Common use of Loan Commitment Fee Clause in Contracts

Loan Commitment Fee. Borrower shall pay an annual commitment fee of Thirty Six Thousand Dollars ($36,000). $24,000 was paid on April 30, 1997 and the balance of $12,000 is due on July 1, 1997 and $36,000 is due July 1, 1998. No portion of this fee shall be reimbursable.

Loan Commitment Fee. Beginning October 9, 1998, and each year thereafter, Borrower shall pay an annual annual, non-refundable commitment fee of Thirty Six Seven Thousand Five Hundred Dollars ($36,00037,500). $24,000 was paid on April 30, 1997 and the balance of $12,000 is due on July 1, 1997 and $36,000 is due July 1, 1998. No portion of this fee shall be reimbursable.