Common use of Distribution of Net Cash Flow Clause in Contracts

Distribution of Net Cash Flow. (a) For all purposes of this Agreement, the term "Net Cash Flow" for any calendar year or fraction of a calendar year, shall mean the excess, if any, of (1) the sum of (A) the net income of the Partnership for such calendar year or Fraction thereof, plus (B) any funds previously set aside as reserves by the General Partner to the extent that it no longer reasonably regards such reserves as necessary in the efficient control of the Partnership business, over (2) the sum of (A) all amounts payable in such calendar year or fraction thereof on account of the amortization (i.e. principal payments) of any debts of the Partnership (including, without limitation loans secured by mortgages on the Project) other than repayments out of the proceeds of any Capital Transaction (as defined in Section 6.3), plus (B) the amount of any funds set aside as reserves or used for capital expenditures by the General Partner plus (C) any other cash expenditures which have not been deducted in determining net income of the Partnership. (b) Net Cash Flow shall not include the net proceeds from any Capital Transaction. (c) The Net Cash Flow of the Partnership for each calendar year or fraction thereof shall be distributed to the Partners in proportion to their respective Partnership Interests as shown on Schedule I.

Distribution of Net Cash Flow. (a) For all purposes of this Agreement, the term "Net Cash Flow" for any calendar year or fraction of a calendar year, shall mean the excess, if any, of (1) the sum of (A) the net income of the Partnership for such calendar year or Fraction fraction thereof, plus (B) any funds previously set aside as reserves by the General Partner to the extent that it no longer reasonably regards such reserves as necessary in the efficient control of the Partnership business, over (2) the sum of (A) all amounts payable in such calendar year or fraction thereof on account of the amortization (i.e. principal payments) of any debts of the Partnership (including, without limitation loans secured by mortgages on the Project) other than repayments out of the proceeds of any Capital Transaction (as defined in Section 6.3), plus (B) the amount of any funds set aside as reserves or used for capital expenditures by the General Partner plus (C) any other cash expenditures which have not been deducted in determining net income of the Partnership. (b) Net Cash Flow shall not include the net proceeds from any Capital Transaction. (c) The Net Cash Flow of the Partnership for each calendar year or fraction thereof shall be distributed to the Partners in proportion to their respective Partnership Interests as shown on Schedule I.

Distribution of Net Cash Flow. (a) For all purposes of this Agreement, the term "Net Cash cash Flow" for any calendar year or of fraction of a calendar year, shall mean the excess, if any, of (1) the sum of (A) the net income of the Partnership for such calendar year or Fraction fraction thereof, plus (Bb) any funds previously set net aside as reserves by the General Partner to the extent that it no longer reasonably regards such reserves as necessary in the efficient control of the Partnership business, over (2) the sum of (A) all amounts payable in such calendar year or fraction thereof on account of the amortization (i.e. i.e., principal payments) of any debts of the Partnership (including, without limitation loans secured by mortgages on the Project) other than repayments out of the proceeds of any Capital Transaction (as defined in Section 6.3), plus (B) the amount of any funds set aside as reserves or used for capital expenditures by the General Partner plus (C) any other cash expenditures which have not been deducted in determining net income of the Partnership. (b) Net Cash Flow shall not include the net proceeds from any Capital Transaction. (c) The Net Cash Flow of the Partnership for each calendar year or fraction thereof shall be distributed to the Partners in proportion to their respective Partnership Interests as shown on Schedule I.

Distribution of Net Cash Flow. (a) For all purposes of this Agreement, the term "Net Net, Cash Flow" for any calendar year or fraction of a calendar year, shall mean the excess, if any, of (1) the sum of (A) the net income of the Partnership for such calendar year or Fraction fraction thereof, plus (B) any funds previously set aside as reserves by the General Partner to the extent that it no longer reasonably regards such reserves as necessary in the efficient control of the Partnership business, over (2) the sum of (A) all amounts payable in such calendar year or fraction thereof on account of the amortization (i.e. principal payments) of any debts of the Partnership (including, without limitation loans secured by mortgages on the Project) other than repayments out of the proceeds of any Capital Transaction (as defined in Section 6.3), plus (B) the amount of any funds set aside as reserves or used for capital expenditures by the General Partner plus (C) any other cash expenditures which have not been deducted in determining net income of the Partnership. (b) Net Cash Flow shall not include the net proceeds from any Capital Transaction. (c) The Net Cash Flow of the Partnership for each calendar year or fraction thereof shall be distributed to the Partners in proportion to their respective Partnership Interests as shown on Schedule I.