(a) The Borrower will pay a fee on each outstanding Letter of Credit, at a per annum rate equal to the Applicable Margin then in effect with respect to Eurodollar Loans under the Revolving Facility on the face amount of such Letter of Credit, which fees shall be shared ratably among the Revolving Lenders and payable quarterly in arrears on each Fee Payment Date after the issuance date. In addition, the Borrower shall pay to each Issuing Lender for its own account a fronting fee equal to 0.125% on the aggregate face amount of all outstanding Letters of Credit issued by it to such Borrower (but in no event less than $500 per annum for each such Letter of Credit), payable quarterly in arrears on each Fee Payment Date after the issuance date.