Property Disposition Fee. In connection with a Sale of an Investment (except for such Investments that are traded on a national securities exchange) in which the Advisor or any Affiliate of the Advisor provides a substantial amount of services, as determined by the Independent Directors, the Company shall pay to the Advisor or its Affiliate a Property Disposition Fee equal to the lesser of (i) one-half of a Competitive Real Estate Commission or (ii) one percent (1.0%) of the Contract Sales Price of such Investment. Any Property Disposition Fee payable under this Section 10(c) may be paid in addition to commissions paid to non-Affiliates, provided that the total commissions (including such Property Disposition Fee) paid to all Persons by the Company for the Sale of each Investment shall not exceed six percent (6.0%) of the Contract Sales Price.
Appears in 4 contracts
Samples: Advisory Agreement (Independence Realty Trust, Inc), Advisory Agreement (Empire American Realty Trust Inc), Advisory Agreement (Empire American Realty Trust Inc)
