Anniversary Fees. Fully earned, non-refundable anniversary fees (collectively, the “Anniversary Fees”) of Thirty Seven Thousand Five Hundred Dollars ($37,500.00) which Anniversary Fees shall be earned as of the Effective Date and shall be due and payable on an annual basis on the earlier to occur of (i) December 4th of each year following the Effective Date (including the year in which the Effective Date occurs), (ii) the occurrence of an Event of Default, or (iii) the termination of this Agreement or the Revolving Line;
Anniversary Fees. From and after the Effective Date and until the Termination Date, the Borrowers shall pay to the Administrative Agent for the account of the Lenders, in accordance with their Pro Rata Shares, (i) a non-refundable anniversary fee (the "18-Month Anniversary Fee") equal to 1.00% of the principal amount of the Term Loan B outstanding on the date that is 18 months after the Effective Date and (ii) a non-refundable anniversary fee (the "30-Month Anniversary Fee", together with the 18-Month Anniversary Fee, the "Anniversary Fees") equal to 1.00% of the principal amount of the Term Loan B outstanding on the date that is 30 months after the Effective Date. The 18-Month Anniversary Fee shall be payable on the 18-month anniversary of the Effective Date. The 30-Month Anniversary Fee shall be payable on the 120535197v14
Anniversary Fees. For each twelve (12) month anniversary of the Effective Date occurring prior to the Revolving Line Maturity Date, a fully earned, non-refundable anniversary fee (the “Anniversary Fees”) equal to one-quarter of one percent (0.25%) of the Revolving Line shall be fully earned as of the Effective Date and is due and payable on the earlier to occur of (i) each such twelve (12) month anniversary of the Effective Date, (ii) the termination of this Agreement, or (iii) the occurrence of an Event of Default; and
Anniversary Fees. For each one (1) year anniversary of the Third LMA Effective Date occurring prior to the Revolving Line Maturity Date, Borrower shall pay to Bank a fully earned, non-refundable anniversary fee of Twenty Thousand Dollars ($20,000.00) (each, an “Anniversary Fee” and, collectively, the “Anniversary Fees”). Each Anniversary Fee shall be fully earned on the Third LMA Effective Date and shall be due and payable on the earlier to occur of (i) such one (1) year anniversary of the Third LMA Effective Date and (ii) the termination of this Agreement;” 4 The Loan Agreement shall be amended by deleting the following text, appearing in Section 5.3 thereof:
Anniversary Fees. (i) If the Extension Election shall not have occurred, then the Companies shall pay to the Agent, for the ratable benefit of the Banks:
(A) on June 30, 2002, a fee equal to 1.00% of the Total Commitments on such date; and
(B) on June 30, 2003, a fee equal to 4.00% of the Total Commitments on such date.
(ii) If the Extension Election shall have occurred, then the Companies shall pay to the Agent, for the ratable benefit of the Banks, such fees as are set forth in the Letter Agreement.
Anniversary Fees. Upon the occurrence of the Extension Election, the Companies shall pay to the Agent, for the ratable benefit of the Banks, fees as follows:
(a) on June 30, 2002, a fee equal to 1.00% of the Total Commitments on such date;
(b) on December 31, 2002, a fee equal to 1.00% of the Total Commitments on such date;
(c) on March 31, 2003, a fee equal to 1.00% of the Total Commitments on such date;
(d) on June 30, 2003, a fee equal to 2.00% of the Total Commitments on such date;
(e) on December 31, 2003, a fee equal to 1.00% of the Total Commitments on such date;
(f) on March 31, 2004, a fee equal to 1.00% of the Total Commitments on such date;
(g) on June 30, 2004, a fee equal to 2.00% of the Total Commitments on such date;
(h) on December 31, 2004, a fee equal to 1.00% of the Total Commitments on such date;
(i) on March 31, 2005, a fee equal to 1.00% of the Total Commitments on such date; and
(j) on June 30, 2005, a fee equal to 1.00% of the Total Commitments on such date.
Anniversary Fees. Section 3.4 of Schedule 1 of the Loan Agreement is added to read in full as follows:
Anniversary Fees. (a) Domestic Anniversary Fee. 1.0% of the Domestic Credit Limit, payable on each anniversary of the date hereof, commencing with June 11, 2007; provided, that, if Borrower’s Tangible Net Worth is greater than $35,000,000 on any such anniversary date, such amount shall be reduced to 0.75% of the Domestic Credit Limit. This fee shall be nonrefundable.
(b) EXIM Anniversary Fee: 1.50% of the EXIM Credit Limit, payable on each anniversary of the date hereof, commencing with June 11, 2007; provided, that, if Borrower’s Tangible Net Worth is greater than $35,000,000 on any such anniversary date, such amount shall be reduced to 1.25% of the EXIM Credit Limit. This fee shall be nonrefundable.”
Anniversary Fees. The Borrower shall pay to the Administrative Agent for the account of the Lenders, in accordance with a written agreement among such Lenders, the following non-refundable anniversary fees (each, an "Anniversary Fee"): (i) $250,000, which Anniversary Fee shall be fully earned as of the Effective Date and which shall be due and payable on the earliest of (A) the first anniversary of the Effective Date, (B) the date on which the Obligations are accelerated, or (C) the date on which all of the Obligations are paid in full and the Commitments are terminated, (ii) $187,500, which Anniversary Fee shall be fully earned and due and payable on the earliest of (A) the second anniversary of the Effective Date, or (B) the date on which the Obligations are accelerated, and (iii) $187,500, which Anniversary Fee shall be fully earned and due and payable on the earliest of (A) the third anniversary of the Effective Date, or (B) the date on which the Obligations are accelerated.
Anniversary Fees. Company shall pay to Holder a cash fee equal to 1.25% of the aggregate principal amount of the Advances (as defined in the Loan Agreement) that is outstanding on each anniversary of the Issue Date (an “Anniversary Fee”) if (i) the average closing price of the Company’s common stock for the thirty (30) day period prior to such anniversary date is less than $2.00 or (ii) the closing price of the Company’s common stock for the date immediately prior to such anniversary date is less than $2.00. Each Anniversary Fee is earned as of the anniversary date, and the aggregate sum of the earned Anniversary Fees are payable on the date the Buyout Fee becomes due and payable.
