COMMITMENTS AND AGENCY FEES Clause Samples

COMMITMENTS AND AGENCY FEES. (a) In order to compensate the Agent for its obligations hereunder, the Borrower agrees to pay to the Agent for its own account the fees set forth in a separate letter agreement between the Agent and the Borrower dated February 3, 1998 and commencing on March 16, 2003, the Borrower shall pay the Agent an annual agency fee of $100,000, payable annually in advance commencing on March 16, 2003 and each anniversary thereof until the Termination Date. The agency fee shall be deemed fully earned when paid.