Fee Recipient definition
Examples of Fee Recipient in a sentence
Each Fee Recipient hereby represents that it is a Permitted Investor and agrees to update Internal Revenue Service Form W-9 (or its successor form) or applicable Internal Revenue Service Form W-8 (or its successor form) upon any change in such Person’s circumstances or if such form expires or becomes inaccurate or obsolete, and to promptly notify the Borrower and the Administrative Agent if such Person becomes legally ineligible to provide such form.
To secure the Paying Party’s obligation to pay these amounts, it shall deposit into escrow an amount in cash equal to the Termination Fee or the Go Shop Termination Fee, as the case may be, with an escrow agent selected by the Fee Recipient and on such terms (subject to Section 7.5(b)) as shall be mutually agreed upon by the Fee Recipient and the escrow agent.
The escrow agreement shall also provide that any portion of the Termination Fee or the Go Shop Termination Fee, as the case may be, remaining in escrow on the date that is five (5) years after the date the Termination Fee or the Go Shop Termination Fee, as the case may be, was deposited into escrow shall be released by the escrow agent to the Fee Recipient.
Any costs and expenses of the escrow agent shall be borne solely by the Fee Recipient.
The payment or deposit into escrow by the Paying Party pursuant to this Section 7.5(a) shall be made at the time the Paying Party is obligated to pay the Fee Recipient such amount pursuant to Section 7.4 by wire transfer.
Borrower shall pay the Exit Fee to Exit Fee Recipient in connection with any payment of principal of the Loan in full, whether made in connection with a repayment of the Loan or a permitted or mandatory prepayment of the Loan in full, following an Event of Default or otherwise.
Borrower shall pay to Exit Fee Recipient one-half of one percent (0.5%) of the principal being repaid in connection with any partial prepayment of principal of the Loan on the date of such partial prepayment and the remainder of the Exit Fee, if any, shall be paid by Borrower to Exit Fee Recipient on the Required Payment Date.
Except for the Developer Fee, no compensation from any source shall be received by or be payable to the Borrower, or any Affiliate (collectively the "Developer Fee Recipient") in connection with the provision of development and construction management services for the acquisition and construction of the Development.
On Initial Closing Date, 1,000,000 Class A Warrants identical to the Warrants issued and issuable to the Due Diligence Fee Recipient, and containing all of the rights including but not limited to the registration rights and anti-dilution protections set forth in this Agreement.
The Company will pay a due diligence fee ("Due Diligence Fee") described on Schedule 8 hereto to the parties identified on Schedule 8 hereto (each, a "Due Diligence Fee Recipient").