Common use of Engineering Fee Clause in Contracts

Engineering Fee. In addition to the interest on the Notes as provided herein and other fees payable hereunder and to compensate the Agent for costs of evaluating the Mortgaged Properties and reviewing the Reserve Reports, the Borrower shall pay to the Agent, in immediately available funds, an engineering fee of $5,000 per each semi-annual Borrowing Base review and to the Agent for the benefit of the Lenders other than the Agent, an engineering fee of $2,500 per each semi-annual Borrowing Base review. The Borrower shall pay to the Agent an engineering fee of $2,500 per each interim Borrowing Base review and to the Agent for the benefit of the Lenders other than the Agent, an engineering fee of $1,250 per each interim Borrowing Base review.