13 C.F.R. § 107.1210

Current through November 30, 2024
Section 107.1210 - Payment of leverage fee upon receipt of commitment
(a)Partial prepayment of leverage fee. As a condition of SBA's Leverage commitment, and before you draw any Leverage under such commitment, you must pay to SBA a non-refundable fee equal to 1 percent of the face amount of the Debentures or Participating Securities reserved under the commitment. This amount represents a partial prepayment of the 3 percent leverage fee established under § 107.1130(a) .
(b)Automatic cancellation of commitment. Unless you pay the fee required under paragraph (a) of this section by 5:00 P.M. Eastern Time on the 30th calendar day following the issuance of SBA's Leverage commitment, the commitment will be automatically canceled.

13 C.F.R. §107.1210

63 FR 5868, Feb. 5, 1998