Key Money Sample Clauses

Key Money. (a) As an inducement for Owner to enter into the transactions contemplated by this Agreement, Hyatt shall, subject to the Funding Conditions, provide to Owner a financial contribution in an amount equal to Two Million Seven Hundred Thousand United States Dollars (US$2,700,000.00), in the form of key money (the “Key Money”) on the date which is the later of (A) 30 days after the Opening Date or (B) the date all of the Funding Conditions (defined below) have been satisfied (the “Key Money Contribution Date”). (b) Hyatt’s obligation to provide such Key Money is expressly subject to satisfaction of the following conditions (the “Funding Conditions”): (i) Owner shall have satisfied each of the conditions and undertakings in Article III and Sections 4.2 and 11.3 of this Agreement; (ii) Hyatt’s reasonable confirmation on (or no earlier than 5 days prior to) the Key Money Contribution Date of Owner’s compliance with the representations and warranties set forth in Article XXI of this Agreement; (iii) Owner is not in default in the performance of any obligations pursuant to this Agreement or any of the other Hyatt Agreements, including payment of all amounts owing to Hyatt or its Affiliates hereunder or thereunder. Notwithstanding the foregoing, to the extent any payments are due and payable on the Key Money Contribution Date by Owner to Hyatt, Hyatt may elect, in its sole discretion, to fund the Key Money to Owner reduced by the aggregate amount owing by Owner to Hyatt. For the avoidance of doubt, Hyatt’s obligation to fund the Key Money pursuant to this Section 3.5 shall be considered satisfied in full despite any set-off by Hyatt of amounts owing by Owner to Hyatt; (iv) Owner shall have delivered a fully-executed estoppel certificate from any lenders and ground lessors, or equivalent estoppel certifications made by each such party, in its own capacity, to Hyatt, set forth in such party’s applicable fully-executed Financing Non-Disturbance Agreement and/or Lessor Non-Disturbance Agreement at the time of delivery to Hyatt in accordance herewith; (v) Owner shall have delivered a fully-executed guaranty (the “Guaranty”) from a guarantor (other than Owner) (the “Guarantor”) that is acceptable to Hyatt meeting the Net Worth and Liquidity Requirement to guarantee the full repayment to Hyatt of any Unamortized Key Money in the event of any termination or expiration of this Agreement, substantially in the form of Exhibit F attached hereto, and all the Guaranty’s ancillary...

Key Money. To the extent any key money is provided by Franchisor to Tenant pursuant to the terms of any Franchise Agreement, Tenant agrees to transfer such key money to Landlord as an advance payment of Rent.

Key Money as defined in Section 2.03.1.

Key Money. The Tenant hereby expressly declares that for the grant of the said term no key or construction money has been paid to the Landlord or to any person.

Key Money. 2.03.1 Manager shall provide to Lessor a financial contribution in the amount of US$900,000 (the “Key Money”) in connection with the renovation of the Hotel pursuant to the PIP, to be funded on the Brand Commencement Date. 2.03.2 If this Agreement is terminated for any reason prior to the scheduled expiration of the Initial Term, except as otherwise contemplated Double Tree Resort by Hilt▇▇ ▇▇▇▇▇▇ ▇▇▇ch Oceanfront - MA in Section 7.03.4(a), Owner shall refund (or shall cause Lessor to refund) to Manager an amount equal to (a) the Key Money, multiplied by (b) a fraction, the numerator of which is the number of whole calendar months from the date of such termination until the scheduled expiration of the Initial Term, and the denominator of which is 240. Except as otherwise stated in Section 7.03.4(a), if Owner is the party terminating this Agreement, the refund of the unamortized portion of the Key Money shall be a condition of the effectiveness of any termination. 2.03.3 In the event of any conflict between the terms and provisions of this Section 2.03 and any other provision of this Agreement, the terms and provisions of this Section 2.03 shall control. The provisions of this Section 2.03 shall survive any cancellation, termination or expiration of this Agreement.

Key Money. (a) ▇▇▇▇▇ agrees to contribute up to One Million Two Hundred and Fifty Thousand Dollars ($1,250,000) as a key money contribution (the “Key Money”) to be used by the City to cover the costs associated with the reinvention of the Vue Grille & Bar at the Golf Resort. ▇▇▇▇▇ agrees to pay the Key Money to the City on a pull-down basis, subject to the approval of applicable renovation plans and costs. 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. ▇▇▇▇▇’s contribution of Key Money is based on managing the Golf Resort for the entire Initial Term. (b) In the event this Agreement or the Restaurant Lease is terminated early by City or Troon for any reason, the City shall be required to pay Troon the Key Money Repayment Amount (as hereinafter defined). “Key Money Repayment Amount” shall mean an amount equal to the pro-rata amount of the Key Money payment, based on the number of days remaining in the Initial Term (i.e., the Key Money amount divided by the total number of days in the Initial Term, multiplied by the number of days remaining in the Initial Term as of the termination date).

Key Money. Any sum of money demanded by the lessor by way of a premium, reimbursement of expenses, administration charges or otherwise as consideration for the grant, continuance, extension, variation or renewal of a lease, but does not include any sum payable by way of rent or bond.

Key Money. It is hereby expressly declared and agreed that no key or construction money or other premium of a similar nature (other than the Rent and the Deposit) has/have been paid or is/are payable by the Tenant for the Term hereby created.

Key Money. (a) ▇▇▇▇▇ agrees to contribute up to One Million Two Hundred and Fifty Thousand Dollars ($1,250,000) as a key money contribution (the “Key Money”) to be used by the City to cover the costs associated with the re-model and/or reinvention of the Vue Grille & Bar at the Golf Resort or any other capital project designed to expand ROI. Troon agrees to pay the Key Money to City on a pull- down basis, subject to the approval of applicable renovation plans and costs. 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. ▇▇▇▇▇’s contribution of Key Money is based on managing the Golf Resort for the entire Initial Term. (b) In the event this Agreement or the Restaurant Lease is terminated by City or Troon for any reason, the City shall be required to pay Troon the Key Money Repayment Amount (as hereinafter defined). “Key Money Repayment Amount” shall mean an amount equal to the pro-rata amount of the Key Money payment, based on the number of days remaining in the Initial Term (i.e., the Key Money amount divided by the total number of days in the Initial Term, multiplied by the number of days remaining in the Initial Term as of the termination date).