Distributions of Sale Proceeds Sample Clauses

Distributions of Sale Proceeds. Subject to the terms of the Project Documents and to the provisions of Section 6.3, any Sale Proceeds shall be distributed in the following amounts and order of priority: First, to discharge, to the extent required by the documents relating to the Mortgage Loan, the debts and obligations of the Partnership owed to the holder of the Mortgage; Second, to the payment of any unpaid Project Expenses and any expenses associated with the transaction generating such Sale Proceeds, including, without limitation, prepayment penalties, brokerage fees, legal fees and application fees; Third, to fund reserves for contingent or unforeseen liabilities or obligations of the Partnership to the extent deemed reasonable by General Partner; Fourth, to the payment of any unpaid Investment Servicing Fee; Fifth, to pay any unpaid Excess Adjustment; Sixth, to the repayment of any unpaid Investor Limited Partner Loans, together with all interest on such Investor Limited Partner Loans, and any unpaid Voluntary General Partner Loans, together with all interest on such Voluntary General Partner Loans, such amounts to be paid on a pari passu, pro rata basis based on the outstanding amounts of such loans; Seventh, to the repayment of the Subordinated Partner Loans, together with all interest on such Subordinated Partner Loans, such amounts to be paid on a pari passu, pro rata basis based on the outstanding amounts of such Subordinated Partner Loans; Eighth, to pay any unpaid portion of the Development Fee and the outstanding balance of the Development Fee Note; Ninth, to pay any outstanding Operating Deficit Loans, with payments to be applied first to accrued but unpaid interest and then to principal; Tenth, to the payment of any outstanding Excess Adjustment Loans, with payments to be applied first to accrued but unpaid interest and then to principal; Eleventh, if Investor Limited Partner's Capital Account has a negative balance prior to the transaction giving rise to the Sale Proceeds, to Investor Limited Partner in an amount equal to the Priority Amount; Twelfth, if a payment was made to Investor Limited Partner under Clause Eleventh immediately above, then to General Partner, in an amount equal to the Priority Amount; Thirteenth, if no Debt Service Coverage Loan has theretofore been made, the balance to be distributed as follows: 70% to General Partner, 29.99% to Investor Limited Partner, and 0.01% to Special Limited Partner; and Fourteenth, if a Debt Service Coverage Loan has ther...
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Distributions of Sale Proceeds. Except as otherwise provided in Section 2(f) of this Schedule 3 and Section 8(f) and Section 8(j) of the Series E Articles Supplementary, the Company shall distribute, or use, and shall cause its Component Entities to distribute or use, all Sale Proceeds and all Section 8(l) Proceeds as follows: (i) first, to pay all Miscellaneous Amounts to the holders of Series E Preferred Stock and any Miscellaneous Amounts to holders of Parity Stock (to the extent required by the terms thereof) (such payments to be made pro rata based on the Miscellaneous Amounts owed to such holders in the event that Sale Proceeds and Section 8(l) Proceeds are insufficient to pay all such amounts due); (ii) second, to redeem shares of Series E Preferred Stock for the Redemption Price then in effect and, to the extent required under the terms thereof, shares of Parity Stock (for its applicable redemption price) on a Pro Rata Basis (as nearly as may be practicable without creating fractional shares) among the holders of Series E Preferred Stock and the holders of Parity Stock; and (iii) thereafter, to be distributed to the holders of Common Stock or to be retained by the Operating Partnership.
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Distributions of Sale Proceeds. (a) Except as otherwise provided in Section 8.02 in connection with the liquidation of the Partnership, Sale Proceeds will be distributed, as soon as practicable after the Partnership receives such proceeds, 99% to the Limited Partners and Unitholders considered as a class and 1% to the General Partners; provided, however, that after the Adjusted Contributions have been reduced to zero and the Target Return on Adjusted Contribution Accounts has been paid on a cumulative basis, any accrued but unpaid Incentive Fee, Termination Fee or Annual Asset Management and Partnership Administration Fee then owed to the General Partners in accordance with Sections 5.03(b)(iii), 5.03(b)(v) and 5.03(b)(vi) shall be paid. (b) Noncash Sale Proceeds shall not be distributed until converted into cash by the Partnership.
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Distributions of Sale Proceeds. 54 Section 6.3 Liquidation. . . . . . . . . . . . . . . . . . . . . . .. 56 Section 6.4
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Distributions of Sale Proceeds. Except as otherwise provided in Section 8(f) and Section 8(i), the General Partner shall distribute, or use, and shall cause its Component Entities to distribute or use, all Sale Proceeds as follows: (i) first, to pay all Miscellaneous Amounts to Series D Unitholders; (ii) second, to redeem Series D Preferred Partnership Units for the Redemption Price then in effect and, to the extent necessary, Parity Units (for its applicable redemption price) pro rata in accordance with Section 6; and (iii) thereafter, to be distributed to the holders of Common Units or to be retained by the Partnership.
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Distributions of Sale Proceeds. Except as otherwise provided in Section 8(f) and Section 8(i), the General Partner shall distribute, or use, and shall cause its Component Entities to distribute or use, all Sale Proceeds and all Section 8(k) Proceeds as follows:
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Related to Distributions of Sale Proceeds

  • 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.

  • Distributions of Available Cash The Management Committee shall review the Company’s accounts at the end of each calendar quarter to determine whether distributions are appropriate. Subject to § 18-607 of the Delaware Act, the Management Committee shall authorize such distributions of Available Cash as it may determine in its sole discretion. All such distributions of cash shall be made to the Members in the following manner: (a) First, to each Member with Series B Convertible Preferred Units and/or Series C Preferred Units ratably in proportion to, and up to, the sum of their respective Capital Contributions in respect of Series B Convertible Preferred Units and Series C Preferred Units (after taking into account prior distributions made pursuant to this clause (a)); (b) Second, to each Member in proportion to, and up to, their respective Capital Contributions in respect of Units (as such Capital Contributions shall have been revalued pursuant to this Agreement and after taking into account prior distributions made pursuant to this clause (b)); (c) Third, to each Member with Series B Convertible Preferred Units and/or Series C Preferred Units ratably in proportion to, and up to, the amount by which the Liquidation Preference (without taking into account any distributions made pursuant to clause (a) above) exceeds the Initial Liquidation Preference for all of the Series B Convertible Preferred Units and/or Series C Preferred Units owned by each such Member; (d) Fourth, to each Member with Series B Convertible Preferred Units and/or Series C Preferred Units in proportion to, and up to, the amount equal to the quotient of: (i) the product of the Tax Rate Differential and the amount distributed to such Member pursuant to clause (c) above, and (ii) the difference between one (1) and the maximum marginal federal income and New York State and New York City individual tax rate (including, to the extent applicable, alternative minimum tax, if any) expressed as a decimal (after taking into account prior distributions made pursuant to this clause (d)); (e) Fifth, to each Member with Series A Preferred Units in proportion to, and up to, the sum of (i) the amount by which the Liquidation Preference exceeds the Initial Liquidation Preference for all of the Series A Preferred Units owned by each such Member and (ii) the aggregate Unpaid Distribution Amount for all of the Series A Preferred Units owned by each such Member; and (f) Sixth, to each Member in proportion to the Percentage Interests. Notwithstanding anything to the contrary above, if Available Cash is derived from a transaction that occurs in connection with the dissolution, termination and liquidation of the Company, any Available Cash that is derived from or attributable to such a transaction shall be distributed to the Members in accordance with Section 13.3. For purposes of this Agreement, the Capital Contributions in respect of Series C Preferred Units shall be deemed to be their Initial Liquidation Preference.

  • 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 Distributable Cash Except as otherwise provided in Article VII hereof, Distributable Cash for each Fiscal Year may be distributed to the Holders at such times, if any, and in such amounts as shall be determined in the sole discretion of the Trustees. In exercising such discretion, the Trustees shall distribute such Distributable Cash so that Holders that are regulated investment companies can comply with the distribution requirements set forth in Code Section 852 and avoid the excise tax imposed by Code Section 4982.

  • Limited Distributions of Income from Trust Account (a) Upon written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit C, the Trustee shall distribute to the Company the amount of interest income earned on the Trust Account requested by the Company to cover any income or other tax obligation owed by the Company. (b) The limited distributions referred to in Section 2(a) above shall be made only from income collected on the Property. Except as provided in Section 2(a), no other distributions from the Trust Account shall be permitted except in accordance with Section 1(i) hereof. (c) The Company shall provide Ladenburg with a copy of any Termination Letters and/or any other correspondence that it issues to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after such issuance.

  • Distributions of Available Cash from Capital Surplus Available Cash that is deemed to be Capital Surplus pursuant to the provisions of Section 6.3(a) shall be distributed, unless the provisions of Section 6.3 require otherwise, to the General Partner and the Unitholders, Pro Rata, until a hypothetical holder of a Common Unit acquired on the Closing Date has received with respect to such Common Unit distributions of Available Cash that are deemed to be Capital Surplus in an aggregate amount equal to the Initial Unit Price. Available Cash that is deemed to be Capital Surplus shall then be distributed (A) to the General Partner in accordance with its Percentage Interest and (B) to all Unitholders holding Common Units, Pro Rata, a percentage equal to 100% less the General Partner’s Percentage Interest, until there has been distributed in respect of each Common Unit then Outstanding an amount equal to the Cumulative Common Unit Arrearage. Thereafter, all Available Cash shall be distributed as if it were Operating Surplus and shall be distributed in accordance with Section 6.4.

  • Capital Contributions and Distributions The Member may make such capital contributions (each a “Capital Contribution”) in such amounts and at such times as the Member shall determine. The Member shall not be obligated to make any Capital Contributions. The Member may take distributions of the capital from time to time in accordance with the limitations imposed by the Statutes.

  • Distributions; Investments (a) Pay any dividends or make any distribution or payment or redeem, retire or purchase any capital stock other than Permitted Distributions; or (b) directly or indirectly acquire or own any Person, or make any Investment in any Person, other than Permitted Investments, or permit any of its Subsidiaries to do so.

  • Cash Distributions Whenever the Depositary receives confirmation from the Custodian of the receipt of any cash dividend or other cash distribution on any Deposited Securities, or receives proceeds from the sale of any Deposited Securities or any other entitlements held in respect of Deposited Securities under the terms hereof, the Depositary will (i) if at the time of receipt thereof any amounts received in a Foreign Currency can in the judgment of the Depositary (pursuant to Section 4.8) be converted on a practicable basis into Dollars transferable to the United States, promptly convert or cause to be converted such cash dividend, distribution or proceeds into Dollars (on the terms described in Section 4.8), (ii) if applicable, establish the ADS Record Date upon the terms described in Section 4.9, and (iii) distribute promptly the amount thus received (net of (a) the applicable fees and charges of, and expenses incurred by, the Depositary and (b) taxes withheld) to the Holders entitled thereto as of the ADS Record Date in proportion to the number of ADSs held as of the ADS Record Date. The Depositary shall distribute only such amount, however, as can be distributed without attributing to any Holder a fraction of one cent, and any balance not so distributed shall be held by the Depositary (without liability for interest thereon) and shall be added to and become part of the next sum received by the Depositary for distribution to Holders of ADSs outstanding at the time of the next distribution. If the Company, the Custodian or the Depositary is required to withhold and does withhold from any cash dividend or other cash distribution in respect of any Deposited Securities an amount on account of taxes, duties or other governmental charges, the amount distributed to Holders on the ADSs representing such Deposited Securities shall be reduced accordingly. Such withheld amounts shall be forwarded by the Company, the Custodian or the Depositary to the relevant governmental authority. Evidence of payment thereof by the Company shall be forwarded by the Company to the Depositary upon request.

  • Distributions of Available Cash From Operating Surplus Available Cash that is deemed to be Operating Surplus pursuant to the provisions of Section 6.3 or Section 6.5 shall be distributed as follows, except as otherwise contemplated by Section 5.6(b) in respect of additional Partnership Interests issued pursuant thereto (including pursuant to Article V with respect to the Preferred Units): (a) First, 100% to the General Partner and the Unitholders, Pro Rata, until there has been distributed in respect of each Unit then Outstanding an amount equal to the Minimum Quarterly Distribution for such Quarter; (b) Second, 100% to the General Partner and the Unitholders, Pro Rata, until there has been distributed in respect of each Unit then Outstanding an amount equal to the excess of the First Target Distribution over the Minimum Quarterly Distribution for such Quarter; (c) Third, (i) to the General Partner in accordance with its Percentage Interest; (ii) 13% to the holders of the Incentive Distribution Rights, Pro Rata; and (iii) to all Unitholders, Pro Rata, a percentage equal to 100% less the sum of the percentages applicable to subclauses (i) and (ii) of this clause (c), until there has been distributed in respect of each Unit then Outstanding an amount equal to the excess of the Second Target Distribution over the First Target Distribution for such Quarter; (d) Fourth, (i) to the General Partner in accordance with its Percentage Interest; (ii) 23% to the holders of the Incentive Distribution Rights, Pro Rata; and (iii) to all Unitholders, Pro Rata, a percentage equal to 100% less the sum of the percentages applicable to subclauses (i) and (ii) of this clause (d), until there has been distributed in respect of each Unit then Outstanding an amount equal to the excess of the Third Target Distribution over the Second Target Distribution for such Quarter; and (e) Thereafter, (i) to the General Partner in accordance with its Percentage Interest; (ii) 48% to the holders of the Incentive Distribution Rights, Pro Rata; and (iii) to all Unitholders, Pro Rata, a percentage equal to 100% less the sum of the percentages applicable to subclauses (i) and (ii) of this clause (e); provided, however, if the Minimum Quarterly Distribution, the First Target Distribution, the Second Target Distribution and the Third Target Distribution have been reduced to zero pursuant to the second sentence of Section 6.6(a), the distribution of Available Cash that is deemed to be Operating Surplus with respect to any Quarter will be made solely in accordance with Section 6.4(e).

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