Loan Modification Fee Sample Clauses
A Loan Modification Fee clause establishes the requirement for a borrower to pay a fee if they request changes to the terms of their existing loan agreement. This fee typically applies when the borrower seeks to alter aspects such as the repayment schedule, interest rate, or other key loan conditions, and is usually charged to cover administrative costs incurred by the lender during the modification process. The core function of this clause is to compensate the lender for the additional work involved in processing modifications and to discourage unnecessary or frequent changes to the loan terms.
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Loan Modification Fee. In consideration of Lender’s agreement to modify the Loan as set forth in this Amendment, Borrower agrees to pay to Lender a loan modification fee as follows: (a) on the Effective Date, an amount equal to Seven Thousand Five Hundred and No/100 Dollars ($7,500.00); and (b) on the maturity date of the Note (or such later time as the Note is paid off in full), an amount equal to one-half percent (0.50%) of the then-outstanding principal amount on the Note.
Loan Modification Fee. In consideration of the agreement of the Lenders and the Administrative Agent to execute and deliver this Agreement, the Borrowers have agreed to pay the Lenders a loan modification fee equal to $1,240,820.98 (calculated by multiplying fifty basis points (0.50%) times the outstanding principal amount of the Loans on the date of this Agreement, which is $248,164,195.84). The Borrowers have paid $100,000 of such loan modification fee prior to the date of this Agreement. This Agreement shall not be deemed effective unless and until all of the parties have executed and delivered original counterparts of this Agreement to the Administrative Agent and the Borrowers have paid the balance of such loan modification fee by wire transfer of immediately available funds to the Administrative Agent for forwarding to the Lenders.
Loan Modification Fee. Upon execution of this Amendment, Borrower shall pay to Lender a loan modification fee equal to Sixteen Thousand Seven Hundred Ninety Seven and 35/100 Dollars ($16,797.35) (“Loan Modification Fee”). The Loan Modification Fee shall be deemed earned by Lender upon execution of this Amendment.
Loan Modification Fee. Upon execution of this Amendment, Borrower shall pay to Lender a non-refundable loan modification fee of $5,000.
Loan Modification Fee. Borrower shall have paid PFG a fee equal to $10,000 on or before the Modification Effective Date.
Loan Modification Fee. Lender shall have received from Borrower the Loan Modification Fee required by Section 1.4 hereof.
Loan Modification Fee. The Borrower shall pay to the Bank, in addition to the other Obligations, a loan modification fee in the amount of $25,000.00 in two installments. The first installment, in the amount of $10,000.00, shall be due and payable on June 30, 1998. The second installment, in the amount of $15,000.00, shall be due and payable on September 30, 1998.
Loan Modification Fee. Borrower shall pay to Agent, for the ratable benefit of the Lenders, a loan modification and extension fee equal to $54,000.