Common use of Future Sales Clause in Contracts

Future Sales. Buyer agrees to split with Seller, the net profits of any sale to a third-party (a party not related or affiliated with Buyer) that closes within twenty-four (24) months of the Closing Date hereof. For purposes hereof, if any such sale closes within 24 months of the Closing Date hereof, net profits of sale" shall mean fifty percent (50%) of that amount of the selling price actually received by Buyer in excess of the amount of $1,700,000.00, less the expenses of sale and any additional amounts expected by Buyer from and after the Closing to maintain, repair or improve the Property.