Conference Center Fee Sample Clauses

Conference Center Fee. “Conference Center Fee” shall mean an amount, for each Horizontal Development, equal to six percent (6.0%) of the following: the gross sales price actually received by the Company for each lot or townhome site actually sold by the Company, minus real estate commissions, title insurance premiums, transfer fees, recording costs, transaction legal fees, and other closing costs incurred by the Company in closing the sale of a lot or townhome site. If the Project Land is sold to ▇▇▇ ▇▇▇▇▇▇ Development Co., the gross sales price shall include the amounts received by the Company under the Additional Consideration Agreement between the Company and ▇▇▇ ▇▇▇▇▇▇ Development Co. 1.26