Final Payment Fee definition
Examples of Final Payment Fee in a sentence
The Maximum Final Payment Fee shall be payable if the sample taken by the Contracting Body, pursuant to the Grossing Up Procedure, shows that the Prime Contractor has performed each of the Minimum Service Levels within the terms of the KPIs. The Maximum Final Payment Fee may be claimed by the Prime Contractor from February 2015 onwards, provided that the Parties have not engaged in the Performance Improvement Process.
This shall include, at Bank’s option, all principal outstanding, all accrued and unpaid interest, all attorneys’ and professional fees and costs, court costs and expenses, and all other sums, if any, that shall have become due and payable with respect to this Loan Agreement including the Final Payment Fee together with any Make Whole Premium-C.
On the earlier of the Term Loan Maturity Date, the prepayment of all Credit Extensions, or the date the Obligations become due and payable, a Final Payment Fee equal to (i) One Hundred Fifty Thousand Dollars ($150,000) plus (ii) an additional amount equal to 1.00% of the aggregate amount of Term Loan Tranche 2 Advances made during the term of this Agreement.
Such Final Payment Fee is in lieu of and replaces any other “final payment fee” described in any prior loan modification agreement or in any other Loan Document.
Concurrently with Borrower’s final payment of a Term Loan B Advance and not later than the Term Loan B Maturity Date, Borrower shall pay to Bank a Final Payment Fee - B (“Final Payment Fee-B”), with respect to such Term Loan B Advance, in an amount equal to three percent (3.00%) of the aggregate amount of the Term Loan B Advance.
In the event that the Contracting Body finds, under the Grossing Up Procedure, on receipt of a claim by the Prime Contractor, that the Minimum Service Levels have not been met to a degree of 100% compliance, then the Actual Final Payment Fee shall become payable, rather than the Maximum Final Payment Fee, with the difference between the two sums reflecting the appropriate deduction administered by the Contracting Body under the Grossing Up Procedure.
Borrower shall use the proceeds of the Credit Extensions (i) for the repayment in full of all outstanding Term Loans (as defined in the Prior Loan Agreement) extended under Prior Loan Agreement and payment of the Prior Loan Agreement Final Payment Fee, and (ii) as working capital and to fund its general business requirements and not for personal, family, household or agricultural purposes.
Borrowers’ obligation to pay the Final Payment Fee shall survive any termination of this Agreement.
In addition to the payment of the Term Loan Final Payment Fee, Borrower shall reimburse the Lenders for all legal fees and expenses reasonably incurred in connection with the Existing Loan Documents and this Loan Modification Agreement.
On the date upon which the outstanding principal amount of any Term Loan is repaid in full, or if earlier, is required to be repaid in full (whether by scheduled payment, voluntary prepayment, acceleration of the Obligations pursuant to Section 8.2 or otherwise), Borrower shall pay to Agent, for the ratable accounts of Lenders, a fee equal to 3.00% of the original principal amount of such Term Loan (the “Final Payment Fee”), which Final Payment Fee shall be deemed to be fully-earned on the Closing Date.