Common use of Letter of Credit Fronting Fees Clause in Contracts

Letter of Credit Fronting Fees. The Company shall pay to each Issuing Bank a fronting fee with respect to each Letter of Credit issued by such Issuing Bank, which shall accrue at the rate or rates per annum separately agreed upon between the Company and the applicable Issuing Bank on the daily amount of the Letter of Credit Liabilities (excluding any portion thereof attributable to unreimbursed Reimbursement Obligations) during the period from and including the Closing Date to but excluding the later of the date of termination of the Revolving Loan Line Portions and the date on which there ceases to be any Letter of Credit Liabilities with respect to such Issuing Bank, such fronting fees accrued through and including each Monthly Date to be due and payable no later than the date which is ten (10) Business Days after delivery by the Agent to the Company of a monthly invoice therefor; provided that all such fees (under clauses (i) and (ii) above) shall also be payable (to the extent accrued and not yet paid) on the date on which the Revolving Loan Line Portions terminate and any such fees accruing after the date on which the Revolving Loan Line Portions terminate shall be payable upon the expiration of the applicable Letter of Credit or, if earlier, the date on which the Revolving Loan Line Portions terminate. In addition, the Company shall pay to the Agent for account of the applicable Issuing Bank, such Issuing Bank’s standard fees with respect to the amendment or negotiation of any Letter of Credit or processing of drawings thereunder. Any other fees payable to an Issuing Bank pursuant to this paragraph shall be payable within 10 Business Days after demand.”

Letter of Credit Fronting Fees. The Company shall pay to each Issuing Bank a fronting fee with respect to each Letter of Credit issued by such Issuing Bank, which shall accrue at the rate or rates per annum separately agreed upon between the Company and the applicable Issuing Bank on the daily amount of the Letter of Credit Liabilities (excluding any portion thereof attributable to unreimbursed Reimbursement Obligations) during the period from and including the Closing Date to but excluding the later of the date of termination of the Revolving Loan Line Portions Commitments and the date on which there ceases to be any Letter of Credit Liabilities with respect to such Issuing Bank, such fronting fees accrued through and including each Monthly Date to be due and payable no later than the date which is ten (10) Business Days after delivery by the Agent to the Company of a monthly invoice therefor; provided that all such fees (under clauses (i) and (ii) above) shall also be payable (to the extent accrued and not yet paid) on the date on which the Revolving Loan Line Portions Commitments terminate and any such fees accruing after the date on which the Revolving Loan Line Portions Commitments terminate shall be payable upon the expiration of the applicable Letter of Credit or, if earlier, the date on which the Revolving Loan Line Portions Commitments terminate. In addition, the Company shall pay to the Agent for account of the applicable Issuing Bank, such Issuing Bank’s standard fees with respect to the amendment or negotiation of any Letter of Credit or processing of drawings thereunder. Any other fees payable to an Issuing Bank pursuant to this paragraph shall be payable within 10 Business Days after demand.”

Letter of Credit Fronting Fees. The Company shall pay to each Issuing Bank a fronting fee with respect to each Letter of Credit issued by such Issuing Bank, which shall accrue at the rate or rates per annum separately agreed upon between the Company and the applicable Issuing Bank on the daily amount of the Letter of Credit Liabilities (excluding any portion thereof attributable to unreimbursed Reimbursement Obligations) during the period from and including the Closing Date to but excluding the later of the date of termination of the Revolving Loan Line Portions Commitments and the date on which there ceases to be any Letter of Credit Liabilities with respect to such Issuing Bank, such fronting fees accrued through and including each Monthly Quarterly Date to be due and payable no later than on the date which is ten tenth (10) Business Days Day following such Quarterly Date, commencing on the first such date to occur after delivery by the Agent to the Company of a monthly invoice thereforClosing Date; provided that all such fees (under clauses (i) and (ii) above) shall also be payable (to the extent accrued and not yet paid) on the date on which the Revolving Loan Line Portions Commitments terminate and any such fees accruing after the date on which the Revolving Loan Line Portions Commitments terminate shall be payable upon the expiration of the applicable Letter of Credit or, if earlier, the date on which the Revolving Loan Line Portions Commitments terminate. In addition, the Company shall pay to the Agent for account of the applicable Issuing Bank, such Issuing Bank’s standard fees with respect to the amendment or negotiation of any Letter of Credit or processing of drawings thereunder. Any other fees payable to an Issuing Bank pursuant to this paragraph shall be payable within 10 Business Days after demand.”

Letter of Credit Fronting Fees. The Company shall pay to each Issuing Bank a fronting fee with respect to each Letter of Credit issued by such Issuing Bank, which shall accrue at the rate or rates per annum separately agreed upon between the Company and the applicable Issuing Bank on the daily amount of the Letter of Credit Liabilities (excluding any portion thereof attributable to unreimbursed Reimbursement Obligations) during the period from and including the Closing Date to but excluding the later of the date of termination of the Revolving Loan Line Portions and the date on which there ceases to be any Letter of Credit Liabilities with respect to such Issuing Bank, such fronting fees accrued through and including each Monthly Quarterly Date to be due and payable no later than on the date which is ten tenth (10) Business Days Day following such Quarterly Date, commencing on the first such date to occur after delivery by the Agent to the Company of a monthly invoice thereforClosing Date; provided that all such fees (under clauses (i) and (ii) above) shall also be payable (to the extent accrued and not yet paid) on the date on which the Revolving Loan Line Portions terminate and any such fees accruing after the date on which the Revolving Loan Line Portions terminate shall be payable upon the expiration of the applicable Letter of Credit or, if earlier, the date on which the Revolving Loan Line Portions terminate. In addition, the Company shall pay to the Agent for account of the applicable Issuing Bank, such Issuing Bank’s standard fees with respect to the amendment or negotiation of any Letter of Credit or processing of drawings thereunder. Any other fees payable to an Issuing Bank pursuant to this paragraph shall be payable within 10 Business Days after demand.”