Facility Termination Fee definition

Facility Termination Fee means, with respect to a reduction in either the Variable Facility Commitment or the Fixed Facility Commitment pursuant to Articles IX or X, an amount equal to the product obtained by multiplying--

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Facility Termination Fee. An amount equal to: (a) from the Closing Date, to and including the date that occurs 12 months after the Closing Date (or, if such day is not a Business Day, the next succeeding Business Day), the product of (i) 0.70% multiplied by (ii) the average balance of the Outstanding Funded Loans calculated for the six month period prior to such date of termination and (b) following the date that occurs 12 months after the Closing Date (or, if such day is not a Business Day, the next succeeding Business Day) but prior to the end of the Aggregation Period, the product of (i) 0.50% multiplied by (ii) the average balance of the Outstanding Funded Loans calculated for the six month period prior to such date of termination; provided that, no Facility Termination Fee shall be incurred in connection with a Permitted Termination.

Facility Termination Fee. An amount equal to: (a) from the Closing Date, to but including the date that occurs 12 months after the Closing Date (or, if such day is not a Business Day, the next succeeding Business Day), the product of (i) 0.01 times (ii) the Target Facility Par Amount or (b) following the date that occurs 12 months after the Closing Date (or, if such day is not a Business Day, the next succeeding Business Day), the product of (i) 0.0075 times (ii) the Target Facility Par Amount.

Examples of Facility Termination Fee in a sentence

No Facility Termination Fee shall be due in connection with any Conversion.
If Borrower pays the Standby Fee, no Commitment shall be reduced or terminated as a result of Borrower's failure to borrow any or all of such Commitment and no fee maintenance shall be due in respect of such Commitment unless Borrower fails to borrow any or all of such Commitment for 24 consecutive months (such that there are no Outstanding Advances), at which time the unused portion of the Commitment shall be terminated and all fees, including the Facility Termination Fee, shall be due at such time.
The Borrower shall pay in full all Notes Outstanding, and the required amount of the Release Fees and the required Credit Facility Termination Fee as a condition to the termination of the Master Agreement and the Credit Facility.
Any portion of the Fixed Facility Commitment not available to be advanced due to the inability of Borrower to satisfy the requirements for the Aggregate Loan to Value Ratio and the Aggregate Debt Service Coverage Ratio for a period of two (2) years shall be deemed terminated and the partial termination provisions (including payment of the Facility Termination Fee) set forth in Article 5 and Article 6 shall apply to such partial termination.
If Borrower pays the Standby Fee, no Commitment shall be reduced or terminated as a result of Borrower's failure to borrow any or all of such Commitment and no fee maintenance shall be due in respect of such Commitment unless Borrower fails to borrow any or all of such Commitment for 24 consecutive months, at which time the unused portion of the Commitment shall be terminated and all fees, including the Facility Termination Fee, shall be due at such time.
Any portion of the Variable Facility Commitment not available to be advanced due to the inability of Borrower to satisfy the requirements for the Aggregate Loan to Value Ratio and the Aggregate Debt Service Coverage Ratio for a period of two (2) years shall be deemed terminated and the partial termination provisions (including payment of the Facility Termination Fee) set forth in Article 5 and Article 6 shall apply to such partial termination.
Borrower shall pay in full all Notes Outstanding, and the required amount of the Release Fees and the required Facility Termination Fee as a condition to the termination of the Master Agreement and the Credit Facility.
The Subsequent Term Loan Facility Termination Fee shall be fully earned by Lender as of the Third Amendment Effective Date.
In addition, Borrower shall pay to Lender all other amounts, including any Credit Enhancement Termination Fees, if applicable, and prepayment premiums, due under the Bond Documents and Bond Mortgage Loan Documents relating to the Bond Property being released and any Facility Termination Fee payable in connection with the repayment of Advances.
Furthermore, in the event of Borrower’s election to terminate the Revolving Facility (other than on the Maturity Date), the Revolving Facility Termination Fee shall also become immediately due and payable unless the Borrower is simultaneously with such termination transferring the Revolving Facility to another division of the Bank, or replacing the Revolving Facility with another revolving credit facility with substantially equivalent terms with the Bank or another division of the Bank.