Net Capital Proceeds means the net cash proceeds received by the Partnership in connection with (i) any Sale, (ii) any borrowing or refinancing of borrowing(s) by the Partnership, (iii) any condemnation or deeding in lieu of condemnation of all or a portion of any Property, (iv) any collection in respect of property, hazard, or casualty insurance (but not business interruption insurance) or any damage award; or (v) any other transaction the proceeds of which, in accordance with generally accepted accounting principles, are considered to be capital in nature, in each case, after deduction of (a) all costs and expenses incurred by the Partnership with regard to such transactions (including, without limitation, any repayment of any indebtedness required to be repaid as a result of such transaction or which the General Partner elects to pay out of the proceeds of such transaction, together with accrued interest and premium, if any, thereon and any sales commissions or other costs or expenses due and payable to any Person in connection therewith, including to a Partner or its Affiliates), and (b) all amounts expended by the Partnership for the acquisition of additional Properties, Mortgages or other investments or for capital repairs or improvements to any Property with such cash proceeds.
Net Capital Proceeds means the proceeds from any Capital Transaction minus (i) the expenses the Company incurs with respect to the Capital Transaction, (ii) any repayments of debt made in connection with the Capital Transaction, (iii) brokerage commissions, and (iv) other costs customarily taken into account in calculating net proceeds, and after establishing such reserves against future needs as the Manager shall determine.
Net Capital Proceeds means the net cash proceeds received by the Company from a Capital Transaction, less any portion thereof used to establish reserves for Company expenses, obligations, and contingencies as determined by the Members. Net Capital Proceeds shall include all principal and interest payments on any debt obligation received by the Company in any Capital Transaction.
Examples of Net Capital Proceeds in a sentence
Upon the occurrence of a Capital Event that results in Loudoun’s receipt of Net Capital Proceeds, Loudoun shall pay to the Authority additional rent (“Capital Event Rent”) in accordance with Section 4.2.1.
Following the close of the Offering, the Net Capital Proceeds from a Capital Transaction Event shall be allocated and distributed in the same manner as Preferred Allocations and Distributions from Net Cash Flow.
We expect our liquidity and capital resources to fluctuate and that we will experience a relative decrease in liquidity as available funds are expended in connection with the funding and acquisition of mortgage loans as well as distributions and redemptions under the Net Capital Proceeds Distribution Program and as amounts that are drawn under the LegacyTX Credit Facility are repaid.
First, such Net Capital Proceeds shall be used to repay any outstanding Member Loans.
Net Capital Proceeds" shall refer to the net cash proceeds received by the Company from a Capital Transaction, less any portion thereof used to establish reserves for expenses, obligations, and contingencies of the Company as determined by the Manager.
More Definitions of Net Capital Proceeds
Net Capital Proceeds means, with respect to any Company Property, the gross proceeds, if any, realized by the Company from the sale, financing, refinancing or other disposition of such Company Property or any interest therein, net of the actual costs and expenses incurred by the Company in connection with the transaction giving rise to such proceeds, including repayment of any indebtedness secured by such Company Property.
Net Capital Proceeds means the proceeds from a Capital Transaction reduced by (i) expenditures incurred to effect the Capital Transaction, (ii) expenditures for the recovery, repair, restoration or replacement of any asset damaged or disposed of in the Capital Transaction, (iii) amounts paid on any loans or other obligations of the Company that became due, or that the Board deems it appropriate to pay, as the result of the Capital Transaction, and (iv) such reserves for capital improvements and/or replacements or repairs and/or to meet anticipated expenses as the Board deems to be reasonably necessary for the efficient conduct of the Company’s business.
Net Capital Proceeds means gross cash or property received by the Company from all Capital Events, including reductions in Reserves that reduced Net Capital Proceeds for prior periods, reduced by the portion used (i) to pay Company expenses incurred in connection with such Capital Event, (ii) to pay any Company indebtedness due in connection with such Capital Event, and (iii) to fund Reserves.
Net Capital Proceeds means (i) the net cash proceeds arising out of the refinancing or refunding of any Company indebtedness or any additional indebtedness, and (ii) gross receipts (including condemnation and casualty insurance proceeds) from the sale, exchange or other disposition (excluding leasing in the ordinary course of business) of any Company assets, less (A) any indebtedness relating to or secured by such assets which is paid out of such gross receipts, (B) the costs and expenses of the sale, exchange or disposition including brokerage commissions, and (C) in the case of condemnation or casualty, the cost of any collection, repair or restoration.
Net Capital Proceeds means any net proceeds received by the Partnership from a Capital Event, after the payment of all debts then due and payable and the establishment of appropriate reserves as reasonably determined by the General Partner; provided, however, that Net Capital Proceeds shall not include proceeds derived from a casualty, loss or condemnation that are used or reserved for repair or restoration.
Net Capital Proceeds shall have the meaning given it in Section 2(h)(iv) below.
Net Capital Proceeds means any Capital Proceeds received directly or indirectly by the Company after payment of (i) any costs and expenses accrued or assumed by the Company in connection with the transaction from which the Capital Proceeds were received, including without limitation brokerage commissions, closing costs and other costs of sale, (ii) any amounts used to reduce the outstanding principal amount of any Company indebtedness that is secured by Company Investment Properties; and (iii) such further amounts that the Manager deems necessary to place into reserves for acquisition of additional investments and anticipated costs and expenditures incurred or to be incurred in connection with the Company’s business.