Forbearance Fees Sample Clauses
A Forbearance Fees clause establishes the requirement for a party to pay a fee when the other party agrees to temporarily refrain from exercising certain rights, such as enforcing a debt or pursuing legal remedies. Typically, this fee is charged when a lender allows a borrower extra time to make payments or delays taking action on a default, compensating the lender for the additional risk or administrative burden. The core function of this clause is to provide a financial incentive for the party granting forbearance, while also formalizing the terms under which leniency is extended, thereby reducing uncertainty and potential disputes.
Forbearance Fees. (a) Notwithstanding anything to the contrary contained in the Credit Agreement, during the Forbearance Period, all Obligations shall accrue interest at a rate per annum equal to the Base Rate plus 3.00%.
(b) As consideration for Administrative Agent’s and Banks’ agreement to forbear from taking any Enforcement Action during the Forbearance Period, Borrower shall pay to Administrative Agent on the Effective Date, on behalf of Banks, a forbearance fee (“Forbearance Fee”) in the amount of $412,500, which shall be fully earned on the Effective Date and shall be allocated pro rata among Banks that execute this Agreement in accordance with each Bank’s Pro Rata Share.
Forbearance Fees. Borrower shall pay PFG cash fees in the amount of (i) $50,000, due at the earlier of the initial consummation of Bridge Financing and end of the Forbearance Period (as hereinafter defined), and (ii) $100,000, due June 30, 2014.
Forbearance Fees. The Borrower shall pay to the Lender a non-refundable forbearance fee equal to three percent (3.0%) of the outstanding principal balance of the Indebtedness after effecting the prepayment provided for in the preceding section of this Agreement (the "Forbearance Fee"), which shall be deemed fully earned by the Lender upon the execution hereof. The Forbearance Fee shall be payable in installments, as follows:
Forbearance Fees. The Borrower shall have paid to the Administrative Agent and each Lender party hereto any fees required to be paid pursuant to any fee letter in form and substance reasonably acceptable to the Administrative Agent executed in connection with this Agreement.
Forbearance Fees. The Obligors agree that they shall not, directly or indirectly, pay or cause to be paid any consideration, whether by fee or otherwise (including incurring any liability or obligation, or increase in margin or interest rate or other provisions with similar consequence, in each case, other than as required by the terms of the RBL Credit Agreement as in effect on the Agreement Effective Date), to any Lender (as defined in the RBL Credit Agreement) for, or as an inducement to, any forbearance, consent, waiver, or amendment, in each case without the consent of all of the Supporting Holders.
Forbearance Fees. As consideration for the amendments under this Amendment, the Obligors will pay fees (the "Fourth Forbearance Fees") to the Agent pursuant to that certain Forbearance Fee Letter Number Four, of even date herewith, between Borrower Agent and Agent (the " Forbearance Fee Letter Number Four") which shall include a one-time payment to the Agent for the benefit of the Consenting Lenders equal to 2.5 basis points on the Consenting Lenders' outstanding Loans and Commitments as of the date of this Amendment.
Forbearance Fees. As consideration for the extension of the Forbearance as provided under this Amendment, the Obligors will pay fees (the "Third Forbearance Fees") to the Agent pursuant to that certain Forbearance Fee Letter Number Three, of even date herewith, between Borrower Agent and Agent (the " Forbearance Fee Letter Number Three") which shall include a one-time payment to the Agent for the benefit of the Consenting Lenders equal to 5 basis points on the Consenting Lenders' outstanding Loans and Commitments as of the date of this Amendment.