Q Xxxxx Phase VIII Investors Sample Clauses

Q Xxxxx Phase VIII Investors. As a condition precedent to the receipt of funds pursuant to Sections 3(d)(vi) and 3(d)(vii) of this Agreement, the Q Xxxxx Phase VIII Investors who will be receiving a refund of their Five Hundred Thousand Dollar ($500,000.00) principal investments must first execute a Phase VII and VIII Investor Release (Exhibit “E”) of all claims in favor of the Xxxxxxx Xxxxx Released Parties, the Receiver, and the Receivership Estate, except as provided in this Section 5(d)(iii). The Receiver shall not disburse funds to x X Xxxxx Phase VIII Investor pursuant to Section 3(d)(vi) or 3(d)(vii) unless such Investor first executes the Investor Release. All Q Xxxxx Phase VIII Investors receiving funds pursuant to Section 3(d)(vi) and 3(d)(vii) of this Agreement shall be permitted to make a claim in the Receivership Estate for the amount of their administrative fee payment (up to, but not exceeding, Fifty Thousand Dollars ($50,000.00)), but such claims shall be paid solely from the net proceeds (as defined in Section 6(b) below) of the sale of their respective right to receive proceeds from their interests in Q Xxxxx Phase VIII’s property and, thereafter, the Q Xxxxx Phase VIII Investors’ claim to an administrative fee payment shall be deemed satisfied.
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Q Xxxxx Phase VIII Investors. As a condition precedent to the receipt of funds pursuant to Sections 3(d)(vi) and 3(d)(vii) of this Agreement, in addition to executing the Phase VII and VIII Investor Release, the Q Xxxxx Phase VIII Investors who receive funds must assign to Xxxxxxx Xxxxx, certifying that they have not placed any liens and encumbrances, and that they are not aware of any liens or encumbrances (other than those provided by this Section), their respective right to receive proceeds from their interests in Q Xxxxx Phase VIII by executing an Assignment of Proceeds in substantially the same form as the attached Exhibit “I”. The Receiver shall not disburse funds to x X Xxxxx Phase VIII Investor pursuant to Sections 3(d)(vi) and 3(d)(vii) unless such Investor executes an Assignment of Proceeds. The Assignment of Proceeds shall conform to Section 5(d)(iii) above. Subject to the terms of Section 5(d)(iii) above, Xxxxxxx Xxxxx shall be entitled to receive all proceeds to the fullest extent of the Investor’s Q Xxxxx Phase VIII partnership interests, with no exclusions or offsets that are not applied to all other Q Xxxxx Phase VIII Investors.
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