Revenue Distributions. Seller shall be entitled to all Net Revenues earned (on an accrual basis) as called for under the Prior Management Agreements for all periods prior to the Closing Date. Seller has not directly or indirectly received any prepayment or distribution of Net Revenues or other distributions (including casualty payments) for any period on or after the Closing Date. As of the Closing Date, Seller has paid or satisfied all prior operating deficit balances relating to periods of allocated expenses in excess of allocated revenues, and there are no accrued deficits which could be offset against Net Revenues allocable to Buyer hereunder.
Appears in 5 contracts
Samples: Container Purchase Agreement (Iea Income Fund Ix L P), Container Purchase Agreement (Iea Income Fund X Lp), Container Purchase Agreement (Iea Income Fund Viii)
Revenue Distributions. Seller shall be entitled to all Net Revenues earned (on an accrual basis) as called for under the Prior Management Agreements for all periods prior to the Closing Effective Date. Seller has not directly or indirectly received any prepayment or distribution of Net Revenues or other distributions (including casualty payments) for any period on or after the Closing Effective Date. As of the Closing Effective Date, Seller has paid or satisfied all prior operating deficit balances relating to periods of allocated expenses in excess of allocated revenues, and there are no accrued deficits which could be offset against Net Revenues allocable to Buyer hereunder.
Appears in 2 contracts
Samples: Container Purchase Agreement (Iea Income Fund Xii Lp), Container Purchase Agreement (Iea Income Fund Xi Lp)
Revenue Distributions. Seller shall be entitled to all Net Revenues earned (on an accrual basis) as called for under the Prior Management Agreements for all periods prior to the Closing Date. , Seller has not directly or indirectly received any prepayment or distribution of Net Revenues or other distributions (including casualty payments) for any period on or after the Closing Date. As of the Closing Date, Seller has paid or satisfied all prior operating deficit balances relating to periods of allocated expenses in excess of allocated revenues, and there are no accrued deficits which could be offset against Net Revenues allocable to Buyer hereunder.
Appears in 1 contract
Samples: Container Purchase Agreement (Iea Income Fund Viii)
