Early Bird Fee Sample Clauses
The Early Bird Fee clause establishes a discounted rate or special fee for parties who register, sign up, or commit to an agreement before a specified deadline. In practice, this clause incentivizes prompt action by offering a lower price or additional benefits to those who act early, often in contexts such as event registrations, service contracts, or product sales. Its core function is to encourage early commitment, helping organizers or providers forecast demand and manage resources more effectively.
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Early Bird Fee. As consideration for consenting to the Amendments, Waivers and Consent, each Lender that provides its consent on or before 16 November 2015 (being the date that is 15 Business Days after the date of this letter) to the Amendments, Waivers and Consent, shall be entitled to, unless otherwise agreed, an early bird fee (“Early Bird Fee”) of 10 bps of its Commitment under the Facilities as at the date of this letter. The Early Bird Fee shall be additional to, and separate from, the Consent Fee (as defined below) referred to below, and shall be paid on or before the earlier of (a) the date falling 20 Business Days after the Amendments, Waivers and Consent Countersignature Date and (b) the date of the receipt by the Borrower of the proceeds of the first Project Withdrawal (as defined in the Term Loan Facility Disbursement Agreement) made after the Amendments, Waivers and Consent Countersignature Date. No Early Bird Fee shall be payable if the Required Consent and Approvals are not obtained.