Defeasance Fee definition
Examples of Defeasance Fee in a sentence
If Lender does not receive the Defeasance Fee, then Borrower’s right to obtain Defeasance pursuant to that Defeasance Notice will terminate.
If Lender does not receive the Defeasance Fee, then Borrower’s right to obtain Defeasance pursuant to that Defeasance Notice shall terminate.
In connection with the delivery of the Defeasance Notice, the Borrower shall cause to be paid to the Funding Lender Representative the Defeasance Fee set forth in the Continuing Covenant Agreement.
If Lender does not receive the Defeasance Fee, then ▇▇▇▇▇▇▇▇’s right to obtain Defeasance pursuant to that Defeasance Notice will terminate.
In connection with the delivery of the Defeasance Notice, Borrower shall cause to be paid to Funding Lender Representative the Defeasance Fee set forth in the Continuing Covenant Agreement.
Borrower agrees that the Defeasance Fee represents a fair and reasonable estimate, taking into account all circumstances existing on the date of this Instrument, of the damages Lender will incur by reason of Borrower’s default.
If Lender does not timely receive the Defeasance Fee, then ▇▇▇▇▇▇▇▇’s right to obtain Defeasance pursuant to that Defeasance Notice will terminate.
The Borrower shall pay to ▇▇▇▇▇▇▇ Mac the non-refundable Defeasance Fee in connection with the giving of any Defeasance Notice pursuant to Section 4.04(c) of the Project Loan Agreement.
Borrower will pay to Freddie Mac the non-refundable Defeasance Fee in connection with the giving of any Defeasance Notice pursuant to Section 4.04(c) of the Project Loan Agreement.
Such Transaction Expenses, the Defeasance Fee and the Lease Arrangement Fee may be added to the Property Cost to the extent supported by the Appraisal and agreed by the Agent and the Participants.