The Borrower will pay to the Lender non-refundable Letter of Credit fees quarterly in arrears, for the period from and excluding the date of issuance of same to and including the date of expiration or termination, on the aggregate outstanding face amount of Letters of Credit calculated at the Applicable Rate (as related to LIBOR Loans) on the basis of a 360-day year for the actual number of days elapsed. Borrower also will pay to the Lender its issuance fees and any and all reasonable and customary administrative, issuance, amendment, payment and negotiation charges with respect to Letters of Credit. All such charges shall be deemed earned in full on the date when the same are due and payable hereunder and shall not be subject to rebate or pro-ration upon the termination of this Agreement for any reason.