Reduction Fee definition

Reduction Fee is defined in Section 2.3(a).

Reduction Fee has the meaning set forth in the Fee Letter.

Reduction Fee means an amount equal to the product of (A) the Applicable Spread in effect on the date of the permanent reduction of the Commitment pursuant to Section 2.01(h)(i) of the Agreement, (B) the difference between (x) the Available Commitment (without regard to any reductions thereto that may become subject to reinstatement) prior to such permanent reduction and (y) Available Commitment (without regard to any reductions thereto that may become subject to reinstatement) after such permanent reduction and (C) a fraction, the numerator of which is equal to the number of days from and including the date of such permanent reduction to and including the one year anniversary of the Extension Date, and the denominator of which is 360.

Examples of Reduction Fee in a sentence

• If applicable, the Borrower shall pay to the Lenders, for their own use and benefit, the Commitment Reduction Fee in connection with any optional reduction of the Facility Amount, subject to and in accordance with the Lender Fee Letter.

• Off-Site Emission Reduction Fee (Off-Site Fee): a fee to be paid by the applicant to the District for any emission reductions required by the rule that are not achieved through on-site emission reduction measures.

• Off-Site Emission Reduction Fee Deferral Schedule (FDS): a payment schedule requested by the applicant and approved by the District for Off-Site Emission Reduction Fees that ensures contemporaneous off-site emission reductions for the development project.

• No Defaulting Lender shall be entitled to receive any Unused Fee or Reduction Fee for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such Unused Fee or Reduction Fee that otherwise would have been required to have been paid to that Defaulting Lender).

• For the avoidance of doubt, no Defaulting Lender shall be entitled to receive any Unused Fee or Reduction Fee for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such Unused Fee or Reduction Fee that otherwise would have been required to have been paid to that Defaulting Lender).

More Definitions of Reduction Fee

Reduction Fee has the meaning set forth in the Fee and Interest Rate Agreement.

Reduction Fee means a payment to the Lenders with respect to any reduction of the Revolving Credit Commitments by the Borrower, with respect to which a Reduction Fee is due pursuant to Section 1.5, of three percent (3%) of the amount of the reduction if it occurs in the first year, two percent (2%) of the amount of the reduction if it occurs in the second year, and one percent (1%) of the amount of the reduction if it occurs in the third year.

Reduction Fee means a payment to the Bank of 3 percent (3%) of the principal amount of any reduction of the Commitment by the Borrower during the period ending at the close of business of the day immediately prior to the Termination Date, other than by reason of a Non-Premium Event or the occurrence of the Termination Date.

Reduction Fee has the meaning set forth in the Lender Fee Letter. “Register” has the meaning assigned to such term in Section 10.07(c)(iv). “Reimbursed Taxes” means Taxes other than Excluded Taxes.

Reduction Fee has the meaning set forth in Section 3.1(a) hereof.

Reduction Fee means an amount equal to the product of (A) the Commitment Fee Rate in effect on the date of the permanent reduction of the Commitment pursuant to Section 2.7(a) hereof, (B) the difference between (x) the Available Commitment (without regard to any Revolving Loans outstanding) on the date of such reduction and (y) the Available Commitment (without regard to any Revolving Loans outstanding) after the reduction and (C) a fraction, the numerator of which is equal to the number of days from and including the date of such reduction to and including the date which is twelve (12) months following the Effective Date, and the denominator of which is 360.

Reduction Fee means a nonrefundable fee with respect to any permanent reduction of the Facility Amount pursuant to Section 2.5(a) equal to, if such reduction occurs: