Common use of Initial Loan Fee Clause in Contracts

Initial Loan Fee. Concurrently with or prior to the Closing Date, Borrower shall pay to the Lender the Loan Fee specified in the Loan Schedule. The entire Loan Fee shall be deemed to be fully earned by the Lender as of the Loan Closing, and no part of the Loan Fee shall be refundable to Borrower, whether or not the principal balance of the Loan is prepaid prior to the Maturity Date.

Initial Loan Fee. Concurrently with or prior to the Closing Datedate of the Loan Closing, Borrower shall pay to the Lender the Loan Fee specified in the Loan Schedule. The entire amount of the Loan Fee shall be deemed to be fully earned by the Lender as of the date of the Loan Closing, and no part of the Loan Fee shall be refundable to Borrower, whether or not the principal balance of the Loan is prepaid or the Commitment is terminated prior to the Maturity Date.