Capital Proceeds. Subject to the provisions of Sections 5.3, 5.4, 12.2(c) and 15.14, 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 the Net Investment balance is zero; (ii) Second, 100% to the General Partner and Limited Partners in accordance with each such Partner’s respective Percentage Interest until the First Level Return balance is zero; and (iii) Thereafter, (A) 15% to the Special Limited Partner, and (B) 85% to the General Partner and Limited Partners in the case of this clause (B) in accordance with each such Partner’s respective Percentage Interest.
Appears in 3 contracts
Sources: Limited Partnership Agreement (American Realty Capital New York Recovery Reit Inc), Limited Partnership Agreement (American Realty Capital New York Recovery Reit Inc), Limited Partnership Agreement (American Realty Capital New York Recovery Reit Inc)