Common use of Yield Maintenance Clause in Contracts

Yield Maintenance. (a) Subject to the terms of the Subordination Agreement, to the extent that any Lender or Agent makes any claim for additional payments pursuant to the terms of Section 2.10 of the Senior Financing Agreement, Holder shall be entitled to receive any such additional payments to the extent such additional payments would be due to Holder if it were a Lender under the Senior Financing Agreement. (b) Following an Additional Term Loan Rollover, if (x) this Note is accelerated (or deemed accelerated) while the Additional Term Loan remains outstanding, (y) the Issuer repays the Additional Term Loan in full in cash, or (z) the Issuer repays or is required to pay the Additional Term Loan in whole or in part, including, without limitation, as a voluntary or mandatory prepayment, as a result of an acceleration (including an automatic acceleration) of this Note after the occurrence of an Event of Default or upon the commencement of any proceeding pursuant to any Debtor Relief Law, or as a result of any refinancing of the Note, then on the effective date of such payment, the Issuer shall pay to the Holder a prepayment premium equal to (i) if such payment occurs on or prior to December 28, 2019, $400,000, (ii) if such payment occurs following December 28, 2019 and on or prior to December 28, 2020, $300,000 and (iii) if such payment occurs following December 28, 2020, $130,000.

Appears in 1 contract

Samples: Subordination Agreement (Cherokee Inc)

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Yield Maintenance. (a) Subject to the terms of the Subordination Agreement, to the extent that any Lender or Agent makes any claim for additional payments pursuant to the terms of Section 2.10 of the Senior Financing Agreement, Holder shall be entitled to receive any such additional payments to the extent such additional payments would be due to Holder if it were a Lender under the Senior Financing Agreement. (b) Following an Additional Term Loan Rollover, if (x) this Note is accelerated (or deemed accelerated) while the Additional Term Loan remains outstanding, (y) the Issuer repays the Additional Term Loan in full in cash, or (z) the Issuer repays or is required to pay the Additional Term Loan in whole or in part, including, without limitation, as a voluntary or mandatory prepayment, as a result of an acceleration (including an automatic acceleration) of this Note after the occurrence of an Event of Default or upon the commencement of any proceeding pursuant to any Debtor Relief Law, or as a result of any refinancing of the Note, then on the effective date of such payment, the Issuer shall pay to the Holder a prepayment premium equal to (i) if such payment occurs on or prior to December 28, 2019, $400,00088,880, (ii) if such payment occurs following December 28, 2019 and on or prior to December 28, 2020, $300,000 66,660 and (iii) if such payment occurs following December 28, 2020, $130,00028,886.

Appears in 1 contract

Samples: Subordination Agreement (Cherokee Inc)

Yield Maintenance. (a) Subject to the terms of the Subordination Agreement, to the extent that any Lender or Agent makes any claim for additional payments pursuant to the terms of Section 2.10 of the Senior Financing Agreement, Holder shall be entitled to receive any such additional payments to the extent such additional payments would be due to Holder if it were a Lender under the Senior Financing Agreement. (b) Following an Additional Term Loan Rollover, if (x) this Note is accelerated (or deemed accelerated) while the Additional Term Loan remains outstanding, (y) the Issuer repays the Additional Term Loan in full in cash, or (z) the Issuer repays or is required to pay the Additional Term Loan in whole or in part, including, without limitation, as a voluntary or mandatory prepayment, as a result of an acceleration (including an automatic acceleration) of this Note after the occurrence of an Event of Default or upon the commencement of any proceeding pursuant to any Debtor Relief Law, or as a result of any refinancing of the Note, then on the effective date of such payment, the Issuer shall pay to the Holder a prepayment premium equal to (i) if such payment occurs on or prior to December 28, 2019, $400,00066,640, (ii) if such payment occurs following December 28, 2019 and on or prior to December 28, 2020, $300,000 49,980 and (iii) if such payment occurs following December 28, 2020, $130,00021,658.

Appears in 1 contract

Samples: Subordination Agreement (Cherokee Inc)

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Yield Maintenance. (a) Subject to the terms of the Subordination Agreement, to the extent that any Lender or Agent makes any claim for additional payments pursuant to the terms of Section 2.10 of the Senior Financing Agreement, Holder shall be entitled to receive any such additional payments to the extent such additional payments would be due to Holder if it were a Lender under the Senior Financing Agreement. (b) Following an Additional Term Loan Rollover, if (x) this Note is accelerated (or deemed accelerated) while the Additional Term Loan remains outstanding, (y) the Issuer repays the Additional Term Loan in full in cash, or (z) the Issuer repays or is required to pay the Additional Term Loan in whole or in part, including, without limitation, as a voluntary or mandatory prepayment, as a result of an acceleration (including an automatic acceleration) of this Note after the occurrence of an Event of Default or upon the commencement of any proceeding pursuant to any Debtor Relief Law, or as a result of any refinancing of the Note, then on the effective date of such payment, the Issuer shall pay to the Holder a prepayment premium equal to (i) if such payment occurs on or prior to December 28, 2019, $400,000244,480, (ii) if such payment occurs following December 28, 2019 and on or prior to December 28, 2020, $300,000 183,360 and (iii) if such payment occurs following December 28, 2020, $130,00079,456.

Appears in 1 contract

Samples: Subordination Agreement (Cherokee Inc)

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