secwatch.observer — SEC 8-K summary
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Issuer:     Net Lease Office Properties (NLOP)
CIK:        0001952976
Form:       8-K/A
Filed at:   2023-11-07T23:59:59+00:00
Accession:  0001628280-23-037440
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NLOP corrects advisory agreement termination fee; $7.5M annual fee cap for management services
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- Advisory agreements with W. P. Carey Management LLC and W. P. Carey & Co. B.V. dated Nov 1, 2023, for strategic management, asset management, and property disposition support.
- Management fee of $625,000 per month, adjusted proportionally upon property dispositions, with annual cap of $7.5M.
- Termination fee corrected: 0.5x trailing twelve-month aggregate fees upon Company termination for convenience or Advisor Good Reason termination.
- Initial term of three years, automatic renewal for one-year terms.
- Base administrative reimbursement of $333,333.33 per month plus out-of-pocket expenses.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1952976/000162828023037440/0001628280-23-037440-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1952976/000162828023037440/nlop2023q4anlopadvisoryagr.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-037440

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