Xxxxxxx Priority Returns Sample Clauses

Xxxxxxx Priority Returns. (a) Subject to Section 4.5, for each of the periods set forth below during which Xxxxxxx is a Member until the two hundred fortieth (240th) full calendar month of the term of that certain Lease dated January 3, 2001 for the Property (“Lease”) the terms of which are hereby incorporated herein by this reference, Xxxxxxx shall be paid a priority return in an amount equal to the amount set forth below for the applicable period indicated below (each individually a “Priority Return” and collectively, the “Priority Returns”) from the rental income received from Xxxxxxx as tenant under the Lease, provided that payments by Xxxxxxx of the Basic Rent into any lock box established by a lender of the Company in connection with a Loan shall be deemed receipt of payment. “Rent Commencement Date” for purposes of this Section, is January 3, 2001 and the schedules below are to be interpreted as running from the Rent Commencement Date. Period Priority Return/ Month Priority Returns/ Annum Rent Commencement Date through 36th full calendar month $ 34,025.00 $ 408,300.00 37th through 72nd full calendar month $ 40,846.83 $ 490,162.00 73rd through 108th full calendar month $ 45,618.70 $ 547,424.38 109th through 144th full calendar month $ 50,896.73 $ 610,760.72 145th through 180th full calendar month $ 56,731.84 $ 680,782.10 181st through 216th full calendar month $ 63,179.93 $ 758,159.11 217th through 240th full calendar month $ 70,302.29 $ 843,627.51 The foregoing Priority Returns are hereinafter sometimes referred to as the “Schedule A” Priority Returns. Notwithstanding anything contained herein to the contrary, effective upon the closing of the Loan with JPMorgan Chase Bank, a New York banking corporation and payment in full of the Seller Financing Note, as defined in the Contract, the Priority Return shall be changed to the following amounts, for the respective periods set forth below (except that no retroactive adjustments shall be made to the Priority Return): Period Priority Return/ Month Priority Returns/ Annum JPMorgan Loan closing date through January 31, 2004 $ 29,866.67 $ 358,400.00 37th through 72nd full calendar month $ 36,473.67 $ 437,684.00 73rd through 108th full calendar month $ 40,478.58 $ 485,742.92 109th through 144th full calendar month $ 44,935.96 $ 539,231.56 145th through 180th full calendar month $ 49,892.99 $ 598,715.90 181st through 216th full calendar month $ 55,401.52 $ 664,818.27 217th through 240th full calendar month $ 61,518.57 $ 738,222.82 The ...
Sample 1
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Xxxxxxx Priority Returns. Subject to the provisions of this Section 4.5 and 5.2, (i) the Company shall pay to Xxxxxxx cash in the amount of the Priority Returns described in Section 3.4, within one (1) Business Day after receipt of the applicable monthly Basic Rent (as defined in the Lease) for the month to which the Priority Returns relates (the “Applicable Rent”), it being agreed that “receipt” shall be deemed to include payment by Xxxxxxx directly to any Lender pursuant to a Loan or to any lockbox pursuant to a lockbox agreement entered into in connection with the Loan; and (ii) the Company shall not make distributions to the other Members until the Priority Returns have been paid. If the Priority Returns are not timely paid to Xxxxxxx, the Company shall pay interest on such Priority Returns to Xxxxxxx at the Overdue Rate (as defined in the Lease) or the maximum rate permitted by law, whichever is lesser, from the expiration of the three (3) Business Days after the due date until such Priority Returns are actually paid to Xxxxxxx.
Sample 1

Related to Xxxxxxx Priority Returns

  • Priority Tax Claims Except to the extent that a Holder of an Allowed Priority Tax Claim agrees to a less favorable treatment, in full and final satisfaction, settlement, release, and discharge of and in exchange for each Allowed Priority Tax Claim, each Holder of such Allowed Priority Tax Claim shall be treated in accordance with the terms set forth in section 1129(a)(9)(C) of the Bankruptcy Code.

  • Priority and Return of Capital Except as may be provided in this Agreement, no Member shall have priority over any other Member, either as to the return of Capital Contributions or as to profits, losses or distributions; provided that this Section shall not apply to loans (as distinguished from Capital Contributions) that a Member has made to the Company.

  • Priority and Liens (a) Each of the Loan Parties (other than any Loan Party that is not a Debtor) hereby covenants and agrees that upon the entry of an Interim Order (and when applicable, the Final Order) its obligations hereunder and under the Loan Documents and under the US Secured Agreements: (i) pursuant to Section 364(c)(1) of the Bankruptcy Code, shall at all times constitute an allowed Superpriority Claim in the Cases (but excluding a claim on Avoidance Actions and, prior to entry of the Final Order, the proceeds of Avoidance Actions); (ii) pursuant to Section 364(c)(2) of the Bankruptcy Code, shall at all times be secured by a valid, binding, continuing, enforceable perfected first priority Lien (that is subject to the terms of the Intercreditor Agreement) on all of the property of such US Loan Parties, whether now existing or hereafter acquired, that is not subject to valid, perfected, non-voidable liens in existence at the time of commencement of the Cases or to valid, non-voidable liens in existence at the time of such commencement that are perfected subsequent to such commencement as permitted by Section 546(b) of the Bankruptcy Code (limited, in the case of voting equity interests of CFC’s, to 65% of such voting equity interests), and on all of its cash maintained in the L/C Cash Deposit Account and any investment of the funds contained therein, provided that amounts in the L/C Cash Deposit Account shall not be subject to the Carve-Out; (iii) pursuant to Section 364(c)(3) of the Bankruptcy Code, shall be secured by a valid, binding, continuing, enforceable perfected junior Lien upon all property of such US Loan Parties, whether now existing or hereafter acquired, that is subject to valid, perfected and non-voidable Liens in existence at the time of the commencement of the Cases or that is subject to valid Liens in existence at the time of the commencement of the Cases that are perfected subsequent to such commencement as permitted by Section 546(b) of the Bankruptcy Code (other than certain property that is subject to the existing Liens that secure obligations in respect of the Existing Second Lien Debt, which liens shall be primed by the liens described in the following clause (iv)); and (iv) pursuant to Section 364(d)(l) of the Bankruptcy Code, shall be secured by a valid, binding, continuing, enforceable perfected first priority senior priming Lien on all of the property of such US Loan Parties that is subject to the existing liens (the “Primed Liens”) which secure the Existing Second Lien Debt, all of which Primed Liens shall be primed by and made subject and subordinate to the perfected first priority senior Liens to be granted to the Agent, which senior priming Liens in favor of the Agent shall also prime any Liens granted after the commencement of the Cases to provide adequate protection Liens in respect of any of the Primed Liens (i) through (iv) above, subject in each case to the Carve-Out and as set forth in the Orders.

  • Search Results; Lien Terminations Certified copies of Uniform Commercial Code search reports dated a date reasonably near to the Closing Date, listing all effective financing statements which name any Loan Party (under their present names and any previous names) as debtors, together with (a) copies of such financing statements, (b) payoff letters evidencing repayment in full of all Debt to be Repaid, the termination of all agreements relating thereto and the release of all Liens granted in connection therewith, with Uniform Commercial Code or other appropriate termination statements and documents effective to evidence the foregoing (other than Liens permitted by Section 11.2) and (c) such other Uniform Commercial Code termination statements as the Administrative Agent may reasonably request.

  • Priority Debt The Company will not permit Priority Debt to exceed 15% of Consolidated Total Assets (as of the end of the Company’s then most recently completed fiscal quarter) at any time.

  • Priority Allocations (A) If the amount of cash or the Net Agreed Value of any property distributed (except cash or property distributed pursuant to Section 12.4) to any Unitholder with respect to its Units for a taxable year is greater (on a per Unit basis) than the amount of cash or the Net Agreed Value of property distributed to the other Unitholders with respect to their Units (on a per Unit basis), then (1) each Unitholder receiving such greater cash or property distribution shall be allocated gross income in an amount equal to the product of (aa) the amount by which the distribution (on a per Unit basis) to such Unitholder exceeds the distribution (on a per Unit basis) to the Unitholders receiving the smallest distribution and (bb) the number of Units owned by the Unitholder receiving the greater distribution; and (2) the General Partner shall be allocated gross income in an aggregate amount equal to 2/98ths of the sum of the amounts allocated in clause (1) above.

  • Creditor Reports Promptly after the furnishing thereof, copies of any statement or report furnished to any holder of Debt securities of any Loan Party or of any of its Subsidiaries pursuant to the terms of any indenture, loan or credit or similar agreement and not otherwise required to be furnished to the Lender Parties pursuant to any other clause of this Section 5.03.

  • Priority of Distributions On each Distribution Date, the Indenture Trustee shall first reimburse itself for all amounts due under Section 6.7 of the Indenture and then shall make the following deposits and distributions in the amounts and in the order of priority set forth below:

  • DIP Financing (a) If the Company or any Grantor shall be subject to any Insolvency Proceeding at any time prior to the Discharge of ABL Obligations, and the ABL Collateral Agent or the ABL Secured Parties shall seek to provide the Company or any Grantor with, or consent to a third party providing, any financing under Section 364 of the Bankruptcy Code or consent to any order for the use of cash collateral constituting Receivables Collateral under Section 363 of the Bankruptcy Code (each, a “DIP Financing”), with such DIP Financing to be secured by all or any portion of the Receivables Collateral (including assets that, but for the application of Section 552 of the Bankruptcy Code would be Receivables Collateral) but not any other asset or any Non-Receivables Collateral, then the New First Lien Collateral Agent, on behalf of itself and the New First Lien Secured Parties, agrees that it will raise no objection and will not support any objection to such DIP Financing or use of cash collateral or to the Liens securing the same on the grounds of a failure to provide “adequate protection” for the Liens of the New First Lien Collateral Agent securing the New First Lien Obligations or on any other grounds (and will not request any adequate protection solely as a result of such DIP Financing or use of cash collateral that is Receivables Collateral, except as permitted by Section 6.3(b)), so long as (i) the New First Lien Collateral Agent retains its Lien on the Common Collateral to secure the New First Lien Obligations (in each case, including Proceeds thereof arising after the commencement of the case under the Bankruptcy Code); (ii) the terms of the DIP Financing do not compel the applicable Grantor to seek confirmation of a specific plan of reorganization for which all or substantially all of the material terms of such plan are set forth in the DIP Financing documentation or related document; and (iii) all Liens on Common Collateral securing any such DIP Financing shall be senior to or on a parity with the Liens of the ABL Collateral Agent and the ABL Secured Parties securing the ABL Obligations on Common Collateral; provided, however, that nothing contained in this Agreement shall prohibit or restrict the New First Lien Collateral Agent or any New First Lien Secured Party from raising any objection or supporting any objection to such DIP Financing or use of cash collateral or to the Liens securing the same on the grounds of a failure to provide “adequate protection” for the Liens of the New First Lien Collateral Agent on Non-Receivables Collateral securing the New First Lien Obligations.

  • Tax-Free Reorganization Treatment The parties hereto intend that the Merger will qualify as a reorganization within the meaning of Section 368(a) of the Code. Each of the parties hereto shall, and shall cause its respective subsidiaries to, use its reasonable best efforts to cause the Merger to so qualify.

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