An amendment fee is a charge imposed for making changes or modifications to an existing contract. This fee compensates the party responsible for administrative and legal processes required to alter the terms of the agreement.
(g) Amendment Fee. The Amendment Fee shall bear interest on the outstanding amount thereof from the Fourth Amendment Effective Date until paid in full at the Amendment Fee PIK Interest Rate. Interest charged on the Amendment Fee shall be added to increase the balance of such Amendment Fee on each Interest Payment Date. Borrower shall pay the Amendment Fee, together with interest accrued thereon at the Amendment Fee PIK Interest Rate and added to the principal balance of the Amendment Fee on each Interest Payment Date, at the earliest of (i) the date the Term Loan is prepaid, provided however, if the prepayment is for less than the full amount of the Term Loan, the Amendment Fee and accrued and unpaid interest shall be prorated based on the principal amount of the Term Loan that is prepaid, (ii) the Term Loan Maturity Date, and (iii) the date the Term Loan becomes due and payable, which fee shall be deemed fully earned on the Fourth Amendment Effective Date notwithstanding its receipt at a different time.
Amendment Fee. Upon entering into this First Amendment, the Parties agree that an amendment fee of $1,500,000.00 (the “Amendment Fee”) is due to Rigel. The Amendment Fee can be paid to Rigel anytime, but no later than in accordance with the following schedule: (i) $500,000.00 on January 15, 2020; (ii) $500,000.00 on April 15, 2020; and (iii) $500,000.00 on July 15, 2020 (“Payment Plan”). For the avoidance of doubt, the Amendment Fee for this First Amendment is due whether or not the Agreement has been terminated.
(c)the Amendment Fee shall be payable together with any applicable goods and services tax payable thereon.
the Amendment Fee is non-refundable and shall be payable by you to us by 12:00 p.m. (Singapore time) on 19 June 2020 for the account of each Consenting Lender, in consideration of the Consenting Lenders agreeing to the amendments in paragraph 3 above;
s consideration for Sixth Amendment, you agree to pay or cause to be paid to the Administrative Agent the following amendment fee earned in an amount equal to $100,000 (subject to forgiveness as set forth below) (the “Amendment Fee”), which Amendment Fee shall be nonrefundable once paid and shall be due and payable as follows:
Amendment Fee. In consideration of the agreements set forth herein, Borrowers shall pay to Lender an amendment fee in the amount of $7,500 (the “Amendment Fee”), which fee is non-refundable when paid and is fully-earned as of the date of this Amendment. The Amendment Fee shall be paid in full on the date of this Amendment.
4. Amendment Fee. (a) In consideration of the Administrative Agent’s agreement to enter into this Amendment, and in addition to the payments of principal and interest required under the Credit Agreement and the other Loan Documents, the Loan Parties covenant and agree to pay to Administrative Agent a one-time non-refundable fee equal to 0.2% of the aggregate current outstanding principal balance of the Term Loan A and the Term Loan C (the “Amendment Fee”), which Amendment Fee shall be deemed fully earned on the date of this Amendment. The Amendment Fee shall be additional interest that has accrued on, and shall be capitalized and proportionally added to the aggregate principal amount of, each of the Term Loan A and the Term Loan C outstanding as of the date hereof.
he Issuer agrees that the Amendment Fee shall be paid in Dollars, fully earned upon the Effective Date, nonrefundable and in addition to, and not creditable against, any other fee, cost or expense payable under any of the Note Documents.
In consideration for the amendments described herein, the Company hereby agrees to pay to the Holder a fee of $21,931.90 (the “Amendment Fee”) within one (1) business day of the date hereof. For the avoidance of doubt, the Amendment Fee is in addition to the payments due under the Note as set forth above.
An Amendment Fee is a charge imposed for any modifications or changes requested after a contract has been signed and agreed upon by the parties involved. This includes changes to the terms, conditions, scope, or any other agreed parameters of the contract. The purpose of this fee is to cover the administrative and operational costs that arise from making these changes.
An Amendment Fee should be used when:
The fee ensures that any additional work required to make the amendments is compensated for, thereby maintaining the contract’s integrity.
When writing about an Amendment Fee in a contract or a formal document, consider the following elements:
“Any changes or modifications to this Agreement after the Effective Date will be subject to an Amendment Fee of [$X] per amendment. The fee covers administrative and operational costs associated with processing the amendments. Requests for amendments must be submitted in writing and agreed upon by both parties.”
Amendment Fees are typically found in contracts that have complex terms and conditions where changes could lead to significant administrative or operational work. Examples include:
By including an Amendment Fee clause, these contracts ensure that any necessary modifications are managed efficiently and fairly.
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Dive deeper into the world of clauses and learn more about these other clauses that are used in real contracts.
The "Amendment of Bylaws" clause outlines the procedures and requirements for making changes to the bylaws of an organization or entity. It typically specifies who has the authority to propose and approve amendments, as well as any voting thresholds or notice periods that must be met to implement such changes.
An amendment to an operating agreement is a modification or addition made to the terms and provisions of an existing operating agreement, typically used by LLCs. This clause outlines the process and requirements for making such changes, ensuring that all parties have a clear understanding of how amendments can be proposed, approved, and documented.
An amendment to a promissory note refers to a formal modification or alteration to the original terms of the promissory note, often addressing changes in payment schedules, interest rates, or other relevant conditions. This amendment requires the mutual agreement of all parties involved and is documented to ensure clarity and enforceability.
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