Definition of Capital Event

  1. Capital Event means (i) the sale of any Asset, (ii) a financing or refinancing of an Asset, (iii) the receipt of insurance proceeds or condemnation awards in connection with the ownership of an Asset (which proceeds are not used for restoration in connection with the applicable casualty or condemnation) or (iv) other transactions which, in accordance with generally accepted accounting principles, consistently applied, would be treated as a capital event.

Examples of Capital Event in a sentence

  1. 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).
  2. The Borrowers hereby confirm that the Capital Event occurred on April 28, 2015 (the "Collateral Fallaway Date").

Definition of Capital Event in Operating Agreement

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.

Definition of Capital Event in Limited Partnership Agreement

Capital Event means any Partnership transaction not in the ordinary course of its business including, without limitation, principal payments, prepayments, the incurrence of prepayment penalties, refinancing, sales, exchanges, foreclosures, or other dispositions of property directly or indirectly owned by the Partnership and recoveries of damage awards and insurance proceeds not used to rebuild (other than the receipt of contributions to the capital of the Partnership and business or rental interruption insurance proceeds not used to rebuild).

Definition of Capital Event in Limited Liability Company Agreement

Capital Event means: (i) any refinancing, sale, exchange, transfer, condemnation or other disposition of all or a portion of a property, facility, business, subsidiary or division of the Company, including any debt or equity interest therein; (ii) a sale of all or substantially all of the Company's assets; or (iii) proceeds generated from the sale by the Company of equity interests or acceptance of Capital Contributions, including the sale of equity interests in any subsidiary or in connection with the formation of a joint venture.