CORRESPONDENT FEE definition
CORRESPONDENT FEE. Any compensation for Chur▇▇▇▇▇ ▇▇▇tgage Company ("Correspondent") or any other broker shall be the sole responsibility of Borrower and Key Principals. Without liability for failure to do so, Lender will use reasonable efforts (but only upon the closing of the Loan) to honor Borrower's written request that Correspondent be paid out of the proceeds of the Loan the fee agreed to by said Correspondent be paid out of the proceeds o the Loan the fee agreed to by said parties. Exhibit 10.8
Examples of CORRESPONDENT FEE in a sentence
Borrower agrees to pay the commission of the Correspondent (if any) identified in the "CORRESPONDENT FEE" paragraph of this Commitment and of any other broker used in this transaction, and Borrower and Key Principals agree to hold harmless and defend the Lender (and Correspondent, if any) from and against any and all claims for brokers' or finders' fees and commissions in connection with the transaction.