Interest on Developer Equity Clause Samples

Interest on Developer Equity. In the event Developer finances a portion of the Reimbursable Project Costs with equity (it being anticipated that equity of at least twenty percent (20%) will be required to fund construction of the Redevelopment Project in order to secure debt financing for the remaining portion), Developer shall receive as a Reimbursable Project Cost, in addition to the return of its equity, interest on said equity as and from the date the equity was advanced at a rate equal to the UMB prime rate of interest plus one percent (1.0%), but in no event shall such rate of interest exceed ten percent (10.0%).