Examples of Key Money in a sentence
The Key Money payment from Troon to City shall not be treated as an equity investment, and Troon shall not be entitled to any profit, interest, or dividend from the operation of the Golf Resort.
As a condition to any termination pursuant to this Article 6.2, the City shall pay Troon all Management Fees and other amounts due Troon under this Agreement for the period of time prior to the termination date, including, but not limited to, the Key Money Repayment Amount.
As a condition to any termination by City under this Article 4.1(b), City shall pay to Troon all Management Fees (i.e., Base Management Fees, Incentive Management Fees) and other amounts due Troon under this Agreement for the period of time prior to the termination, including but not limited to the Key Money Repayment Amount, but City shall not be required to pay any penalty or termination fee upon such termination.
Xxxxx’s contribution of Key Money is based on managing the Golf Resort for the entire Initial Term.
Xxxxx agrees to pay the Key Money to the City on a pull-down basis, subject to the approval of applicable renovation plans and costs.