Covenant Fee definition

Covenant Fee. Borrower shall pay Silicon a fee of $6,250 each time Borrower fails to comply with the Profitability Financial Covenant set forth herein. Such fee shall be in addition to all interest and all other fees payable to Silicon and shall be non-refundable. ================================================================================ 4. MATURITY DATE (Section 6.1): One year from the date of this Agreement.
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Examples of Covenant Fee in a sentence

  • Upon termination of the Covenant, all other terms and conditions of this Agreement shall remain in effect except that Licensee will have no further obligation to pay the Covenant Fee as set forth in Section 4.9. Licensee will not be entitled to any refund of any portion of the Covenant Fee that was paid and shall be obligated to pay any amount accrued as of the date the Covenant terminates.

  • The Purchase Price shall be adjusted, on a dollar-for-dollar basis, to the extent the Net Assets do not equal or exceed forty-four percent (44%) of the sum of (i) Purchase Price as initially calculated under the terms of Section 1.4(a) and as adjusted under the terms of Section 1.5(a) herein; and (ii) the Covenant Fee (as defined in Section 9.1) (the "Net Asset Target") as of the Closing.

  • If at any time during the term of this Agreement, Borrower’s Adjusted Quick Ratio falls below 1.00 to 1.00, a Target Financial Covenant Fee of $12,500.

  • If at any time prior to a Change in Control, Executive gives written notice of his probable intention to terminate employment during the first 90 days after such Change in Control, the entire amount of the Covenant Fee shall be deposited into escrow immediately prior to the Change in Control.

  • MSK is to invoice Licensee for the Upfront License and Covenant Fee concurrently with, or shortly after, execution of this First Restated Agreement on the Execution Date.

  • The Covenant Fee shall be fully earned and payable upon the delivery of the Compliance, Pricing and Excess Cash Flow Certificates for such periods.

  • Notwithstanding the payment of any Covenant Fee, nothing contained herein shall be construed as a waiver of any Events of Default under the Loan Agreement or a limitation in any way of any of Agent’s and Lenders’ rights and remedies under the Loan Agreement.

  • The Covenant Fee is in addition to, and not in lieu of, all other fees charged to Borrowers under the Loan Documents.

Related to Covenant Fee

  • Renewal Fee means the fee that Borrower must pay Coast upon renewal of this Agreement pursuant to Section 9.1 hereof, in the amount set forth on the Schedule.

  • Upfront Fee has the meaning specified in Section 2.07 hereof.

  • Hire Fee the hire fee specified in Item 13.

  • Amendment Fee means any fee offered, paid or payable to any Lender Party by the Borrower or any Affiliate of the Borrower (whether directly or through the Administrative Agent or any other Person) in consideration for any waiver of, or agreement to amend or modify any provision of, any of the Financing Documents.

  • Default Fee means with respect to any amount due and payable by Seller in respect of any Aggregate Unpaids, an amount equal to the greater of (i) $1000 and (ii) interest on any such unpaid Aggregate Unpaids at a rate per annum equal to 2% above the Prime Rate.