Common use of Upfront Fees Clause in Contracts

Upfront Fees. On the date hereof, Borrower shall pay to the Administrative Agent, for the account of each Bank, upfront fees in an amount equal to (a) that Bank's allocated Pro Rata Share of the Commitment times (b) a fee percentage based upon the amount of the offered commitment of that Bank to the credit facilities described herein, as set forth in a written confirmation delivered to that Bank by the Lead Arranger, provided that the fee percentage for Bank of America shall be as set forth in a letter agreement with Bank of America. Such upfront fees are for the credit facilities committed by each Bank under this Agreement and are fully earned when paid. The upfront fees paid to each Bank are solely for its own account and are nonrefundable.

Appears in 3 contracts

Samples: Day Loan Agreement (MGM Mirage), Day Loan Agreement (MGM Mirage), Day Loan Agreement (MGM Mirage)

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Upfront Fees. On the date hereof, Borrower shall pay to the ------------ Administrative Agent, for the account of each Bank, upfront fees in an amount equal to (a) that Bank's allocated Pro Rata Share of the Commitment times (b) a ----- fee percentage based upon the amount of the offered commitment of that Bank to the credit facilities described herein, as set forth in a written confirmation delivered to that Bank by the Lead Arranger, provided that the fee percentage -------- for Bank of America shall be as set forth in a letter agreement with Bank of America. Such upfront fees are for the credit facilities committed by each Bank under this Agreement and are fully earned when paid. The upfront fees paid to each Bank are solely for its own account and are nonrefundable.

Appears in 2 contracts

Samples: Term Loan Agreement (MGM Grand Inc), Loan Agreement (MGM Grand Inc)

Upfront Fees. On the date hereofClosing Date, Borrower shall pay to the ------------ Administrative Agent, for the account of each Bank, upfront fees in an amount equal to (a) that Bank's allocated Pro Rata Share of the Commitment times (b) a fee ----- percentage based upon the amount of the offered commitment of that Bank to the credit facilities described herein, as set forth in a written confirmation delivered to that Bank by the Lead ArrangerConfidential Information Memorandum, provided that the fee percentage for Bank of America shall be as set -------- forth in a letter agreement with Bank of America. Such upfront fees are for the credit facilities committed by each Bank under this Agreement and are fully earned when paid. The upfront fees paid to each Bank are solely for its own account and are nonrefundable.

Appears in 1 contract

Samples: Loan Agreement (MGM Grand Inc)

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Upfront Fees. On the date hereof, Borrower shall pay to the Administrative Agent, for the account of each BankLender, upfront fees in an amount equal to (a) that BankLender's allocated Pro Rata Share of the Commitment relevant Commitments times (b) a fee percentage based upon the amount of the offered commitment of that Bank Lender to the credit facilities described herein, as set forth in a written confirmation delivered to that Bank Lender by the Lead Arranger, provided that the fee percentage for Bank of America shall be as set forth in a letter agreement with Bank of America. Such upfront fees are for the credit facilities committed by each Bank Lender under this Agreement and are fully earned when paid. The upfront fees paid to each Bank Lender are solely for its own account and are nonrefundable.

Appears in 1 contract

Samples: Loan Agreement (MGM Mirage)

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