Modification Fee Clause Samples
A Modification Fee clause establishes the requirement for a party to pay a specified fee if they request changes to the terms of an existing agreement. Typically, this fee applies when one party seeks to alter deliverables, timelines, or other contractual obligations after the contract has been executed. By imposing a cost on modifications, the clause discourages unnecessary changes and compensates the other party for the administrative burden or potential disruption caused by such requests.
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Modification Fee. In consideration of the Lenders amending the Loan Agreement as provided herein, each Borrower jointly and severally agrees to pay to the Agent for the account of each Lender approving this Amendment (which approval is evidenced by its signature below) a modification fee in an amount equal to one-half of one percent (0.50%) of such Lender’s Commitment.
Modification Fee. Borrowers shall pay to Administrative Agent a modification fee when and as designated in any fee letter by and between Borrowers and Administrative Agent.
Modification Fee. The Borrower shall have paid to the Bank in immediately available funds a modification fee in the amount of $5,000, which fee shall be deemed fully earned and non-refundable once paid.
Modification Fee. Lender shall have received from Borrower a fully-earned and non-refundable modification fee of Ten Thousand Dollars ($10,000.00).
Modification Fee. In consideration of Lender's willingness to modify the Credit Agreement as provided in this agreement, Borrowers will pay to Lender a fee in the amount of $325,000.00 (the "Modification Fee"), which Modification Fee is fully-earned as of the date of this Agreement, but which shall be payable on the earlier of: (i) termination of the Credit Facility; or (ii) January 31, 2010.
Modification Fee. Borrower shall pay the Modification Fee at the earliest of (i) the closing of an Acquisition, and (ii) December 4, 2027, provided however, if Parent completes its Initial Public Offering before either such date, then Borrower shall no longer have any obligation to pay the Modification Fee. The parties hereto acknowledge and agree that Parent completed its Initial Public Offering on July 3, 2018 and Borrower does not have an obligation to pay the Modification Fee.
Modification Fee. If the Bank, at its discretion, agrees to modify or amend any terms of this Agreement, the Borrowers will, at the Bank’s option, pay the Bank a fee for each Borrower-initiated amendment or modification in an amount advised by the Bank at the time the Borrowers request such amendment or modification. Nothing in this Section shall imply that the Bank is obligated to agree to any modification or amendment requested by the Borrowers. The Bank may impose additional requirements as a condition to any modification or amendment.
Modification Fee. Borrower shall have paid a Modification Fee of $55,000 to Administrative Agent for the benefit of Lenders according to their Revolving Percentages.
Modification Fee. In consideration for Lender granting the modifications set forth above, Borrower shall pay Lender a non-refundable loan modification fee in the amount of $250.00 upon the execution hereof. In addition to the loan extension fee, Borrower shall pay all costs and expenses incurred by Lender in connection with this Modification, including, without limitation, all title insurance costs, recording fees and attorney’s fees, and other applicable out of pocket expenses.
Modification Fee. In the event a Customer’s Services are modified for any reason by WIN, Customer shall pay a modification fee up to $15.00.