COMMITMENT LETTER FEE Sample Clauses
The Commitment Letter Fee clause defines the requirement for the borrower to pay a fee to the lender in exchange for the issuance of a commitment letter, which outlines the lender’s agreement to provide financing under specified terms. This fee is typically non-refundable and is paid either upon acceptance of the commitment letter or at a specified milestone in the transaction process. By establishing this fee, the clause compensates the lender for reserving funds and conducting due diligence, while also ensuring the borrower’s seriousness and commitment to proceeding with the financing arrangement.
COMMITMENT LETTER FEE. The Borrowers have paid to Lenders' Agent, for allocation among the Agents and the Lenders (as separately agreed by them), a non-refundable fee (the "Commitment Letter Fee") in the amount of $1,250,000.