Commitment Reduction Fee definition

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

• The Borrowers may terminate the Commitment in whole or reduce the Commitment in part upon thirty (30) days' prior written notice to the Administrative Agent, and on the date so specified for termination or reduction of the Commitment, all outstanding Advances in excess of the Commitment Amount as so reduced, accrued interest, charges, any Commitment Reduction Fee, and other amounts owing to the Lenders and the Agents will be due Credit Agreement and payable in full.

• 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.

• The City of Chiloquin is actively monitoring and pursuing rapidly emerging opportunities to bring broadband to our isolated rural community.

• 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 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 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) 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-

Commitment Reduction Fee has the meaning assigned to such term in the Lender Fee Letter. “Commitment Termination Date” means the last day of the Reinvestment Period. “Concentration Limitations” means, as of any date of determination, the following limitations applied to the Aggregate Collateral Balance (calculated pursuant to clause (a) and (b) under such definition) of the Eligible Loans owned (or, in relation to a proposed purchase of a Loan, proposed to be owned) by the Borrower, and calculated as a percentage of the Aggregate Collateral Balance in accordance with the procedures set forth in Section 1.04: (a) not more than 5.0% consists of DIP Collateral Obligations; (b) not more than 5.0% consists of Eligible Second Lien Obligations; (c) not more than 30.0% consists of Eligible Loans with Obligors in any Moody’s Industry Classification; (d) not more than (i) 15.0% consists of Eligible Loans the Obligor of which, together with any Affiliates thereof, is the Obligor of the largest percentage of the Aggregate Collateral Balance, (ii) 12.0% consists of Eligible Loans the Obligor of which, together with any Affiliates thereof, is the Obligor of the 2nd largest percentage of the Aggregate Collateral Balance, and (iii) so long as there are at least ten (10) individual Obligors with respect to the Eligible Loans, 40.0% consists collectively of Eligible Loans the Obligors of which, together with any Affiliates thereof, are the Obligors of the 1st, 2nd, 3rd and 4th largest percentage of the Aggregate Collateral Balance; (e) not more than 40.0% consists of Eligible Loans (excluding Real Estate Loans and Specialty Finance Loans, which shall not be required to have a Risk Factor Rating) that have a Risk Factor Rating of greater than 3490; (f) not more than 5.0% consists of Eligible Loans (excluding Real Estate Loans and Specialty Finance Loans, which shall not be required to have a Risk Factor Rating) that have a Risk Factor Rating of greater than 4770; (g) not more than 15.0% consists of Eligible Loans (excluding Recurring Revenue Loans) that have an Obligor with a TTM EBITDA of less than $7,500,000; (h) not more than 40.0% consists of Recurring Revenue Loans; (i) not less than 70.0% consists of Eligible First Lien Obligations, including Covenant Lite Loans and Recurring Revenue Loans, but excluding ABL Loans;

Commitment Reduction Fee. With respect to any reduction of the Facility Amount or termination of the Commitments prior to February 6, 2022, an amount equal to the product of (a) the Maximum Facility Amount multiplied by (b) 2.00%.