Common use of Value Appreciation Rent Clause in Contracts

Value Appreciation Rent. In the event of a Tenant Ownership Change or a Financing Event, Tenant shall pay to District Value Appreciation Rent as described herein. For a Tenant Ownership Change, the Value Appreciation Rent shall be the greater of (a) the lesser of (i) the Net Transfer Proceeds, or (ii) four percent (4%) of the Gross Transfer Proceeds, or (b) fourteen percent (14%) of Net Transfer Proceeds. For a Financing Event, Tenant shall pay District fourteen percent (14%) of the Net Refinancing Proceeds. Before any Tenant Ownership Change or Financing Event for which Value Appreciation Rent may be due, Tenant shall provide District with its detailed calculation of the Value Appreciation Rent. No Tenant Ownership Change or Financing Event shall occur until agreement is reached on the calculation of Value Appreciation Rent; provided, however, that such Tenant Ownership Change or Financing Event shall be permitted to occur without such agreement as long as District and Tenant make mutually acceptable arrangements for the preservation of any additional Value Appreciation Rent plus interest at the Interest Rate that might be due to District over and above that reflected in the Tenant’s calculation should any such dispute be resolved in favor of District. Value Appreciation Rent shall be due and payable concurrently with the Tenant Ownership Change or Financing Event giving rise to the obligation to pay Value Appreciation Rent (or, with respect to any disputed amount, on resolution of the dispute) and, in the situation of a Tenant Ownership Change, shall be the joint and several obligation of the transferee and transferor.

Value Appreciation Rent. In the event of a Tenant Ownership Change or a Financing Event, Tenant shall pay to District County, concurrent with the closing of such transaction, an amount (“Value Appreciation Rent as described herein. For a Tenant Ownership Change, the Value Appreciation Rent Rent”) that shall be the greater of (a) the lesser of (i) the Net Transfer Proceeds, or (ii) four ii)‌ percent (4( %) of the Gross Transfer Proceeds, or (b) fourteen percent (14( %) of Net Transfer Proceeds. For a Financing Event, Tenant shall pay District fourteen County percent (14( %) of the Net Refinancing Proceeds. Before any Tenant Ownership Change or Financing Event for which Value Appreciation Rent may be due, Tenant shall provide District County with its detailed calculation of the Value Appreciation Rent. No Tenant Ownership Change or Financing Event shall occur until agreement is reached on the calculation of Value Appreciation Rent; provided, however, that such Tenant Ownership Change or Financing Event shall be permitted to occur without such agreement as long as District County and Tenant make mutually acceptable arrangements for the preservation of any additional Value Appreciation Rent plus interest at the Interest Rate that might be due to District County over and above that reflected in the Tenant’s calculation should any such dispute be resolved in favor of DistrictCounty. Value Appreciation Rent shall be due and payable concurrently with the Tenant Ownership Change or Financing Event giving rise to the obligation to pay Value Appreciation Rent (or, with respect to any disputed amount, on resolution of the dispute) and, in the situation of a Tenant Ownership Change, shall be the joint and several obligation of the transferee and transferor.

Value Appreciation Rent. In the event of a Tenant Ownership Change or a Financing Event, Tenant shall pay to District Value Appreciation Rent as described herein. For a Tenant Ownership Change, the Value Appreciation Rent shall be the greater of (a) the lesser of (i) the Net Transfer Proceeds, Proceeds or (ii) four percent (4%) of the Gross Transfer Proceeds, or (b) fourteen percent (14%) of Net Transfer Proceeds. For a Financing Event, Tenant shall pay District fourteen percent (14%) of the Net Refinancing ProceedsProceeds as Value Appreciation Rent. Before any Tenant Ownership Change or Financing Event for which Value Appreciation Rent may be due, Tenant shall provide District with its detailed calculation of the Value Appreciation Rent. No Tenant Ownership Change or Financing Event shall occur until agreement is reached on the calculation of Value Appreciation Rent; provided, however, that such Tenant Ownership Change or Financing Event shall be permitted to occur without such agreement as long as District and Tenant make mutually acceptable arrangements for the preservation of any additional Value Appreciation Rent plus interest at the Interest Rate that might be due to District over and above that reflected in the Tenant’s calculation should any such dispute be resolved in favor of DistrictDistrict (but such interest shall be charged only on that portion of Value Appreciation Rent in excess of the amount determined by Tenant). Value Appreciation Rent shall be due and payable concurrently with the Tenant Ownership Change or Financing Event giving rise to the obligation to pay Value Appreciation Rent (or, with respect to any disputed amount, on resolution of the dispute) and, in the situation of a Tenant Ownership Change, shall be the joint and several obligation of the transferee and transferor.

Value Appreciation Rent. In the event of a Tenant Ownership Change or a Financing Event, Tenant shall pay to District County, concurrent with the closing of such transaction, an amount (“Value Appreciation Rent as described herein. For a Tenant Ownership Change, the Value Appreciation Rent shall be the greater of (aRent”) the lesser of (i) the Net Transfer Proceeds, or (ii) four equal to one percent (41%) of the Gross Transfer Proceeds, Proceeds in connection with such Tenant Ownership Change or (b) fourteen one percent (141%) of Net Transfer Proceeds. For a the Loan Amount of such Financing Event. In the event a Tenant Ownership Change and Financing Event occur concurrently, Tenant shall pay District fourteen percent (14%) the greater of the Net Refinancing Proceedstwo foregoing calculations. Before any Tenant Ownership Change or Financing Event for which Value Appreciation Rent may be due, Tenant shall provide District County with its detailed calculation of the Value Appreciation Rent. No Tenant Ownership Change or Financing Event shall occur until agreement is reached on the calculation of Value Appreciation Rent; provided, however, that such Tenant Ownership Change or Financing Event shall be permitted to occur without such agreement as long as District County and Tenant make mutually acceptable arrangements for the preservation of any additional Value Appreciation Rent plus interest at the Interest Rate that might be due to District County over and above that reflected in the Tenant’s calculation should any such dispute be resolved in favor of DistrictCounty. Value Appreciation Rent shall be due and payable concurrently with the Tenant Ownership Change or Financing Event giving rise to the obligation to pay Value Appreciation Rent (or, with respect to any disputed amount, on resolution of the dispute) and, in the situation of a Tenant Ownership Change, shall be the joint and several obligation of the transferee and transferor.transferor.‌

Value Appreciation Rent. In the event of a Tenant Ownership Change or a Financing Event, Tenant shall pay to District County, concurrent with the closing of such transaction, an amount (“Value Appreciation Rent as described herein. For a Tenant Ownership Change, the Value Appreciation Rent shall be the greater of (aRent”) the lesser of (i) the Net Transfer Proceeds, or (ii) four equal to one percent (41%) of the Gross Transfer Proceeds, Proceeds in connection with such Tenant Ownership Change or (b) fourteen one percent (141%) of Net Transfer Proceeds. For a the Loan Amount of such Financing Event. In the event a Tenant Ownership Change and Financing Event occur concurrently, Tenant shall pay District fourteen percent (14%) the greater of the Net Refinancing Proceedstwo foregoing calculations. Before any Tenant Ownership Change or Financing Event for which Value Appreciation Rent may be due, Tenant shall provide District County with its detailed calculation of the Value Appreciation Rent. No Tenant Ownership Change or Financing Event shall occur until agreement is reached on the calculation of Value Appreciation Rent; provided, however, that such Tenant Ownership Change or Financing Event shall be permitted to occur without such agreement as long as District County and Tenant make mutually acceptable arrangements for the preservation of any additional Value Appreciation Rent plus interest at the Interest Rate that might be due to District County over and above that reflected in the Tenant’s calculation should any such dispute be resolved in favor of DistrictCounty. Value Appreciation Rent shall be due and payable concurrently with the Tenant Ownership Change or Financing Event giving rise to the obligation to pay Value Appreciation Rent (or, with respect to any disputed amount, on resolution of the dispute) and, in the situation of a Tenant Ownership Change, shall be the joint and several obligation of the transferee and transferor.

Value Appreciation Rent. In the event of a Tenant Ownership Change or a Financing Event, Tenant shall pay to District Value Appreciation Rent as described herein. For a Tenant Ownership Change, the Value Appreciation Rent shall be the greater of (a) the lesser of (i) the Net Transfer Proceeds, Proceeds or (ii) four percent (4%) of the Gross Transfer Proceeds, or (b) fourteen percent (14%) of Net Transfer Proceeds. For a Financing Event, Tenant shall pay District fourteen percent (14%) of the Net Refinancing ProceedsProceeds as Value Appreciation Rent. Before any Tenant Ownership Change or Financing Event for which Value Appreciation Rent may be due, Tenant shall provide District with its detailed calculation of the Value Appreciation Rent. No Tenant Ownership Change or Financing Event shall occur until agreement is reached on the calculation of Value Appreciation Rent; provided, however, that such Tenant Ownership Change or Financing Event shall be permitted to occur without such agreement as long as District and Tenant make mutually acceptable arrangements for the preservation of any additional Value Appreciation Rent plus interest at the Interest I nterest Rate that might be due to District over and above that reflected in the Tenant’s calculation should any such dispute be resolved in favor of DistrictDistrict (but such interest shall be charged only on that portion of Value Appreciation Rent in excess of the amount determined by Tenant). Value Appreciation Rent shall be due and payable concurrently with the Tenant Ownership Change or Financing Event giving rise to the obligation to pay Value Appreciation Rent (or, with respect to any disputed amount, on resolution of the dispute) and, in the situation of a Tenant Ownership Change, shall be the joint and several obligation of the transferee and transferor.