Put Option Premium. Borrower shall pay to each Initial Lender a put option premium (the “Put Option Premium”) in an amount equal to 6.00% of the aggregate principal amount of such Initial Lenders’ Commitment in original issue discount (such original issue discount to be credited to the account of such Initial Lender in accordance with Section 2.1(c)). Such Put Option Premium will be in all respects fully earned, due and on the Funding Date of the Initial Term Loans and non-refundable thereafter. For the avoidance of doubt, any assignment of the Term Loans pursuant to the Primary Syndication shall not be accompanied by the Put Option Premium.
Appears in 2 contracts
Sources: Debtor in Possession Credit Agreement (Erickson Inc.), Senior Secured Second Lien Debtor in Possession Credit Agreement