Common use of Distribution of Sale or Refinancing Proceeds Clause in Contracts

Distribution of Sale or Refinancing Proceeds. Sale or Refinancing Proceeds shall be distributed in the following order: (a) to the payment of the Mortgage and other matured debts and liabilities of the Partnership, other than accrued payments, debts or other liabilities owing to Partners or former Partners; (b) to any accrued payments, debts or other liabilities owing to the Partners or former Partners, including, but not limited to, accrued Reporting Fees and Operating Loans, to be paid prorata if necessary; (c) to the establishment of any reserves which the General Partner, with the Consent of the Special Limited Partner, shall deem reasonably necessary for contingent, unmatured or unforeseen liabilities or obligations of the Partnership; (d) to the Limited Partner in an amount equal to its Capital Contribution; (e) to the Special Limited Partner in an amount equal to its Capital Contribution; (f) to the General Partner in an amount equal to its Capital Contribution; and (g) thereafter, 30% to the Limited Partner and 70% to the General Partner.

Distribution of Sale or Refinancing Proceeds. Sale or Refinancing Proceeds shall be distributed in the following order: (a) to the payment of the Mortgage and other matured debts and liabilities of the Partnership, other than accrued payments, debts or other liabilities owing to Partners or former Partners; (b) to any accrued payments, debts or other liabilities owing to the Partners or former Partners, including, but not limited to, accrued Reporting Asset Management Fees and Operating Loans, to be paid prorata if necessary; (c) to the establishment of any reserves which the General Partner, with the Consent of the Special Limited Partner, shall deem reasonably necessary for contingent, unmatured or unforeseen liabilities or obligations of the Partnership; (d) to the Limited Partner in an amount equal to its Capital Contribution; (e) to the Special Limited Partner in an amount equal to its Capital Contribution; (f) to the General Partner in an amount equal to its Capital Contribution; and (g) thereafter, 30% to the Limited Partner and 70% to the General Partner.

Distribution of Sale or Refinancing Proceeds. Sale or Refinancing Proceeds shall be distributed in the following order: (a) to the payment of the Mortgage and other matured debts and liabilities of the Partnership, other than accrued payments, debts or other liabilities owing to Partners or former Partners; (b) to any accrued payments, debts or other liabilities owing to the Partners or former Partners, including, but not limited to, accrued Reporting Fees and Operating Loans, to be paid prorata if necessary; (c) to the establishment of any reserves which the General Partner, with the Consent of the Special Limited Partner, shall deem reasonably necessary for contingent, unmatured or unforeseen liabilities or obligations of the Partnership; (d) to the Limited Partner in an amount equal to its Capital Contribution; (e) to the Special Limited Partner in an amount equal to its Capital Contribution; (f) to the General Partner in an amount equal to its Capital Contribution; and (g) thereafter, 3050% to the Limited Partner and 7050% to the General Partner.

Distribution of Sale or Refinancing Proceeds. Sale or Refinancing Proceeds shall be distributed in the following order, subject to any restrictions per the Project's HAP Contract: (a) to the payment of the Mortgage and other matured debts and liabilities of the Partnership, other than accrued payments, debts or other liabilities owing to Partners or former Partners; (b) to any accrued payments, debts or other liabilities owing to the Partners or former Partners, including, but not limited to, accrued Reporting Fees and Operating Loans, to be paid prorata if necessary; (c) to the establishment of any reserves which the General Partner, with the Consent of the Special Limited Partner, shall deem reasonably necessary for contingent, unmatured or unforeseen liabilities or obligations of the Partnership; (d) to the Limited Partner in an amount equal to its Capital Contribution; (e) to the Special Limited Partner in an amount equal to its Capital Contribution; (f) to the General Partner in an amount equal to its Capital Contribution; and (g) thereafter, 30% to the Limited Partner and 70% to the General Partner.

Distribution of Sale or Refinancing Proceeds. Sale or Refinancing Proceeds shall be distributed in the following order, subject to any restrictions per the Project's HAP Contract: (a) to the payment of the Mortgage and other matured debts and liabilities of the Partnership, other than accrued payments, debts or other liabilities owing to Partners or former Partners; (b) to any accrued payments, debts or other liabilities owing to the Partners or former Partners, including, but not limited to, accrued Reporting Fees and Operating Loans, to be paid prorata if necessary; (c) to the General Partner a sales preparation fee in the amount of 5%; (d) to the establishment of any reserves which the General Partner, with the Consent of the Special Limited Partner, shall deem reasonably necessary for contingent, unmatured or unforeseen liabilities or obligations of the Partnership; (de) to the Limited Partner in an amount equal to its Capital Contribution; (ef) to the Special Limited Partner in an amount equal to its Capital Contribution; (fg) to the General Partner in an amount equal to its Capital Contribution; and (gh) thereafter, 30% to the Limited Partner and 70% to the General Partner.

Distribution of Sale or Refinancing Proceeds. Sale or Refinancing Proceeds shall be distributed in the following order: (a) to the payment of the Mortgage Mortgage, Second Loan and other matured debts and liabilities of the Partnership, other than accrued payments, debts or other liabilities owing to Partners or former Partners; (b) to any accrued payments, debts or other liabilities owing to the Partners or former Partners, including, but not limited to, accrued Reporting Asset Management Fees and Operating Loans, to be paid prorata if necessary; (c) to the establishment of any reserves which the General Partner, with the Consent of the Special Limited Partner, shall deem reasonably necessary for contingent, unmatured or unforeseen liabilities or obligations of the Partnership; (d) to the Limited Partner in an amount equal to its Capital Contribution; (e) to the Special Limited Partner in an amount equal to its Capital Contribution; (f) to the General Partner in an amount equal to its Capital Contribution; and (g) thereafter, 3025% to the Limited Partner and 7075% to the General Partner.

Distribution of Sale or Refinancing Proceeds. Sale or Refinancing Proceeds shall be distributed in the following order: (a) to the payment of the Mortgage and other matured debts and liabilities of the Partnership, other than accrued payments, debts or other liabilities owing to Partners or former Partners; (b) to any accrued payments, debts or other liabilities owing to the Partners or former Partners, including, but not limited to, accrued Reporting Fees and Operating Loans, to be paid prorata if necessary; (c) to the establishment of any reserves which the General Partner, with the Consent of the Special Limited Partner, shall deem reasonably necessary for contingent, unmatured or unforeseen liabilities or obligations of the Partnership; (d) to the Limited Partner in an amount equal to its Capital Contribution; (e) to the Special Limited Partner in an amount equal to its Capital Contribution; (f) to the General Partner in an amount equal to its Capital Contribution; and (g) thereafter, 3035% to the Limited Partner and 7065% to the General Partner.

Distribution of Sale or Refinancing Proceeds. Sale or Refinancing Proceeds shall be distributed in the following order: (a) to the payment of the Mortgage and other matured debts and liabilities of the Partnership, other than accrued payments, debts or other liabilities owing to Partners or former Partners; (b) to any accrued payments, debts or other liabilities owing to the Partners or former Partners, including, but not limited to, accrued Reporting Fees and Operating Loans, to be paid prorata if necessary; (c) to the establishment of any reserves which the General Partner, with the Consent of the Special Limited Partner, shall deem reasonably necessary for contingent, unmatured or unforeseen liabilities or obligations of the Partnership; (d) to the Limited Partner in an amount equal to its Capital Contribution; (e) to the Special Limited Partner in an amount equal to its Capital Contribution; (f) to the General Partner in an amount equal to its Capital Contribution; and (g) to the Original Limited Partner in an amount equal to its Capital Contribution; and (h) thereafter, 3040% to the Limited Partner and 7060% to the General Partner.

Distribution of Sale or Refinancing Proceeds. Sale or Refinancing Proceeds shall be distributed in the following order: (a) to the payment of the Mortgage and other matured debts and liabilities of the Partnership, other than accrued payments, debts or other liabilities owing to Partners or former Partners; (b) to any accrued payments, debts or other liabilities owing to the Partners or former Partners, including, but not limited to, accrued Reporting Fees and Operating Loans, to be paid prorata if necessary; (c) to the establishment of any reserves which the General Partner, with the Consent of the Special Limited Partner, shall deem reasonably necessary for contingent, unmatured or unforeseen liabilities or obligations of the Partnership; (d) to the Limited General Partner in an amount equal to its Capital Contributiona 5% sales preparation fee; (e) to the Limited Partner and Special Limited Partner in an amount equal to 105% of its Capital Contribution; (f) to the General Partner in an amount equal to its Capital Contribution; and (g) thereafter, 30% to the Limited Partner and 70% to the General Partner.

Distribution of Sale or Refinancing Proceeds. Sale or Refinancing Proceeds shall be distributed in the following order: (a) to the payment of the Mortgage and other matured debts and liabilities of the Partnership, other than accrued payments, debts or other liabilities owing to Partners or former Partners; (b) to any accrued payments, debts or other liabilities owing to the Partners (including development fees) or former Partners, including, but not limited to, accrued Reporting Fees and Operating Loans, to be paid prorata if necessary; (c) to the establishment of any reserves which the General Partner, with the Consent of the Special Limited Partner, shall deem reasonably necessary for contingent, unmatured or unforeseen liabilities or obligations of the Partnership; (d) to the Limited Partner in an amount equal to its Capital Contribution; (e) to the Special Limited Partner in an amount equal to its Capital Contribution; (f) to the General Partner in an amount equal to its Capital Contribution; and (g) thereafter, 3050% to the Limited Partner and 7050% to the General Partner.