Rental Discount Fee Sample Clauses

Rental Discount Fee. Buyer will pay in addition to the Purchase Price as set forth in Section 1.2 A above, the sum of ONE MILLION SEVEN HUNDRED AND FIFTY THOUSAND AND 00/100 DOLLARS ($1,750,000.00) to Sellers as a Rental Discount Fee for the following six (6) Restaurant Units (i) Indianapolis (Southport); (ii) Fishers, IN; (iii) Terre Haute, IN; (iv) Evansville, IN; (v) Sterling Heights, MI; and (vi) Newark, DE, upon Sellers and/or PRG presenting written documentation from Outback Steakhouse, Inc. (“OSI”) as the Landlord/Lessor confirming that: (a) the rent for each such Restaurant Unit will be reduced by fifty percent (50%) from the existing rental rate set forth in the respective Lease concerning such respective Restaurant Unit, as shown on Exhibit A, attached hereto and incorporated herein; (b) such respective Lease is extended for a period fifteen (15) years from and after the date of the Closing; and (c) Buyer or its assigns is granted a purchase option exercisable at the tenth (10th) anniversary of the date of Closing, and then at the expiration of the fifteen (15) year lease terms, to purchase all of the six (6) Restaurant Unit Properties based upon the fair market value (“FMV”) of the land only as determined by an appraisal process being one independent, qualified appraiser. If Buyer and OSI agree on a single independent appraiser, such appraiser’s determination shall be binding. If Buyer and OSI are unable to agree on a single appraiser, each shall appoint one appraiser. The appraisers so appointed shall mutually appoint a third appraiser and the average of the three appraisers shall be binding. Notwithstanding the appraisal process, Buyer shall be under no obligation to exercise the option and/or to purchase all of the six (6)
Sample 1
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Related to Rental Discount Fee

  • Prepayment Fee The Prepayment Fee, when due hereunder, to be shared between the Lenders in accordance with their respective Pro Rata Shares; and

  • Prepayment Fees Borrower agrees to pay to each [New Term Loan Lender] the following prepayment fees, if any: [ ]. [Insert other additional prepayment provisions with respect to New Term Loans]

  • Up-Front Fee The Borrowers shall pay to the Agent an up-front fee in the amount and at the times agreed in a Fee Letter.

  • Late Payment Fee Borrower shall pay to Lender a late payment fee equal to six percent (6%) of any Scheduled Payment not paid when due.

  • Upfront Fee The Borrower shall pay to the Agent (for the account of each Original Lender) an upfront fee in the amount and at the times agreed in a Fee Letter.

  • Funding Fee Seller shall pay to Bank a Funding Fee for each Participated Mortgage Loan as compensation for Bank’s costs and expenses incurred in connection with underwriting and processing its purchase of the Participation Interest in such Participated Mortgage Loan and administering such Participation Interest hereunder. The Funding Fee with respect to any Participated Mortgage Loan shall be: (a) earned in full by Bank on the related Purchase Date; and (b) payable to Bank by Seller upon the earlier to occur of the date on which: (i) all or any portion of the related Participation Interest is to be repurchased by Seller from Bank as contemplated by and in accordance with the terms of this Agreement; (ii) such Participated Mortgage Loan is sold to a Take-Out Purchaser as contemplated by and in accordance with the terms of this Agreement; or (iii) the entire principal balance of such Participated Mortgage Loan has been paid in full by the related Borrower.

  • Prepayment Premium Borrower will be required to pay a prepayment premium in connection with certain prepayments of the Indebtedness, including a payment made after Lender’s exercise of any right of acceleration of the Indebtedness, as provided in the Note.

  • PAYMENT OF LOAN FEE Borrower shall pay Bank a fee in the amount of Eleven Thousand Two Hundred Fifty Dollars ($11,250) ("Loan Fee") plus all out-of-pocket expenses.

  • Additional Payment (a) If, notwithstanding the provisions of Section 8(a)(ii), but subject to subsection (b), it is ultimately determined by a court or pursuant to a final determination by the Internal Revenue Service that any portion of Total Payments is subject to the tax (the "Excise Tax") imposed by Section 4999 of the Code (or any successor provision), then the Company shall pay to the Executive an additional amount (the "Gross-Up Payment") such that the net amount retained by the Executive after deduction of any Excise Tax and any interest charges or penalties in respect of the imposition of such Excise Tax (but not any federal, state or local income tax) on the Total Payments, and any federal, state and local income tax and Excise Tax upon the payment provided for by this Section 23 shall be equal to the Total Payments. For purposes of determining the amount of the Gross-Up Payment, the Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation in the calendar year in which the Gross-Up Payment is to be made and state and local income taxes at the highest marginal rates of taxation in the state and locality of the Executive's domicile for income tax purposes on the date the Gross-Up Payment is made, net of the maximum reduction in federal income taxes that could be obtained from deduction of such state and local taxes.

  • Payment of Reimbursement Amount To effect the expense reimbursement provided for in this Agreement, the Fund may offset the appropriate Reimbursement Amount against the management fees, Rule 12b-1 fees and/or shareholder servicing fees payable under the Investment Management Agreement, Rule 12b-1 Plan and/or the Shareholder Servicing Agreement. Alternatively, the Reimbursement Amount shall be paid directly by IICO, IDI and/or WISC. Such offset shall be taken, or such direct payment shall be paid, two times per year within 30 days following the date of a Fund’s applicable semi-annual or annual reporting period.

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