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 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; and (d) thereafter, 29.99% to the Limited Partner, 0.01% to the Special Limited Partner and 70% to the General Partner, provided that the amount distributed to the Limited Partner pursuant to this paragraph shall not be less than the aggregate federal and state income tax liability of the Limited Partner with respect to this distribution, and the amount distributable to the General Partner shall be reduced by the amount of any distribution to the Limited Partner under this paragraph.

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 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; and (d) thereafter, 29.9919.99% to the Limited Partner, 0.01% to the Special Limited Partner and 7080% to the General Partner, provided that the amount distributed to the Limited Partner pursuant to this paragraph shall not be less than the aggregate federal and state income tax liability of the Limited Partner with respect to this distribution, and the amount distributable to the General Partner shall be reduced by the amount of any distribution to the Limited Partner under this paragraph.

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 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; and (d) thereafter, 29.9924.99% to the Limited Partner, 0.01% to the Special Limited Partner and 7075% to the General PartnerPartners (in accordance with the General Partners Interests), provided that the amount distributed to the Limited Partner pursuant to this paragraph shall not be less than the aggregate federal and state income tax liability of the Limited Partner with respect to this distribution, and the amount distributable to the General Partner shall be reduced by the amount of any distribution to the Limited Partner under this paragraph.

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 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; and (d) to the Developer, or its assigns, payment of the Sales Disposition Fee; and (e) thereafter, 29.9990.00% to the Limited Partner, 0.01% to the Special Limited Partner and 709.99% to the General Partner, provided that the amount distributed to the Limited Partner pursuant to this paragraph shall not be less than the aggregate federal and state income tax liability of the Limited Partner with respect to this distribution, and the amount distributable to the General Partner shall be reduced by the amount of any distribution to the Limited Partner under this paragraph.

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 Asset Management Fees and Operating Loans, to be paid prorata pro rata 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; and (d) thereafter, 29.99% to the Limited Partner, 0.01% to the Special Limited Partner and 70% to the General Partner, provided that the amount distributed to the Limited Partner pursuant to this paragraph shall not be less than the aggregate federal and state income tax liability of the Limited Partner with respect to this distribution, and the amount distributable to the General Partner shall be reduced by the amount of any distribution to the Limited Partner under this paragraph.

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 Asset Management 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; and (d) thereafter, 29.99% to the Limited Partner, 0.01% to the Special Limited Partner and 70% to the General Partner, provided that the amount distributed to the Limited Partner pursuant to this paragraph shall not be less than the aggregate federal and state income tax liability of the Limited Partner with respect to this distribution, and the amount distributable to the General Partner shall be reduced by the amount of any distribution to the Limited Partner under this paragraph.

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 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; and (d) thereafter, 29.9914.99% to the Limited Partner, 0.01% to the Special Limited Partner and 7085% to the General Partner, provided that the amount distributed to the Limited Partner pursuant to this paragraph shall not be less than the aggregate federal and state income tax liability of the Limited Partner with respect to this distribution, and the amount distributable to the General Partner shall be reduced by the amount of any distribution to the Limited Partner under this paragraph.

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 Asset Management Fees and Operating Loans, to be paid prorata pro rata 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; and (d) thereafter, 29.999.99% to the Limited Partner, 0.01% to the Special Limited Partner and 7090% to the General Partner, provided that the amount distributed to the Limited Partner pursuant to this paragraph shall not be less than the aggregate federal and state income tax liability of the Limited Partner with respect to this distribution, and the amount distributable to the General Partner shall be reduced by the amount of any distribution to the Limited Partner under this paragraph.