Common use of Agent Fee Clause in Contracts

Agent Fee. In the event that any of the Lenders sells, transfers or assigns any of its Loans to an unaffiliated third Person who is not another Investor or an Affiliate thereof pursuant to subsection 9.6, the Borrower agrees to pay to the Agent for its own account an annual administrative fee of $25,000, payable in full on the effective date of such sale, transfer and assignment (such fee being pro-rated for the first year in which such fee becomes payable) and each annual anniversary of the Closing Date thereafter.