Subordinated Participation in Net Sales Proceeds. The Subordinated Participation in Net Sales Proceeds shall be payable to the Advisor in an amount equal to 15.0% of Net Sales Proceeds remaining after the Stockholders have received Distributions equal to the sum of the Stockholders’ 6.0% Return and 100% of Invested Capital. The Company shall have the option to pay such fee in the form of cash, Shares, a promissory note, or any combination of the foregoing. In no event will the Company pay a Subordinated Participation in Net Sales Proceeds, including any interest payable in connection with any promissory note issued by the Company in payment of the Subordinated Participation in Net Sales Proceeds, in excess of the amount that would be presumptively reasonable under Section 8.7 of the Articles of Incorporation.
Appears in 5 contracts
Samples: Advisory Agreement (NexPoint Hospitality Trust, Inc.), Advisory Agreement (Nexpoint Multifamily Realty Trust, Inc.), Advisory Agreement (Nexpoint Multifamily Realty Trust, Inc.)
