Facing Fees. On the first day of each Quarter, commencing July 1, 1996 and continuing thereafter until the Facility Amount and Unfunded LC Exposure have both been reduced to zero, and on the Termination Date, the Borrower shall pay to the Agent for the account of the LC Bank a facing fee computed by applying 0.125% per annum to the Unfunded LC Exposure from day to day in the prior Quarter or partial Quarter, as the case may be.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Integrated Health Services Inc), Revolving Credit Agreement (Integrated Health Services Inc)