Common use of Letter of Credit Issuance Fee Clause in Contracts

Letter of Credit Issuance Fee. In consideration of the issuance of Letters of Credit hereunder, the Borrowers jointly and severally promise to pay to the Administrative Agent for the ratable benefit of the Revolving Lenders in accordance with such Lender’s Revolving Commitment Percentage a fee (the “Letter of Credit Fee”) in an amount equal to the Applicable Percentage for the Letter of Credit Fee times the actual daily maximum amount available to be drawn under each Letter of Credit computed at a per annum rate for each day from the date of issuance to the date of expiration; provided, however, any Letter of Credit 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 Issuing Lender pursuant to Section 2.4 shall be payable, to the maximum extent permitted by applicable Law, to the other Lenders in accordance with the upward adjustments in their respective Revolving Commitment Percentages allocable to such Letter of Credit pursuant to Section 3.17(a)(iv), with the balance of such fee, if any, payable to the Issuing Lender for its own account. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.4. The Letter of Credit Fee will be payable quarterly in arrears on the last Business Day of each March, June, September and December, beginning with the first such date to occur after the Effective Date. Notwithstanding anything to the contrary contained herein, upon the request of the Required Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate.

Letter of Credit Issuance Fee. In consideration of the issuance of Letters of Credit hereunder, the Borrowers jointly and severally promise to pay to the Administrative Agent for the ratable benefit of the Revolving Lenders in accordance with such Lender’s Revolving Commitment Percentage a fee (the “Letter of Credit Fee”) in an amount equal to (i) with respect to each commercial Letter of Credit, the Applicable Percentage for the Letter of Credit Fee times the daily amount available to be drawn under such Letter of Credit and (ii) with respect to each standby Letter of Credit, the Applicable Percentage for the Letter of Credit Fee times the actual daily maximum amount available to be drawn under each standby Letter of Credit computed at a per annum rate for each day from the date of issuance to the date of expiration; provided, however, any Letter of Credit 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 Issuing Lender pursuant to Section 2.4 shall be payable, to the maximum extent permitted by applicable Law, to the other Lenders in accordance with the upward adjustments in their respective Revolving Commitment Percentages allocable to such Letter of Credit pursuant to Section 3.17(a)(iv3.18(a)(iv), with the balance of such fee, if any, payable to the Issuing Lender for its own account. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.4. The Letter of Credit Fee will be payable quarterly in arrears on the last Business Day 15th day of each MarchJanuary, JuneApril, September July and DecemberOctober for the immediately preceding fiscal quarter (or a portion thereof), beginning commencing with the first such date to occur after the Effective Closing Date. Notwithstanding anything to the contrary contained herein, upon the request of the Required Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate.

Letter of Credit Issuance Fee. In consideration of the issuance of Letters of Credit hereunder, the Borrowers jointly and severally promise to pay to the Administrative Agent for the ratable benefit of the Revolving Lenders in accordance with such Lender’s Revolving Commitment Percentage a fee (the “Letter of Credit Fee”) in an amount equal to the Applicable Percentage for the Letter of Credit Fee times on the actual daily maximum amount available to be drawn under each Letter of Credit computed at a per annum rate for each day from the date of issuance to the date of expirationexpiration equal to the Applicable Percentage for the Letter of Credit Fee; provided, however, any Letter of Credit 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 Issuing Lender pursuant to Section 2.4 shall be payable, to the maximum extent permitted by applicable Law, to the other Lenders in accordance with the upward adjustments in their respective Revolving Commitment Percentages allocable to such Letter of Credit pursuant to Section 3.17(a)(iv3.18(a)(iv), with the balance of such fee, if any, payable to the Issuing Lender for its own account. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.4. The Letter of Credit Fee will be payable quarterly in arrears on the last Business Day 15th day of each MarchJanuary, JuneApril, September July and December, beginning with October for the first such date to occur after the Effective Dateimmediately preceding fiscal quarter (or a portion thereof). Notwithstanding anything to the contrary contained herein, upon the request of the Required Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate.

Letter of Credit Issuance Fee. In consideration of the issuance of Letters of Credit hereunder, the Borrowers jointly and severally promise to pay to the Administrative Agent for the ratable benefit of the Revolving Lenders in accordance with such Lender’s Revolving Commitment Percentage a fee (the “Letter of Credit Fee”) in an amount equal to (i) with respect to each commercial Letter of Credit, the Applicable Percentage for the Letter of Credit Fee times the daily amount available to be drawn under such Letter of Credit and (ii) with respect to each standby Letter of Credit, the Applicable Percentage for the Letter of Credit Fee times the actual daily maximum amount available to be drawn under each standby Letter of Credit computed at a per annum rate for each day from the date of issuance to the date of expiration; provided, however, any Letter of Credit 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 Issuing Lender pursuant to Section 2.4 shall be payable, to the maximum extent permitted by applicable Law, to the other Lenders in accordance with the upward adjustments in their respective Revolving Commitment Percentages allocable to such Letter of Credit pursuant to Section 3.17(a)(iv3.18(a)(iv), with the balance of such fee, if any, payable to the Issuing Lender for its own account. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.4. The Letter of Credit Fee will be payable quarterly in arrears on the last Business Day of each March, June, September and December, beginning with the first such date to occur after the Effective Date. Notwithstanding anything to the contrary contained herein, upon the request of the Required Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate.

Letter of Credit Issuance Fee. In consideration of the issuance of Letters of Credit hereunder, the Borrowers jointly and severally promise to pay to the Administrative Agent for the ratable benefit of the Revolving Lenders in accordance with such Lender’s Revolving Commitment Percentage a fee (the “Letter of Credit Fee”) in an amount equal to on the Applicable Percentage for the Letter of Credit Fee times the actual average daily maximum amount available to be drawn under each Letter of Credit computed at a per annum rate for each day from the date of issuance to the date of expirationexpiration equal to the Applicable Percentage for the Letter of Credit Fee; provided, however, provided that (i) no Letter of Credit fees shall accrue in favor of a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (ii) any Letter of Credit Fees otherwise payable for the account fee accrued in favor of a Defaulting Lender with respect during the period prior to any Letter of Credit as to which the time such Lender became a Defaulting Lender has and unpaid at such time shall not provided Cash Collateral satisfactory to be payable by the Issuing Borrowers so long as such Lender pursuant to Section 2.4 shall be payable, to the maximum extent permitted by applicable Law, to the other Lenders in accordance with the upward adjustments in their respective Revolving Commitment Percentages allocable to such Letter of Credit pursuant to Section 3.17(a)(iv), with the balance of such fee, if any, payable to the Issuing Lender for its own account. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.4a Defaulting Lender. The Letter of Credit Fee will be payable quarterly in arrears on the last Business Day 15th day of each MarchJanuary, JuneApril, September July and December, beginning with October for the first such date to occur after the Effective Dateimmediately preceding fiscal quarter (or a portion thereof). Notwithstanding anything to the contrary contained herein, upon the request of the Required Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate.

Letter of Credit Issuance Fee. In consideration of the issuance of Letters of Credit hereunder, the Borrowers jointly and severally promise Borrower promises to pay to the Administrative Agent for the ratable benefit account of the each Revolving Lenders in accordance with such Lender’s Revolving Commitment Percentage Lender a fee (the “Letter of Credit Fee”) in an amount equal to on such Lender’s Revolving Commitment Percentage of the Applicable Percentage for the Letter of Credit Fee times the actual average daily maximum amount available to be drawn under each such Letter of Credit computed at a per annum rate for each day from the date of issuance to the date of expirationexpiration equal to the Applicable Percentage; provided, however, any Letter of Credit 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 Issuing Lender pursuant to Section 2.4 2.2 shall be payable, to the maximum extent permitted by applicable Law, to the other Revolving Lenders in accordance with the upward adjustments in their respective Revolving Commitment Percentages allocable to such Letter of Credit pursuant to Section 3.17(a)(iv3.19(a)(iv), with the balance of such fee, if any, payable to the applicable Issuing Lender for its own account. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.4. The Letter of Credit Fee will be payable quarterly in arrears (x) on the last first Business Day following the last day of each March, June, September and DecemberDecember for the immediately preceding quarter (or a portion thereof), beginning commencing with the first such date to occur after the issuance of such Letter of Credit, provided that, notwithstanding the foregoing, the first such payment date after the First Amendment Effective Date. Notwithstanding anything to Date shall be the contrary contained hereinfirst business day following September 30, upon 2012, and (y) on the request of the Required Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default RateExpiration Date and thereafter on demand.