Distributions of Sale Proceeds Sample Clauses

Distributions of Sale Proceeds. Subject to the terms of the Project Documents and to the provisions of Section 6.3, any Sale Proceeds shall be distributed in the following amounts and order of priority: First, to discharge, to the extent required by the documents relating to the Mortgage Loan, the debts and obligations of the Partnership owed to the holder of the Mortgage; Second, to the payment of any unpaid Project Expenses and any expenses associated with the transaction generating such Sale Proceeds, including, without limitation, prepayment penalties, brokerage fees, legal fees and application fees; Third, to fund reserves for contingent or unforeseen liabilities or obligations of the Partnership to the extent deemed reasonable by General Partner; Fourth, to the payment of any unpaid Investment Servicing Fee; Fifth, to pay any unpaid Excess Adjustment; Sixth, to the repayment of any unpaid Investor Limited Partner Loans, together with all interest on such Investor Limited Partner Loans, and any unpaid Voluntary General Partner Loans, together with all interest on such Voluntary General Partner Loans, such amounts to be paid on a pari passu, pro rata basis based on the outstanding amounts of such loans; Seventh, to the repayment of the Subordinated Partner Loans, together with all interest on such Subordinated Partner Loans, such amounts to be paid on a pari passu, pro rata basis based on the outstanding amounts of such Subordinated Partner Loans; Eighth, to pay any unpaid portion of the Development Fee and the outstanding balance of the Development Fee Note; Ninth, to pay any outstanding Operating Deficit Loans, with payments to be applied first to accrued but unpaid interest and then to principal; Tenth, to the payment of any outstanding Excess Adjustment Loans, with payments to be applied first to accrued but unpaid interest and then to principal; Eleventh, if Investor Limited Partner's Capital Account has a negative balance prior to the transaction giving rise to the Sale Proceeds, to Investor Limited Partner in an amount equal to the Priority Amount; Twelfth, if a payment was made to Investor Limited Partner under Clause Eleventh immediately above, then to General Partner, in an amount equal to the Priority Amount; Thirteenth, if no Debt Service Coverage Loan has theretofore been made, the balance to be distributed as follows: 70% to General Partner, 29.99% to Investor Limited Partner, and 0.01% to Special Limited Partner; and Fourteenth, if a Debt Service Coverage Loan has ther...
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Distributions of Sale Proceeds. 54 Section 6.3 Liquidation. . . . . . . . . . . . . . . . . . . . . . . 55 Section 6.4
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Distributions of Sale Proceeds. Except as otherwise provided in Section 8(f) and Section 8(i), the General Partner shall distribute, or use, and shall cause its Component Entities to distribute or use, all Sale Proceeds as follows:
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Distributions of Sale Proceeds. Except as otherwise provided in Section 2(f) of this Schedule 2 and Sections 8(f) and 8(j) of the Articles Supplementary, the Company shall distribute, or use, and shall cause its Component Entities to distribute or use, all Sale Proceeds and all Section 8(l) Proceeds as follows:
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Distributions of Sale Proceeds. (a) Except as otherwise provided in Section 8.02 in connection with the liquidation of the Partnership, Sale Proceeds will be distributed, as soon as practicable after the Partnership receives such proceeds, 99% to the Limited Partners and Unitholders considered as a class and 1% to the General Partners; provided, however, that after the Adjusted Contributions have been reduced to zero and the Target Return on Adjusted Contribution Accounts has been paid on a cumulative basis, such distribution shall be subordinated to the payment of any accrued but unpaid Incentive Fee or Termination Fee then owed to the General Partners in accordance with Sections 5.03(b)(v) and 5.03(b)(vi).
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Related to Distributions of Sale Proceeds

  • Distributions of Special Payments 25 SECTION 2.5. DESIGNATED REPRESENTATIVES...................................................................... 28 SECTION 2.6. CONTROLLING PARTY............................................................................... 29 ARTICLE III RECEIPT, DISTRIBUTION AND APPLICATION OF AMOUNTS RECEIVED........................................... 31

  • Distributions of Net Cash Flow The Net Cash Flow of the Partnership for each calendar year, shall be distributed to the Partners from time to time, in the discretion of the General Partner, in accordance with the Percentage Interests of the Partners.

  • Distributions of Available Cash An amount equal to 100% of Available Cash with respect to each fiscal quarter shall be distributed to the Members in proportion to their relative Percentage Interests within forty-five (45) days after the end of such fiscal quarter; provided, that such distributions shall be made promptly following receipt of any distribution pursuant to Section 6.3(a) of the Partnership Agreement.

  • Distributions of Cash (a) The Partnership shall distribute cash on a quarterly (or, at the election of the General Partner, more frequent) basis, in an amount determined by the General Partner in its sole and absolute discretion, to the Partners who are Partners on the Partnership Record Date with respect to such quarter (or other distribution period) in the following manner: (i) first, to the General Partner in an amount equal to the GP Minimum Return with respect to the fiscal year of the General Partner; (ii) second, to the Limited Partners pro rata among them in proportion to the their respective Unpaid Return, if any, owing to each such Limited Partners with respect to prior fiscal years, in an amount equal to their respective Unpaid Return for such prior fiscal years owing to each such Limited Partner; (iii) third, after the establishment of reasonable cash reserves to meet REIT Expenses and other obligations of the Partnership, as determined in the sole and absolute discretion of the General Partner, to the General Partner and the Limited Partners in such aggregate amount as may be determined by the General Partner in its sole and absolute discretion to be allocated among the General Partner and the Limited Partners such that each Limited Partner will receive an amount equal to its LP Return for such fiscal year; and (iv) finally, to the Partners in accordance with and in proportion to their respective Percentage Interests; provided, however, that if a new or existing Partner acquires an additional Partnership Interest in exchange for a Capital Contribution on any date other than a Partnership Record Date, the cash distribution attributable to such additional Partnership Interest relating to the Partnership Record Date next following the issuance of such additional Partnership Interest shall be reduced to the proportion thereof which equals (i) the number of days that such additional Partnership Interest is held by such Partner divided by (ii) the number of days between such Partnership Record Date and the immediately preceding Partnership Record Date. Notwithstanding the foregoing, however, the Original Limited Partner may, in its sole and absolute discretion, elect to defer any distribution to be made to it, in which case the amount so deferred shall be deemed to be an additional Capital Contribution made on behalf of the Original Limited Partner under Section 4.02(c) hereof, to be distributed to the Original Limited Partner upon liquidation of the Partnership under Section 5.06 hereof, or at such time as the Original Limited Partner may otherwise be allowed to withdraw from the Partnership after the Transfer Restriction Date.

  • Distributions of Cash Flow Cash flow for each taxable year of the Company shall be distributed to the Member at such times and in such amounts as the Member shall determine.

  • Distributions of Distributable Cash Except as otherwise provided in Article VII hereof, Distributable Cash for each Fiscal Year may be distributed to the Holders at such times, if any, and in such amounts as shall be determined in the sole discretion of the Trustees. In exercising such discretion, the Trustees shall distribute such Distributable Cash so that Holders that are regulated investment companies can comply with the distribution requirements set forth in Code Section 852 and avoid the excise tax imposed by Code Section 4982.

  • Limited Distributions of Income from Trust Account (a) Upon written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit C, the Trustee shall distribute to the Company the amount of interest income earned on the Trust Account requested by the Company to cover any income or other tax obligation owed by the Company.

  • Distributions of Available Cash from Capital Surplus Available Cash that is deemed to be Capital Surplus pursuant to the provisions of Section 6.3(a) shall, subject to Section 17-607 of the Delaware Act, be distributed, unless the provisions of Section 6.3 require otherwise, 100% to the General Partner and the Unitholders in accordance with their respective Percentage Interests, until a hypothetical holder of a Common Unit acquired on the Closing Date has received with respect to such Common Unit, during the period since the Closing Date through such date, distributions of Available Cash that are deemed to be Capital Surplus in an aggregate amount equal to the Initial Unit Price. Available Cash that is deemed to be Capital Surplus shall then be distributed (A) to the General Partner in accordance with its Percentage Interest and (B) to all Unitholders holding Common Units, Pro Rata, a percentage equal to 100% less the General Partner’s Percentage Interest, until there has been distributed in respect of each Common Unit then Outstanding an amount equal to the Cumulative Common Unit Arrearage. Thereafter, all Available Cash shall be distributed as if it were Operating Surplus and shall be distributed in accordance with Section 6.4.

  • Distributions from Collection Account Subject to Section 8.2(e), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Collection Account and make deposits and payments, to the extent of Available Funds in the Collection Account for that Payment Date, in the following order of priority (pro rata within each priority level based on the amounts due except as otherwise stated):

  • Distribution of Liquidation Proceeds Subject to the terms and conditions hereof, the Administrative Agent shall distribute all Liquidation Proceeds in the order and manner set forth below:

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