Common use of Auction Fee Clause in Contracts

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

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