Additional Commitment Fee Clause Samples
The Additional Commitment Fee clause establishes an extra fee that a borrower must pay to the lender, typically in connection with unused portions of a loan commitment. This fee is often calculated as a percentage of the undrawn loan amount and is charged periodically, such as quarterly or annually, as long as the committed funds remain available but unused. Its core practical function is to compensate the lender for reserving funds that the borrower may or may not use, thereby incentivizing efficient use of the committed credit and offsetting the lender's opportunity cost.
Additional Commitment Fee. If, at any time after the Effective Date, the remaining maturity of the Revolving Credit shall be less than 366 days, the Company shall be obligated to pay the Agent, for distribution to the Banks in accordance with this clause (c), an Additional Commitment Fee, such Additional Commitment Fee to be calculated as follows: (i) in the case of a Bank which holds a Percentage of the Revolving Credit Maximum Amount which is less than $20,000,000, the Additional Commitment Fee shall be determined by multiplying 10 basis points times an amount equal to such Bank's Percentage of the Revolving Credit Maximum Amount, and (ii) in the case of a Bank which holds a Percentage of the Revolving Credit Maximum Amount which is greater than or equal to $20,000,000, the Additional Commitment Fee shall be determined by multiplying 20 basis points times an amount equal to such Bank's Percentage of the Revolving Credit Maximum Amount. The Additional Commitment Fee, if applicable, shall be due and payable 360 days prior to the Revolving Credit Maturity Date then in effect.
Additional Commitment Fee. The Company hereby agrees to pay an additional commitment fee equal to 0.25% of any new funds above the amount of the Maximum Commitment made available to the Company by the Bank in the future. Any such new funds shall be subject to the terms of this Agreement as amended from time to time.
Additional Commitment Fee. Not later than 4:00 p.m. (New York City time) on the trading day on which the Company shall have received from the Investor total aggregate cash proceeds equal to $25,000,000 as payment for all shares purchased by the Investor in all Regular Purchases, Accelerated Purchases and Additional Accelerated Purchases effected pursuant to this Agreement (the “Additional Commitment Fee Trigger Date”), the Company shall either (A) pay to the Investor, by wire transfer of immediately available funds to an account designated by the Investor, an amount in cash equal to $500,000, (B) cause to be issued to the Investor a number of shares of Common Stock that collectively have a total value equal to $500,000 (such number of shares calculated as set forth below), or (C) pay to the Investor (by wire transfer of immediately available funds to an account designated by the Investor) and cause to be issued to the Investor a combination of an amount in cash and a number of shares of Common Stock (such number of shares calculated as set forth below) that collectively have a combined total value equal to $500,000 (the “Additional Commitment Fee” and any cash amount that is paid by the Company to the Investor as part of the Additional Commitment Fee pursuant hereto, the “Additional Cash Commitment Fee” and any shares of Common Stock issued by the Company to the Investor as part of the Additional Commitment Fee pursuant hereto, the “Additional Commitment Shares”). If any Additional Commitment Shares are to be issued hereunder, such Additional Commitment Shares shall (I) have a per share value equal to ninety-seven percent (97%) of the lower of (a) the lowest Sale Price on the Additional Commitment Fee Trigger Date and (b) the arithmetic average of the three (3) lowest Closing Sale Prices for the Common Stock during the ten (10) consecutive Business Days ending on the Business Day immediately preceding Additional Commitment Fee Trigger Date (in each case, to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction that occurs on or after the date of this Agreement), (II) shall be included in a Registration Statement filed by the Company with the SEC pursuant to this Agreement and the Registration Rights Agreement and declared effective by the SEC on or prior to the Additional Commitment Fee Trigger Date, registering under the Securities Act the resale by the Investor of such Additional Commitment Shares that may b...
Additional Commitment Fee. The Company shall pay to the Investor an additional commitment fee (the “Additional Commitment Fee”) of Two Hundred Thousand United States Dollar (US$200,000) (assuming the Commitment Amount is increased by US$10,000,000 and proportionally if the Commitment Amount is increased by less than US$10,000,000) on the tenth (10th) Trading Day following the Commitment Increase Date, if any, provided, however, that if the Company delivers an Advance Notice to the Investor requesting an Advance of at least Two Hundred Thousand United States Dollars (US$200,000) prior to the due date of the Additional Commitment Fee, then the Additional Commitment Fee shall be due on the same day as the Closing of such Advance. The Additional Commitment Fee shall be paid in cash either directly by the Company or out of the net proceeds of an Advance made in accordance with the preceding sentence.
Additional Commitment Fee. Borrower agrees to pay to the Administrative Agent for the benefit of the Lenders on the Amendment Effective Date a commitment fee of thirty-five hundredths of one percent (0.35%) of the Aggregate Commitment.
Additional Commitment Fee. In the event the Maximum Revolver Amount is increased from $10,000,000 to $15,000,000, at the time of such increase, Borrower shall pay to Bank an additional fully earned, non-refundable commitment fee of $25,000.
Additional Commitment Fee. In the event a plan of reorganization acceptable to the Lenders, the Bond Support Lenders and the Bank Lenders has not been (i) confirmed within five months after the Filing Date and/or (ii) consummated within six months after the Filing Date, the Borrower shall pay to the Administrative Agent, for the ratable account of each Lender, on the first Business Day after such date, in immediately available funds, a one-time fee equal to $900,000.
Additional Commitment Fee. At March 17, 1996, and at each anniversary of such date, or upon the earlier termination or expiration of this Agreement, as the case may be, Borrower shall pay to Bank the excess, if any, of the Minimum Commitment Fee over the sum of all other fees paid under Sections 2.6.1, 2.6.2 and 2.6.3 and attributable to the preceding 12-month period (or such part thereof as this Agreement has been in effect). However, Borrower shall receive as a credit against any excess amount to be paid to Bank pursuant to this Section 2.6.4 such portion (if any) as may be designated in writing by Borrower to Bank of the excess (if any) of (i) the sum of (A) the aggregate amount paid by the borrower to Bank pursuant to Sections 2.6.3 and 2.6.4 of the TPC Credit Agreement and attributable to such period and (B) the aggregate amount paid by the borrower to Bank pursuant to Sections 2.6.2 and 2.6.3 of the HCP Credit Agreement and attributable to such period over (ii) the excess (if any) of the sum of (y) the Minimum Commitment Fee (as such term is defined in the TPC Credit Agreement) and (z) the Minimum Commitment Fee (as such term is defined in the HCP Credit Agreement).
Additional Commitment Fee. The Company agrees that on March 1, 1999, if the Commitments have not been terminated by the Company pursuant to Section 2.05 of the Credit Agreement by such date (and all Obligations repaid at the time of such termination), then on March 1, 1999 the Company shall pay to each Bank a commitment fee equal to 5 basis points based on such Bank's Commitment in effect at such time.
Additional Commitment Fee. In addition to any amount already paid pursuant to Section 4(a) of the Securities Purchase Agreement, the Company shall pay VCP, for the benefit of the Purchasing Funds, an additional commitment fee in an amount equal to Seven Million Seven Hundred And Fifty Thousand South African Rand (ZAR 7,750,000), excluding VAT, in aggregate, free of exchange and bank charges and without deduction or set-off of any nature, which fee shall become due and payable in accordance with the following schedule: 40% no later than five Business Days from the date of execution of this Amendment 30% on March 31, 2024; and 30% on March 31, 2025.