Borrower Payment Clause Samples

Borrower Payment. Lender shall send to the FTA the FTA share of all Borrower payments received after settlement of the loan sale. LENDER WILL NOT SEND ANY PAYMENTS DIRECTLY TO THE REGISTERED HOLDER OR TO THE BROKER/DEALER. ▇▇▇▇▇▇ will retain a copy of this Form. ▇▇▇▇▇▇ will not receive a return copy of this Form after settlement. The Wire transfer receipt from the settlement through the FTA will be the Lender’s notification that the sale is complete.
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Borrower Payment. (a) On the date of the Initial Credit Extension, the Borrower shall pay to the Administrative Agent, for the ratable account of the Lenders in accordance with their respective Pro Rata Shares, a non-refundable payment equal to 1.00% of the Total Term Loan Commitments of all Lenders (the “Borrower Payment”), which shall be deemed earned in full at the time of payment. The parties hereto agree to treat the Borrower Payment for U.S. federal income tax purposes as an increase to the yield of the Term Loans, taxable as original interest discount (i.e., interest) over the remaining term of the Term Loans in accordance with the applicable rules under the Internal Revenue Code and the Treasury Regulations thereunder. As such, the parties agree that no U.S. federal, state or local withholding tax should be withheld or deducted on account of the Borrower Payment to the extent that the applicable Lender has provided the documentation required under Section 2.13(e), 2.13(f) or 2.13(g), as applicable, demonstrating that no such withholding or deduction is required. (b) In addition to the foregoing Borrower Payment, the Borrower agrees to pay to Agents such other fees in the amounts and at the times set forth in the Agent Fee Letter.
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Related to Borrower Payment

  • Loan Payment Payments of principal, interest, and Late Charges (as defined in the Note) shall be made as provided in the Note.

  • Payment of Outstanding Indebtedness, etc The Administrative Agent shall have received evidence that immediately after the making of the Loans on the Closing Date, all Indebtedness under the Existing Credit Agreement and any other Indebtedness not permitted by Section 7.04, together with all interest, all payment premiums and all other amounts due and payable with respect thereto, shall be paid in full from the proceeds of the initial Credit Event, and the commitments in respect of such Indebtedness shall be permanently terminated, and all Liens securing payment of any such Indebtedness shall be released and the Administrative Agent shall have received all payoff and release letters, Uniform Commercial Code Form UCC-3 termination statements or other instruments or agreements as may be suitable or appropriate in connection with the release of any such Liens.

  • Prepayments of Indebtedness, etc None of the Credit Parties will (a) if any Default or Event of Default has occurred and is continuing or would be directly or indirectly caused as a result thereof, (i) after the issuance thereof, amend or modify (or permit the amendment or modification of) any of the terms of any Indebtedness if such amendment or modification would add or change any terms in a manner adverse to the Banks, including, but not limited to, shortening the final maturity or average life to maturity or requiring any payment to be made sooner than originally scheduled or increasing the interest rate applicable thereto or changing any subordination provision thereof, or (ii) except as set forth in Section 6.15, make (or give any notice with respect thereto) any voluntary or optional payment or any prepayment or any redemption or any acquisition for value of (including without limitation, by way of depositing money or securities with the trustee with respect thereto before due for the purpose of paying when due), refund, refinance or exchange of any other Indebtedness; (b) after the issuance thereof, amend or modify, or permit the amendment or modification of (i) any of the subordination provisions of any Subordinated Debt; or (ii) any other material terms of any Subordinated Debt, except (A) for a waiver by the holder of such Subordinated Debt with respect to compliance with the terms thereof, and (B) after fifteen (15) days prior written notice to the Agent and each of the Banks, of any such amendment or modification which is not adverse to either the issuer thereof or to the interests of the Banks in their capacity as the holders of any of the Total Revolving Obligations, or (c) make any payment, prepayment, redemption, acquisition for value of (including without limitation, by way of depositing money or securities with the trustee with respect thereto before due for the purpose of paying when due), refund, refinance or exchange of any Subordinated Debt (including, without limitation, interest thereon); provided, however, the foregoing shall not prohibit the following, (i) any payment, prepayment, redemption, acquisition made from and to the extent of the Net Proceeds of any Equity Transaction as permitted by Section 7.7(iv), (ii) in the case of Subordinated Debt owing to a member of the Management Group, to the extent permitted in Section 7.7(iii), and (iii) upon issuance of the Exchange Debentures, payments-in-kind of interest on the Exchange Debentures, but only to the extent such payments are not prohibited by Section 10.3 of the Exchange Debenture Indenture.

  • Restricted Payments; Certain Payments of Indebtedness (a) No Loan Party will, nor will it permit any Subsidiary to, declare or make, or agree to declare or make, directly or indirectly, any Restricted Payment, or enter into any transaction that has a substantially similar effect or incur any obligation (contingent or otherwise) to do so, except (i) the Borrowers may declare and pay dividends with respect to its common stock payable solely in additional shares of its common stock, and, with respect to its preferred stock, payable solely in additional shares of such preferred stock or in shares of its common stock, (ii) so long as there exists no Event of Default, the Borrowers may, to the extent required by law, repurchase fractional shares of Borrowers’ Equity Interests up to an aggregate repurchase total for all fractional shares repurchased of $500,000, (iii) the Borrowers may issue its common stock pursuant to the Borrowers’ stock option plan existing on the Effective Date, (iv) so long as there exists no Event of Default, during the period beginning on the Effective Date and continuing to and including the Maturity Date, the Borrowers may purchase shares of Borrowers’ Equity Interests up to an aggregate purchase total for all shares repurchased of $3,000,000; and (v) the Borrowers may declare and pay dividends so long as there exists no Event of Default. (b) No Loan Party will, nor will it permit any Subsidiary to, make or agree to pay or make, directly or indirectly, any payment or other distribution (whether in cash, securities or other property) of or in respect of principal of or interest on any Indebtedness, or any payment or other distribution (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any Indebtedness, except: (i) payment of Indebtedness created under the Loan Documents; (ii) payment of regularly scheduled interest and principal payments as and when due in respect of any Indebtedness permitted under Section 6.01, other than payments in respect of the Subordinated Indebtedness prohibited by the subordination provisions thereof; (iii) refinancings of Indebtedness to the extent permitted by Section 6.01; and (iv) payment of secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness.

  • Payments of Indebtedness Such Obligor will not, and will not permit any of its Subsidiaries to, make any payments in respect of any Indebtedness other than (i) payments of the Obligations, (ii) scheduled payments of other Indebtedness and (iii) repayment of intercompany Indebtedness permitted in reliance upon Section 9.01(f).