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, (ii) Companies terminate the Line of Credit on a date other than on the Maturity Date, (iii) Companies terminate the Line of Credit on the Maturity Date but fail to provide Xxxxx Fargo with an Authenticated Record at least 60 days prior to the Maturity Date of Companies’ intention to terminate the Line of Credit on the Maturity Date, or (iv) Company Funds Administrator and Xxxxx Fargo agree to reduce the Maximum Line Amount, then Companies 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) three percent (3%) if the termination or reduction occurs on or before June 30, 2009; (B) two percent (2%) if the termination or reduction occurs after June 30, 2009, but on or before June 30, 2010; and (C) one percent (1%) if the termination or reduction occurs after June 30, 2010.

Line of Credit Termination and/or Reduction Fees. If (i) Xxxxx Fargo terminates the Line of Credit during a Default Period, (ii) Companies terminate Company terminates or reduces the Line of Credit on a date other than on prior to the Maturity Date, (iii) Companies terminate Company terminates or reduces the Line of Credit on the Maturity Date but fail to provide Xxxxx Fargo in accordance with an Authenticated Record at least 60 days prior to the Maturity Date of Companies’ intention to terminate the Line of Credit on the Maturity DateSection 1.8(b), or (iv) Company Funds Administrator and Xxxxx Fargo agree to reduce the Maximum Line Amount, then Companies 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) three percent (33.0%) if the termination or reduction occurs on or before June September 30, 20092012; (B) two percent (22.0%) if the termination or reduction occurs after June September 30, 2009, but 2012 and on or before June September 30, 20102013; and (C) one percent (11.0%) if the termination or reduction occurs after June September 30, 20102013.”

Line of Credit Termination and/or Reduction Fees. If (i) Xxxxx Fargo terminates the Line of Credit during a Default Period, (ii) Companies terminate Company terminates or reduces the Line of Credit on a date other than on prior to the Maturity Date, (iii) Companies terminate Company terminates or reduces the Line of Credit on the Maturity Date but fail to provide Xxxxx Fargo in accordance with an Authenticated Record at least 60 days prior to the Maturity Date of Companies’ intention to terminate the Line of Credit on the Maturity DateSection 1.8(b), or (iv) Company Funds Administrator and Xxxxx Fargo agree to reduce the Maximum Line Amount, then Companies 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) three percent (33.0%) if the termination or reduction occurs on or before June 30May 31, 20092015; (B) two percent (22.0%) if the termination or reduction occurs after June 30May 31, 20092015, but and on or before June 30May 31, 20102016; and (C) one zero percent (1%-0-%) if the termination or reduction occurs after June 30May 31, 20102016.”