RE-LEASING FEE definition
RE-LEASING FEE means, with respect to any Equipment, a fee payable to the General Partner for providing re-leasing services to the Partnership, not to exceed the lesser of:
(i) the competitive rate for comparable services for similar equipment; or
(ii) 2% of gross rental revenues derived from the re-lease of the Equipment after the time that the re-lease of the Equipment has been consummated as a result of the efforts of the General Partner or its Affiliates.
Examples of RE-LEASING FEE in a sentence
Owner agrees to pay a fee of Ten Dollars ($10.00) per electronic player station for the cost and expense of re-leasing the Equipment (the "RE-LEASING FEE").