Key Money. (a) As an inducement for Owner to enter into the transactions contemplated by this Agreement, Hyatt shall, subject to the Funding Conditions, provide to Owner a financial contribution in an amount equal to Two Million Seven Hundred Thousand United States Dollars (US$2,700,000.00), in the form of key money (the “Key Money”) on the date which is the later of (A) 30 days after the Opening Date or (B) the date all of the Funding Conditions (defined below) have been satisfied (the “Key Money Contribution Date”).
Key Money. All rights of any kind to the Key Money.
Key Money. (a) Xxxxx agrees to contribute up to One Million Two Hundred and Fifty Thousand Dollars ($1,250,000) as a key money contribution (the “Key Money”) to be used by the City to cover the costs associated with the re-model and/or reinvention of the Vue Grille & Bar at the Golf Resort or any other capital project designed to expand ROI. Troon agrees to pay the Key Money to City on a pull- down basis, subject to the approval of applicable renovation plans and costs. The Key Money payment from Troon to City shall not be treated as an equity investment, and Troon shall not be entitled to any profit, interest, or dividend from the operation of the Golf Resort. Xxxxx’s contribution of Key Money is based on managing the Golf Resort for the entire Initial Term.
Key Money. (a) Xxxxx agrees to contribute up to One Million Two Hundred and Fifty Thousand Dollars ($1,250,000) as a key money contribution (the “Key Money”) to be used by the City to cover the costs associated with the reinvention of the Vue Grille & Bar at the Golf Resort. Xxxxx agrees to pay the Key Money to the City on a pull-down basis, subject to the approval of applicable renovation plans and costs. The Key Money payment from Troon to City shall not be treated as an equity investment, and Troon shall not be entitled to any profit, interest, or dividend from the operation of the Golf Resort. Xxxxx’s contribution of Key Money is based on managing the Golf Resort for the entire Initial Term.
Key Money. 2.03.1 Manager shall provide to Lessor a financial contribution in the amount of US$900,000 (the “Key Money”) in connection with the renovation of the Hotel pursuant to the PIP, to be funded on the Brand Commencement Date.
Key Money. As consideration for its engagement as hotel manager under this Agreement, Manager will, within five (5) Business Days after the execution of this Agreement, provide a financial contribution to Corporation in the form of (i) a return of a portion of base management fees previously collected under the Original Management Agreement from April 1, 2020 through September 30, 2020 in the aggregate amount equal to $[ _] plus (ii) an additional financial contribution of $4,000,000 (such amounts collectively being referred to herein as the "Key Money")The Key Money shall be applied as follows:
Key Money. Crowne Plaza Borrower (as successor-in-interest to CHPH, LLC) has received a Key Money loan in the original principal amount of $1,500,000.00 from Six Continents Hotels, Inc., a Delaware corporation (“Key Money Lender”), pursuant to that certain Loan Agreement dated as of August 1, 2013 by and between Crowne Plaza Borrower (as successor-in-interest to CHPH, LLC) and Key Money Lender, as evidenced by that certain Promissory Note dated as of August 1, 2013 made by Crowne Plaza Borrower (as successor-in- interest to CHPH, LLC) to the order of Key Money Lender (the “Key Money Note”), and guaranteed pursuant to that certain Guaranty made by Xxxxx X. Xxxxxxx, Xxxx X. Xxxxxxxx XX, Xxxxxx Xxxxxxxx and Xxxxxxxx Xxxxxxxx in favor of Key Money Lender (such three agreements, collectively, the “Key Money Loan Documents”). Crowne Plaza Borrower represents and warrants that, as of the Closing Date: (i) the Key Money Loan Documents are in full force and effect, (ii) there have been no amendments or modifications to the Key Money Loan Documents except for that certain Addendum to Loan Documents dated as of September 17, 2018, (iii) Crowne Plaza Borrower has not received any notice of default under the Key Money Loan Documents, (iv) Crowne Plaza Borrower is not currently in default under the Key Money Loan Documents, (v) the Outstanding Principal Balance (as defined in the Key Money Note) under the Key Money Loan Documents is $900,000.00, and (vi) no payments of principal or interest will be due and payable by Crowne Plaza Borrower to Key Money Lender under the Key Money Loan Documents until the occurrence of an Acceleration Event or the Maturity Date (each as defined in the Key Money Note). ENTITY COVENANTS Section 6.1
Key Money. The Tenant hereby expressly declares that for the grant of the said term no key money or other premium or consideration has been paid to the Landlord or to any person.
Key Money. To the extent any key money is provided by Franchisor to Tenant pursuant to the terms of any Franchise Agreement, Tenant agrees to transfer such key money to Landlord as an advance payment of Rent.
Key Money as defined in Section 2.03.1.
