Unused Facility Fee. For each calendar quarter during the Availability Period beginning on January 1, 2022, the Borrowers shall pay to the Lender an Unused Facility Fee. Each Unused Facility Fee shall be payable in arrears within fifteen (15) Business Days following the end of the applicable calendar quarter, and any unpaid portion thereof shall be immediately due and payable upon any acceleration of the Obligations hereunder or upon the Final Maturity Date.
Appears in 3 contracts
Samples: Mezzanine Loan and Security Agreement (Offerpad Solutions Inc.), Mezzanine Loan and Security Agreement (Offerpad Solutions Inc.), Mezzanine Loan and Security Agreement (Offerpad Solutions Inc.)
Unused Facility Fee. For each calendar quarter during the Availability Period beginning on January 1Period, 2022, the Borrowers Borrower shall pay to the Lender Lenders (ratably, based on relative unused Committed Amounts) an Unused Facility Fee. Each Unused Facility Fee shall be payable in arrears within fifteen (15) 15 Business Days following the end of the applicable calendar quarter, and any unpaid portion thereof shall be immediately due and payable upon any acceleration of the Obligations hereunder or upon the Final Maturity Date.
Appears in 2 contracts
Samples: Loan and Security Agreement (Offerpad Solutions Inc.), Loan and Security Agreement (Offerpad Solutions Inc.)
Unused Facility Fee. For each calendar quarter during the Availability Period beginning on January 1, 2022, the Borrowers Borrower shall pay to the Lender Lenders (ratably, based on relative unused Committed Amounts) an Unused Facility Fee. Each Unused Facility Fee shall be payable in arrears within fifteen (15) Business Days following the end of the applicable calendar quarter, and any unpaid portion thereof shall be immediately due and payable upon any acceleration of the Obligations hereunder or upon the Final Maturity Date.
Appears in 1 contract
Samples: Loan and Security Agreement (Offerpad Solutions Inc.)
