Termination or Reduction Fee. The County shall pay to the Purchaser a Reduction Fee or Termination Fee in connection with each permanent reduction or termination of the Available Commitment or Commitment, as applicable, pursuant to Section 2.01(h) of the Agreement occurring after the date hereof and prior to the first anniversary of the Extension Date, in an amount equal to the Reduction Fee or Termination Fee, as applicable, payable on the date of such termination or each such reduction. Notwithstanding the foregoing or any provision in the Agreement to the contrary, the County may terminate or permanently reduce the Available Commitment or the Commitment at any time without payment of the Termination Fee or Reduction Fee, as applicable, in the event the Available Commitment or the Commitment is terminated or permanently reduced as a result of (i) the Purchaser imposing increased costs on the County pursuant to Section 3.05 of the Agreement, (ii) the interest rate on the Tax-Exempt Notes being increased solely as a result of a change in the Margin Rate Factor (as defined in the Supplemental Trust Agreement) or (iii) after the date on which any Tax-Exempt Notes are issued, such Notes subsequently bear interest at the Taxable Rate.
Termination or Reduction Fee. The Authority shall pay to the Lender, for the account of the Lender, a Reduction Fee or Termination Fee, as applicable, in connection with each permanent reduction or termination of the Available Commitment or Commitment pursuant to Section 2.7 hereof prior to the date which is twelve (12) months after the Effective Date, in an amount equal to the Reduction Fee or Termination Fee, as applicable, payable on the date of such termination or each such reduction; provided that no Reduction Fee or Termination Fee shall be payable if (i) the Lender has failed to honor a properly presented and conforming Request for Advance under this Agreement, (ii) the requests compensation for increased costs or taxes from the Authority under Sections 6.3 or 6.4 hereof, or (iii) a replacement index is being used in place of the index described in the first sentence of the definition of “SIFMA Index” and the Authority shall not have consented to such replacement index; provided, however, that the occurrence of any of the events described in the preceding clause (i), (ii) or (iii) shall not relieve the Authority from satisfying all other obligations due and owing hereunder.
Termination or Reduction Fee. The County shall pay to the Purchaser a Reduction Fee or Termination Fee in connection with each permanent reduction or termination of the Available Commitment or Commitment, as applicable, pursuant to Section 2.01(h) of the Agreement prior to the first anniversary of the Effective Date, in an amount equal to the Reduction Fee or Termination Fee, as applicable, payable on the date of such termination or each such reduction. Notwithstanding the foregoing or any provision in the Agreement to the contrary, the County may terminate or permanently reduce the Available Commitment or the Commitment at any time without payment of the Termination Fee or Reduction Fee, as applicable, in the event the Available Commitment or the Commitment is terminated or permanently reduced as a result of (i) the Bank imposing increased costs on the County pursuant to Section 3.05 of the Agreement or (ii) the interest rate on the Notes being increased solely as a result of a change in the Margin Rate Factor (as defined in the Supplemental Trust Agreement).
Termination or Reduction Fee. The Authority shall pay to the Purchasers a Reduction Fee or Termination Fee, as applicable, in connection with each permanent reduction or termination of the Available Commitment pursuant to Section 2.06 (Permanent Reduction and Termination of Available Commitment) prior to the Commitment Expiration Date, in an amount equal to the Reduction Fee or Termination Fee, as applicable, payable on the date of such termination or each such reduction.
Termination or Reduction Fee. If the Borrowers reduce or terminate the Revolving Credit Commitments in accordance with this Section 2.5 or Section 2.7(b), or if the Revolving Credit Commitments are terminated pursuant to Section 9.1, and if such reduction or termination occurs on or prior to the first anniversary of the Closing Date, the Borrowers shall pay to the Agent a fee in an amount equal to one percent (1%) of the amount of such reduction or, in the case of a termination of the Commitments, of the amount of the Commitments immediately prior to such termination.
Termination or Reduction Fee. The Authority shall pay to the Lender a Reduction Fee or Termination Fee, as applicable, in connection with each permanent reduction or termination of the Available Commitment or Commitment pursuant to Section 2.07 hereof prior to the first anniversary of the Effective Date, in an amount equal to the Reduction Fee or Termination Fee, as applicable, payable on the date of such termination or each such reduction; provided, however, that no Termination Fee shall become payable under this Section 1.5 if the Authority terminates or replaces the Letter of Credit pursuant to the terms hereof and of the Agreement as the result of (i) the Lender imposing increased costs pursuant to Section 2.07(a) of the Agreement or (ii) the Authority electing to refinance or refund the Advances, the Revolving Loans and the related Notes in full from long-term fixed rate indebtedness which does not involve the issuance by a bank or any other financial institution of a letter of credit, liquidity facility, credit facility or direct purchase agreement.
