First Amendment Fee Clause Samples
The First Amendment Fee clause establishes a specific fee that must be paid when the parties agree to amend a contract for the first time. Typically, this fee is triggered when the original agreement is modified, such as changing payment terms, extending deadlines, or altering deliverables. By setting out a clear cost for the initial amendment, the clause helps compensate the party responsible for administrative or legal work and discourages unnecessary or frequent changes to the contract, thereby promoting stability and predictability in the contractual relationship.
First Amendment Fee. Upon the Termination Date, Borrower shall pay a deferred amendment fee in relation to that certain First Amendment to this Agreement (the “First Amendment Fee”) to Agent, for its own account, in an amount equal to $150,000, which First Amendment Fee shall be deemed fully earned and non-refundable on May 7, 2019.
First Amendment Fee. The First Amendment Fee, when due hereunder, to be shared between the Lenders in accordance with their respective Pro Rata Shares.”
First Amendment Fee. Parent hereby agrees to pay to Collateral Agent for the ratable benefit of the Lenders an amendment fee in an amount equal to $75,000 (the “First Amendment Fee”) which shall fully earned and due and payable in full in immediately available funds on the date hereof and shall be non-refundable when paid.
First Amendment Fee. In connection with and in consideration of entering into the First Amendment and the related Loan Documents upon the terms set forth therein, Borrower shall pay to the Agent on the First Amendment Effective Date (for its own account), an amendment fee equal to $200,000 (the “Amendment Fee”), which Amendment Fee shall be non-refundable for any reason and fully earned and paid on the First Amendment Effective Date. Payment of the Amendment Fee shall be made in Dollars, by wire transfer of immediately available funds, to the account designated by Agent in writing to Borrower, without deduction, set-off or counterclaim.
First Amendment Fee. Company shall pay Hospital a non-refundable license issue fee in the amount of twenty five thousand dollars ($25,000) upon execution of this First Amendment. Checks for all payments due to the Hospital under this Agreement shall be made payable to the Hospital and addressed as set forth below: Massachusetts General Hospital [**] Payments via wire transfer should be made as follows: [**]
First Amendment Fee. In consideration of agreement of the Lenders to amend certain provisions of the Existing Credit Agreement, the Borrowers agree to pay to the Arranger and/or the Administrative Agent the fees (the “First Amendment Fees”) set forth in that certain First Amendment Fee Letter, dated as of the date hereof, by and among the Administrative Agent, the Arranger and the Borrowers, which First Amendment Fees shall be fully earned and due and payable in full in cash on the First Amendment Effective Date. Once paid, the First Amendment Fees shall not be refundable for any reason whatsoever.
First Amendment Fee. On the First Amendment Effective Date, the Borrowers shall pay to the Collateral Agent for the account of the Lenders that are signatory to the First Amendment, a non-refundable amendment fee (the "First Amendment Fee") in the aggregate amount of $77,875.00 which shall be deemed fully earned when paid.
First Amendment Fee. The Borrower shall pay the Amendment Fee (as defined in the First Amendment) on the Second Amendment Effective Date.
First Amendment Fee. Borrowers shall pay to the Agent, for the Pro Rata benefit of each Lender, a fee equal to 0.10% per annum times such Lender’s Revolver Commitment as in effect prior to the First Amendment Effective Date, such fee to be fully earned, due and payable on, and subject to the occurrence of, the First Amendment Effective Date.
First Amendment Fee. The Borrower hereby agrees to pay in cash in immediately available funds, upon the earlier to occur of (i) October 13, 2020 and (ii) the date on which the definitive abandonment of the Disposition contemplated by the Equity Purchase Agreement occurs, to each Lender that is a party to the First Amendment, in consideration for its agreement to enter into the First Amendment, its pro rata share of a fee (the “First Amendment Fee”) in an amount equal to 0.50% of the aggregate outstanding Term Loans held by all such Lenders on the First Amendment Effective Date, which First Amendment Fee is fully earned on the First Amendment Effective Date; provided, however, that the requirement to pay the First Amendment Fee shall terminate if, prior to the date that it would otherwise be due, the Disposition contemplated by the Equity Purchase Agreement has been consummated in accordance with the terms of the Equity Purchase Agreement.