Common use of Commission and Fees Clause in Contracts

Commission and Fees. 1. The Bank shall determine the rate and any other terms and conditions of the commission to be charged in connection with direct loans made or participated in as part of its ordinary operations. This commission shall be computed on the amount outstanding on each loan or participation and shall be at the rate of not less than one (1) per cent per annum in the first five (5) years of the operations of the Bank. At the end of this period, the rate of commission may be set at such level as the Bank considers appropriate in the light of the level of the reserves of the Bank. 2. In guaranteeing a loan as part of its ordinary operations, the Bank shall, in addition to any other charges, require a guarantee fee, at a rate determined by the Board of Directors, payable periodically on the amount of the loan outstanding. 3. Other charges of the Bank in its ordinary operations, and any commission, fees or other charges in its special operations, shall be determined by the Board of Directors.

Commission and Fees. 1. The Bank shall determine the rate and any other terms and conditions of the charge, in addition to interest, a commission to be charged in connection with on direct loans made or participated in as part of its ordinary operations. This commission commission, payable periodically, shall be computed on the amount outstanding on each loan or participation and shall be at the rate of not less than one (1) per cent per annum in annum, unless the Bank, after the first five (5) years of the operations its operations, decides to reduce this minimum rate by a two-thirds majority of its members, representing not less than three-fourths of the Bank. At the end of this period, the rate of commission may be set at such level as the Bank considers appropriate in the light total voting power of the level of the reserves of the Bankmembers. 2. In guaranteeing a loan as part of its ordinary operations, the Bank shall, in addition to any other charges, require shall charge a guarantee fee, at a rate determined by the Board of Directors, payable periodically on the amount of the loan outstanding. 3. Other charges of the Bank in its ordinary operations, operations and any commission, fees or other charges in its special operations, operations shall be determined by the Board of Directors.