LC Fee. The Borrower agrees to pay the Agent for the account of the Fronting Bank an issuance fee (an “Issuance Fee”) and such other charges as are separately agreed upon with the Fronting Bank, and agrees to pay to the Agent for the account of the Lenders a fee (the “LC Fee”) on the face amount of each Letter of Credit issued by the Fronting Bank calculated at a rate per annum at all times equal to the Applicable Margin in effect for Eurodollar Rate Advances, in each case computed on the basis of the actual number of days that each Letter of Credit is outstanding over a year of 360 days, payable quarterly in arrears on each March 31, June 30, September 30 and December 31, and on the date that such Letter of Credit expires or is drawn in full.
LC Fee. The Principal Borrower shall pay to the Agent for the account of the Working Capital Facility Lenders, pro rata in accordance with the amount of each Working Capital Facility Lender’s Working Capital Commitment, a Letter of Credit issuance fee (the “LC Fee”) for each Letter of Credit issued at the request of the Principal Borrower calculated at a rate per 365 or 366 day period, as applicable, equal to the Applicable Margin multiplied by the daily maximum amount then available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit if such maximum amount increases periodically pursuant to the terms of such Letter of Credit); provided, however, that any LC Fees 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 applicable Fronting Lender pursuant to Section 16.11(d) shall be payable, to the maximum extent permitted by Applicable Law, to the other Working Capital Facility Lenders in accordance with the upward adjustments in their respective Applicable Percentages allocable to such Letter of Credit pursuant to Section 16.11(d), with the balance of such fee, if any, payable to the applicable Fronting Lender for its own account. The LC Fee shall be payable quarterly in arrears on the fifth Banking Day of each Fiscal Quarter following the issuance of the relevant Letter of Credit and upon termination or cancellation of the Total Working Capital Facility Commitment and following receipt of a written notice from the Agent setting out the amount of such fee.
LC Fee. The Borrower agrees to pay (i) to the Administrative Agent for the account of each Lender a participation fee (the "LC Fee") with respect to its participations in Letters of Credit, which shall accrue at a rate per annum equal to the Applicable Margin on the average daily amount of such Lender's LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Closing Date to but excluding the later of the date on which such Lender's Commitment terminates and the date on which such Lender ceases to have any LC Exposure and (ii) to the Issuing Bank for its own account a fronting fee, which shall accrue at the rate or rates per annum separately agreed upon between the Borrower and the Issuing Bank on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Closing Date to but excluding the later of the date of termination of the Commitments and the date on which there ceases to be any LC Exposure, as well as the Issuing Bank's standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Accrued participation fees and fronting fees shall be payable in arrears on the last day of March, June, September and December of each year, commencing on the first such date to occur after the date hereof; provided that all such fees shall be payable on the date on which the Aggregate Commitments terminate and any such fees accruing after the date on which the Aggregate Commitments terminate shall be payable on demand. Any other fees payable to the Issuing Bank pursuant to this paragraph shall be payable within ten days after demand. All 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 Fee. The Borrower agrees to pay to the Administrative Agent for the account of the Participating Lenders for each calendar quarter (or shorter period commencing with the date hereof or ending with the first date on which the LC Commitment shall have expired or been terminated and there shall be no Outstanding Letters of Credit) a fee (the "LC Fee") on the average daily amount of the aggregate Outstanding Letters of Credit issued for the account of the Borrower during such quarter or shorter period at a rate per annum equal to the higher of (i) the weighted average LIBOR Spread applicable to Eurodollar Revolving Loans during such period minus 1/2 of 1% and (ii) 1%. The LC Fee shall be computed on the basis of the actual number of days elapsed over a year of 360 days. The Administrative Agent agrees to disburse to each Participating Lender its pro rata portion of such LC Fee promptly upon receipt. The LC Fee shall be paid in arrears on each March 31, June 30, September 30 and December 31 and on the LC Maturity Date (or the first date on which the LC Commitment shall have expired or been terminated and there shall be no Outstanding Letters of Credit, if earlier). Once paid, the LC Fee shall not be refundable in any circumstances (other than corrections of error in payment).
LC Fee. Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Pro Rata Share a LC fee for such LC equal to the greater of (i) 1.25% per annum times the daily maximum amount available to be drawn under the LC, or (ii) $500. Such fee shall be due and payable, quarterly, in advance, commencing on the date the LC is issued by Issuing Bank and on the same day of each third calendar month thereafter until the LC expiration date.
LC Fee. (a) The Borrowers’ Agent will pay, in respect of each LC, a fee at an annual rate equal to the applicable Margin on the Utilisation Date of the LC, such fee to be payable from the Utilisation Date of that LC on the principal outstanding amount of that LC from time to time.
LC Fee. The Borrower agrees to pay to the Agent for the account of the Participating Lenders for each calendar quarter (or shorter period commencing with March 21, 1997, or ending with the first date on which the LC Commitment shall have expired or been terminated and there shall be no Outstanding Letters of Credit) a fee (the "LC Fee") on the average daily amount of the Outstanding Letters of Credit at a rate per annum equal to the LIBOR Spread in effect for Revolving Loans at the beginning of such period. The LC Fee shall be computed on the basis of the actual number of days elapsed over a year of 360 days. The Agent agrees to disburse to each Participating Lender its pro rata portion of such LC Fee promptly upon receipt. The LC Fee shall be paid in arrears on the last day of March, June, September and December of each year and on 57 51 the Revolving Credit Maturity Date (or the first date on which the LC Commitment shall have expired or been terminated and there shall be no Outstanding Letters of Credit, if earlier), commencing on the first such date following the Closing Date. Once paid, the LC Fee shall not be refundable in any circumstances (other than corrections of error in payment).
LC Fee. The Borrower shall pay to the Administrative Agent, for the account of the Lenders ratably in accordance with their respective Pro Rata Shares, with respect to each Facility LC, a letter of credit fee at a per annum rate equal to the Applicable Margin for Eurodollar Loans in effect from time to time on the average daily undrawn stated amount under such Facility LC, such fee to be payable quarterly in arrears on each Payment Date (such fee described in this sentence, the “LC Fee”). The Borrower shall also pay to the relevant LC Issuer for its own account (x) a fronting fee in respect of each Facility LC issued by such LC Issuer, in an amount, and payable at such times, to be agreed upon between such LC Issuer and the Borrower, and (y) documentary and processing charges in connection with the issuance or Modification of and draws under Facility LCs in accordance with such LC Issuer’s standard schedule for such charges as in effect from time to time.
LC Fee. The Cdn Borrower (in the case of an LC requested under the Cdn Revolving Facility) or the US Borrower (in the case of an LC requested under US Revolving Facility) shall pay to the Administrative Agent in connection with any LC:
LC Fee. Section 1.10(j) of the Credit Agreement is hereby amended and restated in its entirety as follows:
