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 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.
Sample 1
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.
Sample 1

Examples of Facility Termination Fee in a sentence

  • 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.

  • No Facility Termination Fee shall be due in connection with any Conversion.

  • 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.

  • 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.

  • 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 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.

  • 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.

  • 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.

  • The Borrower shall pay in full all Notes Outstanding and the required Facility Termination Fee as a condition to the termination of the Master Agreement and the Credit Facility.

Related to Facility Termination Fee

  • Company Termination Fee has the meaning set forth in Section 7.3(a).

  • Termination Fee Event has the meaning ascribed thereto in Section 5.2(a);

  • Facility Termination Date means the date as of which all of the following shall have occurred: (a) the Aggregate Commitments have terminated, (b) all Obligations have been paid in full (other than contingent indemnification obligations), and (c) all Letters of Credit have terminated or expired (other than Letters of Credit as to which other arrangements with respect thereto satisfactory to the Administrative Agent and the L/C Issuer shall have been made).

  • Revolving Facility Termination Date means the earlier of (i) January 29, 2013, or (ii) the date that the Commitments have been terminated pursuant to Section 8.02.

  • Parent Termination Fee has the meaning set forth in Section 7.3(b).

  • Termination Fee has the meaning set forth in Section 7.02(a).

  • Term Loan Termination Date means the earlier to occur of (a) the Term Loan Maturity Date and (b) the acceleration of the Term Loans in accordance with the terms hereof.

  • Early Termination Fee has the meaning set forth in Section 7.2.

  • Loan Termination Date means the earliest to occur of the following: (i) as to TERM NOTE 2 and TERM NOTE 5, September 1, 2011; as to the REVOLVING NOTE, May 18, 2009 (ii) the date the OBLIGATIONS are accelerated pursuant to this AGREEMENT, and (iii) the date BANK receives (a) notice in writing from BORROWER of BORROWER’s election to terminate this AGREEMENT and (b) indefeasible payment in full of the OBLIGATIONS.

  • Reverse Termination Fee has the meaning set forth in Section 7.02(b).

  • Availability Termination Date means, as to any Borrower, the earlier of (a) the Maturity Date for such Borrower, (b) the reduction of the Borrower Sublimit of such Borrower to zero pursuant to Section 2.8.3 or termination of the obligation to make Loans to, or issue Letters of Credit for the account of, such Borrower pursuant to Section 8.1 and (c) the date of termination in whole of the Aggregate Commitment and the Commitments pursuant to Section 2.8.3 or Section 8.1.

  • Liquidity Termination Date means the earlier to occur of (a) July 13, 2009, as such date may be extended from time to time by the Lender’s Liquidity Banks in accordance with the Liquidity Agreement, and (b) the occurrence of an Event of Bankruptcy with respect to the Lender.

  • Commitment Termination Date means the earlier of (a) the Maturity Date and (b) the earlier termination in whole of the Commitments pursuant to Section 2.04 or Article VII.

  • Revolving Loan Termination Date means the earlier of (a) the fifth anniversary of the Funding Date and (b) the date of termination in whole of the Aggregate Revolving Loan Commitment pursuant to Section 2.05(a) or Section 9.01 hereof.

  • Scheduled Commitment Termination Date means May 24, 2016, as such date may be extended by mutual agreement of the parties hereto (each, in their sole and absolute discretion) pursuant to Sections 2.21 and 12.01(b).

  • Sponsor Termination Fees means the one-time payment under the Sponsor Management Agreement of a termination fee to one or more of the Sponsors and their Affiliates in the event of either a Change of Control or the completion of a Qualifying IPO.

  • Commitment Termination Event means the earlier of (a) automatically and without notice or further action, the occurrence of any Event of Default described in Section 7.01(i) (Bankruptcy, Insolvency, etc.) with respect to the Borrower and (b) the occurrence and continuation of any other Event of Default under this Agreement pursuant to which either a Commitment Termination Event has been expressly declared or a declaration of the Loan to be due and payable has been given, in each case pursuant to Section 7.03 (Action if other Event of Default).

  • Term Loan Commitment Termination Date means the earliest to occur of (a) the Amendment No. 9 Effective Date, (b) the date the Term Loan Commitments are permanently reduced to zero pursuant to 2.01(b) and (c) the date of the termination of the Term Loan Commitments pursuant to Section 9.01.

  • Extended Termination Date has the meaning specified in Section 2.16(c).

  • Special Termination Advance means an Advance made pursuant to Section 2.02(g).

  • Applied Special Termination Advance has the meaning assigned to such term in Section 2.05.

  • Revolver Termination Date means the date that is the four (4) year anniversary of the Restatement Effective Date, unless extended with the consent of each Lender in its sole and absolute discretion.

  • Swap Termination Payment Upon the designation of an “Early Termination Date” as defined in the Swap Agreement, the payment to be made by the Swap Administrator to the Swap Provider from payments from the Trust Fund, or by the Swap Provider to the Swap Administrator for payment to the Trust Fund, as applicable, pursuant to the terms of the Swap Agreement.

  • Revolving Credit Termination Date means the earlier to occur of (i) the Current Termination Date then in effect and (ii) the date of termination in whole of the Commitments pursuant to Section 2.05(a) or 6.01.

  • Swingline Termination Date means the date which is 7 Business Days prior to the Termination Date.

  • Premium Termination Date With respect to the Series A Certificates, the scheduled maturity date of the Series A Certificates, with respect to the Series B Certificates, the scheduled maturity date of the Series B Certificates and with respect to the Series C Certificates, the scheduled maturity date of the Series C Certificates.