LC Participation Fee definition

LC Participation Fee shall have the meaning assigned to such term in Section 2.05(c).

LC Participation Fee is defined in Section 2.8.2.

LC Participation Fee shall have the meaning provided in Section 4.01(c).

Examples of LC Participation Fee in a sentence

• Notwithstanding the foregoing, in the case of any Letter of Credit that will expire later than the first anniversary of the issuance, amendment, renewal or extension thereof, the L/C Participation Fee and Issuing Bank Fees shall be increased by an amount to be agreed upon prior to such issuance, amendment, renewal or extension by the applicable Borrower, the applicable Issuing Bank and the Required Lenders.

• If at any time any principal of or interest on any Loan or any fee or other amount payable by the Loan Parties hereunder has not been paid when due, whether at stated maturity, upon acceleration or otherwise, the LC Participation Fee shall be increased to a per annum rate equal to 2% plus the otherwise applicable rate with respect thereto for so long as such overdue amounts have not been paid.

• The Agent shall share with each Bank on a pro rata basis relative to its Commitment Percentage a portion of each payment of a Reimbursement Obligation (whether of principal or interest) and any L/C Participation Fee payable by the Company.

• Following the occurrence and during the continuance of an Event of Default, the LC Participation Fee shall be increased to a per annum rate equal to 2% plus the otherwise applicable rate with respect thereto.

• For purposes of determining the amount of the L/C Participation Fees with respect to any Alternative Currency Letter of Credit, the Standby L/C Exposure shall be determined by the Administrative Agent using the Exchange Rates in effect at approximately 11:00 a.m., New York City time, on the date that is two Business Days before the payment of the L/C Participation Fee.

More Definitions of LC Participation Fee

LC Participation Fee shall have the meaning assigned to such term in Section 3.01(f).

LC Participation Fee has the meaning set forth in Section 2.11(c).

LC Participation Fee shall have the meaning assigned to such term in SECTION 2.05(c).

LC Participation Fee is defined in Section 2.05(c). -------------------- ---------------

LC Participation Fee with respect to its participations in Letters of Credit, which shall accrue at a rate equal to the Applicable Margin from time to time used to determine the interest rate on Eurodollar Loans pursuant to Section 2.06(b) on the daily amount of such Lender’s LC Exposure (excluding any portion thereof attributable to Reimbursement Obligations), during the preceding quarter, and (ii) to each applicable Issuing Bank a fronting fee (“Fronting Fee”), which shall accrue at the rate of 0.125% per annum on the average daily amount of the Letters of Credit (excluding any portion thereof attributable to Reimbursement Obligations) issued by such Issuing Bank and outstanding during the preceding quarter, as well as each applicable Issuing Bank’s customary fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder (“Issuing Bank Fees”). Accrued LC Participation Fees and Fronting Fees shall be payable in arrears (i) on the third Business Day after the last Business Day of March, June, September and December of each year, commencing on the first such date to occur after the Closing Date, and (ii) on the date on which the Revolving Credit Commitments terminate. Any such fees accruing after the date on which the Revolving Credit Commitments terminate shall be payable on demand. Any other fees payable to any Issuing Bank pursuant to this paragraph shall be payable within 10 days after demand therefor. All LC Participation Fees and Fronting Fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).

LC Participation Fee is defined in Section 2.22(d).

LC Participation Fee as defined in Section 2.11(b)(i).