Loan Premium definition

Loan Premium means an amount equal to six million nine hundred thousand dollars ($6,900,000).

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Loan Premium means an amount equal to $100,000 minus the total amount of interest on this Note paid by Lender at or prior to the time such Loan Premium is paid (but in no event shall the Loan Premium be less than zero).

Loan Premium has its meaning as set forth in Section 3 of the Schedule.

Examples of Loan Premium in a sentence

• If, subsequent to any Closing Date, the amount on any Funding Statement on which the Purchase Price with respect to a Purchaser Loan was based is found to be in error, within ten (10) Business days of receipt of information from the discovering party sufficient to establish the error, the party benefiting from the error shall pay the other party an amount sufficient to correct and reconcile the Purchase Price and related Loan Premium Fees and Trailing Fees.

• The provisions of this Section do not constitute a consent to the incurrence of any Indebtedness by the Borrower or any of its Subsidiaries not permitted under Section 7.2. For the avoidance of doubt, the Applicable New Incremental Loan Premium and/or Applicable Premium shall apply (to the extent otherwise then-applicable) with respect to any prepayment pursuant to this clause (a).

• The provisions of this Section do not constitute a consent to the consummation of any Disposition not permitted by Section 7.5. For the avoidance of doubt, the Applicable New Incremental Loan Premium and/or Applicable Premium shall apply (to the extent otherwise then-applicable) with respect to any prepayment pursuant to this clause (b).

• The Note shall bear an Initial Loan Premium and Additional Loan Fee (if applicable) (collectively, the “Total Loan Fees”).

• For the avoidance of doubt, no Applicable New Incremental Loan Premium and/or Applicable Premium shall apply with respect to any prepayment pursuant to this clause (c).

• The Loan Parties expressly acknowledge that their agreement to pay the Applicable Premium and/or the Applicable New Incremental Loan Premium as herein described is a material inducement to the Lenders to fund or continue, as applicable, the New Incremental Loans or the Initial Term Loans.

• In the event of a Note Payment Declaration, in addition to the entire unpaid Loan Principal and the unpaid applicable outstanding Initial Loan Premium, the total amount due and payable to Borrower shall also include the Additional Loan Fee (if applicable), which fee shall continue to accrue after the Note Payment Declaration and until Full Repayment is received by Borrower pursuant to Section 2(c) of the Loan Agreement.

• For example, if the Loan were repaid in full twelve (12) months from the Effective Date, a Loan Premium of $200,000 would be due ($3.0MM*.20x)/36*12=$200,000).

• For example, if the Loan Principal were $200,000, then the Loan Principal and Initial Loan Premium would be a total of $260,000.

• Any prepayment of the Term Facility made on or prior to the first anniversary of the Term Loan Closing Date shall also be accompanied by the Term Loan Premium.

More Definitions of Loan Premium

Loan Premium shall have the meaning specified in Section 3.1(a).

Loan Premium. A premium on the Loan shall be payable by Borrower as part of the Obligations equal to a maximum of twenty percent (20%) the Loan amount specified in Section 1 of this Schedule (the “Loan Premium”), such Loan Premium to be earned monthly based on the number of months the Loan remains outstanding. The Loan Premium shall be prorated for any outstanding period that is less than a full month. The Loan Premium shall be due at Maturity (or if the Loan is repaid in full prior to the stated Maturity Date, on the date of such repayment). For example, if the Loan were repaid, in full, twelve (12) months from the Effective Date, a Loan Premium of $333,667 would be due ((($5.5MM * 0.20) / 36) * 12 = $333,667).