Distributions of Sale or Refinancing Proceeds Sample Clauses

Distributions of Sale or Refinancing Proceeds. 4.2.1. Subject to other provisions of this Section 4.2, all Sale or Refinancing Proceeds, to the extent not used to acquire Local Limited Partnership Interests as permitted by Section 5.4.1(x), shall be distributed in the following amounts and order of priority: (i) First, to the Limited Partners until they have received (a) their Adjusted Capital Contributions, plus (b) their Return on Investment minus (i) any cash distributed by the Partnership to the Limited Partners pursuant to Section 4.1 or this Section 4.2.1(i)(b) on or before the close of the year in which the distribution of Sale or Refinancing Proceeds occurs, and (ii) an amount equal to the Tax Credits allocated to the Limited Partners on or before the close of such year (reduced by any recapture thereof arising other than as a result of the disposition of a Unit by a Limited Partner); (ii) Second, to the General Partner in an amount equal to (a) its Capital Contribution minus (b) any amounts previously distributed to it from Sale or Refinancing Proceeds; and (iii) Third (after payment of any accrued but unpaid Subordinated Disposition Fee), the balance 90% to the Limited Partners and 10% to the General Partner. 4.2.2. Upon termination and winding up of the Partnership, after payment of, or adequate provision for, the debts and obligations of the Partnership, and the funding of any Reserves deemed reasonable by the General Partner, the remaining assets of the Partnership shall be distributed to all Partners with positive Capital Accounts in the ratio of their respective positive Capital Accounts to the sum of all such positive Capital Accounts. For purposes of the preceding sentence, the Capital Account of each Partner shall be determined after all adjustments in accordance with this Article 4 resulting from Partnership operations and from all Sales or Refinancings. If any assets of the Partnership are to be conveyed to a liquidating trust for the Partners under Section 8.2.2, then prior thereto the Capital Account of each Partner shall be credited or charged in accordance with this Article 4 with the amount of Profits and Losses for Tax Purposes that would have been credited or charged to reflect the distribution of such assets as though the adjusted basis of such assets to the Partnership were equal to the fair market value of such assets, as determined under Section 8.2.2. 4.2.3. Notwithstanding any other provision of this Agreement to the contrary, the interest of the General Partner and of ...
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Distributions of Sale or Refinancing Proceeds. All Sale or Refinancing Proceeds shall be distributed as follows: (i) first, to the Limited Partners in an amount equal to (a) the sum of the amounts by which, for each fiscal year commencing with 1978, the amount of Disbursable Cash distributed to the Limited Partners pursuant to Section 4.1 for such year was less than 7% of the average of their Adjusted Capital Contributions as computed in Section 4.1 above (and for the purposes of the computation of such deficiency, the amount by which distributions of Disbursable Cash for any year were in excess of 7% of the average of the Adjusted Capital Contributions of Limited Partners shall be credited to reduce any deficiency for any other year) less (b) the sum of all previous distributions made to the Limited Partners out of Sale or Refinancing Proceeds pursuant to this Section 4.2(i); (ii) second, to the Limited Partners, to the extent that all previous distributions to them under this Section 4.2(u) (including the excess, if any, of the amount determined pursuant to Section 4.2(i) (b) over the amount determined pursuant to Section 4.2(i) (a)) do not equal their Capital Contributions; and (iii) third, in the case of sales of Properties by the Partnership or by a partnership, venture or other entity which owns a particular Property, subject to the limitation set forth in the last sentence of Section 5.3A(i), an amount to the General Partners equal to .75% of the selling price of the Property being sold plus up to .75% of the aggregate selling prices of Properties previously sold to the extent the General Partners have not previously received such .75% of the selling prices of such Properties by reason of clauses (i) and (ii) of this Section 4.2 (the selling price or prices of all such Properties to include the amount of any indebtedness to which such Property or Properties are subject or which is assumed by the buyer); and (iv) fourth, the balance 85% to the Limited Partners and 15% to the General Partners.
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Distributions of Sale or Refinancing Proceeds. 26 Section 4.3
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Related to Distributions of Sale or Refinancing Proceeds

  • Distributions of Cash Flow Cash flow for each taxable year of the Company shall be distributed to the Member at such times and in such amounts as the Member shall determine.

  • Distributions of Net Cash Flow The Net Cash Flow of the Partnership for each calendar year, shall be distributed to the Partners from time to time, in the discretion of the General Partner, in accordance with the Percentage Interests of the Partners.

  • Application of Net Liquidation Proceeds For all purposes under this agreement, Net Liquidation Proceeds received from a Servicer shall be allocated first to accrued and unpaid interest on the related Mortgage Loan and then to the unpaid principal balance thereof.

  • Applications of Proceeds The proceeds of any such sale, lease or other disposition of the Collateral hereunder shall be applied first, to the expenses of retaking, holding, storing, processing and preparing for sale, selling, and the like (including, without limitation, any taxes, fees and other costs incurred in connection therewith) of the Collateral, to the reasonable attorneys' fees and expenses incurred by the Secured Party in enforcing its rights hereunder and in connection with collecting, storing and disposing of the Collateral, and then to satisfaction of the Obligations, and to the payment of any other amounts required by applicable law, after which the Secured Party shall pay to the Company any surplus proceeds. If, upon the sale, license or other disposition of the Collateral, the proceeds thereof are insufficient to pay all amounts to which the Secured Party is legally entitled, the Company will be liable for the deficiency, together with interest thereon, at the rate of 15% per annum (the "Default Rate"), and the reasonable fees of any attorneys employed by the Secured Party to collect such deficiency. To the extent permitted by applicable law, the Company waives all claims, damages and demands against the Secured Party arising out of the repossession, removal, retention or sale of the Collateral, unless due to the gross negligence or willful misconduct of the Secured Party.

  • Subordinated Share of Net Sales Proceeds The Subordinated Share of Net Sales Proceeds shall be payable to the Advisor in an amount equal to 10% of Net Sales Proceeds remaining after the Stockholders have received Distributions equal to the sum of the Stockholders’ 8% Return and 100% of Invested Capital. Following Listing, no Subordinated Share of Net Sales Proceeds will be paid to the Advisor.

  • Distribution of Collateral Proceeds In the event that, following the occurrence or during the continuance of any Default or Event of Default, the Administrative Agent or any Lender, as the case may be, receives any monies in connection with the enforcement of any of the Security Documents, or otherwise with respect to the realization upon any of the Collateral, such monies shall be distributed for application as follows: (a) First, to the payment of, or (as the case may be) the reimbursement of the Administrative Agent, in its capacity as such, for or in respect of all reasonable costs, expenses, disbursements and losses which shall have been incurred or sustained by the Administrative Agent in connection with the collection of such monies by the Administrative Agent, for the exercise, protection or enforcement by the Administrative Agent of all or any of the rights, remedies, powers and privileges of the Administrative Agent under this Credit Agreement or any of the other Loan Documents or in respect of the Collateral or in support of any provision of adequate indemnity to the Administrative Agent against any taxes or liens which by law shall have, or may have, priority over the rights of the Administrative Agent to such monies; (b) Second, to all other Obligations in such order or preference as the Required Lenders may determine; provided, however, that (i) distributions shall be made (A) pari passu among Obligations with respect to the Administrative Agent’s Fee and all other Obligations and (B) with respect to each type of Obligation owing to the Lenders, such as interest, principal, fees and expenses, among the Lenders pro rata across all Tranches and (ii) the Administrative Agent may in its discretion make proper allowance to take into account any Obligations not then due and payable; (c) Third, upon payment and satisfaction in full in cash or other provisions for payment in full satisfactory to the Lenders and the Administrative Agent of all of the Obligations, to the payment of any obligations required to be paid pursuant to §9-615 of the UCC of the State of New York; and (d) Fourth, the excess, if any, shall be returned to the Borrower or to such other Persons as are entitled thereto.

  • Liquidation Proceeds Cash received in connection with the liquidation of a defaulted Mortgage Loan, whether through the sale or assignment of such Mortgage Loan, trustee’s sale, foreclosure sale, payment in full, discounted payoff or otherwise, or the sale of the related Mortgaged Property if the Mortgaged Property is acquired in satisfaction of the Mortgage Loan, including any amounts remaining in the related Escrow Account.

  • Distributions of Available Cash An amount equal to 100% of Available Cash with respect to each fiscal quarter of the Partnership shall be distributed simultaneously to the Members in proportion to their relative Percentage Interests within forty-five days after the end of such quarter.

  • Use of Proceeds and Letters of Credit The proceeds of the Loans will be used only (i) to refinance amounts outstanding under the Existing Credit Agreement; (ii) to pay the fees, expenses and other transaction costs of the Transactions contemplated hereby, (iii) to fund working capital needs, (iv) to fund acquisitions permitted hereunder, together with related expenses, and engage in other transactions permitted hereby, (v) to provide funding in connection with capital expenditures, (vi) to make Restricted Payments permitted hereunder and (vii) for general corporate purposes of the Borrower and its Subsidiaries. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the regulations of the Board, including Regulations T, U and X. Letters of Credit will be issued only to support the working capital needs and general corporate obligations of the Borrower and its Subsidiaries relating to their respective lines of business. The Borrower will not request any Borrowing or Letter of Credit, and the Borrower shall not use, and shall procure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of any Borrowing or Letter of Credit (A) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (B) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, to the extent such activities, businesses or transaction would be prohibited by Sanctions if conducted by a corporation incorporated in the United States, or (C) in any manner that would result in the violation of any Sanctions applicable to any party hereto.

  • Use of Proceeds; Letters of Credit The Borrower will not permit the proceeds of any Advance or Letters of Credit to be used for any purpose other than those permitted by Section 5.09. The Borrower will not engage in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U). Neither the Borrower nor any Person acting on behalf of the Borrower has taken or shall take, nor permit any of the Borrower’s Subsidiaries to take any action which might cause any of the Loan Documents to violate Regulation T, U or X or any other regulation of the Board of Governors of the Federal Reserve System or to violate Section 7 of the Securities Exchange Act of 1934 or any rule or regulation thereunder, in each case as now in effect or as the same may hereinafter be in effect, including without limitation, the use of the proceeds of any Advance or Letters of Credit to purchase or carry any margin stock in violation of Regulation T, U or X.

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