Applicable Payment Fee definition
Applicable Payment Fee means (a) on or prior to the 2nd anniversary of the Third Amendment Date, three percentage points, (b) on or prior to the 3rd anniversary of the Third Amendment Date, two percentage points, and (c) after the 3rd anniversary of the Third Amendment Date zero percentage points, in each, case, times the amount of the Term Loan B Loans being paid for any reason other than (i) payments from Excess Cash Flow under Section 3.02(d) and (ii) payments from Net Casualty/Condemnation Proceeds under Section 3.02(a).
Applicable Payment Fee means (a) on or prior to the 1st anniversary of the Closing Date, two percentage points, (b) on or prior to the 2nd anniversary of the Closing Date, one percentage point, and (c) after the second anniversary of the Closing Date zero percentage points, in each, case, times the amount of the Term Loan B Loans being paid for any reason other than (i) payments from Excess Cash Flow under SECTION 3.02(d), (ii) payments from Net Casualty/Condemnation Proceeds under SECTION 3.02(a), or (iii) payments from the ▇▇▇▇ County Net Proceeds in excess of $12,000,000.
Applicable Payment Fee means (i) in the case of the B Term Loans an amount equal to the sum of the amount of the B Term Loans being paid at any time multiplied by, (A) from and after the Closing Date through and including the first anniversary of the Closing Date, 2.00%, (B) after the first anniversary of the Closing Date through and including the second anniversary of the Closing Date, 1.00% and (C) thereafter, 0.00%, (ii) in the case of the A Term Loans, $0 and (iii) in the case of the RF Loans, $0.
Examples of Applicable Payment Fee in a sentence
The Borrowers agree to pay the Applicable Payment Fee on all amounts repaid or prepaid on the Term Loan B Obligations and no amounts repaid or prepaid may be reborrowed.
Any prepayment of any Term Loan B Loans shall be accompanied by the payment of all accrued and unpaid interest with respect to the principal being prepaid through the date of prepayment and any Applicable Payment Fee pursuant to SECTION 3.03(a).