Common use of Prepayment Fee Clause in Contracts

Prepayment Fee. If any advance under the Term Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by Borrowers, by reason of the occurrence of an Event of Default or the acceleration of the Term Loan, or otherwise), or if the Term Loan shall become accelerated and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of each of Term Loan Tranche 1, Term Loan Tranche 2 or Term Loan Tranche 3 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: ((x) four percent (4.0%) for the first year following the Closing Date, (y) three percent (3.0%) for the second year following the Closing Date and (z) two percent (2.0%) thereafter. The Prepayment Fee in respect of Term Loan Tranche 4 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) four percent (4.0%) for the first year following the Term Loan Tranche 4 Funding Date, (y) three percent (3.0%) for the second year following the Term Loan Tranche 4 Funding Date and (z) two percent (2.0%) thereafter. The Prepayment Fee in respect of Term Loan Tranche 5 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) four percent (4.0%) for the first year following the Term Loan Tranche 5 Funding Date, (y) three percent (3.0%) for the second year following the Term Loan Tranche 5 Funding Date and (z) two percent (2.0%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate). All fees payable pursuant to this paragraph shall be deemed fully earned and non-refundable as of the Closing Date.

Appears in 2 contracts

Samples: Credit and Security Agreement (Aziyo Biologics, Inc.), Credit and Security Agreement (Aziyo Biologics, Inc.)

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Prepayment Fee. If any advance under the Term Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by Borrowers, by reason of the occurrence of an Event of Default or the acceleration of the Term Loan, or otherwise), or if the Term Loan shall become accelerated and due and payable in full, or if the Lenders’ funding obligations in respect of any unfunded portion of the Term Loan shall terminate prior to the Maturity Date, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of each of Term Loan Tranche 11 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) three percent (3.0%) for the first year following the Closing Date, (y) two percent (2.0%) for the second year following the Closing Date and (z) one percent (1.0%) thereafter. The Prepayment Fee in respect of each of Term Loan Tranche 2 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) three percent (3.0%) for the first year following the date on which the Term Loan Tranche 2 is funded, (y) two percent (2.0%) for the second year following the date on which the Term Loan Tranche 2 is funded and (z) one percent (1.0%) thereafter. The Prepayment Fee in respect of each of Term Loan Tranche 3 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: ((x) four percent (4.0%) for the first year following the Closing Date, (y) three percent (3.0%) for the second first year following the Closing Date and date on which the Term Loan Tranche 3 is funded, (zy) two percent (2.0%) thereafter. The Prepayment Fee in respect of Term Loan Tranche 4 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) four percent (4.0%) for the first year following the Term Loan Tranche 4 Funding Date, (y) three percent (3.0%) for the second year following the date on which the Term Loan Tranche 4 Funding Date 3 is funded and (z) two one percent (2.0%) thereafter. The Prepayment Fee in respect of Term Loan Tranche 5 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) four percent (4.0%) for the first year following the Term Loan Tranche 5 Funding Date, (y) three percent (3.0%) for the second year following the Term Loan Tranche 5 Funding Date and (z) two percent (2.01.0%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate). All fees payable pursuant to this paragraph shall be deemed fully earned and non-refundable as of the Closing Date.

Appears in 1 contract

Samples: Credit and Security Agreement (Novadaq Technologies Inc)

Prepayment Fee. If any advance under the Term Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by Borrowers, by reason of the occurrence of an Event of Default or the acceleration of the Term Loan, or otherwise), or if the Term Loan shall become accelerated and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of each of Term Loan Tranche 1, Term Loan Tranche 2 or Term Loan Tranche 3 1 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: ((x) four percent (4.0%) for the first year following the Closing Date, (yw) three percent (3.0%) for the first year following the Second Amendment Effective Date, (x) two percent (2.0%) for the second year following the Closing Second Amendment Effective Date, (y) one percent (1.0%) for the third year following the Second Amendment Effective Date and (z) two zero percent (2.00.0%) thereafter. The Prepayment Fee in respect of each advance of Term Loan Tranche 4 2 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) four percent (4.0%) for the first year following the Term Loan Tranche 4 Funding Date, (yw) three percent (3.0%) for the second first year following the applicable Term Loan Tranche 4 2 Funding Date and Date, (zx) two percent (2.0%) thereafter. The Prepayment Fee in respect of Term Loan Tranche 5 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) four percent (4.0%) for the first year following the Term Loan Tranche 5 Funding Date, (y) three percent (3.0%) for the second year following the applicable Term Loan Tranche 5 2 Funding Date, (y) one percent (1.0%) for the third year following the applicable Term Loan Tranche 2 Funding Date and (z) two zero percent (2.00.0%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate). All fees payable pursuant to this paragraph shall be deemed fully earned and non-refundable as of the Closing Date.

Appears in 1 contract

Samples: Credit and Security Agreement (Accuray Inc)

Prepayment Fee. If any advance under the Term Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by BorrowersBorrower, by mandatory prepayment by Borrower, by reason of the occurrence of an Event of Default or the acceleration of the Term Loan, or otherwise), or if the Term Loan shall become accelerated (including any automatic acceleration due to the occurrence of an Event of Default described in Section 10.1(f)) or otherwise) and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this AgreementLenders, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of each of the Term Loan Tranche 11 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (v) [***] percent ([***]%) for the first year following the Closing Date, (w) [***] percent ([***]%) for the second year following the Closing Date, (x) [***] percent ([***]%) for the third year following the Closing Date, (y) [***] percent ([***]%) for the fourth year following the Closing Date, and (z) [***] percent ([***]%) thereafter but prior to the Maturity Date. The Prepayment Fee in respect of the Term Loan Tranche 2 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (v) [***] percent ([***]%) for the first year following the Closing Date, (w) [***] percent ([***]%) for the second year following the Closing Date, (x) [***] percent ([***]%) for the third year following the Closing Date, (y) [***] percent ([***]%) for the fourth year following the Closing Date and (z) [***] percent ([***]%) thereafter but prior to the Maturity Date. The Prepayment Fee in respect of the Term Loan Tranche 3 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: ((xv) four [***] percent (4.0[***]%) for the first year following the Closing Date, (yw) three [***] percent (3.0[***]%) for the second year following the Closing Date, (x) [***] percent ([***]%) for the third year following the Closing Date, (y) [***] percent ([***]%) for the fourth year following the Closing Date and (z) two [***] percent (2.0[***]%) thereafterthereafter but prior to the Maturity Date. The Prepayment Fee in respect of the Term Loan Tranche 4 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (xv) four [***] percent (4.0[***]%) for the first year following the Term Loan Tranche 4 Funding Closing Date, (yw) three [***] percent (3.0[***]%) for the second year following the Term Loan Tranche 4 Funding Closing Date, (x) [***] percent ([***]%) for the third year following the Closing Date, (y) [***] percent ([***]%) for the fourth year following the Closing Date and (z) two [***] percent (2.0[***]%) thereafter. The Prepayment Fee in respect of Term Loan Tranche 5 shall be equal thereafter but prior to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) four percent (4.0%) for the first year following the Term Loan Tranche 5 Funding Maturity Date, (y) three percent (3.0%) for the second year following the Term Loan Tranche 5 Funding Date and (z) two percent (2.0%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in part or in full as a result of a refinancing of the Term Loans in part or in full prior to the Maturity Date by the Lenders or their Affiliates (provided that nothing herein shall require any Lender to so consent to refinancing the Term Loans). All fees payable pursuant to this paragraph shall be deemed fully earned and non-refundable as of the Closing Date.

Appears in 1 contract

Samples: Credit, Security and Guaranty Agreement (Cerus Corp)

Prepayment Fee. If any advance under the Term Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by Borrowers, by reason of the occurrence of an Event of Default or the acceleration of the Term Loan, or otherwise), or if the Term Loan shall become accelerated and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of each of Term Loan Tranche 1, Term Loan Tranche 2 or Term Loan Tranche 3 1 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: ((xw) four three percent (4.03.0%) for the first year following the Closing Date, (yx) three two percent (3.02.0%) for the second year following the Closing Date, (y) one percent (1.0%) for the third year following the Closing Date and (z) two zero percent (2.00.0%) thereafter. The Prepayment Fee in respect of each of Term Loan Tranche 4 2 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (xw) four three percent (4.03.0%) for the first year following the Term Loan Tranche 4 2 Funding Date, (yx) three two percent (3.02.0%) for the second year following the Term Loan Tranche 4 2 Funding Date, (y) one percent (1.0%) for the third year following the Term Loan Tranche 2 Funding Date and (z) two zero percent (2.0%) thereafter. The Prepayment Fee in respect of Term Loan Tranche 5 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) four percent (4.0%) for the first year following the Term Loan Tranche 5 Funding Date, (y) three percent (3.0%) for the second year following the Term Loan Tranche 5 Funding Date and (z) two percent (2.00.0%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate). All fees payable pursuant to this paragraph shall be deemed fully earned and non-refundable as of the Closing Date.

Appears in 1 contract

Samples: Credit and Security Agreement (Accuray Inc)

Prepayment Fee. If any advance under the Term Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by Borrowers, by reason of the occurrence of an Event of Default or the acceleration of the Term Loan, or otherwise), or if the Term Loan shall become accelerated and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of each of the Term Loan Tranche 1, 1 and the Term Loan Tranche 2 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (w) three percent (3.0%) for the first year following the Third Amendment Effective Date, (x) two percent (2.0%) for the second year following the Third Amendment Effective Date, (y) one percent (1.0%) thereafter. The Prepayment Fee in respect of the Term Loan Tranche 3 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: ((x) four percent (4.0%) for the first year following the Closing Date, (yw) three percent (3.0%) for the second first year following the Closing Date and Fourth Amendment Effective Date, (zx) two percent (2.0%) thereafter. The Prepayment Fee in respect of Term Loan Tranche 4 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) four percent (4.0%) for the first year following the Term Loan Tranche 4 Funding Date, (y) three percent (3.0%) for the second year following the Term Loan Tranche 4 Funding Date and (z) two percent (2.0%) thereafter. The Prepayment Fee in respect of Term Loan Tranche 5 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) four percent (4.0%) for the first year following the Term Loan Tranche 5 Funding Fourth Amendment Effective Date, (y) three one percent (3.0%) for the second year following the Term Loan Tranche 5 Funding Date and (z) two percent (2.01.0%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate). All fees payable pursuant to this paragraph shall be deemed fully earned and non-refundable as of the Closing DateDate or, if later, on as of the date the applicable Term Loan was funded.

Appears in 1 contract

Samples: Credit and Security Agreement (Accuray Inc)

Prepayment Fee. If any advance under the Term Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by Borrowers, by reason of the occurrence of an Event of Default or the acceleration of the Term Loan, or otherwise), or if the Term Loan shall become accelerated and due and payable in full, or if the Lenders’ funding obligations in respect of any unfunded portion of the Term Loan shall terminate prior to the Maturity Date, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of each of Term Loan Tranche 1, Term Loan Tranche 2 or Term Loan Tranche 3 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: ((x) four percent (4.0%) for the first year following the Closing Date, (y) three percent (3.0%) for the second year following the Closing Date and (z) two percent (2.0%) thereafter. The Prepayment Fee in respect of Term Loan Tranche 4 1 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) four percent (4.0%) for if such prepayment occurs on or prior to the first year following anniversary of the Term Loan Tranche 4 Funding Closing Date, (y) three percent (3.0%) for if such prepayment occurs after the first anniversary of the Closing Date but on or prior to the second year following anniversary of the Term Loan Tranche 4 Funding Closing Date and (z) two percent (2.0%) thereafterif such prepayment occurs after the second anniversary of the Closing Date and prior to the Maturity Date. The Prepayment Fee in respect of each of Term Loan Tranche 5 2 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) four percent (4.0%) for if such prepayment occurs on or prior to the first year following anniversary of the Term Loan Tranche 5 Funding Closing Date, (y) three percent (3.0%) for if such prepayment occurs after the first anniversary of the Closing Date but on or prior to the second year following anniversary of the Term Loan Tranche 5 Funding Closing Date and (z) two percent (2.0%) thereafterif such prepayment occurs after the second anniversary of the Closing Date and prior to the Maturity Date. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate). All fees payable pursuant to this paragraph shall be deemed fully earned and non-refundable as of the Closing Date.

Appears in 1 contract

Samples: Credit and Security Agreement (Invuity, Inc.)

Prepayment Fee. If any advance under the Term Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary or mandatory prepayment by BorrowersBorrower, by reason of the occurrence of an Event of Default or the acceleration of the Term Loan, or otherwise), or if the Term Loan shall become accelerated (including any automatic acceleration due to the occurrence of an Event of Default described in Section 10.1(f)) or otherwise) and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of each of Term Loan Tranche 1, Term Loan Tranche 2 or Term Loan Tranche 3 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: ((x) four percent (4.0%) for the first year following the Closing Date, (y) three percent (3.0%) for the second year following the Closing Date and (z) two percent (2.0%) thereafter. The Prepayment Fee in respect of Term Loan Tranche 4 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) four percent (4.04.00%) for the first year following the Term Loan Tranche 4 Funding Fifth Amendment Effective Date, (y) three percent (3.03.00%) for the second year following the Term Loan Tranche 4 Funding Date Fifth Amendment Effective Date, and (z) two percent (2.0%) thereafter. The Prepayment Fee in respect of Term Loan Tranche 5 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) four percent (4.0%) for the first year following the Term Loan Tranche 5 Funding Date, (y) three percent (3.0%) for the second year following the Term Loan Tranche 5 Funding Date and (z) two percent (2.02.00%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate), (y) required to be made pursuant to Section 6(a) of the Fourth Amendment, or (z) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans in full prior to the Maturity Date by Agent or an Affiliate of Agent. All fees payable pursuant to this paragraph shall be deemed fully fully-earned and non-refundable as of the Closing Date.

Appears in 1 contract

Samples: Credit and Security Agreement (Alpha Teknova, Inc.)

Prepayment Fee. If any advance under the Term Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by Borrowers, by reason of the occurrence of an Event of Default or the acceleration of the Term Loan, or otherwise), or if the Term Loan shall become accelerated and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of each of Term Loan Tranche 1, Term Loan Tranche 2 or Term Loan Tranche 3 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: ((x) four percent (4.0%) for the first year following the Closing Date, (y) three percent (3.0%) for the second first year following the Closing Second Amendment Effective Date and (zy) two percent (2.0%) thereafter. The Prepayment Fee in respect of Term Loan Tranche 4 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) four three percent (4.03.0%) for the first year following the Term Loan Tranche 4 Funding Date, (y) three percent (3.0%) for the second year following the Term Loan Tranche 4 Funding Second Amendment Effective Date and (zy) two percent (2.0%) thereafter. The Prepayment Fee in respect of Term Loan Tranche 5 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) four three percent (4.03.0%) for the first year following the Term Loan Tranche 5 Funding Date, (y) three percent (3.0%) for the second year following the Term Loan Tranche 5 Funding Second Amendment Effective Date and (zy) two percent (2.0%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate). All fees payable pursuant to this paragraph shall be deemed fully earned and non-refundable as of the Closing Date.

Appears in 1 contract

Samples: Credit and Security Agreement (Aziyo Biologics, Inc.)

Prepayment Fee. If any advance under the Term Loan is prepaid at any timetime prior to the Maturity Date, in whole or in part, for any reason (whether by voluntary prepayment by BorrowersBorrower, by reason of the occurrence of an Event of Default or the acceleration of the Term Loan, or otherwise), or if the Term Loan shall become accelerated and due and payable in fullfull prior to the Maturity Date, Borrowers Borrower shall pay to Agent, for the benefit of all Lenders committed to make who have made such tranche of Term Loan advancesLoans, as compensation for the costs of such Lenders making funds available to Borrowers Borrower under this the Credit Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsectionparagraph. The Prepayment Fee in respect of each of the Term Loan Tranche 1, Term Loan Tranche 2 or Term Loan Tranche 3 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: ((x) four percent (4.0%) for the first year following the Closing Date, (y) three percent (3.0%) for the second year following the Closing Date and (z) two percent (2.0%) thereafter. The Prepayment Fee in respect of Term Loan Tranche 4 1 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) four percent (4.0%) for the first year following the Term Loan Tranche 4 Funding Closing Date, (y) three percent (3.0%) for the second year following the Term Loan Tranche 4 Funding Closing Date and (z) two one percent (2.01.0%) thereafterthereafter (but prior to the Maturity Date). The Prepayment Fee in respect of the Term Loan Tranche 5 2 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) four percent (4.0%) for the first year following the date on which the Term Loan Tranche 5 Funding Date2 is funded, (y) three percent (3.0%) for the second year following the date on which the Term Loan Tranche 5 Funding Date 2 is funded and (z) two one percent (2.01.0%) thereafterthereafter (but prior to the Maturity Date). The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers Borrower if such payments were required by Agent to be made pursuant to Section 2.1(a)(ii)(BSections 2.1(a)(ii)(A) subpart (ior 2.1(a)(ii)(B)(i)-(iii) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding of the Maximum Lawful Rate)Credit Agreement. All fees payable pursuant to this paragraph shall be deemed fully earned on the Closing Date and non-refundable as of the Closing Datewhen paid.

Appears in 1 contract

Samples: Aptevo Therapeutics Inc.

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Prepayment Fee. If any advance under the Term Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by Borrowers, by reason of the occurrence of an Event of Default or the acceleration of the Term Loan, or otherwise), or if the Term Loan shall become accelerated and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of each of Term Loan Tranche 1, Term Loan Tranche 2 or Term Loan Tranche 3 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: ((x) four percent (4.0%) for the first year following the Closing Date, (y) three percent (3.0%) for the second year following the Closing Date and (z) two percent (2.0%) thereafter. The Prepayment Fee in respect of Term Loan Tranche 4 1 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) four three percent (4.03.0%) for the first year following the Term Loan Tranche 4 Funding Closing Date, (y) three two percent (3.02.0%) for the second year following the Term Loan Tranche 4 Funding Closing Date and (z) two one percent (2.01.0%) thereafter. The Prepayment Fee in respect of each of Term Loan Tranche 5 2 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) four three percent (4.03.0%) for the first year following the date on which the Term Loan Tranche 5 Funding Date2 is funded, (y) three two percent (3.02.0%) for the second year following the date on which the Term Loan Tranche 5 Funding Date 2 is funded and (z) two one percent (2.01.0%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate). All fees payable pursuant to this paragraph subsection shall be deemed fully earned and non-refundable as of the Closing Date.

Appears in 1 contract

Samples: Credit and Security Agreement (PTC Therapeutics, Inc.)

Prepayment Fee. If any advance under the Term Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by BorrowersBorrower, by mandatory prepayment by Borrower, by reason of the occurrence of an Event of Default or the acceleration of the Term Loan, or otherwise), or if the Term Loan shall become accelerated (including any automatic acceleration due to the occurrence of an Event of Default described in Section 10.1(f)) or otherwise) and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this AgreementLenders, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of each of the Term Loan Tranche 1, Term Loan Tranche 2 or Term Loan Tranche 3 1 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: ((xv) four [***] percent (4.0[***]%) for the first year following the Closing Date, (yw) three [***] percent (3.0[***]%) for the second year following the Closing Date, (x) [***] percent ([***]%) for the third year following the Closing Date, (y) [***] percent ([***]%) for the fourth year following the Closing Date and (z) two and zero percent (2.00.0%) thereafter. The Prepayment Fee in respect of the Term Loan Tranche 4 2 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (xv) four [***] percent (4.0[***]%) for the first year following the Term Loan Tranche 4 2 Funding Date, (yw) three [***] percent (3.0[***]%) for the second year following the Term Loan Tranche 4 2 Funding Date, (x) [***] percent ([***]%) for the third year following the Term Loan Tranche 2 Funding Date, (y) [***] percent ([***]%) for the fourth year following the Term Loan Tranche 2 Funding Date and (z) two and zero percent (2.00.0%) thereafter. The Prepayment Fee in respect of the Term Loan Tranche 5 3 shall be equal to an amount MidCap / Cerus / Credit, Security and Guaranty Agreement (Term Loan) [***] = Certain Confidential Information Omitted \DC - 036639/000093 - 13934788 v5 202344533 v5 determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (xv) four [***] percent (4.0[***]%) for the first year following the Term Loan Tranche 5 3 Funding Date, (yw) three [***] percent (3.0[***]%) for the second year following the Term Loan Tranche 5 3 Funding Date, (x) [***] percent ([***]%) for the third year following the date on which the Term Loan Tranche 3 Funding Date, (y) [***] percent ([***]%) for the fourth year following the Term Loan Tranche 3 Funding Date and (z) two and zero percent (2.00.0%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans in full prior to the Maturity Date by all of the Lenders (provided that nothing herein shall require any Lender to so consent to refinancing the Term Loans). All fees payable pursuant to this paragraph shall be deemed fully earned and non-refundable as of the Closing Date.

Appears in 1 contract

Samples: Credit, Security and Guaranty Agreement (Cerus Corp)

Prepayment Fee. If any advance under the Term Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by BorrowersBorrower, by mandatory prepayment by Borrower, by reason of the occurrence of an Event of Default or the acceleration of the Term Loan, or otherwise), or if the Term Loan shall become accelerated (including any automatic acceleration due to the occurrence of an Event of Default described in Section 10.1(f)) or otherwise) and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this AgreementLenders, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of each of the Term Loan Tranche 11 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (w) [***] percent ([***] %) for the first year following the Closing Date, (x) [***] percent ([***] %) for the second year following the Closing Date, (y) [***] percent ([***]%) for the third year following the Closing Date, and (z) [***] percent ([***]%) thereafter. The Prepayment Fee in respect of the Term Loan Tranche 2 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (w) [***] percent ([***] %) for the first year following the Closing Date, (x) [***] percent ([***] %) for the second year following the Closing Date, (y) [***] percent ([***] %) for the third year following the Closing Date and (z) and [***] percent ([***]%) thereafter. The Prepayment Fee in respect of the Term Loan Tranche 3 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: ((xw) four [***] percent (4.0[***]%) for the first year following the Closing Date, (yx) three [***] percent (3.0[***]%) for the second year following the Closing Date, (y) [***] percent ([***]%) MidCap / Cerus / A&R Credit, Security and Guaranty Agreement (Term Loan) [***] = Certain Confidential Information Omitted for the third year following the Closing Date and (z) two and [***] percent (2.0[***]%) thereafter. The Prepayment Fee in respect of the Term Loan Tranche 4 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (xw) four [***] percent (4.0[***]%) for the first year following the Term Loan Tranche 4 Funding Closing Date, (yx) three [***] percent (3.0[***] %) for the second year following the Term Loan Tranche 4 Funding Closing Date, (y) [***] percent ([***]%) for the third year following the Closing Date and (z) two and [***] percent (2.0%) thereafter. The Prepayment Fee in respect of Term Loan Tranche 5 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) four percent (4.0%) for the first year following the Term Loan Tranche 5 Funding Date, (y) three percent (3.0%) for the second year following the Term Loan Tranche 5 Funding Date and (z) two percent (2.0[***]%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans in full prior to the Maturity Date by all of the Lenders (provided that nothing herein shall require any Lender to so consent to refinancing the Term Loans). All fees payable pursuant to this paragraph shall be deemed fully earned and non-refundable as of the Closing Date.

Appears in 1 contract

Samples: Credit, Security and Guaranty Agreement (Cerus Corp)

Prepayment Fee. If any advance under the Term Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by Borrowers, by reason of the occurrence of an Event of Default or the acceleration of the Term Loan, or otherwise), or if the Term Loan shall become accelerated and due and payable in full, or if the Lenders’ funding obligations in respect of any unfunded portion of the Term Loan shall terminate prior to the Maturity Date, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advancesLenders, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of each of the Term Loan Tranche 1, Term Loan Tranche 2 or Term Loan Tranche 3 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: ((x) four percent (4.0%) for the first year following the Closing Date, (y) three percent (3.0%) for the second year following the Closing Date and (z) two percent (2.0%) thereafter. The Prepayment Fee in respect of Term Loan Tranche 4 1 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) four three percent (4.03.0%) for the first year following the Term Loan Tranche 4 Funding Closing Date, (y) three two percent (3.02.0%) for the second year following the Term Loan Tranche 4 Funding Closing Date and (z) two one percent (2.01.0%) thereafter. The Prepayment Fee in respect of the Term Loan Tranche 5 2 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) four three percent (4.03.0%) for the first year following the date on which the Term Loan Tranche 5 Funding Date2 is funded, (y) three two percent (3.02.0%) for the second year following the date on which the Term Loan Tranche 5 Funding Date 2 is funded and (z) two one percent (2.01.0%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate). All fees payable pursuant to this paragraph shall be deemed fully earned and non-refundable as of the Closing Date.

Appears in 1 contract

Samples: Credit, Security and Guaranty Agreement (Oxford Immunotec Global PLC)

Prepayment Fee. If any advance under the Term Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by BorrowersBorrower, by mandatory prepayment by Borrower (other than a mandatory prepayment described in the second to last sentence of this Section 2.2(c)), by reason of the occurrence of an Event of Default or the acceleration of the Term Loan, or otherwise), or if the Term Loan shall become accelerated (including any automatic acceleration due to the occurrence of an Event of Default described in Section 10.1(f)) or otherwise) and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of each of Term Loan Tranche 1, Term Loan Tranche 2 or Term Loan Tranche 3 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: ((x) four percent (4.0%) for the first year following the Closing Date, (y) three percent (3.0%) for the second year following the Closing Date and (z) two percent (2.0%) thereafter. The Prepayment Fee in respect of Term Loan Tranche 4 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) four three percent (4.03.00%) for the first year following the Term Loan Tranche 4 Funding Closing Date, (y) three two percent (3.02.00%) for the second year following the Term Loan Tranche 4 Funding Date and (z) two percent (2.0%) thereafter. The Prepayment Fee in respect of Term Loan Tranche 5 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) four percent (4.0%) for the first year following the Term Loan Tranche 5 Funding Closing Date, and (y) three one percent (3.0%) for the second year following the Term Loan Tranche 5 Funding Date and (z) two percent (2.01.00%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate), or in connection with any acceleration of the Obligations based solely upon a breach of the covenant set forth in Section 6.1 for the period ended December 31, 2022. All fees payable pursuant to this paragraph shall be deemed fully earned as of the Closing Date and non-refundable as of the Closing Dateonce paid.

Appears in 1 contract

Samples: Credit and Security Agreement (TELA Bio, Inc.)

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