Share Purchase Commitment. In the event of a Distribution Shortfall for any calendar quarter during the Term, NRFC shall purchase Shares from the Company in an amount equal to the Distribution Shortfall; provided, however, that NRFC shall not be obligated to purchase Shares for any quarter in which AFFO for such quarter exceeds the Threshold Amount and further provided, that NRFC’s obligation to purchase Shares pursuant to this Agreement shall be limited to an aggregate of $10,000,000 in purchase amount. Any Shares purchased by NRFC pursuant to this Section 2 shall be purchased pursuant to the Offering and at the Purchase Price in effect as of the date of purchase of the Shares.
Share Purchase Commitment. In the event of a Distribution Shortfall for any calendar quarter during the Term, the Sponsor shall purchase Class I Shares from the Company in an aggregate amount equal to the Distribution Shortfall; provided, however, that the Sponsor’s obligation to purchase Class I Shares pursuant to this Agreement, shall be limited to an aggregate of $5,000,000 (when aggregated with any Shares the Sponsor or its Affiliates purchased in order to satisfy the minimum offering requirements set forth in the Prospectus). Any Class I Shares purchased by the Sponsor pursuant to this Section 2 shall be purchased pursuant to the Offering and at the Purchase Price in effect as of the date of purchase of the Class I Share.
Share Purchase Commitment. In the event of a Distribution Shortfall for any calendar quarter during the Term, LP shall purchase Shares from the Company in an amount no less than the Distribution Shortfall; provided, however, that LP shall not be obligated to purchase Shares for any quarter in which AFFO for such quarter exceeds the Threshold Amount and further provided, that LP’s obligation to purchase Shares pursuant to this Agreement shall be limited to an aggregate of $1,000,000 in purchase amount. Any Shares purchased by LP pursuant to this Section 2 shall be purchased pursuant to the Offering and at the Purchase Price in effect as of the date of purchase of the Shares.
Share Purchase Commitment. In the event of a Distribution Shortfall for any calendar quarter during the Term, NRFC and RXR shall purchase Class A Shares from the Company in an aggregate amount equal to the Distribution Shortfall, with NRFC and RXR purchasing 75% and 25%, respectively, of any Class A Shares required to be purchased; provided, however, that NRFC and RXR shall not be obligated to purchase Class A Shares for any quarter in which MFFO for such quarter exceeds the Threshold Amount and further provided, that NRFC’s and RXR’s obligation to purchase Class A Shares pursuant to this Agreement, shall be limited to an aggregate of $10,000,000 in purchase amount (when aggregated with any Shares NRFC and RXR or their Affiliates purchased in order to satisfy the minimum Offering requirements set forth in the Prospectus). Any Class A Shares purchased by NRFC and RXR pursuant to this Section 2 shall be purchased pursuant to the Offering and at the Purchase Price in effect as of the date of purchase of the Class A Shares.
Share Purchase Commitment. In the event of a Distribution Shortfall for any calendar quarter during the Term, NRFC shall purchase Shares from the Company in an amount equal to the Distribution Shortfall; provided, however, that NRFC shall not be obligated to purchase Shares for any quarter in which MFFO for such quarter exceeds the Threshold Amount and further provided, that NRFC’s obligation to purchase Shares pursuant to this Agreement shall be limited to an aggregate of $10,000,000 in purchase amount (including any contributions made by NRFC and its subsidiaries to the Company to satisfy the minimum Initial Offering amount of $2,000,000). Any Shares purchased by NRFC pursuant to this Section 2 shall be purchased pursuant to the Follow-On Offering and at the Purchase Price in effect as of the date of purchase of the Shares. As of the date of this Agreement, NRFC’s remaining commitment to purchase Shares under this Agreement, after taking into account NRFC’s initial $2,000,007 purchase of Shares to satisfy the minimum Offering amount and NRFC’s subsequent purchase of 81,025 Shares for an aggregate purchase price of $729,225 for prior Distribution Shortfalls, is limited to $7,270,768.
Share Purchase Commitment. In the event of a Distribution Shortfall for any month during the Term, NSAM FV shall purchase, either directly or through one or more of its Affiliates, Shares from the Master Fund in an aggregate amount equal to the Distribution Shortfall; provided, however, that NSAM FV shall not be obligated to purchase Shares for any month in which NII for such month exceeds the Threshold Amount, and further provided that NSAM FV’s obligation to purchase Shares pursuant to this Agreement shall be limited to an aggregate of $10,000,000 in purchase amount (when aggregated with any Shares purchased by NSAM FV or any of its Affiliates as the Seed Capital Investment). Any Shares purchased by NSAM FV pursuant to this Section 2 shall be purchased at NAV as of the date of purchase of the Shares.
Share Purchase Commitment. In the event of a Distribution Shortfall for any calendar quarter during the Term, NRFC shall purchase Shares from the Company in an amount equal to the Distribution Shortfall; provided, however, that NRFC shall not be obligated to purchase Shares for any quarter in which MFFO for such quarter exceeds the Threshold Amount and further provided, that NRFC’s obligation to purchase Shares pursuant to this Agreement, shall be limited to an aggregate of $10,000,000 in purchase amount (when aggregated with any Shares NRFC or its Affiliates purchased in order to satisfy the minimum Offering requirements set forth in the Prospectus). Any Shares purchased by NRFC pursuant to this Section 2 shall be purchased pursuant to the Offering and at the Purchase Price in effect as of the date of purchase of the Shares.
Share Purchase Commitment. In the event of a Distribution Shortfall for any calendar month during the Term, NRFC and OZCI shall purchase Shares from the Master Fund in an aggregate amount equal to the Distribution Shortfall, with NRFC and OZCI each purchasing 50% of any Shares required to be purchased; provided, however, that neither NRFC nor OZCI shall be obligated to purchase Shares for any month in which NII for such month exceeds the Threshold Amount, and further provided that NRFC’s and OZCI’s obligation to purchase Shares pursuant to this Agreement shall be limited to an aggregate of $10,000,000 in purchase amount (when aggregated with any Shares NRFC and OZCI or their Affiliates purchased as Seed Investments). Any Shares purchased by NRFC or OZCI pursuant to this Section 2 shall be purchased at NAV as of the date of purchase of the Master Fund Shares.
Share Purchase Commitment. In the event of a Distribution Shortfall for any calendar quarter during the Term, NRFC shall purchase Class A Shares from the Company in an amount equal to the Distribution Shortfall; provided, however, that NRFC shall not be obligated to purchase Class A Shares for any quarter in which MFFO for such quarter exceeds the Threshold Amount and further provided, that NRFC’s obligation to purchase Class A Shares pursuant to this Agreement shall be limited to an aggregate of $10,000,000 in Class A Shares (including amounts purchased to satisfy the minimum Offering amount). NRFC’s remaining commitment to purchase Class A Shares under this Agreement shall be limited to an aggregate of $6,106,279 after reductions for (a) NRFC’s initial $2,000,007 purchase of Class A Shares to satisfy the minimum Offering amount and (b) NRFC’s subsequent purchase of 210,413 Class A Shares for an aggregate purchase price of $1,893,714 to fund prior Distribution Shortfalls. Any Class A Shares purchased by NRFC pursuant to this Section 2 shall be purchased pursuant to the Offering and at the Purchase Price in effect as of the date of purchase of the Class A Shares.
Share Purchase Commitment. In the event of a Distribution Shortfall for any month during the Term, NorthStar Realty shall purchase Shares from the Master Fund in an aggregate amount equal to the Distribution Shortfall; provided, however, that NorthStar Realty shall not be obligated to purchase Shares for any month in which NII for such month exceeds the Threshold Amount, and further provided that NorthStar Realty’s obligation to purchase Shares pursuant to this Agreement shall be limited to an aggregate of $10,000,000 in purchase amount (when aggregated with any Shares purchased by NorthStar Realty or any of its Affiliates as the Seed Capital Investment). Any Shares purchased by NorthStar Realty pursuant to this Section 2 shall be purchased at NAV as of the date of purchase of the Shares.
