Common use of End of Term Charge Clause in Contracts

End of Term Charge. (a) On the earliest to occur of (i) July 1, 2021 or (ii) the date that Borrower prepays the outstanding Secured Obligations (other than the Existing Term Loan Advances, any inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) in full, Borrower shall pay Lender a charge of Seven Hundred Ninety Thousand Dollars ($790,000.00) (the “Original End of Term Charge”). Notwithstanding the required payment date of such charge, the Original End of Term Charge shall be deemed fully earned by Lender as of the Closing Date.

End of Term Charge. (a) On the earliest to occur of (i) July 1the Term Loan Maturity Date, 2021 or (ii) the date that Borrower prepays the outstanding Secured Obligations (other than the Existing Term Loan Advances, any inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) in full, or (iii) the date that the Secured Obligations become due and payable, Borrower shall pay Lender a charge of Seven Hundred Ninety Thousand Dollars ($790,000.00) 1,068,750.00 (the “Original End of Term Charge”). Notwithstanding the required payment date of such charge, (i) $787,500.00 of the Original End of Term Charge shall be deemed fully earned by Lender as of the Closing Date and (ii) $281,250.00 of the End of Term Charge shall be deemed earned by Lender as of the First Amendment Date.”

End of Term Charge. (a) On the earliest to occur of (i) July 1, 2021 or 2022, (ii) the date that Borrower prepays the outstanding Secured Obligations (other than the Existing Term Loan Advances, any inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) in full, or (iii) the date that the Secured Obligations become due and payable, Borrower shall pay Lender a charge in the amount of Seven Hundred Ninety Thousand Dollars ($790,000.00) 1,062,500 (the “Original Term A End of Term Charge”). Notwithstanding the required payment date of such charge, the Original End of Term Charge it shall be deemed fully earned by Lender as of the Closing Date.