Examples of Net Transfer Proceeds in a sentence
With respect to any Change of Ownership described in Subsection 4.6.1(b), Subsections 4.8.1 and 4.8.2 shall apply (as applicable), except that any rents or other amounts received by Lessee from the Major Sublessee a percentage of which is passed through to County under any provision of this Lease (other than payment of Net Proceeds Share) shall be disregarded in the computation of Net Transfer Proceeds.
In the event of a Change of Ownership, the “Net Proceeds Share” shall be the amount by which the greater of the following exceeds the Administrative Charge paid by Lessee to County in connection with such Change of Ownership: (a) the lesser of (i) the Net Transfer Proceeds from such Change of Ownership, or (ii) five percent (5%) of the Gross Transfer Proceeds from such Change of Ownership; or (b) twenty percent (20%) of the Net Transfer Proceeds from such Change of Ownership.
Notwithstanding the foregoing, in the case of a Change of Ownership described in Subsection 4.6.1(b), the Net Proceeds Share shall be payable to County as and when the Net Transfer Proceeds are received, with the Net Proceeds Share being equitably apportioned to the payments derived by Xxxxxx from said Change of Ownership (other than any payments passed through to County under this Lease).
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.
Landlord may reference in any estoppel certificate or other representation requested from Landlord that payment of Landlord's share of Net Transfer Proceeds is a material obligation under the Lease, due and owing at close of escrow of any Transfer hereunder.