Capital Event Proceeds definition
Capital Event Proceeds means any cash proceeds of a Capital Event received by Borrower net of any cash prorations, adjustments and credits with respect to such Capital Event and net of reasonable third-party expenses paid in connection with such Capital Event.
Capital Event Proceeds means Net Sales Proceeds, Net Disposition Proceeds and Net Financing Proceeds, collectively.
Capital Event Proceeds means (i) any proceeds received by the Company from the sale or other disposition of any property or asset held, directly or indirectly, by the Company or (ii) financing proceeds received by the Company from a loan or similar financing transaction under which the repayment obligations are secured by a pledge, directly or indirectly, of Whitehall’s interest in the Company or any of its subsidiaries, the Company’s direct or indirect interest in any of its subsidiaries, or any of the properties or other assets of the Company or its subsidiaries, in the case of each of (i) and (ii) net of all out-of-pocket transaction costs (as determined by Whitehall), which, for certainty, shall include any such costs payable to affiliates of Whitehall. Notwithstanding the forgoing, in no event shall the definition of “Capital Event Proceeds” hereunder include any proceeds that are borrowed pursuant to the Initial Financing or pursuant to a loan that is (x) fully recourse to any of Whitehall Finance, Whitehall Parallel or Whitehall Street Global Real Estate Limited Partnership ▇▇▇▇ (“▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇”) or (y) is secured by a significant portion of the assets of Whitehall Finance, Whitehall Parallel or Whitehall Street (which significant portion, for certainty, shall not be comprised only of Whitehall’s interest in the Company).
Examples of Capital Event Proceeds in a sentence
For the purpose of the Transaction Documents, IMT Capex will be deemed recouped solely from distributions of Capital Event Proceeds (as defined in the Operating Agreement).
Notwithstanding any provision of this Agreement to the contrary, all Operating Proceeds shall be Distributed to the Members prior to any Distribution of any Capital Event Proceeds to the Members.
All Capital Event Proceeds shall be Distributed to the Members in accordance with their respective book Capital Accounts.
More Definitions of Capital Event Proceeds
Capital Event Proceeds means the net cash and/or property realized by the Fund from a Capital Event after deduction of all expenses and fees incurred and paid in connection with the Capital Event and application of the gross cash and/or property proceeds, at the sole discretion of the Manager, to the retirement of the indebtedness of the Fund and to the establishment and funding of reserves.
Capital Event Proceeds has the meaning set forth in Section 5.2(b).
Capital Event Proceeds has the meaning set forth in the Subsidiary REIT Agreement.
Capital Event Proceeds means all cash proceeds received by Company from a Capital Event.
Capital Event Proceeds means the net cash proceeds received by any member of the Group from the issuance or sale of Financial Indebtedness or equity interests to persons which are not members of the Group other than:
Capital Event Proceeds means the net proceeds (i.e., the amounts received as a result of a Capital Event which exceeds the costs and expenses incurred in such Capital Event) to Borrower from any Capital Event, including but not limited to: (i) net proceeds from the sale, transfer, disposition, conveyance or refinancing of all or any portion of any Property; (ii) Loss Proceeds in respect of a Casualty or Condemnation of all or any portion of the Properties, if such proceeds are not used to rebuild or restore such Properties, or are not governed by another document in accordance with Section 3.2.2; (iii) net proceeds from the issuance of any debt or equity securities by Borrower; (iv) net proceeds from the incurrence of any indebtedness for borrowed money by Borrower; or (v) any net proceeds from a transaction or arrangement with any Person whereby Borrower shall sell or transfer any Property and then or thereafter rent or lease back the same Property which it intends to use for substantially the same purposes as the Property sold or transferred; provided that all such proceeds shall be net of reasonable out-of-pocket transaction costs and income or other taxes payable by Borrower as a result of such Capital Event and, in the case of the sale or other disposition of any Property, net of payment of any debt secured by such Property or Properties.
Capital Event Proceeds means, without duplication of any items, all payments and proceeds received by or for the account of Lessee for or in respect of (i) any Casualty (excluding the proceeds from any business interruption insurance coverage), (ii) any Appropriation (except to the extent representing an Award for loss of revenues or income during the period of any temporary Appropriation), (iii) any sale, transfer or other disposition of all or substantially all of Lessee’s leasehold interest in the Premises or this Lease, (iv) any sale, transfer or other disposition of any capital assets or other items, other than in the ordinary course of the business of operation of the Hotel; (v) any recovery under any policy of insurance maintained by Lessee with respect to the Premises (excluding the proceeds from any business interruption insurance coverage), or (vi) any Lessee Loan or any Equipment Financing. Subject to compliance by Lessee with the provisions of Section 17 with respect to any Casualty Proceeds or Award, the requirements of this Lease that the Hotel be operated at all times as a Luxury Hotel, and any other express provisions of this Lease, Lessee shall have the exclusive right to use and apply any Capital Event Proceeds in Lessee’s sole discretion.