applicable rate and will be due and payable quarterly in Dollars arrears on the first last Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 4 contracts

Samples: Credit Agreement (Mid-Con Energy Partners, LP), Credit Agreement (Mid-Con Energy Partners, LP), Credit Agreement (Mid-Con Energy Partners, LP)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) Share, a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate then in effect for Eurodollar Rate Loans with respect to the Revolving Credit Loans Facility times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, that any Letter of Credit fees Fees 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 applicable L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv)2.18(a)(iv) and/or to the Borrower in proportion to any Cash Collateral it has provided to cover such Defaulting Lender’s exposure, with the balance of such fee, if any, payable to the applicable L/C Issuer for its own account. Such Letter letter of Credit credit fees shall be computed on a quarterly basis in arrears. Such Letter letter of Credit credit fees shall be due and payable in Dollars on the first last Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 3 contracts

Samples: Credit Agreement, Credit Agreement (Syniverse Holdings Inc), Credit Agreement

Letter of Credit Fees. The Borrower Borrowers shall pay to the Administrative Agent for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first last Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 3 contracts

Samples: Credit Agreement (Bumble Inc.), Credit Agreement (Bumble Inc.), Credit Agreement (Bumble Inc.)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent Revolver Agent, for the account of the each Revolving Credit Lenders Lender for the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) its Applicable Percentage, a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans set forth in clause (II)(a) of the definition of “Applicable Rate” times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount decreases or increases periodically pursuant to the terms of such Letter of Credit); provided, however, that any Letter of Credit fees 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 L/C Issuer applicable Issuing Bank pursuant to this Section 2.03 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 Applicable Percentages allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.17(1)(d), with the balance of such fee, if any, payable to the L/C Issuer applicable Issuing Bank for its their own accountaccounts. Such Letter of Credit fees shall be computed on a quarterly basis in arrearsarrears on the basis of a 360-day year and actual days elapsed. Such Letter of Credit fees shall be due and payable in Dollars on the first last Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit L/C Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 3 contracts

Samples: Credit Agreement (LifeStance Health Group, Inc.), Credit Agreement (LifeStance Health Group, Inc.), Credit Agreement (LifeStance Health Group, Inc.)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders Lender for the applicable Revolving Credit Facility (in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) Agreement a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount Dollar Amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 3 contracts

Samples: Abl Credit Agreement (Prestige Consumer Healthcare Inc.), Abl Credit Agreement (Prestige Brands Holdings, Inc.), Abl Credit Agreement (Prestige Brands Holdings, Inc.)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the each Participating Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) Agreement a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the applicable Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 3 contracts

Samples: Credit Agreement, First Lien Credit Agreement (Portillo's Inc.), First Lien Credit Agreement (Portillo's Inc.)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after the end of each MarchFebruary, JuneMay, September August and DecemberNovember, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 3 contracts

Samples: Credit Agreement (Travelport Worldwide LTD), Credit Agreement (Travelport Worldwide LTD), Credit Agreement (Travelport LTD)

Letter of Credit Fees. The Borrower Company shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) its Applicable Revolving Percentage a Letter of Credit fee in Dollars (the “Letter of Credit Fee”) for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees Fees 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 or other credit support arrangements satisfactory to the applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Lawlaw, to the other Revolving Lenders in accordance with the upward adjustments in their respective Pro Rata Shares Applicable Revolving Percentages allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.28(a)(iv), with the balance of such fee, if any, payable to the such L/C Issuer for its own account. Such For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit fees shall be determined in accordance with Section 1.07. Letter of Credit Fees shall be (i) computed on a quarterly basis in arrears. Such Letter of Credit fees shall be , (ii) due and payable in Dollars on the first Business Day Automatic Debit Date after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demanddemand and (iii) automatically debited from a deposit account maintained by the Company with Bank of America (provided that if there are not sufficient funds in such account to pay such Letter of Credit Fees, then the Company shall pay such fees in cash when due). If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of available to be drawn under each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, upon the request of the Required Revolving Lenders, while any Revolving Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate.

Appears in 3 contracts

Samples: Credit Agreement (Sonic Automotive Inc), Credit Agreement (Sonic Automotive Inc), Credit Agreement (Sonic Automotive Inc)

Letter of Credit Fees. The Borrower Subject to Section 12.9(e), the Borrowers shall pay to the Administrative Agent for the account pro rata benefit of the Revolving Credit Lenders for LC Issuer and the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) LC Participants a Letter per annum letter of Credit credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement hereunder in an amount equal to the Applicable Rate Margin multiplied by the face amount of such Letter of Credit for Revolving the period such Letter of Credit Loans times is to be outstanding; provided that for any Letter of Credit that is (i) Cash Collateralized or (ii) backed by a standby letter of credit issued by a financial institution acceptable to the Dollar Equivalent LC Issuer in its sole discretion, then the per annum letter of credit fee for such Letter of Credit shall be an amount equal to 1.00% multiplied by the face amount of such Letter of Credit for the period such Letter of Credit is outstanding. On each date of issuance of any Letter of Credit, the Borrowers shall pay to the LC Issuer, solely for its own account, a fronting fee in an amount equal to 0.25% of the daily original maximum amount then available to be drawn under such Letter of Credit (whether Credit. Each letter of credit fee shall be payable in advance on the date of the issuance of the Letter of Credit, and, in the case of an increase in the face amount or not such maximum amount is then in effect under extension of the expiry date of such Letter of Credit if only, on the date of such maximum amount increases periodically pursuant increase or extension. Without prejudice to the terms of such Letter of Credit); providedforegoing, however, any Letter of Credit fees 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 Borrowers also shall pay to the L/C Issuer pursuant to this Section 2.03 shall be payableLC Issuer, 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer solely for its own account, promptly on demand such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or re-issuances of any Letter of Credit. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees and charges shall be due and payable in Dollars on the first Business Day after the end of each March, June, September demand and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectnonrefundable.

Appears in 3 contracts

Samples: Credit Agreement (Transatlantic Petroleum Ltd.), Credit Agreement (Transatlantic Petroleum Ltd.), Credit Agreement (Transatlantic Petroleum Ltd.)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders Lender for the applicable Revolving Credit Facility (in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) Agreement a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for applicable to each Revolving Credit Lender’s Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount Dollar Amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 3 contracts

Samples: Credit Agreement (APX Group Holdings, Inc.), Credit Agreement (APX Group Holdings, Inc.), Credit Agreement (APX Group Holdings, Inc.)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (each Lender in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) its Applicable Percentage a Letter of Credit fee in Dollars for each (the “Letter of Credit issued pursuant to this Agreement Fee”), (i) for each commercial or documentary Letter of Credit equal to the Applicable Rate for Revolving applicable to documentary Letters of Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit, and (ii) for each standby Letter of Credit (whether or not such maximum equal to the Applicable Rate applicable to standby Letters of Credit times the daily amount is then in effect available to be drawn under such Letter of Credit if such maximum amount increases periodically pursuant to Credit, and the terms of such Letter of Credit)Credit Fees described above shall continue to be payable with respect to any Letters of Credit that remain outstanding after the Letter of Credit Expiration Date; provided, however, any Letter of Credit fees Fees 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 such applicable L/C Issuer pursuant to this Section 2.03 2.04 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 Applicable Percentages allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.18(a)(iv), with the balance of such fee, if any, payable to the such L/C Issuer for its own account. Such For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit fees shall be computed on a quarterly basis determined in arrearsaccordance with Section 1.06. Such Letter of Credit fees Fees shall be (i) due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demanddemand and (ii) computed on a quarterly basis in arrears. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit available to be drawn shall be computed and multiplied by such the Applicable Rate therefor separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 3 contracts

Samples: Credit Agreement (Ross Stores, Inc.), Credit Agreement (Ross Stores Inc), Credit Agreement (Ross Stores Inc)

Letter of Credit Fees. The In consideration of LC Issuer’s issuance of any Letter of Credit, Borrower shall agrees to pay (a) to the Administrative Agent Agent, for the account of the Revolving Credit all Lenders for the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) respective Applicable Percentages, a letter of credit issuance fee at a rate equal to the Letter of Credit Fee Rate then in effect (which fee shall be increased by 2.0% per annum during any period in Dollars for each Letter which interest on the Loans accrues at the Default Rate) calculated on the undrawn amount of all outstanding Letters of Credit issued pursuant on each day, and (b) to this Agreement such LC Issuer for its own account, a letter of credit fronting fee at a rate equal to the Applicable Rate for Revolving Credit Loans 0.125% per annum times the Dollar Equivalent face amount of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then but in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Creditno event less than $500 per annum); provided, however, any Letter of Credit fees 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 L/C LC Issuer pursuant to this Section 2.03 2.9 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 Applicable Percentages allocable to such Letter of Credit pursuant to Section 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C LC Issuer for its own account. Such Letter of Credit In addition, Borrower will pay to LC Issuer LC Issuer’s customary fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due for issuance, amendment and payable in Dollars on the first Business Day after the end drawing of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, . The letter of credit fee and the letter of credit fronting fee will be calculated on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum undrawn face amount of each Letter of Credit shall outstanding on each day at the above-applicable rates and will be computed due and multiplied by such Applicable Rate separately for payable in arrears on the last Business Day of each period during such quarter that such Applicable Rate was in effectFiscal Quarter and at the end of the Commitment Period.

Appears in 3 contracts

Samples: Credit Agreement (Sundance Energy Australia LTD), Credit Agreement (Sundance Energy Australia LTD), Credit Agreement (Sundance Energy Australia LTD)

Letter of Credit Fees. (a) The Borrower shall Company agrees to pay to the Administrative Agent for the account of the Revolving Credit Lenders pro rata according to their respective Percentages a letter of credit fee for the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) a each Letter of Credit in an amount equal to the LC Fee Rate per annum in effect from time to time of the undrawn amount of such Letter of Credit (computed for the actual number of days elapsed on the basis of a year of 360 days); provided that, at the written request of the Required Lenders, at any time an Event of Default exists the rate applicable to each Letter of Credit shall be increased by 2%. Such letter of credit fee shall be payable in Dollars arrears on the last Business Day of each calendar quarter and on the Termination Date (and, if any Letter of Credit remains outstanding on the Termination Date, thereafter on demand) for the period from the date of the issuance of each Letter of Credit to the date such payment is due or, if earlier, the date on which such Letter of Credit expired or was terminated. (b) The Company agrees to pay each Issuing Lender a fronting fee for each Letter of Credit issued pursuant by such Issuing Lender in the amount separately agreed to this Agreement equal between the Company and such Issuing Lender. (c) In addition, with respect to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such each Letter of Credit); provided, however, any Letter of Credit fees otherwise payable for the account of a Defaulting Lender with respect Company agrees to any Letter of Credit as to which such Defaulting Lender has not provided Cash Collateral satisfactory pay to the L/C Issuer pursuant to this Section 2.03 shall be payableapplicable Issuing Lender, 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit , such fees shall be computed on a quarterly basis and expenses as such Issuing Lender customarily requires in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing connection with the first such date to occur after the issuance issuance, negotiation, processing and/or administration of such Letter letters of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change credit in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectsimilar situations.

Appears in 3 contracts

Samples: Credit Agreement (Middleby Corp), Credit Agreement (Middleby Corp), Credit Agreement (Middleby Corp)

Letter of Credit Fees. The Borrower Borrowers shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) Share, a Letter of Credit fee in Dollars which shall accrue for each Letter of Credit issued pursuant to this Agreement of each Tranche in an amount equal to the Applicable Rate then in effect for Eurocurrency Rate Loans or a XXXXX Rate Loans with respect to the Revolving Credit Loans times the Dollar Equivalent of Facility multiplied by the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, that any Letter of Credit fees 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 applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Lenders under the applicable Tranche in accordance with the upward adjustments in their respective Pro Rata Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.19(a)(iv), with the balance of such fee, if any, payable to the applicable L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees arrears and shall be due and payable in Dollars on the first last Business Day after the end of each March, June, September and December, in respect of the quarterly period then ending (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Each payment of fees under this clause (h) on any Letters of Credit shall be made in Dollars.

Appears in 2 contracts

Samples: Credit Agreement (Axalta Coating Systems Ltd.), Credit Agreement (Axalta Coating Systems Ltd.)

Letter of Credit Fees. The Borrower Subject to Section 12.9(e), the Borrowers shall pay to the Administrative Agent for the account pro rata benefit of the Revolving Credit Lenders for LC Issuer and the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) LC Participants a Letter per annum letter of Credit credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement hereunder in an amount equal to the Applicable Rate Margin multiplied by the face amount of such Letter of Credit for Revolving the period such Letter of Credit Loans times is to be outstanding; provided that, for any Letter of Credit that is (i) Cash Collateralized or (ii) backed by a standby letter of credit issued by a financial institution acceptable to the Dollar Equivalent LC Issuer in its sole discretion, then the per annum letter of credit fee for such Letter of Credit shall be an amount equal to 1.00% multiplied by the face amount of such Letter of Credit for the period such Letter of Credit is outstanding. On each date of issuance of any Letter of Credit, the Borrowers shall pay to the LC Issuer, solely for its own account, a fronting fee in an amount equal to 0.25% of the daily original maximum amount then available to be drawn under such Letter of Credit (whether Credit. Each letter of credit fee shall be payable in advance on the date of the issuance of the Letter of Credit, and, in the case of an increase in the face amount or not such maximum amount is then in effect under extension of the expiry date of such Letter of Credit if only, on the date of such maximum amount increases periodically pursuant increase or extension. Without prejudice to the terms of such Letter of Credit); providedforegoing, however, any Letter of Credit fees 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 Borrowers also shall pay to the L/C Issuer pursuant to this Section 2.03 shall be payableLC Issuer, 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer solely for its own account, promptly on demand such other usual and customary fees associated with any transfers, amendments, drawings, negotiations or re-issuances of any Letter of Credit. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees and charges shall be due and payable in Dollars on the first Business Day after the end of each March, June, September demand and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectnonrefundable.

Appears in 2 contracts

Samples: Credit Agreement (Transatlantic Petroleum Ltd.), Credit Agreement (Transatlantic Petroleum Ltd.)

Letter of Credit Fees. The Borrower Borrowers shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its applicable Pro Rata Share or other applicable share provided for under this Agreement) Share, a Letter of Credit fee in Dollars which shall accrue for each Letter of Credit issued pursuant to this Agreement of each Tranche in an amount equal to the Applicable Rate then in effect for Eurocurrency Rate Loans with respect to the Revolving Credit Loans times the Dollar Equivalent of Facility multiplied by the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically automatically pursuant to the terms of such Letter of Credit); provided, however, that any Letter of Credit fees 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 applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Revolving Credit Lenders under the applicable Tranche in accordance with the upward adjustments in their respective applicable Pro Rata Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(iv), with the balance of such fee, if any, payable to the applicable L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees arrears and shall be due and payable in Dollars on the first last Business Day after the end of each Marchfiscal quarter, Junein respect of the quarterly period then ending (or portion thereof, September and Decemberin the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, and on the Letter of Credit Expiration Date and thereafter on demandDate. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 2 contracts

Samples: Credit Agreement (Atotech LTD), Credit Agreement (Atotech LTD)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its applicable Pro Rata Share or other applicable share provided for under this Agreement) Share, a Letter of Credit fee in Dollars which shall accrue for each Letter of Credit issued pursuant to this Agreement on the principal amount thereof in an amount equal to the Applicable Rate then in effect for Eurocurrency Rate Loans with respect to the Revolving Credit Loans times the Dollar Equivalent of Facility multiplied by the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically automatically pursuant to the terms of such Letter of Credit); provided, however, that any Letter of Credit fees 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 applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Revolving Credit Lenders in accordance with the upward adjustments in their respective applicable Pro Rata Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(iv), with the balance of such fee, if any, payable to the applicable L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees arrears and shall be due and payable in Dollars on the first last Business Day after the end of each Marchfiscal quarter, Junein respect of the quarterly period then ending (or portion thereof, September and Decemberin the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 2 contracts

Samples: First Lien Credit Agreement (ZoomInfo Technologies Inc.), First Lien Credit Agreement

Letter of Credit Fees. The (a) In lieu of any letter of credit commissions and fees provided for in any L/C Application relating to Standby or Commercial L/Cs (other than standard issuance, amendment and payment and discrepancy fees, if any) the Borrower shall agrees to pay to the Administrative Agent Agent, for the account of the Revolving Credit Issuing Lender and the Participating Lenders for the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) a Letter letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement credit fees equal to (x) the Applicable Margin for Loans that are Eurodollar Rate for Revolving Credit Loans Loans, times (y) the Dollar Equivalent of the average aggregate daily maximum amount then available to be drawn under all such Letter Letters of Credit (regardless of whether or not any conditions for drawing could then be met and determined as of the close of business on any date of determination), payable, in arrears, on the last day of each fiscal quarter of the Borrower. From such maximum fees, the Issuing Lender shall retain for its own account a fronting fee of 0.60% per annum on the undrawn and unexpired amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such each Letter of Credit); provided, however, . The Administrative Agent will disburse any Letter of Credit fees 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 L/C Issuer received pursuant to this Section 2.03 shall be payable, subsection 2.8(a) to the maximum extent permitted by applicable Lawrespective Lenders promptly following the receipt of any such fees. Notwithstanding the foregoing, the Borrower agrees 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 2.17(a)(iv)pay standard issuance, with the balance of such feeamendment and payment and discrepancy fees, if any, payable to the L/C Issuer for its own account. Such Letter Issuing Lender. (b) For purposes of Credit any payment of fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date required pursuant to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarterthis subsection 2.8, the daily maximum amount Administrative Agent agrees to provide to the Borrower a statement of each Letter any such fees to be so paid; provided that the failure by the Administrative Agent to provide the Borrower with any such invoice shall not relieve the Borrower of Credit shall be computed and multiplied by its obligation to pay such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectfees.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Stratus Technologies Bermuda Holdings Ltd.), Revolving Credit Agreement (Stratus Technologies Bermuda Holdings Ltd.)

Letter of Credit Fees. The Borrower Company or, in the case of a Letter of Credit issued at the request of any LC Subsidiary, such LC Subsidiary shall pay to the Administrative Agent for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (each Lender in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) its Commitment Percentage a Letter of Credit fee in Dollars for each (the “Letter of Credit issued pursuant to this Agreement Fee”) (i) for each Trade Letter of Credit equal to the Applicable Rate for Revolving Credit Loans 0.60% per annum times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit, and (ii) for each Standby Letter of Credit (whether or not such maximum equal to the Applicable Standby Letter of Credit Fee times the Dollar Equivalent of the daily amount is then in effect available to be drawn under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees Fees 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 L/C Issuer applicable Issuing Bank pursuant to this Section 2.03 2.04 shall be payable, to the maximum extent permitted by applicable Requirement of Law, to the other Lenders in accordance with the upward adjustments in their respective Pro Rata Shares Commitment Percentages allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.14(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer such Issuing Bank for its own account. Such For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit fees shall be computed on a quarterly basis determined in arrearsaccordance with Section 1.07. Such Letter of Credit fees Fees shall be (i) due and payable in Dollars on the first Business Day arrears within 30 days after the end of each MarchJanuary, JuneApril, September July and DecemberOctober, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demandwritten demand and (ii) computed on a quarterly basis in arrears. If there is any change in any the Applicable Rate for Revolving Standby Letter of Credit Loans Fee during any quarter, the daily maximum amount of available to be drawn under each Standby Letter of Credit shall be computed and multiplied by such the Applicable Rate Standby Letter of Credit Fee separately for each period during such quarter that such Applicable Rate Standby Letter of Credit Fee was in effect. Notwithstanding anything to the contrary contained herein, upon the request of the Majority Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Gap Inc), Revolving Credit Agreement (Gap Inc)

Letter of Credit Fees. The Borrower Borrowers shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) Share, a Letter of Credit fee in Dollars which shall accrue for each Letter of Credit issued pursuant to this Agreement of each Tranche in an amount equal to the Applicable Rate then in effect for Eurocurrency Rate Loans with respect to the Revolving Credit Loans times the Dollar Equivalent of Facility multiplied by the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, that any Letter of Credit fees 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 applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Lenders under the applicable Tranche in accordance with the upward adjustments in their respective Pro Rata Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.19(a)(iv), with the balance of such fee, if any, payable to the applicable L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees arrears and shall be due and payable in Dollars on the first last Business Day after the end of each March, June, September and December, in respect of the quarterly period then ending (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.Each payment of fees under this clause (h) on any Letters of Credit shall be made in Dollars.

Appears in 2 contracts

Samples: Credit Agreement (Axalta Coating Systems Ltd.), Credit Agreement

Letter of Credit Fees. The Each Borrower shall agrees to pay to the Administrative Agent Agent, for the pro rata account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) respective Percentages, a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to (the Applicable Rate “Letter of Credit Fee”) for Revolving Credit Loans times the Dollar Equivalent period from the date of the daily maximum amount then available to be drawn under issuance of such Letter of Credit (whether or not for the account such maximum amount is then in effect under Borrower to the date upon which such Letter of Credit if expires or is otherwise terminated, of (a) in the case of each Commercial Letter of Credit issued for the account of such maximum amount increases periodically pursuant to Borrower, 0.75% per annum times the terms Stated Amount of such Letter of Credit); provided, howeverand (b) in the case of each Standby Letter of Credit issued for the account of such Borrower, the LC Fee Rate per annum in effect from time to time times the Stated Amount of such Letter of Credit. Such fee shall be payable by the Borrowers in arrears on each Payment Date and on the Termination Date (and thereafter on demand) for the period then ending for which such fee shall not theretofore have been paid. Notwithstanding the foregoing or any other provision of this Agreement, any Letter of Credit fees Fees 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 L/C applicable Issuer pursuant to this Section 2.03 5.8 shall be payable, to the maximum extent permitted by applicable Lawlaw, to the other Lenders in accordance with the upward adjustments in their respective Pro Rata Shares Percentages allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.7(a)(iv), with the balance of such fee, if any, payable to the L/C such Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 2 contracts

Samples: Credit Agreement (Triton International LTD), Credit Agreement (Triton International LTD)

Letter of Credit Fees. The Borrower Ryder shall pay to the Administrative Agent Agent, for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (each Domestic Bank in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) its Domestic Commitment Percentage a Letter of Credit fee in Dollars (the “Letter of Credit Fee”) for each Letter of Credit issued pursuant to this Agreement for Ryder’s or any of its domestic Subsidiaries’ account equal to the Applicable Rate for Revolving Margin on all Letter of Credit Loans Fees times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees Fees otherwise payable for the account of a Defaulting Lender Bank with respect to any Letter of Credit as to which such Defaulting Lender Bank has not provided Cash Collateral satisfactory to the L/C Issuer Issuing Bank pursuant to this Section 2.03 §4 shall be payable, to the maximum extent permitted by applicable Law, to the other Lenders Banks in accordance with the upward adjustments in their respective Pro Rata Shares Commitment Percentages allocable to such Letter of Credit pursuant to Section 2.17(a)(iv§2.16(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer Issuing Bank for its own account. Such Letter of Credit fees Fees shall be (a) computed on a quarterly basis in arrears. Such Letter of Credit fees shall be arrears and (b) due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Margin on all Letter of Credit Loans Fees during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate Margin on all Letter of Credit Fees separately for each period during such quarter that such Applicable Rate Margin on all Letter of Credit Fees was in effect. Notwithstanding anything to the contrary contained herein, while any Event of Default exists and subject to the request of the Majority Banks (other than with respect to an Event of Default under §13.1(a) (regarding the payment of principal), §13.1(g) or §13.1(h), in each case which shall not require the request of the Majority Banks), all Letter of Credit Fees shall accrue at a rate equal to the sum of the Applicable Margin on all Letter of Credit Fees plus 2% per annum.

Appears in 2 contracts

Samples: Global Revolving Credit Agreement (Ryder System Inc), Global Revolving Credit Agreement (Ryder System Inc)

Letter of Credit Fees. The Borrower Revolving Borrowers shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender, in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) its Applicable Revolving Percentage, a Letter of Credit fee in Dollars (the “Letter of Credit Fee”) for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans that are Eurocurrency Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees Fees 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 applicable L/C Issuer pursuant to this Section 2.03 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 Applicable Percentages allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.16(a)(iv), with the balance of such fee, if any, payable to the such L/C Issuer for its own account. Such For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit fees shall be computed on a quarterly basis determined in arrearsaccordance with Section 1.06. Such Letter of Credit fees Fees shall be (i) due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demanddemand and (ii) computed on a quarterly basis in arrears. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of available to be drawn under each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, upon the request of the Required Revolving Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate.

Appears in 2 contracts

Samples: Credit Agreement (C&J Energy Services Ltd.), Credit Agreement (C&J Energy Services Ltd.)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) Share, a Letter of Credit fee in Dollars (the “L/C Fee”) for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate then in effect for Eurodollar Rate Loans with respect to the Revolving Credit Loans Facility in respect of which such Revolving Credit Lender holds Revolving Credit Commitments times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically automatically pursuant to the terms of such Letter of Credit); provided that the L/C Fee shall be increased by 2.00% per annum following the occurrence and during the continuation of an Event of Default arising pursuant to Section 8.01(a), (f) or (g); provided, however, that (i) any Letter of Credit fees L/C 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 applicable L/C Issuer pursuant to this Section 2.03 and Section 2.15 and as to which the Fronting Exposure of such Defaulting Lender has been reallocated 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 2.16(a)(iv) 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 2.17(a)(iv2.16(a)(iv), with the balance of such feeL/C Fee, if any, payable to the applicable L/C Issuer for its own accountaccount and (ii) for the avoidance of doubt, the L/C Fee shall be due and payable in full regardless of whether all or a portion of the Letters of Credit outstanding have been Cash Collateralized. Such Letter of Credit fees L/C Fee shall be computed on a quarterly basis in arrears. Such Letter of Credit fees L/C Fee shall be due and payable in Dollars on the first last Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 2 contracts

Samples: First Lien Credit Agreement (TGPX Holdings I LLC), First Lien Credit Agreement (TGPX Holdings I LLC)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans that are Eurocurrency Rate Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first last Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 2 contracts

Samples: Credit Agreement (ESH Hospitality, Inc.), Credit Agreement (ESH Hospitality, Inc.)

Letter of Credit Fees. (i) The Borrower shall pay to the Administrative Agent for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (each Lender in accordance with their Pro Rata its Ratable Share or other applicable share provided for under this Agreement) a Letter of Credit fee in Dollars for each (the “Letter of Credit Fee”) for (A) the average daily aggregate Available Amount of all Secured Letters of Credit issued pursuant and outstanding from time to this Agreement time at a rate per annum equal to 0.50% and (B) the average daily aggregate Available Amount of all other Letters of Credit issued and outstanding from time to time at a rate per annum equal to the Applicable Margin for Eurodollar Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then Advances in effect under such Letter of Credit if such maximum amount increases periodically pursuant from time to the terms of such Letter of Credit)time; provided, howeverprovided that, any Letter of Credit fees Fees otherwise payable for the account of a Defaulting Lender with respect to any Letter of Credit (other than a Secured Letter of Credit) as to which such Defaulting Lender has not provided Cash Collateral satisfactory to the L/C Issuer applicable Issuing Bank pursuant to this Section 2.03 2.04 shall be payable, to the maximum extent permitted by applicable Lawlaw, to the other Lenders in accordance with the upward adjustments in their respective Pro Rata Ratable Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.22(a)(iv), and to such Issuing Bank for its own account to the extent of such Issuing Bank’s Fronting Exposure with the balance of such fee, if any, payable to fee being retained by the L/C Issuer for its own accountBorrower. Such Letter of Credit fees Fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be (A) due and payable in Dollars to each Lender on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance Issuance of such Letter of Credit, on the Termination Date of such Lender and thereafter on the date that any Letter of Credit Expiration expiring after the Termination Date of such Lender ceases to be outstanding and thereafter (B) computed on demanda quarterly basis in arrears. If In calculating the Letter of Credit Fee, if there is any change in any the Applicable Rate for Revolving Credit Loans Margin during any quarter, the daily maximum amount of Available Amount under each Letter of Credit shall be computed and multiplied by such the Applicable Rate Margin separately for each period during such quarter that such Applicable Rate Margin was in effect. (ii) The Borrower shall pay directly to the applicable Issuing Bank for its own account a fronting fee with respect to each Letter of Credit issued by such Issuing Bank, at such rate and at such times as are separately agreed in writing between the Borrower and such Issuing Bank. In addition, the Borrower shall pay directly to the applicable Issuing Bank for its own account the customary issuance, presentation, amendment and other processing fees, and other standard out-of-pocket costs and charges, of such Issuing Bank relating to letters of credit as from time to time in effect as the Borrower and such Issuing Bank shall agree. Such customary fees and standard costs and charges shall be reasonably documented and shall be due and payable promptly upon receipt of an invoice and are nonrefundable.

Appears in 2 contracts

Samples: Credit Agreement (Travelers Companies, Inc.), Credit Agreement (Travelers Companies, Inc.)

Letter of Credit Fees. The Borrower Borrowers (on a joint and several basis) shall pay to the Administrative Agent for the account of the each Participating Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) Agreement a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Margin with respect to Revolving Loans maintained as LIBOR Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer applicable Issuing Bank pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Lawlaw, 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 2.17(a)(iv2.21(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer applicable Issuing Bank for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first last Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the applicable Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans Margin during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate Margin separately for each period during such quarter that such Applicable Rate Margin was in effect.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Priority Technology Holdings, Inc.), Credit and Guaranty Agreement (Priority Technology Holdings, Inc.)

Letter of Credit Fees. The Borrower shall agrees to pay to the Administrative Agent for the account of the each Revolving Credit Lenders Lender a letter of credit fee at a rate per annum equal to the Applicable Margin for the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) a Letter Loans that are SOFR Loans times the daily average Stated Amount of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to for the Applicable Rate for Revolving Credit Loans times period from and including the Dollar Equivalent date of the daily maximum amount then available to be drawn under issuance of such Letter of Credit (whether or not such maximum amount is then in effect under x) to and including the date such Letter of Credit if expires or is cancelled or (y) to but excluding the date such maximum amount increases periodically pursuant Letter of Credit is drawn in full. The fee provided for in the immediately preceding sentence shall be nonrefundable and payable in arrears (i) quarterly on the first day of each January, April, July and October, (ii) on the Revolving Credit Maturity Date, (iii) on the date the Revolving Credit Commitments are terminated or reduced to zero and (iv) thereafter from time to time on demand of the Administrative Agent. In addition to such fee, the Borrower shall pay to the terms applicable Issuing Bank solely for its own account prior to the issuance of each Letter of Credit, a nonrefundable fronting fee in respect of each Letter of Credit at a per annum rate agreed between the Borrower and such Issuing Bank of the Stated Amount of such Letter of Credit); provided. The Borrower shall pay directly to such Issuing Bank from time to time on demand all commissions, howevercharges, any Letter of Credit fees otherwise payable for costs and expenses in the account of a Defaulting Lender amounts customarily charged by such Issuing Bank from time to time in like circumstances with respect to any Letter of Credit as to which such Defaulting Lender has not provided Cash Collateral satisfactory to the L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such each Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarterdrawings, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectamendments, renewals, extensions or other transactions relating thereto.

Appears in 2 contracts

Samples: Credit Agreement (RLJ Lodging Trust), Credit Agreement (RLJ Lodging Trust)

Letter of Credit Fees. The For each Letter of Credit issued, the Borrower shall pay to the Administrative Agent (a) a fee equal to the higher of (a) $1,000.00, or (b) 12.5 basis points on each Letter of Credit face amount, payable upon issuance of each such Letter of Credit, and (b) a fee (a “Letter of Credit Fee”) in an amount equal to the Applicable Margin (as applied to Tranche A LIBOR Rate Advances, to the extent such Letter of Credit is issued in reduction of Tranche A Loan Availability, and as applied to Tranche B LIBOR Rate Advances, to the extent such Letter of Credit is issued in reduction of Tranche B Loan Availability, as determined by Agent) per annum multiplied by the face amount of each outstanding Letter of Credit, which Letter of Credit Fee (i) shall be payable quarterly in arrears on the first day of each calendar quarter for the immediately preceding calendar quarter (which Letter of Credit Fee shall be pro-rated for any calendar quarter in which such Letter of Credit is issued, drawn upon or otherwise reduced or terminated) and (ii) shall be for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (pro rata in accordance with their Pro Rata Share respective Commitment Percentages. In addition to the Letter of Credit Fee, the Borrower shall pay to the Agent, on demand, all amendment, drawing and other fees regularly charged by the Agent to its letter of credit customers and all out-of-pocket expenses incurred by the Agent in connection with the issuance, amendment, administration or other applicable share provided for under payment of any Letter of Credit. Notwithstanding anything in this Agreement) Agreement to the contrary, the parties acknowledge and agree that the determination of whether a Letter of Credit fee is issued in Dollars for each Letter reduction of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent Tranche A Loan Availability or in reduction of Tranche B Loan Availability shall be fixed as of the daily maximum amount then available to be drawn under such Letter date of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each so long as such Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectremain outstanding.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Saul Centers Inc), Revolving Credit Agreement (Saul Centers Inc)

Letter of Credit Fees. The Borrower Borrowers (on a joint and several basis) shall pay to the Administrative Agent for the account of the each Participating Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) Agreement a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Margin with respect to Revolving Credit Loans maintained as SOFR Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer applicable Issuing Bank pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Lawlaw, 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 2.17(a)(iv2.21(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer applicable Issuing Bank for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first last Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the applicable Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans Margin during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate Margin separately for each period during such quarter that such Applicable Rate Margin was in effect.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Priority Technology Holdings, Inc.), Credit and Guaranty Agreement (Priority Technology Holdings, Inc.)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (each Lender in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) Share, in Dollars, a Letter of Credit fee in Dollars for each (the “Letter of Credit issued pursuant to this Agreement Fee”) (i) for each commercial Letter of Credit equal to an amount per annum to be agreed at the Applicable Rate for Revolving Credit Loans time of issuance times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit and (whether or not such maximum ii) for each standby Letter of Credit equal to the Applicable Margin times the daily amount is then in effect available to be drawn under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees Fees 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 applicable L/C Issuer pursuant to this Section 2.03 2.19 shall be payable, to the maximum extent permitted by applicable Lawlaw, to the other Lenders in accordance with the upward adjustments in their respective Pro Rata Shares Share allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.19(a)(iv), with the balance of such fee, if any, payable to the such L/C Issuer for its own account. Such For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit fees shall be computed on a quarterly basis determined in arrearsaccordance with Section 1.4. Such Letter of Credit fees Fees shall be (i) due and payable in Dollars on the first last Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demanddemand and (ii) computed on a quarterly basis in arrears. If there is any change in any the Applicable Rate for Revolving Credit Loans Margin during any quarter, the daily maximum amount of available to be drawn under each standby Letter of Credit shall be computed and multiplied by such the Applicable Rate Margin separately for each period during such quarter that such Applicable Rate Margin was in effect.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Lannett Co Inc), Credit and Guaranty Agreement (Lannett Co Inc)

Letter of Credit Fees. The Borrower shall pay pay, to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) its L/C Risk Participation in each Letter of Credit, a Letter of Credit fee in Dollars for each such Letter of Credit issued pursuant to this Agreement for the period from the date of issuance of such Letter of Credit until the expiry thereof, at a per annum rate equal to the Applicable Margin for LIBOR Loans (plus two percent (2.00%) during such time that the Default Rate for Revolving Credit Loans times is in effect with respect to the Dollar Equivalent of Obligations pursuant to Section 2.07(c)) applicable from time to time during such period multiplied by the actual daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, that any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 2.16(c) shall be payable, to the maximum extent permitted by applicable LawGovernmental Rules, to the other Revolving Lenders in accordance with the upward adjustments in of their respective Pro Rata Shares allocable to participations in such Letter of Credit pursuant to Section 2.17(a)(iv2.16(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account; provided, however, that if the Borrower has provided Cash Collateral satisfactory to the L/C Issuer in respect of such Defaulting Lender’s obligations in respect of such Letter of Credit, the balance of such fee, if any, shall be payable to the Borrower. Such fee for each Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable quarterly in Dollars arrears on the first last Business Day after the end of each March, June, September and Decembercalendar quarter, commencing with the first such date day to occur after the issuance of such Letter of Credit, Credit and on the Letter of Credit Expiration Date Date. Each such fee, when due, shall be fully earned and thereafter on demandwhen paid, shall be non-refundable. If there is any change in any the Applicable Rate Margin for Revolving Credit LIBOR Loans during any fiscal quarter, the daily maximum amount Applicable Margin used for the calculation of each the Letter of Credit fee shall be computed and multiplied by such the Applicable Rate separately Margin for LIBOR Loans on each period day during such quarter that such Applicable Rate was in effectquarter.

Appears in 2 contracts

Samples: Credit Agreement (Arc Document Solutions, Inc.), Credit Agreement (Arc Document Solutions, Inc.)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its applicable Pro Rata Share or other applicable share provided for under this Agreement) Share, a Letter of Credit fee in Dollars which shall accrue for each Letter of Credit issued pursuant to this Agreement in an amount equal to the Applicable Rate then in effect for Eurocurrency Rate Loans with respect to the Revolving Credit Loans times the Dollar Equivalent of Facility multiplied by the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically automatically pursuant to the terms of such Letter of Credit); provided, however, that any Letter of Credit fees 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 applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Revolving Credit Lenders in accordance with the upward adjustments in their respective applicable Pro Rata Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(iv), with the balance of such fee, if any, payable to the applicable L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees arrears and shall be due and payable in Dollars on the first last Business Day after the end of each Marchfiscal quarter, Junein respect of the quarterly period then ending (or portion thereof, September and Decemberin the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 2 contracts

Samples: Credit Agreement (PurposeBuilt Brands, Inc.), Credit Agreement (PPD, Inc.)

Letter of Credit Fees. The Borrower Company shall pay to the Revolving Facility Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) its Applicable Percentage, in Dollars, a Letter of Credit fee in Dollars (the “Letter of Credit Fee”) for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans denominated in Dollars and maintained as SOFR Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees Fees 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 Applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Revolving Lenders in accordance with the upward adjustments in their respective Pro Rata Shares Applicable Percentages allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.15(a)(iv), with the balance of such fee, if any, payable to the Applicable L/C Issuer for its own accountaccount (except to the extent that the Company has provided Cash Collateral with respect to all or a portion of such Letter of Credit, in which case the balance of such fee (or the applicable portion thereof, as applicable) shall not be payable). Such For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit fees shall be computed on a quarterly basis determined in arrearsaccordance with Section 1.09. Such Letter of Credit fees Fees shall be (i) due and payable in Dollars on the first last Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demanddemand and (ii) computed on a quarterly basis in arrears. If there is any change in any the Applicable Rate for Revolving Credit Loans denominated in Dollars and maintained as SOFR Loans during any quarter, the daily maximum amount of available to be drawn under each Letter of Credit shall be computed and multiplied by such the Applicable Rate for Revolving Loans denominated in Dollars and maintained as SOFR Loans separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, upon the request of the Required Revolving Lenders, all Letter of Credit Fees shall accrue at the Default Rate.

Appears in 2 contracts

Samples: Incremental Joinder (SS&C Technologies Holdings Inc), Incremental Joinder & First Amendment to Credit Agreement (SS&C Technologies Holdings Inc)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its applicable Pro Rata Share or other applicable share provided for under this Agreement) Share, a Letter of Credit fee in Dollars which shall accrue for each Letter of Credit issued pursuant to this Agreement of each Tranche in an amount equal to the Applicable Rate then in effect for SOFR Loans with respect to the Revolving Credit Loans times the Dollar Equivalent of Facility multiplied by the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically automatically pursuant to the terms of such Letter of Credit); provided, however, that any Letter of Credit fees 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 applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Revolving Credit Lenders under the applicable Tranche in accordance with the upward adjustments in their respective applicable Pro Rata Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(iv)2.17(a)iv, with the balance of such fee, if any, payable to the applicable L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees arrears and shall be due and payable in Dollars on the first last Business Day after the end of each Marchfiscal quarter, Junein respect of the quarterly period then ending (or portion thereof, September and Decemberin the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, and on the Letter of Credit Expiration Date and thereafter on demandDate. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 2 contracts

Samples: Credit Agreement (Allison Transmission Holdings Inc), Credit Agreement (Allison Transmission Holdings Inc)

Letter of Credit Fees. The Borrower Company shall pay to the Administrative Agent for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans that are Term Benchmark Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 2 contracts

Samples: Credit Agreement (Hilton Grand Vacations Inc.), Credit Agreement (Hilton Grand Vacations Inc.)

Letter of Credit Fees. The Borrower Borrowers shall pay pay, to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) its L/C Risk Participation in each Letter of Credit, a Letter of Credit fee in Dollars for each such Letter of Credit issued pursuant to this Agreement for the period from the date of issuance of such Letter of Credit until the expiry thereof, at a per annum rate equal to the Applicable Margin for LIBOR Loans (plus two percent (2.00%) during such time that the Default Rate for Revolving Credit Loans times is in effect with respect to the Dollar Equivalent of Obligations pursuant to Section 2.07(c)) applicable from time to time during such period multiplied by the actual daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, that any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 2.16(c) shall be (x) payable, to the maximum extent permitted by applicable LawGovernmental Rules, to the other Lenders in accordance with the upward adjustments in of their respective Pro Rata Shares allocable to participations in such Letter of Credit pursuant to Section 2.17(a)(iv), 2.16(a)(iv) and (y) with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such fee for each Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable quarterly in Dollars arrears on the first last Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, Credit and on the Letter of Credit Expiration Date Date. Each such fee, when due, shall be fully earned and thereafter on demandwhen paid, shall be non-refundable. If there is any change in any the Applicable Rate Margin for Revolving Credit LIBOR Loans during any quarter, the daily maximum amount Applicable Margin used for the calculation of each the Letter of Credit fee shall be computed and multiplied by such the Applicable Rate separately Margin for LIBOR Loans on each period day during such quarter that such Applicable Rate was in effectquarter.

Appears in 2 contracts

Samples: Credit Agreement (Monarch Casino & Resort Inc), Credit Agreement (Monarch Casino & Resort Inc)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders Lender for the applicable Revolving Credit Facility (in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) Agreement a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount Dollar Amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 applicable L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv2.15(a)(iv), with the balance of such fee, if any, payable to the such L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 2 contracts

Samples: Credit Agreement (Res Care Inc /Ky/), Credit Agreement (Res Care Inc /Ky/)

Letter of Credit Fees. The Borrower shall agrees to pay to the Administrative Agent for the account of each Revolving Lender a letter of credit fee at a rate per annum equal to the Applicable Margin for Revolving Credit Lenders for Loans that are LIBOR Loans times the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) a daily average Stated Amount of each Letter of Credit for the period from and including the date of issuance of such Letter of Credit (x) to and including the date such Letter of Credit expires or is cancelled or terminated or (y) to but excluding the date such Letter of Credit is drawn in full; provided, however, notwithstanding anything to the contrary contained herein, while the Obligations are accruing interest at the Post-Default Rate, such letter of credit fees shall accrue at the Post-Default Rate. In addition to such fees, the Borrower shall pay to an Issuing Bank solely for its own account, a fronting fee in Dollars for respect of each Letter of Credit issued pursuant to this Agreement by such Issuing Bank equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent 0.125% of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms initial Stated Amount of such Letter of Credit); provided, however, in no event shall the aggregate amount of such fee in respect of any Letter of Credit be less than $1,000. The fees otherwise payable provided 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 L/C Issuer pursuant to in this Section 2.03 subsection shall be nonrefundable and payable, to in the maximum extent permitted by applicable Lawcase of the fee provided for in the first sentence, 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a arrears (i) quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after day of January, April, July and October, (ii) on the end Revolving Termination Date, (iii) on the date the Revolving Commitments are terminated or reduced to zero and (iv) thereafter from time to time on demand of each Marchthe Administrative Agent and in the case of the fee provided for in the second sentence, June, September and December, commencing with at the first such date to occur after the time of issuance of such Letter of Credit. The Borrower shall pay directly to an Issuing Bank from time to time on demand all commissions, on charges, costs and expenses in the amounts customarily charged or incurred by such Issuing Bank from time to time in like circumstances with respect to the issuance, amendment, renewal or extension of any Letter of Credit Expiration Date and thereafter on demand. If there is or any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectother transaction relating thereto.

Appears in 2 contracts

Samples: Credit Agreement (Equity Commonwealth), Credit Agreement (Equity Commonwealth)

Letter of Credit Fees. In consideration of issuance of standby Letters of Credit hereunder, the Borrower agrees to pay to the applicable Issuing Lender (i) a fee (the "Standby Letter of Credit Fee") on such Lender's Revolving Commitment Percentage of the average daily maximum amount available to be drawn under each such standby Letter of Credit computed at a per annum rate for each day from the date of issuance to the date of expiration equal to the Applicable Percentage, (ii) a fee (the "Trade Letter of Credit Fee") on such Lender's Revolving Commitment Percentage of the average daily maximum amount available to be drawn under each such trade Letter of Credit computed at a per annum rate for each day from the date of issuance to the date of expiration equal to the Applicable Percentage and (iii) an additional fronting fee (the "Fronting Fee") of one-eighth of one percent (0.125%) per annum on the average daily maximum amount available to be drawn under each standby Letter of Credit issued by it (such fronting fee shall be for the account of the applicable Issuing Lender without sharing by the other Lenders). The Borrower applicable Issuing Lender shall promptly pay over to the Administrative Agent for the account ratable benefit of the Revolving Credit Lenders for (including the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this AgreementIssuing Lender) a the Standby Letter of Credit fee in Dollars for each Fee and the Trade Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Fee. The Standby Letter of Credit (whether or not such maximum amount is then in effect under such Fee, the Trade Letter of Credit if such maximum amount increases periodically pursuant to Fee and the terms Fronting Fee shall be payable quarterly in arrears on the 15th day following the last day of such Letter of Credit); provided, however, any Letter of Credit fees otherwise payable each calendar quarter 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 L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any prior calendar quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 1 contract

Samples: Credit Agreement (Dollar Tree Stores Inc)

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Letter of Credit Fees. The TheEach Borrower shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) Share, a Letter of Credit fee in Dollars (the “L/C Fee”) for each Letter of Credit issued pursuant to this Agreement for which such Borrower is the applicant or co-applicant, as applicable, equal to the Applicable Rate then in effect for Eurodollar Rate Loans with respect to the Revolving Credit Loans Facility in respect of which such Revolving Credit Lender holds Revolving Credit Commitments times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically automatically pursuant to the terms of such Letter of Credit), in each case, without duplication; provided that the L/C Fee shall be increased by 2.00% per annum following the occurrence and during the continuation of an Event of Default arising pursuant to Section 8.01(a), (f) or (g); provided, however, that (i) any Letter of Credit fees L/C 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 applicable L/C Issuer pursuant to this Section 2.03 and Section 2.15 and as to which the Fronting Exposure of such Defaulting Lender has been reallocated 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 2.16(a)(iv) 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 2.17(a)(iv2.16(a)(iv), with the balance of such feeL/C Fee, if any, payable to the applicable L/C Issuer for its own accountaccount and (ii) for the avoidance of doubt, the L/C Fee shall be due and payable in full regardless of whether all or a portion of the Letters of Credit outstanding have been Cash Collateralized. Such Letter of Credit fees L/C Fee shall be computed on a quarterly basis in arrears. Such Letter of Credit fees L/C Fee shall be due and payable in Dollars on the first last Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 1 contract

Samples: Amendment No. 2 (TGPX Holdings I LLC)

Letter of Credit Fees. In consideration of issuance of standby Letters of Credit hereunder, the Borrower agrees to pay to the applicable Issuing Lender (i) a fee (the “Standby Letter of Credit Fee”) on such Lender’s Revolving Commitment Percentage of the average daily maximum amount available to be drawn under each such standby Letter of Credit computed at a per annum rate for each day from the date of issuance to the date of expiration equal to the Applicable Percentage, (ii) a fee (the “Trade Letter of Credit Fee”) on such Lender’s Revolving Commitment Percentage of the average daily maximum amount available to be drawn under each such trade Letter of Credit computed at a per annum rate for each day from the date of issuance to the date of expiration equal to the Applicable Percentage and (iii) an additional fronting fee (the “Fronting Fee”) of one-eighth of one percent (0.125%) per annum on the average daily maximum amount available to be drawn under each standby Letter of Credit issued by it (such fronting fee shall be for the account of the applicable Issuing Lender without sharing by the other Lenders). The Borrower applicable Issuing Lender shall promptly pay over to the Administrative Agent for the account ratable benefit of the Revolving Credit Lenders for (including the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this AgreementIssuing Lender) a the Standby Letter of Credit fee in Dollars for each Fee and the Trade Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Fee. The Standby Letter of Credit (whether or not such maximum amount is then in effect under such Fee, the Trade Letter of Credit if such maximum amount increases periodically pursuant to Fee and the terms Fronting Fee shall be payable quarterly in arrears on the 15th day following the last day of such Letter of Credit); provided, however, any Letter of Credit fees otherwise payable each calendar quarter 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 L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any prior calendar quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 1 contract

Samples: Credit Agreement (Dollar Tree Stores Inc)

Letter of Credit Fees. The In consideration of LC Issuer’s issuance of any Letter of Credit, Borrower shall agrees to pay (a) to the Administrative Agent Agent, for the account of the Revolving Credit all Lenders for the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) respective Applicable Percentages, a letter of credit issuance fee at a rate equal to the Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Fee Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under (which fee shall be increased by 2.0% per annum during any period in which interest on the Loans accrues at the Default Rate), and (b) to such Letter LC Issuer for its own account, a letter of Credit if such maximum credit fronting fee at a rate equal to 0.20% per annum times the face amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees Fees 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 L/C LC Issuer pursuant to this Section 2.03 2.9 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 Applicable Percentages allocable to such Letter of Credit pursuant to Section 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C LC Issuer for its own account. Such Letter of Credit In addition, Borrower will pay to LC Issuer LC Issuer’s customary fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due for issuance, amendment and payable in Dollars on the first Business Day after the end drawing of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, . The letter of credit fee and the letter of credit fronting fee will be calculated on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum undrawn face amount of each Letter of Credit shall outstanding on each day at the above-applicable rates and will be computed due and multiplied by such Applicable Rate separately for payable in arrears on the last Business Day of each period during such quarter that such Applicable Rate was in effectFiscal Quarter and at the end of the Commitment Period.

Appears in 1 contract

Samples: Credit Agreement (Magnum Hunter Resources Corp)

Letter of Credit Fees. The Company or a Borrower shall pay to the Administrative Agent for the account of the each Participating Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) Agreement a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount Dollar Amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the applicable Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 1 contract

Samples: First Lien Credit Agreement (Liberty Global PLC)

Letter of Credit Fees. The applicable Borrower shall pay to the Administrative Agent for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (each Lender in accordance with their its applicable Pro Rata Share or other applicable share provided for under this Agreement) Share, a Letter of Credit fee in Dollars which shall accrue for each Letter of Credit issued pursuant to this Agreement under the Facility in an amount equal to the Applicable Rate then in effect for Revolving Credit SOFR Rate Loans times the Dollar Equivalent of multiplied by the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically automatically pursuant to the terms of such Letter of Credit), but excluding any portion thereof attributable to Unreimbursed Amounts; provided, however, that any Letter of Credit fees 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 applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Lenders in accordance with the upward adjustments in their respective applicable Pro Rata Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(iv), with the balance of such fee, if any, payable to the applicable L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees arrears and shall be due and payable in Dollars on the first last Business Day after the end of each Marchfiscal quarter, Junein respect of the quarterly period then ending (or portion thereof, September and Decemberin the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 1 contract

Samples: Abl Credit Agreement (V2X, Inc.)

Letter of Credit Fees. (i) The Borrower shall pay to the Administrative Agent for the account of the Revolving Credit Lenders for Issuing Lender only, and not the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or account of any other applicable share provided for under this Agreement) Lender, a Letter of Credit one-time fee in Dollars for respect of each Letter of Credit issued pursuant at the rate equal to this Agreement one-eighth of one percent (0.125%) of the Stated Amount of each Letter of Credit. Such fee shall be non-refundable and payable upon issuance of such Letter of Credit. (ii) The Borrower agrees to pay to the Agent for the account of each Lender a letter of credit fee at a rate per annum equal to the then current Applicable Rate Margin for Revolving Credit Loans that are LIBOR Loans times the Dollar Equivalent daily average Stated Amount of each Letter of Credit for the daily maximum amount then available to be drawn under period from and including the date of issuance or extension of such Letter of Credit (whether or not such maximum amount is then in effect under A) to and including the date such Letter of Credit if such maximum amount increases periodically pursuant expires or is terminated or (B) to but excluding the terms of date such Letter of Credit); providedCredit is drawn in full. Such fees shall be nonrefundable and payable in arrears on the last Business Day of March, howeverJune, any September and December in each year, on the Termination Date, and on the date the Commitments are terminated or reduced to zero. During the continuance of an Event of Default, the Letter of Credit fees otherwise fee 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 L/C Issuer pursuant to this Section 2.03 3.6(b)(ii) shall be payable, payable at a rate per annum equal to the maximum extent permitted by applicable Law, to sum of (x) the other Lenders in accordance with the upward adjustments in their respective Pro Rata Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(ivApplicable Margin for Revolving Loans that are LIBOR Loans plus (y) four percent (4.0%), with the balance of and such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable upon demand. (iii) The Borrower shall pay directly to the Issuing Lender from time to time on demand all commissions, charges, costs and expenses in Dollars on the first Business Day after amounts customarily charged by the end of each March, June, September and December, commencing Issuing Lender from time to time in like circumstances with the first such date respect to occur after the issuance of such each Letter of Credit, on the Letter of Credit Expiration Date drawings, amendments and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectother transactions relating thereto.

Appears in 1 contract

Samples: Credit Agreement (Wells Real Estate Investment Trust Ii Inc)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its applicable Pro Rata Share or other applicable share provided for under this Agreement) Share, a Letter of Credit fee in Dollars which shall accrue for each Letter of Credit issued pursuant to this Agreement of each Tranche in an amount equal to the Applicable Rate then in effect for Eurocurrency Rate Loans with respect to the Revolving Credit Loans times the Dollar Equivalent of Facility multiplied by the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically automatically pursuant to the terms of such Letter of Credit); provided, however, that any Letter of Credit fees 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 applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Revolving Credit Lenders under the applicable Tranche in accordance with the upward adjustments in their respective applicable Pro Rata Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(iv)2.17(a)iv, with the balance of such fee, if any, payable to the applicable L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees arrears and shall be due and payable in Dollars on the first last Business Day after the end of each Marchfiscal quarter, Junein respect of the quarterly period then ending (or portion thereof, September and Decemberin the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, and on the Letter of Credit Expiration Date and thereafter on demandDate. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 1 contract

Samples: Credit Agreement (Allison Transmission Holdings Inc)

Letter of Credit Fees. The U.S. Borrower shall pay to the Administrative Agent for the account of the Revolving Credit Lenders for the applicable Revolving Credit each U.S. Dollar Facility (Lender in accordance with their its Pro Rata rata Share or other applicable share provided for under this Agreement) a Letter of Credit fee in Dollars for each (the “U.S. Dollar Facility Letter of Credit issued pursuant Fee”) (i) for each commercial U.S. Dollar Facility Letter of Credit equal to this Agreement (x) the Applicable Rate for commercial Letters of Credit times (y) the daily amount available to be drawn under such U.S. Dollar Facility Letter of Credit and (ii) for each standby U.S. Dollar Facility Letter of Credit equal to the Applicable Rate for Revolving standby Letters of Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such U.S. Dollar Facility Letter of Credit); provided, however, any U.S. Dollar Facility Letter of Credit fees Fees otherwise payable for the account of a Defaulting Lender with respect to any U.S. Dollar Facility Letter of Credit as to which such Defaulting Lender has not provided Cash Collateral satisfactory to the U.S. Dollar Facility L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other U.S. Dollar Facility Lenders in accordance with the upward adjustments in their respective Pro Rata rata Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.16(a)(iv), with the balance of such fee, if any, payable to the U.S. Dollar Facility L/C Issuer for its own account. Such The applicable Borrower shall pay to the applicable Facility Agent for the account of each Multicurrency Facility Lender in accordance with its Pro rata Share a Letter of Credit fees shall be computed on a quarterly basis in arrears. Such fee (the “Multicurrency Facility Letter of Credit fees shall be due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.Fee”)

Appears in 1 contract

Samples: Credit Agreement (Carters Inc)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Lender under any Revolving Credit Facility (Tranche in accordance with their its applicable Pro Rata Share or other applicable share provided for under this Agreement) Share, a Letter of Credit fee in Dollars which shall accrue for each Letter of Credit issued pursuant to this Agreement under such Revolving Tranche in an amount equal to the Applicable Rate Margin then in effect for SOFR Loans with respect to the Revolving Credit Loans times the Dollar Equivalent of Facility multiplied by the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically automatically pursuant to the terms of such Letter of Credit); provided, however, that any Letter of Credit fees 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 applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Revolving Credit Lenders under the applicable Revolving Tranche in accordance with the upward adjustments in their respective applicable Pro Rata Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(iv), with the balance of such fee, if any, payable to the applicable L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees arrears and shall be due and payable in Dollars on the first Business Day after following the end last day of each Marchfiscal quarter, Junein respect of the quarterly period then ending (or portion thereof, September and Decemberas applicable), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans Margin during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate Margin separately for each period during such quarter that such Applicable Rate Margin was in effect.

Appears in 1 contract

Samples: Credit Agreement (Tremor International Ltd.)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) its Applicable Percentage, in U.S. Dollars, a Letter of Credit fee in Dollars (the “Letter of Credit Fee”) for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the U.S. Dollar Equivalent determined as of the last Business Day of each March, June, September and December of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, provided that any Letter of Credit fees Fees 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 applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Revolving Credit Lenders in accordance with the upward adjustments in their respective Pro Rata Shares Applicable Percentages allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.16(a)(iv), with the balance of such fee, if any, payable to the applicable L/C Issuer for its own account. Such For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit fees shall be computed on a quarterly basis determined in arrearsaccordance with Section 1.06. Such Letter of Credit fees Fees shall be (i) due and payable in Dollars on the first last Business Day after the end of each December, March, June, September and DecemberSeptember, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demanddemand and (ii) computed on a quarterly basis in arrears. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of available to be drawn under each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 1 contract

Samples: Credit Agreement (Post Holdings, Inc.)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (each Lender in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) its Applicable Percentage a Letter of Credit fee in Dollars (the “Letter of Credit Fee”) for each Letter of Credit issued pursuant to this Agreement at a rate per annum equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees Fees 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 L/C Issuer pursuant to this Section 2.03 2.15 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 Applicable Percentages allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.16(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit fees shall be computed on a quarterly basis determined in arrearsaccordance with Section 1.06. Such Letter of Credit fees Fees shall be (i) due and payable in Dollars on the first Business Day after the end of each March, June, September and Decemberfiscal quarter of the Borrower, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demanddemand and (ii) computed on a quarterly basis in arrears. If there is any change in any such Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of available to be drawn under each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, upon the request of the Required Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate.

Appears in 1 contract

Samples: Revolving Credit Agreement (MSCI Inc.)

Letter of Credit Fees. The Borrower Borrowers shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) Share, a Letter of Credit fee in Dollars which shall accrue for each Letter of Credit issued pursuant to this Agreement of each Tranche in an amount equal to the Applicable Rate then in effect for Eurocurrency Rate Loans with respect to the Revolving Credit Loans times the Dollar Equivalent of Facility multiplied by the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, that any Letter of Credit fees 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 applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Lenders under the applicable Tranche in accordance with the upward adjustments in their respective Pro Rata Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.19(a)(iv), with the balance of such fee, if any, payable to the applicable L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees arrears and shall be due and payable in Dollars on the first last Business Day after the end of each March, June, September and December, in respect of the quarterly period then ending (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Each payment of fees under this clause (h) on any Letters of Credit shall be made in Dollars.

Appears in 1 contract

Samples: Credit Agreement (Axalta Coating Systems Ltd.)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) Share, a Letter of Credit fee in Dollars which shall accrue for each Letter of Credit issued pursuant to this Agreement of each Revolving Facility in an amount equal to the Applicable Rate then in effect for Eurocurrency Rate Loans with respect to the Revolving Credit Loans times the Dollar Equivalent of Facility multiplied by the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, that any Letter of Credit fees 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 applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Revolving Credit Lenders under the applicable Revolving Facility in accordance with the upward adjustments in their respective Pro Rata Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(iv), with the balance of such fee, if any, payable to the applicable L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees arrears and shall be due and payable in Dollars on the first last Business Day after the end of each March, June, September and December, in respect of the quarterly period then ending (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Each payment of fees under this clause (g) on any Letters of Credit shall be made in Dollars in accordance with the Dollar Amount thereof (calculated as of the date of payment of such fees).

Appears in 1 contract

Samples: Credit Agreement (Medpace Holdings, Inc.)

Letter of Credit Fees. The In consideration of LC Issuer’s issuance of any Letter of Credit, Borrower shall agrees to pay (a) to the Administrative Agent Agent, for the account of the Revolving Credit all Lenders for the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) respective Applicable Percentages, a letter of credit issuance fee at a rate 48 equal to the Letter of Credit Fee Rate then in effect (which fee shall be increased by 2.0% per annum during any period in Dollars which interest on the Loans accrues at the Default Rate), and (b) to such LC Issuer for each its own account, a letter of credit fronting fee at a rate specified in the Fee Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent face amount of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then but in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Creditno event less than $500 per annum); provided, however, any Letter of Credit fees 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 L/C LC Issuer pursuant to this Section 2.03 2.8 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 Applicable Percentages allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.16(a)(iv), with the balance of such fee, if any, payable to the L/C LC Issuer for its own account. Such Letter of Credit In addition, Borrower will pay to LC Issuer LC Issuer’s customary fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due for issuance, amendment and payable in Dollars on the first Business Day after the end drawing of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, . The letter of credit fee and the letter of credit fronting fee will be calculated on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum undrawn face amount of each Letter of Credit shall outstanding on each day at the above-applicable rates and will be computed due and multiplied by such Applicable Rate separately for payable in arrears on the last Business Day of each period during such quarter that such Applicable Rate was in effectFiscal Quarter and at the end of the Commitment Period.

Appears in 1 contract

Samples: Credit Agreement (Alta Mesa Resources, Inc. /DE)

Letter of Credit Fees. The applicable Borrower shall pay to the Administrative Agent for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first last Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 1 contract

Samples: Credit Agreement (CONDUENT Inc)

Letter of Credit Fees. The (i) Each Borrower shall pay to the Administrative Agent for the account of each Appropriate Lender a commission on such Lender’s Ratable Share of the Revolving Credit Lenders for the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) a Letter average daily aggregate Available Amount of Credit fee in Dollars for each Letter all Letters of Credit issued pursuant for the account of such Borrower and outstanding from time to this Agreement time at a rate per annum equal to the Applicable Margin for Eurocurrency Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then Advances in effect under from time to time during such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv), with the balance of such fee, if anycalendar quarter, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a in arrears quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after the end last day of each March, June, September and December, commencing with the first quarter ended December 31, 2011, and on the Termination Date applicable to such date Lender; provided, further, that (x) to occur after the issuance extent that all or a portion of the Fronting Exposure in respect of any Defaulting Lender is reallocated to the Non-Defaulting Lenders pursuant to Section 2.20(a), such fees that would have accrued for the benefit of such Letter Defaulting Lender will instead accrue for the benefit of Creditand be payable to such Non-Defaulting Lenders, on pro rata in accordance with their respective Revolving Credit Commitments under the Letter applicable Facility, and (y) to the extent that all or any portion of such Fronting Exposure cannot be so reallocated, such fees will instead accrue for the benefit of and be payable to the respective Issuing Banks ratably according to the outstanding Letters of Credit Expiration Date issued by each Issuing Bank under such Facility. (ii) Each Borrower shall pay to each Issuing Bank, for its own account, a fronting fee and thereafter on demand. If there is any change such other commissions, issuance fees, transfer fees and other fees and charges in any Applicable Rate for Revolving Credit Loans during any quarter, connection with the daily maximum amount Issuance or administration of each Letter of Credit as such Borrower and such Issuing Bank shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectagree.

Appears in 1 contract

Samples: Credit Agreement (International Flavors & Fragrances Inc)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its applicable Pro Rata Share or other applicable share provided for under this Agreement) Share, a Letter of Credit fee in Dollars which shall accrue for each Letter of Credit issued pursuant to this Agreement on the Dollar Amount thereof in an amount equal to the Applicable Rate then in effect for SOFR Loans, Eurocurrency Rate Loans, or XXXXX Loans or Alternative Currency Term Rate Loans, as applicable, with respect to the Revolving Credit Loans times the Dollar Equivalent of Facility multiplied by the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically automatically pursuant to the terms of such Letter of Credit); provided, however, that any Letter of Credit fees 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 applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Revolving Credit Lenders in accordance with the upward adjustments in their respective applicable Pro Rata Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(iv), with the balance of such fee, if any, payable to the applicable L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees arrears and shall be due and payable in Dollars on the first last Business Day after the end of each Marchfiscal quarter, Junein respect of the quarterly period then ending (or portion thereof, September and Decemberin the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, the date of termination or expiration of the applicable Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 1 contract

Samples: Credit Agreement (Instructure Holdings, Inc.)

Letter of Credit Fees. The Each Borrower shall agrees to pay to the Administrative Agent Agent, for the pro rata account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) respective Percentages, a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to (the Applicable Rate “Letter of Credit Fee”) for Revolving Credit Loans times the Dollar Equivalent period from the date of the daily maximum amount then available to be drawn under issuance of such Letter of Credit (whether or not for the account such maximum amount is then in effect under Borrower to the date upon which such Letter of Credit if expires or is otherwise terminated, of (a) in the case of each Commercial Letter of Credit issued for the account of such maximum amount increases periodically pursuant to Borrower, 0.75% per annum times the terms Stated Amount of such Letter of Credit); provided, howeverand (b) in the case of each Standby Letter of Credit issued for the account of such Borrower, the LC Fee Rate per annum in effect from time to time times the Stated Amount of such Letter of Credit. Such fee shall be payable by the applicable Borrower in arrears on each Payment Date and on the Termination Date (and thereafter on demand) for the period then ending for which such fee shall not theretofore have been paid. Notwithstanding the foregoing or any other provision of this Agreement, any Letter of Credit fees Fees 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 L/C applicable Issuer pursuant to this Section 2.03 5.8 shall be payable, to the maximum extent permitted by applicable Lawlaw, to the other Lenders in accordance with the upward adjustments in their respective Pro Rata Shares Percentages allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.7(a)(iv), with the balance of such fee, if any, payable to the L/C such Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 1 contract

Samples: Credit Agreement (Triton International LTD)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the Revolving Credit Working Capital Lenders for the applicable Revolving Credit Working Capital Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first last Business Day after the end of each March, June, September and DecemberDecember and on the Maturity Date, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 1 contract

Samples: Credit Agreement (Summit Midstream Partners, LP)

Letter of Credit Fees. In consideration of issuance of standby Letters of Credit hereunder, the Borrower agrees to pay to the applicable Issuing Lender (i) a fee (the "Standby Letter of Credit Fee") on such Lender's Revolving Commitment Percentage of the average daily maximum amount available to be drawn under each such standby Letter of Credit computed at a per annum rate for each day from the date of issuance to the date of expiration equal to the Applicable Percentage, (ii) a fee (the "Trade Letter of Credit Fee") on such Lender's Revolving Commitment Percentage of the average daily maximum amount available to be drawn under each such trade Letter of Credit computed at a per annum rate for each day from the date of issuance to the date of expiration equal to the Applicable Percentage and (iii) an additional fronting fee (the "Fronting Fee")of one-eighth of one percent (0.125%) per annum on the average daily maximum amount available to be drawn under each standby Letter of Credit issued by it (such fronting fee shall be for the account of the applicable Issuing Lender without sharing by the other Lenders). The Borrower applicable Issuing Lender shall promptly pay over to the Administrative Agent for the account ratable benefit of the Revolving Credit Lenders for (including the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this AgreementIssuing Lender) a the Standby Letter of Credit fee in Dollars for each Fee and the Trade Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Fee. The Standby Letter of Credit (whether or not such maximum amount is then in effect under such Fee, the Trade Letter of Credit if such maximum amount increases periodically pursuant to Fee and the terms Fronting Fee shall be payable quarterly in arrears on the 15th day following the last day of such Letter of Credit); provided, however, any Letter of Credit fees otherwise payable each calendar quarter 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 L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any prior calendar quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 1 contract

Samples: Credit Agreement (Dollar Tree Stores Inc)

Letter of Credit Fees. The Borrower shall agrees to pay (a) to the Administrative Agent for the account ratable benefit of the Revolving Credit Lenders for Lenders, a letter of credit fee equal to the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) a Applicable Letter of Credit Fee Rate in effect from time to time on the aggregate daily amount available for drawing under the outstanding Letters of Credit, such fee to be paid in Dollars arrears on the last Business Day of each calendar quarter, and on the Facility Termination Date and (b) to the applicable Issuer for its own account as issuing bank, a one time facing fee of 0.125% of the amount available for drawing under each Letter of Credit issued pursuant to this Agreement equal to by such Issuer, payable upon the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent issuance of the daily maximum amount then available to be drawn under each such Letter of Credit (whether issued on or not such maximum amount is then after the Effective Date and all customary fees and other issuance, amendment, negotiation and presentment expenses and related charges in effect under such Letter connection with the issuance, amendment, presentation of Credit if such maximum amount increases periodically pursuant L/C Drafts, and the like customarily charged by the applicable Issuer to the terms other customers of such Letter Issuer of Credit); provided, however, any Letter of Credit fees otherwise payable for the account of a Defaulting Lender comparable creditworthiness with respect to any Letter standby letters of Credit credit and commercial letters of credit, payable at the time of invoice of such amounts. Anything herein to the contrary notwithstanding, during such period as to which a Lender is a Defaulting Lender, such Defaulting Lender has will not provided Cash Collateral satisfactory be entitled to any letter of credit fees accruing during such period pursuant to clause (a) above (without prejudice to the L/C Issuer pursuant to this Section 2.03 shall be payable, to rights of the maximum extent permitted by applicable Law, to the Lenders other than Defaulting Lenders in accordance with the upward adjustments in their respective Pro Rata Shares allocable to respect of such Letter letter of Credit pursuant to Section 2.17(a)(ivcredit fees), with and such letter of credit fees that would have accrued for the balance benefit of such fee, if any, Defaulting Lender will instead accrue for the benefit of and be payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectapplicable Issuer.

Appears in 1 contract

Samples: Credit Agreement (Omnicare Inc)

Letter of Credit Fees. The Borrower Borrowers shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Lender under any Revolving Credit Facility (Tranche in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) Share, a Letter of Credit fee in Dollars which shall accrue for each Letter of Credit issued pursuant to this Agreement under such Revolving Tranche in an amount equal to the Applicable Rate then in effect for Revolving Credit Eurocurrency Rate Loans times the Dollar Equivalent of with respect to such Tranche multiplied by the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, that any Letter of Credit fees 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 applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Lenders under the applicable Tranche in accordance with the upward adjustments in their respective Pro Rata Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(iv), with the balance of such fee, if any, payable to the applicable L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees arrears and shall be due and payable in Dollars on the first last Business Day after the end of each March, June, September and December, in respect of the quarterly period then ending (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Each payment of fees under this clause (g) on any Letters of Credit shall be made in Dollars.

Appears in 1 contract

Samples: First Lien Credit Agreement (Pivotal Acquisition Corp)

Letter of Credit Fees. The Borrower Borrowers shall pay to the Administrative Agent for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the applicable Applicable Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars the currency in which the applicable Letter of Credit is denominated on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any applicable Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such applicable Applicable Rate separately for each period during such quarter that such applicable Applicable Rate was in effect.

Appears in 1 contract

Samples: Credit Agreement (Expro Oilfield Services PLC)

Letter of Credit Fees. The Borrower Borrowers shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its applicable Pro Rata Share or other applicable share provided for under this Agreement) Share, a Letter of Credit fee in Dollars which shall accrue for each Letter of Credit issued pursuant to this Agreement on the Dollar Amount thereof in an amount equal to the Applicable Rate then in effect for Eurocurrency Rate Loans or Alternative Currency Loans, as applicable, with respect to the Revolving Credit Loans times the Dollar Equivalent of Facility multiplied by the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically automatically pursuant to the terms of such Letter of Credit); provided, however, that any Letter of Credit fees 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 applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Revolving Credit Lenders in accordance with the upward adjustments in their respective applicable Pro Rata Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(iv), with the balance of such fee, if any, payable to the applicable L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees arrears and shall be due and payable in Dollars on the first last Business Day after the end of each Marchfiscal quarter, Junein respect of the quarterly period then ending (or portion thereof, September and Decemberin the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, the date of termination or expiration of the applicable Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 1 contract

Samples: Credit Agreement (MeridianLink, Inc.)

Letter of Credit Fees. The Borrower shall pay (a) to the Administrative Agent Agent, for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (in accordance with their respective Pro Rata Share or other applicable share provided for under this Agreement) Shares, a letter of credit fee with respect to the Letter of Credit fee in Dollars Liabilities for each Letter of Credit, computed for each day from the date of issuance of such Letter of Credit issued pursuant to this Agreement the date that is the last day a drawing is available under such Letter of Credit, at a per annum rate equal to [Redacted] (which shall be increased by 2% per annum during any period in which interest on the Applicable Rate for Revolving Credit Loans Obligations accrues at the Default Rate) times the Dollar Equivalent face amount of such Letter of Credit and (b) to LC Issuer, for its own account, a letter of credit fronting fee at a rate equal to [Redacted] per annum times the daily maximum face amount then available to be drawn under of such Letter of Credit (whether or not such maximum amount is then but in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Creditno event less than [Redacted] per annum); provided, however, any Letter of Credit fees 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 L/C LC Issuer pursuant to this Section 2.03 2.19 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 2.17(a)(iv2.19(a)(iv), with the balance of such fee, if any, payable to the L/C LC Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars arrears on the first Business Day after the end last day of each MarchFiscal Quarter prior to the Maturity Date and on the Maturity Date. In addition, June, September and December, commencing Borrower agrees to pay promptly to LC Issuer any fronting or other fees that it may charge in connection with the first such date to occur after the issuance of such any Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.005697 000041 19362918.6 42 [CREDIT AGREEMENT]

Appears in 1 contract

Samples: Credit Agreement

Letter of Credit Fees. The In consideration of LC Issuer’s issuance of any Letter of Credit, the Borrower shall agrees to pay to the Administrative Agent Agent, for the account of the Revolving Credit all Lenders for the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) respective Applicable Percentages, a Letter of Credit fee in Dollars for each (the “Letter of Credit issued pursuant to this Agreement Fee”) equal to the Applicable Rate for Revolving Credit Fixed Period Eurodollar Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum (or the Default Rate during the Default Rate Period) applicable each day times the face amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees Fees 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 L/C applicable LC Issuer pursuant to this Section 2.03 2.07 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 Applicable Percentages allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.19(a)(iv), with the balance of such fee, if any, payable to the L/C applicable LC Issuer for its own account. Such Letter of Credit fees shall fee will be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars calculated on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum face amount of each Letter of Credit shall outstanding on each day at the above applicable rates and will be computed payable in arrears on the last Business Day of each Fiscal Quarter. In addition, the Borrower will pay a minimum administrative issuance fee with respect to each Letter of Credit at the rate per annum specified in such LC Issuer’s Fee Letter and multiplied such other fees and charges customarily charged by such Applicable Rate separately LC Issuer in respect of any issuance, amendment or negotiation of any Letter of Credit in accordance with such LC Issuer’s published schedule of such charges effective as of the date of such amendment or negotiation; such fees will be payable to the Administrative Agent for the account of such LC Issuer in arrears on the last Business Day of each period during such quarter that such Applicable Rate was in effectFiscal Quarter.

Appears in 1 contract

Samples: Credit Agreement (Energy Transfer Partners, L.P.)

Letter of Credit Fees. The U.S. Borrower shall pay (or cause to be paid) to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its applicable Pro Rata Share or other applicable share provided for under this Agreement) Share, a Letter of Credit fee in Dollars which shall accrue for each Letter of Credit issued pursuant to this Agreement of each Tranche in an amount equal to the Applicable Rate then in effect for Term Benchmark Rate Loans with respect to the Revolving Credit Loans times the Dollar Equivalent of Facility multiplied by the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically automatically pursuant to the terms of such Letter of Credit); provided, however, that any Letter of Credit fees 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 applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Revolving Credit Lenders under the applicable Tranche in accordance with the upward adjustments in their respective applicable Pro Rata Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(iv), with the balance of such fee, if any, payable to the applicable L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees arrears and shall be due and payable in Dollars on the first last Business Day after the end of each Marchfiscal quarter, Junein respect of the quarterly period then ending (or portion thereof, September and Decemberin the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, and on the Letter of Credit Expiration Date and thereafter on demandDate. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 1 contract

Samples: Credit Agreement (StandardAero, Inc.)

Letter of Credit Fees. The respective Borrower shall pay to the Administrative Agent for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (each Lender in accordance accordance, subject to adjustment as provided in Section 2.17, with their Pro Rata Share or other applicable share provided for under this Agreement) its Applicable Percentage, a Letter of Credit fee in Dollars (the “Letter of Credit Fee”) for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent of the actual daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees Fees 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 applicable L/C Issuer pursuant to this Section 2.03 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 Applicable Percentages allocable to such Letter of Credit pursuant to Section 2.17(a)(iv), with the balance of such fee, if any, payable to the such L/C Issuer for its own account. Such For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit fees shall be determined in accordance with Section 1.08. Letter of Credit Fees shall be (i) computed on a quarterly basis in arrears. Such Letter of Credit fees shall be arrears and (ii) due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of available to be drawn under each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, upon the request of the Required Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate.

Appears in 1 contract

Samples: Credit Agreement (Avnet Inc)

Letter of Credit Fees. The Borrower Borrowers shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) Share, a Letter of Credit fee in Dollars which shall accrue for each Letter of Credit issued pursuant to this Agreement of each Revolving Tranche in an amount equal to the Applicable Rate then in effect for Eurocurrency Rate Loans with respect to the Revolving Credit Loans times the Dollar Equivalent of Facility multiplied by the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, that any Letter of Credit fees 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 applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Lenders under the applicable Revolving Tranche in accordance with the upward adjustments in their respective Pro Rata Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(iv), with the balance of such fee, if any, payable to the applicable L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees arrears and shall be due and payable in Dollars on the first last Business Day after the end of each March, June, September and December, in respect of the quarterly period then ending (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Each payment of fees under this clause (g) on any Letters of Credit shall be made in Euros.

Appears in 1 contract

Samples: Credit Agreement (Orion Engineered Carbons S.A.)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (each Lender in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) its Applicable Percentage, in US Dollars, a Letter of Credit fee in Dollars (the “Letter of Credit Fee”) for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the US Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Credit. Each Defaulting Lender shall be entitled to receive Letter of Credit if such maximum amount increases periodically Fees pursuant to the terms of such Letter of Credit); provided, however, this Section 2.04(h) for any Letter of Credit fees otherwise payable for the account of period during which that Lender is a Defaulting Lender with respect only to any Letter the extent allocable to its Applicable Percentage of Credit as to the stated amount of Letters of Credits for which such Defaulting Lender it has not provided Cash Collateral satisfactory to the L/C Issuer pursuant to this Section 2.03 2.04; provided, however, any Letter of Credit Fees not payable for the account of a Defaulting Lender pursuant to this sentence 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 Applicable Percentages allocable to such Letter of Credit Credits pursuant to Section 2.17(a)(iv), with the balance of such feeLetter of Credit Fees, if any, payable to the L/C Issuer for its own account. Such For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit fees shall be computed on a quarterly basis determined in arrearsaccordance with Section 1.08. Such Letter of Credit fees Fees shall be (i) due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demanddemand and (ii) computed on a quarterly basis in arrears. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of available to be drawn under each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 1 contract

Samples: Revolving Credit and Guaranty Agreement (Actavis PLC)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) the aggregate Revolving Credit Facility, a Letter of Credit fee in Dollars which shall accrue for each Letter of Credit issued pursuant to this Agreement in an amount equal to the Applicable Rate then in effect for Eurodollar Rate Loans with respect to the Revolving Credit Loans times the Dollar Equivalent of Facility associated with such Lender multiplied by the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, that any Letter of Credit fees 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 reasonably satisfactory to the applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Revolving Credit Lenders in accordance with the upward adjustments in their respective Pro Rata Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.19(a)(iv), with the balance of such fee, if any, payable to the applicable L/C Issuer for its own accountaccount (unless the Borrower has provided Cash Collateral, in which case such fee shall not be due and owing in respect of the portion of the Letter of Credit which has been Cash Collateralized by the Borrower). Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees arrears and shall be due and payable in Dollars on the first last Business Day after the end of each March, June, September and December, in respect of the quarterly period then ending (or portion thereof, in the case of the first and last payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 1 contract

Samples: Credit Agreement (DHX Media Ltd.)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its applicable Pro Rata Share or other applicable share provided for under this Agreement) Share, a Letter of Credit fee in Dollars which shall accrue for each Letter of Credit issued pursuant to this Agreement under the Revolving Credit Facility in an amount equal to the Applicable Rate then in effect for Revolving Letter of Credit Loans times the Dollar Equivalent of fees multiplied by the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically automatically pursuant to the terms of such Letter of Credit); provided, however, that any Letter of Credit fees 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 applicable L/C Issuer pursuant to this Section 2.03 shall be payable, to the maximum extent permitted by applicable Law, to the other Revolving Credit Lenders in accordance with the upward adjustments in their respective applicable Pro Rata Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(iv)Error! Reference source not found., with the balance of such fee, if any, payable to the applicable L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees arrears and shall be due and payable in Dollars on the first last Business Day after the end of each MarchApril, JuneJuly, September October and DecemberJanuary, in respect of the quarterly period then ending (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 1 contract

Samples: Credit Agreement (V2X, Inc.)

Letter of Credit Fees. (i) The Borrower shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for Lender a commission on such Lender’s Ratable Share of the applicable Revolving Credit Facility (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) a Letter average daily aggregate Available Amount of Credit fee in Dollars for each Letter all Letters of Credit issued pursuant for the account of the Borrower and outstanding from time to this Agreement time at a rate per annum equal to the Applicable Margin for Eurocurrency Rate for Advances under the Revolving Credit Loans times Facilities in effect from time to time during such calendar quarter, payable in arrears quarterly on the Dollar Equivalent last day of each fiscal quarter of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 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 2.17(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after the end of each March, June, September and DecemberCompany, commencing with the first such date to occur fiscal quarter ending after the issuance of such Letter of Credit, Closing Date and on the Letter Termination Date applicable to such Lender; provided, that no Defaulting Lender shall be entitled to receive any commission in respect of Letters of Credit Expiration Date for any period during which that Lender is a Defaulting Lender (and thereafter on demand. If there the Borrower shall not be required to pay such commission to that Defaulting Lender but shall pay such commission as set forth in Section 2.19); provided, further, that the Applicable Margin shall be 2% above the Applicable Margin in effect upon the occurrence and during the continuation of an Event of Default if the Borrower is any change required to pay default interest pursuant to Section 2.07(b). (ii) The Borrower shall pay to each Issuing Bank, for its own account, a fronting fee equal as agreed between the Borrower and each Issuing Bank, and such other commissions, issuance fees, transfer fees and other fees and charges in any Applicable Rate for Revolving Credit Loans during any quarter, connection with the daily maximum amount Issuance or administration of each Letter of Credit as the Borrower and such Issuing Bank shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effectagree.

Appears in 1 contract

Samples: Credit Agreement (Synnex Corp)

Letter of Credit Fees. The Borrower Subject to the provisions of the last sentence of this subsection (h), the Borrowers shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) Share, in Dollars, a Letter of Credit fee in Dollars Fee for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Eurocurrency RateTerm SOFR Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees Fees 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 L/C Issuer pursuant to this Section 2.03 2.04 shall be payable, to the maximum extent permitted by applicable Law, to the other Revolving Lenders in accordance with the upward adjustments in their respective Pro Rata Shares allocable to such Letter of Credit pursuant to Section 2.17(a)(iv2.18(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.07. Such Letter of Credit fees Fees shall be computed on a quarterly monthly basis in arrears. Such Letter of Credit fees Fees accrued through the last day of each month and shall be due and payable in Dollars on the first Business Day after the end day of each March, June, September and Decembermonth, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Eurocurrency RateTerm SOFR Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate for Eurocurrency RateTerm SOFR Loans separately for each period during such quarter that such Applicable Rate was in effect. At all times that the Default Rate shall be applicable to any Loans pursuant to Section 2.09(b), the Letter of Credit Fees payable under this subsection (i) shall accrue and be payable at the Default Rate. (i) Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Borrowers shall pay directly to the L/C Issuer for its own account, in Dollars, a fronting fee with respect to each Letter of Credit issued by the L/C Issuer in the amount of 0.125% times the Dollar Equivalent of the daily maximum amount available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit). Such fronting fees shall be computed on a monthly basis in arrears. Such fronting fee shall accrue through the last day of each month and shall be due and payable on the first day of each month, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.07. In addition, the Borrowers shall pay directly to the L/C Issuer for its own account, in Dollars, the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of the L/C Issuer relating to letters of credit issued by it as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable.

Appears in 1 contract

Samples: Credit Agreement (Mueller Water Products, Inc.)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility Class (in accordance with their Pro Rata Share or other applicable share provided for under this Agreement) a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Percentage applicable to Revolving Credit Loans that are SOFR Borrowings times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 2.02 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 2.17(a)(iv)2.30, with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first last Business Day after the end of each March, June, September and DecemberDecember and on the Maturity Date, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Sublimit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 1 contract

Samples: Credit Agreement (DIEBOLD NIXDORF, Inc)

Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of the each Participating Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) a Letter of Credit fee in Dollars for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate Margin then in effect for Eurodollar Loans or SOFR Loans that are Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees 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 L/C Issuer pursuant to this Section 2.03 2.26 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 Share allocable to such Letter of Credit pursuant to Section 2.17(a)(iv)2.25, with the balance of such fee, if any, payable to the L/C Issuer for its own account. Such Letter of Credit fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after the end 15th day of each Marchof April, JuneJuly, September October and DecemberJanuary, commencing with the first such date to occur after the issuance of such Letter of Credit, on the applicable Letter of Credit Expiration Date and thereafter on demand; provided that if any such day is not a Business Day, payment shall be due on the next succeeding Business Day. If there is any change in any Applicable the applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable the applicable Rate separately for each period during such quarter that such Applicable applicable Rate was in effect.

Appears in 1 contract

Samples: Credit Agreement (Altice USA, Inc.)

Letter of Credit Fees. The Subject to Section 2.03(n), the Borrower shall pay to the Administrative Agent for the account of the each Revolving Credit Lenders for the applicable Revolving Credit Facility (Lender in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) a Letter of Credit fee in Dollars (the “L/C Fee”) for each Letter of Credit issued pursuant to this Agreement equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, any Letter of Credit fees L/C Fees 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 reasonably satisfactory to the applicable L/C Issuer pursuant to this Section 2.03 2.16(b) 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 2.17(a)(iv2.16(a)(iv), with the balance of such fee, if any, payable to the such L/C Issuer for its own account. Such Letter of Credit fees L/C Fees shall be computed on a quarterly basis in arrears. Such Letter of Credit fees L/C Fees shall be due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any the Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Appears in 1 contract

Samples: Credit Agreement (Primedia Inc)

Letter of Credit Fees. The Borrower Company shall pay to the Administrative Agent for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (each Lender in accordance with their its Pro Rata Share or other applicable share provided for under this Agreement) Share, in US Dollars, a Letter of Credit fee in Dollars (the “Letter of Credit Fee”) for each Letter of Credit issued pursuant to this Agreement equal to the Applicable L/C Fee Rate for Revolving Credit Loans times the Dollar Equivalent of the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then determined in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Creditaccordance with Section 1.7); provided, however, provided that any Letter of Credit fees Fees 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 L/C Issuer applicable Issuing Bank pursuant to this Section 2.03 2.5 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 2.17(a)(iv)2.19, with the balance of such fee, if any, payable to the L/C Issuer applicable Issuing Bank for its own account. Such Letter of Credit fees Fees shall be (i) computed on a quarterly basis in arrears. Such Letter of Credit fees shall be arrears and (ii) due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable the L/C Fee Rate for Revolving Credit Loans during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by such Applicable the L/C Fee Rate separately for each period during such quarter that such Applicable L/C Fee Rate was in effect. Notwithstanding anything to the contrary contained herein, upon the request of the Required Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate.

Appears in 1 contract

Samples: Credit Agreement (Pentair Inc)

Letter of Credit Fees. The Borrower shall pay (a) to the Administrative Agent Agent, for the account of the Revolving Credit Lenders for the applicable Revolving Credit Facility (each Lender in accordance with their such Lender’s Pro Rata Share or other applicable share provided for under this Agreement) Share, a letter of credit fee at a per annum rate equal to the Letter of Credit Fee Rate (which rate shall be increased by 2.00% during any period in which interest on the Loans accrues at the Default Rate), and (b) to the LC Issuer, for its own account, a letter of credit fronting fee in Dollars for each Letter of Credit issued pursuant to this Agreement at a per annum rate equal to the Applicable Rate for Revolving Credit Loans times the Dollar Equivalent 0.125% (provided that such letter of the daily maximum amount then available to credit fronting fee shall not be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Creditless than $1,000.00 per annum); provided, however, any Letter of Credit fees 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 L/C LC Issuer pursuant to this Section 2.03 2.19 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 2.17(a)(iv2.19(a)(iv), with the balance of such fee, if any, payable to the L/C LC Issuer for its own account. Such In addition, the Borrower agrees to pay to the LC Issuer (i) a $250.00 documentation fee on the date that any Letter of Credit is issued, renewed, or extended and (ii) any other standard fees shall be computed on a quarterly basis that it may charge in arrears. Such Letter of Credit fees shall be due and payable in Dollars on the first Business Day after the end of each March, June, September and December, commencing connection with the first such date to occur after the issuance of such any Letter of Credit, . The letter of credit fee and the letter of credit fronting fee will be calculated on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in any Applicable Rate for Revolving Credit Loans during any quarter, the daily maximum face amount of each Letter of Credit shall for the term of such Letter of Credit at the above-applicable rates and will be computed due and multiplied by payable on the day of issuance of such Applicable Rate separately for Letter of Credit and, if applicable, each period during such quarter that such Applicable Rate was in effectdate of increase or extension thereof.

Appears in 1 contract

Samples: Loan Agreement (Acacia Research Corp)

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