Common use of Exit Fee Clause in Contracts

Exit Fee. Borrower agrees that in all events and under all circumstances, Borrower shall be obligated to pay to Xxxxx Fargo Bank, N.A. an exit fee of an amount equal to one quarter of one percent (0.25%) of the outstanding principal balance of the Loan or (b) in connection with a partial prepayment of the Loan, the principal amount of the Loan being prepaid (the “Exit Fee”), which shall be payable upon (i) any partial prepayment of the Loan by Borrower and (ii) the earlier of (x) the payment by Borrower of the Loan in full, or (y) the Maturity Date (or any acceleration of the Loan following an Event of Default). In furtherance of the foregoing, Borrower acknowledges and agrees that Lender shall have no obligation to accept any payment of the Loan unless and until Borrower shall have also paid the Exit Fee, and Lender shall have no obligation to release any Loan Document upon payment of the Debt unless and until Lender shall have received the entire Exit Fee. Notwithstanding the foregoing or anything herein to the contrary, the Exit Fee shall not be payable with respect to any Principal Payment included in a Monthly Payment Amount. Notwithstanding the foregoing, payment of the Exit Fee shall be waived in the event Borrower refinances the Loan with a new permanent loan from Xxxxx Fargo Bank, N.A. (which may be provided by Xxxxx Fargo Bank, N.A., in its sole discretion).

Exit Fee. Borrower agrees that in (i) In all events and under all circumstancescircumstances (except as otherwise expressly set forth in this Section 2.7(d)), Borrower shall be obligated to pay to Xxxxx Fargo Bank, N.A. Lender an exit fee of an amount equal to one quarter of one percent (0.25%) of the outstanding principal balance of the Loan or (b) in connection with a partial prepayment of the Loan, the principal amount of the Loan being prepaid (the “Exit Fee”)) in an amount equal to 0.50% of the original principal amount of the Loan, which amount shall be payable as follows: (A) upon any (iand each) any partial prepayment of the Loan by in accordance with the terms hereof, in addition to all other amounts payable to Lender hereunder, Borrower shall pay to Lender, on account of the Exit Fee, an amount equal to 0.50% of the amount so prepaid and (iiB) upon repayment in full of the earlier Debt or the acceleration thereof in accordance with the terms of (x) the payment by Borrower any of the Loan in fullDocuments, or Borrower shall pay to Lender the entire Exit Fee which would be due on such date, less any amounts on account thereof previously paid to Lender under the foregoing clause (yA) the Maturity Date (or any acceleration of the Loan following an Event of Default)this subsection. In furtherance of the foregoing, Borrower expressly acknowledges and agrees that (y) Lender shall have no obligation to accept any payment prepayment of the Loan unless and until Borrower shall have also paid the Exit Fee, complied with this Section 2.7(d) and (z) Lender shall have no obligation to release any Loan Document upon payment of the Debt unless and until Lender shall have received the entire Exit Fee. . (ii) Borrower expressly acknowledges and agrees that the Exit Fee (A) shall constitute additional consideration for the Loan, (B) shall be in addition to and not offset by any other amounts due and payable hereunder (including, without limitation and to the extent applicable, the Prepayment Premium) and (iii) shall, upon payment, be the sole and exclusive property of Lender. (iii) Notwithstanding the foregoing or anything herein to the contrarycontrary contained herein or in any other Loan Documents, the Exit Fee shall not be payable with respect to any Principal Payment included in a Monthly Payment Amount. Notwithstanding the foregoing, payment of the no Exit Fee shall be waived payable in the event Borrower refinances connection with a repayment of the Loan with by virtue of a new permanent loan from Xxxxx Fargo Bank, N.A. (which may be refinancing of the Property provided that such refinancing is provided by Xxxxx Fargo Bank, N.A., in its sole discretion)Citibank.

Exit Fee. Borrower agrees that in all events and under all circumstances, Borrower shall be obligated to pay to Xxxxx Wxxxx Fargo Bank, N.A. an exit fee of an amount equal to one quarter of one percent (0.25%) of the outstanding principal balance of the Loan or (b) in connection with a partial prepayment of the Loan, the principal amount of the Loan being prepaid (the “Exit Fee”), which shall be payable upon (i) any partial prepayment of the Loan by Borrower and (ii) the earlier of (x) the payment by Borrower of the Loan in full, or (y) the Maturity Date (or any acceleration of the Loan following an Event of Default). In Default).In furtherance of the foregoing, Borrower acknowledges and agrees that Lender shall have no obligation to accept any payment of the Loan unless and until Borrower shall have also paid the Exit Fee, and Lender shall have no obligation to release any Loan Document upon payment of the Debt unless and until Lender shall have received the entire Exit Fee. Notwithstanding the foregoing or anything herein to the contrary, the Exit Fee shall not be payable with respect to any Principal Payment included in a Monthly Payment Amount. Notwithstanding the foregoing, payment of the Exit Fee shall be waived in the event Borrower refinances the Loan with a new permanent loan from Xxxxx Wxxxx Fargo Bank, N.A. (which may be provided by Xxxxx Wxxxx Fargo Bank, N.A., in its sole discretion).

Exit Fee. Borrower agrees that in all events and under all circumstances, Borrower shall be obligated to pay to Xxxxx Fargo Bank, N.A. an exit fee of an amount equal to one quarter of one percent (0.25%) of (a) the outstanding principal balance of the Loan or (b) in connection with a partial prepayment of the Loan, the principal amount of the Loan being prepaid (the “Exit Fee”), which shall be payable upon (i) any partial prepayment of the Loan by Borrower and (ii) the earlier of (x) the payment by Borrower of the Loan in full, or (y) the Maturity Date (or any acceleration of the Loan following an Event of Default). In furtherance of the foregoing, Borrower acknowledges and agrees that Lender shall have no obligation to accept any payment of the Loan unless and until Borrower shall have also paid the Exit Fee, and Lender shall have no obligation to release any Loan Document upon payment of the Debt unless and until Lender shall have received the entire Exit Fee. Notwithstanding the foregoing or anything herein to the contrary, the Exit Fee shall not be payable with respect to any Principal Payment included in reduction of the principal amount of the Loan as a Monthly Payment Amountresult of the application of any Net Proceeds. Notwithstanding the foregoing, payment of the Exit Fee shall be waived in the event Borrower refinances the Loan with a new permanent loan from Xxxxx Fargo Bank, N.A. (which may be provided by Xxxxx Fargo Bank, N.A., in its sole discretion).