Prepayment Fee. If any advance under the Term Loans is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by Borrowers, by reason of the occurrence of an Event of Default or the acceleration of the Term Loans, or otherwise), or if the Term Loans shall become accelerated and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) equal to an amount determined by multiplying the amount of the Term Loans being prepaid by the following applicable percentage amount: (w) three and a half percent (3.50%) for the first year following the Closing Date , (x) two and a half percent (2.50%) for the second year following the Closing Date, (y) one and a half percent (1.50%) for the third year following the Closing Date and (z) zero percent (0.0%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans prior to the Maturity Date by all of the Lenders. All fees payable pursuant to this paragraph shall be deemed fully earned and non-refundable as of the Closing Date.
Appears in 2 contracts
Sources: Credit and Security Agreement (Sientra, Inc.), Credit and Security Agreement (Term Loan) (Sientra, Inc.)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by BorrowersBorrower, by mandatory prepayment by Borrower, by reason of the occurrence of an Event of Default or the acceleration of the Term Loans, or otherwise), or if the Term Loans Loan shall become accelerated (including any automatic acceleration due to the occurrence of an Event of Default described in Section 10.1(f)) or otherwise) and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee shall be equal to an amount determined by multiplying the amount of the Term Loans being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (wx) three and a half percent (3.503.0%) for the first year following the Closing Date Date, (xy) two and a half percent (2.502.0%) for the second year following the Closing Date, (y) one and a half percent (1.50%) for the third year following the Closing Date and (z) zero one percent (0.01.0%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans prior to the Maturity Date by all of the Lenders). All fees payable pursuant to this paragraph shall be deemed fully fully-earned and non-refundable as of the Closing Date.
Appears in 2 contracts
Sources: Credit and Security Agreement (Term Loan) (Akoya Biosciences, Inc.), Credit and Security Agreement (Term Loan) (Akoya Biosciences, Inc.)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by Borrowers, by reason of the occurrence of an Event of Default or the acceleration of the Term LoansLoan, or otherwise), or if the Term Loans Loan shall become accelerated and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) equal to an amount determined by multiplying the amount of the Term Loans being prepaid repaid by the following applicable percentage amount: (wx) three and a half percent (3.503.00%) % for the first year following the Original Closing Date Date, (xy) two and a half percent (2.502.00%) for the second year following the Original Closing Date, (y) one and a half percent (1.50%) for the third year following the Closing Date and or (z) zero one half of one percent (0.0.50%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans prior to the Maturity Date by all of the Lenders). All fees payable pursuant to this paragraph shall be deemed fully earned and non-refundable as of the Original Closing Date.
Appears in 2 contracts
Sources: Credit and Security Agreement (Mohawk Group Holdings, Inc.), Credit and Security Agreement (Mohawk Group Holdings, Inc.)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by BorrowersBorrower, by mandatory prepayment by Borrower, by reason of the occurrence of an Event of Default or the acceleration of the Term Loans, or otherwise), or if the Term Loans Loan shall become accelerated (including any automatic acceleration due to the occurrence of an Event of Default described in Section 10.1(f)) or otherwise) and due and payable in full, Borrowers shall pay to AgentTerm Loan Servicer, for the benefit of all Term Lenders committed to make Term Loan advancesin accordance with their Pro Rata Shares, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of the Term Loans shall be equal to an amount determined by multiplying the amount of the Term Loans being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: amount (wx) three and a half four percent (3.504.00%) for the first year following the Closing Date , (x) two and a half percent (2.50%) for the second year years following the Closing Date, (y) one and a half three percent (1.503.00%) for the third year following the Closing Date Date, and (z) zero two percent (0.02.00%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans prior to the Maturity Date by all of the Lenders). All fees payable pursuant to this paragraph shall be deemed fully earned as of the Closing Date and non-refundable as of the Closing Dateonce paid.
Appears in 1 contract
Sources: Credit, Security and Guaranty Agreement (ViewRay, Inc.)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by BorrowersBorrower, by mandatory prepayment by Borrower, by reason of the occurrence of an Event of Default or the acceleration of the Term Loans, or otherwise), or if the Term Loans Loan shall become accelerated (including any automatic acceleration due to the occurrence of an Event of Default described in Section 10.1(f)) or otherwise) and due and payable in full, or if the Lenders’ funding obligations in respect of any unfunded portion of the Term Loan shall terminate prior to the Maturity Date, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of the Term Loan Tranche 1, Term Loan Tranche 2 or Term Loan Tranche 3 shall be equal to an amount determined by multiplying the amount of the Term Loans being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (wx) three and a half percent (3.503.0%) for the first year following the Closing Date Date, (xy) two and a half percent (2.502.0%) for the second year following the Closing Date, (y) one and a half percent (1.50%) for the third year following the Closing Date and (z) zero one percent (0.01.0%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans prior to the Maturity Date by all of the Lenders). All fees payable pursuant to this paragraph shall be deemed fully fully-earned and non-refundable as of the Closing Date.
Appears in 1 contract
Sources: Credit and Security Agreement (Term Loan) (Sight Sciences, Inc.)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by BorrowersBorrower, by mandatory prepayment by Borrower, by reason of the occurrence of an Event of Default or the acceleration of the Term Loans, or otherwise), or if the Term Loans Loan shall become accelerated (including any automatic acceleration due to the occurrence of an Event of Default described in Section 10.1(f)) or otherwise) and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of the Term Loans shall be equal to an amount determined by multiplying the amount of the Term Loans being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (w) three and a half percent (3.503.00%) for the first year following the Closing Date Date, (x) two and a half percent (2.502.00%) for the second year following the Closing Date, (y) one and a half percent (1.501.00%) for the third year following the Closing Date Date, and (z) zero percent (0.00.00%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans prior to the Maturity Date by all of the Lenders). All fees payable pursuant to this paragraph shall be deemed fully earned when due and payable and non-refundable as of the Closing Dateonce paid.
Appears in 1 contract
Sources: Credit, Security and Guaranty Agreement (Term Loan) (Xtant Medical Holdings, Inc.)
Prepayment Fee. If any advance under Borrower agrees that if the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by BorrowersBorrower, by reason of the occurrence of an Event of Default or the acceleration of the Term Loans, including upon the occurrence of an insolvency proceeding of any Loan Party, or otherwise), or if the Term Loans shall become accelerated and due and payable in full, Borrowers Borrower shall pay to Administrative Agent, for the benefit account the account of all the Lenders committed to make Term Loan advancesin accordance with their Pro Rata Share, as compensation for the costs of such Administrative Agent and Lenders making funds available to Borrowers Borrower under this Agreement, a prepayment fee (the each, a “Prepayment Fee”) calculated in accordance with this Section 5.1. Each Prepayment Fee shall be equal to an amount determined by multiplying the principal amount of the Term Loans being prepaid by the following applicable percentage amount: (wi) three and a half four percent (3.504%) for the first year following the Closing Date , if such prepayment occurs within twelve (x12) two and a half percent (2.50%) for the second year following months after the Closing Date, (yii) one and a half three percent (1.503%) for the third year following if such prepayment occurs at any time twelve (12) months after the Closing Date but less than twenty-four (24) months after the Closing Date, and (ziii) zero two percent (0.02%) thereafterif such prepayment occurs at any time twenty-four (24) months after the Closing Date but less than thirty-six (36) months after the Closing Date. The Notwithstanding the foregoing, no Prepayment Fee shall not apply be applicable to or be assessed upon any a voluntary prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans prior to Loan made with the Maturity Date by all Net Cash Proceeds arising from the sale of the Lenders. All fees payable pursuant to this paragraph shall be deemed fully earned and non-refundable as Borrower’s investment in BriefCam Ltd., provided such voluntary prepayment is made within ten (10) days of the Closing Dateconsummation of such sale.
Appears in 1 contract
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by Borrowers, by reason of the occurrence of an Event of Default or the acceleration of the Term LoansLoan, or otherwise), or if the Term Loans Loan shall become accelerated and due and payable in full, or if the Lenders’ funding obligations in respect of any unfunded portion of the Term Loan shall terminate prior to the Maturity Date, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee shall be equal to an the amount determined by multiplying the amount of the Term Loans being prepaid by the following applicable percentage amount: (wx) three and a half percent (3.503.0%) for during the first year following the Closing Date Date. , (xy) two and a half percent (2.502.0%) for during the second year following the Closing Date, (y) one and a half percent (1.50%) for the third year following the Closing Date and (z) zero one percent (0.01.0%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceedsNet Insurance/Condemnation Proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate). Notwithstanding the foregoing, in no event shall any fee under this Section 2.2(i) or (y) made be due to and payable if the Term Loans being paid Loan prepaid in full as a result of a refinancing of the Term Loans prior to the Maturity Date by all each of the LendersObligations and the Affiliated Obligations by Agent or an Affiliate thereof. All fees payable pursuant to this paragraph shall be deemed fully earned and non-refundable as of the Closing Date.
Appears in 1 contract
Sources: Loan Agreement
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by BorrowersBorrower, by mandatory prepayment by Borrower, by reason of the occurrence of an Event of Default or the acceleration of the Term Loans, or otherwise), or if the Term Loans Loan shall become accelerated (including any automatic acceleration due to the occurrence of an Event of Default described in Section 10.1(f)) or otherwise) and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of the Term Loans shall be equal to an amount determined by multiplying the amount of the Term Loans being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (w) three and a half percent (3.503.00%) for the first year following the Closing Date Third Amendment Effective Date, (x) two and a half percent (2.502.00%) for the second year following the Closing Third Amendment Effective Date, (y) one and a half percent (1.501.00%) for the third year following the Closing Date Third Amendment Effective Date, and (z) zero percent (0.00.00%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans prior to the Maturity Date by all of the Lenders). All fees payable pursuant to this paragraph shall be deemed fully earned when due and payable and non-refundable as of the Closing Dateonce paid.
Appears in 1 contract
Sources: Credit, Security and Guaranty Agreement (Term Loan) (Xtant Medical Holdings, Inc.)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by BorrowersBorrower, by mandatory prepayment by Borrower, by reason of the occurrence of an Event of Default or the acceleration of the Term Loans, or otherwise), or if the Term Loans Loan shall become accelerated (including any automatic acceleration due to the occurrence of an Event of Default described in Section 10.1(f)) or otherwise) and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of the Term Loans shall be equal to an amount determined by multiplying the principal amount of the Term Loans being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (w) three and a half one percent (3.501.00%) for if such prepayment occurs after the first year following the Closing Date , (x) two and a half percent (2.50%) for the second year following the Closing Third Amendment Effective Date, (y) one and a half percent (1.50%) for the third year following the Closing Date and (z) zero percent (0.0%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) required to be made due pursuant to the Term Loans being paid in full as a result of a refinancing Section 6(a) of the Term Loans prior to the Maturity Date by all of the LendersThird Amendment. All fees payable pursuant to this paragraph shall be deemed fully earned and non-refundable as of the Closing DateDate are non-refundable once paid.”
Appears in 1 contract
Sources: Credit, Security and Guaranty Agreement (Term Loan) (Telesis Bio Inc.)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by BorrowersBorrower, by mandatory prepayment by Borrower, by reason of the occurrence of an Event of Default or the acceleration of the Term Loans, or otherwise), or if the Term Loans Loan shall become accelerated (including any automatic acceleration due to the occurrence of an Event of Default described in Section 10.1(f)) or otherwise) and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Term Lenders committed to make Term Loan advancesin accordance with their Pro Rata Shares, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of the Term Loans shall be equal to an amount determined by multiplying the amount of the Term Loans being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (w) three and a half percent (3.503.00%) for the first year following the Closing Date Date, (x) two and a half percent (2.502.00%) for the second year following the Closing Date, (y) one and a half percent (1.501.00%) for the third year following the Closing Date Date, and (z) zero percent (0.00.00%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made (x) pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (iiiii) (relating to payments exceeding the Maximum Lawful Rate), subpart (iv) (relating to equity cure payments), or subpart (v) (relating to use of proceeds) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans in full prior to the Maturity Date by all Agent or an Affiliate of the LendersAgent. All fees payable pursuant to this paragraph shall be deemed fully earned as of the Closing Date and non-refundable as of the Closing Dateonce paid.
Appears in 1 contract
Sources: Credit, Security and Guaranty Agreement (Asure Software Inc)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by Borrowers, by reason of the occurrence of an Event of Default or the acceleration of the Term LoansLoan, or otherwise), or if the Term Loans Loan shall become accelerated and due and payable in full, or if the Lenders’ funding obligations in respect of any unfunded portion of the Term Loan shall terminate prior to the Commitment Expiry Date, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee shall be equal to an amount determined by multiplying the amount of the Term Loans being prepaid by the following applicable percentage amount: (wx) three and a half percent (3.50%) 2.0% for the first year following the Closing Date , (x) two and a half percent (2.50%) for the second year following the Closing Date, (y) one and a half percent (1.50%) 1.0% for the third second year following the Closing Date and (z) zero percent (0.0%) 0% thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans prior to the Maturity Date by all of the Lenders). All fees payable pursuant to this paragraph shall be deemed fully earned and non-refundable as of the Closing Date.
Appears in 1 contract
Sources: Credit and Security Agreement (Term Loan) (EndoChoice Holdings, Inc.)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by BorrowersBorrower, by mandatory prepayment by Borrower, by reason of the occurrence of an Event of Default or the acceleration of the Term Loans, or otherwise), or if the Term Loans Loan shall become accelerated (including any automatic acceleration due to the occurrence of an Event of Default described in Section 10.1(f)) or otherwise) and due and payable in full, Borrowers shall pay to AgentTerm Loan Servicer, for the benefit of all Term Lenders committed to make Term Loan advancesin accordance with their Pro Rata Shares, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of the Term Loans shall be equal to an amount determined by multiplying the amount of the Term Loans being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (w) three and a half percent (3.503.00%) for the first year following the Closing Date Date, (x) two and a half percent (2.502.00%) for the second year following the Closing Date, (y) one and a half percent (1.501.00%) for the third year following the Closing Date Date, and (z) zero percent (0.00.00%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceedsCasualty Proceeds), or subpart (iiiii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans prior to the Maturity Date by all of the Lenders). All fees payable pursuant to this paragraph shall be deemed fully earned as of the Closing Date and non-refundable as of the Closing Dateonce paid.
Appears in 1 contract
Sources: Credit, Security and Guaranty Agreement (NeuroPace Inc)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by Borrowers, by reason of the occurrence of an Event of Default or the acceleration of the Term LoansLoan, or otherwise), or if the Term Loans Loan shall become accelerated and due and payable in full, or if the Lenders’ funding obligations in respect of any unfunded portion of the Term Loan shall terminate prior to the Commitment Expiry Date, Borrowers shall pay to Administrative Agent, for the benefit of all Lenders committed to make Term Loan advancesadvances on the Closing Date, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee shall be equal to an amount determined by multiplying the amount of the Term Loans being prepaid by the following applicable percentage amount: (w) three and a half percent (3.503%) for the first year following the Closing Date Date, (x) two and a half percent (2.502%) for the second year following the Closing Date, (y) one and a half percent (1.501%) for the third year following the Closing Date Date, and (z) zero percent (0.00%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Administrative Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans prior to the Maturity Date by all of the Lenders). All fees payable pursuant to this paragraph shall be deemed fully earned and non-refundable as of the Closing Date.
Appears in 1 contract
Sources: Credit and Security Agreement (Targanta Therapeutics Corp.)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by Borrowers, by reason of the occurrence of an Event of Default or the acceleration of the Term LoansLoan, or otherwise), or if the Term Loans Loan shall become accelerated and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) equal to an amount determined by multiplying the amount of the Term Loans being prepaid repaid by the following applicable percentage amount: (wx) three and a half percent (3.503.00%) % for the first year following the Closing Date Date, (xy) two and a half percent (2.502.00%) for the second year following the Closing Date, (y) one and a half percent (1.50%) for the third year following the Closing Date and or (z) zero one half of one percent (0.0.50%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans prior to the Maturity Date by all of the Lenders). All fees payable pursuant to this paragraph shall be deemed fully earned and non-refundable as of the Closing Date.
Appears in 1 contract
Sources: Credit and Security Agreement (Mohawk Group Holdings, Inc.)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for pursuant to (i) Section 2.1(a)(ii)(B)(iv), (ii) Section 2.1(a)(ii)(C), or (iii) Section 2.12(b), or if the Term Loan shall become accelerated (including any reason (whether by voluntary prepayment by Borrowers, by reason of automatic acceleration due to the occurrence of an Event of Default or the acceleration of the Term Loans, described in Section 10.1(f)) or otherwise), or if the Term Loans shall become accelerated ) and due and payable in fullfull prior to the third anniversary of the Closing Date, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of each Term Loan shall be equal to an amount determined by multiplying the principal amount of the Term Loans being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (w) three and a half percent (3.503.0%) for the first year following the Closing Date Date, (x) two and a half percent (2.502.0%) for the second year following the Closing Date, (y) one and a half percent (1.501.0%) for the third year following the Closing Date Date, and (z) zero percent (0.00%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding following the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing third anniversary of the Term Loans prior to the Maturity Date by all of the LendersClosing Date. All fees payable pursuant to this paragraph shall be deemed fully earned when due and payable and non-refundable as of the Closing Dateonce paid.
Appears in 1 contract
Sources: Credit and Security Agreement (Term Loan) (Radius Health, Inc.)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by BorrowersBorrower, by mandatory prepayment by Borrower, by reason of the occurrence of an Event of Default or the acceleration of the Term Loans, or otherwise), or if the Term Loans Loan shall become accelerated (including any automatic acceleration due to the occurrence of an Event of Default described in Section 10.1(e) or (f)) or otherwise) and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advancesin accordance with their respective Pro Rata Shares, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee shall be equal to an amount determined by multiplying the amount of the Term Loans being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (w) three and a half percent (3.503.00%) for the first year following the Closing Date Date, (x) two and a half percent (2.502.00%) for the second year following the Closing Date, (y) one and a half percent (1.501.00%) for the third year following the Closing Date Date, and (z) zero percent (0.00.00%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B257619867 v8
2.1 (a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) ). Notwithstanding the foregoing, the Prepayment Fee shall not apply to or (y) be assessed upon any prepayment made by Borrowers if such payments were made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans in full prior to the Maturity Date by all Agent or an Affiliate of the LendersAgent. All fees payable pursuant to this paragraph shall be deemed fully fully-earned and non-refundable as of the Closing Date.
Appears in 1 contract
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by BorrowersBorrower, by mandatory prepayment by Borrower, by reason of the occurrence of an Event of Default or the acceleration of the Term Loans, or otherwise), or if the Term Loans Loan shall become accelerated (including any automatic acceleration due to the occurrence of an Event of Default described in Section 10.1(f)) or otherwise) and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee shall be equal to an amount determined by multiplying the amount of the Term Loans being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (wx) three and a half percent (3.503.0%) for the first year following the Closing Date SecondThird Amendment Effective Date, (xy) two and a half percent (2.502.0%) for the second year following the Closing Date, (y) one and a half percent (1.50%) for the third year following the Closing SecondThird Amendment Effective Date and (z) zero one percent (0.01.0%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans prior to the Maturity Date by all of the Lenders). All fees payable pursuant to this paragraph shall be deemed fully fully-earned and non-refundable as of the Closing Date..
Appears in 1 contract
Sources: Credit and Security Agreement (Term Loan) (Akoya Biosciences, Inc.)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by Borrowers, by reason of the occurrence of an Event of Default or the acceleration of the Term LoansLoan, or otherwise), or if the Term Loans Loan shall become accelerated and due and payable in full, or if the Lenders’ funding obligations in respect of any unfunded portion of the Term Loan shall terminate prior to the Commitment Expiry Date, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee shall be equal to an amount determined by multiplying the amount of the Term Loans being prepaid by the following applicable percentage amount: (w) three and a half percent (3.50%) 2.0% for the first year following the Closing Date , (x) two and a half percent (2.50%) for the second year following the Closing Date, (y) one and a half percent (1.50%) for the third year following the Closing Date and (z) zero percent (0.0%) thereafter. 1.0% thereafter The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans prior to the Maturity Date by all of the Lenders). All fees payable pursuant to this paragraph shall be deemed fully earned and non-refundable as of the Closing DateDate but in each case payable pursuant to the terms of this paragraph.
Appears in 1 contract
Sources: Credit and Security Agreement (Ellipse Technologies Inc)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by BorrowersBorrower, by mandatory prepayment by Borrower, by reason of the occurrence of an Event of Default or the acceleration of the Term Loans, or otherwise), or if the Term Loans Loan shall become accelerated (including any automatic acceleration due to the occurrence of an Event of Default described in Section 10.1(f)) or otherwise) and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee shall be equal to an amount determined by multiplying the amount of the Term Loans being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (wx) three and a half percent (3.503.0%) for the first year following the Closing Date Second Amendment Effective Date, (xy) two and a half percent (2.502.0%) for the second year following the Closing Date, (y) one and a half percent (1.50%) for the third year following the Closing Second Amendment Effective Date and (z) zero one percent (0.01.0%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans prior to the Maturity Date by all of the Lenders). All fees payable pursuant to this paragraph shall be deemed fully fully-earned and non-refundable as of the Closing Date.
Appears in 1 contract
Sources: Credit and Security Agreement (Term Loan) (Akoya Biosciences, Inc.)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by BorrowersBorrower, by mandatory prepayment by Borrower, by reason of the occurrence of an Event of Default or the acceleration of the Term Loans, or otherwise), or if the Term Loans Loan shall become accelerated (including any automatic acceleration due to the occurrence of an Event of Default described in Section 10.1(f)) or otherwise) and due and payable in full, Borrowers shall pay to AgentTerm Loan Servicer, for the benefit of all Term Lenders committed to make Term Loan advancesin accordance with their Pro Rata Shares, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of the Term Loans shall be equal to an amount determined by multiplying the amount of the Term Loans being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (wx) three and a half percent (3.503.00%) for the first year following the Closing Date Date, (xy) two and a half percent (2.502.00%) for the second year following the Closing Date, (y) one and a half percent (1.50%) for the third year following the Closing Date and (z) zero one percent (0.01.00%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty insurance proceeds), or subpart (iiiii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans prior to the Maturity Date by all of the Lenders). All fees payable pursuant to this paragraph shall be deemed fully earned as of the Closing Date and non-refundable as of the Closing Dateonce paid.
Appears in 1 contract
Sources: Credit, Security and Guaranty Agreement (Evolv Technologies Holdings, Inc.)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by Borrowers, by reason of the occurrence of an Event of Default or the acceleration of the Term LoansLoan, or otherwise), or if the Term Loans Loan shall become accelerated and due and payable in full, or if the Lenders’ funding obligations in respect of any unfunded portion of the Term Loan shall terminate prior to the Maturity Date, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advancesLenders, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) in an amount equal to an amount determined by multiplying the amount of the Term Loans being prepaid (or required to be prepaid, if such amount is greater) multiplied by the following applicable percentage amount: (wx) three and a half four percent (3.504.0%) for the first year following the Closing Date Term Loan Tranche 1 Funding Date, (xy) two and a half three percent (2.503.0%) for the second year following the Closing Date, (y) one and a half percent (1.50%) for the third year following the Closing Term Loan Tranche 1 Funding Date and (z) zero two percent (0.02.0%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B2.1(a)(iii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) ), or (y) made due repaid pursuant to the Term Loans being paid in full as a result of a refinancing of the Term Loans prior to the Maturity Date by all of the LendersSection 2.1(a)(v)(B)(II). All fees payable pursuant to this paragraph shall be deemed fully earned as of the Closing Date (provided that such fees shall nonetheless only become due and payable in the circumstances described in this paragraph) and non-refundable as of the Closing Dateapplicable date of prepayment.
Appears in 1 contract
Sources: Credit and Security Agreement (TherapeuticsMD, Inc.)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by BorrowersBorrower, by mandatory prepayment by Borrower, by reason of the occurrence of an Event of Default or the acceleration of the Term Loans, or otherwise), or if the Term Loans Loan shall become accelerated (including any automatic acceleration due to the occurrence of an Event of Default described in Section 10.1(f)) or otherwise) and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of the Term Loans shall be equal to an amount determined by multiplying the amount of the Term Loans being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (w) three and a half percent (3.503.00%) for the first year following the Closing Date Third Amendment Effective Date, (x) two and a half percent (2.502.00%) for the second year following the Closing Third Amendment Effective Date, (y) one and a half percent (1.501.00%) for the third year following the Closing Date Third Amendment Effective Date, and (z) zero percent (0.00.00%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans prior to the Maturity Date by all of the Lenders). All fees payable pursuant to this paragraph shall be deemed fully earned when due and payable and non-refundable as of the Closing Date.once paid. MidCap / Xtant / Credit, Security and Guaranty Agreement (Term Loan)
Appears in 1 contract
Sources: Credit, Security and Guaranty Agreement (Term Loan) (Xtant Medical Holdings, Inc.)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary or mandatory prepayment by BorrowersBorrower, by reason of the occurrence of an Event of Default or the acceleration of the Term Loans, or otherwise), or if the Term Loans Loan shall become accelerated (including any automatic acceleration due to the occurrence of an Event of Default described in Section 10.1(f)) or otherwise) and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee shall be equal to an amount determined by multiplying the amount of the Term Loans being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (wx) three and a half percent (3.503.00%) for the first year following the Closing Date Date, (xy) two and a half percent (2.502.00%) for the second year following the Closing Date, (y) one and a half percent (1.50%) for the third year following the Closing Date and (z) zero one percent (0.01.00%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans in full prior to the Maturity Date by all Agent or an Affiliate of the LendersAgent. All fees payable pursuant to this paragraph shall be deemed fully fully-earned and non-refundable as of the Closing Date.
Appears in 1 contract
Sources: Credit and Security Agreement (Alpha Teknova, Inc.)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by Borrowers, by reason of the occurrence of an Event of Default or the acceleration of the Term LoansLoan, or otherwise), or if the Term Loans Loan shall become accelerated and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) equal to an amount determined by multiplying the amount of the Term Loans being prepaid repaid by the following applicable percentage amount: (wx) three and a half percent (3.503.00%) % for the first year following the Original Closing Date Date, (xy) two and a half percent (2.502.00%) for the second year following the Original Closing DateDateperiod beginning on the Ninth Amendment Effective Date and ending on the first anniversary thereof, or (yzy) one and a half of one percent (1.50%) for the third year following the Closing Date and (z) zero percent (0.0.50%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans prior to the Maturity Date by all of the Lenders). All fees payable pursuant to this paragraph shall be deemed fully earned and non-refundable as of the Original Closing Date.
Appears in 1 contract
Sources: Credit and Security Agreement (Mohawk Group Holdings, Inc.)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by BorrowersBorrower, by mandatory prepayment by Borrower, by reason of the occurrence of an Event of Default or the acceleration of the Term Loans, or otherwise), or if the Term Loans Loan shall become accelerated (including any automatic acceleration due to the occurrence of an Event of Default described in Section 10.1(f)) or otherwise) and due and payable in full, Borrowers shall pay to AgentTerm Loan Servicer, for the benefit of all Term Lenders committed to make Term Loan advancesin accordance with their Pro Rata Shares, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of the Term Loans shall be equal to an amount determined by multiplying the amount of the Term Loans being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (wx) three and a half percent (3.503.00%) for the first year following the Closing Date Date, (xy) two and a half percent (2.502.00%) for the second year following the Closing Date, (y) one and a half percent (1.50%) for the third year following the Closing Date and (z) zero one percent (0.01.00%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (iiiii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans prior to the Maturity Date by all of the Lenders). All fees payable pursuant to this paragraph shall be deemed fully earned as of the Closing Date and non-refundable as of the Closing Dateonce paid.
Appears in 1 contract
Sources: Credit, Security and Guaranty Agreement (Apyx Medical Corp)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary or mandatory prepayment by BorrowersBorrower, by reason of the occurrence of an Event of Default or the acceleration of the Term Loans, or otherwise), or if the Term Loans Loan shall become accelerated (including any automatic acceleration due to the occurrence of an Event of Default described in Section 10.1(f)) or otherwise) and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee shall be equal to an amount determined by multiplying the amount of the Term Loans being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (wx) three and a half percent (3.503.0%) for the first year following the Closing Date Date, (xy) two and a half percent (2.502.0%) for the second year following the Closing Date, (y) one and a half percent (1.50%) for the third year following the Closing Date and (z) zero one percent (0.01.0%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans in full prior to the Maturity Date by all Agent or an Affiliate of the LendersAgent. All fees payable pursuant to this paragraph shall be deemed fully fully-earned and non-refundable as of the Closing Date.
Appears in 1 contract
Sources: Credit and Security Agreement (Term Loan) (Alpha Teknova, Inc.)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by Borrowers, by reason of the occurrence of an Event of Default or the acceleration of the Term LoansLoan, or otherwise), or if the Term Loans Loan shall become accelerated and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of the Term Loan shall be equal to an amount determined by multiplying the amount of the Term Loans being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (w) three and a half percent (3.503.0%) for the first year following the Closing Date Third Amendment Effective Date, (x) two and a half percent (2.502.0%) for the second year following the Closing Third Amendment Effective Date, (y) one and a half percent (1.50%) for the third year following the Closing Date and (z) zero percent (0.01.0%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans prior to the Maturity Date by all of the Lenders). All fees payable pursuant to this paragraph shall be deemed fully earned and non-refundable as of the Closing Date.”
(f) Section 3.25(d) of the Credit Agreement is hereby deleted in its entirety and restated to read as follows:
Appears in 1 contract
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by Borrowers, by reason of the occurrence of an Event of Default or the acceleration of the Term LoansLoan, or otherwise), or if the Term Loans Loan shall become accelerated and due and payable in fullfull or if the Lenders’ funding obligations in respect of any unfunded portion of the Term Loan shall terminate prior to the Commitment Expiry Date, Borrowers shall pay to Administrative Agent, for the benefit of all Lenders committed to make Term Loan advancesadvances on the Closing Date, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee shall be equal to an amount determined by multiplying the principal amount of the Term Loans Loan being prepaid multiplied by the following applicable percentage amount: (wi) three and a half four percent (3.504.0)% if prepaid prior to the first anniversary of the Closing Date; (ii) two percent (2.0%) for if prepaid on or after the first year following anniversary of the Closing Date , (x) two and a half percent (2.50%) for but prior to the second year following anniversary of the Closing Date, ; and (yiii) one and a half percent (1.501.0%) for if prepaid on or after the third year following second anniversary of the Closing Date and (z) zero percent (0.0%) thereafterbut prior to the date on which the final amortization payment is due. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers (A) if such payments were (x) required by Administrative Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), ) or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) ); or (yB) made due to on M▇▇▇▇▇▇ ▇▇▇▇▇’▇ Term Loan Commitment Percentage of the Term Loans Loan being paid repaid in full as a result of a connection with the refinancing of the Term Loans prior to the Maturity Date by all of the Lendersa debt facility underwritten by M▇▇▇▇▇▇ L▇▇▇▇. All fees payable pursuant to this paragraph shall be deemed fully earned and non-refundable as of the Closing Date.
Appears in 1 contract
Sources: Credit and Security Agreement (NxStage Medical, Inc.)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by Borrowers, by reason of the occurrence of an Event of Default or the acceleration of the Term LoansDefault, or otherwise)) prior to its scheduled maturity date as provided for under Schedule 2.1 attached hereto, or if the Term Loans Loan shall become accelerated and due and payable in fullfull prior to the Commitment Expiry Date, Borrowers shall pay to Administrative Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee shall be equal to an amount determined by multiplying three percent (3.00%) of the amount of the Term Loans being prepaid by the following applicable percentage amount: (w) three and a half percent (3.50%) for the first year following the Closing Date , (x) two and a half percent (2.50%) for the second year following the Closing Date, (y) one and a half percent (1.50%) for the third year following the Closing Date and (z) zero percent (0.0%) thereafterat any time. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Administrative Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate), subpart (iii) (relating to asset dispositions) (unless, in the case of such subpart (iii), Borrower and Administrative Agent and Lenders have agreed otherwise in connection with any consent granted by Administrative Agent and/or Lenders to any asset dispositions not otherwise permitted under this Agreement) or subpart (yiv) made due (relating to the Term Loans being paid in full as a result of a refinancing of the Term Loans prior to the Maturity Date by all of the LendersExtraordinary Receipts). All fees payable pursuant to this paragraph shall be deemed fully earned and non-refundable as of the Closing Date.
Appears in 1 contract
Sources: Credit and Security Agreement (Orexigen Therapeutics, Inc.)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason part (whether by voluntary prepayment or mandatory prepayment by Borrowers, by reason the Borrower (including a mandatory prepayment due to an acceleration of the Term Loan following an Event of Default (including any automatic acceleration due to the occurrence of an Event of Default or the acceleration of the Term Loans, or otherwisedescribed in Section 10.1(f))), but excluding any mandatory prepayment described in the penultimate sentence of this Section 2.2(h)) or if the Term Loans shall become accelerated and otherwise becomes due and payable in fullfull prior to the Maturity Date, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee shall be equal to an amount determined by multiplying the amount of the Term Loans being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (wx) three and a half percent (3.503.0%) for the first year following the Closing Date Date, (xy) two and a half percent (2.502.0%) for the second year following the Closing Date, (y) one and a half percent (1.50%) for the third year following the Closing Date and (z) zero one percent (0.01.0%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans prior to the Maturity Date by all of the Lenders). All fees payable pursuant to this paragraph shall be deemed fully earned as of the Closing Date and non-refundable as of the Closing Dateonce paid.
Appears in 1 contract
Sources: Credit and Security Agreement (Term Loan) (Treace Medical Concepts, Inc.)
Prepayment Fee. If any advance under Borrower agrees that if the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by BorrowersBorrower, by reason of the occurrence of an Event of Default or the acceleration of the Term Loans, including upon the occurrence of an insolvency proceeding of any Loan Party, or otherwise), or if the Term Loans shall become accelerated and due and payable in full, Borrowers Borrower shall pay to Administrative Agent, for the benefit account the account of all the Lenders committed to make Term Loan advancesin accordance with their Pro Rata Share, as compensation for the costs of such Administrative Agent and Lenders making funds available to Borrowers Borrower under this Agreement, a prepayment fee (the “each, a “ Prepayment Fee”) calculated in accordance with this Section 5.1. Each Prepayment Fee shall be equal to an amount determined by multiplying the principal amount of the Term Loans being prepaid by the following applicable percentage amount: (wi) three and a half four percent (3.504%) for the first year following the Closing Date , if such prepayment occurs within twelve (x12) two and a half percent (2.50%) for the second year following months after the Closing Date, (yii) one and a half three percent (1.503%) for the third year following if such prepayment occurs at any time twelve (12) months after the Closing Date but less than twenty-four (24) months after the Closing Date, and (ziii) zero two percent (0.02%) thereafterif such prepayment occurs at any time twenty-four (24) months after the Closing Date but less than thirty-six (36) months after the Closing Date. The Notwithstanding the foregoing, no Prepayment Fee shall not apply be applicable to or be assessed upon any a voluntary prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans prior to Loan made with the Maturity Date by all Net Cash Proceeds arising from the sale of the Lenders. All fees payable pursuant to this paragraph shall be deemed fully earned and non-refundable as Borrower’s investment in BriefCam Ltd., provided such voluntary prepayment is made within ten (10) days of the Closing Dateconsummation of such sale.
Appears in 1 contract
Sources: Term Loan Credit Agreement
Prepayment Fee. If any advance under the Term Loans is prepaid at any time, in whole or in part, for any reason (whether by voluntary prepayment by BorrowersBorrower, by mandatory prepayment by Borrower, by reason of the occurrence of an Event of Default or the acceleration of the Term Loans, or otherwise), or if the any Term Loans Loan shall become accelerated (including any automatic acceleration due to the occurrence of an Event of Default described in Section 10.1(f)) or otherwise) and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee in respect of the Term Loans shall be equal to an amount determined by multiplying the amount of the Term Loans being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (w) three and a half percent (3.503.00%) for the first year following the Closing Date Date, (x) two and a half percent (2.502.00%) for the second year following the Closing Date, (y) one and a half percent (1.501.00%) for the third year following the Closing Date Date, and (z) zero percent (0.00.00%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans prior to the Maturity Date by all of the Lenders). All fees payable pursuant to this paragraph shall be deemed fully earned when due and payable and non-refundable as of the Closing Dateonce paid.
Appears in 1 contract
Sources: Credit, Security and Guaranty Agreement (Term Loan) (Xtant Medical Holdings, Inc.)
Prepayment Fee. If any advance under the Term Loans Loan is prepaid at any time, in whole or in part, for any reason (whether by voluntary or mandatory prepayment by BorrowersBorrower, by reason of the occurrence of an Event of Default or the acceleration of the Term Loans, or otherwise), or if the Term Loans Loan shall become accelerated (including any automatic acceleration due to the occurrence of an Event of Default described in Section 10.1(f)) or otherwise) and due and payable in full, Borrowers shall pay to Agent, for the benefit of all Lenders committed to make Term Loan advances, as compensation for the costs of such Lenders making funds available to Borrowers under this Agreement, a prepayment fee (the “Prepayment Fee”) calculated in accordance with this subsection. The Prepayment Fee shall be equal to an amount determined by multiplying the amount of the Term Loans being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (wx) three and a half four percent (3.504.00%) for the first year following the Closing Date Date, (xy) two and a half three percent (2.503.00%) for the second year following the Closing Date, (y) one and a half percent (1.50%) for the third year following the Closing Date and (z) zero two percent (0.02.00%) thereafter. The Prepayment Fee shall not apply to or be assessed upon any prepayment made by Borrowers if such payments were (x) required by Agent to be made pursuant to Section 2.1(a)(ii)(B) subpart (i) (relating to casualty proceeds), or subpart (ii) (relating to payments exceeding the Maximum Lawful Rate) ), or (y) made due to the Term Loans being paid in full as a result of a refinancing of the Term Loans in full prior to the Maturity Date by all Agent or an Affiliate of the LendersAgent. All fees payable pursuant to this paragraph shall be deemed fully fully-earned and non-refundable as of the Closing Date.
Appears in 1 contract
Sources: Credit and Security Agreement (Alpha Teknova, Inc.)