Common use of Exit Fee Clause in Contracts

Exit Fee. (i) In all events and under all circumstances (except as otherwise expressly set forth in this Section 2.7(d)), Borrower shall be obligated to pay to Lender an exit fee (the “Exit Fee”) in an amount equal to 0.50% of the original principal amount of the Loan, which amount shall be payable as follows: (A) upon any (and each) partial prepayment of the Loan in accordance with the terms hereof, in addition to all other amounts payable to Lender hereunder, Borrower shall pay to Lender, on account of the Exit Fee, an amount equal to 0.50% of the amount so prepaid and (B) upon repayment in full of the Debt or the acceleration thereof in accordance with the terms of any of the Loan Documents, Borrower shall pay to Lender the entire Exit Fee which would be due on such date, less any amounts on account thereof previously paid to Lender under the foregoing clause (A) of this subsection. In furtherance of the foregoing, Borrower expressly acknowledges and agrees that (y) Lender shall have no obligation to accept any prepayment of the Loan unless and until Borrower shall have complied with this Section 2.7(d) and (z) Lender shall have no obligation to release any Loan Document upon payment of the Debt unless and until Lender shall have received the entire Exit Fee. (ii) Borrower expressly acknowledges and agrees that the Exit Fee (A) shall constitute additional consideration for the Loan, (B) shall be in addition to and not offset by any other amounts due and payable hereunder (including, without limitation and to the extent applicable, the Prepayment Premium) and (iii) shall, upon payment, be the sole and exclusive property of Lender. (iii) Notwithstanding the foregoing or anything to the contrary contained herein or in any other Loan Documents, no Exit Fee shall be payable in connection with a repayment of the Loan by virtue of a refinancing of the Property provided that such refinancing is provided by Citibank.

Exit Fee. (i) In Borrower agrees that in all events and under all circumstances (except as otherwise expressly set forth in this Section 2.7(d))circumstances, Borrower shall be obligated to pay to Lender ▇▇▇▇▇ Fargo Bank, N.A. an exit fee of an amount equal to one quarter of one percent (0.25%) of the outstanding principal balance of the Loan or (b) in connection with a partial prepayment of the Loan, the principal amount of the Loan being prepaid (the “Exit Fee”) in an amount equal to 0.50% of the original principal amount of the Loan), which amount shall be payable as follows: upon (Ai) upon any (and each) partial prepayment of the Loan in accordance with the terms hereof, in addition to all other amounts payable to Lender hereunder, by Borrower shall pay to Lender, on account of the Exit Fee, an amount equal to 0.50% of the amount so prepaid and (Bii) upon repayment in full the earlier of (x) the Debt or the acceleration thereof in accordance with the terms of any payment by Borrower of the Loan Documentsin full, Borrower shall pay to Lender or (y) the entire Exit Fee which would be due on such date, less Maturity Date (or any amounts on account thereof previously paid to Lender under acceleration of the foregoing clause (A) Loan following an Event of this subsectionDefault). In furtherance of the foregoing, Borrower expressly acknowledges and agrees that (y) Lender shall have no obligation to accept any prepayment payment of the Loan unless and until Borrower shall have complied with this Section 2.7(d) also paid the Exit Fee, and (z) Lender shall have no obligation to release any Loan Document upon payment of the Debt unless and until Lender shall have received the entire Exit Fee. (ii) Borrower expressly acknowledges and agrees that the Exit Fee (A) shall constitute additional consideration for the Loan, (B) shall be in addition to and not offset by any other amounts due and payable hereunder (including, without limitation and to the extent applicable, the Prepayment Premium) and (iii) shall, upon payment, be the sole and exclusive property of Lender. (iii) . Notwithstanding the foregoing or anything herein to the contrary contained herein or contrary, the Exit Fee shall not be payable with respect to any Principal Payment included in any other Loan Documentsa Monthly Payment Amount. Notwithstanding the foregoing, no payment of the Exit Fee shall be payable waived in connection the event Borrower refinances the Loan with a repayment of the Loan by virtue of a refinancing of the Property provided that such refinancing is new permanent loan from ▇▇▇▇▇ Fargo Bank, N.A. (which may be provided by Citibank▇▇▇▇▇ Fargo Bank, N.A., in its sole discretion).

Exit Fee. (i) In Borrower agrees that in all events and under all circumstances (except as otherwise expressly set forth in this Section 2.7(d))circumstances, Borrower shall be obligated to pay to Lender ▇▇▇▇▇ Fargo Bank, N.A. an exit fee of an amount equal to one quarter of one percent (0.25%) of (a) the outstanding principal balance of the Loan or (b) in connection with a partial prepayment of the Loan, the principal amount of the Loan being prepaid (the “Exit Fee”) in an amount equal to 0.50% of the original principal amount of the Loan), which amount shall be payable as follows: upon (Ai) upon any (and each) partial prepayment of the Loan in accordance with the terms hereof, in addition to all other amounts payable to Lender hereunder, by Borrower shall pay to Lender, on account of the Exit Fee, an amount equal to 0.50% of the amount so prepaid and (Bii) upon repayment in full the earlier of (x) the Debt or the acceleration thereof in accordance with the terms of any payment by Borrower of the Loan Documentsin full, Borrower shall pay to Lender or (y) the entire Exit Fee which would be due on such date, less Maturity Date (or any amounts on account thereof previously paid to Lender under acceleration of the foregoing clause (A) Loan following an Event of this subsectionDefault). In furtherance of the foregoing, Borrower expressly acknowledges and agrees that (y) Lender shall have no obligation to accept any prepayment payment of the Loan unless and until Borrower shall have complied with this Section 2.7(d) also paid the Exit Fee, and (z) Lender shall have no obligation to release any Loan Document upon payment of the Debt unless and until Lender shall have received the entire Exit Fee. (ii) Borrower expressly acknowledges and agrees that the Exit Fee (A) shall constitute additional consideration for the Loan, (B) shall be in addition to and not offset by any other amounts due and payable hereunder (including, without limitation and to the extent applicable, the Prepayment Premium) and (iii) shall, upon payment, be the sole and exclusive property of Lender. (iii) . Notwithstanding the foregoing or anything herein to the contrary contained herein or in contrary, the Exit Fee shall not be payable with respect to any other reduction of the principal amount of the Loan Documentsas a result of the application of any Net Proceeds. Notwithstanding the foregoing, no payment of the Exit Fee shall be payable waived in connection the event Borrower refinances the Loan with a repayment of the Loan by virtue of a refinancing of the Property provided that such refinancing is new permanent loan from ▇▇▇▇▇ Fargo Bank, N.A. (which may be provided by Citibank▇▇▇▇▇ Fargo Bank, N.A., in its sole discretion).

Exit Fee. (i) In Borrower agrees that in all events and under all circumstances (except as otherwise expressly set forth in this Section 2.7(d))circumstances, Borrower shall be obligated to pay to Lender W▇▇▇▇ Fargo Bank, N.A. an exit fee of an amount equal to one quarter of one percent (0.25%) of the outstanding principal balance of the Loan or (b) in connection with a partial prepayment of the Loan, the principal amount of the Loan being prepaid (the “Exit Fee”) in an amount equal to 0.50% of the original principal amount of the Loan), which amount shall be payable as follows: upon (Ai) upon any (and each) partial prepayment of the Loan in accordance with the terms hereof, in addition to all other amounts payable to Lender hereunder, by Borrower shall pay to Lender, on account of the Exit Fee, an amount equal to 0.50% of the amount so prepaid and (Bii) upon repayment in full the earlier of (x) the Debt or the acceleration thereof in accordance with the terms of any payment by Borrower of the Loan Documentsin full, Borrower shall pay to Lender or (y) the entire Exit Fee which would be due on such date, less Maturity Date (or any amounts on account thereof previously paid to Lender under acceleration of the foregoing clause (A) Loan following an Event of this subsection. In Default).In furtherance of the foregoing, Borrower expressly acknowledges and agrees that (y) Lender shall have no obligation to accept any prepayment payment of the Loan unless and until Borrower shall have complied with this Section 2.7(d) also paid the Exit Fee, and (z) Lender shall have no obligation to release any Loan Document upon payment of the Debt unless and until Lender shall have received the entire Exit Fee. (ii) Borrower expressly acknowledges and agrees that the Exit Fee (A) shall constitute additional consideration for the Loan, (B) shall be in addition to and not offset by any other amounts due and payable hereunder (including, without limitation and to the extent applicable, the Prepayment Premium) and (iii) shall, upon payment, be the sole and exclusive property of Lender. (iii) . Notwithstanding the foregoing or anything herein to the contrary contained herein or contrary, the Exit Fee shall not be payable with respect to any Principal Payment included in any other Loan Documentsa Monthly Payment Amount. Notwithstanding the foregoing, no payment of the Exit Fee shall be payable waived in connection the event Borrower refinances the Loan with a repayment of the Loan by virtue of a refinancing of the Property provided that such refinancing is new permanent loan from W▇▇▇▇ Fargo Bank, N.A. (which may be provided by CitibankW▇▇▇▇ Fargo Bank, N.A., in its sole discretion).