Common use of Examination Fee Clause in Contracts

Examination Fee. Borrower agrees to pay to Agent, for its sole account, the Examination Fee in the amount set forth in the Schedule in connection with each audit or examination of Borrower performed by Agent prior to or after the date hereof provided that, as set forth in the Schedule, so long as no Event of Default exists, Borrower shall be required to pay the Examination Fee for only one audit or examination in each fiscal quarter of Borrower. Without limiting the generality of the foregoing, Borrower shall pay to Agent, for its sole account, an initial Examination Fee in an amount equal to the amount set forth in the Schedule. Such initial Examination Fee shall be deemed fully earned at the time of payment and due and payable upon the closing of this transaction, and shall be deducted from any good faith deposit paid by Borrower to Agent prior to the date of this Agreement.