Third Amendment Fee Sample Clauses
The Third Amendment Fee clause establishes a specific fee that becomes payable in connection with the execution or effectiveness of a third amendment to an existing agreement. Typically, this fee is charged to the party requesting or benefiting from the amendment, and it may be a fixed amount or calculated as a percentage of the outstanding obligations. The core function of this clause is to compensate the other party for the administrative effort, legal review, or potential risk associated with modifying the original contract terms for a third time, thereby discouraging frequent amendments and ensuring that changes are made thoughtfully.
Third Amendment Fee. A fully earned and non-refundable third amendment fee in the amount of Two Hundred Thousand Dollars ($200,000.00), which shall become due and payable upon the earlier of: (i) the Maturity Date, (ii) the acceleration of any Term Loan, or (iii) the prepayment of a Term Loan pursuant to Section 2.2(c) or (d).
Section 13.1 of the Loan Agreement is hereby amended by adding the following definitions thereto in alphabetical order:
Third Amendment Fee. A fully earned, non-refundable amendment fee in an aggregate amount of One Hundred and Fifty Thousand Dollars ($150,000.00) to be shared between the Lenders in accordance with their respective Pro Rata Shares and due and payable on the Third Amendment Effective Date.”
2.3 Section 3.4 (Procedures for Borrowing). Section 3.4 of the Loan Agreement is amended and restated as follows:
Third Amendment Fee. On or prior to the Third Amendment Effective Date, the Borrowers shall pay to the Administrative Agent for the account of the Lenders, in accordance with their Pro Rata Shares, a nonrefundable amendment fee (the "Third Amendment Fee") equal to $125,000."
Third Amendment Fee. The Borrower agrees to pay a fee to the Lenders for their pro rata benefit of $50,000 for their entering into this Third Amendment ("Third Amendment Fee"). The Lenders agree that the Third Amendment Fee will be paid on August 1, 2006, unless the Majority Lenders are reasonably satisfied with the terms of a commitment to refinance the outstanding Loans, such commitment to be from a financial institution reasonably acceptable to the Majority Lenders. Upon satisfaction of such conditions, the Third Amendment Fee shall be waived in its entirety.
Third Amendment Fee. On or before April 20, 2013, GBS shall pay to IDT, a non-refundable, non-creditable, amendment fee of *********.
2. Appendix B of the Agreement is hereby deleted in its entirety and replaced with the following: GBS shall pay to IDT one of the following royalty rates on Net Sales of Licensed Products, in a time and manner consistent with Article 3.3 of the Agreement.
(1) Base Rate: ***** The Base Rate shall be the royalty rate if no additional license fees are paid by GBS to IDT other than those specified in 3.1 and 3.2 of the Agreement.
(2) Lower Rate: **** The Lower Rate shall be the royalty rate if on or before April 20, 2014, GBS pays to IDT ******* in addition to the fees paid by GBS to IDT specified in 3.1, 3.2 and 3.4 of the Agreement.
Third Amendment Fee. A fully earned, non-refundable amendment fee of Eight Hundred Twenty-Five Thousand Dollars ($825,000.00) (the “Third Amendment Fee”) to be shared between the Lenders pursuant to their respective Commitment Percentages due and payable on January 3, 2020;”
2.2 Section 10 (Notices). Borrower’s notice information in Section 10 of the Loan Agreement hereby is amended and restated as follows: “If to Borrower: DURECT Corporation ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇ Cupertino, CA 95014 Attn: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ Email: ▇▇▇▇.▇▇▇▇▇▇▇▇@▇▇▇▇▇▇.▇▇▇ with a copy (which shall not constitute notice) to: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ & ▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇ Attn: ▇▇▇▇▇▇▇ ▇▇▇▇ email: ▇▇▇▇▇@▇▇▇▇▇▇.▇▇▇”
2.3 Section 13.1 (Definitions). The following terms and their respective definitions hereby are added or amended and restated in their entirety, as applicable, to Section 13.1 of the Loan Agreement as follows:
Third Amendment Fee. A fully earned and non-refundable third amendment fee in the amount of Fifty Thousand Dollars ($50,000.00) to be shared between the Lenders pursuant to their respective Commitment Percentages which shall become due and payable upon the earlier of: (i) the Maturity Date, (ii) the acceleration of any Term Loan, or (iii) the prepayment of a Term Loan pursuant to Section 2.2(c) or (d).
4. The address for Collateral Agent and Oxford in Section 10 is hereby updated as follows: If to Collateral Agent or Oxford: OXFORD FINANCE LLC ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Attention: Legal Department Fax: (703) 519‑5225 Email: ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇
5. The address for Borrower in Section 10 is hereby updated as follows: If to Borrower: LOGIOBIO THERAPEUTICS, INC. ▇▇ ▇▇▇▇▇▇ ▇▇▇, ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Attn: ▇▇▇▇▇▇▇ ▇▇▇▇▇, Chief Financial Officer Fax: N/A. Email: ▇▇▇▇▇▇@▇▇▇▇▇▇▇▇.▇▇▇ with a copy (which shall not constitute notice) to: Ropes & ▇▇▇▇, LLP Prudential Tower, ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇ Attn: ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇ Email: ▇▇▇▇.▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇.▇▇▇
6. Section 13.1 of the Loan Agreement is hereby amended by amending and restating the following definitions therein as follows:
Third Amendment Fee. Borrower shall pay to Agent a fee equal to $175,000 (the "Third Amendment Fee") which shall be fully earned and due and payable on the date hereof.
Third Amendment Fee. As and when due hereunder, the Borrowers will pay to the Agent, for the benefit of the Second Revolving Credit Lenders, the Third Amendment Fee.
Third Amendment Fee. On the earlier of (i) the Original Incremental Closing Date and (ii) February 15, 2017, the Borrower Parties shall pay to the Administrative Agent, on behalf of each Existing Lender (as defined in the Third Amendment) that delivered an executed signature page to the Third Amendment, a non-refundable amendment fee in an amount equal to 0.375% of the unpaid principal balance of the Term Loans held by each such Existing Lender as of the Third Amendment Effective Date.”