Exit Charge Sample Clauses
Exit Charge. Notwithstanding anything to the contrary in the Facility Documents, at the time any of the Loans are paid, repaid, redeemed, reduced or prepaid (whether before, at the time of or after the Maturity Date or any acceleration, bankruptcy or otherwise and whether in cash or in the form of Conversion Shares in connection with a Forced Conversion, Major Transaction Conversion or any other conversion under any of the Convertible Notes), the Borrower shall pay to each Lender its Pro Rata Share of a non-refundable exit fee (the “Exit Charge”) equal to 2.00% of the amount of Loans so paid, repaid, redeemed, reduced or prepaid. The Exit Charge is an Obligation, is fully earned on the Initial Convertible Loan Disbursement Date and shall be due and payable in cash upon each such payment, repayment, redemption or prepayment of the applicable Loans. The Parties acknowledge and agree that the Lenders have foregone receiving additional compensation, yield enhancement and pricing on the Initial Convertible Loan Disbursement Date in return for the Parties’ agreeing to the Exit Charge. The Parties further acknowledge and agree that the Agent and the Lenders would not have entered into this Agreement, and the Lenders would not have provided the Loans without the Loan Parties’ agreeing to pay the Exit Charge in the aforementioned instances. The Parties also acknowledge and agree that the Exit Charge set forth in this Section 2.8(b) is not intended to act as a penalty or to punish the Borrower or any other Loan Party for any such payment, repayment, redemption, prepayment or termination.
Exit Charge. If in accordance with clause 6.1 we arrange a smart meter upgrade for you after having agreed with you that we will waive the applicable smart meter upgrade charge, and then at any time before the end of the minimum term the agreement is terminated by you under clause 10.1 or 10.2, automatically under clause 10.3(b) or 10.3(d) or by us under clause 10.4, we may impose an exit charge the amount of which is to be determined as follows: X − Y * Z where: X is the number of days in the minimum term; Y is the number of days from and including the day on which the minimum term starts to and including the day on which the agreement is terminated; and Z is the amount of the waived smart meter upgrade charge.
Exit Charge. (a) The Exit Charge is equal to (i) the applicable Exit Charge Rate (as shown below) multiplied by (ii) the Initial Account Value as at the date the Units are cancelled.
(b) Please refer to the table below for the applicable rate by referring to the number of years from the date of Encashment or Termination until the end of your chosen Contribution Payment Term (“CPT”), each incomplete year will be rounded up to a complete year: 1 7% 11 47% 21 71% 2 12% 12 49% 22 73% 3 18% 13 51% 23 76% 4 24% 14 53% 24 79% 5 29% 15 55% 25 81% 6 32% 16 57% 26 83% 7 35% 17 60% 27 85% 8 38% 18 63% 28 87% 9 41% 19 65% 29 90% 10 44% 20 68% 30 93%
Exit Charge. (1) The Purchaser covenants to procure that the Company pays any liability of the Company under section 179 of the Taxation of Chargeable Gains ▇▇▇ ▇▇▇▇ which arises as a result of the Company ceasing to be a member of the same group of companies as the Seller (the "Exit Charge").
(2) If the Exit Charge is greater or less than(pound)3,000,000, the difference shall be dealt with in accordance with Schedule 5.
(3) The Seller will have no liability under Schedule 5 or any other provision of this agreement or the Tax Deed in respect of any interest or penalties which arise as a result of the Company failing to pay the Exit Charge, or any part of the Exit Charge on the last date on which such amount can be paid in order to avoid interest and penalties except to the extent such date fell prior to Completion or such interest and penalties relate solely to a failure to pay any amount of the Exit Charge in excess of (pound)3,000,000 and the Seller has not paid the excess to the Purchaser on the due date for payment under Schedule 5.
(4) Following Completion the Purchaser (or its advisers) will prepare a calculation of the Exit Charge for the purposes of agreeing the amount of the Exit Charge with the Inland Revenue. The Purchaser shall provide a copy of the calculation to the Seller. The Purchaser shall procure that the Company shall submit such calculation to the Inland Revenue without any amendments or with such amendments as the Seller shall reasonably request and the Purchaser shall agree, such agreement not to be unreasonably withheld or delayed.
(5) The Purchaser (or its advisers) shall have responsibility for agreeing the amount of the Exit Charge with the Inland Revenue and shall prepare all correspondence relating to such matter for submission by the Company. The Purchaser shall provide the Seller with copies of any correspondence prior to submission to the Inland Revenue. The Purchaser shall procure that the Company will send all such correspondence to the Inland Revenue without amendment or with such amendments as the Seller shall reasonably request and the Purchaser shall agree, such agreement not to be unreasonably withheld or delayed. If the Company receives any correspondence from the Inland Revenue relating to the Exit Charge, the Purchaser shall procure that the Company shall, as soon as reasonably practicable, send a copy of the relevant correspondence to the Seller.
(6) If the Exit Charge is not agreed with the Inland Revenue prior to the prepara...
Exit Charge. (a) The Exit Charge applies to Initial Contribution and Additional Contributions, and will be levied in respect of the first five years from the Plan Commencement Date after Encashment or Withdrawal, or if the Plan Value at any time is less than the Minimum Plan Value. The amount of the charge varies depending on how soon after allocation of the relevant Contributions you withdraw from your Plan.
(b) The Exit Charge is determined in accordance with the following table and there will be no Exit Charge after 60 months from the Plan Commencement Date has elapsed.
(c) Exit charge rate depending on the length of remaining months, which is counted on a whole monthly basis.
(d) The base of calculation of Exit Charge is the amount of each Contribution or the Plan Value of Units purchased by each Contribution whichever is higher.
(e) The Exit Charge shall be paid by cancelling the Units to be allocated for the Plan Account. Holding Period per Contribution Exit Charge Rate % Holding Period per contribution Exit Charge Rate % Holding Period per Contribution Exit Charge Rate % 1 month 10.0000 21 month 6.6680 41 month 3.3360 2 month 9.8334 22 month 6.5014 42 month 3.1694 3 month 9.6668 23 month 6.3348 43 month 3.0028 4 month 9.5002 24 month 6.1682 44 month 2.8362 5 month 9.3336 25 month 6.0016 45 month 2.6696 6 month 9.1670 26 month 5.8350 46 month 2.5030 7 month 9.0004 27 month 5.6684 47 month 2.3364 8 month 8.8338 28 month 5.5018 48 month 2.1698 9 month 8.6672 29 month 5.3352 49 month 2.0032 10 month 8.5006 30 month 5.1686 50 month 1.8366 11 month 8.3340 31 month 5.0020 51 month 1.6700 12 month 8.1674 32 month 4.8354 52 month 1.5034 13 month 8.0008 33 month 4.6688 53 month 1.3368 14 month 7.8342 34 month 4.5022 54 month 1.1702 15 month 7.6676 35 month 4.3356 55 month 1.0036 16 month 7.5010 36 month 4.1690 56 month 0.8370 17 month 7.3344 37 month 4.0024 57 month 0.6704 18 month 7.1678 38 month 3.8358 58 month 0.5038 19 month 7.0012 39 month 3.6692 59 month 0.3372 20 month 6.8346 40 month 3.5026 60 month 0.1706
Exit Charge. 5.1 To the extent that the estimated Exit Charge of (pound)3,000,000 is greater than the Actual Exit Charge paid as contemplated under Article 11 of the agreement, then the excess (the "Exit Charge Excess") shall be added to the Catastrophe Provision in accordance with Part 7 below.
Exit Charge. We may charge you Exit Charges to the extent that such charges are approved or allowed by the AER.
Exit Charge. 16 12. Employees....................................................16 13. Loans........................................................17 14. Guarantees...................................................17 15.