{"component": "clause", "props": {"groups": [{"snippet": "(i) In all events and under all circumstances (except as otherwise expressly set forth in this Section 2.7(d)), Borrower shall be obligated to pay to Lender an exit fee (the \u201cExit Fee\u201d) in an amount equal to 0.50% of the original principal amount of the Loan, which amount shall be payable as follows: (A) upon any (and each) partial prepayment of the Loan in accordance with the terms hereof, in addition to all other amounts payable to Lender hereunder, Borrower shall pay to Lender, on account of the Exit Fee, an amount equal to 0.50% of the amount so prepaid and (B) upon repayment in full of the Debt or the acceleration thereof in accordance with the terms of any of the Loan Documents, Borrower shall pay to Lender the entire Exit Fee which would be due on such date, less any amounts on account thereof previously paid to Lender under the foregoing clause (A) of this subsection. In furtherance of the foregoing, Borrower expressly acknowledges and agrees that (y) Lender shall have no obligation to accept any prepayment of the Loan unless and until Borrower shall have complied with this Section 2.7(d) and (z) Lender shall have no obligation to release any Loan Document upon payment of the Debt unless and until Lender shall have received the entire Exit Fee.\n(ii) Borrower expressly acknowledges and agrees that the Exit Fee (A) shall constitute additional consideration for the Loan, (B) shall be in addition to and not offset by any other amounts due and payable hereunder (including, without limitation and to the extent applicable, the Prepayment Premium) and (iii) shall, upon payment, be the sole and exclusive property of Lender.\n(iii) Notwithstanding the foregoing or anything to the contrary contained herein or in any other Loan Documents, no Exit Fee shall be payable in connection with a repayment of the Loan by virtue of a refinancing of the Property provided that such refinancing is provided by Citibank.", "size": 24, "samples": [{"hash": "3xJWpb6Aol7", "uri": "/contracts/3xJWpb6Aol7#exit-fee", "label": "Loan Agreement (Clipper Realty Inc.)", "score": 26.9739894867, "published": true}, {"hash": "3TEjM0xuBso", "uri": "/contracts/3TEjM0xuBso#exit-fee", "label": "Loan Agreement (Clipper Realty Inc.)", "score": 26.9739894867, "published": true}], "snippet_links": [{"key": "all-events", "type": "clause", "offset": [7, 17]}, {"key": "under-all-circumstances", "type": "clause", "offset": [22, 45]}, {"key": "borrower-shall", "type": "clause", "offset": [112, 126]}, {"key": "to-lender", "type": "clause", "offset": [147, 156]}, {"key": "equal-to", "type": "definition", "offset": [199, 207]}, {"key": "principal-amount-of-the-loan", "type": "definition", "offset": [230, 258]}, {"key": "prepayment-of-the-loan", "type": "clause", "offset": [334, 356]}, {"key": "in-accordance-with", "type": "definition", "offset": [357, 375]}, {"key": "the-terms", "type": "definition", "offset": [376, 385]}, {"key": "in-addition-to", "type": "clause", "offset": [394, 408]}, {"key": "payable-to", "type": "definition", "offset": [427, 437]}, {"key": "lender-hereunder", "type": "clause", "offset": [438, 454]}, {"key": "the-exit", "type": "clause", "offset": [500, 508]}, {"key": "repayment-in-full", "type": "clause", "offset": [577, 594]}, {"key": "terms-of", "type": "definition", "offset": [658, 666]}, {"key": "the-loan-documents", "type": "clause", "offset": [674, 692]}, {"key": "this-subsection", "type": "definition", "offset": [872, 887]}, {"key": "no-obligation-to-accept", "type": "clause", "offset": [992, 1015]}, {"key": "until-borrower", "type": "definition", "offset": [1054, 1068]}, {"key": "no-obligation-to-release", "type": "clause", "offset": [1140, 1164]}, {"key": "any-loan", "type": "clause", "offset": [1165, 1173]}, {"key": "payment-of-the-debt", "type": "clause", "offset": [1188, 1207]}, {"key": "additional-consideration", "type": "definition", "offset": [1360, 1384]}, {"key": "due-and-payable", "type": "definition", "offset": [1463, 1478]}, {"key": "without-limitation", "type": "clause", "offset": [1501, 1519]}, {"key": "to-the-extent", "type": "clause", "offset": [1524, 1537]}, {"key": "prepayment-premium", "type": "definition", "offset": [1554, 1572]}, {"key": "sole-and-exclusive-property", "type": "clause", "offset": [1612, 1639]}, {"key": "of-lender", "type": "clause", "offset": [1640, 1649]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [1657, 1686]}, {"key": "other-loan-documents", "type": "definition", "offset": [1742, 1762]}, {"key": "in-connection-with", "type": "clause", "offset": [1793, 1811]}, {"key": "the-property", "type": "clause", "offset": [1866, 1878]}, {"key": "provided-that", "type": "definition", "offset": [1879, 1892]}], "hash": "b2d5c6f8acb6b5deda6f209eacb3c82c", "id": 1}, {"snippet": "Upon the earlier to occur of (i) the Term Loan Maturity Date, or (ii) full repayment of the Loan and all other Obligations whether as a result of the acceleration of the Loan, or otherwise, Borrower shall pay an exit fee to Agent, for the benefit of Lenders, in an amount equal to one percent (1.0%) multiplied by the aggregate principal amount of all Term Loans advanced hereunder.", "size": 14, "samples": [{"hash": "a2yBvdZi1Qt", "uri": "/contracts/a2yBvdZi1Qt#exit-fee", "label": "Credit Agreement (Aralez Pharmaceuticals Inc.)", "score": 27.0177955627, "published": true}, {"hash": "8RPsRaONvJd", "uri": "/contracts/8RPsRaONvJd#exit-fee", "label": "Credit Agreement (Aralez Pharmaceuticals Inc.)", "score": 27.0177955627, "published": true}, {"hash": "4TktH83tGhh", "uri": "/contracts/4TktH83tGhh#exit-fee", "label": "Credit Agreement (Aralez Pharmaceuticals Inc.)", "score": 27.0177955627, "published": true}], "snippet_links": [{"key": "term-loan-maturity-date", "type": "definition", "offset": [37, 60]}, {"key": "repayment-of-the-loan", "type": "clause", "offset": [75, 96]}, {"key": "other-obligations", "type": "definition", "offset": [105, 122]}, {"key": "acceleration-of-the-loan", "type": "clause", "offset": [150, 174]}, {"key": "borrower-shall", "type": "clause", "offset": [190, 204]}, {"key": "benefit-of-lenders", "type": "clause", "offset": [239, 257]}, {"key": "equal-to", "type": "definition", "offset": [272, 280]}, {"key": "aggregate-principal-amount", "type": "clause", "offset": [318, 344]}, {"key": "all-term-loans", "type": "clause", "offset": [348, 362]}], "hash": "75f1cc5414e463b70ef11a7d62fda381", "id": 3}, {"snippet": "Upon the Termination Date, Borrower shall pay an exit fee (the \u201cExit Fee\u201d) to Agent, for the benefit of Lenders, in an amount equal to (i) six and one half of one percent (6.50%) multiplied by the aggregate amount of the Term Loan funded hereunder on or prior to such date plus (ii) $112,500, which Exit Fee shall be deemed fully earned and non-refundable on the Termination Date.", "size": 18, "samples": [{"hash": "5MyI7ucpRT3", "uri": "/contracts/5MyI7ucpRT3#exit-fee", "label": "Credit Agreement (Elutia Inc.)", "score": 36.6331291199, "published": true}, {"hash": "aw6CkOB5gmG", "uri": "/contracts/aw6CkOB5gmG#exit-fee", "label": "Credit Agreement (Elutia Inc.)", "score": 36.3620796204, "published": true}, {"hash": "8PVtMXK9gWn", "uri": "/contracts/8PVtMXK9gWn#exit-fee", "label": "Credit Agreement (Elutia Inc.)", "score": 35.7542762756, "published": true}], "snippet_links": [{"key": "upon-the-termination-date", "type": "clause", "offset": [0, 25]}, {"key": "borrower-shall", "type": "clause", "offset": [27, 41]}, {"key": "benefit-of-lenders", "type": "clause", "offset": [93, 111]}, {"key": "equal-to", "type": "definition", "offset": [126, 134]}, {"key": "aggregate-amount", "type": "clause", "offset": [197, 213]}, {"key": "the-term-loan", "type": "clause", "offset": [217, 230]}, {"key": "prior-to", "type": "clause", "offset": [254, 262]}, {"key": "fully-earned", "type": "clause", "offset": [324, 336]}], "hash": "93ef6514dfa76dc91a626122f3b7a1f6", "id": 2}, {"snippet": "The Borrower shall pay to the Scottish Ministers an exit fee of \u00a337,500 on the Final Repayment Date or on such other date on which the Facility is repaid in full.", "size": 8, "samples": [{"hash": "1kP83vqFgM1", "uri": "/contracts/1kP83vqFgM1#exit-fee", "label": "Loan Agreement", "score": 30.348110199, "published": true}, {"hash": "i5cp8zjOlZb", "uri": "/contracts/i5cp8zjOlZb#exit-fee", "label": "Loan Agreement", "score": 25.6748809814, "published": true}, {"hash": "bjZbMPTXpXQ", "uri": "/contracts/bjZbMPTXpXQ#exit-fee", "label": "Loan Agreement", "score": 25.6735115051, "published": true}], "snippet_links": [{"key": "the-borrower-shall", "type": "clause", "offset": [0, 18]}, {"key": "pay-to", "type": "definition", "offset": [19, 25]}, {"key": "scottish-ministers", "type": "definition", "offset": [30, 48]}, {"key": "final-repayment-date", "type": "clause", "offset": [79, 99]}, {"key": "the-facility", "type": "definition", "offset": [131, 143]}, {"key": "repaid-in-full", "type": "definition", "offset": [147, 161]}], "hash": "cc78cc315a0f4332c1607a454bdbec34", "id": 5}, {"snippet": "Borrower\u2019s repayment of the Loan, in whole or in part, and whether or not the Loan is repaid or otherwise satisfied (including in connection with a foreclosure or a deed in lieu thereof) on or before the Maturity Date, in addition to any Fixed Rate Price Adjustment then due, Borrower shall pay to Lender an exit fee in an amount equal to one-eighth of one percent (0.125%) of the amount of the Loan being repaid at such time (the \u201cExit Fee\u201d). Notwithstanding the foregoing, if Borrower repays (i) all or any portion of the Loan with proceeds from replacement financing provided by Lender or (ii) the entire Loan with proceeds from the sale of the Property to a bona-fide thirty-party (i.e., non-Affiliate) purchaser, then Borrower shall have no obligation to pay any Exit Fee with respect to that portion of the Loan that is repaid with such proceeds. In addition, Borrower shall have no obligation to pay any Exit Fee (a) with respect to a portion of the Loan repaid on the Maturity Date with funds other than refinancing proceeds provided by Lender unless Lender has provided Borrower a reasonable quote for replacement financing, or (b) with respect to a portion of the Loan repaid for the sole purpose of reducing the outstanding amount of the Loan to fifty percent (50%) of the lesser of (i) the Appraised Value of the Property and (ii) the Acquisition Cost of the Property; provided in all circumstances, the Exit Fee shall be deemed earned when paid and non-refundable. For purposes hereof, a quote for replacement financing shall be deemed reasonable if it is consistent with quotes being provided by Lender to other borrowers similarly situated to Borrower at the time of determination with respect to the type of loan being requested, including, without limitation, property type, loan terms and loan structure.", "size": 12, "samples": [{"hash": "lFaH5dHhlkb", "uri": "/contracts/lFaH5dHhlkb#exit-fee", "label": "Loan Agreement (KBS Real Estate Investment Trust, Inc.)", "score": 21.0, "published": true}, {"hash": "dgkNLRCvO3Z", "uri": "/contracts/dgkNLRCvO3Z#exit-fee", "label": "Loan Agreement (KBS Real Estate Investment Trust, Inc.)", "score": 21.0, "published": true}, {"hash": "aMUbbX5Yc0o", "uri": "/contracts/aMUbbX5Yc0o#exit-fee", "label": "Loan Agreement (KBS Real Estate Investment Trust, Inc.)", "score": 21.0, "published": true}], "snippet_links": [{"key": "repayment-of-the-loan", "type": "clause", "offset": [11, 32]}, {"key": "in-connection-with", "type": "clause", "offset": [127, 145]}, {"key": "deed-in-lieu", "type": "definition", "offset": [165, 177]}, {"key": "in-addition-to", "type": "clause", "offset": [219, 233]}, {"key": "fixed-rate-price-adjustment", "type": "definition", "offset": [238, 265]}, {"key": "borrower-shall", "type": "clause", "offset": [276, 290]}, {"key": "to-lender", "type": "clause", "offset": [295, 304]}, {"key": "equal-to", "type": "definition", "offset": [330, 338]}, {"key": "amount-of-the-loan", "type": "definition", "offset": [381, 399]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [444, 473]}, {"key": "if-borrower", "type": "clause", "offset": [475, 486]}, {"key": "replacement-financing", "type": "definition", "offset": [548, 569]}, {"key": "by-lender", "type": "definition", "offset": [579, 588]}, {"key": "sale-of-the-property", "type": "clause", "offset": [636, 656]}, {"key": "no-obligation-to-pay", "type": "clause", "offset": [743, 763]}, {"key": "with-respect-to", "type": "clause", "offset": [777, 792]}, {"key": "a-portion", "type": "definition", "offset": [940, 949]}, {"key": "on-the-maturity-date", "type": "clause", "offset": [969, 989]}, {"key": "refinancing-proceeds", "type": "definition", "offset": [1012, 1032]}, {"key": "borrower-a", "type": "definition", "offset": [1079, 1089]}, {"key": "purpose-of", "type": "clause", "offset": [1199, 1209]}, {"key": "outstanding-amount", "type": "definition", "offset": [1223, 1241]}, {"key": "fifty-percent", "type": "definition", "offset": [1257, 1270]}, {"key": "lesser-of", "type": "definition", "offset": [1284, 1293]}, {"key": "value-of-the-property", "type": "definition", "offset": [1312, 1333]}, {"key": "cost-of", "type": "clause", "offset": [1359, 1366]}, {"key": "the-exit", "type": "clause", "offset": [1412, 1420]}, {"key": "when-paid", "type": "clause", "offset": [1448, 1457]}, {"key": "for-purposes-hereof", "type": "definition", "offset": [1478, 1497]}, {"key": "consistent-with", "type": "definition", "offset": [1569, 1584]}, {"key": "other-borrowers", "type": "definition", "offset": [1620, 1635]}, {"key": "similarly-situated", "type": "definition", "offset": [1636, 1654]}, {"key": "to-borrower", "type": "definition", "offset": [1655, 1666]}, {"key": "time-of-determination", "type": "definition", "offset": [1674, 1695]}, {"key": "type-of-loan", "type": "definition", "offset": [1716, 1728]}, {"key": "without-limitation", "type": "clause", "offset": [1757, 1775]}, {"key": "property-type", "type": "definition", "offset": [1777, 1790]}, {"key": "terms-and", "type": "clause", "offset": [1797, 1806]}, {"key": "loan-structure", "type": "definition", "offset": [1807, 1821]}], "hash": "782ae1e6c3216d5e4737a784d2939995", "id": 4}, {"snippet": "Upon any payment or prepayment in full or in part of the Loans hereunder, whether voluntary or involuntary, prior to, on or after the Maturity Date or following the acceleration of the Obligations hereunder, including as a result of the commencement of any Insolvency Proceeding, the Borrower shall pay to each of the Lenders for its own account a fee equal to 3.50% of the aggregate principal amount of such Loans to be paid or prepaid (the \u201cExit Fee\u201d). The Exit Fee shall be earned, due and payable immediately upon any such payment or prepayment, and shall be in addition to any accrued and unpaid interest, reimbursement obligations, Yield Protection Premium or other amounts payable in connection therewith.", "size": 7, "samples": [{"hash": "7CVS8FxWtsq", "uri": "/contracts/7CVS8FxWtsq#exit-fee", "label": "Credit Agreement and Guaranty (Harrow, Inc.)", "score": 35.86926651, "published": true}, {"hash": "cGbZRNydE9u", "uri": "/contracts/cGbZRNydE9u#exit-fee", "label": "Credit Agreement (Harrow Health, Inc.)", "score": 34.6016426086, "published": true}, {"hash": "hvsBMY4fswk", "uri": "/contracts/hvsBMY4fswk#exit-fee", "label": "Credit Agreement (Harrow Health, Inc.)", "score": 34.3552360535, "published": true}], "snippet_links": [{"key": "prepayment-in-full", "type": "clause", "offset": [20, 38]}, {"key": "loans-hereunder", "type": "clause", "offset": [57, 72]}, {"key": "voluntary-or-involuntary", "type": "clause", "offset": [82, 106]}, {"key": "prior-to", "type": "clause", "offset": [108, 116]}, {"key": "after-the-maturity-date", "type": "clause", "offset": [124, 147]}, {"key": "following-the", "type": "definition", "offset": [151, 164]}, {"key": "acceleration-of-the-obligations", "type": "clause", "offset": [165, 196]}, {"key": "commencement-of", "type": "clause", "offset": [237, 252]}, {"key": "insolvency-proceeding", "type": "clause", "offset": [257, 278]}, {"key": "the-borrower-shall", "type": "clause", "offset": [280, 298]}, {"key": "pay-to", "type": "definition", "offset": [299, 305]}, {"key": "each-of-the-lenders", "type": "clause", "offset": [306, 325]}, {"key": "account-a", "type": "definition", "offset": [338, 347]}, {"key": "equal-to", "type": "definition", "offset": [352, 360]}, {"key": "aggregate-principal-amount", "type": "clause", "offset": [374, 400]}, {"key": "loans-to", "type": "clause", "offset": [409, 417]}, {"key": "the-exit", "type": "clause", "offset": [455, 463]}, {"key": "due-and-payable", "type": "definition", "offset": [485, 500]}, {"key": "immediately-upon", "type": "clause", "offset": [501, 517]}, {"key": "in-addition-to", "type": "clause", "offset": [563, 577]}, {"key": "accrued-and-unpaid-interest", "type": "clause", "offset": [582, 609]}, {"key": "reimbursement-obligations", "type": "clause", "offset": [611, 636]}, {"key": "yield-protection-premium", "type": "definition", "offset": [638, 662]}, {"key": "other-amounts-payable", "type": "clause", "offset": [666, 687]}, {"key": "in-connection", "type": "definition", "offset": [688, 701]}], "hash": "a6b905466c2dd50c64452e68b07e5418", "id": 7}, {"snippet": "Upon any prepayment by the Company in cash of all or any of the principal amount of this Debenture (whether on or prior to the Maturity Date), the Company shall pay to the Holder concurrently with such prepayment an exit fee in an amount equal to 15% of the principal amount of this Debenture being prepaid (an \u201cExit Fee\u201d).", "size": 7, "samples": [{"hash": "bnEtymR9832", "uri": "/contracts/bnEtymR9832#exit-fee", "label": "Convertible Security Agreement (Blackboxstocks Inc.)", "score": 36.3292274475, "published": true}, {"hash": "4wlbGW7eqxW", "uri": "/contracts/4wlbGW7eqxW#exit-fee", "label": "Convertible Security Agreement (NanoVibronix, Inc.)", "score": 36.244354248, "published": true}, {"hash": "7y7ZO5bADWm", "uri": "/contracts/7y7ZO5bADWm#exit-fee", "label": "Convertible Security Agreement (Blackboxstocks Inc.)", "score": 36.1868591309, "published": true}], "snippet_links": [{"key": "company-in", "type": "clause", "offset": [27, 37]}, {"key": "the-principal-amount", "type": "definition", "offset": [60, 80]}, {"key": "prior-to-the", "type": "clause", "offset": [114, 126]}, {"key": "maturity-date", "type": "clause", "offset": [127, 140]}, {"key": "the-company-shall", "type": "clause", "offset": [143, 160]}, {"key": "pay-to", "type": "definition", "offset": [161, 167]}, {"key": "the-holder", "type": "clause", "offset": [168, 178]}, {"key": "equal-to", "type": "definition", "offset": [238, 246]}], "hash": "c60106eccf6cb411e5f240570d74cf8b", "id": 6}, {"snippet": "Simultaneously with the final payment of the Loan, and no later than on the Maturity Date, the Borrower shall pay to lender a fee of 1% of the original Loan Amount.", "size": 5, "samples": [{"hash": "ceVRj2pl8E1", "uri": "/contracts/ceVRj2pl8E1#exit-fee", "label": "Loan Agreement (American Realty Capital - Retail Centers of America, Inc.)", "score": 23.6009578705, "published": true}, {"hash": "Ivk05LEPHn", "uri": "/contracts/Ivk05LEPHn#exit-fee", "label": "Loan Agreement (American Realty Capital Daily Net Asset Value Trust, Inc.)", "score": 23.3572902679, "published": true}, {"hash": "iw6aIRDTT8z", "uri": "/contracts/iw6aIRDTT8z#exit-fee", "label": "Loan Agreement (American Realty Capital New York Recovery Reit Inc)", "score": 19.4982891083, "published": true}], "snippet_links": [{"key": "payment-of-the-loan", "type": "clause", "offset": [30, 49]}, {"key": "on-the-maturity-date", "type": "clause", "offset": [69, 89]}, {"key": "the-borrower-shall", "type": "clause", "offset": [91, 109]}, {"key": "to-lender", "type": "clause", "offset": [114, 123]}, {"key": "original-loan-amount", "type": "definition", "offset": [143, 163]}], "hash": "92efe8dab65d8fe171b0a057108a0c90", "id": 10}, {"snippet": "Upon the prepayment or repayment of principal of all or any portion of any Loans (or upon the date any such prepayment or repayment is required to be paid), whether on the Maturity Date, or pursuant to Section 3.2, Section 9.2, Section 9.3, or otherwise, the Borrower shall pay to the Administrative Agent for the account of each Lender, in cash, on the date on which such prepayment or repayment is paid or required to be paid, as the case may be, in addition to the other Obligations (including the Repayment Premium, if any) so prepaid, repaid or required to be prepaid or repaid, a fee (the \u201cExit Fee\u201d) in an amount equal to three percent (3.00%) of the principal amount of the Loans prepaid, repaid or required to be prepaid or repaid, as the case may be, on such date.", "size": 6, "samples": [{"hash": "jk4oc0OfIwc", "uri": "/contracts/jk4oc0OfIwc#exit-fee", "label": "Credit Agreement (MDxHealth SA)", "score": 35.3299102783, "published": true}, {"hash": "bf6IKgKNXBv", "uri": "/contracts/bf6IKgKNXBv#exit-fee", "label": "Credit Agreement (AVITA Medical, Inc.)", "score": 34.7932929993, "published": true}], "snippet_links": [{"key": "principal-of", "type": "definition", "offset": [36, 48]}, {"key": "on-the-maturity-date", "type": "clause", "offset": [165, 185]}, {"key": "section-32", "type": "definition", "offset": [202, 213]}, {"key": "section-92", "type": "clause", "offset": [215, 226]}, {"key": "section-93", "type": "clause", "offset": [228, 239]}, {"key": "the-borrower-shall", "type": "clause", "offset": [255, 273]}, {"key": "pay-to", "type": "definition", "offset": [274, 280]}, {"key": "the-administrative-agent", "type": "clause", "offset": [281, 305]}, {"key": "the-account", "type": "clause", "offset": [310, 321]}, {"key": "each-lender", "type": "clause", "offset": [325, 336]}, {"key": "the-case", "type": "definition", "offset": [432, 440]}, {"key": "the-other-obligations", "type": "clause", "offset": [464, 485]}, {"key": "repayment-premium", "type": "clause", "offset": [501, 518]}, {"key": "equal-to", "type": "definition", "offset": [620, 628]}, {"key": "the-principal-amount", "type": "definition", "offset": [654, 674]}, {"key": "the-loans", "type": "clause", "offset": [678, 687]}], "hash": "2230fcd3233d971bd706c3d842425710", "id": 9}, {"snippet": "In the event that the Borrower prepays, repays, replaces or refinances all or any portion of the Loans pursuant to Sections 2.8(a) or 2.8(b)(i), (ii), or (iv) or otherwise effectuates a prepayment, repayment, replacement or refinancing of all or any portion of the Loans under this Agreement, the Borrower shall pay to the Administrative Agent, for the ratable account of each of the Lenders, an exit fee of (x) 0.00% of the aggregate principal amount of the Loans so prepaid, repaid, refinanced or replaced prior to the first anniversary of the Effective Date, (y) 2.00% of the aggregate principal amount of the Loans so prepaid, repaid, refinanced or replaced on or after the first anniversary of the Effective Date but prior to the second anniversary of the Effective Date or (z) 4.00% of the aggregate principal amount of the Loans so prepaid, repaid, refinanced or replaced on or after the second anniversary of the Effective Date but prior to the third anniversary of the Effective Date. It is agreed, for the avoidance of doubt, that no exit fee shall be payable until after the first anniversary of the Effective Date. All such amounts payable pursuant to this Section 2.8(c) shall be due and payable on the date of the applicable prepayment, repayment or refinancing. For purposes of this Section 2.8(c), a prepayment pursuant to Section 2.8(a) shall include any prepayment or repayment as a result of the occurrence of any Event of Default (including as a result of any acceleration of any Loan and/or the occurrence of any Event of Default upon any bankruptcy, insolvency or similar proceeding under any Debtor Relief Law), the foreclosure or enforcement of any Lien on, or sale of, any Collateral pursuant to any Loan Document (including in any bankruptcy, insolvency or similar proceeding under any Debtor Relief Law) or the repricing, restructuring, reorganization or compromise of any Loan in connection with the confirmation of a plan of reorganization or any other plan of compromise, restructuring or arrangement in any bankruptcy, insolvency or similar proceeding under any Debtor Relief Law.", "size": 6, "samples": [{"hash": "eNyT6jwlCtY", "uri": "/contracts/eNyT6jwlCtY#exit-fee", "label": "Credit Agreement (eHealth, Inc.)", "score": 35.8336753845, "published": true}, {"hash": "2w7aeP9fabm", "uri": "/contracts/2w7aeP9fabm#exit-fee", "label": "Credit Agreement (eHealth, Inc.)", "score": 33.6379203796, "published": true}, {"hash": "lo6iAORsPdm", "uri": "/contracts/lo6iAORsPdm#exit-fee", "label": "Credit Agreement (eHealth, Inc.)", "score": 33.1587944031, "published": true}], "snippet_links": [{"key": "in-the-event", "type": "clause", "offset": [0, 12]}, {"key": "the-loans", "type": "clause", "offset": [93, 102]}, {"key": "pursuant-to-sections", "type": "clause", "offset": [103, 123]}, {"key": "this-agreement", "type": "clause", "offset": [277, 291]}, {"key": "the-borrower-shall", "type": "clause", "offset": [293, 311]}, {"key": "pay-to", "type": "definition", "offset": [312, 318]}, {"key": "the-administrative-agent", "type": "clause", "offset": [319, 343]}, {"key": "ratable-account", "type": "definition", "offset": [353, 368]}, {"key": "each-of-the-lenders", "type": "clause", "offset": [372, 391]}, {"key": "aggregate-principal-amount", "type": "clause", "offset": [425, 451]}, {"key": "prior-to-the", "type": "clause", "offset": [508, 520]}, {"key": "first-anniversary", "type": "definition", "offset": [521, 538]}, {"key": "the-effective-date", "type": "clause", "offset": [542, 560]}, {"key": "second-anniversary", "type": "definition", "offset": [735, 753]}, {"key": "third-anniversary", "type": "definition", "offset": [953, 970]}, {"key": "it-is-agreed", "type": "definition", "offset": [994, 1006]}, {"key": "for-the-avoidance-of-doubt", "type": "clause", "offset": [1008, 1034]}, {"key": "amounts-payable", "type": "clause", "offset": [1136, 1151]}, {"key": "due-and-payable", "type": "definition", "offset": [1193, 1208]}, {"key": "date-of", "type": "clause", "offset": [1216, 1223]}, {"key": "applicable-prepayment", "type": "definition", "offset": [1228, 1249]}, {"key": "for-purposes-of-this-section", "type": "clause", "offset": [1277, 1305]}, {"key": "event-of-default", "type": "clause", "offset": [1433, 1449]}, {"key": "any-loan", "type": "clause", "offset": [1496, 1504]}, {"key": "debtor-relief-law", "type": "definition", "offset": [1615, 1632]}, {"key": "enforcement-of", "type": "clause", "offset": [1654, 1668]}, {"key": "sale-of", "type": "clause", "offset": [1685, 1692]}, {"key": "loan-document", "type": "definition", "offset": [1725, 1738]}, {"key": "in-connection-with", "type": "clause", "offset": [1905, 1923]}, {"key": "confirmation-of", "type": "clause", "offset": [1928, 1943]}, {"key": "plan-of-reorganization", "type": "definition", "offset": [1946, 1968]}, {"key": "any-other-plan", "type": "definition", "offset": [1972, 1986]}], "hash": "3f258f8fcf6ac8dc7208527f63b6e1bc", "id": 8}], "next_curs": "ClESS2oVc35sYXdpbnNpZGVyY29udHJhY3Rzci0LEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhFleGl0LWZlZSMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"parents": [["fees", "Fees"], ["interest-interest-calculations-and-certain-fees", "Interest Interest Calculations and Certain Fees"], ["miscellaneous", "Miscellaneous"], ["credit-facility", "Credit Facility"], ["payments", "Payments"]], "title": "Exit Fee", "children": [["", ""], ["application-of-payments", "Application of Payments"], ["set-off", "Set Off"], ["insurance", "Insurance"], ["exercise-of-rights-not-required", "Exercise of Rights Not Required"]], "size": 639, "id": "exit-fee", "related": [["prepayment-fee", "Prepayment Fee", "Prepayment Fee"], ["upfront-fee", "Upfront Fee", "Upfront Fee"], ["ticking-fee", "Ticking Fee", "Ticking Fee"], ["commitment-fee", "Commitment Fee", "Commitment Fee"], ["facility-fee", "Facility Fee", "Facility Fee"]], "related_snippets": [], "updated": "2026-04-17T05:38:05+00:00", "also_ask": ["What negotiation leverage can be gained or lost by including an exit fee clause?", "What essential elements must be drafted to ensure the exit fee is enforceable?", "What are the most common legal pitfalls or invalidating risks with exit fee provisions?", "How do exit fee clauses compare across jurisdictions or industry standards?", "What factors do courts consider when determining if an exit fee is a penalty or a valid liquidated damages provision?"], "drafting_tip": "Specify the exit fee amount, define triggering events, and outline payment terms to ensure clarity, prevent disputes, and facilitate enforceability.", "explanation": "An Exit Fee clause requires a party to pay a specified fee if they terminate an agreement before its agreed-upon end date. Typically, this fee is triggered when a contract is ended early by the customer or lessee, such as in loan agreements, leases, or service contracts. The clause serves to compensate the other party for lost revenue or costs incurred due to the early termination, thereby discouraging premature exits and providing financial protection."}, "json": true, "cursor": ""}}