Common use of Early Termination Fee Clause in Contracts

Early Termination Fee. If the Term is terminated by BACC upon the occurrence of an Event of Default, or is terminated by Borrower except as provided in Section 3.1, in view of the impracticability and extreme difficulty of ascertaining actual damages and by mutual agreement of the parties as to a reasonable calculation of BACC's lost profits as a result thereof, Borrower shall pay BACC upon the effective date of such termination a fee in an amount equal to four percent (4.0%) of the Advance Limit if such termination occurs on or prior the expiration of the Termination Date. Such fee shall be presumed to be the amount of damages sustained by BACC as the result of an early termination and Borrower acknowledges that it is reasonable under the circumstances currently existing. The fee provided for in this Section 3.2 shall be deemed included in the Obligations. Notwithstanding the foregoing, there shall be no termination fee if Borrower terminates the facility from funds obtained through a public offering as to Borrower or its parent corporation Eiger Technology, Inc. (formerly known as Alexa Ventures, Inc.). Notwithstanding the foregoing if after the date hereof Borrower obtains a bonafide commitment or offer of a commitment from a commercial bank (which shall not include a commercial finance company owned by a commercial bank) for replacement financing of the revolving credit facility provided for herein, Borrower shall apply to BACC for financing on the same terms and conditions of said commitment or offer and shall furnish to BACC a copy thereof (the "Offer"). BACC shall have twenty (20) days within which to accept or decline said application. If BACC declines said application, Borrower may consummate the financing with the third party who made the Offer on the same terms as set forth in said Offer and terminate the Term without payment of a termination fee.

Early Termination Fee. If the Term is terminated by BACC upon Upon the occurrence of an Event of DefaultApplicable Premium Trigger Event, or is terminated by the Borrower except as provided in Section 3.1shall pay to the Agent, in view for the ratable benefit of the impracticability Lenders, the Early Termination Fee. Notwithstanding anything to the contrary in this Agreement or any other Loan Document, it is understood and extreme difficulty of ascertaining actual damages and by mutual agreement of agreed that if the parties as to a reasonable calculation of BACC's lost profits Obligations are accelerated as a result thereofof the occurrence and continuance of any Event of Default (including by operation of law or otherwise), Borrower shall pay BACC upon the effective Early Termination Fee, if any, determined as of the date of acceleration, will also be due and payable and will be treated and deemed as though the Term Loan was prepaid as of such termination a fee in an amount equal to four percent (4.0%) date and shall constitute part of the Advance Limit if such termination occurs on or prior the expiration of the Obligations for all purposes herein. Any Early Termination Date. Such fee Fee payable in accordance with this Section 2.05(b) shall be presumed to be equal to the amount of liquidated damages sustained by BACC the Lenders as the result of an early termination the occurrence of the Applicable Premium Trigger Event, and Borrower acknowledges the Loan Parties agree that it is reasonable under the circumstances currently existing. The fee provided Early Termination Fee, if any, 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. THE LOAN PARTIES EXPRESSLY WAIVE THE PROVISIONS OF ANY PRESENT OR FUTURE STATUTE OR LAW THAT PROHIBITS OR MAY PROHIBIT THE COLLECTION OF THE FOREGOING EARLY TERMINATION FEE IN CONNECTION WITH ANY SUCH ACCELERATION. The Loan Parties expressly agree that (A) the Early Termination Fee is reasonable and is the product of an arm’s length transaction between sophisticated business people, ably represented by counsel, (B) the Early Termination Fee shall be payable notwithstanding the then prevailing market rates at the time payment is made, (C) there has been a course of conduct between Lenders and the Loan Parties giving specific consideration in this transaction for such agreement to pay the Early Termination Fee, (D) the Loan Parties shall be estopped hereafter from claiming differently than as agreed to in this Section 3.2 shall be deemed included in 2.05(b), (E) their agreement to pay the Obligations. Notwithstanding Early Termination Fee is a material inducement to the foregoingLenders to make the Term Loan, there shall be no termination fee if Borrower terminates and (F) the facility from funds obtained through Early Termination Fee represents a public offering as to Borrower or its parent corporation Eiger Technologygood faith, Inc. (formerly known as Alexa Ventures, Inc.). Notwithstanding the foregoing if after the date hereof Borrower obtains a bonafide commitment or offer of a commitment from a commercial bank (which shall not include a commercial finance company owned by a commercial bank) for replacement financing reasonable estimate and calculation of the revolving credit facility provided for herein, Borrower shall apply lost profits or damages of the Lenders and that it would be impractical and extremely difficult to BACC for financing on ascertain the same terms and conditions actual amount of said commitment damages to the Lenders or offer and shall furnish to BACC profits lost by the Lenders as a copy thereof (the "Offer"). BACC shall have twenty (20) days within which to accept or decline said application. If BACC declines said application, Borrower may consummate the financing with the third party who made the Offer on the same terms as set forth in said Offer and terminate the Term without payment result of a termination feesuch Applicable Premium Trigger Event.

Early Termination Fee. If the Term is terminated by BACC upon the occurrence of an Event of Default, or is terminated by Borrower except as provided in Section 3.1, in view of the impracticability and extreme difficulty of ascertaining actual damages and by mutual agreement of the parties as to a reasonable calculation of BACC's lost profits as a result thereof, Borrower shall pay BACC upon the effective date of such termination a fee in an amount equal to four percent (4.0%) of the Advance Limit if such termination occurs on or prior the expiration of the Termination Date. Such fee shall be presumed to be the amount of damages sustained by BACC as the result of an early termination and Borrower acknowledges that it is reasonable under the circumstances currently existing. The fee provided for in this Section 3.2 shall be deemed included in the Obligations. Notwithstanding the foregoing, there shall be no termination fee if Borrower terminates the facility from funds obtained through a public offering as to Borrower or its parent corporation Eiger Technology, Inc. (formerly known as Alexa Ventures, Inc.)Stock Offering. Notwithstanding the foregoing if after the date hereof Borrower obtains a bonafide commitment or offer of a commitment from a commercial bank (which shall not include a commercial finance company owned by a commercial bank) for replacement financing of the revolving credit facility provided for herein, Borrower shall apply to BACC for financing on the same terms and conditions of said commitment or offer and shall furnish to BACC a copy thereof (the "Offer"). BACC shall have twenty (20) days within which to accept or decline said application. If BACC declines said application, Borrower may consummate the financing with the third party who made the Offer on the same terms as set forth in said Offer and terminate the Term without payment of a termination fee.

Early Termination Fee. If the Term this Agreement is terminated by BACC Fremont upon the occurrence of an Event of Default, or is terminated by Borrower except as provided in at Borrower's request other than pursuant to Section 3.1, in view of the impracticability and extreme difficulty of ascertaining actual damages and by mutual agreement of the parties as to a reasonable calculation of BACCFremont's lost profits as a result thereof, Borrower shall pay BACC to Fremont upon the effective date of such termination a fee (Early Termination Fee) in an amount equal to four to: (a) two percent (4.02.0%) of the Advance Limit if such termination occurs on or prior the expiration to July 7, 1996; (b) one percent (1.0%) of the Advance Limit if such termination occurs after July 7, 1996; provided, however, that no Early Termination Fee shall be payable if (x) such termination occurs on the Renewal Date or subsequent anniversary of the Renewal Date, (y) Borrower has provided Fremont at least sixty (60) days prior written notice of termination in accordance with the terms and conditions of Section 3.1, and (z) the Obligations are indefeasibly paid in full on or before the termination date specified in such notice of termination. Such fee The Early Termination Fee shall be presumed to be the amount of damages sustained by BACC Fremont as the result of an the early termination and Borrower acknowledges agrees that it is reasonable under the circumstances currently existing. The fee Early Termination Fee provided for in this Section 3.2 shall be deemed included in the Obligations. Notwithstanding anything contained herein to the foregoingcontrary, there if and to the extent the Early Termination Fee constitutes interest under applicable law, the Early Termination Fee, when added to all other interest contracted for, charged or received under this Agreement or any other Loan Documents, shall not exceed, and shall be no termination fee if Borrower terminates limited to an amount which constitutes, interest at the facility from funds obtained through a public offering as to Borrower or its parent corporation Eiger Technology, Inc. (formerly known as Alexa Ventures, Inc.). Notwithstanding the foregoing if after the date hereof Borrower obtains a bonafide commitment or offer of a commitment from a commercial bank (which shall not include a commercial finance company owned by a commercial bank) for replacement financing of the revolving credit facility provided for herein, Borrower shall apply to BACC for financing on the same terms and conditions of said commitment or offer and shall furnish to BACC a copy thereof (the "Offer"). BACC shall have twenty (20) days within which to accept or decline said application. If BACC declines said application, Borrower may consummate the financing with the third party who made the Offer on the same terms as set forth in said Offer and terminate the Term without payment of a termination feeMaximum Rate.

Early Termination Fee. If the Term for any reason this Agreement is terminated by BACC upon on or prior to the occurrence second anniversary of an Event of Default, or is terminated by Borrower except as provided in Section 3.1the Closing Date, in view of the impracticability impracticality and extreme difficulty of ascertaining actual damages and by mutual agreement of the parties as to a reasonable calculation of BACC's Lenders’ lost profits as a result thereof, Borrower shall pay BACC to Agent, for the ratable account of Lenders, upon the effective date of such termination, an early termination a fee (“Revolving Credit Early Termination Fee”) in an the amount equal to: Amount Period 1% of Revolving Credit Loan Ceiling From the Closing Date to four percent (4.0%) and excluding the first anniversary of the Advance Limit if such termination occurs on or prior Closing Date 0.50% of Revolving Credit Loan Ceiling From the expiration first anniversary of the Closing Date to and including the second anniversary of the Closing Date The Revolving Credit Early Termination Date. Such fee Fee shall be presumed to be the amount of damages sustained by BACC Lenders as the a result of an such early termination and Borrower acknowledges agrees that it is reasonable under the circumstances currently existingexisting (including, but not limited to, the borrowings that are reasonably expected by Borrower hereunder and the interest, fees and other charges that are reasonably expected to be received by Lenders hereunder). The fee provided for in this Section 3.2 In addition (but without duplication), Lender shall be deemed included in the Obligations. Notwithstanding the foregoing, there shall be no entitled to such early termination fee upon the occurrence of any Event of Default described in Section 10.11, even if Borrower terminates the facility from funds obtained through a public offering as Agent or Lenders do not exercise their right to terminate this Agreement, but elects to provide financing to Borrower or its parent corporation Eiger Technology, Inc. (formerly known as Alexa Ventures, Inc.). Notwithstanding permit the foregoing if after use of cash collateral under the date hereof Borrower obtains a bonafide commitment or offer of a commitment from a commercial bank (which shall not include a commercial finance company owned by a commercial bank) for replacement financing of the revolving credit facility provided for herein, Borrower shall apply to BACC for financing on the same terms and conditions of said commitment or offer and shall furnish to BACC a copy thereof (the "Offer"). BACC shall have twenty (20) days within which to accept or decline said application. If BACC declines said application, Borrower may consummate the financing with the third party who made the Offer on the same terms as set forth in said Offer and terminate the Term without payment of a termination feeBankruptcy Code.