Second Modification Fee Sample Clauses

Second Modification Fee. A second modification fee in the total amount of 1.5% of the then outstanding principal balance of the Loan as of the First Performance Date (the “Second Modification Fee”) shall be deemed earned by Lender and due to Lender on the First Performance Date and payable simultaneously with each Property Release after the First Performance Date. At the time of each such Property Release, Borrower shall pay a portion of the Second Modification Fee at the amount of 1% of the Net Sale Proceeds. To the extent that the Second Modification Fee has not been paid in full from Property Releases by July 1, 2018 (the “Second Performance Date”) and provided there has been no Event of Default after the First Performance Date, such failure shall not constitute an Event of Default and Borrower shall pay the remaining unpaid balance of the Second Modification Fee from Property Releases after the Second Performance Date. Upon any Event of Default after the First Performance Date, the remaining unpaid balance of the Second Modification Fee shall be payable in full. Borrower acknowledges and agrees that the Second Modification Fee shall be deemed earned by Lender and due to Lender on the First Performance Date, notwithstanding the date(s) upon which Borrower is to pay the Second Modification Fee and the date upon which Borrower ultimately pays the Indebtedness, and shall not be applied by Lender at any time to reduce the Indebtedness.
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Related to Second Modification Fee

  • Modification Fee In consideration of the Lenders amending the Loan Agreement as provided herein, each Borrower jointly and severally agrees to pay to the Agent for the account of each Lender approving this Amendment (which approval is evidenced by its signature below) a modification fee in an amount equal to one-half of one percent (0.50%) of such Lender’s Commitment.

  • Amendment; Modification; Waiver This Agreement shall not be amended, nor shall any provision of this Agreement be considered modified or waived, unless evidenced by a writing signed by the parties hereto, and in compliance with applicable provisions of the Investment Company Act.

  • Amendment and Modification; Waiver This Agreement may only be amended, modified or supplemented by an agreement in writing signed by each party hereto. No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in writing and signed by the party so waiving. No waiver by any party shall operate or be construed as a waiver in respect of any failure, breach or default not expressly identified by such written waiver, whether of a similar or different character, and whether occurring before or after that waiver. No failure to exercise, or delay in exercising, any right, remedy, power or privilege arising from this Agreement shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

  • Waiver and Modification Any waiver, alteration, or modification of any of the provisions of this Agreement shall be valid only if made in writing and signed by the parties hereto. Each party hereto, may waive any of its rights hereunder without affecting a waiver with respect to any subsequent occurrences or transactions hereof.

  • Amendment; Modification No supplement, modification, or amendment of this Agreement shall be binding unless executed in writing and signed by both Parties.