Unrecovered Capital definition

Unrecovered Capital means at any time, with respect to a Unit, the Initial Unit Price less the sum of all distributions constituting Capital Surplus theretofore made in respect of an Initial Common Unit and any distributions of cash (or the Net Agreed Value of any distributions in kind) in connection with the dissolution and liquidation of the Partnership theretofore made in respect of an Initial Common Unit, adjusted as the General Partner determines to be appropriate to give effect to any distribution, subdivision or combination of such Units.

Unrecovered Capital means at any time, with respect to a Unit, the Initial Unit Price less the sum of all distributions constituting Capital Surplus theretofore made in respect of an Initial Common Unit and any distributions of cash (or the Net Agreed Value of any distributions in kind) in connection with the dissolution and liquidation of the Partnership theretofore made in respect of an Initial Common Unit, adjusted as the Board of Directors determines to be appropriate to give effect to any distribution, subdivision or combination of such Units.

Unrecovered Capital means at any time, with respect to a Unit, the Initial Unit Price less the sum of all distributions constituting Capital Surplus theretofore made in respect of an Initial Common Unit and any distributions of cash (or the Net Agreed Value of any distributions in kind) in connection with the dissolution and liquidation of the Company theretofore made in respect of an Initial Common Unit, adjusted as the Board of Directors determines to be appropriate to give effect to any distribution, subdivision or combination of such Units. "U.S. GAAP" means United States generally accepted accounting principles consistently applied.

Examples of Unrecovered Capital in a sentence

• In the event that the Manager resigns, dies or is terminated before the Class A Member’s Unrecovered Capital has been reduced to zero dollars ($0);, then effective as of the date of such resignation, death or termination, the Class B Member forfeits all of its Membership Interest without further action, payment or distribution.

• Second, Class A Members are entitled to a further priority return of their respective Unrecovered Capital Contribution, such that one hundred percent (100%) of the Net Capital Proceeds shall be distributed to the Class A Members, in proportion to their respective Class A Interests, until each Class A Member’s Unrecovered Capital Contribution is reduced to zero.

• Manager intends to return all Class A Members’ Unrecovered Capital Contributions at refinance.

• Minimum Quarterly Distribution by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution.

• One hundred percent (100%) of the Net Cash Flow from a refinance, sale of the Property, sale of substantially all of the assets of the Company or upon dissolution (or net proceeds of refinance or liquidation, as the case may be) to the Class A Members, in proportion to their respective Class A Interests, until each Class A Member’s Unrecovered Capital Contribution is reduced to zero.

More Definitions of Unrecovered Capital

Unrecovered Capital. An amount, determined for each Partner or other Fund Investor, which equals the aggregate amount of all Capital Contributions made by such Limited Partner or Fund Investor to the Partnership or another Operating Company less the aggregate amount of capital returned to such Limited Partner or Fund Investor by the Partnership or other Operating Company by either the redemption of Partnership Units or the distribution of Capital Cash Flow.

Unrecovered Capital means, at any time, with respect to a Unit, the Unrecovered Initial Unit Price.

Unrecovered Capital means, with respect to any date of determination, the Initial Unit Price, less the sum of all distributions made up to (and including) such date in respect of a Unit that was sold in the initial offering of such Units constituting, and which for purposes of determining the priority of such distribution is treated as constituting, Cash from Interim Capital Transactions and of any distributions of cash (or the Net Agreed Value of any distributions in kind) in connection with the dissolution and liquidation of the Partnership theretofore made in respect of a Unit that was sold in the initial offering of such Units.

Unrecovered Capital means, as of any date, with respect to the Class A Member an amount (but not less than zero) equal to the excess of (a) the aggregate amount of the Class A Member’s Capital Contributions theretofore made pursuant to Article 6 over (b) the sum of the aggregate amount theretofore distributed to the Class A Member as a return of capital pursuant to Article 8. Amounts distributed or paid to the Class A Member as a Class A Return, an Increased Return or indemnification for Damages will not be considered a “return of capital”. As of the date hereof, the Class A Member’s Unrecovered Capital is equal to the amount set forth in Schedule 6.1 opposite its name.

Unrecovered Capital means, with respect to any Member, the total Capital Contributions made by such Member, reduced by the total amount distributed to such Member pursuant to Section 6.1(a) and Section 6.1(b).

Unrecovered Capital means, for any Member, as of any date, the positive remainder, if any, of the Capital Contributions of such Member to the Company, less the amount of cash distributions in respect of such Capital Contributions (excluding any distributions of the Class A Limited Member Preferred Return), plus in the case of any Class A Limited Member, any accrued but undistributed Class A Limited Member Preferred Return through the applicable date. For the avoidance of doubt, (a) distributions to a Member under Section 4 will not be treated as in respect of such Member’s Capital Contributions and (b) any accrued but undistributed Class A Limited Member Preferred Return as of any Class A Distribution Date shall be added to the Unrecovered Capital as of such Class A Distribution Date.

Unrecovered Capital means, at any time, with respect to an LP Unit (whether such LP Unit was issued in the Initial Offering or thereafter), the Initial Unit Price, less the sum of all distributions theretofore made in respect of a Unit issued in the Initial Offering constituting, and which for purposes of determining the priority of such distribution is treated as constituting, Cash from Interim Capital Transactions and of any distributions of cash (or the Net Agreed Value of any distributions in kind) in connection with the dissolution and liquidation of the Partnership theretofore made in respect of a Unit issued in the Initial Offering.