Example ContractsClausesCommitment Fees
Commitment Fees
Commitment Fees contract clause examples

Commitment Fees. The Borrowers shall pay to the Administrative Agent # for the account of each Revolving Credit Lender in accordance with its Pro Rata Share, # a commitment fee equal to the Applicable Rate times the average daily unused amount of the Revolving Credit Commitments of such Revolving Credit Lender during the preceding quarter (or other period commencing with and including the Closing Date or ending with but excluding the applicable Revolving Credit Maturity Date or the date on which the Commitments of such Revolving Credit Lender shall expire or be terminated) (the “Commitment Fee”); provided, however, that any Commitment Fee accrued with respect to any of the Revolving Credit Commitments of a Defaulting Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrowers so long as such Lender shall be a Defaulting Lender except to the extent that the Commitment Fee shall otherwise have been due and payable by the Borrowers prior to such time; provided, further, that no Commitment Fee shall accrue on any of the Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The Commitment Fee shall accrue at all times during the Initial Availability Period (and thereafter so long as any Revolving Credit Loans or L/C Obligations remain outstanding), including at any time during which one or more of the conditions in Article V is not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and to but excluding the last day of the Initial Availability Period (and, if applicable, thereafter on demand). The Commitment Fee shall be calculated quarterly in arrears. For the avoidance of doubt, for purposes of computing the Commitment Fee, Revolving Credit Commitments shall be deemed to be used to the extent of the Outstanding Amount of the Revolving Credit Loans and the Outstanding Amount of all L/C Obligations.

Commitment Fees. Borrower agrees to pay to Administrative Agent for the account of each Lender in accordance, subject to Section 12.22, with its relevant Applicable

Commitment Fees Payable. The Borrower shall, subject to [Section 11.5(b)(ii)(y)], pay to the Class A-R Lenders pursuant to [Section 6.4 or 9.1]1], as applicable, ratably in proportion to their respective Percentage Shares of the Undrawn Commitment (provided that if the Class A-R Commitment of any Class A-R Lender is reduced as the result of a Bail-In Action, such Lender’s Percentage Share of the Undrawn Commitment shall be calculated based on its Class A-R Commitment as so reduced), a commitment fee (a “Commitment Fee”) accruing for each day during each Interest Period equal to the product of the Commitment Fee Rate and the undrawn amount of the Total Class A-R Commitment as of the end of such day.

Commitment. The Sponsor hereby commits to purchase equity securities of Holdco at or prior to the Effective Time for an aggregate amount of RMB equivalent to US$20,000,000 (and the RMB equivalents of U.S. dollars shall be determined using the prevailing exchange rate notified by Parent to the Sponsor at least three (3) Business Days prior to funding), on the terms and subject to the conditions specified herein, which commitment, together with the commitments by the Other Sponsors under the Other Commitment Letters, is to be used by Holdco and/or Parent solely for the purpose of # funding a portion of the Merger Consideration required to be paid by Parent to consummate the Transactions pursuant to and in accordance with the Merger Agreement and # payment of a portion of the fees and expenses in connection with the Transaction (such commitment, the “Commitment”). The Sponsor will not have any obligation under any circumstances to contribute, directly or indirectly, any capital or money that would be more than the amount of the Commitment to Holdco, Parent, Merger Sub or any other person pursuant to the terms of this Agreement. In the event that Holdco and/or Parent does not require an amount equal to the sum of the Commitment plus the amount of the equity commitments of the Other Sponsors under the Other Commitment Letters in order to consummate the Merger, the amount of the Commitment to be funded under this Agreement and the amount of the equity commitment of each Other Sponsor to be funded under its respective Other Commitment Letter shall be reduced by Holdco on a pro rata basis, to the amount that would be sufficient, in combination with the other financing

Commitment Fee. The Company and the [[Borrowing Subsidiaries:Organization]] hereby jointly and severally agree to pay to the Agent for the account of the , ratably in proportion to their Commitments, a commitment fee (the “Commitment Fee”) at a rate per annum equal to the Applicable Commitment Fee Rate on the daily average unused amount of the Commitments, which fee shall be payable in arrears on the fifteenth day following the last day of March, June, September and December of each year commencing on December 31, 2022 and with a final payment due and payable on the Termination Date. For the purposes of determining the amount of the Commitment Fee, outstanding Competitive Bid Loans shall be deemed not to be a usage of the Commitments.

Commitment Schedule. Subject to the terms and conditions set forth herein, each Term A-1 Lender and each Term A-2 Lender hereby agrees that its Term A-1 Commitment and Term A-2 Commitments are in the amounts set forth opposite such Term A-1 Lender’s and each Term A-2 Lender’s name on [Schedule 2].01A attached hereto.

Commitment Fee. In connection with the Commencement, shall pay to , as consideration for entering into this Agreement a commitment fee in the form of 428,571 restricted shares of Common Stock (the “Commitment Fee”) with no registration rights, which shall be delivered upon the written request of . shall register the offer and sale of the Purchase Shares by on a Form S-1 covering the Commitment Amount with the SEC within 45 days of the date of this Agreement. If has not filed the Form S-1 by such date, then for each 15-day period thereafter, the Commitment Fee will increase by $5,000, capped at $25,000.

Title Commitment. On the Effective Date, Seller shall order (and deliver to Purchaser upon receipt of same) # a written commitment from the Title Company to issue its ALTA Title Insurance Policy relating to the Real Property in an amount equal to the Purchase Price (the “Title Commitment”) and # an update to the Boundary Survey prepared by George F. Young, Inc., identified as Job No. [[Unknown Identifier]] and dated August 30, 2017 (the “Survey”). The Title Commitment delivered hereunder shall be conclusive evidence of good and marketable title as therein shown, subject only to those exceptions as therein stated.

Time Commitment. During the Term, [[Mr. Kanas:Person]] shall # dedicate that amount of his business time and attention that he deems reasonably necessary to the performance of the services hereunder (not to exceed 30 hours per month), # perform the services at such locations as he reasonably deems appropriate, # use his reasonable best efforts to promote the best interests of the Company, and # perform the services professionally and consistent with the applicable performance standards of the Company. Notwithstanding the foregoing, the Company and [[Mr. Kanas:Person]] shall use their reasonable best efforts to ensure that the level of [[Mr. Kanas:Person]]' services under this Agreement shall not exceed 20% of the average level of services [[Mr. Kanas:Person]] performed over the 36-month period immediately preceding the Effective Date, consistent with the intent that [[Mr. Kanas:Person]]' termination of employment with the Company constitutes a "separation from service" (within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the "Code")).

Revolver Commitment. Bank agrees, upon the terms and subject to the conditions hereinafter set forth, to make revolving loan advances (the "Revolver Loan") to Borrowers from the Closing Date until the Revolver Final Maturity Date, or until such later date as Bank shall have extended its Revolver Commitment in writing unless the Revolver Commitment shall be sooner terminated pursuant to the provisions of this Agreement, in such amounts as may from time to time be requested by Borrowers for payment of their existing secured indebtedness, development of oil and gas reserves, working capital needs, capital expenditures of Borrowers and for the issuance of standby letters of credit. In no event shall the aggregate unpaid principal amount of the Revolver Loan advanced, outstanding and unpaid at any time under the Revolver Note plus the amount of the requested Revolver Loan advance plus the amount of Letter of Credit Exposure at any time exceed the lesser of # the Collateral Borrowing Base (as calculated in accordance with the provisions of Article V of this Agreement) or # the Revolver Commitment Amount, notwithstanding the face principal amount of the Revolver Note from time to time.

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.