Development Fee Cap definition
Development Fee Cap means an amount not to exceed […***…] of Project Costs set forth in the approved Project Budget. “Disbursement” shall have the meaning given in the Disbursement Agreement. “Disbursement Agent” shall mean the Administrative Agent, and its permitted successors and assigns in the capacity of disbursement agent under the Disbursement Agreement. 15 “Disbursement Agreement” shall mean the Disbursement Agreement substantially in the form of Exhibit E, dated as of the date hereof, among the Administrative Agent, the Borrower, and the Disbursement Agent. “Disbursement Agreement Event of Default” shall mean an “Event of Default” under the Disbursement Agreement. “Disbursement Request” shall have the meaning given in the Disbursement Agreement. “Disposition” shall mean, with respect to any property, any sale, lease, sale and leaseback, conveyance, transfer or other disposition thereof. The terms “Dispose” and “Disposed of” shall have correlative meanings. “Disqualified Stock” shall mean any Capital Stock that, by its terms (or by the terms of any security into which it is convertible, or for which it is exchangeable, in each case at the option of the holder of the Capital Stock), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise (other than as a result of a change of control or asset sale), is convertible or exchangeable for Indebtedness or Disqualified Stock, or is redeemable at the option of the holder of the Capital Stock, in whole or in part (other than as a result of a change of control or asset sale), on or prior to the date that is 91 days after the latest Maturity Date then in effect. Notwithstanding the preceding sentence, any Capital Stock that would constitute Disqualified Stock solely because the holders of the Capital Stock have the right to require the Guarantor to repurchase such Capital Stock upon the occurrence of a change of control or an asset sale will not constitute Disqualified Stock if the terms of such Capital Stock provide that the Guarantor may not repurchase or redeem any such Capital Stock pursuant to such provisions unless such repurchase or redemption complies with Section 6.01 hereof. The amount of Disqualified Stock deemed to be outstanding at any time for purposes of this Agreement will be the maximum amount that the Guarantor and its Restricted Subsidiaries may become obligated to pay upon the maturity of, or pursuant to any mandatory redemption provisions of,...
Examples of Development Fee Cap in a sentence
In no event shall the fees payable to Developer exceed the Development Fee Cap.