Utilization Fee Shares definition

Utilization Fee Shares means up to 391,892 shares of newly issued shares of Hennessy Capital common stock in the aggregate issuable to the investors in consideration for the Backstop Commitment.
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Utilization Fee Shares shall have the meaning set forth in the Recitals.
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Examples of Utilization Fee Shares in a sentence

  • However, our Sponsor, has agreed to the Sponsor Share Forfeiture, pursuant to which it will forfeit to the Company such number of founder shares equal to (a) approximately 2.3 million less (b) 50% of the Utilization Fee Shares to the Company for cancellation, and the Company will issue an equivalent number of newly issued shares of Hennessy Capital common stock to Daseke stockholders upon closing of the Business Combination as part of the Closing Merger Consideration.

  • As described above, the total number of shares issued to Daseke stockholders as part of the Closing Merger Consideration will be reduced by 50% of the total amount of Utilization Fee Shares issued to the Backstop Commitment investors at closing.

  • Where you discuss the Sponsor Share Transfer, please explain why the amount of the shares subject to the transfer is calculated with reference to the number of shares issuable by the company as Utilization Fee Shares, which we understand will be issued by the company to the investors in the Backstop Commitment, and what impact this is intended to have on any party, including on the relative share ownership of the Sponsor, the Daseke stockholders and the investors in the Backstop Commitment.

  • If approximately 67% of outstanding public shares are redeemed, assumes$35.0 million of the Backstop Commitment will be fully utilized and Hennessy Capital will issue 391,892 of Utilization Fee Shares in the aggregate to investors in consideration for the Backstop Commitment upon closing of the Business Combination.***** If approximately 33% of outstanding public shares are redeemed, the Investment Banks will be paid the deferred IPO underwriting discounts and fees entirely in cash.

  • Also, while disclosure here says that the Sponsor will reduce the amount forfeited by 50% of the amount of the Utilization Fee shares, disclosure on page 135 describing the Common Stock Backstop and Subscription Agreement states that the Sponsor will forfeit a number of founder shares identical to the Utilization Fee Shares.

Related to Utilization Fee Shares

  • Utilization Fee shall have the meaning assigned to such term in Section 2.06(b).

  • Applicable Utilization Fee means, as of any date that the aggregate Advances exceed 33% of the aggregate Commitments, a percentage per annum determined by reference to the Public Debt Rating in effect on such date as set forth below: -------------------------------- ----------------------------- Public Debt Rating Applicable S&P/Moody's Utilization Fee -------------------------------- ----------------------------- Level 1 BBB+ or Baa1 or above 0.125% -------------------------------- ----------------------------- Level 2 BBB or Baa2 0.250% -------------------------------- ----------------------------- Level 3 BBB- and Baa3 0.000% -------------------------------- ----------------------------- Level 4 BBB- or Baa3 0.000% -------------------------------- ----------------------------- Level 5 BB+ and Ba1 0.000% -------------------------------- ----------------------------- Level 6 Lower than Level 5 0.000% -------------------------------- -----------------------------

  • Utilization Fee Rate means the percentage set forth in Schedule 1 hereto beside the then applicable Level.

  • Commitment Fee has the meaning specified in Section 2.09(a).

  • Non-Utilization Fee has the meaning assigned thereto in the Pricing Side Letter.

  • Applicable Commitment Fee Rate shall mean the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Commitment Fee.”

  • Applicable Utilization Fee Rate means, as of any date, the percentage rate per annum at which Utilization Fees accrue on all Revolving Credit Advances at such time as set forth in the Pricing Schedule.

  • Unused Commitment Fee has the meaning specified in Section 2.12(a) (Fees).

  • Applicable Commitment Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.14(C)(i) hereof determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • Commitment Amount means the aggregate amount of up to Ten Million Dollars ($10,000,000) which the Investor has agreed to provide to the Company in order to purchase the Company's Common Stock pursuant to the terms and conditions of this Agreement.

  • Maximum Term Loan Amount means Forty Million and No/100 Dollars ($40,000,000).

  • Commitment Fee Percentage means, with respect to the Revolving Loan Commitments at any time, the per annum percentage which is used to calculate Commitment Fees for such Revolving Loan Commitments determined pursuant to the Pricing Grid.

  • Facility Fee has the meaning specified in Section 2.09(a).

  • Reservation Fee means the fee set forth in the applicable Program Guide, relating to the aggregate principal amount of the particular Mortgage Loans which the Participant has committed to originate and sell to the Servicer (which is not applicable to MCC stand-alone product) pursuant to a Reservation Request, payable contemporaneously with the submission of the corresponding application package, all in accordance with the procedures set forth in the applicable Program Guide.

  • Monitoring Fee means the fees payable to the Lender pursuant to Section 2.03(b) below.

  • Advance Amount means with respect to Class A Advances, the Class A Advance Amount and, with respect to Class B Advances, the Class B Advance Amount.

  • Applicable Commitment Fee Margin means, for each Pricing Period, the margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: Applicable Pricing Level Margin II 10.0 V 17.5

  • Applicable Facility Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.14(C)(i) hereof determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • Applicable Unused Line Fee Percentage means, as of any date of determination, the applicable percentage set forth in the following table that corresponds to the Average Revolver Usage of Borrowers for the most recently completed month as determined by Agent in its Permitted Discretion; provided, that for the period from the Closing Date through and including February 28, 2015, the Applicable Unused Line Fee Percentage shall be set at the rate in the row styled "Level II"; provided further, that any time an Event of Default has occurred and is continuing, the Applicable Unused Line Fee Percentage shall be set at the margin in the row styled "Level II": Level Average Revolver Usage Applicable Unused Line Fee Percentage I > 50% of the Maximum Revolver Amount 0.25 percentage points II < 50% of the Maximum Revolver Amount 0.375 percentage points The Applicable Unused Line Fee Percentage shall be re-determined on the first date of each fiscal month of Borrowers by Agent.

  • Applicable L/C Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 3.08(a) hereof as set forth in the Pricing Schedule.

  • Applicable Facility Fee means the percentage set forth in the table below corresponding to the Level at which the “Applicable Margin” is determined in accordance with the definition thereof: Level Facility Fee 2 0.125% 3 0.150% 4 0.200% 5 0.250%

  • Commitment Utilization Percentage means on any day the percentage equivalent to a fraction (a) the numerator of which is the aggregate outstanding principal amount of Revolving Credit Loans, including the aggregate outstanding principal amount of Letters of Credit, Swingline Loans and Competitive Loans, and (b) the denominator of which is the Total Commitment (or, on any day after termination of the Commitments, the Total Commitment in effect immediately preceding such termination).

  • Maximum Advance Amount shall not exceed Five Hundred Thousand Dollars ($500,000) or two hundred (200%) percent of the average daily volume based on the trailing ten (10) days preceding the Drawdown Notice date whichever is of a larger value.

  • Applicable Unused Commitment Fee Rate means 0.50% per annum.

  • Processing Fee means in relation to a Transaction Summary delivered: