Real Estate Disposition definition
Examples of Real Estate Disposition in a sentence
Any Real Estate Disposition Fee payable under this section may be paid in addition to real estate commissions paid to non-Affiliates, provided that the total real estate commissions (including such Real Estate Disposition Fee) paid to all Persons by the Company for each Property shall not exceed an amount equal to the lesser of (i) 6.0% of the Contract Sales Price of the Property or (ii) the Competitive Real Estate Commission for the Property.
In each case in which a Real Estate Disposition Fee may be payable, the precise amount of the fee within the limits set forth in the preceding sentence shall be determined by the Board, including a majority of the Independent Directors, based upon the extent of the services provided by the Advisor or its Affiliate and market norms for the services provided.
Notwithstanding anything to the contrary herein, no Real Estate Disposition Fee shall be payable to the Advisor for Property Sales if such Sales involve the Company selling all or substantially all of its Properties in one or more transactions designed to effectuate a business combination transaction (as opposed to a Company liquidation, in which case the Real Estate Disposition Fee would be payable if the Advisor or an Affiliate provides a substantial amount of services as provided above).
Any Real Estate Disposition Proceeds Prepayment Amount allocated to a Principal Payments Account on any Interim Allocation Date shall be applied as prepayments on the following Payment Date in accordance with Section 5.14(f), Section 5.14(i) and Section 5.14(l).
In the sole discretion of the Advisor, the Advisor may elect to have the Acquisition Fee, the Operating Expenses, the Financing Coordination Fee and/or the Real Estate Disposition paid, in whole or in part, in cash or Common Shares, or any combination thereof.
If the Company sells an Investment to an Affiliate, the Advisor shall not receive a Real Estate Disposition Commission in connection with such Sale.
In the event that the Investment Committees are unable to reach agreement with respect to the Real Estate Disposition Agreement, the Investment Committees will appoint a qualified real estate professional to determine whether the terms of a proposed disposition are fair and reasonable.
Within one Business Day after the Closing Date (as defined in the Real Estate Disposition Agreements), unless this Agreement shall have been previously terminated pursuant to Section 4(b) hereof, Escrow Agent shall deliver to Sub (or its successor) any and all amounts remaining in the Escrow Account and, upon such delivery, the Escrow Account shall be deemed dissolved and this Agreement shall terminate.
In addition, the parties to this Agreement anticipate that the respective Committees will negotiate and execute the Real Estate Disposition Agreement within 30 days or such later date as may be mutually agreed to by the Investment Committees.
The Manager or affiliate will receive a Real Estate Disposition Fee of six percent (6%) of the sales price of each condominium.