Commitment Reduction Fee. With respect to any reduction of the Facility Amount pursuant to Section 2.3(a), an amount equal to the product of (a) the amount of such reduction multiplied by (b) the applicable Commitment Reduction Percentage.
Commitment Reduction Fee has the meaning assigned to such term in the Lender Fee Letter.
Commitment Reduction Fee shall have the meaning given such term set forth in Subsection 2.7(C).
Examples of Commitment Reduction Fee in a sentence
If applicable, the Borrower shall pay to the Lenders, for their own use and benefit, the Commitment Reduction Fee in connection with any optional reduction of the Facility Amount, subject to and in accordance with the Lender Fee Letter.
Another risk is linked to the takeover of the product and its sale under the foreign company’s brand name when the product is not protected because it involves high costs and adaptation at the laws of the foreign country.Developing and increasing the reputation of a brand on a foreign market might be difficult for SMEs due to limited financial resources and the lack of information from that market.An important disadvantage of SMEs is linked to the limited access at production certification.
If the Borrowers shall terminate or reduce the Commitment in whole or in part at any time or times prior to the first anniversary of the date of this Agreement, at the effective date of each such termination or reduction they shall pay to the Lenders a Commitment Reduction Fee; provided, however, that the Borrowers shall not be required to pay a Commitment Reduction Fee more than once on the same reduced portion of the Commitment.
SVB and Borrower acknowledge and agree that payment of the Revolving Commitment Reduction Fee described in Section 2.10(c) of the Existing Credit Facility is waived in its entirety.
SECTION 3.1. Pursuant to Section 2.3(a)(ii) of the Loan and Security Agreement, the Borrower and each Class B Lender hereby agrees to permanently and irrevocably reduce the Class B Commitments to $0 and agrees that the related Commitment Reduction Fee is $0.
More Definitions of Commitment Reduction Fee
Commitment Reduction Fee means the fee payable to the Lenders upon any reduction or termination of the Commitment that becomes effective prior to the first anniversary of the date of this Agreement, as determined in Section 2.09 hereof.
Commitment Reduction Fee. With respect to any reduction of the Facility Amount in whole or in part pursuant to Section 2.3(a), an amount equal to the product of (a)(x) the Facility Amount, in the case of a termination of the Facility Amount, or (y) the amount of such reduction multiplied by (b)(x) in the case of a reduction occurring from the Closing Date to but excluding the twelve-month anniversary of the Closing Date, 2.00%, (y) in the case of a reduction occurring from and including the twelve-month anniversary of the Closing Date to but excluding the twenty-four month anniversary of the Closing Date, 1.00%, or (z) in the case of a reduction occurring on or after the twenty-four month anniversary of the Closing Date, 0.00%.
Commitment Reduction Fee. With respect to any reduction of the Facility Amount pursuant to Section 2.3(a), an amount equal to the product of (a) the amount of such reduction multiplied by (b)(x) from the Closing Date to the twelve-month anniversary of the Closing Date, 2.0%, (y) from the twelve-month anniversary of the Closing Date to the twenty four-month anniversary of the Closing Date, 1.0% and (z) thereafter, 0.0%; provided that no Commitment Reduction Fee shall be due and payable if such reduction occurs (x) while an Agent Approval Failure has occurred and is continuing, (y) to reduce any Commitment of a Lender requiring payment under Section 2.12 as a result of increased costs of the transaction or (z) following the acceleration of the Obligations following an Event of Default resulting from a breach of Sections 4.1(bb) or (cc), Section 4.3(l), Section 4.5(a), Sections 5.1(o)(viii) or (x), Section 5.2(l), Section 5.3(l), Section 5.3(m), Section 5.4(d) or Sections 5.7(a)(ii), (c) or (d).
Commitment Reduction Fee. With respect to any termination in whole or reduction in part of the Facility Amount during the Revolving Period, the sum of:
Commitment Reduction Fee. With respect to any reduction of the Facility Amount pursuant to Section 2.3(a), an amount equal to the product of (i) the amount of such reduction multiplied by (ii) the applicable Commitment Reduction Percentage. “Commitment Reduction Percentage”: On any date (a) on or prior to the second anniversary of the ThirdFourth Amendment Closing Date, the Asset Rejection Percentage is less than or equal to 50%, and (i) if such date is on or prior to the first anniversary of the ThirdFourth Amendment Closing Date, 2.00% or (ii) if such date is after the first anniversary of the ThirdFourth Amendment Closing Date, a percentage equal to the product of (x) the number of days remaining until the two-year anniversary of the ThirdFourth Amendment Closing Date divided by 365 and (y) 1.00% and (b) where either the Asset Rejection Percentage is greater than 50% or such date is after the second anniversary of the ThirdFourth Amendment Closing Date, zero percent. “Conforming Changes”: With respect to the use or administration of Daily Simple SOFR or the use, administration, adoption or implementation of any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “Base Rate,” the definition of “Business Day,” the definition of “Accrual Period” or any similar or analogous definition (or the addition of a concept of “interest period”), timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of Section 2.12 and other technical, administrative or operational matters) that the Administrative Agent decides (in consultation with the Borrower) may be appropriate to reflect the adoption and implementation of any such rate or to permit the use and administration thereof USActive 55525956.
Commitment Reduction Fee means a fee equal to two and one-half percent (2.5%) of the Commitment as of the Amendment Date, payable to the Agent for the ratable benefit of the Lenders, subject to a single reduction in accordance with the following table: Commitment Amount By 7/31/00 By 8/31/00 Less than $100,000,000 10% 5% Less than $75,000,000 20% 15% Less than $50,000,000 30% 25% $0 40% 35% The Commitment Reduction Fee shall be reduced in accordance with the highest percentage corresponding to the level of the reduction of the Commitment attained by the Borrower. As an example, if the Borrower reduces the Commitment by July 31, 2000 to an amount less than $100,000,000 but greater than $75,000,000, the Commitment Reduction Fee shall be reduced by 10%. If the Borrower then reduces the Commitment to less than $75,000,000 but greater than $50,000,000 by August 31, 2000, the total aggregate reduction in the Commitment Reduction Fee shall be 15%."
Commitment Reduction Fee. With respect to any reduction of the Facility Amount pursuant to Section 2.3(a), an amount equal to the product of (a) the amount of such reduction multiplied by (b) the applicable Commitment Reduction Percentage; provided, that no Commitment Reduction Fee shall be payable with respect to any reduction of the Facility Amount in connection with a securitization involving the Collateral. “Commitment Reduction Percentage”: (a) On or prior to the first anniversary of the First Amendment Closing Date, 2.00% and (b) after the first anniversary of the First Amendment Closing Date, and on or prior to the second anniversary of the FirstSecond Amendment Closing Date, 1.00%. “Contractual Obligation”: With respect to any Person, any provision of any securities issued by such Person or any mortgage, deed of trust, contract, undertaking, agreement, instrument or other material document to which such Person is a party or by which it or any of its property is bound or to which either is subject. “Corporate Trust Office”: The applicable designated corporate trust office of the Collateral Agent specified on Annex A hereto, or such other address within the United States as the Collateral Agent may designate from time to time by at least 30 days prior written notice to the Administrative Agent. “Covered Party”: Any Secured Party that is one of the following: (i) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. §252.82(b); (ii) a -15-