Upon Approved Transfer of Property to Market Purchaser Sample Clauses

Upon Approved Transfer of Property to Market Purchaser. If the Owner transfers the Property at an unrestricted price pursuant to Section 5.8 above, then City shall be entitled to receive from Owner one hundred percent (100%) of the difference between the gross sales proceeds received by the Owner from the new Market Purchaser and the Adjusted Resale Price for the Property (in the amount that was stated in the City Notice of Consent to Transfer), less the differential between the reasonable and customary real estate commissions paid (such commissions not to exceed six percent (6%) of the actual sales price) versus the commission that would have been paid at the Adjusted Resale Price, and less the differential between the applicable transfer taxes owed based on the actual sales price versus what would have been paid based on the Adjusted Resale Price.