Closing Commitment Fee Sample Clauses
A Closing Commitment Fee clause defines the fee that a borrower must pay to a lender at the closing of a loan transaction as compensation for the lender's commitment to provide the agreed financing. This fee is typically calculated as a percentage of the total loan amount and is due at the time the loan is finalized, regardless of whether the borrower ultimately draws down the full amount. The core function of this clause is to compensate the lender for reserving funds and committing to the loan, ensuring the lender is rewarded for making the capital available even if the borrower does not utilize the entire facility.
Closing Commitment Fee. The Company shall issue to the Purchaser 1,650,000 shares of the Company's Common Stock (the "Initial Commitment Fee Shares") as a closing commitment fee, which fee shall be due and payable in full and such shares shall be issued not later than five (5) days after the Original Closing Date. The Initial Commitment Fee Shares shall be evidenced by an original share certificate duly executed and validly issued and delivered by the Company to the Purchaser, representing 1,650,000 shares of Common Stock of the Company. In connection with the closing of the Second Subordinated Note, the Company hereby covenants and agrees that it shall issue to the Purchaser a total of 667,905 shares of the Company’s Common Stock (the “Second Subordinated Note Fee Shares”), as a closing commitment fee, which fee shall be due and payable in full as follows: 296,984 of such shares shall be issued and delivered by Company to Purchaser on the Second Closing Date and 370,921 of such shares shall be issued and delivered by Company to Purchaser not later than three (3) Business Days after the earlier of (i) approval by the shareholders of the Company of the issuance of the Warrant shares and the Second Subordinated Note Fee Shares to the Purchaser or (ii) such time as NASDAQ listing requirements no longer require such approval. Purchaser acknowledges that the Company may not issue additional shares of Common Stock to Purchaser unless the Company has obtained such stockholder approval pursuant to NASDAQ Marketplace Rule 5635(d), or a waiver from the NASDAQ Stock Market of the Company’s compliance with Rule 5635(d), and that Amendment 1 to the Warrant Agreement caps the issuance of the Company’s Common Stock to Purchaser at 1,946,985 shares, which represents 19.9% of the Company’s outstanding shares of Common Stock on January 26, 2017. The Second Subordinated Note Fee Shares shall be evidenced by one or more original share certificates duly executed and validly issued and delivered by the Company to the Purchaser, representing an aggregate amount of 667,905 shares of Common Stock of the Company. In the event the Company has not fully and irrevocably discharged all of the Obligations arising under the Second Subordinated Note by the payment in full in cash on or prior to July 16, 2018 (the “Fee Trigger Date”), the Company shall issue to the Purchaser 200,000 shares of the Company’s Common Stock (the “Maturity Extension Fee Shares” and together with the Initial Commitment Fee Shares and th...
Closing Commitment Fee. On or before the Effective Date, the Borrower will pay to the Bank a non-refundable commitment fee in an amount equal to $52,500.00 (the “Closing Commitment Fee”).
Closing Commitment Fee. The Company shall issue to the Purchaser 1,650,000 shares of the Company's Common Stock (the "Commitment Fee Shares") as a closing commitment fee, which fee shall be due and payable in full and such shares shall be issued not later than five (5) days after the Closing Date. The Commitment Fee Shares shall be evidenced by an original share certificate duly executed, and validly issued and delivered by the Company to the Purchaser, representing 1,650,000 shares of Common Stock of the Company.
Closing Commitment Fee. A non-accountable fee of $5,000.00 shall be withheld from the Purchase Price by Buyer on the Closing Date to cover the Buyer’s accounting fees, legal fees, and other transactional costs incurred in connection with the Debenture contemplated by this Agreement. Further, the Company shall issue 100,000 shares of Restricted Stock (the “Commitment Shares”) on the Closing Date as follows: 50,000 of the Commitment Shares to Investments and 50,000 of the Commitment Shares to Buyer, as a commitment fee in connection with the issuance of the Debenture.
Closing Commitment Fee. The Borrower shall issue to the Lender 200,000 shares of Borrower’s Common Stock (the “Commitment Fee Shares”) as a closing commitment fee, which fee shall be due and payable in full and such shares shall be issued on the first to occur of (i) the Closing, (ii) five (5) days after the date the Borrower determines not to proceed with a financing with Lender on the terms and conditions provided in this Agreement, or (iii) March 31, 2015, if the Closing has not occurred by such date (except where the Closing has not occurred because Lender elects not to close for reasons other than not being entirely satisfied with its due diligence findings or it being unable to negotiate mutually acceptable definitive agreement with the Borrower).
Closing Commitment Fee. Borrower has paid Lender, and Lender acknowledges receipt of, the sum of $22,500.00, representing the closing/commitment fee due to Lender. The closing/commitment fee shall be deemed fully earned and non-refundable, upon the execution of this Agreement.