Exit Fee Payment Sample Clauses

Exit Fee Payment. No later than 2:00 p.m. Mountain Prevailing Time on April 29, 2024, United Power shall pay Tri-State the amount calculated pursuant to the FERC-accepted and effective version of Rate Schedule No. 281 as of April 24, 2024 (“Exit Fee”).1 Such payment shall be made in immediately available funds to a nationally recognized escrow agent such as a state or federally chartered commercial bank with an office in the State of Colorado, with assets of at least $1 billion, selected by United Power that is acceptable to Tri-State (the “Escrow Agent”), such acceptance not to be unreasonably withheld, pursuant to an escrow agreement to be entered into by the Parties in a form mutually acceptable to Tri-State, United Power, and the Escrow Agent (“Escrow Agreement”) by no later than April 1, 2024. United Power shall provide to Tri-State the name of a nationally recognized escrow agent for approval by February 1, 2024. Tri-State will either approve in writing the escrow agent selected by United Power or provide the name of another escrow agent that is acceptable to Tri-State within 10 days after United Power provides the name of the escrow agent to Tri-State. United Power’s payment to Tri-State for the purchase of certain assets and facilities pursuant to any Purchase Agreements is not included in the Exit Fee and is covered by and addressed in the Purchase Agreements, if any is entered into. Except as provided under the FERC Order, no separate payment of money, nor reduction in the Exit Fee, will occur as part of the retirement by Tri-State, and forfeiture by United Power, of United Power’s patronage capital described in Section 2.1.3.
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Exit Fee Payment. No later than 2:00 p.m. Mountain Prevailing Time on April 29, 2024, United Power shall pay Tri-State the amount calculated pursuant to the FERC-accepted and effective version of Rate Schedule No. 281 as of April 24, 2024 (“Exit Fee”). The Exit Fee is also known as the Final Payment Amount (as the term is defined in Rate Schedule No. 281). The payment of the Exit Fee shall be made in immediately available funds to a nationally recognized escrow agent such as a state or federally chartered commercial bank with an office in the State of Colorado, with assets of at least $1 billion, selected by United Power that is acceptable to Tri-State (the “Escrow Agent”), such acceptance not to be unreasonably withheld, pursuant to an escrow agreement to be entered into by the Parties in a form mutually acceptable to Tri-State, United Power, and the Escrow Agent (“Escrow Agreement”) by no later than April 15, 2024. United Power shall provide to Tri-State the name of a nationally recognized escrow agent for approval by February 2, 2024. Tri-State will either approve in writing the escrow agent selected by United Power or provide the name of another escrow agent that is acceptable to Tri-State within 10 days after United Power provides the name of the escrow agent to Tri-State. United Power’s payment to Tri-State for the purchase of certain assets and facilities pursuant to the Purchase Agreement is not included in the Exit Fee and must be paid for separately as covered by and addressed in the Purchase Agreement. In the event the FERC-accepted and effective version of Rate Schedule No. 281 as of April 24, 2024 is the version Tri-State filed on September 1, 2021, Sections 1.4, 3.1.1 and 3.1.2 are not applicable and any true-up of the Exit Fee will be in accordance with Section 3.2.
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Exit Fee Payment. No later than 2:00 p.m. Mountain Prevailing Time on April 29, 2024, United Power shall pay into escrow the amount calculated pursuant to the FERC-accepted and effective version of Rate Schedule No. 281 as of April 24, 2024, which is $627,194,617.56 (“Exit Fee”). The Exit Fee will be trued-up after the Withdrawal Time as provided in Section 3.1.
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Related to Exit Fee Payment

  • Fee Payment If the Fund is a Winning Fund in an Auction, the Fund shall pay to ReFlow the Auction Program Fee, which shall equal the Fund’s Fee Bid multiplied by the aggregate dollar amount of Shares purchased in the Auction.

  • Monthly Management Fee Payment On the first business day of each month, each class of each Fund shall pay the management fee to the Investment Manager for the previous month. The fee for the previous month shall be the sum of the Daily Management Fee Calculations for each calendar day in the previous month.

  • Exit Fee Upon the earlier to occur of (i) the Term Loan Maturity Date, or (ii) full repayment of the Loan and all other Obligations whether as a result of the acceleration of the Loan, or otherwise, Borrower shall pay an exit fee to Agent, for the benefit of Lenders, in an amount equal to one percent (1.0%) multiplied by the aggregate principal amount of all Term Loans advanced hereunder.

  • Unused Fee The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage, an unused fee equal to the Unused Rate times the actual daily amount by which the Aggregate Commitments exceed the sum of (i) the Outstanding Amount of Loans and (ii) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.17. For the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be counted towards or considered usage of the Aggregate Commitments for purposes of determining the unused fee. The unused 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. The unused fee shall be calculated quarterly in arrears, and if there is any change in the Unused Rate during any quarter, the actual daily amount shall be computed and multiplied by the Unused Rate separately for each period during such quarter that such Unused Rate was in effect.

  • Commitment Fee The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Credit Lender under each Facility in accordance with its Pro Rata Share or other applicable share provided for under this Agreement, a commitment fee in Dollars equal to the Applicable Rate with respect to Revolving Credit Loan commitment fees, times the actual daily amount by which the aggregate Revolving Credit Commitment for the applicable Facility exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans for such Facility and (B) the Outstanding Amount of L/C Obligations for such Facility; provided that any commitment fee accrued with respect to any of the 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 Borrower so long as such Lender shall be a Defaulting Lender, except to the extent that such commitment fee shall otherwise have been due and payable by the Borrower prior to such time; and 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 on each Revolving Credit Facility shall accrue at all times from the Closing Date until the Maturity Date for the Revolving Credit Commitments, 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 during the first full fiscal quarter to occur after the Closing Date and on the Maturity Date for the Revolving Credit Commitments. 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.