Common use of Loan Servicing Fee Clause in Contracts

Loan Servicing Fee. From and after the Effective Date and until the later of (i) the Final Maturity Date and (ii) the date on which all Obligations are Paid in Full, the Borrowers shall pay to the Administrative Agent for the account of the Agents a non-refundable loan servicing fee (the “Loan Servicing Fee”) equal to $20,000 each quarter, which shall be payable quarterly in advance on the Effective Date and on the first day of each calendar quarter thereafter, commencing on January 1, 2016 (in the case of the fee paid on the Effective Date, it shall be payable ratably based on the number of days remaining in the calendar quarter in which the Effective Date occurs). For the avoidance of doubt, and without limiting the generality of Section 4.01 hereof, Borrowers hereby agree that upon the coming due of any such Loan Servicing Fee, the entire amount thereof may be charged to the Loan Account of Borrowers as a Revolving Loan made as a Reference Rate Loan; provided that upon any such charge to the Loan Account, Administrative Agent shall give prompt notice to Administrative Borrower of such charge and of the calculation and total amount of such Loan Servicing Fee so charged on any date.

Loan Servicing Fee. From and after the Effective Date and until the later of (i) the Final Maturity Date and (ii) the date on which all Obligations are Paid in Full, the Borrowers shall pay to the Administrative Agent for the account of the Agents a non-refundable loan servicing fee (the “”Loan Servicing Fee”) equal to $20,000 each quarter, which shall be payable quarterly in advance on the Effective Date and on the first day of each calendar quarter thereafter, commencing on January 1, 2016 (in the case of the fee paid on the Effective Date, it shall be payable ratably based on the number of days remaining in the calendar quarter in which the Effective Date occurs). For the avoidance of doubt, and without limiting the generality of Section 4.01 hereof, Borrowers hereby agree that upon the coming due of any such Loan Servicing Fee, the entire amount thereof may be charged to the Loan Account of Borrowers as a Revolving Loan made as a Reference Rate Loan; provided that upon any such charge to the Loan Account, Administrative Agent shall give prompt notice to Administrative Borrower of such charge and of the calculation and total amount of such Loan Servicing Fee so charged on any date.