Common use of Final Payment Fee Clause in Contracts

Final Payment Fee. On the date upon which the outstanding principal amount of the Term Loan is repaid in full, or if earlier, is required to be repaid in full (whether by scheduled payment, voluntary prepayment, acceleration of the Obligations pursuant to Section 8.2 or otherwise), Borrower shall pay to Agent, for the benefit of Lenders in accordance with their Pro Rata Shares, a non-refundable fee equal to 3.5% of the original principal amount of the Term Loan (the “Final Payment Fee”), which Final Payment Fee shall be deemed to be fully earned on the Closing Date. If for any reason the Term Loan is prepaid in part prior to the Scheduled Maturity Date (which for the avoidance of doubt shall not be permitted under this Agreement), (i) Borrower shall pay on the date of any such partial prepayment a fee equal to 3.5% of the principal amount of the Term Loan so prepaid, and (ii) the Final Payment Fee due and payable on the date the Term Loan is repaid in full or required to be repaid in full shall be reduced by the aggregate amount of any such payments described in the foregoing clause (i).

Appears in 1 contract

Samples: Loan and Security Agreement (Infraredx Inc)

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Final Payment Fee. On the date upon which the outstanding principal amount of the Term Loan is repaid in full, or if earlier, is required to be repaid in full (whether by scheduled payment, voluntary prepayment, acceleration of the Obligations pursuant to Section 8.2 or otherwise), Borrower shall pay to Agent, for the benefit of Lenders in accordance with their Pro Rata Shares, a non-refundable fee equal to 3.54.00% of the original principal amount of the Term Loan (the “Final Payment Fee”), which Final Payment Fee shall be deemed to be fully earned on the Closing Datedate such Term Loan is made. If for any reason the Term Loan is prepaid in part prior to the Scheduled Final Maturity Date (which for the avoidance of doubt shall not be permitted under this Agreement)Date, (i) Borrower shall pay on the date of any such partial prepayment a fee equal to 3.54.00% of the principal amount of the Term Loan so prepaidprepaid (a “Partial Final Payment Fee”), and (ii) the Final Payment Fee due and payable on the date the Term Loan is repaid in full or required to be repaid in full shall be reduced by the aggregate amount of any such payments described in the foregoing clause (i)Partial Final Payment Fees.

Appears in 1 contract

Samples: Loan and Security Agreement (Navidea Biopharmaceuticals, Inc.)

Final Payment Fee. On the date upon which the outstanding principal amount of the any Term Loan is repaid in full, or if earlier, is required to be repaid in full (whether by scheduled payment, voluntary prepayment, mandatory prepayment pursuant to Section 2.5(b)(i), acceleration of the Obligations pursuant to Section 8.2 or otherwise), Borrower shall pay to Agent, for the benefit of Lenders in accordance with their Pro Rata Shares, a non-refundable fee equal to 3.5***% of the original principal amount of the such Term Loan (the “Final Payment Fee”), which Final Payment Fee shall be deemed to be fully earned on the Closing Datedate such Term Loan is made. If for any reason the any Term Loan is prepaid in part prior to the Scheduled Final Maturity Date (which for the avoidance of doubt shall not be permitted under this Agreement)Date, (i) Borrower shall pay on the date of any such partial prepayment a fee equal to 3.5***% of the principal amount of the any Term Loan so prepaid, and (ii) the Final Payment Fee due and payable on the date the such Term Loan is repaid in full or required to be repaid in full shall be reduced by the aggregate amount of any such payments described in the foregoing clause (i).

Appears in 1 contract

Samples: Loan and Security Agreement (GenMark Diagnostics, Inc.)

Final Payment Fee. On the date upon which the outstanding principal amount of the Term Loan is repaid in full, or if earlier, is required to be repaid in full (whether by scheduled payment, voluntary prepayment, mandatory prepayment pursuant to Section 2.5(b)(i), acceleration of the Obligations pursuant to Section 8.2 or otherwise), Borrower shall pay to Agent, for the benefit of Lenders in accordance with their Pro Rata Shares, a non-refundable fee equal to 3.54.00% of the original principal amount of the Term Loan (the “Final Payment Fee”), which Final Payment Fee shall be deemed to be fully earned on the Closing Datedate such Term Loan is made. If for any reason the Term Loan is prepaid in part prior to the Scheduled Final Maturity Date (which for the avoidance of doubt shall not be permitted under this Agreement), (i) Borrower shall pay on the date of any such partial prepayment a fee equal to 3.54.00% of the principal amount of the Term Loan so prepaid, and (ii) the Final Payment Fee due and payable on the date the Term Loan is repaid in full or required to be repaid in full shall be reduced by the aggregate amount of any such payments described in the foregoing clause (i).

Appears in 1 contract

Samples: Loan and Security Agreement (Cas Medical Systems Inc)

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Final Payment Fee. On the date upon which the outstanding principal amount of the Term Loan is repaid in full, or if earlier, is required to be repaid in full (whether by scheduled payment, voluntary prepayment, mandatory prepayment pursuant to Section 2.5(b)(i), acceleration of the Obligations pursuant to Section 8.2 or otherwise), Borrower shall pay to Agent, for the benefit of Lenders in accordance with their Pro Rata Shares, a non-refundable fee equal to 3.53% of the original principal amount of the Term Loan (the “Final Payment Fee”), which Final Payment Fee shall be deemed to be fully earned on the Closing Datedate such Term Loan is made. If for any reason the Term Loan is prepaid in part prior to the Scheduled Final Maturity Date (which for the avoidance of doubt shall not be permitted under this Agreement), (i) Borrower shall pay on the date of any such partial prepayment a fee equal to 3.53% of the principal amount of the Term Loan so prepaid, and (ii) the Final Payment Fee due and payable on the date the Term Loan is repaid in full or required to be repaid in full shall be reduced by the aggregate amount of any such payments described in the foregoing clause (i).

Appears in 1 contract

Samples: Loan and Security Agreement (Siga Technologies Inc)

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