A bank will always charge a fee for making available a facility and may well seek to recover its legal and other costs from the borrower. These items are specified and described in this clause. It is important for the borrower always to check the terms and dates on which any fees or expenses will be payable. It is common practice for the bank to deduct its fees and expenses from the principal amount of the Facility made available to the borrower. Potentially, this could result in the borrower actually receiving a net amount less than the headline amount of the facility.
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