Route based on physical NIC load and CISCO 3850

Example is for configuring port 49 and 50 as Etherchannel (Cisco  term) as L3 and L2.
Interfaces need to have the same configuration for most of configuration details.
After port channel in configured use Port-channel interface to configure details of etherchannel to  make sure that configuration on all ports are consistent.

L3 etherchannel:

en
conf t
! optional - in the case that you need to change load balance method for better load balancing across the interfaces
!  port-channel load-balance  src-dst-ip
! or for combining few methods
! port-channel load-balance extended dst-ip dst-mac src-ip
!
! clear interface configuration (if possible 
! default interface range gi1/0/49 - 50
!
interface range gi1/0/49 - 50
 no swithcport
 no ip address
 channel-group 1 mode active
!
interface po1
 ip address 10.10.10.1 255.255.255.0

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L2 etherchannel:

en
conf t
! default interface range gi1/0/49 - 50
!
interface range gi1/0/49 - 50
interface mode {trunk|access}
! if access port
! switchport access vlan X
channel-group 1 mode active
!
interface po1
! configure details of etherchannel (e.g portfast etc)

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Thank you for the information. When we configure VMware distributed switch's port group for "Route based physical nic load" in other word LBT, vDS distributes the traffic according to the load on the NIC. That is,if we have two/four uplinks physical ports then LBT do the similar work to Etherchanel (not sure about the failure of nic). Do we still need to configure the physical port for the port channel/Etherchanel (port trunking)?

Thanks, I am unclear about 75% load balance, here multiple NICs are alive and the load is balanced. Let say that all the VMs are connected via  vmnic0 and its load reached about 50% there is no reason to balanced since it has not reached 75% yet. Some reason vmnic0 fails due to a hardware issue at this 50% load. Will the VMs' connection failover to vmnic1 even though the switch is not figured for EtherChannel?

Explanation about 75% you can find on link - VMware Load-Based Teaming (LBT) Performance. As you can see traffic is starting to be load balanced ionce the first link reaches utilization of 75%, not earlier.

It is dynamic base don the load,  does not say in the case of nic failure, Will it failover if a nic card fails?

I am not familiar with protection mechanisms that are implemented in solution and response time to go around failure in case of nic failure.