Release Fees definition

Release Fees. Notwithstanding anything contained in Section 2.6 or Schedule "A" of the Avenue Plaza Mortgage, Avenue Plaza, Equivest Louisiana, EFI and CapitalSource agree as follows: (a) Schedule A of the Avenue Plaza Mortgage is hereby deleted. Avenue Plaza agrees that the term "Unit Release Fees," as used in the Avenue Plaza Mortgage and in the Avenue Plaza Note, shall mean an amount equal to (i) $2,500.00 for each annual Condominium Parcel sold, and (ii) $1,250 for each biennial Condominium Parcel sold. Unit Release Fees will be paid by Avenue Plaza to CapitalSource on a weekly or biweekly basis after the consummation of the closing of the sale of each Condominium Parcel and will be applied by CapitalSource to reduce the outstanding principal balance of the Avenue Plaza Loan. CapitalSource will not be obligated to deliver to Avenue Plaza any partial release of lien relating to any Condominium Parcel sold until (i) CapitalSource has received the Unit Release Fee applicable to the sale of such Condominium Parcel and (ii) all other conditions set forth in Section 2.6 of the Avenue Plaza Mortgage have been satisfied. As used herein, the term "Condominium Parcel" shall have the same meaning ascribed to such term in the Declaration (defined in the Avenue Plaza Mortgage as that certain Amended and Restated Timeshare and Condominium Declaration creating and establishing Avenue Plaza Condominiums dated October 1, 1993 and registered in the Notarial Archives, Orleans Parish as No. 93-41669, and in the Conveyance Office of the Parish of Orleans under Instrument No. 76107, as amended from time to time).
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Release Fees shall have the meaning set forth in Section 6.8.
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Examples of Release Fees in a sentence

  • The Project Release Fees shall be paid to FINOVA concurrently with the closing of such sale.

  • All Letter of Credit Guaranty Fees, Bankers Acceptance Fees, Steamship Guarantee Fees and/or Airway Release Fees shall be due and payable on the date of issuance and each date of renewal of the applicable Letter of Credit, Bankers Acceptance, Steamship Guarantee and/or Airway Release.

  • Servicing Agent shall service each Applicable Underlying Loan, which shall include but not be limited to the collection of Release Fees and all other amounts owed Borrower by the Applicable Underlying Borrower, pursuant to the Applicable Underlying Loan Documents, subject to the terms, provisions, and conditions of Section 2 hereof and of the Servicing Agreement and the Lockbox Agreement.

  • Subject to the provisions of Section 9.6 of the Second Master Modification Agreement, Maker agrees that upon payment in full of the loan evidenced by this Note, Holder shall have no obligation discharge this Note or to deliver to Maker any partial release of lien relating to any Interval Unit subsequently sold unless and until Holder has received the Interval Release Fees applicable to the sale of an Interval Unit.

  • Following expiration of the Borrowing Term, accrued interest on the outstanding principal balance of the Inventory Loan shall be payable monthly, on the last Business Day of each month, and the outstanding principal balance of the Inventory Loan shall be payable through the payment of Release Fees concurrently with the sale or other disposition of individual items of Inventory until the Maturity Date, at which time all outstanding amounts shall be due and payable.

  • Notwithstanding any other provision of this Contract, if there is a dispute, pending final resolution of such dispute, all of Owner's rights under this Contract shall continue in full force and effect, and Vendor will not terminate the RTU License, and so long as Owner continues to pay Vendor applicable Annual Maintenance Release Fees, Vendor will not terminate, suspend, interrupt or delay maintenance and support of the Software.

  • Borrower shall make mandatory principal payments to Lender, to be paid on the sale of each and every Interval (individually, a "Interval Release Fee" and, collectively, "Interval Release Fees") without regard to whether such sale be by direct cash payment to Borrower, or by financed installment purchase.

  • The Borrower shall pay in full all Notes Outstanding, and the required amount of the Release Fees and the required Credit Facility Termination Fee as a condition to the termination of the Master Agreement and the Credit Facility.

  • The Project Release Fees with respect to each of Fountains, Project (Terraces - Phase 1), Project (Terraces - Phase 2), Winn▇▇▇, ▇▇oject (Reno), Brigantine Inn, Brigantine Villas, Calvada RV Park and Calvada Land shall equal ten percent (10%) of the gross sales price of a Lot or Unit sold with such Project.

  • Project Release Fees and the release fees payable pursuant to the following sentence shall be applied in the manner set forth in Section 5.

Related to Release Fees

  • Expense Fees As to each Mortgage Loan, the sum of the Servicing Fee and the Trustee Fee.

  • License Fees means the license fees, including all taxes thereon, paid or required to be paid by Licensee for the license granted under this Agreement.

  • Release Amount means, for a Property, the following applicable amount together with any other amounts specified in Section 2.4.4:

  • Late Fees shall have the meaning set forth in Section 2(d).

  • Service Fees means all fees payable by Party B to Party A pursuant to Article 3 of this Agreement in respect of the Services provided by Party A.