Common use of Completion of Due Diligence; Payment and Disposition of Commitment Fee Clause in Contracts

Completion of Due Diligence; Payment and Disposition of Commitment Fee. As an additional condition precedent under Section 4.1 of the Loan and Security Agreement, Lender shall have completed to its satisfaction its due diligence review of Borrowers’ business and financial condition and prospects, and Lender’s credit committee shall have approved the Commitment. If this condition is not satisfied, Lender shall refund to Borrowers the Twenty-Five Thousand Dollar ($25,000.00) commitment fee previously paid to Lender on account of the Commitment. Lender agrees that with respect to each Loan advanced, on the Borrowing Date applicable to such Loan, Lender shall credit against the payments due from Borrowers on such date in respect of such Loan an amount equal to the product of Twenty-Five Thousand Dollars ($25,000.00) and a fraction the numerator of which is the principal amount of such Loan and the denominator of which is Five Million Dollars ($5,000,000.00), until the aggregate amount of such credits equals but does not exceed Twenty-Five Thousand Dollars ($25,000.00).

Completion of Due Diligence; Payment and Disposition of Commitment Fee. As an additional condition precedent under Section 4.1 of the Loan and Security Agreement, Lender shall have completed to its satisfaction its due diligence review of Borrowers’ Borrower’s business and financial condition and prospects, and Lender’s credit investment committee shall have approved the its Commitment. If this condition is not satisfied, Lender shall refund to Borrowers the Twenty-Five One Hundred Thousand Dollar Dollars ($25,000.00100,000) commitment fee (the “Commitment Fee”) previously paid to Lender on account of the Commitmentby Borrower shall be refunded. Each Lender agrees that with respect to each Growth Capital Loan advancedadvanced by it under its Commitment, on the Borrowing Date applicable to such Loan, such Lender shall credit against the payments due from Borrowers Borrower on such date in respect of such Loan an amount equal to the product of Twenty-Five Fifty Thousand Dollars ($25,000.0050,000) and a fraction the numerator of which is the principal amount of such Loan and the denominator of which is Five Million Dollars ($5,000,000.005,000,000), until the aggregate amount of such credits by such Lender equals but does not exceed Twenty-Five Fifty Thousand Dollars ($25,000.0050,000). Except as set forth in this section, the Commitment Fee is not refundable.

Completion of Due Diligence; Payment and Disposition of Commitment Fee. As an additional condition precedent under Section 4.1 of the Loan and Security Agreement, Lender shall have completed to its satisfaction its due diligence review of Borrowers’ Borrower’s business and financial condition and prospects, and Lender’s credit committee shall have approved the Commitment. If this condition is not satisfied, Lender shall refund to Borrowers Borrower the TwentyThirty-Five Thousand Dollar ($25,000.0035,000.00) commitment fee previously paid to Lender on account of the Commitment. Lender agrees that with respect to each Loan advanced, on the Borrowing Date applicable to such Loan, Lender shall credit against the payments due from Borrowers Borrower on such date in respect of such Loan an amount equal to the product of TwentyThirty-Five Thousand Dollars ($25,000.0035,000.00) and a fraction the numerator of which is the principal amount of such Loan and the denominator of which is Five Seven Million Dollars ($5,000,000.007,000,000.00), until the aggregate amount of such credits equals but does not exceed TwentyThirty-Five Thousand Dollars ($25,000.0035,000.00).

Completion of Due Diligence; Payment and Disposition of Commitment Fee. As an additional condition precedent under Section 4.1 of the Loan and Security Agreement, Lender shall have completed to its satisfaction its due diligence review of Borrowers’ Borrower’s business and financial condition and prospects, and Lender’s credit committee shall have approved the Commitment. If this condition is not satisfied, Lender shall refund to Borrowers Borrower the Twenty-Five Thousand Dollar ($25,000.005,000.00) commitment fee previously paid to Lender on account of the Commitment. Lender agrees that with respect to each Loan advanced, on the Borrowing Date applicable to such Loan, Lender shall credit against the payments due from Borrowers Borrower on such date in respect of such Loan an amount equal to the product of Twenty-Five Thousand Dollars ($25,000.005,000.00) and a fraction the numerator of which is the principal amount of such Loan and the denominator of which is Five One Million Dollars ($5,000,000.001,000,000.00), until the aggregate amount of such credits equals but does not exceed Twenty-Five Thousand Dollars ($25,000.005,000.00).