Subordinated Share of Net Sales Proceeds. The Subordinated Share of Net Sales Proceeds shall be payable to the Advisor in an amount equal to 15.0% of Net Sales Proceeds remaining after the Stockholders have received Distributions equal to the sum of the Stockholders’ 8.0% Return and 100% of Invested Capital. The Company shall have the option to pay such fee in the form of cash, Shares, a promissory note, or any combination of the foregoing. In no event will the Company pay a Subordinated Share of Net Sales Proceeds, including any interest payable in connection with any promissory note issued by the Company in payment of the Subordinated Share of Net Sales Proceeds, in excess of the amount that would be presumptively reasonable under Section 9.7 of the Articles of Incorporation.
Appears in 6 contracts
Samples: Advisory Agreement (Carter Validus Mission Critical REIT, Inc.), Advisory Agreement (Cole Credit Property Trust III, Inc.), Amended and Restated Advisory Agreement (Carter Validus Mission Critical REIT, Inc.)
Subordinated Share of Net Sales Proceeds. The Subordinated Share of Net Sales Proceeds shall be payable to the Advisor in an amount equal to 15.0% of Net Sales Proceeds remaining after the Stockholders have received Distributions equal to the sum of the Stockholders’ 8.06.0% Return and 100% of Invested Capital. The Company shall have the option to pay such fee in the form of cash, Shares, a promissory note, or any combination of the foregoing. In no event will the Company pay a Subordinated Share of Net Sales Proceeds, including any interest payable in connection with any promissory note issued by the Company in payment of the Subordinated Share of Net Sales Proceeds, in excess of the amount that would be presumptively reasonable under Section 9.7 8.7 of the Articles of Incorporation.
Appears in 3 contracts
Samples: Advisory Agreement (Carter Validus Mission Critical REIT II, Inc.), Form of Advisory Agreement (Carter Validus Mission Critical REIT II, Inc.), And Restated Advisory Agreement (Carter Validus Mission Critical REIT II, Inc.)
Subordinated Share of Net Sales Proceeds. The Subordinated Share of Net Sales Proceeds shall be payable to the Advisor in an amount equal to 15.0% of Net Sales Proceeds remaining after the Stockholders have received Distributions equal to the sum of the Stockholders’ 8.0% Return and 100% of Invested Capital. The Company shall have the option to pay such fee in the form of cash, Shares, a promissory note, or any combination of the foregoing. In no event will the Company pay a Subordinated Share of Net Sales Proceeds, including any interest payable in connection with any promissory note issued by the Company in payment of the Subordinated Share of Net Sales Proceeds, in excess of the amount that would be presumptively reasonable under Section 9.7 8.7 of the Articles of Incorporation.
Appears in 2 contracts
Samples: Third Amended and Restated Advisory Agreement (Carter Validus Mission Critical REIT II, Inc.), Third Amended and Restated Advisory Agreement (Carter Validus Mission Critical REIT, Inc.)
Subordinated Share of Net Sales Proceeds. The Subordinated Share of Net Sales Proceeds shall be payable to the Advisor in an amount equal to 15.0% of Net Sales Proceeds remaining after the Stockholders have received Company has paid Distributions equal to not less than the sum of the Stockholders’ 8.06.0% Return and 100% of Invested Capital, as of each determination date less any Subordinated Incentive Listing Fee previously paid to the Advisor but not below zero. The Company This fee shall be payable in cash; provided that the Advisor shall have the option to pay such fee elect Shares in the form lieu of cash, Shares, a promissory note, or any combination of the foregoing. In no event will the Company pay a Subordinated Share of Net Sales Proceeds, including any interest payable in connection with any promissory note issued by the Company in payment of the Subordinated Share of Net Sales Proceeds, Proceeds in excess of the amount that would be presumptively reasonable under Section 9.7 8.7 of the Articles of Incorporation.
Appears in 2 contracts
Samples: Advisory Agreement (Steadfast Apartment REIT, Inc.), Advisory Agreement (Steadfast Income REIT, Inc.)
Subordinated Share of Net Sales Proceeds. The Subordinated Share of Net Sales Proceeds shall be payable to the Advisor in an amount equal to 15.0% of Net Sales Proceeds remaining after the Stockholders have received Distributions equal to the sum of the Stockholders’ 8.0% Return and 100% of Invested Capital. The Company shall have the option to pay such fee in the form of cash, Shares, a promissory note, or any combination of the foregoing. In no event will the Company pay a Subordinated Share of Net Sales Proceeds, including any interest payable in connection with any promissory note issued by the Company in payment of the Subordinated Share of Net Sales Proceeds, Proceeds in excess of the amount that would be presumptively reasonable under Section 9.7 of the Articles of Incorporation.
Appears in 1 contract
Samples: Advisory Agreement (Cole Credit Property Trust III, Inc.)
Subordinated Share of Net Sales Proceeds. The A Subordinated Share of Net Sales Proceeds shall be payable to the Advisor in an amount equal to 15.010.0% of Net Sales Proceeds remaining after the Stockholders have received Distributions equal to the sum of the Stockholders’ 8.0% Return and 100% of Invested Capital. The Company shall have the option to pay such fee in the form of cash, Shares, a promissory note, or any combination of the foregoing. In no event will the Company pay a Subordinated Share of Net Sales Proceeds, including any interest payable in connection with any promissory note issued by the Company in payment of the Subordinated Share of Net Sales Proceeds, in excess of the amount that would be presumptively reasonable under Section 9.7 of the Articles of Incorporation.
Appears in 1 contract
Samples: Advisory Agreement (AEI Core Property Income Trust, Inc)
Subordinated Share of Net Sales Proceeds. The Subordinated Share of Net Sales Proceeds shall be payable to the Advisor in an amount equal to 15.0% of Net Sales Proceeds remaining after the Stockholders have received Distributions Dividends equal to the sum of the Stockholders’ 8.0% Return and 100% of Invested Capital. The Company shall have the option to pay such fee in the form of cash, Shares, a promissory note, or any combination of the foregoing. In no event will the Company pay a Subordinated Share of Net Sales Proceeds, including any interest payable in connection with any promissory note issued by the Company in payment of the Subordinated Share of Net Sales Proceeds, in excess of the amount that would be presumptively reasonable under Section 9.7 of the Articles of Incorporation.
Appears in 1 contract
Samples: Advisory Agreement (Cole Credit Property Trust III, Inc.)
Subordinated Share of Net Sales Proceeds. The A Subordinated Share of Net Sales Proceeds shall be payable to the Advisor in an amount equal to 15.010.0% of Net Sales Proceeds remaining after the Stockholders have received Distributions equal to the sum of the Stockholders’ 8.07.0% Return and 100% of Invested Capital. The Company shall have the option to pay such fee in the form of cash, Shares, a promissory note, or any combination of the foregoing. In no event will the Company pay a Subordinated Share of Net Sales Proceeds, including any interest payable in connection with any promissory note issued by the Company in payment of the Subordinated Share of Net Sales Proceeds, in excess of the amount that would be presumptively reasonable under Section 9.7 of the Articles of Incorporation.
Appears in 1 contract
Samples: Advisory Agreement (AEI Core Property Income Trust, Inc)
