Milestone Fee. Notwithstanding any provisions of the Credit Agreement and the other Loan Documents to the contrary, if the Commitments have not been terminated and the Obligations have not been paid in full in immediately available funds to Lender on or before March 31, 2017, Borrowers shall pay to Lender a fee in the amount of $75,000 (the “Milestone Fee”), which Milestone Fee shall be retained by Lender (solely for its account) and shall be fully earned on the date hereof and non-refundable when paid.
Appears in 2 contracts
Sources: Credit Agreement (Sphere 3D Corp), Credit Agreement (Sphere 3D Corp)