Common use of Net Proceeds From Refinancings, Sales and Assignments Clause in Contracts

Net Proceeds From Refinancings, Sales and Assignments. In addition to the Annual Base Rent and other amounts payable by Tenant hereunder, Landlord shall receive from Tenant: 4.8.1 Three percent (3%) of the net proceeds (after repayment of the then- existing debt and subtraction from gross proceeds of all reasonable costs of refinancing) from the Tenant’s initial refinancing and subsequent refinancing of existing debt on the Improvements or Tenant’s interest in the Lease. Refinancings shall be subject to the terms and conditions of Article XIV; and 4.8.2 Three percent (3%) of net proceeds (after repayment of the then-existing debt and subtraction from gross proceeds of all reasonable costs of sale or assignment) from the Tenant’s sale or assignment of the Improvements and Tenant’s interest in this Lease. Sales and Assignments shall be subject to the requirements of Article XII. 4.8.3 In the event that the Improvements are constructed for all cash with no financing, then in making the foregoing calculations of net proceeds, in lieu of subtracting from the gross proceeds of sale, assignment or financing the amount of the then-existing debt, and in addition to subtracting therefrom the reasonable costs of sale, assignment or financing, the parties shall subtract from the gross proceeds the “all-in” documented (to the reasonable satisfaction of Landlord) hard and soft costs of the initial construction of the Improvements.

Net Proceeds From Refinancings, Sales and Assignments. In addition to the Annual Base Rent and other amounts payable by Tenant hereunder, Landlord shall receive from Tenant: 4.8.1 4.9.1 Three percent (3%) of the net proceeds (after repayment of the then- existing debt and subtraction from gross proceeds of all reasonable costs of refinancing) from the Tenant’s initial refinancing and subsequent refinancing of existing debt on the Improvements or Tenant’s interest in the Lease. Refinancings shall be subject to the terms and conditions of Article XIV; and 4.8.2 4.9.2 Three percent (3%) of net proceeds (after repayment of the then-existing debt and subtraction from gross proceeds of all reasonable costs of sale or assignment) from the Tenant’s sale or assignment of the Improvements and Tenant’s interest in this Lease. Sales and Assignments shall be subject to the requirements of Article XII. 4.8.3 4.9.3 In the event that the Improvements are constructed for all cash with no financing, then in making the foregoing calculations of net proceeds, in lieu of subtracting from the gross proceeds of sale, assignment or financing the amount of the then-existing debt, and in addition to subtracting therefrom the reasonable costs of sale, assignment or financing, the parties shall subtract from the gross proceeds the “all-in” documented (to the reasonable satisfaction of Landlord) hard and soft costs of the initial construction of the Improvements.