Common use of Arrangement Fee — Commitment Fee Clause in Contracts

Arrangement Fee — Commitment Fee. As an inducement for the Bank to enter into this Agreement the Borrower shall pay to the Bank: (a) on or before the date hereof an arrangement fee in an amount equal to 0.20% of the amount of the Commitment; and (b) in arrears on each of the dates falling at three monthly intervals after the date hereof until the earlier of (a) the last day of the Availability Period (b) the Drawdown Date of the Advance second to occur and (c) the date of cancellation of the Commitment in full by the Borrower (the “Commitment Commission Period”) commitment commission at the rate of zero point two zero (0.20%) percent per annum on the daily undrawn and uncancelled amount of the Commitment, computed from the date hereof (in the case of the first payment of commission) and from the date of the preceding payment of commission (in the case of each subsequent payment) until the last day of the Commitment Commission Period. The arrangement fee and commitment commission referred to in this Clause 10.8 are not refundable and shall be payable by the Borrower to the Bank whether or not any part of the Commitment is ever advanced.

Arrangement Fee — Commitment Fee. As an inducement for the Bank to enter into this Agreement the Borrower shall pay to the Bank: (a) on or before the date hereof an arrangement fee in an amount equal to 0.200.40% of the amount of the Commitment, payable on the date hereof; and (b) in arrears on each of the dates falling at three monthly intervals after the date hereof 14th January, 2009 until the earlier of (a) the last day of the Availability Period (b) the Drawdown Date of the Advance second to occur and (c) the date of cancellation of the Commitment in full by the Borrower (the “Commitment Commission Period”) commitment commission at the rate of zero point two four zero (0.200.40%) percent per annum on the daily undrawn and uncancelled amount of the Commitment, computed from the date hereof of acceptance of the Commitment Letter by or on behalf of the Borrower (in the case of the first payment of commission) and from the date of the preceding payment of commission (in the case of each subsequent payment) until the last day of the Commitment Commission Period. The arrangement fee and commitment commission referred to in this Clause 10.8 are not refundable and shall be payable by the Borrower to the Bank whether or not any part of the Commitment is ever advanced.