Preferred Contingent Facility Fee Clause Samples
Preferred Contingent Facility Fee. In consideration for Lender's agreement to make the Loan, Borrower agrees to pay Lender a preferred contingent facility fee (the "Contingent Facility Fee") in an amount equal to twenty-five percent (25%) of the Loan payable to the extent available out of the Net Sale Price received by Borrower or any Affiliate of Borrower in connection with any Sale that is consummated at any time prior to August __, 2003, whether or not any portion of the Loan is outstanding as of such date. The Contingent Facility Fee shall be due and payable by Borrower to Lender by confirmed wire transfer of immediately available funds on the date of closing of a Sale and prior to the payment by Borrower of any other obligations or distributions. For the purpose of this Section 1.09, the following terms shall have the following meanings:
Preferred Contingent Facility Fee agrees to pay Lender a preferred contingent facility fee (the "Contingent Facility Fee") in an amount equal to twenty-five percent (25%) of the Loan payable to the extent available out of the Net Sale Price received by Borrower or any Affiliate of Borrower in connection with any Sale that is consummated at any time prior to October 6, 2003, whether or not any portion of the Loan is outstanding as of such date. The Contingent Facility Fee shall be due and payable by Borrower to Lender by confirmed wire transfer of immediately available funds on the date of closing of a Sale and prior to the payment by Borrower of any other obligations or distributions. For the purpose of this Section 1.09, the following terms shall have the following meanings: