Term Loan Prepayment Fee definition

Term Loan Prepayment Fee means a fee equal to (i) two percent (2.00%) of the principal amount of the Term Loan prepaid if the prepayment is on or prior to the first anniversary of the First Amendment Effective Date and (ii) one percent (1.00%) of the principal amount of the Term Loan prepaid if the prepayment is after the first anniversary of the First Amendment Effective Date but on or prior to the second anniversary of the First Amendment Effective Date.

Term Loan Prepayment Fee means (a) on or prior to the first anniversary of the Closing Date, 3.00% of the principal amount of the Term Loan to be repaid, (b) following the first anniversary of the Closing Date and on or prior to the second anniversary of the Closing Date, 2.00% of the principal amount of the Term Loan to be repaid, (c) following the second anniversary of the Closing Date and on or prior to the third anniversary of the Closing Date, 1.00% of the principal amount of the Term Loan to be repaid, and (d) following the third anniversary of the Closing Date $0.

Term Loan Prepayment Fee means (a) for the period from the Closing Date through the first anniversary of the Closing Date, an amount equal to five percent (5%) of the principal amount to be prepaid, (b) for the period from the second anniversary of the Closing Date through the third anniversary of the Closing Date, an amount equal to three percent (3%) of the principal amount to be prepaid, and (c) for the period from the third anniversary of the Closing Date through the fourth anniversary of the Closing Date, an amount equal to one percent (1%) of the principal amount to be prepaid; provided, however, that, notwithstanding the foregoing, the Term Loan Prepayment Fee with respect to a prepayment of the Term Loan pursuant to Section 2.8(b) or subdivision (vi) of Section 5.12(f) hereof, shall be an amount equal to one percent (1%) of the principal amount to be prepaid.

Examples of Term Loan Prepayment Fee in a sentence

• If the Term Loan is accelerated following the occurrence of an Event of Default, Borrower shall immediately pay to Bank an amount equal to the sum of (a) all outstanding principal with respect to the Term Loan, plus accrued and unpaid interest thereon, (b) the Term Loan Prepayment Fee, and (c) all other sums, including Bank Expenses, if any, that shall have become due and payable hereunder in connection with the Term Loan.

• In the event that the Borrowers prepay, or are required to prepay, the Term Loans in whole or in part (whether such prepayment is mandatory, voluntary or otherwise), including, without limitation, as a result of acceleration of the Obligations after the occurrence of an Event of Default, then, on the effective date of such prepayment, the Borrowers shall pay to Agent, for the ratable benefit of the Lenders, an amount equal to the applicable Term Loan Prepayment Fee with respect to such prepayment.

• For certainty, each prepayment of the Term Loans under this Section 5.3 shall be accompanied by accrued interest and the Term Loan Prepayment Fee with respect to the principal amount of Term Loans being prepaid.

• All parties to this Agreement agree and acknowledge that the Term Lenders will have suffered damages on account of the early termination of this Agreement or prepayment of any portion of the Term Loan and that, in view of the difficulty in ascertaining the amount of such damages, the Term Loan Prepayment Fee constitutes reasonable compensation and liquidated damages to compensate the Term Lenders on account thereof.

• The Second Term Loan Prepayment Fee shall be equal to the applicable Loan Prepayment Percentage provided below, multiplied by the outstanding principal amount of the Second Term Note so prepaid.

More Definitions of Term Loan Prepayment Fee

Term Loan Prepayment Fee shall have the meaning set forth in the Fee Letter.

Term Loan Prepayment Fee means a fee equal to (i) two percent (2.00%) of the principal amount of the Term Loan prepaid if the prepayment is on or prior to the first anniversary of the Third Amendment Effective Date and (ii) one percent (1.00%) of the principal amount of the Term Loan prepaid if the prepayment is after the first anniversary of the Third Amendment Effective Date but on or prior to the second anniversary of the Third Amendment Effective Date.

Term Loan Prepayment Fee has the meaning set forth in Section 4.2(c) hereof.

Term Loan Prepayment Fee is an amount equal to: (i) two percent (2.0%) of the outstanding balance of the Term Loan if an Event of Default occurs or the Term Loan is repaid on or before the one-year anniversary of the Term Loan Closing Date, or (ii) one percent (1.0%) of the outstanding balance of the Term Loan if an Event of Default occurs or the Term Loan is repaid after the one-year anniversary of the Term Loan Closing Date, but on or before the two-year anniversary of the Term Loan Closing Date.

Term Loan Prepayment Fee means, with respect to any payment or prepayment of the Term Loan (including upon acceleration of the maturity of the Term Loan but excluding payments pursuant to Section 2.07(d)), an amount equal to (a) on or prior to the first anniversary of the First Amendment Effective Date, four percent (4%) of the principal amount of the Term Loan required to be repaid or prepaid (other than pursuant to Section 2.07(d)), (b) after the first anniversary of the First Amendment Effective Date and on or prior to the second anniversary of the First Amendment Effective Date, two percent (2%) of the principal amount of the Term Loan required to be repaid or prepaid (other than pursuant to Section 2.07(d)), (c) after the second anniversary of the First Amendment Effective Date and on or prior to the third anniversary of the First Amendment Effective Date, one percent (1%) of the principal amount of the Term Loan required to be repaid or prepaid (other than pursuant to Section 2.07(d)), and (d) after the third anniversary of the First Amendment Effective Date, $0.”

Term Loan Prepayment Fee has the meaning assigned to it in the Term Loan Promissory Note.

Term Loan Prepayment Fee shall be an additional fee payable to the Collateral Agent, for the benefit of each Lender according to each Lender’s pro rata share of the Term Loan Commitment (based upon the respective Term Loan Commitment Percentage of each Lender) in amount equal to: