FIRST CONTINGENT RETURN definition
FIRST CONTINGENT RETURN means an additional contingent return to Lender that calculation of which shall be limited to the extent of any Net Profits after the Borrower's First Priority Return (as that term is defined herein) in an amount equal to an additional return on amounts which have been advanced pursuant to the Loan, based on the amount of time that such funds have been outstanding, at a rate equal to four (4%) percent per annum compounded monthly.
FIRST CONTINGENT RETURN means an additional contingent return which shall be limited to the extent of any "Net Profits" after the Borrower's First Priority Return [where "NET PROFITS" shall mean all revenues or other proceeds from the Collateral or the Project ("REVENUES") after payment of debt service and any necessary Project expenses not funded from the proceeds of the Loan, the Chase Federal Loan or such other loan as is approved by the Lender, if approved by the Lender in a budget acceptable to the Lender ("EXPENSES"), which shall include debt service on the Loan and the Chase Federal Loan, and release prices under the Chase Federal Loan, all as more particularly specified in the Loan Documents] in an amount equal to an additional return on amounts which have been advanced pursuant to the Loan, based on the amount of time that such funds have been outstanding, at a rate equal to four (4%) percent per annum compounded monthly. The First Contingent Return shall not be paid to the Lender unless and until all principal and interest pursuant to the Loan, including, without limitation, accrued and capitalized interest, have been paid or repaid to the Lender and the Borrower has received the Borrower's First