Funds Available for Distribution Clause Samples

Funds Available for Distribution. 10 C. Gain from Sale......................................................10 D. Loss from Sale......................................................10 E.

Funds Available for Distribution. Excess cash flow from operations (EBITDA) for the two (2) most recently ended quarters, minus (ii) Fixed Charges for the two (2) most recently ended quarters (excluding dividends and distributions paid on any Preferred Securities), minus (iii) any amounts by which the Required Capital Items Amount exceeds the then available balance of reserve and escrow accounts of the Borrower that may be utilized to pay for such Required Capital Items. GAAP. Principles that are (a) consistent with the principles promulgated or adopted by the Financial Accounting Standards Board and its predecessors, as in effect from time to time and (b) consistently applied with past financial statements of the Person adopting the same principles.

Funds Available for Distribution. As of any date of determination, an amount equal to the sum of (a) Consolidated EBITDA for the prior four (4) consecutive fiscal quarters most recently ended minus (b) all Fixed Charges for such period, minus (c) Recurring Capital Expenditures for such period. GAAP. Principles that are (a) consistent with the principles promulgated or adopted by the Financial Accounting Standards Board and its predecessors, as in effect from time to time and (b) consistently applied with past financial statements of the Person adopting the same principles. General Partner. Condor Hospitality REIT Trust, a Maryland real estate investment trust. Governmental Authority. Any national, state or local government (whether domestic or foreign), any political subdivision thereof or any other governmental, quasi‑governmental, judicial, public or statutory instrumentality, authority, body, agency, bureau, commission, board, department or other entity (including, without limitation, the Federal Deposit Insurance Corporation, the Comptroller of the Currency or the Federal Reserve Board, any central bank or any comparable authority) or any arbitrator with authority to bind a party at law, and including any supra-national bodies such as the European Union or the European Central Bank. Gross Hotel Revenues. All revenues and receipts of every kind derived from operating a Hotel Property and parts thereof, including, without limitation, income (from both cash and credit transactions), before commissions and discounts for prompt or cash payments, from rentals or sales of rooms, stores, offices, meeting space, exhibit space, or sales space of every kind; license, lease, and concession fees and rentals (not including gross receipts of licensees, lessees, and concessionaires); net income from vending machines; health club membership fees; food and beverage sales; parking; sales of merchandise (other than proceeds from the sale of FF&E no longer necessary to the operation of such Hotel Property); service charges, to the extent not distributed to the employees at such Hotel Property as, or in lieu of, gratuities; and proceeds, if any, from business interruption or other loss of income insurance; provided, however, that, Gross Hotel Revenues shall not include gratuities to employees of such Hotel Property; federal, state, or municipal excise, sales, use, or similar taxes collected directly from tenants, patrons, or guests or included as part of the sales price of any goods or services; insurance p...

Funds Available for Distribution. The entire Net Cash Flow of the Partnership shall be deemed available for distribution and shall be distributed to the Partners in accordance with the provisions of Section 5.03. The term "Net Cash Flow" shall mean the gross cash receipts from any source whatsoever derived from the operation of Partnership business (or any part thereof) (but not the proceeds of Partnership borrowings), proceeds received upon liquidation of the Partnership in accordance with the relevant provisions hereof, and proceeds from the sale of assets of the Partnership less, first, the payment of principal and interest (including the payment of principal and interest on loans made by the Partners to the Partnership) as the same become due to the holders of the indebtedness of the Partnership, second, the payment of operating expenses of the Partnership for such period, third, capital expenditures and fourth, such cash reserved for working capital in excess of $1,000 plus an amount equal to anticipated expenditures arising over the next two weeks.

Funds Available for Distribution. Consolidated net income (loss) of the Borrower and its Subsidiaries before extraordinary items, computed in accordance with generally accepted accounting principles, plus, to the extent deducted in determining net income (loss) and without duplication, (i) gains (or losses) from debt restructuring and sales of Mortgage Loans, (ii) non-recurring charges, (iii) real estate related depreciation, amortization and other non-cash charges, and (v) amortization of organizational expenses. generally accepted accounting principles. Principles that are (a) consistent with the principles promulgated or adopted by the Financial Accounting Standards Board and its predecessors, as in effect from time to time and (b) consistently applied with past financial statements of the Person adopting the same principles; provided that a certified public accountant would, insofar as the use of such accounting principles is pertinent, be in a position to deliver an unqualified opinion (other than a qualification regarding changes in generally accepted accounting principles) as to financial statements in which such principles have been properly applied. Guaranteed Pension Plan. Any employee pension benefit plan within the meaning of §3(2) of ERISA maintained or contributed to by the Borrower or any ERISA Affiliate the benefits of which are guaranteed on termination in full or in part by the PBGC pursuant to Title IV of ERISA, other than a Multiemployer Plan. Hazardous Substances. Collectively, any hazardous waste, as defined by 42 U.S.C. §9601(5), any hazardous substances as defined by 42 U.S.C. §9601(14), any pollutant or contaminant as defined by 42 U.S.C. §9601(33) or any toxic substances, oil or hazardous materials or other chemicals or substances regulated by any Environmental Laws.

Funds Available for Distribution. Fifty percent (50%) of the taxable income of the Company shall be paid to Aero Services International, Inc., on a quarterly basis beginning on June 30, 1996 (if such funds are available), until such time as Aero Services International, Inc. has received priority distributions in the amount of $150,000. Notwithstanding the foregoing, funds available for distribution as a result of the sale or other disposition of the capital assets of the Company other than in the ordinary course of business shall be paid to Aero Services International, Inc., until such time as total priority distributions to it total $150,000. All other funds available for distribution shall be allocated and distributed among the Members in proportion to their respective Interests at such time as the Members shall determine.

Funds Available for Distribution. As of any date of determination, an amount equal to the sum of (a) EBITDA for the prior four (4) consecutive calendar quarters most recently ended minus (b) all Fixed Charges for such period, minus (c) the amount by which the Required Capital Items Amount exceeds the balance of funds then on deposit in escrow and reserve accounts of the Borrower and its Subsidiaries available to the Borrower and its Subsidiaries and which may be utilized to pay for Required Capital Items. GAAP. Principles that are (a) consistent with the principles promulgated or adopted by the Financial Accounting Standards Board and its predecessors, as in effect from time to time and (b) consistently applied with past financial statements of the Person adopting the same principles. General Partner. SIPIVGP.

Funds Available for Distribution. As of any date of determination, an amount equal to the sum of (a) Consolidated EBITDA for the prior three (3) consecutive fiscal quarters most recently ended (for the initial Distribution pursuant to §8.7(b), and thereafter the prior four (4) consecutive fiscal quarters most recently ended minus (b) all Fixed Charges for such applicable period, minus (c) Recurring Capital Expenditures for such applicable period.