Examples of Eleventh Amendment Fee in a sentence
No portion of the payment on account of the Eleventh Amendment Fee, shall be applied or considered a payment of the Credit Party Expenses for which the Borrower Representative or any of the Loan Parties is obligated under the terms of the Credit Agreement or this Amendment.
The Administrative Agent shall have received a fully executed copy of that certain Eleventh Amendment Fee Letter, dated as of the date hereof, by and among the Borrower, the Administrative Agent, and the Lenders (the “ Fee Letter”).
The Eleventh Amendment Fee shall be due and payable on the Effective Date and as a condition precedent to this Amendment.
The Borrowers agree that the Eleventh Amendment Fee has been fully earned as of the Eleventh Amendment Effective Date and that no portion of the Eleventh Amendment Fee shall be refundable for any reason whatsoever.
Payment of the Eleventh Amendment Fee shall, upon receipt thereof by the respective recipient, be non-refundable and shall, upon payment, be the sole and absolute property of such recipient, as applicable.
For the avoidance of doubt, upon satisfaction of the conditions set forth in Section 4, the Agent shall deduct the Eleventh Amendment Fee from the outstanding principal balance of the Existing Loans, and the Yield Enhancement Fee shall be calculated exclusive of the Eleventh Amendment Fee.
The Eleventh Amendment Fee and all other fees required to be paid on or before the Effective Date to the Administrative Agent, the Lenders, or the Arrangers pursuant to Section 9 below and pursuant to the Fee Letter between the Administrative Agent, the Arrangers, and Borrower Representative shall have been paid by, or on behalf of, the Loan Parties.
Notwithstanding anything to the contrary in that certain Eleventh Amendment to Loan and Security Agreement by and between Bank and Borrower dated as of December 4, 2014 (the “Eleventh Amendment”), Borrower hereby acknowledges and agrees that if Borrower, Malaysian Subsidiary and Bermuda Subsidiary fail to execute the Replacement Loan Documents, then Borrower shall pay the Eleventh Amendment Fee (as defined in the Eleventh Amendment) to Bank on September 25, 2015.
For purposes of clarification, no Eleventh Amendment Fee shall be charged if the Replacement Loan Documents are executed by Borrower, Malaysian Subsidiary and Bermuda Subsidiary.
The Borrowers shall pay to the Agent for the account of the Lenders, in accordance with their Pro Rata Shares, an amendment fee (the "Eleventh Amendment Fee") equal to $300,000, of which (a) $150,000 shall be due and payable on the Eleventh Amendment Effective Date, and (b) $150,000 shall be due and payable on the earlier to occur of December 15, 2012, and the date $250,000,000 of the aggregate principal amount of Indebtedness outstanding under the New Parent Term Loan Agreement is assumed by the MLP.