Commitment Fee. The Borrower shall pay to the Administrative Agent for the account of each Revolving Lender in accordance with its Applicable Revolving Percentage, a commitment fee in Dollars equal to the Applicable Rate times the actual daily amount by which the Revolving Facility exceeds the sum of # the Outstanding Amount of Revolving Loans and # the Outstanding Amount of L/C Obligations, subject to adjustment as provided in [Section 2.15]. For the avoidance of doubt, the Outstanding Amount of Swingline Loans shall not be counted towards or considered usage of the Revolving Facility for purposes of determining the commitment fee. The commitment fee shall accrue at all times during the Availability Period, including at any time during which one or more of the conditions in [Article IV] 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 on the last day of the Availability Period for the Revolving Facility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.
Title Commitment. Buyer acknowledges receipt of the Title Commitment (the “Current Title Commitment”) with an effective date of , issued on , by Texas State Title, LLC. Prior to expiration of the Pre-Closing Period, , Buyer, at its expense, may order an updated title commitment for the Property in the amount of the Purchase Price from Escrow Agent and obtain a copy of all documents which constitute exceptions to the title commitment. Buyer shall give Seller written notice within five (5) days following receipt of the updated title commitment of any condition of title (exceptions or requirements) that is not shown on the Current Title Commitment and that is not satisfactory to Buyer. Seller may, but shall not be obligated, to resolve such matters; provided, however, that mortgage liens may be resolved at closing. If Seller is unable or unwilling to resolve such matters before the expiration of the Pre-Closing Period as defined above, then Buyer may, at Buyer’s sole option, either # accept title subject to the objections raised by Buyer and such accepted objections (along with the matters not objected to) shall become permitted exceptions (“Permitted Exceptions”) without any adjustment in the Purchase Price, or # terminate this Agreement prior to the expiration of the Pre-Closing Period, whereupon the earnest monies (less the independent consideration) shall be immediately returned to Buyer by Escrow Agent, or # work with Seller, if mutually agreeable, to satisfy unacceptable matters and postpone the end of the Pre-Closing Period and/or Closing Date to satisfy these matters. At Closing, Seller shall provide Buyer with an owner’s policy of title insurance in the amount of the Purchase Price. Seller shall pay the cost for the basic cost of the owner’s policy of title insurance, and Buyer shall pay the cost for all endorsements, changes, and modifications to the owner’s policy of title insurance.
Commitment Fee. The Company and the Borrowing Subsidiaries hereby jointly and severally agree to pay to the Agent for the account of , 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 third Business Day following the last day of March, June, September and December of each year commencing on 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 , capped at .
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. and dated (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, 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 shall use their reasonable best efforts to ensure that the level of ' services under this Agreement shall not exceed 20% of the average level of services performed over the 36-month period immediately preceding the Effective Date, consistent with the intent that ' 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")).
the Commitment Fee shall cease to accrue on the unused portion of the Commitments of such Defaulting Lender pursuant to [Section 2.11(a)];
. In addition to the payments provided for in [Article 3] and subject to [Section 2.15(a)(iii)], Borrower shall pay to Administrative Agent, for the account of each Committed Lender, according to its Applicable Percentage, an unused commitment fee which shall accrue at a rate per annum equal to the product of: # the average daily difference during the immediately preceding calendar quarter between # such Committed Lender’s Commitment and # such Committed Lender’s Lender Group’s outstandingon the actual daily amount by which the Maximum Commitment exceeds the Principal Obligation during such calendar quarter (such difference,(i) if such amount is less than 50% of the “UnusedMaximum Commitment”), and # thethen at a rate equal to 0.40% per annum, # if such amount is less than 70% but equal to or greater than 50% of the Maximum Commitment, then at a rate equal to 0.55% per annum and # if such amount is greater than or equal to 70% of the Maximum Commitment, then at a rate equal to 0.75% per annum. The unused commitment fee shall be payable in arrears on the first Business Day of each calendar quarter for the preceding calendar quarter and on the Maturity Date for the period from the end of the preceding calendar quarter until the Maturity Date. Notwithstanding anything herein to the contrary, Swingline Loans will not be deemed to be utilization for purposes of calculating the unused commitment fees above. Borrower and Committed Lenders acknowledge and agree that the unused commitment fees payable hereunder are bona fide unused commitment fees and are intended as reasonable compensation to Committed Lenders for committing to make funds available to Borrower as described herein and for no other purposes and shall be due and payable whether or not the conditions precedent in [Section 7.02] are satisfied.
“Available Unused Commitment” means, with respect to a Lender at any time, an amount equal to the amount by which # the Commitment of such Lender at such time exceeds # the Revolving Credit Exposure of such Lender at such time.
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