Additional Due Diligence Fees for Additional Collateral. Borrower shall pay to Lender additional due diligence fees (the “Additional Collateral Due Diligence Fees”) with respect to each Additional Mortgaged Property in an amount equal to the actual costs of Lender’s due diligence for such Additional Mortgaged Properties, including but not limited to third party reports required by Lender plus a $4,500 fee per Additional Mortgaged Property (inclusive of a $1,500 fee payable by Lender to ▇▇▇▇▇▇ ▇▇▇). In connection with any Addition Request, Borrower shall pay to Lender a deposit toward the Additional Collateral Due Diligence Fees equal to the product obtained by multiplying (i) $12,500, by (ii) the number of Additional Mortgaged Properties. The Additional Collateral Due Diligence Fees not covered by the deposit shall be paid by Borrower on the Closing Date (or if the proposed Additional Mortgaged Property does not become part of the Collateral Pool, on demand) for the Additional Mortgaged Property. Any portion of the Additional Collateral Due Diligence Fee paid to Lender not actually used by Lender to cover reasonable due diligence expenses shall be promptly refunded to Borrower.
Appears in 1 contract
Sources: Master Credit Facility Agreement (Colonial Properties Trust)
Additional Due Diligence Fees for Additional Collateral. Borrower shall pay to Lender non-refundable additional due diligence fees (the “Additional Collateral Due Diligence Fees”) with respect to each proposed Additional Mortgaged Property or Substitute Mortgaged Property, as applicable, in an amount equal to the actual costs of Lender’s due diligence for such Additional Mortgaged Properties, including but not limited to third party reports required by Lender plus a $4,500 fee 4,000 per Additional Mortgaged Property or Substitute Mortgaged Property, as applicable, which represents the estimated cost for due diligence expenses. Borrower shall also deposit with Lender an amount equal to $10,000 for each proposed Additional Mortgaged Property or Substitute Mortgaged Property, as applicable (inclusive “Additional Collateral Due Diligence Deposit”) to be used for the payment of a $1,500 fee payable third party costs and out-of-pocket expenses incurred by Lender to and ▇▇▇▇▇▇ ▇▇▇). In connection with any Addition RequestAll Additional Collateral Due Diligence Fees, Borrower shall pay to Lender a deposit toward third party costs and out-of-pocket fees and expenses (not otherwise covered by the Additional Collateral Due Diligence Fees equal to the product obtained Deposit) incurred by multiplying (i) $12,500, by (ii) the number of Additional Mortgaged Properties. The Additional Collateral Due Diligence Fees not covered by the deposit Lender and ▇▇▇▇▇▇ Mae shall be paid by Borrower on the applicable Closing Date (or if the relevant proposed Additional Mortgaged Property or Substitute Mortgaged Property, as applicable, does not become part of the a Collateral Pool, on demand) for the Additional Mortgaged Property or Substitute Mortgaged Property, as applicable. Any portion of the Additional Collateral Due Diligence Fee paid to Deposit deposited with Lender and not actually used by Lender to cover reasonable due diligence expenses shall be promptly refunded to BorrowerBorrower on the applicable Closing Date.
Appears in 1 contract
Sources: Master Credit Facility Agreement (Education Realty Trust, Inc.)
Additional Due Diligence Fees for Additional Collateral. Borrower shall pay to Lender additional due diligence fees (the “Additional Collateral Due Diligence Fees”) with respect to each proposed Additional Mortgaged Property in an amount equal to (i) the actual out of pocket costs of Lender’s due diligence for on such Additional Mortgaged PropertiesProperty, including but not limited to third party reports required by Lender plus (for which Lender will require a deposit as described below), (ii) a $4,500 1,500 fee per Additional Mortgaged Property (inclusive of a $1,500 fee or Substitute Mortgaged Property payable by Lender to ▇▇▇▇▇▇ ▇▇▇)▇ and (iii) a $6,000 fee per Additional Mortgaged Property or Substitute Mortgaged Property payable to Lender. In connection with any Addition RequestWith respect to the due diligence expenses, Borrower shall pay to the Lender a $15,000 deposit toward the Additional Collateral Due Diligence Fees equal to the product obtained by multiplying (i) $12,500, by (ii) the number of for each proposed Additional Mortgaged PropertiesProperty which represents the estimated cost for due diligence expenses. The Additional Collateral Due Diligence Fees Any expenses not covered by the deposit shall be paid by Borrower on the applicable Closing Date (or if the relevant proposed Additional Mortgaged Property does not become part of the a Collateral Pool, on demand) for the Additional Mortgaged Property. Any portion of the Additional Collateral Due Diligence Fee deposit paid to Lender and not actually used by Lender to cover reasonable due diligence expenses shall be promptly refunded to Borrower.
Appears in 1 contract
Sources: Master Credit Facility and Reimbursement Agreement (America First Apartment Investors Inc)
Additional Due Diligence Fees for Additional Collateral. Borrower shall pay to Lender non-refundable additional due diligence fees (the “Additional Collateral Due Diligence Fees”) with respect to each proposed Additional Mortgaged Property or Substitute Mortgaged Property, as applicable, in an amount equal to the actual costs of Lender’s due diligence for such Additional Mortgaged Properties, including but not limited to third party reports required by Lender plus a $4,500 fee 4,000 per Additional Mortgaged Property or Substitute Mortgaged Property, as applicable, which represents the estimated cost for due diligence expenses. Borrower shall also deposit with Lender an amount equal to $10,000 for each proposed Additional Mortgaged Property or Substitute Mortgaged Property, as applicable (inclusive “Additional Collateral Due Diligence Deposit”) to be used for the payment of a $1,500 fee payable third party costs and out-of-pocket expenses incurred by Lender to and ▇▇▇▇▇▇ Mae. All Additional Collateral Due Diligence Fees, third party costs and out-of-pocket fees and expenses (not otherwise covered by the Additional Collateral Due Diligence Deposit) incurred by Lender and ▇▇▇▇▇▇ ▇▇▇). In connection with any Addition Request, Borrower shall pay to Lender a deposit toward the Additional Collateral Due Diligence Fees equal to the product obtained by multiplying (i) $12,500, by (ii) the number of Additional Mortgaged Properties. The Additional Collateral Due Diligence Fees not covered by the deposit ▇ shall be paid by Borrower on the applicable Closing Date (or if the relevant proposed Additional Mortgaged Property or Substitute Mortgaged Property, as applicable, does not become part of the a Collateral Pool, on demand) for the Additional Mortgaged Property or Substitute Mortgaged Property, as applicable. Any portion of the Additional Collateral Due Diligence Fee paid to Deposit deposited with Lender and not actually used by Lender to cover reasonable due diligence expenses shall be promptly refunded to BorrowerBorrower on the applicable Closing Date.
Appears in 1 contract
Sources: Master Credit Facility Agreement (Education Realty Trust, Inc.)
Additional Due Diligence Fees for Additional Collateral. Borrower shall pay to Lender additional due diligence fees (the “Additional Collateral Due Diligence Fees”) with respect to each Additional Mortgaged Property in an amount equal to the actual costs of Lender’s due diligence for such Additional Mortgaged Properties, including but not limited to third party reports required by Lender plus a $4,500 fee per Additional Mortgaged Property (inclusive of a $1,500 fee payable by Lender to ▇▇▇▇▇▇ ▇▇▇Mae). In connection with any Addition Request, Borrower shall pay to Lender a deposit toward the Additional Collateral Due Diligence Fees equal to the product obtained by multiplying (i) $12,500, by (ii) the number of Additional Mortgaged Properties. The Additional Collateral Due Diligence Fees not covered by the deposit shall be paid by Borrower on the Closing Date (or if the proposed Additional Mortgaged Property does not become part of the Collateral Pool, on demand) for the Additional Mortgaged Colonial/ Grandbridge — Master Credit Facility Agreement Property. Any portion of the Additional Collateral Due Diligence Fee paid to Lender not actually used by Lender to cover reasonable due diligence expenses shall be promptly refunded to Borrower.
Appears in 1 contract
Sources: Master Credit Facility Agreement (Colonial Realty Limited Partnership)