Common use of LC Fee Clause in Contracts

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.