L/C Fee Rate definition

L/C Fee Rate means the rates set forth in Schedule 1 hereto beside the then applicable Level.

L/C Fee Rate with respect to each Letter of Credit at any date, the applicable percentage per annum set forth below based upon the Status on such date: Level I Level II Level III Level IV Level V Level VI Status Status Status Status Status Status ------ ------ ------ ------ ------ ------ 0.45% 0.50% 0.60% 0.70% 0.90% 1.20%

L/C Fee Rate see the definition of Applicable Margin.

Examples of L/C Fee Rate in a sentence

• The L/C Fee Rate for each calendar quarter shall be determined as provided in Schedule I based on the Rating Level in effect on each applicable day of such quarter.

• The Borrower shall pay the Bank a letter of credit fee at a rate per annum equal to the LC Fee Rate on the average daily undrawn amount of each Letter of Credit.

• The Borrower shall pay to the Agent, for the account of the Lenders ratably in accordance with their respective Pro Rata Shares, a per annum letter of credit fee equal to the Applicable LC Fee Rate multiplied by the average daily undrawn stated amounts under the Facility LCs, such fee to be payable in arrears quarterly on the last Business Day of each March, June, September and December, and on the Termination Date (each such fee described in this sentence an “LC Fee”).

• The Borrower shall pay to the Administrative Agent, for the account of the Lenders ratably in proportion to their Commitment Percentages, a letter of credit fee for each day at the LC Fee Rate for such day on the aggregate amount available for drawing (whether or not conditions for drawing have been satisfied) under all Letters of Credit outstanding at the close of business on such day.

• Each Borrower shall pay to the Agent, for the account of the Lenders ratably in accordance with their respective Pro Rata Shares, with respect to each Letter of Credit issued for the account of such Borrower, a letter of credit fee at a per annum rate equal to the LC Fee Rate in effect from time to time on the amount available under such Letter of Credit, such fee to be payable in arrears on each Payment Date.

More Definitions of L/C Fee Rate

L/C Fee Rate means a rate per annum determined in accordance with Schedule 1.01.

L/C Fee Rate means the Applicable Margin with respect to LIBOR Rate Loans.

L/C Fee Rate means 2.50% per annum.

L/C Fee Rate means 3.00% per annum.

L/C Fee Rate means a rate of interest equal to two and one half percent (2.50%) per annum.

L/C Fee Rate means a per annum rate equal to the Applicable Margin in effect from time to time for Revolving Loans which are LIBOR Loans.

L/C Fee Rate means 500 basis points; provided that upon the full cash collateralization of all outstanding Letters of Credit, the L/C Fee Rate shall mean 50 basis points.