Common use of Payment Due on Capital Transaction Clause in Contracts

Payment Due on Capital Transaction. Notwithstanding any other provision to the contrary, subject to Section 5.03 below, if there is a Capital Transaction, then the Borrower shall distribute fifty percent (50%) of the Net Proceeds resulting from the Capital Transaction to the County Board as a payment on the then outstanding principal and accrued interest on the County Loans; provided that the distribution of Net Proceeds to the County Board shall not exceed the then outstanding principal and accrued interest on the County Loans.

Payment Due on Capital Transaction. Notwithstanding any other provision to the contrary, subject to Section 5.03 belowof the Loan Agreement, if there is a Capital Transaction, then the Borrower shall distribute fifty percent (50%) of the Net Proceeds resulting from the Capital Transaction to the County Board as a payment on the then outstanding principal and accrued interest on the County Loans; provided that the distribution of Net Proceeds to the County Board shall not exceed the then outstanding principal and accrued interest on the County LoansCDBG Loan.

Payment Due on Capital Transaction. Notwithstanding any other provision to the contrary, subject to Section 5.03 below, if there is a Capital Transaction, then the Borrower shall distribute fifty percent (50%) of the Net Proceeds resulting from the Capital Transaction to the County Board as a payment on the then outstanding principal and accrued interest on the County LoansCDBG Loan; provided that the distribution of Net Proceeds to the County Board shall not exceed the then outstanding principal and accrued interest on the County LoansCDBG Loan.

Payment Due on Capital Transaction. Notwithstanding any other provision to the contrary, subject to Section 5.03 below, if there is a Capital Transaction, then the Borrower shall distribute fifty twenty-five percent (5025%) of the Net Proceeds resulting from the Capital Transaction to the County Board as a payment on the then outstanding principal and accrued interest on the County Loans; provided that the distribution of Net Proceeds to the County Board shall not exceed the then outstanding principal and accrued interest on the sum of the County Loans.