Common use of Property Disposition Fee Clause in Contracts

Property Disposition Fee. In connection with a Sale of one or more Properties in which the Advisor provides a substantial amount of services, as determined by the Independent Directors, the Company shall pay to the Advisor a Property Disposition Fee up to the lesser of (i) two percent (2.0%) of the Contract Sales Price of such Property and (ii) one-half (½) of the Competitive Real Estate Commission paid if a non-Affiliate is also involved; provided, however, that in no event may the Property Disposition Fee, when added to all other real estate commissions paid to non-affiliates of the Advisor in connection with such Sale, 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 one or more Properties 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 up to the lesser of (i) two percent (2.0%) of the Contract Sales Price of such Property and Real Estate Asset or (ii) one-half (½) of the Competitive Real Estate Commission paid if a non-Affiliate broker is also involved; provided, however, that in no event may the Property Disposition Fee, when added to all other real estate commissions Fee paid to the Advisor, its Affiliates and non-affiliates of the Advisor in connection with such Sale, Affiliates exceed the lesser of six percent (6.0%) 4.5% of the Contract Sales Price and a Competitive Real Estate Commission.