Common Contracts
1 similar Guarantee Fee Agreement contracts
Guarantee fee agreement templateGuarantee Fee Agreement • February 5th, 2021
Guarantee fee. Neither the Manager nor any of his partners are required to guarantee, personal liability or collateral of assets to secure any debt that may be incurred by the Company. If, however, any such person guarantees, becomes personally responsible for or undertakes his own assets to ensure the payment of any debt of the Company, the Company must pay such a person an annual guarantee fee of 1% of the above (i) amount of such guaranteed debt on the first day of the fiscal year or (ii) the highest amount of such guaranteed debt at any time during the fiscal year; however, provided that, despite the foregoing, if such a person undertakes to provide but otherwise not be personally liable for such debt, the annual guarantee contribution does not in any case exceed 1 per cent of the fair value of the assets declared to secure such debt, as such collateral remains in force. Such fees are paid no later than 15 January of each fiscal year and, if at any time of the year the amount of gu
