Net Refinancing Proceeds. The proceeds realized by the Partnership upon any refinancing of a Partnership indebtedness, net of expenses incident to such refinancing and satisfaction of any indebtedness being refinanced and any right of any other creditor of the Partnership (other than on account of a Partners' Loan or Partners' Priority Loan) or any tenant to receive such proceeds or a portion thereof for repayment of indebtedness or as additional interest.
Net Refinancing Proceeds. The Company shall distribute to the Members Net Refinancing Proceeds, said distributions to be made at the times determined by the Management Committee, in the following order of priority:
Net Refinancing Proceeds. The proceeds realized by the Company upon any refinancing of a Company indebtedness, net of expenses incident to such refinancing and the satisfaction of any indebtedness being refinanced and any right of any other creditor of the Company.
Net Refinancing Proceeds. “Net Refinancing Proceeds” shall mean the gross principal amount of any Financing Event after the Effective Date (plus in the case of secondary financing the original principal balance of any existing financing that is not repaid as a part of such secondary financing), minus (a) the greatest of (i) the Base Value plus the Improvement Costs incurred prior to the date of the current Financing Event as to which the amount of Net Refinancing Proceeds is then being calculated, (ii) the Prior Financing Event Principal Balance (as defined below), or (iii) in the case of a successor Lessee, the purchase price such successor paid to Lessee or such successor’s seller for the interest acquired, (b) any portion of the proceeds of the Financing Event which shall be used for Improvement Costs to be incurred after the date of the Financing Event, (c) other Improvement Costs incurred by Lessee and not paid for or repaid with the proceeds of any Financing Event (but without duplication to the extent included in the amount determined under clause (a) above), and (d) Documented Transaction Costs with respect to such Financing Event. Notwithstanding the foregoing, there shall be no double counting of Improvement Costs in clauses (a), (b) and (c) above. In addition, notwithstanding any contrary provision of Section 4.6 above pursuant to which a Net Proceeds Share would be due upon a Financing Event, if the purpose of a Financing Event is to fund the acquisition cost (or a portion of the acquisition cost) of a Change of Ownership that is not an Excluded Transfer, then to the extent that the gross principal amount of the Financing does not exceed the gross sale or transfer price of such Change of Ownership, and if the Financing Event is consummated concurrently with the consummation of the Change of Ownership, there shall not be any separate Net Proceeds Share payable in connection with such Financing Event.
Net Refinancing Proceeds. Subject to the terms of the Intercreditor Agreement, no later than the fifth Business Day after the date of receipt by Borrowers or any of their Subsidiaries (x) of Casden Net Refinancing Proceeds from any Refinancing Indebtedness, Borrowers shall prepay the Loans and pay accrued and unpaid interest thereon in an aggregate amount equal to, (1) on or after the date which is one year after the Closing Date, 75% of such Casden Net Refinancing Proceeds and (2) with respect to any Casden Net Refinancing Proceeds received after the occurrence and during the continuation of an Event of Default, 100% of such Casden Net Refinancing Proceeds and (y) upon the occurrence and during the continuation of a Revolver Payment Default, of Net Refinancing Proceeds from the refinancing of any loan, debt or other obligation secured in whole or in part by any asset (other than any Casden Asset), Borrowers shall prepay the Loans and pay accrued and unpaid interest thereon in an aggregate amount equal to 100%; provided, however, that, such Net Refinancing Proceeds received pursuant to clause (y) shall be used to first reduce outstanding obligations under the Revolving Credit Agreement, if any, until any such obligations are reduced to zero, and thereafter such Net Refinancing Proceeds shall be used to prepay the Loans; and
Net Refinancing Proceeds. “Net Refinancing Proceeds” shall mean the gross principal amount of any Financing Event after the date of this Contract, minus (i) the principal amount of Concessionaire’s existing financing, (ii) Improvement Costs incurred by Concessionaire and not paid for or repaid with the proceeds of any Financing Event and (iii) Documented Transaction Costs with respect to such Financing Event.
Net Refinancing Proceeds. No later than the fourth Business Day after the date of receipt by the REIT, Borrower or any of their Subsidiaries of Net Refinancing Proceeds from any Refinancing after the Closing Date, Borrower shall prepay all Term Loans in an aggregate amount equal to 100% of such Net Refinancing Proceeds.
Net Refinancing Proceeds. Subject to the terms of the Intercreditor Agreement, no later than the fourth Business Day after the date of receipt by the Borrowers or any of their Subsidiaries of Net Refinancing Proceeds from any Refinancing after the Amendment Effective Date, Borrowers shall prepay the Loans and pay accrued and unpaid interest thereon in an aggregate amount equal to 100% of such Net Refinancing Proceeds.
Net Refinancing Proceeds. “Net Refinancing Proceeds” shall mean the gross principal amount of any Financing Event after the Effective Date, plus in the case of secondary financing the original principal balance of any existing financing that is not repaid as a part of such secondary financing, minus (a) the greatest of (i) the Base Value plus Improvement Costs incurred prior to the date of the current Financing Event as to which Net Refinancing Proceeds is then being calculated, (ii) the original principal amount of any refinancing consummated after the Effective Date but prior to the then subject Financing Event (plus if the financing described in this clause (ii) was secondary financing, the original principal balance of any then existing financing that was not repaid as a part of such secondary financing), or (iii) in the case of a successor Lessee the purchase price such successor paid to Lessee or such successor’s seller for the interest acquired, (b) any portion of the proceeds of the Financing Event which shall be used for Improvement Costs to be incurred after the date of the Financing Event, (c) other Improvement Costs incurred by Lessee and not paid for or repaid with the proceeds of any Financing Event (but without duplication to the extent included in the amount determined under clause (a) above), and (d) Documented Transaction Costs with respect to such Financing Event.
Net Refinancing Proceeds. Subject to the terms of the Intercreditor Agreement, no later than the fourth Business Day after the date of receipt by the REIT, Borrower or any of their Subsidiaries of Net Refinancing Proceeds from any Refinancing after the Closing Date, Borrower shall apply an aggregate amount equal to 100% of such Net Refinancing Proceeds to prepay the Loans and pay accrued interest thereon; provided, however, that Net Refinancing Proceeds from the refinancing of any loan, debt or other obligation secured in whole or in part by any Oxford Asset shall be used to first reduce outstanding obligations under the Bridge Credit Agreement, if any, until any such obligations are reduced to zero, and thereafter such Net Refinancing Proceeds shall be used to prepay the Loans.
