Contingent Payment. Notwithstanding anything in this Agreement to the contrary, if any of the Properties are sold by Buyer within twelve (12) months after the Closing Date, Buyer shall pay to Seller an amount equal to five percent (5%) of the Consideration allocated to such Property. The Deeds shall contain a deed restriction granting Seller the right to receive such additional sum from Buyer.
Appears in 5 contracts
Samples: Agreement for Sale and Purchase of Property (Investors Real Estate Trust), General Assignment and Assumption Agreement (Investors Real Estate Trust), Agreement for Sale and Purchase (Investors Real Estate Trust)
Contingent Payment. Notwithstanding anything in this Agreement to the contrary, if any of the Properties are sold by Buyer within twelve (12) months after the Closing Date, Buyer shall pay to Seller an amount equal to five percent (5%) of the Consideration allocated to such Property. The Deeds Deed shall contain a deed restriction granting Seller the right to receive such additional sum from Buyer.
Appears in 1 contract
Samples: General Assignment and Assumption Agreement (Investors Real Estate Trust)
