Annual Commitment Fee. Beginning on the Closing Date and on the same date each year hereafter throughout the term of the Revolving Facility, Borrower shall pay to Bank an annual Commitment Fee of Ten Thousand Dollars ($10,000) for the commitment made in Section 2.1, which fee shall be nonrefundable.
Appears in 2 contracts
Sources: Loan and Security Agreement (Portfolio Recovery Associates Inc), Loan and Security Agreement (Portfolio Recovery Associates Inc)