Commitment Fee; Warrant Sample Clauses

Commitment Fee; Warrant. (a) The Company shall tender to GYBL, as a commitment fee, an amount equal to 2% of the Aggregate Limit (the “Commitment Fee”), deliverable as set forth below. The Commitment Fee due upon each Draw Down may be paid in cash from the proceeds of such Draw Down or in freely tradeable Common Shares of the Company valued at the Daily Closing Price at the time of such Draw Down, at the option of the Company. The amount of the Commitment Fee due in each such installment shall be the product obtained by multiplying (i) the total amount of the Commitment Fee by (ii) the quotient derived by dividing (y) the value of Shares purchased pursuant to the applicable Draw Down by (z) the Aggregate Limit. To the extent that any amount of the Commitment Fee remains unpaid to GYBL following the date that is the one-year anniversary of the First Trading Day, the remaining amount shall become immediately due. For the avoidance of doubt, (1) the Commitment Fee shall be payable by the Company irrespective of whether any Draw Down Notices have been delivered by the Company in accordance herewith, and (2) no Commitment Fee shall be payable in the event that the Company does not achieve a Public Listing. (b) On the Effective Date, the Company shall make and execute a warrant granting GYBL the right to purchase Shares, a copy of which is attached hereto as Exhibit B (the “Warrant”) having an expiration date that is the third anniversary of the First Trading Day, granting GYBL the right to purchase, upon the terms set forth more fully therein, up to the number of Common Shares that is equal to 4.2% of the total number of the Common Shares outstanding immediately after the completion of the Public Listing (including any Common Shares issued pursuant to an over-allotment option), calculated on a fully diluted basis, at a strike price per Share equal to the closing bid price for such Common Shares on the Public Listing Date. On the first anniversary following the Public Listing Date (the “Adjustment Date”), if all or any portion of the Warrants remain unexercised and the average closing bid price of the Common Shares for the 10 Trading Days following the Adjustment Date (the “Current Trading Price”) is less than 90% of the then- current exercise price of the Warrants, the exercise price of such remaining Warrants shall adjust to 105% of the Current Trading Price. (c) Notwithstanding anything to the contrary stated herein, if the Purchaser determines in its reasonable discretion that the i...
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Commitment Fee; Warrant. In addition to the Closing Warrants, the Company shall issue to the Purchasers warrants exercisable from time to time within five years from the date of issuance (the "Commitment Fee Warrants") to purchase up to 2.0 million shares of Common Stock at an exercise price of $2.76 per share subject to adjustment as provided therein. The Commitment Fee Warrants shall vest as follows: (A) upon any Commitment Reduction, Purchasers' rights shall vest to acquire a number of shares of Common Stock calculated as follows: (x) two (2) million shares of Common Stock multiplied by (y) the quotient of the amount of the Commitment Reduction divided by $40.0 million, and (B) upon the expiration of the Commitment Period or a Vesting Event, Purchasers' rights shall vest to acquire the number of shares of Common Stock calculated as follows: (I) two (2) million shares of Common Stock multiplied by (II) the quotient obtained by dividing any unused portion of the Commitment Amount by $40,000,000. If the Commitment Period expires as a result of the Company's failure to cause the Registration Statement to be declared effective by the SEC by the Final Registration Date, the Commitment Fee Warrant shall be null and void.
Sample 1
Commitment Fee; Warrant. In consideration of making available the Line of Credit under this agreement, Borrower shall pay Lender in cash a one-time commitment fee equal to 2.0% of the Committed Amount (the “Commitment Fee”) and issue and deliver to Lender the Warrant.
Sample 1

Related to Commitment Fee; Warrant

  • Commitment Fees Accruing from the date hereof until the Expiration Date, the Borrower agrees to pay to the Administrative Agent for the account of each Lender, as consideration for such Lender’s Revolving Credit Commitment hereunder, a nonrefundable commitment fee (the “Commitment Fee”) equal to the Applicable Commitment Fee Rate (computed on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed) on the average daily difference between the amount of (a) such Lender’s Revolving Credit Commitment as the same may be constituted from time to time and (b) such Lender’s Revolving Exposure (for purposes of this computation, Swing Loans shall not be deemed to be borrowed amounts under its Revolving Credit Commitment); provided, however, that any Commitment Fee accrued with respect to the Revolving Credit Commitment of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such Commitment Fee shall otherwise have been due and payable by the Borrower prior to such time; and provided further that no Commitment Fee shall accrue with respect to the Revolving Credit Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. Subject to the proviso in the directly preceding sentence, all Commitment Fees shall be payable in arrears on each Payment Date.

  • Unused Commitment Fee Borrower shall pay to Bank a fee equal to ten-hundredths percent (0.10%) per annum (computed on the basis of a 360-day year, actual days elapsed) on the average daily unused amount of the Line of Credit, which fee shall be calculated on a calendar quarter basis by Bank and shall be due and payable by Borrower in arrears on the last day of each September, December, March and June.

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