Land Recovery

Land Recovery. Shall mean (I) the amount(s) received by WPHC in connection with the sale(s) of all or a portion of its interest in the Land Contract or in the Master Development Land acquired by it pursuant to the Land Contract, minus (II) the purchase price paid by the WPHC or its Affiliates for such Master Development Land, plus all closing costs and incidental holding and carrying costs at an assumed annual interest rate of nine percent (9%), and the earnest money deposit in connection with... the Land Contract unless and until such earnest money deposit is applied against the purchase price of Master Development Land. Land Recovery shall not include any amounts received from the sale of the Project or a Future Project. View More