Additional Extension Fee Clause Samples
Additional Extension Fee. In consideration of Seller extending the Closing Date as provided in Paragraph 2 above, Buyer shall pay to Seller an extension fee by depositing in escrow with Escrow Holder, in cash or current funds, a sum of Two Hundred Fifty Thousand Dollars ($250,000.00) (the “Additional Extension Fee”) by no later than March 16, 2023. Buyer hereby irrevocably authorizes and directs Escrow Holder to remit the Additional Extension Fee directly to Seller upon Escrow Holder’s receipt of such Additional Extension Fee. The Additional Extension Fee shall be deemed earned in full upon execution and delivery of this Eleventh Amendment, and concurrently with the Closing, Buyer shall receive a credit against the Purchase Price in the amount of the Additional Extension Fee to the extent received by Seller under this Paragraph 3. Notwithstanding anything stated to the contrary herein or in the Purchase Agreement, the Additional Extension Fee, once made, shall not be refundable to Buyer under any circumstances unless Seller fails to sell and convey the Property to Buyer when Seller is obligated to do so under the terms and provisions of the Purchase Agreement. If Buyer fails to timely deposit the Additional Extension Fee as provided in this Paragraph 3, then Buyer shall be in default under the Purchase Agreement and Seller shall have the right to terminate the Purchase Agreement and exercise all other rights and remedies under the Purchase Agreement.
Additional Extension Fee. The Borrower shall have paid to the Bank an additional extension fee in the amount of $32,500.00.
Additional Extension Fee. An additional extension fee owed to Bank in the amount of Thirty Thousand Dollars ($30,000) shall be fully earned and due upon execution of this Fifth Amendment; provided, however, in the event all of the Obligations under the Agreement have been paid in full and all remaining commitments of Bank under the Agreement have been terminated on or before January 15, 2010, Bank agrees to waive the payment of such additional extension fee. Otherwise, such additional extension fee shall be payable on January 15, 2010.
Additional Extension Fee. If the Maturity Date (as defined in the Credit Agreement) is extended to July 31, 2019, the Company shall cause to be paid to the Guarantors (i) a commitment fee equal to $168,750 in the aggregate (the “Additional Guaranty Amount”) and (ii) a monthly fee that shall accrue each calendar month during the term of the Guaranty equal to ten percent (10%) of the Additional Guaranty Amount divided by twelve (12) (the “Additional Monthly Fee”). The Guarantors shall be paid the percentage of the Additional Guaranty Amount and the Additional Monthly Fees as set forth on Exhibit A hereto. If payable, the Additional Guaranty Amount and the then accrued Additional Monthly Fee shall be payable in cash by the Company to the Guarantors in accordance herewith upon the termination or expiration of the Guaranties.”
Additional Extension Fee. If the Additional Maturity Extension (as defined in each Guaranty) occurs, the Company shall cause to be issued to the Guarantors an additional aggregate of 62,500 fully paid and nonassessable shares of Company common stock, $0.0001 par value per share (the “Additional Extension Payment Shares”), subject to adjustments pursuant to Section 1(c) hereto. The Additional Extension Payment Shares shall be issued to the Guarantors in such amounts as set forth on Exhibit A hereto. As soon as reasonably practicable following the date of the Additional Maturity Extension, the Company shall cause its transfer agent to deliver certificates to the Guarantors, registered in such name or names as the Guarantors may designate, representing the Additional Extension Payment Shares.
Additional Extension Fee. If:
21.26.1 the Facilities have not been repaid during the period starting on (and including) the Second Extension Effective Date and ending on (and including) 31 December 2011 in an aggregate amount at least equal to the aggregate amount applied in repayment or prepayment of the Senior Facilities during such period multiplied by “A”, where “A” is the ratio of (a) the total outstanding amount remaining due under the Facilities to (b) the total outstanding amount remaining due under the Senior Facilities, calculated as of the Second Extension Effective Date, and
21.26.2 the Total Leverage (as defined in Clause 20.1 (Financial definitions)) as of 31 December 2011 (based on a the information contained in the Compliance Table of Contents Certificate to be supplied to the Agent in respect of the Financial Year ending on 31 December 2011) exceeds 3.75x, the Borrower shall, as soon as possible but in any event not later than 5 Business Days after the date on which the relevant Compliance Certificate is delivered to the Agent, pay to the Agent (for the account of the Lenders in proportion to each Lender’s Commitment as of 31 December 2011) an additional extension fee computed at the rate of 0.50 per cent. of the total principal amount outstanding under the Facilities as of 31 December 2011.