Renegotiation Fee Sample Clauses

Renegotiation Fee. In partial consideration of the execution and delivery of this Agreement, Company will pay to Penn a one-time, non-refundable, non-creditable renegotiation fee of $100,000, payable in four equal installments, as follows: $25,000_____ on February 28, 2003 $25,000_____ on March 31, 2003 $25,000_____ on April 30, 2003 $25,000_____ on May 31, 2003
Sample 1
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Renegotiation Fee. In consideration of the terms and conditions of this Agreement, on the Effective Date, Hotel Owner shall pay to Garage Owner the sum of Four Hundred Thousand and No/100 Dollars ($400,000.00) as a renegotiation fee (the “Renegotiation Fee”). In addition, Hotel Owner agrees to pay, on the terms and conditions set forth herein, up to One Hundred Fifty Thousand and No/100 Dollars ($150,000.00) (“Capital Holdback”), which amount shall be used and applied for the sole and exclusive purpose of improving the Parking Facility in accordance with the scope, timing and approximate cost of improvements set forth on Exhibit C attached hereto and incorporated herein by this reference (the “Improvements”). If the final cost to complete all of the Improvements is more than $150,000, then upon Hotel Owner’s request and at Hotel Owner’s expense, Garage Owner will, on the terms and conditions set forth in this Section 2, perform and complete all or any portion of the remaining Improvements (i.e. those that were not performed with the Capital Holdback) at the Parking Facility. If the final cost of all of the Improvements is less than $150,000, then the remaining Capital Holdback shall be paid to Garage Owner upon completion of such Improvements in a good and workmanlike manner. Garage Owner will consider the use of a general contractor recommended by Hotel Owner to perform the agreed upon Improvements and will reasonably entertain any bids provided by such general contractor recommended by Hotel Owner. Notwithstanding the foregoing, Garage Owner shall have the right in its sole and absolute discretion to determine the manner, methodology and performance of the Improvements, provided that the general contractor selected by Garage Owner and the contract entered into with such general contractor and any amendments thereto (the “GC Contract”) shall be subject to Hotel Owner’s .approval, which approval shall not be unreasonably withheld. The GC Contract shall require commencement of the Improvements within 45 days after the Effective Date and shall require substantial completion of the Improvements within 180 days after the date of the GC Contract, subject to any delays caused by force majeure. Hotel Owner agrees to make disbursements of the Capital Holdback directly to the general contractor under the GC Contract (or other appropriate payee) within, ten (10) days after receipt of a request for payment from Garage Owner, which shall include (i) a certification from the general cont...
Sample 1

Related to Renegotiation Fee

  • Modification Fee In consideration of the Lenders amending the Loan Agreement as provided herein, each Borrower jointly and severally agrees to pay to the Agent for the account of each Lender approving this Amendment (which approval is evidenced by its signature below) a modification fee in an amount equal to one-half of one percent (0.50%) of such Lender’s Commitment.

  • Extension Fee If the Borrower exercises its right to extend the Termination Date in accordance with Section 2.12., the Borrower agrees to pay to the Agent for the account of each Lender a fee equal to two-tenths of one percent (0.20%) of the amount of such Lender’s Commitment (whether or not utilized) at the time of such extension. Such fee shall be due and payable in full on the date the Agent receives the Extension Request pursuant to such Section.

  • Renewal Fee Borrower agrees to pay a fee equal to one-quarter of one percent (0.25%) of the Bank’s committed amount for the Line of Credit upon any renewal of the Line of Credit.

  • Construction Fee A fee or other remuneration for acting as general contractor and/or construction manager to construct improvements, supervise and coordinate projects or to provide major repairs or rehabilitations on a Property.

  • Option Fee On the date hereof, Purchaser agrees to deliver to Owner the sum of One Thousand ($1,000.00) (the "Option Fee"). In the event that Purchaser exercises the Option, the Option Fee shall not be applied to the purchase price of the Premises. If Purchaser does not exercise the Option, Owner shall retain the Option Fee.

  • Extension Fees The Borrower shall pay to the Administrative Agent (i) on the First Extension Date, for the account of each Lender, a Facility extension fee, in an amount equal to 0.25% of each Lender’s Revolving Credit Commitment then outstanding and (ii) on the Second Extension Date, for the account of each Lender, a Facility extension fee, in an amount equal to 0.25% of each Lender’s Revolving Credit Commitment then outstanding.

  • Origination Fee The Borrower shall pay the Lender a fully earned and non-refundable origination fee of $50,000, due and payable upon the execution of this Agreement.

  • Development Fee The fee for the packaging of a Company Property, including negotiating and approving plans and assisting in obtaining zoning and necessary variances and financing for a specific Company Property to be developed or under development, either initially or at a later date.

  • Utilization Fee If the aggregate outstanding amount of (i) all Revolving Credit Advances hereunder and (ii) all "Revolving Credit Advances" under (and as defined in) the Three-Year Agreement exceeds thirty-three percent (33%) of the aggregate amount of (x) all Commitments hereunder and (y) all "Commitments" under (and as defined in) the Three-Year Agreement then in effect on such date (or, if any of the Commitments or "Commitments" have been terminated, the aggregate amount of all Commitments and "Commitments" in effect immediately prior to such termination), the Borrower will pay to the Agent for the ratable benefit of the Lenders a utilization fee (the "Utilization Fee") at a per annum rate equal to the Applicable Utilization Fee Rate in effect from time to time payable on the aggregate outstanding amount of all Revolving Credit Advances on such date, payable in arrears quarterly on the last day of each March, June, September and December, and on the Revolver Termination Date.

  • Termination Fee (a) In the event that:

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