Common use of Early Termination Fee Clause in Contracts

Early Termination Fee. If the Term is terminated by BACC upon the occurrence of an Event of Default, or is terminated by Borrower except as provided in Section 3.1, in view of the impracticability and extreme difficulty of ascertaining actual damages and by mutual agreement of the parties as to a reasonable calculation of BACC's lost profits as a result thereof, Borrower shall pay BACC upon the effective date of such termination a fee in an amount equal to four percent (4.0%) of the Advance Limit if such termination occurs on or prior the expiration of the Termination Date. Such fee shall be presumed to be the amount of damages sustained by BACC as the result of an early termination and Borrower acknowledges that it is reasonable under the circumstances currently existing. The fee provided for in this Section 3.2 shall be deemed included in the Obligations. Notwithstanding the foregoing, there shall be no termination fee if Borrower terminates the facility from funds obtained through a public offering as to Borrower or its parent corporation Eiger Technology, Inc. (formerly known as Alexa Ventures, Inc.). Notwithstanding the foregoing if after the date hereof Borrower obtains a bonafide commitment or offer of a commitment from a commercial bank (which shall not include a commercial finance company owned by a commercial bank) for replacement financing of the revolving credit facility provided for herein, Borrower shall apply to BACC for financing on the same terms and conditions of said commitment or offer and shall furnish to BACC a copy thereof (the "Offer"). BACC shall have twenty (20) days within which to accept or decline said application. If BACC declines said application, Borrower may consummate the financing with the third party who made the Offer on the same terms as set forth in said Offer and terminate the Term without payment of a termination fee.

Early Termination Fee. If the Term is terminated by BACC upon the occurrence of an Event of Default, or is terminated by Borrower except as provided in Section 3.1, in view of the impracticability and extreme difficulty of ascertaining actual damages and by mutual agreement of the parties as to a reasonable calculation of BACC's lost profits as a result thereof, Borrower shall pay BACC upon the effective date of such termination a fee in an amount equal to four percent (4.0%) of the Advance Limit if such termination occurs on or prior the expiration of the Termination Date. Such fee shall be presumed to be the amount of damages sustained by BACC as the result of an early termination and Borrower acknowledges that it is reasonable under the circumstances currently existing. The fee provided for in this Section 3.2 shall be deemed included in the Obligations. Notwithstanding the foregoing, there shall be no termination fee if Borrower terminates the facility from funds obtained through a public offering as to Borrower or its parent corporation Eiger Technology, Inc. (formerly known as Alexa Ventures, Inc.)Stock Offering. Notwithstanding the foregoing if after the date hereof Borrower obtains a bonafide commitment or offer of a commitment from a commercial bank (which shall not include a commercial finance company owned by a commercial bank) for replacement financing of the revolving credit facility provided for herein, Borrower shall apply to BACC for financing on the same terms and conditions of said commitment or offer and shall furnish to BACC a copy thereof (the "Offer"). BACC shall have twenty (20) days within which to accept or decline said application. If BACC declines said application, Borrower may consummate the financing with the third party who made the Offer on the same terms as set forth in said Offer and terminate the Term without payment of a termination fee.

Early Termination Fee. If the Term is terminated by BACC upon Upon the occurrence of an Event of DefaultApplicable Premium Trigger Event, or is terminated by the Borrower except as provided in Section 3.1shall pay to the Agent, in view for the ratable benefit of the impracticability Lenders, the Early Termination Fee. Notwithstanding anything to the contrary in this Agreement or any other Loan Document, it is understood and extreme difficulty of ascertaining actual damages and by mutual agreement of agreed that if the parties as to a reasonable calculation of BACC's lost profits Obligations are accelerated as a result thereofof the occurrence and continuance of any Event of Default (including by operation of law or otherwise), Borrower shall pay BACC upon the effective Early Termination Fee, if any, determined as of the date of acceleration, will also be due and payable and will be treated and deemed as though the Term Loan was prepaid as of such termination a fee in an amount equal to four percent (4.0%) date and shall constitute part of the Advance Limit if such termination occurs on or prior the expiration of the Obligations for all purposes herein. Any Early Termination Date. Such fee Fee payable in accordance with this Section 2.05(b) shall be presumed to be equal to the amount of liquidated damages sustained by BACC the Lenders as the result of an early termination the occurrence of the Applicable Premium Trigger Event, and Borrower acknowledges the Loan Parties agree that it is reasonable under the circumstances currently existing. The fee provided Early Termination Fee, if any, shall also be payable in the event the Obligations (and/or this Agreement) are satisfied or released by foreclosure (whether by power of judicial proceeding), deed in lieu of foreclosure or by any other means. THE LOAN PARTIES EXPRESSLY WAIVE THE PROVISIONS OF ANY PRESENT OR FUTURE STATUTE OR LAW THAT PROHIBITS OR MAY PROHIBIT THE COLLECTION OF THE FOREGOING EARLY TERMINATION FEE IN CONNECTION WITH ANY SUCH ACCELERATION. The Loan Parties expressly agree that (A) the Early Termination Fee is reasonable and is the product of an arm’s length transaction between sophisticated business people, ably represented by counsel, (B) the Early Termination Fee shall be payable notwithstanding the then prevailing market rates at the time payment is made, (C) there has been a course of conduct between Lenders and the Loan Parties giving specific consideration in this transaction for such agreement to pay the Early Termination Fee, (D) the Loan Parties shall be estopped hereafter from claiming differently than as agreed to in this Section 3.2 shall be deemed included in 2.05(b), (E) their agreement to pay the Obligations. Notwithstanding Early Termination Fee is a material inducement to the foregoingLenders to make the Term Loan, there shall be no termination fee if Borrower terminates and (F) the facility from funds obtained through Early Termination Fee represents a public offering as to Borrower or its parent corporation Eiger Technologygood faith, Inc. (formerly known as Alexa Ventures, Inc.). Notwithstanding the foregoing if after the date hereof Borrower obtains a bonafide commitment or offer of a commitment from a commercial bank (which shall not include a commercial finance company owned by a commercial bank) for replacement financing reasonable estimate and calculation of the revolving credit facility provided for herein, Borrower shall apply lost profits or damages of the Lenders and that it would be impractical and extremely difficult to BACC for financing on ascertain the same terms and conditions actual amount of said commitment damages to the Lenders or offer and shall furnish to BACC profits lost by the Lenders as a copy thereof (the "Offer"). BACC shall have twenty (20) days within which to accept or decline said application. If BACC declines said application, Borrower may consummate the financing with the third party who made the Offer on the same terms as set forth in said Offer and terminate the Term without payment result of a termination feesuch Applicable Premium Trigger Event.

Early Termination Fee. If the principal amount of the Term Loan is prepaid at any time, in whole or in part, whether voluntarily or by acceleration, of the Borrower shall pay an early termination fee (the "Early Termination Fee"), as follows: (a) If the Term Loan is terminated by BACC upon prepaid for any reason during the occurrence of an Event of Defaultperiod commencing with the Closing Date and prior to the Maturity Date, or is terminated by Borrower except as provided in Section 3.1, in view of the impracticability and extreme difficulty of ascertaining actual damages and by mutual agreement of the parties as to a reasonable calculation of BACC's lost profits as a result thereof, Borrower shall pay BACC upon to the effective date of such termination a fee Lenders an Early Termination Fee in an amount equal to four the greater of (i) the calculated interest to have accrued on the outstanding principal balance of the Term Loan, assuming the fixed rate of interest at 12.75% during the fifteen (15) month period following the Closing Date, less actual payments of interest made by Borrower on account of the Term Loan, and (b) one percent (4.01.0%) of the Advance Limit if such termination occurs on principal amount prepaid. (b) Notwithstanding anything to the contrary contained herein, so long as there has not occurred and there is not continuing any Default or prior Event of Default at the expiration time of prepayment, the Early Termination Date. Such fee Fee shall be presumed calculated solely with respect to be the amount of damages sustained by BACC as prepayments in excess of the result initial $15,000,000 prepaid, which amount shall be determined exclusive of an early termination and payments made in accordance with Section 2.4(a). In addition, Borrower shall not be required to pay any Early Termination Fee with respect to payments of principal on the Term Loan pursuant to Section 2.4(a) above. The Borrower acknowledges that a prepayment may result in the Administrative Agent and Lenders incurring additional costs, expenses or liabilities, and that it is reasonable under difficult to ascertain the circumstances currently existingfull extent of such costs, expenses or liabilities. The fee provided for in this Section 3.2 shall be deemed included in the Obligations. Notwithstanding the foregoing, there shall be no termination fee if Borrower terminates the facility from funds obtained through therefore agrees that said Early Termination Fee represents a public offering as to Borrower or its parent corporation Eiger Technology, Inc. (formerly known as Alexa Ventures, Inc.). Notwithstanding the foregoing if after the date hereof Borrower obtains a bonafide commitment or offer of a commitment from a commercial bank (which shall not include a commercial finance company owned by a commercial bank) for replacement financing reasonable estimate of the revolving credit facility provided for hereinprepayment costs, Borrower shall apply to BACC for financing on expenses or liabilities of the same terms Administrative Agent and conditions of said commitment or offer and shall furnish to BACC a copy thereof (the "Offer"). BACC shall have twenty (20) days within which to accept or decline said application. If BACC declines said application, Borrower may consummate the financing with the third party who made the Offer on the same terms as set forth in said Offer and terminate the Term without payment of a termination feeLenders.