Common use of Compensation of the Disbursement Agent Clause in Contracts

Compensation of the Disbursement Agent. On February 17, 2013 and then on the 17th day of each April, June, August, October, December and February until such time as the Final Completion Date (as the same may be extended in accordance with this Agreement) shall have occurred, Borrower shall pay, or cause to be paid the fees and any other amounts scheduled to be paid under the Agency Fee Letter, which amount shall constitute compensation for services to be performed by the Disbursement Agent for the immediately succeeding two (2) month period commencing on the 17th day of the calendar month in which such payment is due. Upon the request of the Borrower (unless an Event of Default has occurred and is continuing) the Disbursement Agent shall instruct the securities intermediary or account bank to transfer such fees and any other amounts scheduled to be paid under the Agency Fee Letter from the Company Funds Account directly to the Disbursement Agent.