SyndTrak Fee Clause Samples
The SyndTrak Fee clause defines the obligation of one party, typically the borrower, to pay a fee associated with the use of the SyndTrak platform, which is a software system used for managing syndicated loan transactions. This fee may cover the costs of setting up, maintaining, or accessing the platform, and is often payable to the administrative agent or directly to the service provider. By specifying responsibility for this fee, the clause ensures that the costs of using essential transaction management tools are clearly allocated, preventing disputes and facilitating smooth loan administration.
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SyndTrak Fee. The Borrowers shall pay to Administrative Agent, for its own account and not the account of any Lender, an annual SyndTrak fee ("SyndTrak Fee") equal to $1,500. The SyndTrak Fee will be payable on the Effective Date and on each anniversary thereof until the Final Maturity Date. Such fee shall be deemed earned in full on the date when same is due and payable hereunder and shall not be subject to rebate or proration upon termination of this Agreement for any reason.