Limitation on Recapture. Notwithstanding anything to the contrary herein, if the Recapture Amount becomes due as a result of the sale or transfer of the Property (whether involuntary or voluntary), the Recapture Amount shall be paid only from (and to the extent of) net proceeds available upon such sale or transfer. For these purposes, “net proceeds” shall mean the sales price of the Property minus any repayment of a loan senior in priority to this Loan and any reasonable or customary closing costs of the sale of the Property.
Appears in 4 contracts
Samples: Purchase Dpcca Regulatory Agreement, Purchase Dpcca Regulatory Agreement, Purchase Dpcca Regulatory Agreement
