Purchase Price Closing. (a) The total amount which the buying party shall pay the selling party in a purchase shall be the amount that the selling party would have received if the Company (i) sold the Property for an amount equal to the Buy-Sell Stated Value, (ii) satisfied the indebtedness of the Company specifically referred to in subsection (b) below (and no other liabilities) out of the sale proceeds and (iii) distributed the remaining balance to Administrative Agent and PACOP in accordance with their respective percentage ownership interests in the Company (i.e., 51%, in the case of PACOP, and up to 49%, in the case of Administrative Agent).
Appears in 7 contracts
Samples: Buy Sell Agreement (Preferred Apartment Communities Inc), Buy Sell Agreement (Preferred Apartment Communities Inc), Buy Sell Agreement (Preferred Apartment Communities Inc)
Purchase Price Closing. (a) The total amount which the buying party shall pay the selling party in a purchase shall be the amount that the selling party would have received if the Company (i) sold the Property for an amount equal to the Buy-Sell Stated Value, (ii) satisfied the indebtedness of the Company specifically referred to in subsection (b) below (and no other liabilities) out of the sale proceeds and (iii) distributed the remaining balance to Administrative Agent and PACOP New Market in accordance with their respective percentage ownership interests in the Company (i.e., 51%, in the case of PACOPNew Market, and up to 49%, in the case of Administrative Agent).
Appears in 3 contracts
Samples: Buy Sell Agreement (Preferred Apartment Communities Inc), Buy Sell Agreement (Preferred Apartment Communities Inc), Buy Sell Agreement (Preferred Apartment Communities Inc)
