Net Contribution Value definition
Net Contribution Value means, with respect to the applicable Contributed Facilities, the Gross Contribution Value therefor, minus the entire outstanding principal balance of the applicable Permitted Debt as of the Closing Date
Net Contribution Value shall have the meaning given such term in Section 2.2(a).
Net Contribution Value means the Gross Asset Value of a Water Asset less the amount of any indebtedness or similar obligations encumbering the Water Asset on the date of contribution.
Examples of Net Contribution Value in a sentence
After the foregoing assumption of the First PCJL Note, the Net Contribution Value of the Original Contribution made by PCI shall be $6,583,415.
Upon redemption of any of the Senior Preferred Stock (A) the accrued but unpaid dividend with respect to such redeemed Senior Preferred Stock shall also be paid to the holder of the Senior Preferred Stock being so redeemed and (B) the Net Contribution Value shall be reduced for purposes of determining the dividend to be earned thereon.
Any Sale Payments (herein below defined) paid with respect to the Senior Preferred Stock pursuant to this Agreement (x) shall reduce the Net Contribution Value by the amount of such Sale Payment when such Sale Payment is made and (y) shall be credited to the next Redemption Payment required to be made by American Spectrum Realty.
Participation Payments (herein below defined) shall not reduce the Net Contribution Value or be credited to any Redemption Payment.
Such prorations, if and to the extent known and agreed upon by American Spectrum as of the Closing Date, shall be paid by American Spectrum to ▇▇▇▇▇▇ (if the prorations result in a net credit to ▇▇▇▇▇▇) by increasing the Net Contribution Value by the amount owed to ▇▇▇▇▇▇, or by ▇▇▇▇▇▇ to American Spectrum ▇▇▇▇▇▇ Properties (if the prorations result in a net credit to American Spectrum ▇▇▇▇▇▇ Properties), by decreasing the Net Contribution Value by the amount owed to American Spectrum ▇▇▇▇▇▇ Properties.
More Definitions of Net Contribution Value
Net Contribution Value means with respect to the cumulative assets contributed by a Member to the Company, the aggregate Gross Asset Values of such assets reduced by the recourse and nonrecourse liabilities of such Member assumed by the Company. "net fair market value" shall have the meaning provided in Section 3.5. "Notice Member" shall have the meaning provided in Section 11.7(b). "Optional Liquidation Events" shall have the meaning provided in Section 11.7(a). "Optional Liquidation Notice" shall have the meaning provided in Section 11.7(b). "Original Contribution" means, with respect to any Member, any Contribution provided by such Member as of the Effective Date or the day thereafter. "Parent" shall mean for any Member, any company, joint venture, limited liability company, association or other entity which itself or as part of a "group" (within the meaning of Sections 13(d) and 14(d)(2) of the Exchange Act) legally or beneficially owns 50% or more of the outstanding voting securities or interests of such Member, the holders of which are generally entitled to vote for the election of the board of directors or other governing board of such Member. "Payment Date" shall have the meaning provided in Section 3.2(b). "PCI" means Potomac Capital Investment Corporation, a Delaware corporation. "PCI Contribution Agreement" means the Contribution Agreement of even date herewith and attached hereto as Exhibit G pursuant to which PCI made, and will make, certain contributions to the Company. "PCI Note" has the meaning provided in clause (i) of the definition of "Permitted Investment" "PCJL" shall have the meaning provided in Section 2.2. "PCJL Notes" means the First PCJL Note and the Second PCJL Note. "Permitted Investments" mean:
Net Contribution Value of an Investment Property means an amount equal to the Gross Contribution Value (net of any debt assumed by the Operating Partnership) of the Investment Property.
Net Contribution Value means, with respect to the cumulative assets contributed by a Member to the Company, the Gross Asset Value of such assets reduced by the recourse and nonrecourse liabilities of such Member assumed by the Company. "Net Lease" means a lease under which the lessor will not, directly or indirectly, provide for or be obligated to provide for (i) the servicing, repair or maintenance of the leased property during the lease term; (ii) the purchasing of parts and accessories for the leased property; (iii) the loan of replacement or substitute property while the leased property is being serviced; (iv) the purchasing of insurance for the lessee except where the lessee has failed in its contractual obligation to purchase or maintain the required insurance; and (v) the renewal of any license or registration for the leased property, unless such action by the lessor is clearly necessary to protect its interest as an owner or financier of the leased property, provided that, in the event of any changes in any applicable state or federal banking law after the Effective Date, the meaning of "Net Lease" shall be changed accordingly. "Nonrecourse Deductions" has the meaning set forth in Section 1.704-2(b)(1) of the Regulations. "Nonrecourse Liability" has the meaning set forth in Section 1.704-2(b)(3) of the Regulations. "Parent" means (i) in the case of PCI Air Co, PCI, (ii) in the case of AMP Funding, PCI, and (iii) in the case of AM-BT Nevada, Inc., Bankers Trust New York Corporation. "PCI" means Potomac Capital Investment Corporation, a Delaware corporation. "PCI Air LLC" means PCI Air Management Partners, L.L.C., a Delaware limited liability company. "PCI Master Lease" has the meaning set forth in Section 5.2(f)(i). "PCI Note" has the meaning set forth in clause (i) of the definition of "Permitted Investment". "PCJL" means Potomac Capital Joint Leasing Corporation, a Delaware corporation. "PCJL Notes" has the meaning set forth in Section 2.2 hereof "Percentage Interest" means, with respect to each Member, as of the date hereof, the Percentage Interest of such Member set forth in Section 2.1 hereof. In the event all or any portion of an Interest is Transferred in accordance with the terms of this Agreement other than pursuant to a pledge or hypothecation, the transferee shall succeed to a corresponding portion of the Percentage Interest of the transferor. "Permitted Investments" mean:
Net Contribution Value means with respect to the cumulative assets contributed by a Member to the Company, the aggregate Gross Asset Values of such assets reduced by the recourse and nonrecourse liabilities of such Member assumed by the Company. "net fair market value" shall have the meaning provided in Section 3.5. "Notice Member" shall have the meaning provided in Section 11.7(b). 10 _____________________________________________________________________________
Net Contribution Value means with respect to the cumulative assets contributed by a Member to the Company, the Gross Asset Value of such assets reduced by the recourse and nonrecourse liabilities of such Member assumed by the Company. "Net Lease" means a lease under which the lessor will not, directly or indirectly, provide for, or be obligated to provide for (i) the servicing, repair or maintenance of the leased property during the lease term; (ii) the purchasing of parts and accessories for the leased property; (iii) the loan of replacement or substitute property while the leased property is being serviced; (iv) the purchasing of insurance for the lessee except where the lessee has failed in its contractual obligation to purchase or maintain the required insurance; and (v) the renewal of any license or registration for the leased property, unless such action by the lessor is clearly necessary to protect its interest as an owner or financier of the leased property, provided that, in the event of any changes in any applicable state or federal banking law after the Effective Date, the meaning of "Net Lease" shall be changed accordingly. "Nonrecourse Deductions" has the meaning set forth in Section 1.704-2(b)(1) of the Regulations. "Nonrecourse Liability" has the meaning set forth in Section 1.704-2(b)(3) of the Regulations. "Parent" means, in the case of PCI Air Co, PCI. "PCF" means Potomac Capital Investment Corporation, a Delaware corporation. "PCI Master Lease" has the meaning set forth in Section 5.2(d)(i). "PCI Note" has the meaning set forth in clause (i) of the definition of "Permitted Investment". "Percentage Interest" means, with respect to each Member, as of the date hereof, the Percentage Interest of such Member set forth in Section 2. 1 hereof In the event all or any portion of an Interest is Transferred in accordance with the terms of this Agreement other than pursuant to a pledge or hypothecation, the transferee shall succeed to a corresponding portion of the Percentage Interest of the transferor. "Permitted Investments" mean:
Net Contribution Value means the Contribution Value less the sum of the principal amount of the Existing Financing on the Closing plus or minus any adjustments to be debited or credited, as applicable, to American Spectrum pursuant to Section 6.6.
Net Contribution Value means an amount equal to Ninety-Three Million, Six-Hundred-Three Thousand, One-Hundred Fourteen and No/100ths Dollars ($93,603,114.00), which amount reflects the Contribution Value as adjusted for the prorations and adjustments reflected on the Closing Statement.