Organizational Fee Sample Clauses

Organizational Fee. As compensation for the time and effort involved in organizing the Company, the Company shall pay to the Manager an organization fee in an amount equal to TWO HUNDRED THOUSAND DOLLARS ($200,000) (the “Organization Fee”). The Manager shall be paid the Organization Fee following acceptance of subscriptions of not less than THREE MILLION AND NO/100 DOLLARS ($3,000,000.00).
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Organizational Fee. As compensation for the time and effort involved in organizing the Company, the Company shall pay to Benchmark Capital Management, LLC an organization fee in the amount of One Hundred Thousand Dollars ($100,000.00) (the "Organization Fee"). Benchmark Capital Management, LLC shall be paid the Organization Fee upon the Company accepting subscriptions for a total of Ten Thousand (10,000) Units.
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Related to Organizational Fee

  • Organization, etc Financial Security is a stock insurance company duly organized, validly existing and authorized to transact financial guaranty insurance business under the laws of the State of New York.

  • Organizational Expenses The Partnership shall elect to deduct expenses, if any, incurred by it in organizing the Partnership ratably over a sixty (60) month period as provided in Section 709 of the Code.

  • Organization; Power Each Loan Party (i) is duly organized or incorporated, validly existing and, to the extent such concept is applicable in the corresponding jurisdiction, in good standing under the laws of the jurisdiction of its organization or incorporation and (ii) has all requisite organizational or constitutional power and authority to execute and deliver this Amendment and perform its obligations under the Credit Agreement as amended by this Amendment, and the other Loan Documents to which it is a party, except, in the case of clause (i) (other than with respect to Holdings and the Borrower), where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect.

  • Organization Expenses All expenses incurred in connection with organization of the Company will be paid by the Company.

  • Organizational Contributions In connection with the formation of the Partnership under the Delaware Act, the General Partner made an initial Capital Contribution to the Partnership in the amount of $20.00, for a 2% General Partner Interest in the Partnership and has been admitted as the General Partner of the Partnership, and the Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $980 for a 98% Limited Partner Interest in the Partnership and has been admitted as a Limited Partner of the Partnership. As of the Closing Date, the interest of the Organizational Limited Partner shall be redeemed; and the initial Capital Contribution of the Organizational Limited Partner shall thereupon be refunded. Ninety-eight percent of any interest or other profit that may have resulted from the investment or other use of such initial Capital Contributions shall be allocated and distributed to the Organizational Limited Partner, and the balance thereof shall be allocated and distributed to the General Partner.