INTEREST RECEIVED Sample Clauses
The INTEREST RECEIVED clause defines how interest earned on funds held or managed under the agreement is to be treated. Typically, this clause specifies whether the interest accrues to the benefit of one party, both parties, or is retained by a third party such as an escrow agent. For example, if funds are held in escrow during a transaction, the clause will clarify who is entitled to any interest generated during that period. Its core practical function is to prevent disputes by clearly allocating the right to interest income, ensuring transparency and fairness in the handling of funds.
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INTEREST RECEIVED. The Agent shall be entitled to retain any interest on any monies collected while held in their account; and any commission earned while acting on behalf of The Landlord.
INTEREST RECEIVED. In exchange for the Senior Manager’s and/or any Transferor’s (as applicable) contribution of the Contributed Points to Holdings, the Senior Manager and each Transferor shall become a Limited Partner and receive a limited partnership interest in Holdings. A portion of such limited partnership shall be a capital interest and a portion of it shall be a profits interest (within the meaning of IRS Revenue Procedures 93-27 and 2001-43), as set forth in the Holdings LPA. The Senior Manager’s and the Transferor(s)’s, as applicable, initial Ownership Percentage is set forth on Annex A.