Reduction Fee definition

Reduction Fee is defined in Section 2.3(a).

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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 has the meaning set forth in the Fee Letter.

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.
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).
In addition to granting of the aforesaid licenses under the Technology and upon Effective Date of this Agreement and the payment of the Documentation and Royalty Reduction Fee described in Paragraphs III.A. and III.B. above, Tessera will transfer to Licensee the standard documentation for the Technology, including certain TCC package specifications, Standards and Technical Information for the standard TCC packages licensed herein, including those items that are identified in Attachment B to this Agreement.
If the Borrowers shall terminate or reduce the Commitment in whole or in part at any time or times prior to the first anniversary of the date of this Agreement, at the effective date of each such termination or reduction they shall pay to the Lenders a Commitment Reduction Fee; provided, however, that the Borrowers shall not be required to pay a Commitment Reduction Fee more than once on the same reduced portion of the Commitment.

More Definitions of Reduction Fee

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.

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

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

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 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 an amount calculated using the following formula: two-fifths of (.50% x A x B) divided by 365, where A is the amount by which the Aggregate Commitments are reduced pursuant to Section 2.01(c) and B is the number of days remaining in the term of the Loan as of the date of the reduction.

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.