Common use of Financing Coordination Fee Clause in Contracts

Financing Coordination Fee. In the event of the origination or refinancing of any debt financing obtained by the Company, including the assumption (directly or indirectly) of existing debt, that is used to acquire properties, to make other permitted investments or is assumed (directly or indirectly) in connection with the acquisition of properties, and if the Advisor provides a substantial amount of services, as determined by the Independent Directors in connection therewith, the Company will pay to the Advisor a Financing Coordination Fee equal to 1% of the amount available to the Company and/or outstanding under such financing; provided, however, that the Advisor shall not be entitled to a Financing Coordination Fee in connection with the refinancing of any loan secured by any particular property that was previously subject to a refinancing in which the Advisor received a Financing Coordination Fee. Financing Coordination Fees payable from loan proceeds from permanent financing will be paid to the Advisor as the Company acquires such permanent financing, however, no Financing Coordination Fees will be paid from loan proceeds from any line of credit unless all net offering proceeds received as of the date proceeds from the line of credit are drawn for the purpose of acquiring Properties or other permitted investments (other than reasonable working capital reserves) have been invested by the Company. In addition, with respect to any revolving line of credit, our Advisor will receive a Financing Coordination Fee only in connection with amounts being drawn for the first time and not upon any re-drawing of amounts that previously were repaid by us.