Common use of Additional Commitment Fee Clause in Contracts

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.

Appears in 1 contract

Sources: Debt Agreement (Railworks Corp)

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 on or prior to March 6, 2002 and/or (ii) consummated within six months after the Filing Dateon or prior to April 8, 2002, 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.

Appears in 1 contract

Sources: Debt Agreement (Railworks Corp)