Common use of End of Term Charge Clause in Contracts

End of Term Charge. On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays the outstanding Secured Obligations in full, or (iii) the date that the Secured Obligations are accelerated and become due and payable, Borrower shall pay Lender a charge of Three Hundred Ninety Seven Thousand Five Hundred Dollars ($397,500) (i.e. two and sixty-five hundredths percent (2.65%) of the Maximum Term Loan Amount). Notwithstanding the required payment date of such charge, it shall be deemed earned by Lender as of the Closing Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Coronado Biosciences Inc)

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End of Term Charge. On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays the outstanding Secured Obligations (other than 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 are accelerated and become due and payable, Borrower shall pay Lender a charge of Three Hundred Ninety Seven Thousand Five Hundred Dollars ($397,500) (i.e. two five and sixtyfifty-five hundredths of one percent (2.655.55%) of the Maximum Advances (the “End of Term Loan AmountCharge”). Notwithstanding the required payment date of such charge, it shall be deemed earned by Lender as of the Closing Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Merrimack Pharmaceuticals Inc)

End of Term Charge. On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays the outstanding Secured Obligations (other than 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 are accelerated and become due and payable, Borrower shall pay Lender a charge of Three Hundred Ninety Seven Thousand Five Hundred Dollars the greater of (a) $397,500750,000 and (b) (i.e. two and sixty-five hundredths percent (2.655%) of the Maximum Term Loan Amount)aggregate principal amount of all Advances. Notwithstanding the required payment date of such charge, it shall be deemed earned by Lender as of the Closing Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Stealth BioTherapeutics Corp)

End of Term Charge. On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays the outstanding Secured Obligations (other than 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 are accelerated and become due and payable, Borrower shall pay Lender the Lenders a charge of Three Hundred Ninety Seven Thousand Five Hundred Dollars ($397,500) (i.e. two and sixty-five hundredths percent (2.65%) equal to 5.50% of the Maximum aggregate original principal amount of all Advances (the “End of Term Loan AmountCharge”). Notwithstanding the required payment date of such chargeEnd of Term Charge, it the applicable pro rata portion of the End of Term Charge shall be deemed earned by Lender the Lenders as of the Closing Dateeach date a Term Loan Advance is made.

Appears in 1 contract

Samples: Loan and Security Agreement (Codiak BioSciences, Inc.)

End of Term Charge. On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays the outstanding Secured Obligations (other than 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 are accelerated and become due and payable, Borrower shall pay Lender the Lenders a charge of Three Hundred Ninety Seven Thousand Five Hundred Dollars ($397,500) (i.e. two and sixty-five hundredths percent (2.65%) 4.95% multiplied by the aggregate amount of the Maximum all Term Loan AmountAdvances (the “End of Term Charge”). Notwithstanding the required payment date of such chargeEnd of Term Charge, it the applicable pro rata portion of the End of Term Charge with respect to any Advance shall be deemed earned by Lender the Lenders as of the Closing applicable Advance Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Replimune Group, Inc.)

End of Term Charge. On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays the outstanding Secured Obligations (other than 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 are accelerated and become due and payable, Borrower shall pay Lender a charge of Three Hundred Ninety Seven Thousand Five Hundred Dollars ($397,500) (i.e. two and sixty-five hundredths percent (2.65%) 6.55% of the Maximum aggregate amount of Term Loan Amount)Loans funded. Notwithstanding the required payment date of such charge, it shall be deemed earned by Lender as of the Closing Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Myovant Sciences Ltd.)

End of Term Charge. On the earliest to occur of (ia) the Term Loan Maturity Date, (iib) the date that Borrower prepays the outstanding Secured Obligations in fullObligations, or (iiic) the Availability Termination Date if no Growth Loans are Advanced at such time and (d) the date that the Secured Obligations are accelerated and become due and payable, Borrower shall pay Lender a charge equal to the sum of Three Hundred Ninety Seven Thousand Five Hundred Dollars ($397,500i) (i.e. two and sixty-five hundredths percent (2.65%) 3.63% of the Maximum Growth Loan Amount and (ii) 6.5% of each Growth Loan Advance made hereunder, in the aggregate (the “End of Term Loan AmountCharge”). Notwithstanding the required payment date of such charge, it shall be deemed earned by Lender as of the Closing Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Enphase Energy, Inc.)

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End of Term Charge. On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays the outstanding Secured Obligations (other than 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 are accelerated and become due and payablepayable in accordance with this Agreement, Borrower shall pay Lender the Lenders a charge of One Million Three Hundred Ninety Seven Thousand Five Hundred Dollars ($397,500) (i.e. two and sixty-five hundredths percent (2.65%) of the Maximum Term Loan Amount1,390,000.00). Notwithstanding the required payment date of such charge, it shall be deemed earned by Lender the Lenders as of the Closing DateInitial Advance Date (subject to the occurrence thereof).

Appears in 1 contract

Samples: Loan and Security Agreement (Dermavant Sciences LTD)

End of Term Charge. On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays the outstanding Secured Obligations (other than 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 are accelerated and become due and payable, Borrower shall pay Lender a charge of Three Hundred Ninety Seven Thousand Five Hundred Dollars ($397,500) (i.e. two four and sixtyone-five hundredths quarter of one percent (2.654.25%) of the Maximum total original principal amount of all Term Loan Amount)Advances made hereunder. Notwithstanding the required payment date of such charge, it shall be deemed earned by Lender as of the Closing Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Antares Pharma, Inc.)

End of Term Charge. On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays the outstanding Secured Obligations (other than 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 are accelerated and become due and payable, Borrower shall pay Lender a charge of Three Hundred Ninety Seven Thousand Five Hundred Dollars ($397,500) (i.e. two and sixty-five hundredths percent (2.65%) equal to 3.25% of the Maximum aggregate principal amount of the Term Loan Amount)Advances. Notwithstanding the required payment date of such charge, it shall be deemed earned by Lender as of the Closing Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Tg Therapeutics, Inc.)

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