Common use of Mandatory Prepayment Upon a Liquidation Event Clause in Contracts

Mandatory Prepayment Upon a Liquidation Event. If a Liquidation Event shall occur, then Borrower shall upon such Liquidation Event pay to Agent for the benefit of Lenders (i) all accrued and unpaid payments of interest with respect to the Advances due prior to such Liquidation Event, (ii) the outstanding principal amount of the Advances, (iii) the Success Fee, (iv) the Final Payment Fee, (v) the Exit Fee, (vi) the Amendment Fee, (vii) the Restructuring Fee and (viii) all other sums, if any, that shall have become due and payable hereunder with respect to the Advances, including all Obligations due hereunder.

Appears in 2 contracts

Samples: Loan and Security Agreement (Urgent.ly Inc.), Loan and Security Agreement (Urgent.ly Inc.)

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Mandatory Prepayment Upon a Liquidation Event. If a Liquidation Event shall occur, or if the Advances and Obligations of Borrower hereunder are accelerated, then Borrower shall upon such Liquidation Event pay to Agent for the benefit of Lenders (i) all accrued and unpaid payments of interest with respect to the Advances due prior to such Liquidation Event, (ii) the outstanding principal amount all accrued and unpaid amounts of the Advances, Non-Utilization Fee; (iii) the Success FeeOutstanding Principal Balance (including all amounts of PIK Interest that may have accrued thereon), (iv) the Final Payment applicable Prepayment Fee, (v) the Exit Fee, (vi) the Amendment Fee, (vii) the Restructuring Final Payment Fee and (viiivi) all other sums, if any, that shall have become due and payable hereunder with respect to the Advances, including all Obligations due hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Asure Software Inc)

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Mandatory Prepayment Upon a Liquidation Event. If a Liquidation Event shall occur, or if the Advances and Obligations of Borrower hereunder are accelerated, then Borrower shall upon such Liquidation Event pay to Agent for the benefit of Lenders (i) all accrued and unpaid payments of interest with respect to the Advances due prior to such Liquidation Event, (ii) the outstanding principal amount all accrued and unpaid amounts of the Advances, Non-Utilization Fee; (iii) the Success FeeOutstanding Principal Balance (including all amounts of PIK Interest that may have accrued thereon), (iv) the Final Payment applicable Prepayment Fee, and (v) the Exit Fee, (vi) the Amendment Fee, (vii) the Restructuring Fee and (viii) all other sums, if any, that shall have become due and payable hereunder with respect to the Advances, including all Obligations due hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Asure Software Inc)

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