Continuation Fee Clause Samples
A Continuation Fee clause defines a payment required to extend the duration of a service, agreement, or engagement beyond its original term. Typically, this fee becomes applicable if the client wishes to continue receiving services or maintain the contract after the initial period has expired, and it is often set at a predetermined rate or calculated based on ongoing work. The core function of this clause is to ensure that the service provider is compensated for continued work and to provide clear terms for extending the business relationship, thereby preventing disputes over additional compensation.
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Continuation Fee. The Borrower shall pay to the Agent, if applicable, the Continuation Fee (defined below) for the account of each Lender, pro rata according to the sum of such Lender's Revolving Committed Amount and the total outstanding principal amount of the Term Loans owed to such Lender (the "Credit Exposure") as of the applicable Fee Determination Date. As used herein, "Continuation Fee" shall mean a fee due and payable only if the Credit Party Obligations have not been paid in full on or before March 31, 1999, which fee shall equal (a) 0.25% of the Credit Exposure on the Fee Determination Date that occurs on March 31, 1999, plus (b) 0.50% of the Credit Exposure on each subsequent Fee Determination Date, which Continuation Fee shall be earned and payable on each Fee Determination Date, but payment shall be deferred until the date upon which the Credit Party Obligations are paid in full, or at final maturity of the Credit Party Obligations, whichever first occurs. As used herein, "Fee
Continuation Fee. The Borrower hereby promises to pay on February 1, 2005 to the Administrative Agent for the account of each Bank a continuation fee equal to .08% of the amount of such Bank's Commitment (whether used or unused) on such date.
Continuation Fee. At the times and in the amounts set forth below, the Borrowers shall pay to the Administrative Agent for the account of each Lender a fee (the "Continuation Fee"), on the amount of each Lender's Commitment as of the Closing Date. The Continuation Fee shall be a per annum rate equal to (i) in the event the Commitments are not terminated and the Obligations (other than contingent indemnification obligations) are not paid in full in cash by March 31, 2005, $1,135,406, (ii) in the event the Commitments are not terminated and the Obligations (other than contingent indemnification obligations) are not paid in full in cash by June 30, 2005, $227,081, (iii) in the event the Commitments are not terminated and the Obligations (other than contingent indemnification obligations) are not paid in full in cash by September 30, 2005, $227,081, and (iv) in the event the Commitments are not terminated and the Obligations (other than contingent indemnification obligations) are not paid in full in cash by January 2, 2006, $227,081. Such fees shall be fully earned as of the Closing Date and shall be due and payable as of the dates set forth in clauses (i) through (iv) above; provided, that such fees shall only be due and payable on each such date if the Commitments have not been terminated (unless terminated by operation of law) and the Obligations have not been paid in full in cash (other than contingent indemnification obligations) by such date.
Continuation Fee. On or before the [**] Business Day after the Effective Date, Amgen shall pay to Infinity a one-time, non-refundable license fee of Two Million Five Hundred Thousand Dollars ($2,500,000).
Continuation Fee. A non-refundable, non-creditable “Continuation Fee” in the applicable amount set forth in the table below based on the timing of such payment: If paid on or before March 31, 2010 $[***] If paid after March 31, 2010 but on or before July 1, 2010 $[***] If paid after July 1, 2010 but on or before October 1, 2010 $[***] If paid after October 1, 2010 $[***]
Continuation Fee. On the Restatement Date, the Company shall pay to the Agent for the benefit of the Lenders a fee equal to $100,000 as consideration for the continuation of the Loans under the terms and conditions of this Second Amended and Restated Floor Plan Credit Agreement.
Continuation Fee. In consideration of the Commitments of the Lenders hereunder, the Borrower agrees to pay to the Agent for the account of each Lender a fee (the "Continuation Fee"), which shall be earned, due and payable on the last day of each fiscal quarter of the Borrower if the Borrower's Obligations have not been repaid in full and cancellation of all Commitments has not occurred during such fiscal quarter, beginning on the last day of the fourth fiscal quarter in the year 1999. The Continuation Fee shall be 0.5% times the sum of (1) Revolving Commitments on the last day of such fiscal quarter, plus (2) the aggregate outstanding principal amount of the Tranche A Term Loan on the last day of such fiscal quarter, plus (3) the outstanding principal amount of the Tranche B Term Loan on the last day of such fiscal quarter. The Continuation Fee shall be allocated pro rata among the Lenders in accordance with Revolving Loans, Tranche A Term Loans, and Tranche B Term Loans outstanding as of the last day of such fiscal quarter.
9. Amendment to Section 3.13(a). Section 3.13(a) of the Existing Credit Agreement is amended in its entirety to read as follows:
Continuation Fee. If at any time on or after September 30, 2004, the Company does not have an executed contract for the sale of the Tools Business, with a scheduled closing date on or before the scheduled Maturity Date and in an amount sufficient to pay in full all obligations outstanding hereunder (a “Sufficient Sale Contract”), the Company shall pay to the Administrative Agent for the account of each Lender a continuation fee equal to the Continuation Fee Percentage on the amount of such Lender’s outstanding Loan on the date of the payment thereof. Such continuation fee shall be payable (a) on September 30, 2004 if the Company does not have a Sufficient Sale Contract on such date; and (b) if the Company has a Sufficient Sale Contract on September 30, 2004 but such contract is later terminated (for whatever reason), on the earlier of the date of such termination and the Maturity Date.
Continuation Fee. In consideration of ▇▇▇▇▇▇▇’▇ continuation of license rights granted under Section 2.1.1 and 2.1.2, a continuation fee in the amount of sixty-five million US dollars ($65,000,000) shall be due from ▇▇▇▇▇▇▇ to Geron upon ▇▇▇▇▇▇▇’▇ delivery of a Continuation Notification (or Geron’s deemed receipt thereof) pursuant to Section 2.1.8 (a) or (b) and payable within [*] ([*]) days thereafter. Notwithstanding the foregoing, such payment of sixty-five million US dollars ($65,000,000) shall be [*] (for clarity, [*] equals sixty-five million US dollars ($65,000,000)).
Continuation Fee. A non-refundable, non-creditable “Continuation Fee” in the applicable amount set forth in the table below based on the timing of such payment: If paid on or before October 1, 2010 $[***] If paid after October 1, 2010 but on or before December 31, 2010 $[***] If paid after December 31, 2010 but on or before March 31, 2011 $[***] If paid after March 31, 2011 $[***] ***Confidential treatment requested pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. Omitted portions have been filed separately with the Commission. Provided that Galderma has given Novabay three and a half (3 and 1/2) months prior notice regarding study supplies, shipping date, requirements, quantities and approving specifications, it is hereby agreed that if Novabay fails to ship the non- clinical and/or the clinical study supplies in accordance with the agreed time schedule and Galderma’s shipping instructions, the above payment date shall be modified accordingly. In particular, the Parties agree that late shipment of study supplies, even if the delay does not exceed a few days, may result in study cancellation or study postponement for several months, due to but not limited to, Galderma’s and/or CRO’s resources allocated to other projects, non-availability or agreement cancellation by study sites, clinical or organizational constraints linked to seasonality. In such case, the timing for the Continuation fee shall be moved forward for a period equivalent to such postponement.