Common use of Capital Transaction Clause in Contracts

Capital Transaction. Capital Transaction"shall mean any transaction pursuant to, which (a) Palace borrows funds, (b) all or part of Palace's properties are sold, condemned, exchanged, abandoned or otherwise disposed of, (c) insurance proceeds or other damages are recovered by Palace, or (d) any other transaction that, in accordance with generally accepted accounting principles consistently applied, is considered capital in nature (including, without limitation, any transaction that is entered into in connection with, or results in, the Liquidation of Palace).