Amendment and Waiver Fee. In consideration for the amendments and waivers provided herein, the Borrower shall pay to the Lender a non-refundable fee in the amount of $25,000 (the “Amendment Fee”), which fee shall be fully earned on the date hereof and payable in three (3) installments as follows: $5,000 on December 1, 2006; $10,000 on January 2, 2007; and $10,000 on February 6, 2007. The failure of the Borrower to pay any installment of the Amendment Fee when due shall constitute an Event of Default.
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Samples: Credit and Security Agreement (Infotech Usa Inc), Credit and Security Agreement (Applied Digital Solutions Inc)
Amendment and Waiver Fee. In consideration for the amendments and waivers waiver provided herein, the Borrower shall pay to the Lender a non-refundable fee in the amount of $25,000 (the “Amendment Fee”), which fee shall be fully earned on the date hereof and shall be payable in three (3) installments as follows: $5,000 on December 1, 2006; (a) $10,000 on January 2, 20072006; and (b) $10,000 on February 6, 20072006; and (c) $5,000 on March 6, 2006. The failure of the Borrower to pay any installment of the Amendment Fee when due shall constitute an Event of Default.
Appears in 2 contracts
Samples: Second Amendment and Waiver (Applied Digital Solutions Inc), Second Amendment and Waiver (Infotech Usa Inc)
Amendment and Waiver Fee. In consideration for the amendments and waivers provided herein, the Borrower shall pay to the Lender a non-refundable fee in the amount of $25,000 40,000 (the “Amendment Fee”), which fee shall be fully earned on the date hereof and shall be payable in three four (34) equal installments as follows: $5,000 on December 1, 2006; of $10,000 on each of January 23, 2007; 2005, February 7, 2005, March 7, 2005 and $10,000 on February 6April 4, 20072005. The failure of the Borrower to pay any installment of the Amendment Fee when due shall constitute an Event of Default.
Appears in 1 contract
