Common use of Disbursement of Net Proceeds Clause in Contracts

Disbursement of Net Proceeds. Each month, Xxxxxx will disburse to Owner any net proceeds, in excess of that amount deemed necessary by Broker to pay The Expenses and Broker will provide a detailed statement of all receipts and disbursements. Any disbursement and the statement will be mailed to address listed below or funds may be deposited electronically if Xxxxxx is provided written authorization. In the event disbursements are in excess of rents collected, Owner agrees to pay such excess upon demand and understands that Broker may terminate this Agreement if the excess is not promptly paid.

Disbursement of Net Proceeds. Each month, Xxxxxx Broker will disburse to Owner any net proceeds, in excess of that amount deemed necessary by Broker to pay The Expenses and Broker will provide a detailed statement of all receipts and disbursements. Any disbursement and the statement will be mailed to address listed below or funds may be deposited electronically if Xxxxxx Broker is provided written authorization. In the event disbursements are in excess of rents collected, Owner agrees to pay such excess upon demand and understands that Broker may terminate this Agreement if the excess is not promptly paid.