Common use of Line of Credit Termination and/or Reduction Fees Clause in Contracts

Line of Credit Termination and/or Reduction Fees. If (i) Xxxxx Fargo terminates the Line of Credit during a Default Period, or if (ii) Company terminates the Line of Credit on a date prior to the Maturity Date, or if (iii) Company and Xxxxx Fargo agree to reduce the Maximum Line Amount, then Company shall pay Xxxxx Fargo as liquidated damages a termination or reduction fee in an amount equal to a percentage of the Maximum Line Amount (or the reduction of the Maximum Line Amount, as the case may be) calculated as follows: (A) two percent (2.0%) if the termination or reduction occurs on or before the first anniversary of the Agreement Date and (B) one percent (1.0%) if the termination or reduction occurs after the first anniversary of the Agreement Date, but on or before the second anniversary of the Agreement Date; provided, however, that such termination fee will be waived in the event that the Line of Credit is refinanced by a commercial banking division of Xxxxx Fargo at least 18 months after the Agreement Date.

Line of Credit Termination and/or Reduction Fees. If (i) Xxxxx Fargo terminates the Line of Credit during a Default Period, or if (ii) Company terminates the Line of Credit on a date prior to the Maturity Date, or if (iii) Company and Xxxxx Fargo agree to reduce the Maximum Line Amount, then Company shall pay Xxxxx Fargo as liquidated damages a termination or reduction fee in an amount equal to a percentage of the Maximum Line Amount (or the reduction of the Maximum Line Amount, as the case may be) calculated as follows: (A) two three percent (2.03.0%) if the termination or reduction occurs on or before the first anniversary of the Agreement Date first Line of Credit Advance; (B) two percent (2.0%) if the termination or reduction occurs after the first anniversary of the first Line of Credit Advance, but on or before the second anniversary of the first Line of Credit Advance; and (BC) one percent (1.0%) if the termination or reduction occurs after the first anniversary of the Agreement Date, but on or before the second anniversary of the Agreement Date; provided, however, that such termination fee will be waived in the event that the first Line of Credit is refinanced by a commercial banking division of Xxxxx Fargo at least 18 months after the Agreement DateAdvance.

Line of Credit Termination and/or Reduction Fees. If (i) Xxxxx Wxxxx Fargo terminates the Line of Credit during a Default Period, or if (ii) Company terminates the Line of Credit on a date prior to the Maturity Date, or if (iii) Company and Xxxxx Wxxxx Fargo agree to reduce the Maximum Line Amount, then Company shall pay Xxxxx Wxxxx Fargo as liquidated damages a termination or reduction fee in an amount equal to a percentage of the Maximum Line Amount (or the reduction of the Maximum Line Amount, as the case may be) calculated as follows: (A) two percent (2.0%) if the termination or reduction occurs on or before the first anniversary of the Agreement Date and first Line of Credit Advance; (B) one percent (1.0%) if the termination or reduction occurs after the first anniversary of the Agreement Datefirst Line of Credit Advance, but on or before the second anniversary of the Agreement Date; provided, however, that such termination fee will be waived in the event that the first Line of Credit is refinanced by a commercial banking division of Xxxxx Fargo at least 18 months Advance; and (C) one percent (1.0%) if the termination or reduction occurs after the Agreement Datesecond anniversary of the first Line of Credit Advance.