Net Transfer Proceeds definition

Net Transfer Proceeds means, with respect to the Transfer of any Property, the gross sales price for such Property (including any xxxxxxx money, down payment or similar deposit included in the total sales price paid by the purchaser), less Transfer Expenses.

Net Transfer Proceeds shall have the meanings set forth in subsections 4.8.1 and 4.8.2.

Net Transfer Proceeds means, with respect to the Transfer of any Property, the gross sales price for such Property (including any earnest money, down payment or similar deposit included in the total sales price paid by the purchaser), less Transfer Expenses.

Examples of Net Transfer Proceeds in a sentence

• In the event of any Transfer of any Property, Borrower shall (or shall cause the Manager or the closing title company or escrow agent, as applicable, to) deposit directly into the Collection Account the Net Transfer Proceeds for allocation in accordance with the terms of this Agreement.

• In addition, Borrower shall, and shall cause Manager to, deposit any other Collections (other than (x) Rents, (y) Insurance Proceeds and Condemnation Proceeds, which shall be deposited into the Casualty and Condemnation Subaccount pursuant to the terms hereof and (z) Net Transfer Proceeds, which shall be deposited into the Cash Management Account pursuant to the terms hereof) received by or on behalf of Borrower directly into a Rent Deposit Account within three (3) Business Days following receipt thereof.

• 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.

• Borrower shall, and shall cause Manager to, deposit any other Collections (other than Rents, Net Transfer Proceeds and Cap Receipts) received by or on behalf of Borrower directly into the Cash Management Account within three (3) Business Days following receipt thereof; provided, that Insurance Proceeds and Condemnation Proceeds shall be handled in accordance with Sections 5.2, 5.3 and 5.4.

• 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.

More Definitions of Net Transfer Proceeds

Net Transfer Proceeds means the total cash and other consideration received (but in the case of a transfer to a party affiliated with or otherwise related to the transferor, such consideration shall in no event be deemed to be less than the fair value of the interests transferred), less the following costs with respect to Concessionaire (but not its successors or assignees):

Net Transfer Proceeds means the Gross Proceeds minus the Applicable Costs. For purposes of this subsection 4.8.2, Applicable Costs shall mean the sum of the following with respect to such successor Lessee:

Net Transfer Proceeds means the Fair Market Value of the proceeds (of whatever type) paid or payable to the Company and the Subsidiaries in respect of the Transfer of any of their respective Properties, determined as of the date of the substantial completion of such transfer, net of ordinary and customary expenses incurred by the Company and the Subsidiaries in connection with such Transfer and paid to Persons other than the Company, a Subsidiary or an Affiliate and net of all Indebtedness required by its terms to be paid in connection with such Transfer to any Person other than the Company or a Subsidiary.

Net Transfer Proceeds means the Gross Transfer Proceeds from such transfer, less the following amounts:

Net Transfer Proceeds means the Gross Transfer Proceeds received by that successor (but in the case of a transfer to a third party affiliated with or otherwise related to the transferor, such Gross Transfer Proceeds shall in no event be deemed to be less than the fair market value of the interests transferred), minus the following costs with respect to such successor Lessee:

Net Transfer Proceeds means, in the case of a Lessee Sale for which Value Appreciation Rent is payable, the Gross Transfer Proceeds from the transfer, less Documented Transaction Costs, the amount of unpaid balance of Leasehold Mortgage (including interest and prepayment fees, if applicable) if the Lessee Sale requires payment in full of the Leasehold Mortgage, and any outstanding Equity Contributions (including interest).

Net Transfer Proceeds means all sums actually received by or on behalf of Tenant in consideration of the value of this Lease and leasehold upon the Transfer (other than a Permitted Transfer) after subtracting the following: (i) all verifiable and actual brokerage commissions paid to an independent broker licensed by the California Department of Real Estate; (ii) all amounts incurred to repay, and all amounts paid in connection with the repayment of, all Mortgages and any debt secured by the Net Available Increment or Business Tax Reimbursement, including without limitation prepayment penalties and other lender fees and costs; and (iii) all other reasonable and customary expenses or sums actually paid or incurred by Tenant directly in connection with such Transfer including, without limitation, reasonable attorneys' fees and costs and amounts paid to the Landlord to reimburse it for its expenses in connection with such Transfer.