Net Proceeds from Sale definition

Net Proceeds from Sale means the gross proceeds from a sale of the Property minus all normal and customary closing costs payable by Lender in connection with such sale. Upon a sale or other transfer or conveyance of the Property in accordance with Section 5.4 above, the Net Proceeds from such sale shall be distributed as follows: (i) first, to Xxxxxxxxx Funding, L.L.C., a Delaware limited liability company (“Xxxxxxxxx”), to the extent necessary to satisfy amounts then due and owing to Xxxxxxxxx pursuant to the loan extended by Xxxxxxxxx (or by lenders for which Xxxxxxxxx acts as agent) to Borrower and secured by a first priority lien on the Property, as evidenced by that certain Loan Agreement dated as of March 16, 2007 between Borrower and Xxxxxxxxx, as amended and related Construction Deed of Trust and Fixture Filing, of even date therewith and recorded in the Official Records of Tarrant County Texas, under document number D207095284 (such Loan Agreement and Construction Deed of Trust and Fixture Filing, and all documents and instruments evidencing or securing the loan referenced in such Loan Agreement and Construction Deed of Trust and Fixture Filing being referred to herein as the “Xxxxxxxxx Loan Documents”); (ii) second, Eleven Million Dollars ($11,000,00.00) to Lender, plus any out-of-pocket expenses of Lender and advances of working capital made by Lender with respect to the Property after the Effective Date to satisfy operating cash shortfalls for the Property, plus any payments made by Lender to Xxxxxxxxx which reduces the principal amount due under the Xxxxxxxxx Loan Documents; (iii) third, Three Million Dollars ($3,000,000.00) to PHM Services; and (iv) fourth, after payments of the amounts described in subparts (i) through (iii) above, fifty percent (50%) to Lender and fifty percent (50%) to PHM Services. The rights of PHM Services under this Section 6 shall serve as separate and independent consideration for PHM Services’ agreement to serve as asset manager of the Property and to market the Property pursuant to Section 5 above.
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Net Proceeds from Sale means, on a sale of a Property, all receipts of the Limited Partnership arising from the Sale, including any principal and interest payments received by the Limited Partnership on any vendor financing taken back on such Sale, less the costs and expenses of the Sale.
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Net Proceeds from Sale means all receipts of the Limited Partnership arising from a Sale, including any principal and interest payments received on any vendor financing taken back on such Sale, less the costs and expenses of the Sale and amounts required to discharge any encumbrances registered against the Oil and Gas Properties.
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Examples of Net Proceeds from Sale in a sentence

  • A failure to complete and submit the required application information may result in an applicant not being eligible to receive CDBG, HOME or NAHTF resources.Department staff will utilize the closing statement from the sale of the subject property to ensure compliance with this policy for the Recapture of Net Proceeds from Sale of Homebuyer and Homeowner Projects.

  • Net Proceeds from Sale of BusinessThe balance of the purchase price for the sale of the business was $5,040,000.

  • Immediately upon receipt of the Net Proceeds from Sale or Disposition for any Container covered under this Section, Owner shall execute and deliver to Manager a xxxx of sale for such Container transferring title to such Container to Manager on an AS/IS WHERE/IS basis and warranting only good title thereto with respect to Owner and parties claiming by, through or under Owner.

  • If there are no Net Proceeds from Sale, then the City shall forgive the remaining balance of the loan.

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  • CM gives insight in the differences in level of development between the several sub-systems, and what consequences these differences have.

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  • Net Proceeds from Sale of the Vendor SharesThe estimated net proceeds attributable to the Vendors from the sale of the Vendor Shares after deducting the Vendors’ share of underwriting commission, placement commission and brokerage (estimated to be approximately S$1.3 million), will be approximately S$48.2 million.

  • Distributions of Net Proceeds from Sale Upon Dissolution - It is anticipated that net proceeds from a sale of the Properties or any final liquidation of the Partnership's assets will be distributed 99% to the Limited Partners and 1% to the General Partner until each Limited Partner has received from these and other payments an amount equal to any unpaid preferred return and his capital contribution (less prior distributions with respect thereof from a previous Interim Capital Transaction).

  • Notwithstanding the fees payable to the General Partner and/or its Affiliates as described in this section 12, the General Partner shall also be entitled to its allocation of Distributions of Cash Flow from Operations and Net Proceeds from Sale or Refinancing as set forth in Section 9 of this Agreement.


More Definitions of Net Proceeds from Sale

Net Proceeds from Sale means all receipts arising from a Sale including the amount of any mortgage taken back on such Sale, less the costs and expenses of such Sale, all as determined by the General Partner;
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Net Proceeds from Sale shall refer to the sale of the corporate entity and shall mean the net realized value after costs such as original licensing fees, marketing and closing costs.
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Net Proceeds from Sale the net proceeds that Seller will receive at Closing calculated consistently with Schedule 9.1(e). As of the date of this Agreement, the Net Proceeds From Sale are estimated to be $5,437,152.
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Related to Net Proceeds from Sale

  • Net Proceeds Amount means, with respect to any Transfer of any property by any Person, an amount equal to the difference of

  • Net Proceeds means, with respect to any event, the cash proceeds received by the Borrower or any Restricted Subsidiary in respect of such event net of (a) all Taxes paid (or reasonably estimated to be payable) by the Borrower or any of its Restricted Subsidiaries to third parties in connection with such event and the amount of any reserves established by the Borrower and its Restricted Subsidiaries to fund contingent liabilities reasonably estimated to be payable, that are directly attributable to such event (provided that any determination by the Borrower that Taxes estimated to be payable are not payable and any reduction at any time in the amount of any such reserves (other than as a result of payments made in respect thereof) shall be deemed to constitute the receipt by the Borrower at such time of Net Proceeds in the amount of the estimated Taxes not payable or such reduction, as applicable), (b) all brokerage commissions and fees, attorneys’ fees, accountants’ fees, investment banking fees, underwriting discounts and other fees and out-of-pocket expenses (including survey costs, title insurance premiums and related search and recording charges) paid by the Borrower or any of its Restricted Subsidiaries to third parties in connection with such event, (c) in the case of a Disposition of an asset, (w) any funded escrow established pursuant to the documents evidencing any Disposition to secure any indemnification obligations or adjustments to the purchase price associated with any such Disposition, (x) the amount of all payments that are permitted hereunder and are made by the Borrower and its Restricted Subsidiaries (or to establish an escrow for the future repayment thereof) as a result of such event to repay Indebtedness (other than the Initial Term B Loans) secured by such asset or otherwise subject to mandatory prepayment as a result of such event, (y) the pro rata portion of net cash proceeds thereof (calculated without regard to this clause (y)) attributable to minority interests and not available for distribution to or for the account of the Borrower and the Restricted Subsidiaries as a result thereof and (z) the amount of any liabilities directly associated with such asset and retained by the Borrower or its Restricted Subsidiaries.

  • Asset Sale Proceeds means, with respect to any Asset Sale,

  • Net Asset Sale Proceeds means, with respect to any Asset Sale, Cash payments (including any Cash received by way of deferred payment pursuant to, or by monetization of, a note receivable or otherwise, but only as and when so received) received from such Asset Sale, net of any bona fide direct costs incurred in connection with such Asset Sale, including (i) income taxes reasonably estimated to be actually payable within two years of the date of such Asset Sale as a result of any gain recognized in connection with such Asset Sale and (ii) payment of the outstanding principal amount of, premium or penalty, if any, and interest on any Indebtedness (other than the Loans) that is secured by a Lien on the stock or assets in question and that is required to be repaid under the terms thereof as a result of such Asset Sale.

  • Net Disposition Proceeds means, with respect to any sale, transfer or other disposition of any assets of the Borrower, any Parent Guarantor or any of their respective Subsidiaries (other than sales permitted pursuant to clause (a), (b) or (c) of Section 7.2.9), the excess of

  • Net Sale Proceeds means for any sale or other disposition of assets, the gross cash proceeds (including any cash received by way of deferred payment pursuant to a promissory note, receivable or otherwise, but only as and when received) received from such sale or other disposition of assets, net of (i) reasonable transaction costs (including, without limitation, any underwriting, brokerage or other customary selling commissions, reasonable legal, advisory and other fees and expenses (including title and recording expenses), associated therewith and sales, VAT and transfer taxes arising therefrom), (ii) payments of unassumed liabilities relating to the assets sold or otherwise disposed of at the time of, or within 30 days after, the date of such sale or other disposition, (iii) the amount of such gross cash proceeds required to be used to permanently repay any Indebtedness (other than Indebtedness of the Lenders pursuant to this Agreement) which is secured by the respective assets which were sold or otherwise disposed of, (iv) the estimated net marginal increase in income taxes which will be payable by the Borrower consolidated group or any Subsidiary of the Borrower with respect to the Fiscal Year in which the sale or other disposition occurs as a result of such sale or other disposition; and (v) in the event of any such sale or disposition of assets owned by a Non-Wholly Owned Subsidiary, the proportionate share thereof attributable to minority interests (based upon such Persons’ relative holdings of Equity Interests in such Subsidiary); provided, however, that such gross proceeds shall not include any portion of such gross cash proceeds which the Borrower determines in good faith should be reserved for post-closing adjustments (to the extent the Borrower delivers to the Lenders a certificate signed by its chief financial officer or treasurer, controller or chief accounting officer as to such determination), it being understood and agreed that on the day that all such post-closing adjustments have been determined (which shall not be later than six months following the date of the respective asset sale), the amount (if any) by which the reserved amount in respect of such sale or disposition exceeds the actual post-closing adjustments payable by the Borrower or any of its Subsidiaries shall constitute Net Sale Proceeds on such date received by the Borrower and/or any of its Subsidiaries from such sale or other disposition.

  • Sale Proceeds means the net proceeds from the sale and/or realisation of the Charged Assets (excluding any Charged Assets which comprise cash) by the Realisation Agent in accordance with the Conditions (after deduction therefrom by the Realisation Agent of its usual fees and any costs and expenses incurred in connection with the sale of such Charged Assets). 7. Additional Provisions:

  • Net Cash Proceeds with respect to any issuance or sale of Capital Stock, means the cash proceeds of such issuance or sale net of attorneys' fees, accountants' fees, underwriters' or placement agents' fees, discounts or commissions and brokerage, consultant and other fees actually incurred in connection with such issuance or sale and net of taxes paid or payable as a result thereof.

  • Net Sales Proceeds means, in the case of a transaction described in clause (i)(A) of the definition of Sale, the proceeds of any such transaction less the amount of selling expenses incurred by or on behalf of the Company, including all real estate commissions, closing costs and legal fees and expenses. In the case of a transaction described in clause (i)(B) of the definition of Sale, Net Sales Proceeds means the proceeds of any such transaction less the amount of selling expenses incurred by or on behalf of the Company, including any legal fees and expenses and other selling expenses incurred in connection with such transaction. In the case of a transaction described in clause (i)(C) of the definition of Sale, Net Sales Proceeds means the proceeds of any such transaction actually distributed to the Company or the Operating Partnership from the Joint Venture less the amount of any selling expenses, including legal fees and expenses incurred by or on behalf of the Company (other than those paid by the Joint Venture). In the case of a transaction or series of transactions described in clause (i)(D) of the definition of Sale, Net Sales Proceeds means the proceeds of any such transaction (including the aggregate of all payments under a Mortgage on or in satisfaction thereof other than regularly scheduled interest payments) less the amount of selling expenses incurred by or on behalf of the Company, including all commissions, closing costs and legal fees and expenses. In the case of a transaction described in clause (i)(E) of the definition of Sale, Net Sales Proceeds means the proceeds of any such transaction less the amount of selling expenses incurred by or on behalf of the Company, including any legal fees and expenses and other selling expenses incurred in connection with such transaction. In the case of a transaction described in clause (ii) of the definition of Sale, Net Sales Proceeds means the proceeds of such transaction or series of transactions less all amounts generated thereby which are reinvested in one (1) or more Assets within one hundred eighty (180) days thereafter and less the amount of any real estate commissions, closing costs, and legal fees and expenses and other selling expenses incurred by or allocated to the Company or the Operating Partnership in connection with such transaction or series of transactions. Net Sales Proceeds shall also include Refinancing Proceeds and any other amounts that the Company determines, in its discretion, to be economically equivalent to proceeds of a Sale. Net Sales Proceeds shall not include any reserves established by the Company, which shall be determined by the Board in its sole discretion.

  • Noncash proceeds means proceeds other than cash proceeds.

  • Gross Sales Proceeds with respect to each sale of Shares shall be the Gross Sales Price multiplied by the number of Shares sold;

  • Qualified Proceeds means the fair market value of assets that are used or useful in, or Capital Stock of any Person engaged in, a Similar Business.

  • Net Loss Proceeds means, with respect to any Event of Loss, the proceeds in the form of (a) cash or Cash Equivalents and (b) insurance proceeds, condemnation awards or damages awarded by any judgment, in each case received by an Obligor from such Event of Loss net of:

  • Cash Proceeds means proceeds that are money, checks, deposit accounts, or the like.

  • Deferred Net Cash Proceeds Payment Date shall have the meaning provided such term in the definition of Net Cash Proceeds.

  • from an Asset Disposition means cash payments received therefrom (including any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise and proceeds from the sale or other disposition of any securities received as consideration, but only as and when received, but excluding any other consideration received in the form of assumption by the acquiring Person of Indebtedness or other obligations relating to such properties or assets or received in any other noncash form), in each case net of:

  • Gross Proceeds means the aggregate purchase price of all Shares sold for the account of the Company through an Offering, without deduction for Organization and Offering Expenses.

  • Net Debt Proceeds means, with respect to any incurrence of Indebtedness for borrowed money, the cash proceeds (net of underwriting discounts and commissions and other reasonable costs associated therewith) received by the respective Person from the respective incurrence of such Indebtedness for borrowed money.

  • Disposition Proceeds means, with respect to each Group I/II Non-Program Vehicle, the net proceeds from the sale or disposition of such Group I/II Eligible Vehicle to any Person (other than any portion of such proceeds payable by the Group I/II Lessee thereof pursuant to any Group I/II Lease).

  • Retained Asset Sale Proceeds means that portion of Net Proceeds of a Prepayment Event pursuant to clause (a) of such definition not required to be applied to prepay the Loans pursuant to Section 2.11(c) due to the Disposition/Debt Percentage being less than 100%.

  • Principal Proceeds means, with respect to any Collection Period or the related Determination Date, all amounts received by the Borrower during such Collection Period that do not constitute Interest Proceeds, including unapplied proceeds of the Advances and any amounts received by the Borrower as equity contributions (howsoever designated).

  • Net Proceeds Offer Amount has the meaning set forth in Section 4.16.

  • Net Proceeds Offer has the meaning provided in Section 4.16.

  • Deferred Net Cash Proceeds shall have the meaning provided such term in the definition of Net Cash Proceeds.

  • Excluded Proceeds means, with respect to any Asset Sale or Casualty Event, the sum of, (1) any Net Proceeds therefrom that constitute Declined Proceeds and (2) any Net Proceeds therefrom that otherwise are waived by the Required Facility Lenders from the requirement to be applied to prepay the applicable Term Loans pursuant to Section 2.05(2)(b).

  • Net Issuance Proceeds means, in respect of any issuance of debt or equity, cash proceeds (including cash proceeds as and when received in respect of non-cash proceeds received or receivable in connection with such issuance), net of underwriting discounts and reasonable out-of-pocket costs and expenses paid or incurred in connection therewith in favor of any Person not an Affiliate of a Borrower.