Common use of Disbursement of Net Proceeds Clause in Contracts

Disbursement of Net Proceeds. Each month, Broker will remit any net proceeds, in excess of that amount deemed necessary by Broker to meet operational expenses and provide a detailed statement of receipts, disbursements and charges. Such remittance, shall be made payable to Owner and mailed to address listed below or deposited electronically via separate authorization. In the event disbursements are in excess of rents collected, Owner agrees to pay such excess promptly upon demand and understands that Broker may terminate this agreement if the excess is not paid.

Disbursement of Net Proceeds. Each month, Broker Xxxxxx will remit any net proceeds, in excess of that amount deemed necessary by Broker to meet operational expenses and provide a detailed statement of receipts, disbursements and charges. Such remittance, shall be made payable to Owner and mailed to address listed below or deposited electronically via separate authorization. In the event disbursements are in excess of rents collected, Owner agrees to pay such excess promptly upon demand and understands that Broker may terminate this agreement if the excess is not paid.