Waiver Fee Sample Clauses
A Waiver Fee clause establishes a payment that one party must make if they request the other party to waive a contractual right or obligation. Typically, this fee is triggered when a party seeks to avoid or modify a specific requirement, such as a deadline or performance condition, and the other party agrees to grant the waiver in exchange for compensation. The core function of this clause is to compensate the non-waiving party for any inconvenience or risk associated with granting the waiver, thereby discouraging frivolous waiver requests and ensuring that any deviation from the contract terms is taken seriously.
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Waiver Fee. If the Bank, at its discretion, agrees to waive or amend any terms of this Agreement, the Borrower will, at the Bank's option, pay the Bank a fee for each waiver or amendment in an amount advised by the Bank at the time the Borrower requests the waiver or amendment. Nothing in this paragraph shall imply that the Bank is obligated to agree to any waiver or amendment requested by the Borrower. The Bank may impose additional requirements as a condition to any waiver or amendment.
Waiver Fee. In consideration of the waiver described above, Borrowers agree to pay Lender a waiver fee of Two Thousand Five Hundred Dollars ($2,500) on the date hereof. The remainder of the page is intentionally left blank
Waiver Fee. If Lender, at its discretion, agrees to waive or amend any terms of this Agreement, Borrower will, at Lender's option, pay Lender a fee for each waiver or amendment in an amount advised by Lender at the time Borrower requests the waiver or amendment. Nothing in this Section shall imply that Lender is obligated to agree to any waiver or amendment requested by Borrower. Lender may impose additional requirements as a condition to any waiver or amendment.
Waiver Fee. The Borrower shall have paid to the Lender a waiver fee of $7,500.00 in immediately available funds.
Waiver Fee. In consideration for the waiver granted by the Agent herein and in addition to all other fees and costs, the Borrower hereby agrees to pay to the Agent a nonrefundable fee equal to Five Thousand Dollars ($5,000), which fee will be fully earned, due, and payable as of the date of this Waiver (the “Waiver Fee”).
Waiver Fee. The Borrowers shall have paid to the Agent (for distribution to the Lenders in accordance with their Applicable Percentages) a waiver and amendment fee of $43,000, which fee has been fully earned by the Lenders and is non-refundable in its entirety.
Waiver Fee. The Borrowers shall be required to pay Administrative Agent, for the benefit of the Origination Agent, a non-refundable fee in an aggregate amount equal to $3,000,000 (the “Waiver Fee”), which shall be deemed fully earned on the Waiver and Second Amendment Effective Date and shall be deemed paid on the Waiver and Second Amendment Effective Date by the Origination Agent funding an additional Term Loan to the Borrowers (the “PIK Loan”), the Administrative Agent shall deem the PIK Loan funded and make the appropriate recordations in the Register. The proceeds of the PIK Loan shall be applied to fund payment of the Waiver Fee, and thereafter the PIK Loan shall be considered to be part of the “Term Loans” under this Agreement and secured by the Collateral under the Security Agreement and the other Loan Documents and shall bear interest and constitute Term Loans hereunder and shall constitute Obligations under this Agreement and the other Loan Documents from and after the Waiver and Second Amendment Effective Date and (III) the Origination Agent or its designee shall receive warrants, in form and substance satisfactory to the Origination Agent, entitling the holder thereof to purchase a number of shares of the Parent’s (or any direct or indirect parent holding company) voting Equity Interest equal to the greater of (i) seven percent (7%) of enterprise value (as calculated in a manner to be mutually agreed and acceptable to the Origination Agent and the Parent, but in no event shall enterprise value be greater than the value of the consideration received by Parent in the event of a sale of 100% of the Equity Interests of Parent) on a fully diluted basis and (ii) $7,000,000, on terms, conditions and in a form reasonably acceptable to Origination Agent, and having an exercise price of $0.01 per share (collectively, the “Warrants”). The Warrants shall be immediately detachable and shall include customary anti-dilution, voting, registration, tag-along and drag-along rights acceptable to the Origination Agent. The anti-dilution provisions applicable to the Warrants shall at no time be less favorable to the holder thereof than those accorded by the Parent (or any direct or indirect parent holding company) to any other Person on or after the Effective Date. The Warrants shall be exercisable for a period of 7.5 years. In connection with the funding of the PIK Loan, the Origination Agent shall (or, at its election in writing to the Borrower and Administrative Agent, its A...
Waiver Fee. The Borrower shall pay to the Agent, simultaneously with the execution and delivery of this Amendment, for the pro rata benefit of the Banks, based on their respective Commitment Percentage, a waiver fee of $210,000.00 (the “Waiver Fee”).
Waiver Fee. Borrower shall have paid to Agent for the benefit ---------- of the Lenders in accordance with their respective Revolving Credit Commitments as set forth on Annex I as amended herein, a Waiver Fee in the amount of $250,000.
Waiver Fee. The Borrower shall have paid Lender a waiver fee of $5,000, which fee shall be fully earned upon the effectiveness of this Agreement.