Examples of Net Sales Proceeds in a sentence
Provided that the Borrower is not in default, the Lender shall provide partial discharges of Project units on the closing of a unit sale transaction provided the Borrower pays the Lender Net Sales Proceeds of each sale.
The Lessee will expend at least eighty-five percent (85%) of the Net Sales Proceeds by the third annual anniversary date of the Closing Date.
The acquisition of the Project will commence promptly following the Closing Date, and the Lessee has incurred, or will incur, within six (6) months after the Closing Date, a substantial binding commitment to expend at least five percent (5%) of the Net Sales Proceeds (defined in Treas.
Facility 2 shall be repaid until such time as the loan balance is zero with 100% of the remainder of the Net Sales Proceeds being applied after Facility 1 has been repaid in full.
The amount required to secure a discharge of the mortgage for each sold Unit will not exceed 100% of its Net Sales Proceeds, and shall be recalculated from time to time such that the Facility is fully repaid and the security therefor fully discharged when all 4 lots have been sold.