Letter of Credit Commissions. Subject to [Section 5.15(a)(iii)(B)], the Borrower shall pay to the Administrative Agent, for the account of the applicable Issuing Lender and the L/C Participants, a letter of credit commission with respect to each Letter of Credit in the amount equal to the daily amount available to be drawn under such standby Letters of Credit times the Applicable Margin with respect to Revolving Credit Loans that are LIBOR Rate Loans (determined, in each case, on a per annum basis). Such commission shall be payable quarterly in arrears on the last Business Day of each calendar quarter, on the Revolving Credit Maturity Date and thereafter on demand of the Administrative Agent. The Administrative Agent shall, promptly following its receipt thereof, distribute to the applicable Issuing Lender and the L/C Participants all commissions received pursuant to this Section 3.3 in accordance with their respective Revolving Credit Commitment Percentages.
Letter of Credit Commissions. Subject to [Section 5.15(a)(iii)(B)], the Borrower shall pay to the Administrative Agent, for the account of the applicable Issuing Lender and the L/C Participants, a letter of credit commission with respect to each Letter of Credit in the amount equal to the daily amount available to be drawn under such standby LettersLetter of Credit times the Applicable Margin with respect to Revolving Credit Loans that are LIBOREurocurrency Rate Loans (determined, in each case,(determined on a per annum basis). Such commission shall be payable quarterly in arrears on the last Business Day of each calendar quarter, on the Revolving Credit Maturity Date and thereafter on demand of the Administrative Agent. The Administrative Agent shall, promptly following its receipt thereof, distribute to the applicable Issuing Lender and the L/C Participants all commissions received pursuant to this Section[Section 3.33] in accordance with their respective Revolving Credit Commitment Percentages.
Letter of Credit Commissions. Subject to [Section 5.15(a)(iii)(B)], the Borrower shall pay to the Administrative Agent, for the account of the applicable Issuing Lender and the L/C Participants, a letter of credit commission with respect to each Letter of Credit in the amount equal to the daily amount available to be drawn under such standby LettersLetter of Credit times the Applicable Margin with respect to Revolving Credit Loans that are LIBOREurocurrency Rate Loans (determined, in each case,(determined on a per annum basis). Such commission shall be payable quarterly in arrears onwithin fifteen (15) days after the last Business Dayday of each calendar quarter, on the Revolving Credit Maturity Date and thereafter on demand of the Administrative Agent. The Administrative Agent shall, promptly following its receipt thereof, distribute to the applicable Issuing Lender and the L/C Participants all commissions received pursuant to this Section 3.3 in accordance with their respective Revolving Credit Commitment Percentages.
#Each Specified Borrower for whose account a Letter of Credit Commissions. Subject to [Section 5.15(a)(iii)(B)], the Borroweris issued hereunder shall pay to the Applicable Administrative Agent, for the account of the applicableBanks (including the Issuing Lender and the L/C Participants,Bank) pro rata according to their Revolving Commitment Percentages, a letter of credit commission with respect to each Letter of Credit in the amountCredit, computed at a rate equal to the daily amount available to be drawn under such standby Letters of Credit times thethen Applicable Margin with respect to Revolving Creditfor Committed Rate Eurocurrency Loans that are LIBOR Rate Loans (determined, in each case, on a per annum basis).the daily average undrawn face amount of such Letter of Credit. Such commissioncommissions shall be payable quarterly in arrears on the last Business Day of each calendar quarter,March, June, September and December to occur after the date of issuance of each Letter of Credit and on the Revolvingexpiration date of such Letter of Credit Maturity Date and thereafter on demand of the Administrative Agent. The Administrative Agent shall, promptly following its receipt thereof, distribute to the applicable Issuing Lender and the L/C Participants all commissions received pursuant to this Section 3.3 in accordance with their respective Revolving Credit Commitment Percentages.shall be nonrefundable.
Letter of Credit Commissions. Subject to [Section 5.15(a)(iii)(B)], theFees. The Borrower shall pay to the Administrative Agent,Agent for the account of the applicable Issuingeach Revolving Lender and the L/C Participants,in accordance with its Applicable Revolving Percentage a letterLetter of credit commission with respect toCredit fee (the “Letter of Credit Fee”) for each Letter of Credit inequal to the amount equal toApplicable Rate times the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit. For purposes of computing the daily amount available to be drawn under any standby LettersLetter of Credit, the amount of such Letter of Credit times the Applicable Marginshall be determined in accordance with respect to RevolvingSection 1.06. Letter of Credit Loans that are LIBOR Rate Loans (determined, in each case, on a per annum basis). Such commissionFees shall be payable quarterly in arrears on the lastfirst Business Day following each fiscal quarter end, commencing with the first such date to occur after the issuance of such Letter of Credit and accrued through and including the last day of each calendarfiscal quarter in arrears. If there is any change in the Applicable Rate during any quarter, on the Revolvingdaily amount available to be drawn under each Letter of Credit Maturity Dateshall be computed and thereafter on demandmultiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, upon the request of the Administrative Agent. The Administrative Agent shall, promptly following its receipt thereof, distribute toRequired Revolving Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the applicable Issuing Lender and the L/C Participants all commissions received pursuant to this Section 3.3 in accordance with their respective Revolving Credit Commitment Percentages.Default Rate.
Letter of Credit Commissions. Subject“The applicable Borrower agrees to [Section 5.15(a)(iii)(B)], the Borrower shall pay to the Administrative Agent, for the account of the applicablerelevant Issuing Lender and the L/C Participants, a letter of credit commission with respect to each Letter of Credit inissued by such Issuing Lender, computed for the amountperiod from and including the date of issuance of such Letter of Credit through to the expiration date of such Letter of Credit, computed at a rate per annum equal to the dailyApplicable Margin then in effect for Eurocurrency Loans that are Tranche A Loans calculated on the basis of a 365- (or 366-, as the case may be) day year for the actual days elapsed, of the maximum amount available to be drawn under such standby LettersLetter of Credit timesminus the Applicable MarginL/C Facing Fee, payable with respect to Revolvingeach quarter in arrears on each L/C Fee Payment Date with respect to such Letter of Credit Loans that are LIBOR Rate Loans (determined, in each case,and on a per annum basis).the Maturity Date or such earlier date as the Tranche A Commitments shall terminate as provided herein. Such commission shall be payable quarterly in arrears onto the last Business Day of each calendar quarter, onAdministrative Agent for the Revolving Credit Maturity Date and thereafter on demandaccount of the Administrative Agent. The Administrative Agent shall, promptly following its receipt thereof, distributeLenders to the applicable Issuing Lender and the L/C Participants all commissions received pursuant to this Section 3.3be shared ratably among them in accordance with their respective Revolving CreditTranche A Commitment Percentages. The applicable Borrower shall pay to the Administrative Agent for the account of the relevant Issuing Lender a fee equal to 1/8 of 1% per annum (but in no event less than $500 per annum for each Letter of
Letter of Credit Commissions. Subject to [Section 5.15(a)(iii)(B)], theFees. The Borrower shall pay to the Administrative Agent,Agent for the account of the applicable Issuingeach Lender and the L/C Participants,with a letterRevolving Commitment in accordance, subject to [Section 2.16], with its Applicable Percentage a Letter of credit commission with respect toCredit fee (the “Letter of Credit Fee”) for each Letter of Credit inequal to the amount equal toApplicable Rate times the daily amount available to be drawn under such standby LettersLetter of Credit; provided, however, any Letter of Credit timesFees otherwise payable for the Applicable Marginaccount of a Defaulting Lender with respect to Revolvingany Letter of Credit Loans that are LIBOR Rate Loans (determined, in each case, on a per annum basis). Such commissionas to which such Defaulting Lender has not provided Cash Collateral satisfactory to the L/C Issuer pursuant to this [Section 2.03] shall be payable, to the maximum extent permitted by applicable Law, to the other in accordance with the upward adjustments in their respective Applicable Percentages allocable to such Letter of Credit pursuant to [Section 2.16(a)(iv)], with the balance of such fee, if any, payable quarterlyto the L/C Issuer 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 arrearsaccordance with Section 1.06. Letter of Credit Fees shall be # due and payable on the lastfirst Business Day after the end of each calendar quarter,March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the RevolvingLetter of Credit MaturityExpiration Date and thereafter on demand and # computed on a quarterly basis in arrears. If there is any change in the Applicable Rate during any quarter, the daily amount available to be drawn under each Letter of Credit shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, upon the request of the Administrative Agent. The Administrative Agent shall, promptly following its receipt thereof, distribute toRequired , while any Event of Default exists, all Letter of Credit Fees shall accrue at the applicable Issuing Lender and the L/C Participants all commissions received pursuant to this Section 3.3 in accordance with their respective Revolving Credit Commitment Percentages.Default Rate.
Letter of Credit Commissions. Subject to [Section 5.15(a)(iii)(B)], theFees. The Borrower shall pay to the Administrative Agent,Agent for the account of the applicable Issuingeach Revolving Credit Lender and the L/C Participants,in accordance with its Applicable Revolving Credit Percentage a letterLetter of credit commission with respect toCredit fee (the “Letter of Credit Fee”) for each Letter of Credit inequal to the amount equalApplicable Margin for Loans bearing interest at the rate applicable to the currency of such Letter of Credit times the daily amount available to be drawn under such standby LettersLetter of Credit. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit times the Applicable Margin with respect to Revolving Credit Loans that are LIBOR Rate Loans (determined, in each case, on a per annum basis). Such commission shall be payable quarterlydetermined in arrearsaccordance with Section 1.06. Letter of Credit Fees shall be # due and payable on the lastfirst Business Day after the end of each calendar quarter,March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the RevolvingLetter of Credit MaturityExpiration Date and thereafter on demand and # computed on a quarterly basis in arrears. If there is any change in the Applicable Margin during any quarter, the daily amount available to be drawn under each Letter of Credit shall be computed and multiplied by the Applicable Margin separately for each period during such quarter that such Applicable Margin was in effect. Notwithstanding anything to the contrary contained herein, upon the request of the Administrative Agent. The Administrative Agent shall, promptly following its receipt thereof, distribute toRequired Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the applicable Issuing Lender and the L/C Participants all commissions received pursuant to this Section 3.3 in accordance with their respective Revolving Credit Commitment Percentages.Default Rate.
Letter of Credit Commissions. Subject to [Section 5.15(a)(iii)(B)], the BorrowerFees. The Borrowers shall pay to the Administrative Agent,Agent for the account of the applicable Issuingeach Lender and the L/C Participants,in accordance, subject to [Section 2.16], with its Applicable Percentage a letterLetter of credit commission with respect toCredit fee (the “Letter of Credit Fee”) for each Letter of Credit inequal to the amount equal toApplicable Rate times the daily amount available to be drawn under such standby LettersLetter of Credit. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit timesshall be determined in accordance with [Section 1.06]. Letter of Credit Fees shall be # due and payable on the Applicable Marginfirst (1st) Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Maturity Date with respect to Revolving Credit Loans that are LIBOR Rate Loans (determined, in each case, on a per annum basis). Such commission shall be payable quarterly in arrears on the last Business Day of each calendar quarter, on the Revolving Credit Maturity DateFacility and thereafter on demand and # computed on a quarterly basis in arrears. If there is any change in the Applicable Rate during any quarter, the daily amount available to be drawn under each Letter of Credit shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, upon the request of the Administrative Agent. The Administrative Agent shall, promptly following its receipt thereof, distribute toRequired Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the applicable Issuing Lender and the L/C Participants all commissions received pursuant to this Section 3.3 in accordance with their respective Revolving Credit Commitment Percentages.Default Rate.
Letter of Credit Commissions. Subject to [Section 5.15(a)(iii)(B)], the BorrowerFees. The Borrowers shall pay to the Administrative Agent,Agent for the account of the applicable Issuingeach Lender and the L/C Participants,in accordance, subject to [Section 2.16], with its Applicable Percentage a letterLetter of credit commission with respect toCredit fee (the “Letter of Credit Fee”) for each Letter of Credit inequal to the amount equal toApplicable Rate times the daily amount available to be drawn under such standby LettersLetter of Credit. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit timesshall be determined in accordance with Section 1.06. Letter of Credit Fees shall be # due and payable on the Applicable Marginfirst (1st) Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Maturity Date with respect to Revolving Credit Loans that are LIBOR Rate Loans (determined, in each case, on a per annum basis). Such commission shall be payable quarterly in arrears on the last Business Day of each calendar quarter, on the Revolving Credit Maturity DateFacility and thereafter on demand and # computed on a quarterly basis in arrears. If there is any change in the Applicable Rate during any quarter, the daily amount available to be drawn under each Letter of Credit shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, upon the request of the Administrative Agent. The Administrative Agent shall, promptly following its receipt thereof, distribute toRequired Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the applicable Issuing Lender and the L/C Participants all commissions received pursuant to this Section 3.3 in accordance with their respective Revolving Credit Commitment Percentages.Default Rate.
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.