Further Advance Sample Clauses

Further Advance. 2.2 Subject to each of the parties agreeing by mutual consent in writing, each Noteholder shall transfer an amount equal to the Applicable Percentage of the Further Advance, as applicable (less an amount equal to the sums deducted in accordance with Clause 2.9) by telegraphic transfer for same day value to the Company on the Drawdown Date provided the capital to be advanced by the Noteholders during the Commitment Period is not greater than the Maximum Commitment (including the Initial Advance). The Company shall apply the Further Advance:

Further Advance. 0.2% of the loan amount plus a research fee of £100. Reduced by commission received – see below. All loans are subject to a minimum of £100. Fees are split between a Research Fee of £100 payable before we undertake our research (non-refundable) and 0.2% of the loan due upon completion. As a working example, for a mortgage of £100,000, our fee would be £650. This would be payable in two instalments, with £250 paid upon application and £400 paid on completion of the mortgage. A typical lender would pay us 0.3% of the mortgage amount. That would mean in this example a lender payment of £300, leaving you with a fee on completion of only £100. As an alternative example, for a mortgage of £500,000, our fee would be £2,450. This would be payable in two instalments, with £250 paid upon application and £2,200 paid on completion of the mortgage. A typical lender would pay us 0.3% of the mortgage amount. That would mean in this example a lender payment of £1,500, leaving you with a fee on completion of only £700.