Net Sales Proceeds

Net Sales Proceeds. As such term is defined in the Declaration of Trust.

Net Sales Proceeds. With respect to Release Collateral, the gross sales price of the Release Collateral set forth in the purchase contract for such Release Collateral, less (a) customary tax and assessment prorations, (b) reasonable and customary brokerage commissions paid to third party brokers, (c) reasonable and customary closing costs, and (d) if applicable, a fee (not to exceed $25,000, regardless of the actual amount thereof) payable to HLC Hotels, Inc. (Masters Inns Sites) and Strand Development Company,... LLC (Savannah Suites Sites) for termination of the management agreement for the Release Collateral. View More

Net Sales Proceeds. Has the meaning set forth in the Articles of Incorporation.

Net Sales Proceeds. The proceeds from the sale, grant or conveyance of any Real Estate Assets, including assets owned by a Real Estate Operating Company that is acquired by the Company and operated as one of its subsidiaries, less any costs incurred in selling the asset including, but not limited to, legal fees and selling commissions and further reduced by the amount of any indebtedness encumbering the asset and any amounts reinvested in one or more Real Estate Assets or set aside as a reserve within one hundred... eighty (180) days of closing of sale, grant or conveyance View More

Net Sales Proceeds. In the case of a transaction described in clause (i) (A) of the definition of Sale, the proceeds of any such transaction less the amount of all real estate commissions and closing costs paid by the Company. In the case of a transaction described in clause (i) (B) of such definition, Net Sales Proceeds means the proceeds of any such transaction less the amount of any legal and other selling expenses incurred in connection with such transaction. In the case of a transaction described in clause... (i) (C) of such definition, Net Sales Proceeds means the proceeds of any such transaction actually distributed to the Company from the joint venture. In the case of a transaction described in clause (ii) of the definition of Sale, Net Sales Proceeds means the proceeds of such transaction or series of transactions less all amounts generated thereby and reinvested in one or more Properties within 180 days thereafter and less the amount of any real estate commissions, closing costs, and legal and other selling expenses incurred by or allocated to the Company in connection with such transaction or series of transactions. Net Sales Proceeds shall not include any reserves established by the Company in its sole discretion. View More

Net Sales Proceeds. An amount, if any, by which the Gross Sale Proceeds from an Approved Sale of a Release Property (as defined in the Deed of Trust) exceeds the sum of the Approved Closing Costs for the sale of such Release Property

Net Sales Proceeds. The aggregate cash proceeds received by the Borrower, any Subsidiary or any Partially-Owned Entity in connection with the consummation of any Permanent Disposition net of the following costs and expenses, as evidenced by invoices or other evidence reasonably acceptable to Agent: (a) all reasonable and customary out-of-pocket costs paid or payable by such Borrower, Subsidiary or Partially-Owned Entity in connection with such Permanent Disposition (including, without limitation, legal, accounting... and investment banking fees, sales commissions and taxes), and (b) for Permanent Dispositions involving the sale of any Real Estate Asset that is encumbered by Indebtedness, the repayment of such Indebtedness, including, without limitation, prepayment fees and yield maintenance charges. View More