Common use of Credit Fee Clause in Contracts

Credit Fee. (a) The Borrower shall pay a credit fee on the undisbursed balance of the Loan, at a percentage set by the Bank periodically during its review of financial charges on ordinary capital loans. The credit fee shall not exceed 0.75% per annum. (b) The credit fee will begin to accrue sixty (60) days from the date of signature of the Contract. (c) The credit fee shall cease to accrue: (i) when all disbursements have been made; and