Initial Commitment Fee Sample Clauses

Initial Commitment Fee. In consideration for the Investor’s execution and delivery of this Agreement, at any time after June 30, 2025 selected by the Company but in no case after August 8, 2025 (such date, the “Initial Commitment Fee Trigger Date”), the Company shall either (A) pay to the Investor, by wire transfer of immediately available funds to an account designated by the Investor, an amount in cash equal to $500,000, (B) cause to be issued to the Investor a number of shares of Common Stock that collectively have a total value equal to $500,000 (such number of shares calculated as set forth below), or (C) pay to the Investor (by wire transfer of immediately available funds to an account designated by the Investor) and cause to be issued to the Investor a combination of an amount in cash and a number of shares of Common Stock (such number of shares calculated as set forth below) that collectively have a combined total value equal to $500,000 (the “Initial Commitment Fee” and any cash amount that is paid by the Company to the Investor as part of the Initial Commitment Fee pursuant hereto, the “Initial Cash Commitment Fee” and any shares of Common Stock issued by the Company to the Investor as part of the Initial Commitment Fee pursuant hereto, the “Initial Commitment Shares”). If any Initial Commitment Shares are to be issued hereunder, such Initial Commitment Shares (I) shall have a per share value equal to the lower of (a) $0.311 and (b) such dollar amount equal to ninety-seven percent (97%) of the lower of (1) the lowest Sale Price on the Initial Commitment Fee Trigger Date and (2) the arithmetic average of the three (3) lowest Closing Sale Prices for the Common Stock during the ten (10) consecutive Business Days ending on the Business Day immediately preceding Initial Commitment Fee Trigger Date (in each case, to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction that occurs on or after the date of this Agreement), (II) shall be included in a Registration Statement to be filed by the Company with and declared effective by the SEC pursuant to this Agreement and the Registration Rights Agreement on or prior to the Initial Commitment Fee Trigger Date registering under the Securities Act the resale by the Investor of such Initial Commitment Shares that may be issued to the Investor hereunder (it being hereby acknowledged and agreed that (x) no shares of Common Stock may be issued to the Investor as In...

Initial Commitment Fee. The Borrower shall pay to the Administrative Agent for the account of each Initial Revolving Credit Lender in accordance with its Pro Rata Share, a commitment fee (the “Initial Commitment Fee”) equal to the Applicable Rate with respect to Initial Commitment Fees times the actual daily amount by which the aggregate Initial Revolving Credit Commitment exceeds the sum of (A) the Outstanding Amount of Initial Revolving Credit Loans and (B) the Outstanding Amount of L/C Obligations; provided that any Initial Commitment Fee accrued with respect to any of the Initial 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 Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such Initial Commitment Fee shall otherwise have been due and payable by the Borrower prior to such time; and provided further that no Initial Commitment Fee shall accrue on any of the Initial Revolving Credit Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The Initial Commitment Fees shall accrue at all times from the Closing Date until the Maturity Date for the Initial Revolving Credit Facility, 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 Maturity Date for the Initial Revolving Credit Facility. The Initial 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.

Initial Commitment Fee. 1.1 Subject to paragraphs 1.2, 1.3 and 1.4 below, as consideration for the commitments and agreements of the CS Lenders under the Bridge Facility Agreement, you agree to pay (or cause to be paid) to the CS Lender, a commitment fee computed at a percentage rate per annum (calculated on the basis of the actual number of days elapsed over a 365-day year) of 1.50 per cent. on the undrawn and uncancelled amount of that CS Lender’s Commitment (the “Initial Commitment Fee”). 1.2 The Initial Commitment Fee shall accrue from the date of the Bridge Facility Agreement to the earlier of the Initial Closing Date and 31 December 2020, and, if payable, shall be payable in sterling on the Initial Closing Date. 1.3 The Initial Commitment Fee may be deducted out of the proceeds of the initial Utilisation. 1.4 No Initial Commitment Fee shall be payable if the Initial Closing Date does not occur.

Initial Commitment Fee. On the Restatement Effective Date, the Borrower shall pay to the Administrative Agent, for the ratable account of each Lender, the following increments of the Commitment Fee: (A) $800,000 in cash; and (B) subject to Section 2.9, $4,500,000 in common stock of the Borrower. The number of shares of the Borrower’s common stock to be issued to each Lender will be determined by dividing (I) such Lender’s ratable share of $4,500,000 by (II) the greater of (1) 95% of VWAP determined as of the Restatement Effective Date and (2) 95% of the closing price of the Borrower’s common stock on the Restatement Effective Date (any such payment in accordance with this clause (B), the “Initial Commitment Fee Stock Payment”). Notwithstanding clause (B) above, if the Initial Commitment Fee Stock Payment will result in a Lender (together with such Lender’s Affiliates, and any other Persons acting as a group together with such Lender or any of such Lender’s Affiliates), beneficially owning in excess of the Beneficial Ownership Limitation, the portion of the Initial Commitment Fee Stock Payment due to such Lender that is in excess of the Beneficial Ownership Limitation (such amount, the “Excess Initial Commitment Fee Payment”) shall be paid to such Lender in cash; provided, however, that to the extent the Excess Initial Commitment Fee Payment payable to such Lender exceeds $250,000, the amount of the Excess Initial Commitment Fee Payment remaining after the payment to such Lender of $250,000 in cash (such remaining amount, the “Remaining Excess Initial Commitment Fee Payment”) shall be paid as follows:

Initial Commitment Fee. The Company shall have issued to the Investor the Commitment Shares, or shall have paid the Initial Commitment Fee in cash (or any combination thereof), and shall have paid the initial structuring fee and legal fee, each in accordance with Section 11.04.

Initial Commitment Fee. A “Commitment Fee” equal to $590,625, due and payable on the date hereof. Each Bank shall be entitled to its Pro Rata Interest in such Commitment Fee.

Initial Commitment Fee. Evidence that the Company ----------------------- shall have paid to the Bank the commitment fee set forth in that certain Commitment Letter dated July 17, 1997 relating to this

Initial Commitment Fee. In consideration of the Commitment, and for no additional consideration, on the Effective Date (or as soon thereafter as is practicable) Seller shall sell and issue to Purchaser, and Purchaser shall purchase from Seller, (a) one million (1,000,000) shares of Senior Preferred Stock, with an initial liquidation preference equal to $1,000 per share - 5 - ▇▇▇▇▇://▇▇▇.▇▇▇.▇▇▇/Archives/▇▇▇▇▇/data/310522/000095013308003096/w67133exv4w1.htm 6/15 ($1,000,000,000 (one billion dollars) liquidation preference in the aggregate), and (b) the Warrant.

Initial Commitment Fee. On the Closing Date Borrower agrees to pay to the Agent for distribution to the Lenders, including the Agent, an initial commitment fee in the amount set forth in the Agent’s Letter. The foregoing fee shall be fully earned and, at the option of the Agent, shall be paid by an Advance pursuant to Section 2.1, without prior demand by the Agent.