Common use of UCC Fee Clause in Contracts

UCC Fee. In the event that Processor receives a notice from a secured creditor of yours requesting that funds due to You under this Agreement be paid to the secured creditor or held pending further instruction from the secured creditor, You agree to pay Processor a fee in the amount of Five Hundred and Ninety-Nine Dollars ($599.00) to cover at least some of the time, costs and expenses incurred by Processor in handling such notice. Such fee shall be in addition to any other fees due to Processor under this Agreement and in addition to any amounts that are payable to such secured creditor