Capital Proceeds. Subject to the provisions of Sections 5.3, 5.4 and 12.2(c), Net Capital Proceeds shall be distributed as follows: (i) First, 100% to the General Partner and Limited Partners in accordance with each such Partner’s respective Percentage Interest until, in the aggregate, the Limited Partners receive distributions from the Partnership and the Stockholders receive dividends from the General Partner in an amount equal to the sum of (i) the Net Investment and (ii) any cumulative shortfall in the Limited Partners’ and the Stockholders’ receipt of the First Level Return pursuant to Sections 5.1(a) and 5.1(b); and (ii) Thereafter, (A) 15% to the Special Limited Partner, and (B) 85% to the General Partner and Limited Partners in accordance with each such Partner’s respective Percentage Interest.
Appears in 4 contracts
Sources: Limited Partnership Agreement (American Realty Capital New York Recovery Reit Inc), Limited Partnership Agreement (Carter Validus Mission Critical REIT, Inc.), Limited Partnership Agreement (American Realty Capital New York Recovery Reit Inc)
Capital Proceeds. Subject to the provisions of Sections 5.3, 5.4 and 12.2(c), Net Capital Proceeds shall be distributed as follows:
(i) First, 100% to the General Partner and Limited Partners in accordance with each such Partner’s respective Percentage Interest until, in the aggregate, the Limited Partners receive distributions from the Partnership and the Stockholders receive dividends from the General Partner in an amount equal to the sum of (i) the Net Investment and (ii) any cumulative shortfall in the Limited Partners’ and the Stockholders’ receipt of the First Level Return pursuant to Sections 5.1(a) and 5.1(b); and
(ii) Thereafter, (A) 15% to the Special Associate Limited Partner, and (B) 85% to the General Partner and Limited Partners in accordance with each such Partner’s respective Percentage Interest.
Appears in 3 contracts
Sources: Limited Partnership Agreement (Independence Realty Trust, Inc), Limited Partnership Agreement (Empire American Realty Trust Inc), Limited Partnership Agreement (Empire American Realty Trust Inc)
Capital Proceeds. Subject to the provisions of Sections 5.3, 5.4 and 12.2(c), Net Capital Proceeds shall be distributed as follows:
(i) First, 100% to the General Partner and Limited Partners in accordance with each such Partner’s respective Percentage Interest until, in the aggregate, the Limited Partners receive distributions from the Partnership and the Stockholders receive dividends from the General Partner in an amount equal to the sum of (i) the Net Investment and (ii) any cumulative shortfall in the Limited Partners’ and the Stockholders’ receipt of the First Level Return pursuant to Sections 5.1(a) and 5.1(b); and
(ii) Thereafter, (A) 1510% to the Special Limited Partner, and (B) 8590% to the General Partner and Limited Partners in accordance with each such Partner’s respective Percentage Interest.
Appears in 2 contracts
Sources: Limited Partnership Agreement (Independence Realty Trust, Inc), Limited Partnership Agreement (Independence Realty Trust, Inc)
Capital Proceeds. Subject to the provisions of Sections 5.3, 5.4 and 12.2(c), Net Capital Proceeds shall be distributed as follows:
(i) First, 100% to the General Partner and Limited Partners in accordance with each such Partner’s respective Percentage Interest until, in the aggregate, the Limited Partners receive distributions from the Partnership and the Stockholders receive dividends from the General Partner in an amount equal to the sum of (i) the Net Investment and (ii) any cumulative shortfall in the Limited Partners’ and the Stockholders’ receipt of the First Level Return pursuant to Sections Section 5.1(a) and this Section 5.1(b); and
(ii) Thereafter, (A) 15% to the Special Limited Partner, and (B) 85% to the General Partner and Limited Partners in accordance with each such Partner’s respective Percentage Interest.
Appears in 1 contract
Sources: Limited Partnership Agreement (American Realty Capital New York Recovery Reit Inc)
Capital Proceeds. Subject to the provisions of Sections 5.3, 5.4 5.4, and 12.2(c), Net Capital Proceeds shall be distributed as follows:
(i) First, 100% to the General Partner and Limited Partners in accordance with each such Partner’s respective Percentage Partnership Interest until, in the aggregate, the Limited Partners receive distributions from the Partnership and the Stockholders receive dividends from the General Partner in an amount equal to the sum of (i) the Net Investment and (ii) any cumulative shortfall in the Limited Partners’ and the Stockholders’ receipt of the First Level Return pursuant to Sections 5.1(a) and 5.1(b); and
(ii) Thereafter, (A) 15% to the Special Limited Partner, and (B) 85100% to the General Partner and Limited Partners in accordance with each such Partner’s respective Percentage Interest.
Appears in 1 contract
Sources: Agreement of Limited Partnership (Carter Validus Mission Critical REIT, Inc.)
Capital Proceeds. Subject to the provisions of Sections 5.3, 5.4 and 12.2(c), Net Capital Proceeds shall be distributed as follows:
(i) First, 100% to the General Partner and Limited Partners in accordance with each such Partner’s respective Percentage Interest untiluntil , in the aggregate, the Limited Partners receive distributions from the Partnership and the Stockholders receive dividends from the General Partner in an amount equal to the sum of (i) the Net Investment and (ii) any cumulative shortfall in the Limited Partners’ and the Stockholders’ receipt of the First Level Return pursuant to Sections 5.1(a) and 5.1(b); and
(ii) Thereafter, (A) 15% to the Special Limited Partner, and (B) 85% to the General Partner and Limited Partners in accordance with each such Partner’s respective Percentage Interest.
Appears in 1 contract
Sources: Limited Partnership Agreement (Carter Validus Mission Critical REIT, Inc.)