Standby Letter of Credit Fee Clause Samples

Standby Letter of Credit Fee. Borrower shall pay to Administrative Agent for the account of Letter of Credit Issuer and each other Lender, a non-refundable recurring Standby Letter of Credit Fee for each standby Letter of Credit issued by Letter of Credit Issuer. The Standby Letter of Credit Fee for any standby Letter of Credit shall be an amount equal to the greater of (i) $300 and (ii) an annual amount determined by applying the quarterly equivalent of the then applicable Eurodollar Increment to the aggregate undrawn amount of such standby Letter of Credit. The Standby Letter of Credit Fee for each standby Letter of Credit shall be payable quarterly in arrears, commencing on the first day of the first calendar quarter beginning after the Effective Date and continuing on the first day of each calendar quarter thereafter until the earlier of its expiration or the Revolving Loan Maturity Date. The Standby Letter of Credit Fee will be distributed by Administrative Agent to Lenders with Revolving Loan Commitments in accordance with their pro rata shares of the Aggregate Revolving Loan Commitment.

Standby Letter of Credit Fee. Borrowers agree to pay to Agent, for the pro rata account of each Lender, a Standby Letter of Credit fee at a rate equal to the then Applicable Margin on a per annum basis for Standby Letters of Credit on the daily outstanding balance of all Standby Letters of Credit for the immediately preceding month (or part thereof), and upon the occurrence and during the continuance of an Event of Default, if demanded by Agent (or automatically in the case of the occurrence of an event described in Section 8.1.10 hereof), at a rate equal to the sum of the then Applicable Margin for Standby Letters of Credit plus two (2%) percent per annum on the daily outstanding balance of all Standby Letters of Credit for the immediately preceding month (or part thereof), such fees being payable in arrears on each Payment Date following the date of issuance of each such Standby Letter of Credit and on the Commitment Termination Date. Borrowers further agree to pay to the applicable Issuer in arrears on each Payment Date following the date of issuance of each Standby Letter of Credit and on the Commitment Termination Date, a Fronting Fee for all outstanding Standby Letters of Credit, together with the Issuer’s customary administrative, amendment, drawing, transfer and other fees incurred with respect to such Standby Letters of Credit.

Standby Letter of Credit Fee. In consideration of the LOC Commitment hereunder, the Borrower agrees to pay to the Administrative Agent for the ratable benefit of the Lenders a fee (the "Standby Letter of Credit Fee") equal to the Applicable Percentage per annum on the average daily maximum amount available to be drawn under standby Letters of Credit from the date of issuance to the date of expiration. The Standby Letter of Credit Fee shall be payable quarterly in arrears on each Payment Date for the calendar quarter (or portion thereof) then ending, beginning with the first such date to occur after the Closing Date.

Standby Letter of Credit Fee. On each Quarterly Payment Date and on the Maturity Date (or on any earlier date upon which the Combined Commitments are terminated in accordance with the terms of this Agreement), Borrower shall pay to Administrative Agent in arrears, for the account of each Lender in accordance with its Pro Rata Share, a Letter of Credit fee equal to the Applicable Amount for Letters of Credit times the actual daily maximum amount available to be drawn under each standby Letter of Credit since the previous Quarterly Payment Date.

Standby Letter of Credit Fee. Section 5.2 is amended by replacing the phrase "Eurodollar Increment" as it appears in such Section to the phrase "then applicable Eurodollar Increment".

Standby Letter of Credit Fee. On each Quarterly Payment Date and on the Letter of Credit Expiration Date, Borrower shall pay to Administrative Agent in arrears, for the account of each Lender in accordance with its Pro Rata Share, a Letter of Credit fee equal to the Applicable Amount for Letters of Credit times the actual daily maximum amount available to be drawn under each standby Letter of Credit since the later of the Closing Date and the previous Quarterly Payment Date.” C. Subsection 2.05(c) of the Credit Agreement is hereby amended by deleting such subsection in its entirety and substituting the following therefor:

Standby Letter of Credit Fee. Borrower shall pay to Bank quarterly in advance a non-refundable fee for each Standby Letter of Credit equal to three-eighths percent (0.375%) per annum of the face amount thereof, which fee shall be due and payable quarterly in advance.

Standby Letter of Credit Fee. The Borrowers agree to pay to the Administrative Agent, for the pro rata account of each Lender, a Standby Letter of Credit fee in an amount equal to 100% of the then effective Applicable Margin for Revolving Loans maintained as LIBO Rate Loans, multiplied by the Average Stated Amount for all Standby Letters of Credit, such fees being payable in arrears on each Payment Date following the date of issuance of each such Standby Letter of Credit and on the Commitment Termination Date. The Borrowers further agree to pay to the applicable Issuer in arrears on each Payment Date following the date of issuance of each Standby Letter of Credit and on the Commitment Termination Date, a Fronting Fee for all outstanding Standby Letters of Credit, together with the Issuer's customary administrative, amendment, drawing, transfer and other fees incurred with respect to such Standby Letters of Credit.

Standby Letter of Credit Fee. In consideration of the issuance of standby Letters of Credit hereunder, the Borrower agrees to pay to the Issuing Lender for the pro rata benefit of each Lender (based on each Lender's Revolving Loan Commitment Percentage of the Revolving Committed Amount), a per annum fee (the "Standby Letter of Credit Fees") equal to the Applicable Percentage for the Standby Letter of Credit Fees on the average daily maximum amount available to be drawn under each such Letter of Credit from the date of issuance to the date of expiration. The Standby Letter of Credit Fees will