Leverage Fee. An additional annual fee of $10,000 will be charged to each Fund for leverage monitoring and additional financial statement preparation required for Funds that utilize leverage.
Leverage Fee. In addition to interest accruing on the Notes, the Company agrees to pay to the holders of the Notes a fee (the “Leverage Fee”) with respect to each fiscal quarter of the Company, beginning with the fiscal quarter ending on (or nearest to) March 31, 2008, on the last day of which the Leverage Ratio for the four most recent fiscal quarters then ended is equal to or greater than 3.00 to 1.00. The Leverage Fee payable with respect to each Note shall be a dollar amount equal to (a) the product obtained by multiplying (i) (A) .010 if the Leverage Ratio is less than 4.00 to 1.00, and (B) .025 if the Leverage Ratio is equal to or greater than 4.00 to 1.00, in either case times (ii) the Weighted Dollar Average (as defined below) of the principal balance of such Note during the fiscal quarter to which the Leverage Fee relates and (b) dividing the product thus obtained by four. The Leverage Fee for each applicable fiscal quarter shall be payable in arrears on the date upon which the financial statements for such fiscal quarter are to be delivered under paragraph 5A(i) (or paragraph 5A(ii), if the applicable fiscal quarter is the last fiscal quarter in a fiscal year). If the Company fails to deliver financial statements under paragraphs 5A(i) or 5A(ii) for any fiscal quarter or fiscal year by the date such delivery is due, and fails to provide such financial statements within five (5) days of written notice of such failure given to the Company, then the Company shall be deemed to owe the Leverage Fee for such fiscal quarter and shall make the payment required for such fiscal quarter on the date due pursuant to the preceding sentence. Payment of the Leverage Fee shall be made pursuant to the terms of paragraph 11A. The acceptance of the Leverage Fee by any holder of a Note shall not constitute a waiver of any Default or Event of Default, including, without limitation, any Default or Event of Default under paragraph 6C(2). The consequences for the failure to pay the Leverage Fee when due shall be governed by paragraph 7A(ii) hereof, treating the Leverage Fee, for such purposes and for the purpose of determining the amount payable upon acceleration of the Notes, as interest.
Leverage Fee. If the Consolidated Leverage Ratio as of the end of any fiscal quarter ending after the First Amendment Closing Date is greater than 3.50 to 1.00 for such fiscal quarter, then for such fiscal quarter theThe Company agrees to pay to the holders of the Notes, in addition to the interest accruing on the Notes, (a fee (the “Leverage Fee”), payable in arrears on or before the 45th day after the end of) if the Consolidated Leverage Ratio as of the end of any fiscal quarter ending after the First Amendment Closing Date but prior to the Fourth Amendment Closing Date is greater than 3.50 to 1.00 for such fiscal quarter, a fee equal to 0.35% per annum on the unpaid principal amount of each such Note (computed on the basis of a year of 360 days and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day) during such fiscal quarter), (b) if the Consolidated Leverage Ratio as of the end of any fiscal quarter ending after the Fourth Amendment Closing Date is greater than 3.50 to 1.00 but not greater than 4.00 to 1.00 for such fiscal quarter, a fee equal to 0.35% per annum on the unpaid principal amount of each such Note (computed on the basis of a year of 360 days and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day) during such fiscal quarter), and (c) if the Consolidated Leverage Ratio as of the end of any fiscal quarter ending after the Fourth Amendment Closing Date is greater than 4.00 to 1.00 for such fiscal quarter, a fee equal to 0.50% per annum on the unpaid principal amount of each such Note (computed on the basis of a year of 360 days and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day) during such fiscal quarter) (any such fee in the immediately foregoing clauses (a), (b) or (c) being referred to as the “Leverage Fee”), in each case payable in arrears on or before the 45th day after the end of such fiscal quarter. The payment of the Leverage Fee shall not constitute a waiver of any Default or Event of Default.
Leverage Fee. In addition to interest accruing on the Notes, the Company agrees to pay to the holders of the Notes a fee (the “Leverage Fee”) with respect to each fiscal quarter of the Company, beginning with the fiscal quarter ending on (or nearest to) March 31, 2008, on the last day of which the Leverage Ratio for the four most recent fiscal quarters then ended is equal to or greater than 3.00 to 1.00. The Leverage Fee payable for any fiscal quarter with respect to each Note shall be a dollar amount equal to (a) the product obtained by multiplying (i) (1) for each fiscal quarter ending before November 21, 2008 (A) .010 if the Leverage Ratio is less than 4.00 to 1.00, and (B) .025 if the Leverage Ratio is equal to or greater than 4.00 to 1.00 and (2) for each fiscal quarter ending on or after November 21, 2008 (A) .025 if the Leverage Ratio is less than 4.00 to 1.00, and (B) .040 if the Leverage Ratio is equal to or greater than 4.00 to 1.00, in either case times (ii) the Weighted Dollar Average (as defined below) of the principal balance of such Note during the fiscal quarter to which the Leverage Fee relates and (b) dividing the product thus obtained by four. The Leverage Fee for each applicable fiscal quarter shall be payable in arrears on the date upon which the financial statements for such fiscal quarter are to be delivered under paragraph 5A(i) (or paragraph 5A(ii), if the applicable fiscal quarter is the last fiscal quarter in a fiscal year). If the Company fails to deliver financial statements under paragraphs 5A(i) or 5A(ii) for any fiscal quarter or fiscal year by the date such delivery is due, and fails to provide such financial statements within five (5) days of written notice of such failure given to the Company, then the Company shall be deemed to owe the Leverage Fee for such fiscal quarter and shall make the payment required for such fiscal quarter on the date due pursuant to the preceding sentence. Payment of the Leverage Fee shall be made pursuant to the terms of paragraph 11A. The acceptance of the Leverage Fee by any holder of a Note shall not constitute a waiver of any Default or Event of Default, including, without limitation, any Default or Event of Default under paragraph 6C(2). The consequences for the failure to pay the Leverage Fee when due shall be governed by paragraph 7A(ii) hereof, treating the Leverage Fee, for such purposes and for the purpose of determining the amount payable upon acceleration of the Notes, as interest.
Leverage Fee. The Company shall either make (a)(i) prepayments of principal under the Bank Agreement resulting in corresponding lending commitment reductions under the Bank Agreement in accordance with Section 2.04(b)(vi) of the Bank Agreement (other than as a result of Section 2.04(b)(viii) of the Bank Agreement) and (ii) corresponding payments of principal of the Notes (other than PIK Notes) in accordance with paragraph 4A(ii) and/or (b)(i) prepayments of principal under the Bank Agreement resulting in corresponding lending commitment reductions under the Bank Agreement in accordance with Section 2.03(a) of the Bank Agreement and (ii) prepayments of principal of the Notes (other than PIK Notes) in accordance with paragraph 4B, but only if any lending commitment reductions under the Bank Agreement occur simultaneously with a pro rata (in accordance with the relative outstanding principal amount of the Bank Obligations and the Notes (other than PIK Notes)) prepayment of the Notes (other than PIK Notes) under paragraph 4B, in at least the cumulative amounts and on or before the dates set forth on the Leverage Fee Grid or the Company will pay to each Holder a leverage fee equal to the product of aggregate outstanding principal amount of the Notes (other than PIK Notes) held by such Holder in effect on the date set forth on the Leverage Fee Grid and the applicable percentage set forth on the Leverage Fee Grid (collectively, the “Leverage Fee”). Notwithstanding anything to the contrary contained herein, payments made and corresponding commitment reductions related thereto under Sections 2.03(c) and 2.04(b)(viii) of the Bank Agreement or the required prepayments of the Notes under paragraphs 4A(i) and 4F shall not be included to determine Company’s compliance with this paragraph 5S. Such Leverage Fee shall be fully earned on the date indicated but shall be due and payable on the Refinancing Date. The receipt by the Holders of any Leverage Fee shall not constitute a waiver of any Default or Event of Default. To the extent that a consent from the Required Holder(s) is necessary in order to permit a certain Asset Disposition for which the Net Cash Proceeds are to be included in the calculation of cumulative prepayments required hereunder, the Holders shall not charge a fee; provided, however, such agreement not to charge a consent fee shall be limited to a consent for which the sole purpose is to permit such Asset Disposition notwithstanding the $10,000,000 limitation in paragr...
Leverage Fee. Avnet shall pay to the Administrative Agent for the account of each Lender in accordance with each such Lenders' Pro Rata Share, a leverage fee on a quarterly basis of 0.250% times the Dollar Equivalent of the actual daily aggregate Outstanding Amount of Loans and L/C Obligations on each day during any such quarter. The leverage fee shall be calculated in arrears and shall accrue at all times from the Second Amendment Date to the Maturity Date, and so long thereafter as any such Loans or L/C Obligations shall be outstanding."
Leverage Fee. If the Consolidated Leverage Ratio as of the end of any fiscal quarter ending after the First Amendment Closing Date is greater than 3.50 to 1.00 for such fiscal quarter, then for such fiscal quarter the Company agrees to pay to the holders of the Notes, in addition to the interest accruing on the Notes, a fee (the “Leverage Fee”), payable in arrears on or before the 45th day after the end of such fiscal quarter, equal to 0.35% per annum on the unpaid principal amount of each such Note (computed on the basis of a year of 360 days and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day) during such fiscal quarter). The payment of the Leverage Fee shall not constitute a waiver of any Default or Event of Default.”
(d) Section 10.1(a) of the Note Agreement is hereby amended and restated in its entirety as follows:
Leverage Fee. An additional fee of $2,500 per year will be charged to 13A Commercial Mortgage Securities Fund, Inc. for additional financial statement preparation required to the extent that the fund utilizes leveraging.
Leverage Fee. The Company agrees to pay to NBD on each payment date set forth below the amounts set forth next to such payment date if the Company does not deliver to NBD a certificate required under Section 7.1(d)(ii) as of the corresponding reporting date set forth below which demonstrates that the Consolidated Tangible Net Worth of the Company and its Subsidiaries as of the reporting date, determined in accordance with GAAP, equals or exceeds $12,000,000:
Leverage Fee. The Company shall pay to Purchaser on each payment date set forth below the amounts set forth next to such payment date if the Company does not deliver to Purchaser a certificate required under Section 6.6 as of the corresponding reporting date set forth below that demonstrates that the Consolidated Adjusted Net Worth as of the reporting date equals or exceeds $12,000,000 REPORTING Date LEVERAGE FEE PAYMENT DATE July 31, 1996 16,740 August 25, 1996 August 31, 1996 16,740 September 25, 1996 September 30, 1996 27,900 October 25, 1996 October 31, 1996 27,900 November 25, 1996
1.13 SECTION 7.1 is amended and restated, in its entirety, as follows:
