Common use of Letter of Credit Participation Fee Clause in Contracts

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 Borrower shall pay to Agent, for the ratable benefit of the Lenders having Revolving Loan CommitmentsLenders, 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 a rate per annum equal to three percent (2.503.00%) per annum); providedPROVIDED, howeverHOWEVER, 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 by two percent (4.502.00%) per annumannum over the otherwise applicable rate, such fees to be payable quarterly monthly in arrears on the first day of the calendar quarter month following the date hereof and the first day of each calendar quarter 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.

Letter of Credit Participation Fee. The 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 three and one-half of one percent (2.503.50%) 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 five and one-half of one percent (4.505.50%) per annum, such fees to be payable quarterly monthly in arrears on the first day of the calendar quarter month following the date hereof and the first day of each calendar quarter month thereafter. The Borrower shall also reimburse the Agent for any and all fees and expenses, if any, paid by the Agent Agent, or required to be paid, to the issuer of any Letter of Credit or any letter of credit subject to a Letter of Credit Participation Agreement.

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-one half of one percent (4.50%) % per annum, such fees to be payable quarterly monthly in arrears on the first day of the calendar quarter month following the date hereof and the first day of each calendar quarter month thereafter. The Borrower shall also reimburse the Agent for any and all out-of-pocket 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.