Document ID: chunk:federal_register_of_legislation:C2025C00096:schedule:1a:p4
Version: federal_register_of_legislation:C2025C00096
Segment Type: schedule
Provision Reference: sch 1A (pt 4/9)
Character Range: 301757–304526

5 hereof.
     2.3 The Commonwealth further agrees to pay to the Bank a Subsidy with respect to each Variation Advance in accordance with the provisions of Clause 11 of the Amended Agreement.
     2.4 The Bank further agrees that with respect to each Variation Advance it shall be bound by and act at all times in accordance with this Supplementary Agreement and the Amended Agreement.
     2.5 The Commonwealth and the Bank agree that in order to give effect to this Supplementary Agreement the provisions of the Agreement are to be amended in accordance with the provisions of the Schedule to this Supplementary Agreement.

     3. UNIT FEE
     3.1 The Bank agrees to pay to the Commonwealth
        (a) a minimum Unit Fee of four hundred dollars ($400.00) for each advance falling within paragraphs (a) (i) and (b) of the definition of Variation Advance which it grants pursuant to this Supplementary Agreement; and
        (b) in each Unit Fee Claim Period, a further amount equivalent to the product of:
            (i) the minimum Unit Fee; and
            (ii) the number of Borrowers the sum total of whose first advance being an advance falling within paragraphs (a) (i) or (b) of the definition of Variation Advance and any other unsubsidised loan funds from the Bank provided to the Borrowers at the same time and for the same purpose as such Variation Advance exceeds sixty thousand dollars ($60,000.00); and
            (iii) the fraction the numerator of which is the average amount by which each of the borrowings referred to in Sub‑clause 3.1(b)(ii) exceeds sixty thousand dollars ($60,000.00) and the denominator of which is sixty thousand dollars ($60,000.00).
        (c) In the event that the Commonwealth or any State or Territory legislature enacts legislation which restricts the Bank's ability to set its Establishment Fees as the Bank determines and as a result the Bank receives less by way of Establishment Fees than would otherwise have been the case the Bank shall have the right to reduce the amount payable to the Commonwealth pursuant to Sub‑clause 3.1(b) by the difference between what it would have received in Establishment Fees and what it has in fact received and in the event of a dispute or disagreement arising between the Commonwealth and the Bank as to the amount of the reduction, the provisions of Sub‑clause 3.6 shall apply.
     3.2 For the purposes of this Clause the Bank shall be taken to have granted a Variation Advance to an Entitled Applicant upon the execution by the Entitled Applicant of all necessary mortgage or security documentation, or if mortgage or security documentation does not exist or is not required by the Bank, the date on which the Borrower first draws upon the Variation Advance.
     3.3 On or