Exit Charge definition
Examples of Exit Charge in a sentence
If you wish to withdraw an amount in excess of the Maximum Partial Withdrawal, this will be regarded as an encashment under Clause 3.5 and therefore subject to the Exit Charge.
The Parties further acknowledge and agree that the Agent and the Lenders would not have entered into this Agreement, and the Lenders would not have provided the Loans without the Loan Parties’ agreeing to pay the Exit Charge in the aforementioned instances.
The Parties also acknowledge and agree that the Exit Charge set forth in this Section 2.8(b) is not intended to act as a penalty or to punish the Borrower or any other Loan Party for any such payment, repayment, redemption, prepayment or termination.
The Parties acknowledge and agree that the Lenders have foregone receiving additional compensation, yield enhancement and pricing on the Initial Convertible Loan Disbursement Date in return for the Parties’ agreeing to the Exit Charge.
The Exit Charge is an Obligation, is fully earned on the Initial Convertible Loan Disbursement Date and shall be due and payable in cash upon each such payment, repayment, redemption or prepayment of the applicable Loans.