Capital Event Distributions. Subject to Section 7.4, all distributions of Net Financing Proceeds and Net Sales Proceeds (such distributions being referred to herein as “Capital Event Distributions”, and each transaction giving rise to such distributions, including without limitation any Liquidation/Sale Event, being referred to herein as a “Capital Event”), as determined by the Board of Directors, out of legally available funds, shall be made to the holders of Interests in the following order of priority:
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Strategic Hotels & Resorts, Inc), Limited Liability Company Agreement (Strategic Hotels & Resorts, Inc), Limited Liability Company Agreement (Strategic Hotels & Resorts, Inc)
