Capital Transaction Proceeds means the net cash proceeds of a Capital Transaction, after deducting all expenses incurred in connection therewith and after application of any proceeds, at the sole discretion of the General Partner, toward the payment of any indebtedness of the Partnership whether or not secured by the property that is the subject of that Capital Transaction, the purchase, improvement or expansion of Partnership property, or the establishment of any reserves deemed reasonably necessary by the General Partner, including reserves for the purchase, improvement or expansion of Partnership property.
Capital Transaction Proceeds means the proceeds of the sale, exchange, or other disposition in a single transaction or series of related transactions of all or substantially all of the assets of the Partnership followed by a liquidation of the Partnership. For the avoidance of doubt, Capital Transaction Proceeds shall not include Operating Cash Flow.
Capital Transaction Proceeds means all proceeds from a Capital Transaction less the sum of (i) any escrow or reserve required in connection with, or costs and expenses of the Company attributable to, such Capital Transaction, including, without limitation, any holdback escrow (or similar closing reserve or escrow, provided that, in each instance, all such reserves shall be deemed Capital Transaction Proceeds upon their subsequent release), taxes, prepayment fees or penalties, brokerage fees, escrow fees, title costs and expenses, appraisal fees, consultant fees, audit and tax costs, closing costs and expenses including attorneys’ fees (but excluding amounts paid from the Company’s reserves or funds provided by Capital Contributions and paid during such fiscal year (or portion thereof) for such costs and expenses); and (ii) reasonable reserves needed for the Company’s business for the remainder of such fiscal year and future periods based on the Initial LLC Budget or any subsequent Annual LLC Budget or otherwise approved by the Members.
Examples of Capital Transaction Proceeds in a sentence
In the event of uncertainty or ambiguity as to whether a source of income is categorized as Periodic Cash Flow or Capital Transaction Proceeds, the Manager shall have the sole and absolute discretion to determine such category.
There are two general categories of income derived from a Series: (1) Periodic Cash Flow; and (2) Capital Transaction Proceeds.
More Definitions of Capital Transaction Proceeds
Capital Transaction Proceeds means the net proceeds attributable to a Capital Transaction, determined after any repayments of Debt made, or expenses incurred, in connection with such Capital Transaction.
Capital Transaction Proceeds shall refer to transaction-based income derived from a Property. Transaction-based income include, without limitation, the sale, refinance, and/or disposition of a Property.
Capital Transaction Proceeds means the net proceeds received by the Company from any Capital Transaction after the payment of (i) all reasonable and customary costs, expenses, charges, fees, including collection expenses and taxes paid by the Company (other than taxes imposed on Members in their individual capacities), and other reasonable and customary expenses related thereto, (ii) any costs of restoration or repair of the Property performed in connection with such Capital Transaction, or any other capital expenditures or other reasonable and customary expenses for which such proceeds or awards are used, and/or (iii) any mortgage loan, including debt service payments hereunder, or any other debts or liabilities of the Company that are being refinanced, discharged or paid with such proceeds.
Capital Transaction Proceeds means the gross receipts received by the Partnership or any Facilities Portfolio Subsidiary from a Capital Transaction, less any expenses related to the Capital Transaction as determined by the General Partner.
Capital Transaction Proceeds means the cash or marketable securities received by the Company as a result of a Capital Transaction.
Capital Transaction Proceeds means the net cash proceeds of a Capital Transaction, after deducting all expenses incurred in connection therewith and after application of any proceeds, at the sole discretion of the General Partner, toward the payment of any indebtedness of the Partnership secured by the property that is the subject of that Capital Transaction, the purchase, improvement or expansion of Partnership property, or the establishment of any reserves deemed reasonably necessary by the General Partner; provided, however, that if the Partnership obtains financing for Partnership properties for which no permanent financing has previously been obtained, the proceeds of such financing shall not be deemed to be Capital Transaction Proceeds if and to the extent that the General Partner determines to reinvest such proceeds in additional and existing real property investments of the Partnership.
Capital Transaction Proceeds means the net amounts received resulting from any Capital Transactions after deducting (a) all costs and expenses of the Company directly related to the Capital Transaction, (b) the amount (if any) to discharge all debts and obligations of the Company required to be paid as a result of the Capital Transaction, and (c) any reasonable reserves that are required for the fixed, contingent or future liabilities or obligations of the Company.