Common use of Structuring and Due Diligence Fee Clause in Contracts

Structuring and Due Diligence Fee. The Borrower shall pay the Lender a fee in the amount of $35,000, to reimburse the Lender for the costs, fees and expenses incurred by the Lender in conducting its due diligence and structuring this transaction. Such fee shall be fully earned and paid to the Lender on or before the Funding Date regardless of whether or not the transactions contemplated hereby are consummated. The fee shall be paid by a Revolving Advance under the Revolving Credit Facility on the Funding Date. The Borrower acknowledges and agrees that this fee is in addition to, and shall not be applied against, the legal fees and expenses incurred by the Lender in connection with the negotiation and preparation of the Financing Agreements.