Reduction Fee definition

Reduction Fee is defined in Section 2.3(a).

Reduction Fee has the meaning set forth in the Fee Letter.

Reduction Fee means an amount equal to the product of (A) the Applicable Spread in effect on the date of the permanent reduction of the Commitment pursuant to Section 2.01(h)(i) of the Agreement, (B) the difference between (x) the Available Commitment (without regard to any reductions thereto that may become subject to reinstatement) prior to such permanent reduction and (y) Available Commitment (without regard to any reductions thereto that may become subject to reinstatement) after such permanent reduction and (C) a fraction, the numerator of which is equal to the number of days from and including the date of such permanent reduction to and including the one year anniversary of the Extension Date, and the denominator of which is 360.

Examples of Reduction Fee in a sentence

The Borrower agrees to pay to the Lender the fees and other amounts set forth in the Fee Agreement at the time and in the manner set forth in the Fee Agreement, including, but not limited to, the Undrawn Fee, the LC Facility Fee, the Termination Fee and the Reduction Fee.

Reduction Fee has the meaning set forth in the Fee Agreement.

Reduction Fee has the meaning set forth in the Fee and Interest Rate Agreement.

Reduction Fee means an amount equal to the product of (A) the Commitment Fee Rate in effect on the date of the permanent reduction of the Commitment pursuant to Section 2.7(a) hereof, (B) the difference between (x) the Available Commitment (without regard to any Revolving Loans outstanding) on the date of such reduction and (y) the Available Commitment (without regard to any Revolving Loans outstanding) after the reduction and (C) a fraction, the numerator of which is equal to the number of days from and including the date of such reduction to and including the date which is twelve (12) months following the Effective Date, and the denominator of which is 360.

Reduction Fee means a payment to the Bank of 3 percent (3%) of the principal amount of any reduction of the Commitment by the Borrower during the period ending at the close of business of the day immediately prior to the Termination Date, other than by reason of a Non-Premium Event or the occurrence of the Termination Date.

Reduction Fee means a payment to the Lenders with respect to any reduction of the Revolving Credit Commitments by the Borrower, with respect to which a Reduction Fee is due pursuant to Section 1.5, of three percent (3%) of the amount of the reduction if it occurs in the first year, two percent (2%) of the amount of the reduction if it occurs in the second year, and one percent (1%) of the amount of the reduction if it occurs in the third year.

Reduction Fee means a nonrefundable fee with respect to any permanent reduction of the Facility Amount pursuant to Section 2.5(a) equal to, if such reduction occurs:

Reduction Fee means an amount calculated using the following formula: two-fifths of (.50% x A x B) divided by 365, where A is the amount by which the Aggregate Commitments are reduced pursuant to Section 2.01(c) and B is the number of days remaining in the term of the Loan as of the date of the reduction.