Common use of Property Disposition Fee Clause in Contracts

Property Disposition Fee. In connection with a Sale of a Real Estate Asset in which the Advisor or any Affiliate of the Advisor provides a substantial amount of services, as determined by the Independent Directors, the Company shall pay to the Advisor or its assignees a Property Disposition Fee equal to the lesser of (i) two percent (2.0%) of the Contract Sales Price of such Real Estate Asset and (ii) one-half of the total brokerage commission paid if a brokerage commission or other disposition fee is paid to a non-Affiliate broker in addition to the Property Disposition Fee paid to the Advisor or its assignees; provided, however, that in no event may the Property Disposition Fee paid to the Advisor, its Affiliates and non-Affiliates exceed the lesser of six percent (6.0%) of the Contract Sales Price and a Competitive Real Estate Commission.

Property Disposition Fee. In connection with a Sale of a Real Estate Asset in which the Advisor or any Affiliate of the Advisor provides a substantial amount of services, as determined by the Independent Directors, the Company shall pay to the Advisor or its assignees a Property Disposition Fee equal up to the lesser of (i) two percent (2.0%) of the Contract Sales Price of such Real Estate Asset and or (ii) one-half of the total brokerage commission paid if a brokerage commission or other disposition fee is paid to a non-Affiliate broker in addition to the Property Disposition Fee paid to the Advisor or its assignees; provided, however, that in no event may the Property Disposition Fee paid to the Advisor, its Affiliates and non-Affiliates exceed the lesser of six percent (6.0%) of the Contract Sales Price and a Competitive Real Estate Commission.