Common use of Loan Origination Fee Clause in Contracts

Loan Origination Fee. On the Effective Date, the Borrowers shall pay to the Lender a non-refundable loan origination fee equal to two million Dollars ($2,000,000), which shall be deemed fully earned when paid and which may be paid by netting the amount of such fee against the proceeds of the Loan (after giving effect to the original issue discount applicable to the Loan) as set forth in the Flow of Funds Memorandum.

Loan Origination Fee. On the Effective Date, the Borrowers shall pay to the Lender a A non-refundable loan origination fee equal to of Forty-One Thousand Six Hundred Dollars [$41,600] [two million Dollars ($2,000,000), which percent [2%] of the Loan]. Said fee shall be deemed fully earned when paid in two installments, Twenty Five Thousand Dollars [$25,000] having been paid prior to the date of this Agreement, and which may the second installment of Sixteen Thousand Six Hundred Dollars [$16,600]to be paid by netting at the amount of such fee against the proceeds closing of the Loan (after giving effect to the original issue discount applicable to the Loan) as set forth in the Flow of Funds Memorandum["Closing"].