Examples of MOIC in a sentence
To the extent any MOIC Trigger Event occurs on or after the eighteen (18) month anniversary of the Closing Date, the Borrower Representative shall pay to the Term Agent for the account of the Term Lenders a fee in an amount equal to $1,200,000 (the “MOIC Fee”, together with the Minimum MOIC Amount, the “Exit Fee”); provided that the MOIC Fee shall not be payable with respect to any MOIC Trigger Event that does not relate to the Initial Term Loans.
Together with each prepayment under this Section 1.6, if such prepayment results in a MOIC Trigger Event, the Borrowers shall pay any related Exit Fee.
For the avoidance of doubt, any prepayments of the principal amount of the Term Loan pursuant to this Section 1.7(d) shall be subject to the Exit Fee (to the extent such principal payment results in a MOIC Trigger Event) and shall be accompanied by interest on the amount so repaid.
The Exit Fee shall be fully earned on the Closing Date and due and payable immediately upon the occurrence of any MOIC Trigger Event.