ON THE FIRST DAY OF THE MONTH NEXT FOLLOWING
THAT DURING WHICH SUCH INTEREST ACCRUED.
(II)
ON THE TERMINATION DATE.
(III)
ON THE END DATE.
1-9.
FEES.
BORROWERS SHALL PAY TO THE LENDER THE FOLLOWING FEES:
(A)
COLLATERAL MONITORING FEES. ON THE EXECUTION DATE HEREOF AND ON
THE FIRST DAY OF EACH MONTH THEREAFTER DURING THE TERM HEREOF, A COLLATERAL
MONITORING FEE IN THE AMOUNT OF TWO THOUSAND ($2,000) DOLLARS.
(B)
UNUSED LINE FEE. ON THE FIRST DAY OF EACH MONTH DURING THE TERM OF
THIS AGREEMENT, AN "UNUSED LINE FEE" IN AN AMOUNT EQUAL TO ONE QUARTER OF ONE
(0.25%) PERCENT OF THE AVERAGE UNUSED PORTION OF THE CREDIT LIMIT.
6
(C)
FINANCIAL EXAMINATION, LEGAL INVESTIGATION, DOCUMENTATION, AND
APPRAISAL FEES. SUBJECT TO THE PROVISIONS OF ARTICLE 9-9, LENDER'S ACTUAL
CHARGES PAID OR INCURRED FOR EACH FINANCIAL ANALYSIS AND EXAMINATION (I.E.,
AUDITS) OF BORROWERS PERFORMED BY PERSONNEL EMPLOYED BY LENDER; LENDER'S ACTUAL
CHARGES PAID OR INCURRED FOR EACH APPRAISAL OF THE COLLATERAL PERFORMED BY
PERSONNEL EMPLOYED BY LENDER; AND, THE ACTUAL CHARGES PAID OR INCURRED BY LENDER
IF IT ELECTS TO EMPLOY THE SERVICES OF ONE OR MORE THIRD PERSONS TO PERFORM
LEGAL INVESTIGATION, DOCUMENTATION FINANCIAL ANALYSIS AND EXAMINATIONS (I.E.,
AUDITS) OF BORROWERS OR TO APPRAISE THE COLLATERAL.
(D)
IN ADDITION TO ANY OTHER RIGHT TO WHICH THE LENDER IS THEN
ENTITLED ON ACCOUNT THEREOF, THE LENDER MAY ASSESS AN ADDITIONAL FEE PAYABLE BY
THE BORROWERS ON ACCOUNT OF THE ACCOMMODATION OF LENDER TO THE BORROWERS'
REQUEST THAT THE LENDER DEPART OR DISPENSE WITH ONE OR MORE OF THE
ADMINISTRATIVE PROVISIONS OF THIS AGREEMENT AND/OR THE BORROWERS' FAILURE TO
COMPLY WITH ANY OF SUCH PROVISIONS.
(I)
BY WAY OF NON-EXCLUSIVE EXAMPLE, THE LENDER MAY ASSESS A FEE ON
ACCOUNT OF ANY OF THE FOLLOWING:
(A)
THE BORROWERS' FAILURE TO PAY THAT AMOUNT WHICH
IS NECESSARY SO THAT THE PRINCIPAL BALANCE OF THE LOAN ACCOUNT DOES NOT EXCEED
AVAILABILITY (AS REQUIRED UNDER SECTION L-7(B ), ABOVE).
(B)
THE PROVIDING OF A LOAN OR ADVANCE UNDER THE
REVOLVING CREDIT SUCH THAT AVAILABILITY WOULD BE EXCEEDED.
(C)
THE PROVIDING OF A SAME BANKING DAY LOAN
REQUESTED AFTER THE TIME SET FORTH IN SECTION L-4(B )(I), ABOVE.
(D)
THE BORROWERS' FAILURE TO PROVIDE A FINANCIAL
STATEMENT OR REPORT WITHIN THE APPLICABLE TIME-FRAME PROVIDED FOR SUCH REPORT
UNDER ARTICLE 9, BELOW.
(II)
THE INCLUSION OF THE FOREGOING RIGHT ON THE PART OF THE LENDER TO
ASSESS A FEE DOES NOT CONSTITUTE AN OBLIGATION, ON THE PART OF THE LENDER, TO
WAIVE ANY PROVISION OF THIS AGREEMENT UNDER ANY CIRCUMSTANCES. THE ASSESSMENT OF
ANY SUCH FEE IN ANY PARTICULAR CIRCUMSTANCE SHALL NOT CONSTITUTE THE LENDER'S
WAIVER OF ANY BREACH OF THIS AGREEMENT ON ACCOUNT OF WHICH SUCH FEE WAS ASSESSED
NOR A COURSE OF ACTION ON WHICH THE BORROWERS MAY RELY.
(E)
THE BORROWERS SHALL NOT BE ENTITLED TO ANY CREDIT, REBATE OR
REPAYMENT OF ANY COLLATERAL MAINTENANCE FEE, COMMITMENT FEE OR OTHER FEE
PREVIOUSLY EARNED BY THE LENDER PURSUANT TO THIS SECTION NOTWITHSTANDING ANY