Capital Gains Bonus Fee. (a) Upon occurrence of any Capital Gains Bonus Event, if the Capital Gains Bonus Fee Conditions are satisfied, then the Hotel Manager is entitled to receive the Capital Gains Bonus Fee, being an amount calculated as follows: A = (B - C - D ) x E where: A is the amount of the amount of the Capital Gains Bonus Fee; B is the Net Sales Price; C is the Purchase Price; D is Net Capital Expenditure; and E is 15%.
(b) The Capital Gains Bonus Fee is payable by the Landowner. The fee is calculated and payable within 30 days of completion of the Capital Gains Bonus Event.
(c) The Hotel Manager’s entitlement to the Capital Gains Bonus Fee is conditional upon the following criteria being satisfied:
(i) The calculation of the Capital Gains Bonus Fee results in a positive number.
(ii) The Hotel Manager not being in breach of this Agreement.
(d) For the purposes of Item 3 of this Schedule 2, the following terms are defined: “Capital Gains Bonus Event” means the sale or other disposition of the Property by the Landowner.
