Common use of Fees Clause in Contracts

Fees. 3.1 Commitment fee. The Borrower will pay a non-refundable commitment fee of 0.25 % p. a. on undisbursed Loan amounts. The commitment fee will be computed for the period beginning at the date of the first disbursement but not later than 6 months after the signing of this Loan Agreement, or if this Loan Agreement has not entered into force within 6 months after the signing of this Loan Agreement, beginning at the date this Loan Agreement enters into force in accordance with Article 13.11 (Entry into force) hereof, and lasting until such date the Loan has been disbursed in full, or fully cancelled, as the case may be. The commitment fee is due for payment semi-annually and in arrears on 30 June and 30 December of each year (each a "Payment Date"). It is first due for payment on 30.12.2014. 3.2 The Borrower will pay KfW a non-refundable one-time lump-sum management fee of 0.5 % of the principal amount of the Loan stated in Clause 1.1. The management fee becomes due at the earlier of (i) prior to the first disbursement under the Loan or (ii) after expiry of a three-month period after the signing of this Loan Agreement by KfW, or (iii) if this Loan Agreement has not entered into force within three months after signing, on the date on which this Loan Agreement enters into force pursuant to Article 13.11. (Entry into force) hereof. Once this Loan Agreement has been signed the management fee will fully accrue regardless of whether the Loan will be disbursed in full, or at all.