Fees    Backstop Fee Sample Clauses

Fees    Backstop Fee. In exchange for the DIP Backstop Parties’ agreement to backstop the entire amount of the DIP Facility, each DIP Backstop Party, as well as Project Swift LLC, shall receive its pro rata share of a backstop fee comprising 20% of DIP Term Loans in the form of an assumption of an equivalent amount of such DIP Backstop Party’s Term Loan Claims, up to the amount thereof, and thereafter paid in kind (the “Backstop Fee”); provided that any interest on additional DIP Term Loans payable as part of the Backstop Fee shall be payable in kind; provided further that to the extent a DIP Backstop Party does not hold Term Loan Claims sufficient to pay the Backstop Fee, such amount of the Backstop Fee shall be paid in an equivalent amount of DIP Term Loans. The Backstop Fee shall be earned on the date of execution of the Transaction Support Agreement, but subject to entry of the Interim DIP/Cash Collateral Order, and thereafter constitute DIP Claims. Any third party10 that funds the Accordion Facility shall be entitled to, with the consent of the Required DIP Lenders, a fee no worse for the Company than being paid to the DIP Backstop Parties. Participation Fee: In exchange for the DIP Lenders’ agreement to fund the DIP Facility, each applicable DIP Lender11 shall receive its pro rata share of a participation fee comprising, (i) if the Plan is confirmed, 85% of the New Equity Interests (subject to dilution of the MIP), or (ii) if the Plan is not confirmed, $28 million DIP Term Loans, payable in 10 For avoidance of doubt, any funding of the Accordion Facility by a third-party is subject to consent of the Required DIP Lenders. 11 For avoidance of doubt, Project Swift LLC shall be the only Additional Financing Party providing “new money” DIP Term Loans and thus entitled to receive a share of the Participation Fee as set forth on its Joinder. kind (the “Participation Fee”); provided that any interest on additional DIP Term Loans payable as part of the Participation Fee shall be payable in kind. The Participation Fee shall be earned on the date of entry of the Final DIP/Cash Collateral Order and thereafter constitute DIP Claims. There shall be no commitment fees, exit fees or prepayment premium.
View Source

Related to Fees    Backstop Fee

  • Agent's Fee The Borrower shall pay to the Agent for its own account fees in the amounts and at the times previously agreed upon between the Borrower and the Agent.

  • Arrangement fee The Borrower shall pay to the Arranger an arrangement fee in the amount and at the times agreed in a Fee Letter.

  • Structuring Fee In consideration for the time, effort and expense involved in the preparation, negotiation and execution of this Agreement, at the time of the execution and delivery of this Agreement by the Company and Prudential, the Company will pay to Prudential in immediately available funds a fee (the “Structuring Fee”) in the amount of $25,000.

  • Closing Fees On the Effective Date, the Borrowers shall pay to the Administrative Agent, for the benefit of the Lenders, the upfront fees due to the Lenders as heretofore agreed.

  • Closing Fees, Expenses, etc The Administrative Agent shall have received for its own account, or for the account of each Lender, as the case may be, all fees, costs and expenses due and payable pursuant to Sections 3.3 and 10.3, if then invoiced.