Cost of Issuance Fee definition
Examples of Cost of Issuance Fee in a sentence
The Cost of Issuance Fee is the closing fee charged to the property owner in an amount equal to 4% of the total principal amount of the a Bond being issued and shall be payable by the property owner concurrently with the closing of the issuance of the Bond.
The sum of the Cost of Issuance Fee less the Closing Costs for a Bond will be payable to Figtree as part of its compensation for the Services.
The Cost of Issuance Fee shall be collected by the Indenture trustee and deposited in the Cost of Issuance Fund under the Indenture.
The Applicant shall pay all costs and expenses incurred by the Corporation in connection with the issuance of the Bonds, the expenditure of the MMRB Loan proceeds, and provision of Credit Enhancement, if any, even if such costs and expenses exceed the Cost of Issuance Fee.
The Cost of Issuance Fee may be reduced to no less than 2% at the election of Figtree as a result of negotiations with the relevant property owner, based on Figtree’s good faith evaluation of the size, complexity and credit quality of the particular project.
Bond issuance closing costs to be paid from the Cost of Issuance Fee will not be incurred by the Authority without the prior consent of Figtree.
The Authority agrees that, during the Term, it shall not modify the Indenture with respect to the application of the Cost of Issuance Fee without the prior written consent of Figtree.
The Corporation shall provide the Applicant with a good faith estimate of the Cost of Issuance Fee prior to closing.
The Authority shall be paid an issuance fee from the Cost of Issuance Fee collected at the time of each PACE bond issuance by the Indenture trustee in an amount equal to 0.25% of the principal amount of the Bonds issued at the time of each issuance.