Takeout Fee definition

Takeout Fee means, with respect to any prepayment or repayment of the Second Amendment Incremental Term Loans, the amount set out in the table below based on the date on which such prepayment or repayment is made and whether such prepayment or repayment is made under Takeout Scenario A or Takeout Scenario B.
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Takeout Fee means, with respect to any prepayment or repayment of the Second Amendment Incremental Term Loans, the amount set out in the table below based on the date on which such prepayment or repayment is made and whether such prepayment or repayment is made under Takeout Scenario A or Takeout Scenario B. Second Amendment Effective Date to August 31, 2020 $ 11,250,000 $ 13,500,000 50 % September 1, 2020 to September 30, 2020 $ 12,500,000 $ 15,000,000 55 % October 1, 2020 to October 31, 2020 $ 13,750,000 $ 16,500,000 60 % November 1, 2020 to November 30, 2020 $ 15,000,000 $ 18,000,000 65 % December 1, 2020 to December 31, 2020 $ 16,250,000 $ 19,500,000 70 % January 1, 2020 to January 31, 2021 $ 17,500,000 $ 21,000,000 75 % February 1, 2021 to February 28, 2021 $ 18,750,000 $ 22,500,000 80 % March 1, 2021 to March 31, 2021 $ 20,000,000 $ 24,000,000 85 % April 1, 2021 or thereafter $ 21,250,000 $ 25,500,000 90 %
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Examples of Takeout Fee in a sentence

  • The Takeout Fee shall be payable in GBP on the Final Maturity Date.

  • In connection with any prepayment or repayment of the principal amount of the Second Amendment Incremental Term Loans, whether voluntary or mandatory, at maturity, by acceleration or otherwise, the Borrower hereby agrees to pay to each Second Amendment Incremental Term Lender the applicable Takeout Fee.

  • The Takeout Fee payable in accordance with this Section 2.11(b) represents an essential component of the compensation to the Second Amendment Incremental Term Lenders and the Borrower and each other Loan Party agree that the Second Amendment Incremental Term Lenders would not have agreed to make the Second Amendment Incremental Term Loans without the agreement of the Borrower and the other Loan Parties to pay the Takeout Fee and that it is reasonable under the circumstances currently existing.

  • The Takeout Fee shall also be payable in the event the Obligations (and/or this Agreement) are satisfied or released by foreclosure (whether by power of judicial proceeding), deed in lieu of foreclosure or by any other means.