Net Capital Event Proceeds means, with respect to any Partnership Asset (or portion thereof), the proceeds, if any, with respect to a Capital Transaction related to such Partnership Asset, net of (a) any costs and expenses incurred in connection with such Capital Transaction, (b) any of such proceeds which are used to repay indebtedness, (c) any insurance proceeds applied to restoration, repair or rebuilding, and (d) any proceeds of business interruption insurance, and after setting aside appropriate reserves, as determined by the General Partner in its sole and absolute discretion.
Net Capital Event Proceeds means the total amount of cash proceeds of a Capital Event actually received by the Company less all transaction costs, fees and applicable taxes payable by the Company or subject to withholding by the Company; provided, however, that if a Capital Event results in a Liquidation, the Net Liquidation Proceeds shall be the Net Capital Event Proceeds in such case. If the Company receives proceeds of a Capital Event in a form other than cash, the Company may convert such consideration to cash in determining the Net Capital Event Proceeds; provided, however, that if such consideration is in the form of digital assets capable of being distributed pro rata to Tokens Holders, the Company may elect to include such assets in Net Capital Event Proceeds without conversion.
Examples of Net Capital Event Proceeds in a sentence
Subject to the provisions of Sections 5.3, 5.4, 8.6(b), 11.6(d) and 13.2, the General Partner shall cause the Partnership to distribute to the Partners as of the applicable Partnership Record Date, at such times as the General Partner shall determine, amounts of Available Operating Cash, Net Sales Proceeds and Net Capital Event Proceeds in the manner set forth in this Section 5.1.
Any Net Capital Event Proceeds in excess Net Sales Proceeds of shall be distributed to the Partners as determined by the General Partner in its sole and absolute discretion in accordance with their respective Percentage Interests as of the applicable Partnership Record Date.
Upon the occurrence of a 100% Property Refinancing or the disposition of a 100% Property, Borrower shall make a mandatory prepayment of the Loan in an amount equal to the sum of (i) the amount of the Net Capital Event Proceeds from such event, plus (ii) the amount of Distributed Reserve Funds received in connection with such event.
To the extent permitted by applicable Law and hereunder, Distributions of Net Capital Event Proceeds shall be made to the Members on each Common Unit as of the close of business on such record date on a pro rata basis in accordance with each Member’s Percentage Interest as of the close of business on such record date.
O t h e rpublicationsThe following publications have been published since the release of the last SFC Alert.
More Definitions of Net Capital Event Proceeds
Net Capital Event Proceeds means, with respect to any fiscal period, the amount of net proceeds from receipt of funds derived from the sale of an asset held for more than one year. Net Capital Event Proceeds shall not include any profits that are tax deferred as a result of exchanges under IRC Section 1031 or investments in Opportunity Zones that have the effect of deferring taxes.
Net Capital Event Proceeds means (a) net proceeds received by a 100% Property fee owner from the disposition of a 100% Property or from a 100% Property Refinancing, and (b) net proceeds received by a Property fee owner of a Property that is not a 100% Property from the disposition of such Property or from a Property Refinancing with respect to such Property to the extent such net proceeds described in clauses (a) or (b) are then distributed, remitted or otherwise paid to (i) the Borrower, (ii) a Wholly Owned Subsidiary which is a direct or indirect parent of such Property fee owner, and/or (iii) a Subsidiary Controlled by Borrower which is also a direct or indirect parent of such Property fee owner (it being acknowledged that for any Subsidiary described in clause (iii), for each such distribution, remittance or payment thereto, Net Capital Event Proceeds shall only refer to the portion thereof to which Borrower or a Wholly Owned Subsidiary is entitled pursuant to the organizational documents of such Subsidiary), and which for both (a) and (b) in this paragraph constitute proceeds after having deducted therefrom in each such case, (i) mortgage loan payoff(s), (ii) broker fees, (iii) third party costs and expenses (including, without limitation, legal fees and closing costs), (iv) disposition and other fees which may be due to a direct or indirect member, partner or shareholder in the Property fee owner that is not Borrower
Net Capital Event Proceeds means (a) net proceeds received by a 100% Property fee owner from the disposition of a 100% Property or from a 100% Property Refinancing, and (b) net proceeds received by a Property fee owner of a Property that is not a 100% Property from the disposition of such Property or from a Property Refinancing with respect to such Property to the extent such net proceeds described in clauses (a) or (b) are then distributed, remitted or otherwise paid to (i) the Borrower, (ii) a Wholly Owned Subsidiary which is a direct or indirect parent of such Property fee owner, and/or (iii) a Subsidiary Controlled by Borrower which is also a direct or indirect parent of such Property fee owner (it being acknowledged that for any Subsidiary described in clause (iii), for each such distribution, remittance or payment thereto, Net Capital Event Proceeds shall only refer to the portion thereof to which Borrower or a Wholly Owned Subsidiary is entitled pursuant to the organizational documents of such Subsidiary), and which for both (a) and (b) in this paragraph constitute proceeds after having deducted therefrom in each such case, (i) mortgage loan payoff(s), (ii) broker fees, (iii) third party costs and expenses (including, without limitation, legal fees and closing costs), (iv) disposition and other fees which may be due to a direct or indirect member, partner or shareholder in the Property fee owner that is not Borroweror a Wholly Owned Subsidiary, (v) amounts set aside as holdbacks or reserves with respect to the Property in question (which holdback or reserve amounts may be held by Borrower or a Wholly Owned Subsidiary in depository accounts separate from the Designated Deposit Account without constituting Net Capital Event Proceeds hereunder), (vi) amounts which the Property fee owner is prohibited from distributing by reason of restrictions contained in any documents or instruments evidencing or securing a mortgage financing relating to the Property in question or any regulatory agreements entered into with the Secretary of Housing and Urban Development (or similar arrangements) in connection therewith, and (vii) other amounts owed by the Property fee owner on account of its Debts and other liabilities.
Net Capital Event Proceeds means the aggregate pre-tax, net proceeds (e.g., after repayment of debt and payment of closing expenses) that the Owners receive on account of their Ownership Interests in connection with the applicable Capital Event.
Net Capital Event Proceeds means the amount by which the gross cash proceeds from the occurrence of a Capital Event (treating the distribution of an Investment in- kind as generating cash proceeds equal to the Fair Market Value of such Investment as of the date of distribution) exceed the sum of (a) the amount required to be paid by the Fund in reduction of prior loans or liens upon Fund property, (b) costs incurred by the Fund in connection with such Capital Event and (c) such reserves as the Managing Member shall deem necessary or appropriate.
Net Capital Event Proceeds means the proceeds received by the Company in connection with a Capital Event less: (i) the amount required to be paid by the Company in reduction of prior loans or liens upon Company property; (ii) costs incurred by the Company in connection with such Capital Event; and (iii) Reserves for the Company as determined by the Manager.
Net Capital Event Proceeds means the proceeds received by the Company in connection with a Capital Event less: (i) the amount required to be paid by the Company in reduction of prior loans or liens upon Company property; (ii) costs incurred by the Company in connection with such Capital Event; and (iii) Reserves for the Company as determined by the Manager. “Net Cash Flow” of the Company as determined for any period shall be computed by deducting from the gross revenues received by the Company during such period from all sources all of the following items: (a) all operating expenses of the business accrued or payable during such period and other fees, taxes, and insurance premiums, but excluding depreciation and amortization allowances, (b) interest and principal payments on indebtedness of the Company (including loans by Members made in accordance with this Agreement) accrued during such period, (c) proceeds received during such period from borrowings, (d) additions to Reserves, and (e) Capital Contributions in the form of cash or cash equivalents received during such period. “Net Loss” means, with respect to a Fiscal Year, the excess if any, of Losses for such Fiscal Year over Profits for such Fiscal Year (excluding Profits and Losses specially allocated pursuant to Section 5.03 and Section 5.04). “Net Profit” means, with respect to a Fiscal Year, the excess if any, of Profits for such Fiscal Year over Losses for such Fiscal Year (excluding Profits and Losses specially allocated pursuant to Section 5.03 and Section 5.04). “Officer” has the meaning set forth in Section 6.01(b). “Original Member” has the meaning set forth in the recitals to this Agreement.