Common use of Facility Letter of Credit Fee Clause in Contracts

Facility Letter of Credit Fee. The Borrower agrees to pay (i) to the Agent, for the account of each Bank, in the case of each Letter of Credit issued as, or converted to (for transactions which convert Letters of Credit in existence on the Closing Date to Facility Letters of Credit pursuant to Section 3.11), a Facility Letter of Credit, a facility letter of credit fee (the “Facility Letter of Credit Fee”) payable quarterly in arrears equal to the Applicable Margin applicable to Eurodollar Rate Loans on the average amount available to be drawn under such Letter of Credit during the quarter then ending multiplied by the actual number of days during such quarter on which such Letter of Credit was outstanding, divided by 360 but no less than $500 per Facility Letter of Credit per year and (ii) to the Issuing Bank a fronting fee, which shall accrue at the rate of 0.125% per annum on the average amount available to be drawn under such Letter of Credit during the quarter then ending multiplied by the actual number of days during such quarter on which such Letter of Credit was outstanding, divided by 360 during the period from and including the Closing Date to but excluding the later of the date of the termination of the Commitments and the date on which there ceases to be any Letters of Credit outstanding. The Borrower shall also pay to the Agent in the event of any extension or modification of a Facility Letter of Credit which extends the expiration date or increases the maximum amount available for drawing thereunder an additional fee calculated and payable on the same basis as that set forth in the first sentence of this Section 3.09(a) with respect to any such extension or additional amount. Whenever the Issuing Bank receives a payment from the Borrower with respect to any fees incurred in connection with any Facility Letter of Credit, the Issuing Bank shall promptly remit to the Agent, and the Agent shall promptly remit to each Bank which has funded its participation in such Facility Letter of Credit, in Dollars and in same day funds, an amount equal to such Bank’s Pro Rata Percentage of such fees.

Facility Letter of Credit Fee. The Borrower agrees to pay (i) to the Agent, for the account of each Bank, in the case of each Letter of Credit issued as, or converted to (for transactions which convert Letters of Credit in existence on the Closing Date to Facility Letters of Credit pursuant to Section 3.113.10), a Facility Letter of Credit, a facility letter of credit fee (the “Facility Letter of Credit Fee”) payable quarterly in arrears equal to the Applicable Margin applicable to Eurodollar Rate Loans on Facility Letter of Credit Fee Percentage of the average amount available to be drawn under such Letter of Credit during the quarter then ending multiplied by the actual number of days during such quarter on which such Letter of Credit was outstanding, divided by 360 but no less than $500 500.00 per Facility Letter of Credit per year and (ii) to the Issuing Bank a fronting fee, which shall accrue at the rate of 0.125% per annum on the average amount available to be drawn under such Letter of Credit during the quarter then ending multiplied by the actual number of days during such quarter on which such Letter of Credit was outstanding, divided by 360 during the period from and including the Closing Date to but excluding the later of the date of the termination of the Commitments and the date on which there ceases to be any Letters of Credit outstandingyear. The Borrower shall also pay to the Agent in the event of any extension or modification of a Facility Letter of Credit which extends the expiration date or increases the maximum amount available for drawing thereunder an additional fee calculated and payable on the same basis as that set forth in the first sentence of this Section 3.09(a3.9(a) with respect to any such extension or additional amount. Whenever the an Issuing Bank receives a payment from the Borrower with respect to any fees incurred in connection with any Facility Letter of CreditCredit issued by such Issuing Bank, the such Issuing Bank shall promptly remit to the Agent, and the Agent shall promptly remit to each Bank which has funded its participation in such Facility Letter of Credit, in Dollars and in same day funds, an amount equal to such Bank’s 's Pro Rata Percentage of such fees.

Facility Letter of Credit Fee. The Borrower agrees to pay (i) to the Agent, for the account of each Bank, in the case of each Letter of Credit issued as, or converted to (for transactions which convert Letters of Credit in existence on the Closing Date to Facility Letters of Credit pursuant to Section 3.113.10), a Facility Letter of Credit, a facility letter of credit fee (the “"Facility Letter of Credit Fee”") payable quarterly in arrears equal to the Applicable Margin applicable to Eurodollar Rate Loans on Facility Letter of Credit Fee Percentage of the average amount available to be drawn under such Letter of Credit during the quarter then ending multiplied by the actual number of days during such quarter on which such Letter of Credit was outstanding, divided by 360 but no less than $500 500.00 per Facility Letter of Credit per year and (ii) to the Issuing Bank a fronting fee, which shall accrue at the rate of 0.125% per annum on the average amount available to be drawn under such Letter of Credit during the quarter then ending multiplied by the actual number of days during such quarter on which such Letter of Credit was outstanding, divided by 360 during the period from and including the Closing Date to but excluding the later of the date of the termination of the Commitments and the date on which there ceases to be any Letters of Credit outstandingyear. The Borrower shall also pay to the Agent in the event of any extension or modification of a Facility Letter of Credit which extends the expiration date or increases the maximum amount available for drawing thereunder an additional fee calculated and payable on the same basis as that set forth in the first sentence of this Section 3.09(a3.9(a) with respect to any such extension or additional amount. Whenever the an Issuing Bank receives a payment from the Borrower with respect to any fees incurred in connection with any Facility Letter of CreditCredit issued by such Issuing Bank, the such Issuing Bank shall promptly remit to the Agent, and the Agent shall promptly remit to each Bank which has funded its participation in such Facility Letter of Credit, in Dollars and in same day funds, an amount equal to such Bank’s 's Pro Rata Percentage of such fees.

Facility Letter of Credit Fee. The Borrower agrees to pay (i) to the Agent, for the account of each BankBank quarterly, in the case of each a Letter of Credit issued as, or converted to (for transactions which convert Letters of Credit in existence on the Closing Date to Facility Letters of Credit pursuant to Section 3.11), as a Facility Letter of Credit, a facility letter of credit fee (the “"Facility Letter of Credit Fee”") payable quarterly (i) as to Facility Letters of Credit which expire on the last day of the quarter or later, in arrears equal the amount of one-quarter of one percent (1/4%) of the aggregate face amount of any such Facility Letters of Credit; and (ii) as to Facility Letters of Credit which expire prior to the Applicable Margin applicable to Eurodollar Rate Loans on last day of the average quarter, in the amount available to be drawn under of one-quarter of one percent (1/4%) of the face amount of each such Facility Letter of Credit during the quarter then ending multiplied by a fraction, the numerator of which is the actual number of days during in such quarter on which prior to expiration of such Letter of Credit was outstanding, divided by 360 but no less than $500 per Facility Letter of Credit per year and (ii) to the Issuing Bank a fronting fee, denominator of which shall accrue at the rate of 0.125% per annum on the average amount available to be drawn under such Letter of Credit during the quarter then ending multiplied by is the actual number of days during such quarter on which such in the quarter; provided, however, notwithstanding the foregoing, as to each Facility Letter of Credit was outstandingwith an outstanding face amount less than an amount that would generate at least a $300.00 per annum Facility Letter of Credit Fee, divided by 360 during a minimum Facility Letter of Credit Fee in the period from and including amount of $300.00 shall be payable in advance on the Closing Date to but excluding the later day of the date issuance of the termination such Facility Letter of the Commitments Credit, and the date on which there ceases to be any Letters no additional Facility Letter of Credit outstandingFee on any such Facility Letter of Credit shall be required for the three subsequent quarters. The Borrower shall also pay to the Agent Bank in the event of any extension or modification of a Facility Letter of Credit which extends the expiration date or increases the maximum amount available for drawing thereunder an additional fee calculated and payable on the same basis as that set forth in the first sentence of this Section 3.09(a) with respect to any such extension or additional amount. Whenever the Issuing Bank receives a payment from the Borrower with respect to any fees incurred in connection with any Facility Letter of Credit, the Issuing Bank shall promptly remit to the Agent, and the Agent shall promptly remit to each Bank which has funded its participation in such Facility Letter of Credit, in Dollars and in same day funds, an amount equal to such Bank’s Pro Rata Percentage of such fees.