Taxable Fee definition
Taxable Fee means a fee that is equal to a rate of twelve percent (12.0%) per annum or a rate per annum that is two percent (2%) in excess of the Prime Rate, with changes in the Taxable Fee effective concurrently with each announced change in the Prime Rate.
Examples of Taxable Fee in a sentence
If an Initial Notification of Taxability shall occur, the Borrower shall be obligated to pay an additional Taxable Fee to the Funding Lender from the date of such Initial Notification of Taxability, as provided in the Construction Funding Agreement.