Common use of Final Payment Fee Clause in Contracts

Final Payment Fee. On the date upon which the outstanding principal amount of any Term Loan is repaid in full, or if earlier, is required to be repaid in full (whether by scheduled payment, voluntary prepayment, mandatory prepayment pursuant to Section 2.5(b)(i), acceleration of the Obligations pursuant to Section 8.2 or otherwise), Borrower shall pay to Lenders in accordance with their Pro Rata Shares, a non-refundable fee equal to the Applicable Final Payment Fee Percentage of the original principal amount of such Term Loan (the “Final Payment Fee”), which Final Payment Fee shall be deemed to be fully earned on the date such Term Loan is made. If for any reason any Term Loan is prepaid in part prior to the Final Maturity Date, (i) Borrower shall pay on the date of any such partial prepayment a fee equal to the Applicable Final Payment Fee Percentage of the principal amount of any Term Loan so prepaid, and (ii) the Final Payment Fee due and payable on the date such Term Loan is repaid in full or required to be repaid in full shall be reduced by the aggregate amount of any such payments described in the foregoing clause (i).

Appears in 1 contract

Samples: Loan and Security Agreement (GenMark Diagnostics, Inc.)

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Final Payment Fee. On the date upon which the outstanding principal amount of any Term Loan is repaid in full, or if earlier, is required to be repaid in full (whether by scheduled payment, voluntary prepayment, mandatory prepayment pursuant to Section 2.5(b)(i), acceleration of the Obligations pursuant to Section 8.2 or otherwise), Borrower shall pay to Agent, for the benefit of Lenders in accordance with their Pro Rata Shares, a non-refundable fee equal to the Applicable Final Payment Fee Percentage ***% of the original principal amount of such Term Loan (the “Final Payment Fee”), which Final Payment Fee shall be deemed to be fully earned on the date such Term Loan is made. If for any reason any Term Loan is prepaid in part prior to the Final Maturity Date, (i) Borrower shall pay on the date of any such partial prepayment a fee equal to the Applicable Final Payment Fee Percentage ***% of the principal amount of any Term Loan so prepaid, and (ii) the Final Payment Fee due and payable on the date such Term Loan is repaid in full or required to be repaid in full shall be reduced by the aggregate amount of any such payments described in the foregoing clause (i).

Appears in 1 contract

Samples: Loan and Security Agreement (GenMark Diagnostics, Inc.)

Final Payment Fee. On the date upon which the outstanding principal amount of any the Term Loan is repaid in full, or if earlier, is required to be repaid in full (whether by scheduled payment, voluntary prepayment, mandatory prepayment pursuant to Section 2.5(b)(i), acceleration of the Obligations pursuant to Section 8.2 or otherwise), Borrower shall pay to Agent, for the benefit of Lenders in accordance with their Pro Rata Shares, a non-refundable fee equal to the Applicable Final Payment Fee Percentage 4.00% of the original principal amount of such the Term Loan (the “Final Payment Fee”), which Final Payment Fee shall be deemed to be fully earned on the date such Term Loan is made. If for any reason any the Term Loan is prepaid in part prior to the Final Maturity DateDate (which for the avoidance of doubt shall not be permitted under this Agreement), (i) Borrower shall pay on the date of any such partial prepayment a fee equal to the Applicable Final Payment Fee Percentage 4.00% of the principal amount of any the Term Loan so prepaid, and (ii) the Final Payment Fee due and payable on the date such the Term Loan is repaid in full or required to be repaid in full shall be reduced by the aggregate amount of any such payments described in the foregoing clause (i).

Appears in 1 contract

Samples: Loan and Security Agreement (Cas Medical Systems Inc)

Final Payment Fee. On the date upon which the outstanding principal amount of any the Term Loan is repaid in full, or if earlier, is required to be repaid in full (whether by scheduled payment, voluntary prepayment, mandatory prepayment pursuant to Section 2.5(b)(i), acceleration of the Obligations pursuant to Section 8.2 or otherwise), Borrower shall pay to Agent, for the benefit of Lenders in accordance with their Pro Rata Shares, a non-refundable fee equal to the Applicable Final Payment Fee Percentage 3% of the original principal amount of such the Term Loan (the “Final Payment Fee”), which Final Payment Fee shall be deemed to be fully earned on the date such Term Loan is made. If for any reason any the Term Loan is prepaid in part prior to the Final Maturity DateDate (which for the avoidance of doubt shall not be permitted under this Agreement), (i) Borrower shall pay on the date of any such partial prepayment a fee equal to the Applicable Final Payment Fee Percentage 3% of the principal amount of any the Term Loan so prepaid, and (ii) the Final Payment Fee due and payable on the date such the Term Loan is repaid in full or required to be repaid in full shall be reduced by the aggregate amount of any such payments described in the foregoing clause (i).

Appears in 1 contract

Samples: Loan and Security Agreement (Siga Technologies Inc)

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Final Payment Fee. On the date upon which the outstanding principal amount of any the Term Loan is repaid in full, or if earlier, is required to be repaid in full (whether by scheduled payment, voluntary prepayment, mandatory prepayment pursuant to Section 2.5(b)(i), acceleration of the Obligations pursuant to Section 8.2 or otherwise), Borrower shall pay to Agent, for the benefit of Lenders in accordance with their Pro Rata Shares, a non-refundable fee equal to the Applicable Final Payment Fee Percentage 3.5% of the original principal amount of such the Term Loan (the “Final Payment Fee”), which Final Payment Fee shall be deemed to be fully earned on the date such Term Loan is madeClosing Date. If for any reason any the Term Loan is prepaid in part prior to the Final Scheduled Maturity DateDate (which for the avoidance of doubt shall not be permitted under this Agreement), (i) Borrower shall pay on the date of any such partial prepayment a fee equal to the Applicable Final Payment Fee Percentage 3.5% of the principal amount of any the Term Loan so prepaid, and (ii) the Final Payment Fee due and payable on the date such the Term Loan is repaid in full or required to be repaid in full shall be reduced by the aggregate amount of any such payments described in the foregoing clause (i).

Appears in 1 contract

Samples: Loan and Security Agreement (Infraredx Inc)

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