termination fee


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Termination Fee

A one-time fee charged to an account holder if he/she transfers or cancels an IRA. The termination fee is levied by the brokerage or bank that manages the IRA and must be spelled out in the agreement that created the account. Some brokerages and banks do not charge a termination fee. See also: Prepayment penalty.

termination fee

The one-time charge for terminating or transferring an individual retirement account. If a financial institution charges a termination fee, the fee must be spelled out in the original agreement that is signed when the account is opened. Some institutions, particularly banks and savings and loans, may not charge termination fees.
References in periodicals archive ?
Parent and merger sub agreed to, on or prior to October 31, 2017, provide cash escrow or letter of credit in equivalent amount for the benefit of the company as the collateral and security for the payment of the parent termination fee (if and when it is payable) pursuant to the merger agreement.
Under the AT&T Merger Agreement, Straight Path is required to pay a USD 38m termination fee to AT&T if the Straight Path board terminates the AT&T Merger Agreement in order to enter into an agreement with the Bidder.
Anthem executives talked about the termination fee in a conference call with securities analysts when they announced the Cigna deal.
Upon Mitels receipt of the requisite termination fee payable under the companys merger agreement with Mitel, which the company intends to deliver today, the company will enter into a new merger agreement with Triangle Private Holdings I, LLC and Triangle Private Merger Sub, Inc.
The termination agreement provided that upon the consummation of an underwritten (firm commitment) public offering resulting in the fisting or quotation of the Taxpayer's stock on one or more nationally recognized stock exchange or quotation systems, the Taxpayer would pay a termination fee to the Manager in consideration for all amounts owing under the management services agreement.
HC2 said it will reimburse MCG in cash for the USD 7m termination fee payable to PennantPark, and issue USD 13.
A termination fee, a penalty paid by the target to the acquirer in the event of an M&A agreement being terminated, has become increasingly used by firms undertaking M&As (Jeon and Ligon, 2011).
This figure for the SMS termination fee is half of what Vodafone claims it is owed by TTL as the net flow of SMS since it filed the petition.
CYGAM has agreed to pay $50,000 of the Termination Fee to Canoel within 5 days of the approval of the Termination and Release Agreement by the board of directors of both of CYGAM and Canoel, and the balance of the Termination Fee, $571,278, no later than March 31, 2012.
Early termination fee is being used as a tool to stop consumers from switching to other operators which is an unfair practice.
lt;p>Google's decision to charge an early termination fee for the Nexus One has been controversial because both Google and T-Mobile currently charge users separate early termination fees if they drop their Nexus One in less than four months.
As The Real Deal reported in its April issue, Corcoran Sunshine filed a lawsuit in state Supreme Court alleging that the developer of Five Franklin Place in Tribeca owes the firm a $500,000 termination fee.