Common use of Termination and Line Reduction Fees Clause in Contracts

Termination and Line Reduction Fees. If the Credit Facility is terminated (i) by the Lender during a Default Period that begins before a Maturity Date, (ii) by the Borrower (A) as of a date other than a Maturity Date or (B) as of a Maturity Date but without the Lender having received written notice of such termination at least 90 days before such Maturity Date, or if the Borrower reduces the Maximum Line, the Borrower shall pay to the Lender a fee in an amount equal to a percentage of the Maximum Line (or the reduction of the Maximum Line, as the case may be) as follows: (A) two percent (2.0%) if the termination or reduction occurs on or before September 30, 2004; and (B) one percent (1.0%) if the termination or reduction occurs after September 30,

Appears in 3 contracts

Samples: Credit and Security Agreement (Metretek Technologies Inc), Credit and Security Agreement (Metretek Technologies Inc), Credit and Security Agreement (Metretek Technologies Inc)

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Termination and Line Reduction Fees. If the Credit Facility is terminated (i) by the Lender during a Default Period that begins before a Maturity Date, (ii) or by the Borrower Borrowers (Ai) as of a date other than a Maturity Date or (Bii) as of a Maturity Date but without the Lender having received written notice of such termination at least 90 days before such Maturity Date, or if the Borrower reduces Borrowers reduce the Maximum Line, the Borrower Borrowers shall pay to the Lender a fee in an amount equal to a percentage of the Maximum Line (or the reduction of the Maximum Line, as the case may be) as follows: (A) two percent (2.02%) if the termination or reduction occurs on or before September November 30, 20042002; and (B) one percent (1.01%) if the termination or reduction occurs after September November 30,, 2002 but on or before November 30, 2003; and (C) one-half of one percent (0.50%) if the termination or reduction occurs after November 30, 2003.

Appears in 1 contract

Samples: Credit and Security Agreement (Leather Factory Inc)

Termination and Line Reduction Fees. If the Credit Facility is terminated (i) by the Lender during a Default Period that begins before a Maturity Date, (ii) by the Borrower (A) as of a date other than a Maturity Date or (B) as of a Maturity Date but without the Lender having received written notice of such termination at least 90 days before such Maturity Date, or if the Borrower reduces the Maximum Line, the Borrower shall pay to the Lender a fee in an amount equal to a percentage of the Maximum Line (or the reduction of the Maximum Line, as the case may be) as follows: (A) two percent (2.0%) if the termination or reduction occurs on or before September 30January 31, 20042007; and (B) one percent (1.0%) if the termination or reduction occurs after September 30,January 31, 2007.

Appears in 1 contract

Samples: Credit and Security Agreement (Zila Inc)

Termination and Line Reduction Fees. If the Credit Facility is terminated (i) by the Lender during a Default Period that begins before a Maturity Date, (ii) by the Borrower (A) as of a date other than a Maturity Date or (B) as of a Maturity Date but without the Lender having received written notice of such termination at least 90 days before such Maturity Date, or if the Borrower reduces the Maximum Line, the Borrower shall pay to the Lender a fee in an amount equal to a percentage of the Maximum Line (or the reduction of the Maximum Line, as the case may be) as follows: (A) two percent (2.0%) if the termination or reduction occurs on or before September June 30, 20042006; and (B) one percent (1.0%) if the termination or reduction occurs after September June 30,, 2006.”

Appears in 1 contract

Samples: Credit and Security Agreement (Corsair Components, Inc.)

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Termination and Line Reduction Fees. If the Credit Facility is terminated (i) by the Lender during a Default Period that begins before a Maturity Date, (ii) by the Borrower (A) as of a date other than a Maturity Date or (B) as of a Maturity Date but without the Lender having received written notice of such termination at least 90 days before such Maturity Date, or if the Borrower reduces the Maximum Line, the Borrower shall pay to the Lender a fee in an amount equal to a percentage of the Maximum Line (or the reduction of the Maximum Line, as the case may be) as follows: (A) two percent (2.0%) if the termination or reduction occurs on or before September June 30, 20042007; and (B) one percent (1.0%) if the termination or reduction occurs after September 30,anytime thereafter.

Appears in 1 contract

Samples: Credit and Security Agreement (Corsair Components, Inc.)

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