Loan Origination Fees and Lender Discount Points. At closing of the Loan Origination Fee are collected from borrowers by the Manager in the amount of Nine Hundred and Ninety-seven Dollars ($997) for every Three Hundred Thousand Dollars ($300,000) principal Loan amount. Origination Fees shall be shared between the Manager and Fund as follows: Eighty Percent (80%) of Origination Fees will be payable to the Manager and Twenty Percent (20%) of the fees will be payable to the Company. The Manager reserves the right to modify the Origination Fee at any time for any reason (or no reason), without Members’ consent, based upon changes in prevailing market rates charged by the Company’s competitors.
Appears in 6 contracts
Samples: Limited Liability Company Operating Agreement (Circle of Wealth Fund III LLC), Operating Agreement (Circle of Wealth Fund III LLC), Operating Agreement (Circle of Wealth Fund III LLC)
