Letters of Credit Fees. (i) The Borrower shall pay to the Agent for the ratable account of the L/C Issuers a nonrefundable administration fee (a “Letter of Credit Administration Fee”) for each Letter of Credit issued hereunder and for each amendment to a Letter of Credit that increases the stated amount of such Letter of Credit, such Fee to be equal to 1/10 of 1% (0.10%) of the initial stated amount of such Letter of Credit or the increase in the stated amount of such existing Letter of Credit, as the case may be. The Letter of Credit Administration Fee shall be payable, in the case of the issuance of a Letter of Credit, in advance of or prior to the issuance of such Letter of Credit and, in the case of an amendment of an existing Letter of Credit, in advance of or prior to the amendment of such existing Letter of Credit. In addition, the Borrower shall pay to the Agent for the account of the Lenders, in accordance with the Lenders’ Pro Rata Shares, (x) for each Letter of Credit issued hereunder, a nonrefundable issuance fee (a “Letter of Credit Issuance Fee”) equal to 1.50% per annum of the stated amount of such Letter of Credit, and (y) for any amendment to an existing Letter of Credit that increases the stated amount of such Letter of Credit, a nonrefundable amendment fee (a “Letter of Credit Amendment Fee”) equal to 1.50% per annum of the increase in the stated amount of such Letter of Credit.
(ii) The Borrower shall pay to each L/C Issuer the standard charges from time to time assessed by such L/C Issuer in connection with the issuance, administration, amendment, payment or cancellation of Letters of Credit.
(iii) The Borrower hereby authorizes the Agent to, and the Agent may, from time to time, charge the Loan Account pursuant to Sections 3.01(c) and 4.02 of this Agreement with the amount of any Letter of Credit Fees or other charges due under this Section 3.03.
Letters of Credit Fees. (a) In consideration for the issuance (and any renewal) of each Letter of Credit, the Borrower shall pay to the Administrative Agent for its sole account as issuer, a fee in an amount equal to .50% multiplied by the face amount of each such Letter of Credit. Each fee for a Letter of Credit shall be due and payable in full on the date of issuance of each Letter of Credit, and each renewal of each Letter of Credit.
(b) In consideration for the issuance (and any renewal) of each Letter of Credit, the Borrower shall pay to the Administrative Agent for the account of the Administrative Agent and the Lenders in accordance with their Specified Percentages, a per annum fee in an amount equal to 1.00% multiplied by the face amount of each such Letter of Credit. Each fee for a Letter of Credit shall be due and payable quarterly in arrears on each Quarterly Date until the expiration or termination of such Letter of Credit.
Letters of Credit Fees. At the time a Letter of Credit is issued, the ---------------------- Borrowers agree to pay to the Bank fees for the issuing of Letters of Credit:
A. In a sum equal to the greater of one (1) per cent per annum of the face amount of the Letter of Credit, and an annual fee of $350.00 for each year or part year a Letter of Credit is outstanding.
B. The Borrowers additionally agree to pay promptly upon demand the amount of any customary fees and expenses the Bank charges for amending letters of credit, for honoring drafts and draw requests, and taking similar action in connection with letters of credit.
Letters of Credit Fees. The Borrowers jointly and severally agree to pay (a) to the Agent, for the Pro Rata benefit of the Revolver Lenders, a fee equal to the per annum rate of the Applicable Margin in effect for Term SOFR Loans times the average daily stated amount of the Letters of Credit, which fee shall be payable quarterly in arrears, on the first day of each January, April, July and October for the preceding quarter (commencing with the first such date to occur after the Closing Date), and on the date of termination of any Letter of Credit and on the Revolver Commitment Termination Date; (b) to each Fronting Bank, for its own account, a fronting fee equal to 0.125% per annum on the stated amount of each Letter of Credit issued by it, which fee shall be payable upon the issuance of such Letter of Credit and at the time of each renewal or extension of such Letter of Credit, and also quarterly in arrears, on the first day of each January, April, July and October for the preceding quarter (commencing with the first such date to occur after the Closing Date), and on the date of termination of such Letter of Credit and on the Revolver Commitment Termination Date; and (c) to each Fronting Bank, for its own account, all customary charges associated with the issuance, amending, negotiating, payment, processing, transfer and administration of the Letters of Credit issued by it, which charges shall be paid as and when incurred on demand. All fees payable under this Section 3.2.5 shall be payable in Dollars.
Letters of Credit Fees. L/C Issuer Charges and Charges to the Loan Account.
Letters of Credit Fees. In consideration of the commitments relating to letters of credit hereunder, the Borrower agrees to pay the Bank a fee (collectively the "Letter of Credit Fee") equal to five-eighths of one percent (.625%) per annum on the average daily amount of LOC Obligations for the applicable period plus other customary charges of administration of Letters of Credit. The Letter of Credit Fee shall be payable at issuance in advance.
Letters of Credit Fees. (i) Borrowers shall pay (i) to Funding Agent, for the benefit of Lenders, fees for each Letter of Credit for the period from the date of issuance of same to and including the date of expiration or termination, equal to the rate set forth in the chart set forth in Section 3.1(b) above, such fees to be calculated on the basis of a 360-day year for the actual number of days elapsed and to be payable monthly in arrears on the first day of each month and on the last day of the Term and (ii) to the Issuer, an issuance fee of 1/8th% (which shall not apply to the Existing Letters of Credit) and any and all fees and expenses of the Issuer in connection with the opening, amendment, renewal, replacement or termination of any such Letter of Credit and shall reimburse Funding Agent for any and all fees and expenses, if any, paid by Funding Agent to the Issuer (all of the foregoing fees, the "Letter of Credit Fees"). All such charges shall be deemed earned in full on the date when the same are due and payable hereunder and shall not be subject to rebate or proration upon the termination of this Agreement for any reason. Any such charge in effect at the time of a particular transaction shall be the charge for that transaction, notwithstanding any subsequent change in the Issuer's prevailing charges for that type of transaction. All Letter of Credit Fees payable hereunder shall be deemed earned in full on the date when the same are due and payable hereunder and shall not be subject to rebate or proration upon the termination of this Agreement for any reason. In addition to the Letter of Credit Fees described above, Borrowers shall continue to pay the customary letter of credit fees to PNC Bank in connection with the Existing Letters of Credit.
(ii) On demand after the occurrence and during the continuance of an Event of Default, Borrowers will cause cash to be deposited and maintained in an account with Collateral Agent, as cash collateral, in an amount equal to 105% of the outstanding Letters of Credit, and each Borrower hereby irrevocably authorizes Collateral Agent, in its sole discretion, on such Borrower's behalf and in such Borrower's name, to open such an account and to make and maintain deposits therein, or in an account opened by such Borrower, in the amounts required to be made by such Borrower, out of the proceeds of Receivables or other Collateral or out of any other funds of such Borrower coming into any Lender's possession at any time. Collateral Agent will ...
Letters of Credit Fees. With respect to each Letter of Credit and the drafts thereunder, whether issued for the account of Borrower or any other Credit Party, Borrower agrees to (A) pay to Agent, for the pro rata benefit of the Lenders, a non-refundable commission based upon the face amount of such Letter of Credit, which shall be paid quarterly in arrears, on each Regularly Scheduled Payment Date, at a rate per annum equal to the Applicable Margin for LIBOR Fixed Rate Loans (in effect on the Regularly Scheduled Payment Date) multiplied by the face amount of such Letter of Credit; (B) pay to Agent, for the sole benefit of the Fronting Lender, an additional Letter of Credit fee, which shall be paid on each date that such Letter of Credit shall be issued, amended or renewed at the rate of one-eighth percent (1/8%) of the face amount of such Letter of Credit; and (C) pay to Agent, for the sole benefit of the Fronting Lender, such other issuance, amendment, negotiation, draw, acceptance, telex, courier, postage and similar transactional fees as are customarily charged by the Fronting Lender in respect of the issuance and administration of similar letters of credit under its fee schedule as in effect from time to time.
Letters of Credit Fees. (i) The Subsidiary Borrowers shall ---------------------- jointly and severally pay to the Administrative Agent for the account of the Lenders in accordance with such Lender's Pro Rata Share a nonrefundable fee for each documentary Letter of Credit issued hereunder, which fee shall be payable monthly in arrears on the first day of each month and shall be equal to the product of (A) the Applicable L/C Percentage and (B) the average daily outstanding stated amount of such documentary Letter of Credit during the prior month. In addition, the Subsidiary Borrowers shall jointly and severally pay to the Administrative Agent for the account of the Lenders, in accordance with the Lenders' Pro Rata Shares for each standby Letter of Credit issued hereunder, a nonrefundable fee equal to the Applicable L/C Percentage per annum of the outstanding stated amount of such standby Letter of Credit, payable monthly in arrears on the first day of each month on the average daily outstanding stated amount of such standby Letter of Credit during the prior month.
Letters of Credit Fees. The Borrower shall pay the fees set forth in section 1.1 above with respect to each Letter of Credit at the time of the issuance of each Letter of Credit.
