Capital Event means a sale or disposition of any of the Company's capital assets, the receipt of insurance and other proceeds derived from the involuntary conversion of Company property, the receipt of proceeds from a refinancing of Company property, or a similar event with respect to Company property or assets.
The term Capital Event means and includes: (i) any transaction involving the sale, exchange or other disposition of the Project or the Company (but excluding any incidental sales or exchanges of tangible personal property and fixtures), (ii) any financing, refinancing or borrowing secured by the Project or the Company, and (iii) any condemnation or recovery of damage awards and property insurance proceeds (excluding proceeds from any rent or business interruption insurance).
Subject to the provisions of Sections 5.3, 5.4, 8.6(b), 11.6(d) and 13.2, the General Partner shall cause the Partnership to distribute to the Partners as of the applicable Partnership Record Date, at such times as the General Partner shall determine, amounts of Available Operating Cash, Net Sales Proceeds and Net Capital Event Proceeds in the manner set forth in this Section 5.1.
The Company Preferred Securities may not be redeemed before the Dividend Payment Date regularly scheduled to occur in ____ 20*, unless a Tax Event, -33- an Investment Company Act Event or a Capital Event occurs, in which case the Company may redeem the Company Preferred Securities in whole (but not in part) at any time on not less than 30 nor more than 60 days' notice.
The Company will also have the right to redeem the Company Preferred Securities in whole (but not in part) at any time prior to the Dividend Payment Date regularly scheduled to occur in ____ 20*, upon the occurrence of a Tax Event, an Investment Company Act Event or a Capital Event.
Section 2.1(a) to the contrary, all Unvested Securities shall accelerate and immediately become Vested Securities, without any further action of the Company required, upon the consummation of a Capital Event.