Common use of Closing Consideration Clause in Contracts

Closing Consideration. At the Closing, BNP shall issue the number of Units determined pursuant to Section 2.1 (a) herein having an aggregate value of Twenty-Five Million Seven Hundred Fifty Thousand Dollars ($25,750,000), subject to increase or decrease by the adjustments in Section 3.2 below, but less the following amounts: (i) the amount of the Outstanding Company Debt Financing as of the Closing Date; (ii) all accrued but unpaid interest under the Outstanding Company Debt Financing as of the Closing Date; (iii) any charges or fees associated with property transfer and documentary taxes and all other costs related to the transfer of the Property (including fees, charges and expenses associated with the assumption of the Outstanding Company Debt Financing, all of which shall be paid by the Contributing Parties and shall be a reduction in the Contribution Price; and (iv) $500,000 (the "Holdback Amount").

Appears in 1 contract

Sources: Exchange Agreement (BNP Residential Properties Inc)

Closing Consideration. At the Closing, BNP shall issue the number of Units determined pursuant to Section 2.1 (a2.1(a) herein having an aggregate value of Twenty-Five Four Million Seven Three Hundred Fifty Sixty Thousand Dollars ($25,750,0004,360,000), subject to increase or decrease by the adjustments in Section 3.2 below, but less the following amounts: (i) the amount of the Outstanding Company Debt Financing as of the Closing Date; (ii) all accrued but unpaid interest under the Outstanding Company Debt Financing as of the Closing Date;; and (iii) any charges or fees associated with property transfer and documentary taxes and all other costs related to the transfer of the Property (including fees, charges and expenses associated with the assumption of the Outstanding Company Debt Financing, all of which shall be paid by the Contributing Parties and shall be a reduction in the Contribution Price; and (iv) $500,000 (the "Holdback Amount").

Appears in 1 contract

Sources: Exchange Agreement (BNP Residential Properties Inc)

Closing Consideration. At the Closing, BNP shall issue the number of Units determined pursuant to Section 2.1 (a) herein having an aggregate value of Twenty-Five Seven Million Seven Hundred Fifty Ninety Thousand Dollars ($25,750,0007,090,000.00), subject to increase or decrease by the adjustments in Section 3.2 below, but less the following amounts: (i) the amount of the Outstanding Company Debt Financing as of the Closing Date; (ii) all accrued but unpaid interest under the Outstanding Company Debt Financing as of the Closing Date; (iii) any charges or fees associated with property transfer and documentary taxes and all other costs related to the transfer of the Property (including fees, charges and expenses associated with the assumption of the Outstanding Company Debt FinancingProperty, all of which shall be paid by the Contributing Parties and shall be a reduction in the Contribution Price; and (iv) $500,000 (the "Holdback Amount").

Appears in 1 contract

Sources: Exchange Agreement (BNP Residential Properties Inc)

Closing Consideration. At the Closing, BNP shall issue the number of Units determined pursuant to Section 2.1 (a2.1(a) herein having an aggregate value of Twenty-Five Fourteen Million Seven Six Hundred Fifty Ten Thousand Dollars ($25,750,00014,610,000.00), subject to increase or decrease by the adjustments in Section 3.2 below, but less the following amounts:: 132 (i) the amount of the Outstanding Company Debt Financing as of the Closing Date; (ii) all accrued but unpaid interest under the Outstanding Company Debt Financing as of the Closing Date;; and (iii) any charges or fees associated with property transfer and documentary taxes and all other costs related to the transfer of the Property (including fees, charges and expenses associated with the assumption of the Outstanding Company Debt Financing, all of which shall be paid by the Contributing Parties and shall be a reduction in the Contribution Price; and (iv) $500,000 (the "Holdback Amount").

Appears in 1 contract

Sources: Exchange Agreement (BNP Residential Properties Inc)