Common use of Affiliate Fees Clause in Contracts

Affiliate Fees. Borrower shall have disclosed to Lender, and Lender shall have approved, all fees, commissions and other amounts (collectively, "Affiliate Fees") which have been or will be reimbursed or paid to or paid on behalf of Borrower, any Guarantor, any Asset Guarantor or any Affiliate thereof in connection with the financing of the Assets. All Affiliate Fees shall be deducted from the calculation of capitalization costs of the financing transaction contemplated by this Agreement for determining the maximum principal amount of the Loan and Borrower’s required equity contribution. Without limitation on the foregoing, all Affiliate Fees shall be subordinate to the Loan and shall be terminable by Lender in the event of the occurrence of an Event of Default;

Appears in 2 contracts

Sources: Loan Agreement (IMH Financial Corp), Loan Agreement (IMH Financial Corp)

Affiliate Fees. Borrower shall have disclosed to Lender, and Lender shall have approved, all fees, commissions and other amounts (collectively, "Affiliate Fees") which have been or will be reimbursed or paid to or paid on behalf of Borrower, any Guarantor, any Asset Guarantor or any Affiliate thereof in connection with the acquisition or financing of the AssetsProperty. All Affiliate Fees shall be deducted from the calculation of the capitalization costs of the financing transaction contemplated by this Agreement for determining the maximum principal amount of the Loan and Borrower’s required equity contribution. Without limitation on the foregoing, all Affiliate Fees shall be subordinate to the Loan and shall be terminable by Lender in the event of the occurrence of an Event of Default;

Appears in 1 contract

Sources: Loan Agreement (IMH Financial Corp)