Letter of Credit Participation Fee. The Borrower agrees to pay to the Administrative Agent for the pro rata account of each Lender a fee (the “
Letter of Credit Participation Fee. The Borrower agrees to pay to the Administrative Agent for the pro rata account of each Lender a fee (the “Letter of Credit Participation Fee”) with respect to the Letters of Credit during the period commencing on the Effective Date and ending on the Commitment Termination Date or, if later, the date when the Letter of Credit Exposure of all Lenders is $0, payable quarterly in arrears on the last day of each March, June, September and December of each year, commencing on the last day of the calendar quarter in which the Effective Date shall have occurred, and on the last date of such period, at a rate per annum equal to (i) in the case of standby Letters of Credit, the Applicable Margin of the average daily aggregate amount which may be drawn under all standby Letters of Credit during such period (whether or not the conditions for drawing thereunder have or may be satisfied) multiplied by such Lender’s Commitment Percentage, and (ii) in the case of commercial Letters of Credit, the Applicable Margin of the average daily aggregate amount which may be drawn under all commercial Letters of Credit during such period (whether or not the conditions for drawing thereunder have or may be satisfied) multiplied by such Lender’s Commitment Percentage. The Letter of Credit Participation Fee shall be computed on the basis of a 360‑day year for the actual number of days elapsed.
Letter of Credit Participation Fee. The Borrower agrees to pay to the Administrative Agent for the pro rata account of each Lender a fee (the “Letter of Credit Participation Fee”) with respect to the Letters of Credit during the period commencing on the Effective Date and ending on the Commitment Termination Date or, if later, the date when the Letter of Credit Exposure of all Lenders is $0, payable quarterly in arrears on the last day of each March, June, September and December of each year, commencing on the last day of the calendar quarter in which the Effective Date shall have occurred, and on the last date of such period, at a rate per annum equal to the Applicable Margin of the average daily aggregate amount which may be drawn under the Letters of Credit during such period (whether or not the conditions for drawing thereunder have or may be satisfied) multiplied by such Lender’s Commitment Percentage. The Letter of Credit Participation Fee shall be computed on the basis of a 360-day year for the actual number of days elapsed.
Letter of Credit Participation Fee. The Borrower agrees to pay to the Agent for the pro-rata account of the Lenders (including the Issuer) a letter of credit participation fee with respect to each Letter of Credit from and including the date of issuance thereof until the date such Letter of Credit is fully drawn, canceled or expired, in an amount equal to the Applicable Letter of Credit Participation Fee Rate on the aggregate amount from time to time available to be drawn on such Letter of Credit, calculated with respect to actual days elapsed on the basis of a 360-day year and payable quarterly in arrears on each Payment Date in each year and upon the expiration, cancellation or utilization in full of such Letter of Credit. During the continuance of a Default, the Required Lenders may, at their option, by notice to the Borrower, declare that the Applicable Letter of Credit Participation Fee Rate shall be increased by 2% per annum; provided, that during the continuance of a Default under Section 8.6 or 8.7, the Applicable Letter of Credit Participation Fee Rate shall be increased by 2% without any election or action on the part of the Agent or any Lender.
Letter of Credit Participation Fee. Borrower shall pay to Agent, for the ratable benefit of the Lenders having Revolving Loan Commitments, fees for each Lender Letter of Credit and each Letter of Credit Participation Agreement (the "Letter of Credit Participation Fee") for the period from and including the date of issuance of same to and excluding the date of expiration or termination, equal to the average daily amount of Letter of Credit Participation Liability multiplied by two and one-half of one percent (2.50%) per annum; provided, however, at the Agent's or the Required Lenders' option, while an Event of Default exists such percent shall be increased to four and one-half of one percent (4.50%) per annum, such fees to be payable quarterly in arrears on the first day of the calendar quarter following the date hereof and the first day of each calendar quarter thereafter. The Borrower shall also reimburse the Agent for any and all fees and expenses, if any, paid by the Agent to the issuer of any letter of credit subject to a Letter of Credit Participation Agreement.
Letter of Credit Participation Fee. The Company agrees to pay to the Agent for the pro rata account of each Lender a fee (the "Letter of Credit Participation Fee") with respect to each Standby Letter of Credit and Commercial Letter of Credit, payable quarterly in arrears during the period commencing on the Effective Date and ending on the Commitment Termination Date on the last day of each March, June, September and December of each year, commencing on the last day of the calendar quarter in which the Effective Date shall have occurred, and ending on the expiration date or the date of termination of such Letter of Credit, at a rate per annum equal to the Applicable Margin of the average daily amount which may be drawn under such Letter of Credit during such period (whether or not the conditions for drawing thereunder have or may be satisfied) multiplied by such Lender's Commitment Percentage. The Letter of Credit Participation Fee shall be computed on the basis of a 360-day year for the actual number of days elapsed.
Letter of Credit Participation Fee. Borrower shall pay to Agent, for the ratable benefit of the Lenders having Revolving Loan Commitments, fees for each Lender Letter of Credit and each Letter of Credit Participation Agreement (the “Letter of Credit Participation Fee”) for the period from and including the date of issuance of same to and excluding the date of expiration or termination, equal to the average daily amount of Letter of Credit Participation Liability multiplied by the Applicable Margin then in effect for Revolving Loans outstanding as LIBOR Loans; provided, however, at the Agent’s or the Required Lenders’ option, while an Event of Default under subsections 4.1, 4.2(b), 7.1(a) or, as a result of the Borrower’s failure to observe any of the covenants contained in Article VI hereof, 7.1(c), exists (or automatically while any Event of Default under subsections 7.1(f), 7.1(g) or 7.1(m)(iv) exists), such percent shall be increased by two percent (2.0%) per annum. The Letter of Credit Participation Fee is payable monthly in arrears on the first day of the month following the date hereof and the first day of each month thereafter. Borrower shall also reimburse Agent for any and all fees and expenses, if any, paid by Agent to the issuer of any letter of credit subject to a Letter of Credit
Letter of Credit Participation Fee. Borrower shall pay to Agent, for the ratable benefit of the Lenders having Revolving Loan Commitments, fees for each Lender Letter of Credit and each Letter of Credit Participation Agreement (the "Letter of Credit Participation Fee") for the period from and including the date of issuance of same to and excluding the date of expiration or termination, equal to the daily average face amount of Letter of Credit Participation Liability multiplied by three percent (3.00%) per annum (or, after the GTCR Event has occurred, three and one-quarter percent (3.25%) per annum); provided, however, at Agent's or Requisite Lenders' option, while an Event of Default exists, such percent shall be increased to five percent (5.00%) per annum (or, after the GTCR Event has occurred, five and one-quarter percent (5.25%) per annum), such fees to be payable monthly in advance on the Restatement Effective Date and the first day of each month thereafter. Borrower shall also reimburse Agent for any and all out-of-pocket fees and expenses, if any, paid by Agent to the issuer of the letter of credit guarantied.
Letter of Credit Participation Fee. Borrower shall pay to Agent, for the ratable benefit of the Lenders having Revolving Loan Commitments, fees for each Lender Letter of Credit and each Letter of Credit Participation Agreement (the "Letter of Credit Participation Fee") for the period from and including the date of issuance of same to and excluding the date of expiration or termination, equal to the average daily amount of Letter of Credit Participation Liability multiplied by a rate per annum equal to the Applicable Margin then in effect for Revolving Loans that are LIBOR Rate Loans; provided, however, at Agent's or Required Lenders' option, while an Event of Default exists such Applicable Margin shall be increased by two percent (2.00%) per annum, such fees to be payable monthly in arrears on the first day of the month following the date hereof and the first day of each month thereafter. Borrower shall also reimburse Agent for, or pay, any and all fees and expenses, if any, paid by Agent, or required to be paid, to the issuer (including the Issuing Lender) of any Lender Letter of Credit or any letter of credit subject to a Letter of Credit Participation Agreement.
Letter of Credit Participation Fee. The Borrower shall pay to Agent, for the ratable benefit of the Lenders, fees for each Lender Letter of Credit and each Letter of Credit Participation Agreement (the “Letter of Credit Participation Fee”) for the period from and including the date of issuance of same to and excluding the date of expiration or termination, equal to the average daily amount of Letter of Credit Participation Liability multiplied by a rate per annum equal to three percent (3.00%); provided, however, at the Agent’s or Required Lenders’ option, while an Event of Default exists such percent shall be increased by two percent (2.00%) per annum over the otherwise applicable rate, such fees to be payable monthly in arrears on the first day of the month following the date hereof and the first day of each month thereafter. The Borrower shall also reimburse the Agent for any and all fees and expenses, if any, paid by the Agent to the issuer of any letter of credit subject to a Letter of Credit Participation Agreement.
