Common use of Subordinated Incentive Listing Fee Clause in Contracts

Subordinated Incentive Listing Fee. Upon Listing of the Shares, the Company shall pay the Advisor or its assignees a Subordinated Incentive Listing Fee in the form of a promissory note equal to fifteen percent (15%) of the amount, if any, by which (i) the market value of the outstanding Shares plus Distributions paid by the Company prior to Listing, exceeds (ii) the sum of the total amount of capital raised from investors in Shares and the amount of cash flow necessary to generate an annual six percent (6%) cumulative, non-compounded return to such investors. The promissory note shall be repaid from the net sales proceeds of each Sale of an Investment that occurs after the date of the Listing. At the time of each such Sale, the Company may pay at its discretion all or a portion of such promissory note in Shares, which may or may not be registered under the Securities Act, or cash.

Subordinated Incentive Listing Fee. Upon Listing of the Shares, the Company shall pay the Advisor or its assignees a Subordinated Incentive Listing Fee in the form of a an interest bearing promissory note equal to fifteen percent (15%) of the amount, if any, by which (i) the market value of the outstanding Shares plus Distributions paid by the Company prior to Listing, exceeds (ii) the sum of the total amount of capital raised from investors in Shares and the amount of cash flow necessary to generate an annual a six percent (6%) annual cumulative, non-compounded return to such investors. The interest bearing promissory note shall be repaid from the net sales proceeds of each Sale of an Investment that occurs after the date of the Listing. At the time of each such Sale, the Company may pay at its discretion all or a portion of such promissory note in Shares, which may or may not be registered under the Securities Act, or cash.

Subordinated Incentive Listing Fee. Upon Listing of the Shares, the Company shall pay the Advisor Associate Limited Partner or its assignees a Subordinated Incentive Listing Fee in the form of a an interest bearing promissory note equal to fifteen ten percent (1510%) of the amount, if any, by which (i) the market value of the outstanding Shares plus Distributions paid by the Company prior to Listing, exceeds (ii) the sum of the total amount of capital raised from investors in Shares and the amount of cash flow necessary to generate an annual six eight percent (68%) annual cumulative, non-compounded return to such investors. The interest bearing promissory note shall be repaid from the net sales proceeds of each Sale of an Investment that occurs after the date of the Listing. At the time of each such Sale, the Company may pay at its discretion all or a portion of such promissory note in Shares, which may or may not be registered under the Securities Act, or cash.

Subordinated Incentive Listing Fee. Upon Listing of the Shares, the Company shall pay the Advisor or its assignees a Subordinated Incentive Listing Fee in the form of a an interest -bearing promissory note equal to fifteen percent (15%) of the amount, if any, by which (i) the market value of the outstanding Shares plus Distributions paid by the Company prior to Listing, exceeds (ii) the sum of the total amount of capital raised from investors in Shares and the amount of cash flow necessary to generate an annual six percent (6%) cumulative, non-compounded return to such investors. The interest -bearing promissory note shall be repaid from the net sales proceeds of each Sale of an Investment that occurs after the date of the Listing. At the time of each such Sale, the Company may pay at its discretion all or a portion of such promissory note in Shares, which may or may not be registered under the Securities Act, or cash.