Common use of Deferred Fee Clause in Contracts

Deferred Fee. The Borrower shall pay to the Facility Agent on the applicable Payment Date the Deferred Fee in an amount calculated as being the lesser of: (a) 15 per cent. of the amount of the Loan borrowed under the Facility Agreement; and (b) 15 per cent. of the Reference Amount less the aggregate of any amounts previously paid by the Borrower as Prepayment Fees pursuant to the terms of the Facility Agreement during the Security Period.