Common use of Auction Fee Clause in Contracts

Auction Fee. Together with Borrower's submission of each ----------- Competitive Bid Request, Borrower shall pay to Administrative Agent an auction fee in the amount of $2,500, which fee shall be fully earned and nonrefundable upon Administrative Agent's transmittal of the Competitive Bid Request to the Banks, regardless of whether the request is subsequently cancelled by Borrower, any Bid Loans are made by any Bank or Designated Bid Lender in response thereto or any Competitive Bids are accepted by Borrower.

Auction Fee. Together with Borrower's submission of each ----------- Competitive Bid Request, Borrower shall pay to Administrative Agent an auction fee in the amount of $2,500, which fee shall be fully earned and nonrefundable upon Administrative Agent's transmittal of the Competitive Bid Request to the Banks, regardless of whether the request is subsequently cancelled by Borrower, any Bid Loans are made by any Bank or Designated Bid Lender in response thereto or any Competitive Bids are accepted by Borrower.