Common use of Disposition Fees Clause in Contracts

Disposition Fees. If the Advisor or any of its Affiliates provide a substantial amount of services, and based on the services, as determined by the Independent Directors, in connection with a Sale (except for the Sale of any Securities that are traded on a national securities exchange), the Advisor or such Affiliate shall receive a Disposition Fee in an amount of up to 1.0% of the Contract Sales Price of each Loan, Security or Property sold. The Advisor shall also receive a Disposition Fee upon the maturity, prepayment, workout, modification or extension of a Loan or other debt-related investment if there is a corresponding fee paid by the borrower to the Company, in which event the Advisor shall receive the lesser of (i) 1.0% of the principal amount of the Loan or debt-related investment prior to such transaction or (ii) the amount of the fee paid by the borrower to the Company in connection with such transaction. The payment of any Disposition Fees by the Company shall be subject to the limitations contained in the Company’s Charter. The Advisor shall submit an invoice to the Company following the closing or closings of each disposition, accompanied by a computation of the Disposition Fee. Generally, the Disposition Fee payable to the Advisor shall be paid at the closing of the transaction upon receipt of the invoice by the Company; provided, however, that such Disposition Fee shall be paid to an Affiliate of the Advisor that is registered as a FINRA member broker-dealer if applicable laws or regulations prohibit such payment to be made to a Person that is not a FINRA member broker-dealer. However, payment of the Disposition Fee may be deferred or waived (or accepted in Shares), in whole or in part, as to any transaction in the sole discretion of the Advisor. Any such deferred or waived Disposition Fees shall be paid to the Advisor or its Affiliates without interest at such subsequent date as the Advisor shall request.

Disposition Fees. If the Advisor Entities or any of its their Affiliates provide a substantial amount of services, and based on the services, as determined by the Independent Directors, in connection with a Sale (except for the Sale of any Securities that are traded on a national securities exchange), partial Sale or syndication, the Advisor Entities or such Affiliate shall receive a Disposition Fee in an amount of up to 2.0% of the Contract Sales Price of each Property sold and 1.0% of the Contract Sales Price of each Loan, Loan or Security or Property sold. The Advisor shall also receive a Disposition Fee upon the maturity, prepayment, workout, modification or extension of a Loan or other debt-related investment if there is a corresponding fee paid by the borrower to the Company, in which event the Advisor Entities shall receive the lesser of (i) 1.0% of the principal amount of the Loan or debt-related investment prior to such transaction or (ii) the amount of the fee paid by the borrower to the Company in connection with such transaction. The payment of any Disposition Fees by the Company shall be subject to the limitations contained in the Company’s Charter. The Advisor shall submit an invoice to the Company following the closing or closings of each disposition, accompanied by a computation of the Disposition Fee. Generally, the Disposition Fee payable to the Advisor Entities shall be paid at the closing of the transaction upon receipt of the invoice by the Company; provided, however, that such Disposition Fee shall be paid to an Affiliate of the Advisor that is registered as a FINRA member broker-dealer if applicable laws or regulations prohibit such payment to be made to a Person that is not a FINRA member broker-dealer. However, payment of the Disposition Fee may be deferred or waived (or accepted in Shares), in whole or in part, as to any transaction in the sole discretion of the Advisor. Any such deferred or waived Disposition Fees shall be paid to the Advisor Entities or its their Affiliates without interest at such subsequent date as the Advisor shall requestrequest or in accordance with the terms of the waiver or deferral, as the case may be.

Disposition Fees. If the Advisor or any of its Affiliates provide a substantial amount of services, and based on the services, services (as determined by the Independent Directors, ) in connection with a Sale (except for the Sale of any Securities that are traded on a national securities exchange)Sale, the Advisor or such Affiliate shall receive a fee at the closing (the “Disposition Fee in an amount Fee”) equal to the lesser of up (i) (A) one-half of the aggregate brokerage commission paid, including brokerage commissions payable to 1.0third parties or (B) if no brokerage commission is paid to any third party, the Competitive Brokerage Commission or (ii) 2.0% of the Contract Sales Price of each Loan, Security or Property soldPrice. The Advisor shall also receive Company will not pay a Disposition Fee upon the maturity, prepaymentprepayment or workout of a loan or other real estate-related debt investment; however, if the Company takes ownership of a property as a result of a workout or foreclosure of a loan or the Company provides substantial assistance during the course of a workout, modification the Company will pay a Disposition Fee upon the sale of such property or extension disposition of a Loan such loan or other debtreal estate-related investment if there is a corresponding fee paid by the borrower to the Company, in which event the Advisor shall receive the lesser of (i) 1.0% of the principal amount of the Loan or debt-related investment prior to such transaction or (ii) the amount of the fee paid by the borrower to the Company in connection with such transactiondebt investment. The payment of any Disposition Fees by the Company shall be subject to the limitations contained in the Company’s Charter. Any Disposition Fee payable under this Section 8.03 may be paid in addition to commissions paid to non-Affiliates, provided that the total commissions (including such Disposition Fee) paid to all Persons by the Company for each Sale shall not exceed an amount equal to the lesser of (i) 6% of the aggregate Contract Sales Price of each Property, Loan or other Permitted Investment or (ii) the Competitive Brokerage Commission for each Property, Loan or other Permitted Investment. The Advisor shall submit an invoice to the Company following the closing or closings of each disposition, accompanied by a computation of the Disposition Fee. Generally, the Disposition Fee payable to the Advisor shall be paid at the closing of the transaction upon receipt of the invoice by the Company; provided, however, that such Disposition Fee shall be paid to an Affiliate of the Advisor that is registered as a FINRA member broker-dealer if applicable laws or regulations prohibit such payment to be made to a Person that is not a FINRA member broker-dealer. However, payment of the Disposition Fee may or may not be deferred or waived (or accepted in Shares)taken, in whole or in part, as to any transaction year in the sole discretion of the Advisor. Any such deferred All or waived any portion of the Disposition Fees not taken as to any fiscal year shall be paid to the Advisor or its Affiliates deferred without interest at and may be paid in such subsequent date other fiscal year as the Advisor shall requestdetermine.

Disposition Fees. If the Advisor or any of its Affiliates provide a substantial amount of services, and based on the services, services (as determined by the Independent Directors, ) in connection with a Sale (except for the Sale of any Securities that are traded on a national securities exchange), the Advisor or such Affiliate shall receive a Disposition Fee in an amount of up to 1.0% of the Contract Sales Price of each Loan, Security or Property Asset sold. The Advisor shall also receive a Disposition Fee upon the maturity, prepayment, workout, modification or extension of a Loan or other debt-related investment if there is a corresponding fee paid by the borrower to the Company, in which event the Advisor shall receive the lesser of (i) 1.0% of the principal amount of the Loan loan or debt-related investment prior to such transaction or (ii) the amount of the fee paid by the borrower to the Company in connection with such transaction. The payment of any Disposition Fees by the Company shall be subject to the limitations contained in the Company’s Charter. The Advisor shall submit an invoice to the Company following the closing or closings of each disposition, accompanied by a computation of the Disposition Fee. Generally, the Disposition Fee payable to the Advisor shall be paid at the closing of the transaction upon receipt of the invoice by the Company; provided, however, that such Disposition Fee shall be paid to an Affiliate of the Advisor that is registered as a FINRA member broker-dealer if applicable laws or regulations prohibit such payment to be made to a Person that is not a FINRA member broker-dealer. However, payment of the Disposition Fee may be deferred or waived (or accepted in Shares)deferred, in whole or in part, as to any transaction in the sole discretion of the Advisor. Any such deferred or waived Disposition Fees shall be paid to the Advisor or its Affiliates without interest at such subsequent date as the Advisor shall request.

Disposition Fees. If the Advisor or any of its Affiliates provide a substantial amount of services, and based on the services, services (as determined by the Independent Directors, Conflicts Committee) in connection with a Sale (except for the Sale of any Securities that are traded on a national securities exchange)Sale, the Advisor or such Affiliate shall receive a fee at the closing (the “Disposition Fee in an amount of up Fee”) equal to 1.01% of the Contract Sales Price of each LoanPrice; provided, Security or Property sold. The Advisor shall also receive a however, that no Disposition Fee upon the maturity, prepayment, workout, modification or extension of a Loan or other debt-related investment if there is a corresponding fee paid by the borrower shall be payable to the CompanyAdvisor for any Sale if such Sale involves the Company selling all or substantially all of its assets in one or more transactions designed to effectuate a business combination transaction (as opposed to a Company liquidation, in which event case the Disposition Fee would be payable if the Advisor shall receive the lesser of (i) 1.0% of the principal or an Affiliate provides a substantial amount of the Loan or debt-related investment prior to such transaction or (ii) the amount of the fee paid by the borrower to the Company in connection with such transactionservices as provided above). The payment of any Disposition Fees by the Company shall be subject to the limitations contained in the Company’s Charter. Any Disposition Fee payable under this Section 8.03 may be paid in addition to commissions paid to non-Affiliates, provided that the total commissions (including such Disposition Fee) paid to all Persons by the Company for each Sale shall not exceed an amount equal to the lesser of (i) 6% of the aggregate Contract Sales Price of each Property, Loan or other Permitted Investment or (ii) the Competitive Real Estate Commission for each Property, Loan or other Permitted Investment. The Advisor shall submit an invoice to the Company following the closing or closings of each disposition, accompanied by a computation of the Disposition Fee. Generally, the Disposition Fee payable to the Advisor shall be paid at the closing of the transaction upon receipt of the invoice by the Company; provided, however, that such Disposition Fee shall be paid to an Affiliate of the Advisor that is registered as a FINRA member broker-dealer if applicable laws or regulations prohibit such payment to be made to a Person that is not a FINRA member broker-dealer. However, payment of the Disposition Fee may or may not be deferred or waived (or accepted in Shares)taken, in whole or in part, as to any transaction year in the sole discretion of the Advisor. Any such deferred All or waived any portion of the Disposition Fees not taken as to any fiscal year shall be paid to the Advisor or its Affiliates deferred without interest at and may be paid in such subsequent date other fiscal year as the Advisor shall requestdetermine.