PX Value definition
PX Value means the amount in pounds sterling calculated in accordance with the following formula: PX Value = X – (Y+Z) Where: X is the Market Value of the relevant PX Property Y is the aggregate of all costs, fees, expenses incurred or expected to be incurred by the Developer in purchasing, holding, improving and selling the relevant PX Property prior to its disposal and the costs actually incurred or expected to be incurred by the Developer in respect of agent’s and legal fees relating to the purchase and resale of the PX Property subject to an aggregate maximum of 5% of the Market Value of the PX Property Z is the price at which the PX Property was acquired by the Developer pursuant to the contract for the disposal of the relevant Dwelling provided that for the avoidance of doubt the PX Value may be a positive or negative figure (cc) Relevant Row means the row of the table that appears at paragraph 5.3 identified pursuant to paragraph 5.2 (dd) SDLT Percentage Rate means the percentage rate at which Stamp Duty Land Tax is payable by the Developer on Homes England’s Payment