Common use of Distribution of Frozen Appreciation Amount Clause in Contracts

Distribution of Frozen Appreciation Amount. Notwithstanding the provisions of Section 8.2 hereof, in the event any tract of Real Estate of Xxxxxx X. Xxxxx & Co., L.P., or EDJ Leasing Co., L.P., is sold, then there shall be distributed from the net proceeds of such sale (prior to making any distributions pursuant to the provisions of Section 8.2 hereof) to each General Partner an amount equal to such General Partner’s Frozen Appreciation Amount with respect to such tract of Real Estate. The balance of any proceeds resulting from any such sale shall then be distributed in accordance with Section 8.2 hereof or shall otherwise be used or retained by the Partnership as provided herein. As of December 31, 2017, the Frozen Appreciation Amount totaled $4,741,040.

Distribution of Frozen Appreciation Amount. Notwithstanding the provisions of Section 8.2 hereof, in the event any tract of Real Estate of Xxxxxx X. Xxxxx & Co., L.P., L.P. or EDJ Leasing Co., L.P., L.P. is sold, then there shall be distributed from the net proceeds of such sale (prior to making any distributions pursuant to the provisions of Section 8.2 hereof) to each General Partner an amount equal to such General Partner’s Frozen Appreciation Amount with respect to such tract of Real Estate. The balance of any proceeds resulting from any such sale shall then be distributed in accordance with Section 8.2 hereof or shall otherwise be used or retained by the Partnership as provided herein. As of December 31, 20172022, the Frozen Appreciation Amount totaled $4,741,040.

Distribution of Frozen Appreciation Amount. Notwithstanding the provisions of Section 8.2 hereof, in the event any tract of Real Estate of Xxxxxx X. Xxxxx & Co., L.P., or EDJ Leasing Co., L.P., is sold, then there shall be distributed from the net proceeds of such sale (prior to making any distributions pursuant to the provisions of Section 8.2 hereof) to each General Partner an amount equal to such General Partner’s his Frozen Appreciation Amount with respect to such tract of Real Estate. The balance of any proceeds resulting from any such sale shall then be distributed in accordance with Section Sections 8.2 hereof or shall otherwise be used or retained by the Partnership as provided herein. As of December 31June 6, 2017, 2014 the Frozen Appreciation Amount totaled $4,741,040.