Processing Fee is Non-Refundable Clause Samples
The 'Processing Fee is Non-Refundable' clause establishes that any processing fee paid by a party will not be returned under any circumstances. In practice, this means that once the fee is paid—such as for application review, administrative handling, or initial setup—it remains with the recipient regardless of whether the underlying transaction is completed or canceled. This clause serves to compensate the service provider for administrative costs and discourages frivolous applications or requests, ensuring that the provider is not financially disadvantaged by processing activities even if the main agreement does not proceed.
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Processing Fee is Non-Refundable. The Applicant acknowledges and agrees that the Processing Fee paid pursuant to Section 4(b) of this Agreement is, pursuant to RIGL §44-33.6-4(d), non- refundable. Processing Fees will not be returned if the Applicant subsequently abandons the Project and no longer desires the Tax Credit nor will Processing Fees be returned, in part, if the Processing Fees paid with this Agreement exceed three percent (3%) of the actual Qualified Rehabilitation Expenditures incurred by the Project as certified by the Tax Division.
