§ 107.1210. Payment of leverage fee upon receipt of commitment.
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/us/cfr/t13/s§ 107.1210·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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. \[63 FR 5868, Feb. 5, 1998\]