Facility Reduction Fee definition

Facility Reduction Fee has the meaning assigned to such term in the Lender Fee Letter.
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Facility Reduction Fee means an amount equal to (i) two percent (2.0%) of the amount of each reduction of the Facility Cap that occurs on or prior to February 28, 2008, and (ii) one percent (1.0%) of the amount of each reduction of the Facility Cap that occurs after February 28, 2008 and on or prior to February 28, 2009.
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Facility Reduction Fee see Section 2.7(d).
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Examples of Facility Reduction Fee in a sentence

  • Notwithstanding the foregoing, if the Borrower permanently reduces the Maximum Facility Limit to zero and terminates the Commitments in connection with a refinancing of the Facility or a securitization transaction involving substantially all of the Collateral and all of the Lenders participate in such refinancing or securitization, then no Facility Reduction Fee shall apply.


More Definitions of Facility Reduction Fee

Facility Reduction Fee has the meaning assigned to such term in the Lender Fee Letter. “Facility Termination Date” means the last day of the Reinvestment Period (as and to the extent extended in accordance with Section 2.16). “FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any related provisions of law, court decisions or administrative guidance, any treaty or intergovernmental agreement between the United States and another taxing jurisdiction, any implementing legislation, regulations, guidance notes or rules in respect of any intergovernmental agreement, and any agreement entered into with a taxing authority under or with respect to any of the foregoing. “Federal Funds Rate” means, for any period, a fluctuating interest rate per annum equal for each day during such period to the weighted average of the rates on overnight federal funds transactions with members of the Federal Reserve System arranged by federal funds brokers, as published for such day (or, if such day is not a Business Day, for the next preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day, the average of the quotations for such day on such transactions received by the Administrative Agent from three federal funds brokers of recognized standing selected by it; provided that, if at any time a Lender is borrowing overnight funds from a Federal Reserve Bank that day, the Federal Funds Rate for such Lender for such day shall be the average rate per annum at which such overnight borrowings are made on that day as promptly reported by such Lender to the Borrower and the Agents in writing; provided, further, that if the Federal Funds Rate is less than zero, such rate shall be deemed to be zero for purposes of this Agreement. Each determination of the Federal Funds Rate by a Lender pursuant to the foregoing proviso shall be conclusive and binding except in the case of manifest error. “Fee Basis Amount” means, for any Payment Date, an amount equal to the arithmetic mean of (i) the Aggregate Principal Balance of all Eligible Collateral Loans plus (ii) the Principal Proceeds and Eligible Investments made with Principal Proceeds on deposit in the Collection Account, in each case, on the first day and on the last day of the related Interest Accrual Period. “Final Maturity Date” means th...
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Facility Reduction Fee is defined in Section 2.06(d) of this Agreement.
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Related to Facility Reduction Fee

  • Facility Fee has the meaning specified in Section 2.09(a).

  • Maximum Revolving Advance Amount means $30,000,000.

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances outstanding.

  • Maximum Facility Amount means the aggregate Commitments as then in effect, which amount shall not exceed $200,000,000; provided that at all times after the Reinvestment Period, the Maximum Facility Amount shall mean the aggregate Advances Outstanding at such time.

  • Administrative Fee is defined in Section 4.1(a).

  • Net advance amount means the gross advance amount less the aggregate amount of the actual and estimated transfer expenses required to be disclosed under section 3(e).