MOIC Amount means (a) if no Event of Default shall have occurred and be continuing, at any time prior to December 22, 2022, the amount equal to (1) the product of (x) the Combined DK/Trinity Loan Amount, multiplied by (y) thirty percent (30%), less (2) the amount equal to the sum of (i) all Capitalized PIK previously paid in cash or paid concurrently with such repayment (whether as interest or principal), (ii) the Commitment Fee (as defined in the Fee Letter), (iii) all interest payments at the Cash Pay Interest Rate (as defined in the Corporate Credit Agreement) or the PIK Interest Rate (as defined in the Corporate Credit Agreement) previously paid in cash, paid currently with such repayment (whether as interest or principal) by Corporate Facility Borrower to Corporate Facility Administrative Agent or Corporate Facility Lenders pursuant to the Corporate Credit Agreement or reasonably expected to be paid, (iv) the Commitment Fee (as defined in the Corporate Credit Agreement), (v) the Exit Fee (as defined in the Corporate Credit Agreement) previously paid, paid concurrently with such repayment by Corporate Facility Borrower to Corporate Facility Administrative Agent or Corporate Facility Lenders pursuant to the Corporate Credit Agreement or reasonably expected to be paid, and (vi) any Prepayment Premium previously paid or concurrently paid with such repayment by Corporate Facility Borrower to Corporate Facility Administrative Agent or Corporate Facility Lenders or reasonably expected to be paid, multipled by (3) a fraction, (x) the numerator of which is the Loan Amount, and the denominator of which is the Combined DK/Trinity Loan Amount; provided, that notwithstanding anything to the contrary, in connection with payment of the payment of the MOIC Amount (as defined herein) or the MOIC Amount (as defined in the Corporate Credit Agreement), whichever occurs later, the parties to this Agreement and the to the Corporate Credit Agreement shall adjust such MOIC Amount (or if none is payable, the applicable party shall make a payment to the applicable payee) so that the MOIC Amount (as defined herein) and the MOIC Amount (as defined in the Corporate Credit Agreement) actually paid reflects all of the interest and fees actually paid pursuant hereto and pursuant to the Corporate Credit Agreement; or (b) if an Event of Default shall have occurred and be continuing, or from and after December 22, 2022, the Loan Amount multiplied by 30%, less (i) all Capitalized PIK previously pai...
MOIC Amount has the meaning assigned to such term in the definition of “Repayment Premium.” For the avoidance of doubt, the MOIC Amount constitutes part of the Secured Obligations under this Agreement and until the MOIC Amount is paid in full, this Agreement shall remain in full force and effect.
MOIC Amount means, with respect to any prepayment of outstanding principal of any Loans, in whole or in part, whether voluntarily, involuntarily (including as a result of acceleration as a result of an Insolvency Proceeding or other Event of Default), the positive difference (if any) of (i) the product of (A) the principal amount being prepaid pursuant to such prepayment multiplied by (B) 1.50, less (ii) (A) the principal amount of such prepayment plus (B) the aggregate amount of interest on such prepaid principal amount paid to the Lenders prior to the date of such prepayment (exclusive of any portion of such interest that accrued at the Default Rate), plus (C) the amount of interest on such prepaid principal amount to be paid to the Lenders on the date of such prepayment (exclusive of any portion of such interest that accrued at the Default Rate) plus (D) an amount equal to the product of (x) the total amount of the Closing Fee multiplied by (y) a fraction (expressed as a percentage) having a numerator equal to such prepaid principal amount and a denominator equal to the sum of the principal amount of all Loans made on or prior to the date of such prepayment.
Examples of MOIC Amount in a sentence
In connection with prepayment or repayment of the entire Outstanding Principal Balance, the Borrower shall pay to the Administrative Agent, for the benefit of all Lenders, the MOIC Amount.
The Prepayment Premium, MOIC Amount and Exit Fee shall be payable upon an acceleration of any Obligations, whether before, during or after the commencement of any proceeding under the Bankruptcy Code involving the Borrower or any other Loan Party.
It is expressly agreed and understood that payment of the MOIC Amount shall be due under any and all circumstances where the entire outstanding principal balance of the Loan is paid prior to the Maturity Date, whether such payment is voluntary or involuntary, even if such payment results from an Acceleration Event (and irrespective of whether foreclosure proceedings have been commenced), and shall be in addition to any other sums due hereunder or under any of the other Loan Documents.
Borrower acknowledges and agrees that, even if Lender is able to loan the amount prepaid by Borrower to another Person on the same terms and conditions as herein provided, Lender shall not have fully recovered Lender’s lost profits, costs, expenses and damages suffered as a result of such early prepayment; therefore, Borrower and Administrative Agent have agreed on the MOIC Amount as compensation for Lender’s estimated lost profits, costs, expenses and damages resulting from such prepayment.
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.
More Definitions of MOIC Amount
MOIC Amount means (x) thea) if no Event of Default shall have occurred and be continuing, at any time prior to December 22, 2022, the amount equal to (1) the product of (x) the Combined DK/Trinity Loan Amount, multiplied by (y) thirty percent (30%), less (2) the amount equal to the sum of (i) all Capitalized PIK (as defined in the 77 Greenwich Mezzanine Loan Agreement) previously paid in cash, paid concurrently with such repayment (whether as interest or principal) or reasonably expected to be paid, (ii) the Commitment Fee (as defined in the Fee Letter (as defined in the 77 Greenwich Mezzanine Loan Agreement)), (iii) all interest payments at the Cash Pay Interest Rate or the PIK Interest Rate previously paid in cash or paid currently with such repayment (whether as interest or principal) by Borrower to the Administrative Agent or the Lenders pursuant to this Agreement, (iv) the Commitment Fee (as defined in the Fee Letter), (v) the amount of the Exit Fee previously paid or paid concurrently with such repayment by Borrower to the Administrative Agent or the Lenders pursuant to this Agreement, and (vi) any Prepayment Premium previously paid or concurrently paid with such repayment by Borrower to the Administrative Agent or the Lenders, multiplied by (3) a fraction, (x) the numerator of which is the Term Loan Commitment (plus the amount of any drawn Incremental Term Advances), and the denominator of which is the Combined DK/Trinity Loan Amount; provided, that notwithstanding anything to the contrary, in connection with payment of the MOIC Amount (as defined herein) or the MOIC Amount (as defined in the 77 Greenwich Mezzanine Loan Agreement), whichever occurs later, the parties to this Agreement and the 77 Greenwich Mezzanine Loan Agreement shall adjust such MOIC Amount (or if none is payable, the applicable party shall make a payment to the applicable payee) so that the MOIC Amount (as defined herein) and the MOIC Amount (as defined in the 77 Greenwich Mezzanine Loan Agreement) actually paid reflects all of the interest and fees actually paid pursuant hereto and pursuant to the 77 Greenwich Mezzanine Loan Agreement or (b) if an Event of Default shall have occurred and be continuing, or from and after December 22, 2022, the Term Loan 19 26203076.0000000000.8
MOIC Amount has the meaning specified in Section 2.09(a).
MOIC Amount have the meanings given to such terms in Section 3.04(d).
MOIC Amount means (x) the Term Loan Commitment (plus the amount of any drawn Incremental Term Advances) multiplied by 130% less (i) all interest payments at the Cash Pay Interest Rate or the PIK Interest Rate previously paid in cash or paid concurrently with such repayment (whether as interest or principal), (ii) the Commitment Fee (as defined in the Fee Letter), (iii) the amount of the Exit Fee previously paid or paid concurrently with such repayment and (iv) any Prepayment Premium previously paid or concurrently paid with such repayment.
MOIC Amount means, as of any date of determination and with respect to any repayment, prepayment or acceleration of any Delayed Draw Term Loan, an amount equal to the positive difference of (a) the product of (i) the MOIC Applicable Margin multiplied by (ii) the principal amount of the Delayed Draw Term Loan (other than (x) any original issue discount charged in connection therewith and (y) PIK Interest that has accrued as of such date of determination) subject to the applicable repayment, prepayment or acceleration and (b) the cumulative amount of all payments (including interest (whether in cash or PIK Interest), any original issue discount and the Exit Fee but excluding principal payments) the Lenders have received with respect to such principal amount of the Delayed Draw Term Loan subject to the applicable repayment, prepayment or acceleration on or prior to such date of determination.
MOIC Amount means, as of any date of determination, (a) with respect to the Bridge Loans, the product of (i) 0.95 multiplied by (ii) the sum of (A) the aggregate initial amount of the Bridge Loan Commitments as of the Third Amendment Effective Date plus (B) the amount of Bridge Loan PIK Interest capitalized and added to the principal amount of the Bridge Loans on or prior to such date plus (C) the accrued and unpaid interest on the Bridge Loans as of such date that has not been capitalized and added to the principal amount of the Bridge Loans on or prior to such date; provided that if any MOIC Amount with respect to the Bridge Loans becomes a MOIC Liquidation Amount, such MOIC Amount shall be recalculated with the amount under clause (ii)(A) above being based on the then outstanding aggregate principal amount of Bridge Loans as of the date that such Event of Default pursuant to Section 8.01(f) occurs; and (b) with respect to the Dollar Term Loans, the product of (i) 0.95 multiplied by (ii) the sum of (A) the aggregate principal amount of the Dollar Term Loans as of such date, plus (B) the accrued and unpaid interest on the Dollar Term Loans as of such date.
MOIC Amount means, as of any date of determination, a fee which equates to an annualized rate of return on the Term Loans made by the Lenders (which return shall include any Prepayment Premium (and shall, for the avoidance of doubt, be calculated after giving effect to the calculation and payment of any Prepayment Premium), interest or fees paid in cash in connection with the Term Loans, but shall exclude any return on the Warrants) of 17.0% of the initial principal amount of the Term Loans.