Deemed Distributions. Borrower represents that any transfer by Mortgage Lender of Owner’s funds (whether pursuant to Section 2.4.4, Section 6.11 or otherwise under the Mortgage Loan Agreement) to Lender pursuant to the Mortgage Loan Agreement or any other Mortgage Loan Document is intended by Borrower to constitute, and Borrower represents that such transfers shall constitute, distributions from Owner to Borrower and shall be treated as such on the books and records of Borrower and Owner. Borrower agrees that all such distributions shall comply with the requirements of Section 18-607 of the Delaware Limited Liability Company Act. Borrower agrees that no provision herein or in any other Loan Document is intended by Borrower to, nor shall any such provision be construed to create, a debtor-creditor relationship between Owner and Borrower.
Deemed Distributions. Borrower represents that any transfer by Lender of Borrower’s funds (whether pursuant to Section 2.4.4, Section 6.11 or otherwise) to any Mezzanine Lender pursuant to this Agreement or any other Loan Document is intended by Borrower to constitute, and Borrower represents that such transfers shall constitute, distributions from Borrower to Original Mezzanine Borrower, and (where applicable) Original Mezzanine Borrower to Approved Mezzanine Borrower, and shall be treated as such on the books and records of Borrower and Mezzanine Borrower. Borrower agrees that all such distributions shall comply with the requirements of Section 18-607 of the Delaware Limited Liability Company Act. Borrower agrees that no provision herein or in any other Loan Document is intended by Borrower to, nor shall any such provision be construed to create, a debtor-creditor relationship between Borrower and Mezzanine Borrower.
Deemed Distributions. Any amounts withheld by the General Partner in accordance with Section 6.7(a) shall nevertheless, for purposes of this Agreement, be deemed to have been distributed to the Limited Partners in respect of which they are withheld.
Deemed Distributions. Borrower represents that any transfer by Lender of Borrower’s funds (whether pursuant to Section 2.4.4, Section 6.11 or otherwise) to any Mezzanine Lender pursuant to this Agreement or any other Loan Document is intended by Borrower to constitute, and Borrower represents that such transfers shall constitute, distributions from Borrower to Mezzanine Borrower, and shall be treated as such on the books and records of Borrower and Mezzanine Borrower. Borrower agrees that all such distributions shall comply with the requirements of Section 18-607 of the Delaware Limited Liability Company Act. Borrower agrees that no provision herein or in any other Loan Document is intended by Borrower to, nor shall any such provision be construed to create, a debtor-creditor relationship between Borrower and Mezzanine Borrower.
Deemed Distributions. Any amounts withheld by the Managers in accordance with Section 6.7(a) shall nevertheless, for purposes of this Agreement, be deemed to have been distributed to the Members in respect of which they are withheld.
Deemed Distributions. In the event of a Permitted Asset Transfer in which the Company receives consideration with a value less than the Fair Value of the asset(s) subject to such Permitted Asset Transfer, the excess of the Fair Value of such asset(s) over the consideration received therefor (such excess, the “Deemed Distribution Amount”) shall be deemed to be a distribution to the KCS Member, and the NS Member shall be entitled to, in its sole discretion: (a) an immediate cash payment from the KCS Member equal to the NS Member’s pro rata share of the Deemed Distribution Amount based on its Percentage Interest or (b) an immediate cash payment from the Company equal to the product of (i) such Deemed Distribution Amount and (ii) a fraction, the numerator of which is the NS Member’s Percentage Interest and the denominator of which is the KCS Member’s Percentage Interest.
Deemed Distributions. Borrower represents that any transfer by Lender of Borrower’s funds (whether pursuant to Section 5.4(b), Section 6.13 or otherwise) to or for the benefit of any Mezzanine Loan Borrower pursuant to this Agreement or any other Loan Document is intended by Borrower to constitute, and Borrower represents that such transfers shall constitute, distributions from Borrower to Current Mezzanine Loan Borrower (or, if any New Mezzanine Loan exists, from Borrower to New Mezzanine Loan Borrower and (where applicable) from New Mezzanine Loan Borrower to Current Mezzanine Loan Borrower), and shall be treated as such on the books and records of Borrower and Mezzanine Loan Borrower. Borrower agrees that all such distributions shall comply with the requirements of Section 18-607 of the Delaware Limited Liability Company Act. Borrower agrees that no provision herein or in any other Loan Document is intended by Borrower to, nor shall any such provision be construed to create, a debtor-creditor relationship between Borrower and any Mezzanine Loan Borrower or any Mezzanine Loan Lender.
Deemed Distributions. Borrower represents that any transfer by Mortgage Lender of Owner’s funds (whether pursuant to Section 2.4.4, Section 6.11 or otherwise under the Mortgage Loan Agreement) to Lender or Approved Mezzanine Lender pursuant to the Mortgage Loan Agreement or any other Mortgage Loan Document is intended by Borrower to constitute, and Borrower represents that such transfers shall constitute, distributions from Owner to Borrower and (where applicable) Borrower to Approved Mezzanine Borrower, and shall be treated as such on the books and records of Borrower, Owner and Approved Mezzanine Borrower. Borrower agrees that all such distributions shall comply with the requirements of
Deemed Distributions. In the event a governmental authority makes an adjustment described in Section 5(c) of Appendix B that results in a Member being deemed to have paid an amount to the Company, the amount will be deemed to have been distributed 100% to that Member if necessary to cause the relative Capital Accounts of the Members to be in accordance with their relative Percentage Interests.
Deemed Distributions. In circumstances where the General Partner is issuing a Capital Call Notice at the same time as the General Partner is making a distribution of Investment Proceeds pursuant to this Article 5, the General Partner may deem such distributions as having been distributed to the Partners with an interest in such distributions in accordance with Section 5.2.1 or Section 5.12, as applicable, and deemed immediately contributed as new Capital Contributions to the Fund by such Partners, with effect from the date such distributions would otherwise have been distributed pursuant to Section 5.1.3. The Partners’ obligation to make Capital Contributions under the relevant Capital Call Notice will be reduced accordingly. The General Partner shall provide notice to the Limited Partners of any such deemed distributions and contributions and any resulting impact thereof on the Unused Capital Commitments of the Limited Partners.
