Common use of Collateral Evaluation Fee and Collateral Monitoring Fee Clause in Contracts

Collateral Evaluation Fee and Collateral Monitoring Fee. (a) Borrowers shall pay Agent a collateral monitoring fee equal to $1,500 per month commencing on the first day of the month following the Closing Date and on the first day of each month thereafter during the Term. The collateral monitoring fee shall be deemed earned in full on the date when same is due and payable hereunder and shall not be subject to rebate or proration upon termination of this Agreement for any reason. (b) Borrowers shall pay to Agent on the first day of each month following any month in which Agent performs any collateral evaluation — namely any field examination, collateral analysis, the need for which is to be determined by Agent and which evaluation is undertaken by Agent or for Agent’s benefit — a collateral evaluation fee in an amount equal to $850 per day for each person employed to perform such evaluation, plus all reasonable out of pocket costs and disbursements incurred by Agent in the performance of such examination or analysis.

Collateral Evaluation Fee and Collateral Monitoring Fee. (a) Borrowers shall pay Agent a collateral monitoring fee equal to $1,500 1,000 per month commencing on the first day of the month following the Closing Date and on the first day of each month thereafter during the Term. The collateral monitoring fee shall be deemed earned in full on the date when same is due and payable hereunder and shall not be subject to rebate or proration upon termination of this Agreement for any reason. (b) Borrowers shall pay to Agent on the first day of each month following any month in which Agent performs any collateral evaluation — - namely any field examination, collateral analysis or other business analysis, the need for which is to be determined by Agent and which evaluation is undertaken by Agent or for Agent’s benefit — - a collateral evaluation fee in an amount equal to $850 per day for each person employed to perform such evaluation, plus all reasonable out of pocket costs and disbursements incurred by Agent in the performance of such examination or analysis. (c) All of the fees and out-of-pocket costs and expenses of any appraisals conducted pursuant to Section 4.21 hereof shall be paid for when due, in full and without off-set, by Borrowers.