Release Fee. Borrower shall pay to Lender an administrative release fee equal to $10 (the “Release Fee”) for each Pledged Interval sold or otherwise released. Such Release Fee shall be due and payable to Lender whether or not a Release Price is due and payable to Lender and whether or not all Obligations have been paid in full.
Appears in 2 contracts
Sources: Inventory Loan and Security Agreement (Silverleaf Resorts Inc), Inventory Loan and Security Agreement (Silverleaf Resorts Inc)
Release Fee. Borrower shall pay to Lender an administrative release fee equal to $10 (the “Release Fee”"RELEASE FEE") for each Pledged Interval sold or otherwise released. Such Release Fee shall be due and payable to Lender whether or not a Release Price is due and payable to Lender and whether or not all Obligations have been paid in full.
Appears in 1 contract
Sources: Inventory Loan and Security Agreement (Silverleaf Resorts Inc)