Common use of LC Facility Fees Clause in Contracts

LC Facility Fees. (a) The U.S. Borrowers shall pay to the Agent, for the Pro Rata benefit of the Applicable Lenders, a fee equal to the Applicable Margin in effect for LIBOR Loans times the average daily stated amount of outstanding U.S. Letters of Credit, which fee shall be payable in arrears, on the first day of each Fiscal Quarter; (b) the Canadian Borrower shall pay to the Agent, for the Pro Rata benefit of the Applicable Lenders, a fee equal to the Applicable Margin in effect for LIBOR Loans times the average daily stated amount of outstanding Canadian Letters of Credit denominated in Dollars, which fee shall be payable in arrears, on the first day of each Fiscal Quarter; (c) the Canadian Borrower shall pay to the Agent, for the Pro Rata benefit of the Applicable Lenders, a fee equal to the Applicable Margin in effect for B/A Equivalent Loans times the average daily stated amount of outstanding Canadian Letters of Credit denominated in Canadian Dollars, which fee shall be payable in arrears, on the first day of each Fiscal Quarter; (d) the German Borrowers shall pay to the Agent, for the Pro Rata benefit of the Applicable Lenders, a fee equal to the Applicable Margin in effect for LIBOR Loans times the average daily stated amount of outstanding German Letters of Credit denominated in Dollars, which fee shall be payable in arrears, on the first day of each Fiscal Quarter; (e) the German Borrowers shall pay to the Agent, for the Pro Rata benefit of the Applicable Lenders, a fee equal to the Applicable Margin in effect for LIBOR Loans times the average daily stated amount of outstanding German Letters of Credit denominated in Euros, which fee shall be payable in arrears, on the first day of each Fiscal Quarter; (f) the applicable Borrowers shall pay to the applicable Issuing Bank, for its own account, a fronting fee not in excess of 0.125% per annum of the stated amount of each Letter of Credit, which fee shall be payable in arrears, on the first day of each Fiscal Quarter; and (g) the applicable Borrowers shall pay to the applicable Issuing Bank, for its own account, all customary charges associated with the issuance, registration, amending, negotiating, payment, processing, transfer and administration of Letters of Credit, which charges shall be paid as and when incurred upon demand.

LC Facility Fees. (a) The U.S. Borrowers relevant Borrower shall pay (i) to the Applicable Agent, for the Pro Rata benefit of the Applicable Lenders, a fee equal to the per annum rate of the Applicable Margin in effect for LIBOR Loans Standby Letter of Credit Fees times the average daily stated maximum amount available to be drawn by the Borrower in respect of outstanding U.S. standby Letters of CreditCredit pursuant to the terms of this Agreement, which fee (a “Standby Letter of Credit Fee”) shall be payable quarterly in arrears, on the first day Business Day of each Fiscal Quartercalendar quarter; (bii) the Canadian Borrower shall pay to the Applicable Agent, for the Pro Rata benefit of the Applicable Lenders, a fee equal to the per annum rate of the Applicable Margin in effect for LIBOR Loans Documentary Letter of Credit Fees times the average daily stated maximum amount available to be drawn by the Borrower in respect of outstanding Canadian documentary Letters of Credit denominated in Dollarspursuant to the terms of this Agreement, which fee (a “Documentary Letter of Credit Fee”) shall be payable quarterly in arrears, on the first day Business Day of each Fiscal Quartercalendar quarter; and (ciii) the Canadian Borrower shall pay to the Agent, for the Pro Rata benefit of the Applicable Lenders, a fee equal to the Applicable Margin in effect for B/A Equivalent Loans times the average daily stated amount of outstanding Canadian Letters of Credit denominated in Canadian Dollars, which fee shall be payable in arrears, on the first day of each Fiscal Quarter; (d) the German Borrowers shall pay to the Agent, for the Pro Rata benefit of the Applicable Lenders, a fee equal to the Applicable Margin in effect for LIBOR Loans times the average daily stated amount of outstanding German Letters of Credit denominated in Dollars, which fee shall be payable in arrears, on the first day of each Fiscal Quarter; (e) the German Borrowers shall pay to the Agent, for the Pro Rata benefit of the Applicable Lenders, a fee equal to the Applicable Margin in effect for LIBOR Loans times the average daily stated amount of outstanding German Letters of Credit denominated in Euros, which fee shall be payable in arrears, on the first day of each Fiscal Quarter; (f) the applicable Borrowers shall pay to the applicable Issuing Bank, for its own account, a fronting fee not in excess calculated at a rate of 0.125% per annum on the maximum amount available to be drawn by the Borrowers in respect of Letters of Credit issued by such Issuing Bank pursuant to the stated amount terms of each Letter of Creditthis Agreement, which fee shall be payable quarterly in arrears, on arrears of the first day Business Day of each Fiscal Quarter; calendar quarter and (giv) the applicable Borrowers shall pay to the applicable each Issuing Bank, for its own account, all other customary charges associated with the issuance, registration, amending, negotiating, payment, processing, transfer and administration of Letters of Credit, which charges shall be paid as and when incurred upon demandincurred. At any time after the occurrence and during the continuance of an Event of Default, the fees payable under clauses (i) and (ii) shall accrue interest at the Default Rate. Notwithstanding anything to the contrary set forth herein, any Standby Letter of Credit Fee or Documentary Letter of Credit Fee otherwise payable for the account of a Defaulting Lender with respect to any Letter of Credit as to which such Defaulting Lender has not provided Cash Collateral satisfactory to the Issuing Bank shall be payable, to the maximum extent permitted by Applicable Law, to the other Lenders in accordance with the upward adjustments in their respective Pro Rata shares allocable to such Letter of Credit pursuant to Section 4.2, with the balance of such Standby Letter of Credit Fee or Documentary Letter of Credit Fee, if any, payable to the Issuing Bank for its own account.