Forward commitment fee definition

Forward commitment fee means a fee or other consideration paid to a lender for

Forward commitment fee means a fee or other consideration paid to a lender for the purpose of securing a binding forward commitment by or through the lender to make conventional loans to two or more credit worthy purchasers, including future purchasers, of residential units, or a fee or other consideration paid to a lender for the purpose of securing a binding forward commitment by or through the lender to make conventional loans to two or more credit worthy purchasers, including future purchasers, of units to be created out of existing structures pursuant to chapter 515B, or a fee or other consideration paid to a lender for the purpose of securing a binding forward commitment by or through the lender to make cooperative apartment loans to two or more credit worthy purchasers, including future purchasers, of a share or shares of stock or a membership certificate or certificates in a cooperative apartment corporation; provided, that the forward commitment rate of interest does not exceed the maximum lawful rate of interest effective as of the date the forward commitment is issued by the lender.

Forward commitment fee means the amounts payable by the Company to Ambac pursuant to Section 1.02 hereof.

Examples of Forward commitment fee in a sentence

• In consideration of Lender's reservation until Closing of the funds required for the Loan, Borrower does now pay to Lender $ none as a forward commitment fee (the "Forward Commitment Fee").

• Ambac agrees to issue the Policy on the Settlement Date (as defined in the Contract of Purchase between the Company and the underwriters of the Bonds dated January 19, 2005) and in consideration of Ambac's agreement to issue the Policy hereunder, the Company hereby agrees to pay a Forward Commitment Fee in the amount of $8,861.53, which shall be payable as a lump sum on the Closing Date and a Premium in the amount of $363,831.00, which shall be payable as a lump sum upon delivery of the Policy.

• Lender shall hold the Application Fee, Interest Rate Standby Fee, and Forward Commitment Fee, if any (collectively, the "Fees") for its own account and may commingle the Fees with other funds of Lender.