Common use of Investment Liquidity Amounts Clause in Contracts

Investment Liquidity Amounts. Upon an Investment Liquidity Event and subject to Section 5.1(f), the General Partner shall cause the Partnership to distribute an amount to the Special Limited Partner in one or more distributions solely out of Net Sales Proceeds in redemption of the Special Limited Partner Interest (the “Investment Liquidity Promote”), equal to 15% of the amount, if any, by which (i) the sum of (A) the Market Value, plus (B) the sum of all Stockholder Distributions paid by the General Partner through the Investment Liquidity Date, exceeds (ii) the sum of (A) the Gross Proceeds raised in all Offerings through the Investment Liquidity Date (less amounts paid on or prior to the Investment Liquidity Date to purchase or redeem any shares of Common Stock purchased in an Offering pursuant to the General Partner’s share repurchase program) plus (B) the minimum amount of cash that, if distributed to those Stockholders who purchased shares of Common Stock in an Offering on or prior to the Investment Liquidity Date, would have provided such Stockholders a Priority Return on the Gross Proceeds raised in all Offerings through the Investment Liquidity Date, measured for the period from inception of the General Partner through the Investment Liquidity Date. The Investment Liquidity Promote will only be paid to the Special Limited Partner if the Advisory Agreement has not been terminated by the General Partner or the Advisor prior to the Investment Liquidity Event.

Investment Liquidity Amounts. Upon an Investment Liquidity Event and subject to Section 5.1(f), the General Partner shall cause the Partnership to distribute an amount to the Special Limited Partner and its assigns in one or more distributions solely out of Net Sales Proceeds in redemption of the Special Limited Partner Interest (the Interest(the “Investment Liquidity Promote”), equal to 15% of the amount, if any, by which (i) the sum of (A) the Market Value, plus (B) the sum of all Stockholder Distributions paid by the General Partner through the Investment Liquidity Date, exceeds (ii) the sum of (A) the Gross Proceeds raised in all Offerings through the Investment Liquidity Date (less amounts paid on or prior to the Investment Liquidity Date to purchase or redeem any shares of Common Stock purchased in an Offering pursuant to the General Partner’s share repurchase program) plus (B) the minimum total amount of cash that, if distributed to those Stockholders who purchased shares of Common Stock in an Offering on or prior to the Investment Liquidity Date, would have provided such Stockholders a Priority Return on the Gross Proceeds raised in all Offerings through the Investment Liquidity Date, measured for the period from inception of the General Partner through the Investment Liquidity Date. The Investment Liquidity Promote will only be paid to the Special Limited Partner if the Advisory Agreement has not been terminated by the General Partner or the Advisor prior to the Investment Liquidity Event.

Investment Liquidity Amounts. Upon an Investment Liquidity Event and subject to Section 5.1(f), the General Partner shall cause the Partnership to distribute an amount to the Special Limited Partner and its assigns in one or more distributions solely out of Net Sales Proceeds in redemption of the Special Limited Partner Interest (the Interest(the “Investment Liquidity Promote”), equal to 15% of the amount, if any, by which (i) the sum of (A) the Market Value, plus (B) the sum of all Stockholder Distributions paid by the General Partner through the Investment Liquidity Date, exceeds (ii) the sum of (A) the Gross Proceeds raised in all Offerings through the Investment Liquidity Date (less amounts paid on or prior to the Investment Liquidity Date to purchase or redeem any shares of Common Stock purchased in an Offering pursuant to the General Partner’s share repurchase program) plus (B) the minimum amount of cash that, if distributed to those Stockholders who purchased shares of Common Stock in an Offering on or prior to the Investment Liquidity Date, would have provided such Stockholders a Priority Return on the Gross Proceeds raised in all Offerings through the Investment Liquidity Date, measured for the period from inception of the General Partner through the Investment Liquidity Date. The Investment Liquidity Promote will only be paid to the Special Limited Partner if the Advisory Agreement has not been terminated by the General Partner or the Advisor prior to the Investment Liquidity Event.