Standby Commitment Fee. In consideration for providing the Standby Commitment, the Company shall pay to DCG in cash on the Funding Date an amount equal to the product of (x) $547.95 multiplied by (y) the number of days elapsed from and including December 31, 1996 to and including the Funding Date.
Standby Commitment Fee. Commencing October 15, 2015, at the end of each three months of the loan term, Borrower shall pay to Lender a standby commitment fee equal to one quarter of one percent (0.25%) per annum of the difference between (i) the total amount for which Lender was committed to advance on the line of credit hereunder during the preceding three months and (ii) the average daily principal amount outstanding and owing by Borrower on the line of credit during such period.
Standby Commitment Fee. Borrower agrees to pay to the Lender a standby commitment fee on the daily average unused amount of the Commitment, for the period from the date of this Agreement to but excluding the Termination Date, at a rate equal to the A1/P1 commercial paper rate as of the last Business Day of the immediately preceding month plus five (5) basis points per annum. Accrued standby commitment fees shall be payable monthly in arrears on the last Business Day of each month, commencing on the first such Business Day occurring after the date of this Agreement.
Standby Commitment Fee. As consideration for its obligations hereunder, the Standby Purchaser shall receive a fee of $600,000 (the “Standby Commitment Fee”). The Standby Commitment Fee shall be payable on the Standby Closing Date by the issuance to the Standby Purchaser of additional shares of Common Stock at $0.01 per share, for a total Standby Commitment Fee of 60,000,000 shares of Common Stock (the “Fee Shares”). The Fee Shares will be validly issued, fully paid and non-assessable. The Company shall pay any documentary, stamp or similar issue or transfer taxes due upon the issuance and delivery of the Fee Shares to the Standby Purchaser.
Standby Commitment Fee. Commencing August 15, 2015, at the end of each three months of the loan term and at maturity, Borrower shall pay to Lender a standby commitment fee equal to one quarter of one percent (0.25%) per annum of the difference between (i) the total amount for which Lender was committed to advance on the line of credit hereunder during the preceding three months and (ii) the average daily principal amount outstanding and owing by Borrower on the line of credit during such period. Except as amended hereby, all other provisions of the Loan Agreement, as previously amended, shall remain in full force and effect and are hereby ratified and confirmed. EXECUTED in multiple originals the date first set forth above. THIS WRITTEN LOAN AGREEMENT AND THE PROMISSORY NOTES, SECURITY AGREEMENTS, GUARANTY AGREEMENTS AND OTHER LOAN DOCUMENTS EXECUTED BY THE PARTIES REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. BORROWER: LENDER: TOR MINERALS INTERNATIONAL, INC. AMERICAN BANK, N.A. By: BXXXXXX XXXXXXX By: PXXXXXX X. XXXXXX Bxxxxxx Xxxxxxx Chief Financial Officer Pxxxxxx X. Xxxxxx Senior Lending Officer May 26, 2015 May 26, 2015 Date Date
Standby Commitment Fee. As compensation to Fairholme for agreeing and satisfying its commitment to purchase the Standby Shares, the Company agrees to pay FCM a cash fee of $_______, payable at Closing (the “Standby Commitment Fee”).
Standby Commitment Fee. As compensation to the Purchasers for satisfying their commitments, the Company agrees to issue to each of the Purchasers that has fulfilled its obligation to purchase Unsubscribed Shares pursuant to this Agreement warrants to purchase shares of the Company's Common Stock (the "STANDBY COMMITMENT FEE WARRANTS"). The number of Standby Commitment Fee Warrants issuable to each Purchaser shall be determined in accordance with the following formula: N = P x 10.7% x O where N = the number of Standby Commitment Fee Warrants issuable to a Purchaser; P = the Proportionate Share of such Purchaser; and O = the total number of shares of Common Stock outstanding on a fully diluted basis (without giving effect to issuances of Common Stock and securities exercisable for Common Stock to the Company's management under the proposed 2005 Incentive Plan and assuming that two-thirds of the Company's Series B Preferred Stock outstanding on the date of this Agreement has been repurchased or redeemed) following consummation of the Rights Offering and the purchase of the Unsubscribed Shares pursuant to this Agreement. The Standby Commitment Fee Warrants shall be in the form attached hereto as Exhibit B, with each such warrant having an initial exercise price equal to the Per Share Subscription Price and an expiration date of July 31, 2006. Such Standby Commitment Fee Warrants shall be delivered to the Purchasers on the Closing Date, but each Purchaser shall be deemed to have earned its Standby Commitment Fee Warrants effective as of the time its right and obligation to purchase its Proportionate Share of the Unsubscribed Shares shall become fixed, as provided in Section 1.2.
Standby Commitment Fee. Commencing on the Closing Date, the Borrowers shall pay to the Lender a standby commitment fee in Canadian Dollars at an annual rate (based on a 365 day year, or 366 days in the case of a leap year) of 0.375% on the undrawn portion of the amount of the Revolving Commitment, such fee to be calculated and payable monthly, in arrears, on the first Business Day following the end of each calendar month, on the outstanding daily undrawn portion of the Revolving Credit, for the period from the Closing Date to and including the last day of the first calendar month ending after the Closing Date and thereafter from the first day of each calendar month to and including the last day of such calendar month. The Lender will debit the Borrower’s Account for the amount of each standby commitment fee payable hereunder. For purposes of determining the undrawn portion of the Revolving Credit in respect of any Advance in US Dollars, the Lender shall determine the Exchange Equivalent of such Advance in Canadian Dollars on the first Business Day of the month in which such commitment fee is payable.
Standby Commitment Fee. As compensation to FRP for its Standby Commitment and its obligations under the Master Agreement (including but not limited to its purchase of the MCN Properties as described therein), XXXX agrees to pay to FRP on the Closing Date a standby commitment fee of $6,000,000 (the "STANDBY COMMITMENT FEE"), irrespective of the number of shares of Common Stock purchased by FRP hereunder. The Standby Commitment Fee will at FRP's option (designated no more than one business day prior to the Closing Date) be (a) credited in whole or in part against the purchase price to be paid by FRP in connection with its purchase of the Excess Shares or the Additional Shares, if any, or both hereunder or (b) payable in immediately available funds by wire transfer to an account of FRP designated by FRP.
