Initial Commitment Fee. In consideration of the Commitment, and for no additional consideration, on the Effective Date (or as soon thereafter as is practicable) Seller shall sell and issue to Purchaser, and Purchaser shall purchase from Seller, (a) one million (1,000,000) shares of Senior Preferred Stock, with an initial liquidation preference equal to $1,000 per share ($1,000,000,000 (one billion dollars) liquidation preference in the aggregate), and (b) the Warrant.
Initial Commitment Fee. On the Closing Date Borrower agrees to pay to the Agent for distribution to the Lenders, including the Agent, an initial commitment fee in the amount set forth in the Agent’s Letter. The foregoing fee shall be fully earned and, at the option of the Agent, shall be paid by an Advance pursuant to Section 2.1, without prior demand by the Agent.
Initial Commitment Fee. Evidence that the Company ----------------------- shall have paid to the Bank the commitment fee set forth in that certain Commitment Letter dated July 17, 1997 relating to this
Initial Commitment Fee. A “Commitment Fee” equal to $590,625, due and payable on the date hereof. Each Bank shall be entitled to its Pro Rata Interest in such Commitment Fee.
Initial Commitment Fee. 1.1 Subject to paragraphs 1.2, 1.3 and 1.4 below, as consideration for the commitments and agreements of the CS Lenders under the Bridge Facility Agreement, you agree to pay (or cause to be paid) to the CS Lender, a commitment fee computed at a percentage rate per annum (calculated on the basis of the actual number of days elapsed over a 365-day year) of 1.50 per cent. on the undrawn and uncancelled amount of that CS Lender’s Commitment (the “Initial Commitment Fee”).
Initial Commitment Fee. In consideration of the Commitment, and for no additional consideration, on the Effective Date (or as soon thereafter as is practicable) Seller shall sell and issue to Purchaser, and Purchaser shall purchase from Seller, (a) one million (1,000,000) shares of Senior Preferred Stock, with an initial liquidation preference equal to $1,000 per share - 5 - xxxxx://xxx.xxx.xxx/Archives/xxxxx/data/310522/000095013308003096/w67133exv4w1.htm 6/15 ($1,000,000,000 (one billion dollars) liquidation preference in the aggregate), and (b) the Warrant.
Initial Commitment Fee. The Borrower shall pay to the Administrative Agent for the account of each Initial Revolving Credit Lender in accordance with its Pro Rata Share, a commitment fee (the “Initial Commitment Fee”) equal to the Applicable Rate with respect to Initial Commitment Fees times the actual daily amount by which the aggregate Initial Revolving Credit Commitment exceeds the sum of (A) the Outstanding Amount of Initial Revolving Credit Loans and (B) the Outstanding Amount of L/C Obligations; provided that any Initial Commitment Fee accrued with respect to any of the Initial Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such Initial Commitment Fee shall otherwise have been due and payable by the Borrower prior to such time; and provided further that no Initial Commitment Fee shall accrue on any of the Initial Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The Initial Commitment Fees shall accrue at all times from the Closing Date until the Maturity Date for the Initial Revolving Credit Facility, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Maturity Date for the Initial Revolving Credit Facility. The Initial Commitment Fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Initial Commitment Fee. On the Restatement Effective Date, the Borrower shall pay to the Administrative Agent, for the ratable account of each Lender, the following increments of the Commitment Fee:
