Common use of Payment of the Unused Fee and interest Clause in Contracts

Payment of the Unused Fee and interest. The Issuer shall pay to the Subscriber an amount equal to 115% of the sum of the accrued Unused Fee and all interest accrued thereon and compounded therewith in accordance with Clause 5.2.1: (i) within five business days of the expiration of the five business day period referred to in Clause 5.2.3 if no Objection Notice has been notified by the Subscriber during this period; or (ii) within five business days of the determination of these fees by mutual consent of the Parties if an Objection Notice has been notified within the five business day period referred to in Clause 5.2.3.

Appears in 2 contracts

Sources: Subscription Agreement (Shurgard Storage Centers Inc), Subscription Agreement (Shurgard Storage Centers Inc)