Common use of Certain Supplemental Rent Clause in Contracts

Certain Supplemental Rent. In addition to other Supplemental Rent payable pursuant to the Operative Documents, the Company shall pay to the Lessor (for its own account and for the account of any other Person as specified below) the Supplemental Rent described in this Section 2.04 pursuant to the provisions hereof. (a) [Intentionally Omitted]. (b) The Company shall pay or cause to be paid to the Lessor Supplemental Rent in the amount of 0.05% of the Unrecovered Lessor Investments as of the Restatement Closing Date (the “Upfront Supplemental Rent”). The Upfront Supplemental Rent shall be payable in full on the Restatement Closing Date. Promptly upon receipt by the Lessor of such payment of the Upfront Supplemental Rent, it shall distribute to each Lease Participant its Percentage Share thereof. (c) On the Restatement Closing Date, the Company shall pay or cause to be paid to the Administrative Agent, for the account of Arranger, Supplemental Rent in the amount set forth in the Engagement and Fee Letter (the “Arranger’s Supplemental Rent”), which Arranger’s Supplemental Rent shall be deemed fully earned on the Restatement Closing Date and, once paid, shall be non-refundable. The Company shall pay to Administrative Agent, for its own account, an administrative fee in the amount of $25,000.00 per year (the “Administrative Supplemental Rent”), which Administrative Supplemental Rent shall be paid initially on the Restatement Closing Date and on each anniversary thereof until the Lease Termination Date. The Administrative Supplemental Rent shall be deemed fully earned on the Restatement Closing Date and on each anniversary thereof and, once paid, shall be non-refundable.

Appears in 3 contracts

Samples: Investment and Participation Agreement (Protective Life Insurance Co), Investment and Participation Agreement (Protective Life Insurance Co), Investment and Participation Agreement (Protective Life Corp)

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Certain Supplemental Rent. In addition to other Supplemental Rent payable pursuant to the Operative Documents, the Company shall pay to the Lessor (for its own account and for the account of any other Person as specified below) the Supplemental Rent described in this Section 2.04 pursuant to the provisions hereof. (a) [Intentionally Omitted]. (b) The Company shall pay or cause to be paid to the Lessor Supplemental Rent in the amount of 0.050.20% of the Unrecovered Lessor Investments Facility Cost as of the Restatement Closing Date (the “Upfront Supplemental Rent”). The Upfront Supplemental Rent shall be payable in full on the Restatement Closing Date. Promptly upon receipt by the Lessor of such payment of the Upfront Supplemental Rent, it shall distribute to each Lease Participant its Percentage Share thereof. (cb) On the Restatement Closing Date, the Company shall pay or cause to be paid to the Administrative Agent, for the account of Arranger, Supplemental Rent in the amount set forth in the Engagement and Fee Letter (the “Arranger’s Supplemental Rent”), which Arranger’s Supplemental Rent shall be deemed fully earned on the Restatement Closing Date and, once paid, shall be non-refundable. The Company shall pay to Administrative Agent, for its own account, an administrative fee in the amount of $25,000.00 per year (the “Administrative Supplemental Rent”), which Administrative Supplemental Rent shall be paid initially on the Restatement Closing Date and on each anniversary thereof until the Lease Termination Date. The Administrative Supplemental Rent shall be deemed fully earned on the Restatement Closing Date and on each anniversary thereof and, once paid, shall be non-refundable.

Appears in 2 contracts

Samples: Investment and Participation Agreement (Protective Life Insurance Co), Investment and Participation Agreement (Protective Life Corp)

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Certain Supplemental Rent. In addition to other Supplemental Rent payable pursuant to the Operative Documents, the Company shall pay to the Lessor (for its own account and for the account of any other Person as specified below) the Supplemental Rent described in this Section 2.04 pursuant to the provisions hereofhereof (and during the Construction Term, the Company shall be entitled to obtain Lessor Advances and Lease Participant Advances therefor by including such amounts in any Advance Notice). (a) [Intentionally Omitted]The Company shall pay or cause to be paid to the Lessor Supplemental Rent (the "Commitment Supplemental Rent") on the daily average amount of the sum of the unused portion of the Lessor Investment Commitment and Lease Participant Commitments, for the period from and including the Closing Date, up to and including the earlier of the date the unused Lessor Investment Commitment and Lease Participant Commitments are terminated by the Company, as Acquisition/Construction Agent for the Lessor, or the Completion Date, at a rate per annum equal to 0.20%. Commitment Supplemental Rent and Yield thereon at the rate specified in the last sentence of Section 3.03(a) shall accrue for each Yield Period during the Construction Term and be payable, together with Yield thereon, on the first funding date as of which the aggregate amount of capitalized project costs funded (including capitalized project costs funded on such date) equal or exceed $1,000,000. Promptly upon receipt by the Lessor of each payment of the Commitment Supplemental Rent, it shall distribute to each Lease Participant its Percentage Share thereof. (b) The Company shall pay or cause to be paid to the Lessor Supplemental Rent (the "Upfront Supplemental Rent") in the amount of 0.050.20% of the Unrecovered Lessor Investments as of the Restatement Closing Date (the “Upfront Supplemental Rent”)Commitment. The Upfront Supplemental Rent and Yield thereon at the rate specified in the last sentence of Section 3.03(a) shall accrue during the Construction Term and be payable in full full, together with Yield thereon, , on the Restatement Closing Datefirst funding date as of which the aggregate amount of capitalized project costs funded (including capitalized project costs funded on such date) equal or exceed $1,000,000. Promptly upon receipt by the Lessor of such payment of the Upfront Supplemental Rent, it shall distribute to each Lease Participant its Percentage Share thereof. (c) On the Restatement Closing Date, the The Company shall pay or cause to be paid to the Administrative Agent, for the account of Arranger, Supplemental Rent in connection with the amount set forth Lessor's role as arranger (the "Arranger's Supplemental Rent") and as the administrator (the "Administrative Supplemental Rent") of the transactions described in the Engagement Operative Documents, in each case as specified in the fee letter dated of even date herewith between the Lessor and Fee Letter (the Company. The Arranger’s 's Supplemental Rent”), which Arranger’s Rent and the Administrative Supplemental Rent shall accrue, together with Yield thereon at the rate specified in the last sentence of Section 3.03(a), during the Construction Term and be deemed fully earned payable, together with Yield thereon, , on the Restatement Closing Date and, once paid, shall be non-refundable. The Company shall pay to Administrative Agent, for its own account, an administrative fee in first funding date as of which the aggregate amount of capitalized project costs funded (including capitalized project costs funded on such date) equal or exceed $25,000.00 per year (1,000,000. Thereafter, the “Administrative Supplemental Rent”), which Administrative Supplemental Rent shall be paid initially on the Restatement Closing Date and on each anniversary thereof until the Lease Termination Dateannually in advance. The Lessor shall retain the Arranger's Supplemental Rent and the Administrative Supplemental Rent shall be deemed fully earned on the Restatement Closing Date and on each anniversary thereof and, once paid, shall be non-refundablefor its own account.

Appears in 1 contract

Samples: Investment and Participation Agreement (Protective Life Corp)

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