Net Cash From Sales means the net cash proceeds from all sales and other dispositions of Property, less any portion thereof used to establish reserves, all as determined by the Manager(s). Net Cash From Sales shall include all principal and interest payments with respect to any note or other obligation received by the Company in connection with the sale or other disposition of Property.
Net Cash From Sales means the gross cash proceeds from all sales or other dispositions (other than leases in the ordinary course of the Company’s or any Subsidiary’s business) of the Company Assets, less the portion thereof used to pay or establish reserves for Company Expenses, debt payments, capital improvements, replacements, mortgage procurement costs or other costs and expenses incurred in connection with the sale, including title, survey, engineering, environmental, appraisal, brokerage expenses, attorneys’ and other professional fees incurred in obtaining such gross cost proceeds and contingencies, in each case in accordance with the Approved Budget or as otherwise determined by the Managing Member. Company Expenses shall be paid and reserves shall be funded first from the cash sources taken into account in computing Net Cash From Operations, and if such amounts are insufficient to pay Company Expenses and fund reserves, cash sources taken into account in computing Net Cash From Sales or Net Cash From Refinancings shall be used for such purpose. Any gross cash proceeds of the Company and its Subsidiaries from any such sales or other dispositions which were used to establish reserves shall be treated as Net Cash From Sales if they are subsequently released.
Net Cash From Sales shall be determined for each Qualified Property separately and shall mean the gross cash proceeds derived from the sale or other disposition (including casualty and condemnation) of such Qualified Property or other capital transaction relating to such Qualified Property (including, without limitation, the sale or other disposition of any outparcel that comprises a portion of such Qualified Property) less (a) any Disposition Fees, all brokerage commissions (if any) paid to Third Parties, all closing, transaction and other costs incurred and paid by the Partnership or the SP Subsidiary that owns such Qualified Property in connection with such sale or other disposition (including casualty and condemnation); (b) all amounts provided to the purchaser of such Qualified Property (or outparcel) as a credit or credits against the contractual purchase price of such Qualified Property or outparcel (excluding credits and adjustments given or made for income or expense prorations, which adjustments shall be included in the calculation of Net Cash Flow from Operations for such Qualified
Examples of Net Cash From Sales in a sentence
Net Cash From Refinancings and Net Cash From Sales shall be distributed within ten (10) Business Days after the receipt thereof.
Except as otherwise provided in Section 15.03, Net Cash From Sales shall be distributed at such times and in such amounts as the General Partner may determine entirely to the Partners, in accordance with each Partner’s Sharing Percentage.
Prior to the occurrence of any event specified in Section 9.1, and subject to availability of funds, applicable law, and any limitations contained elsewhere in this Agreement, Net Cash From Operations and Net Cash From Sales or Refinancings may be distributed at such times and in such amounts as may be approved by the Manager, to Common Members in proportion to their respective Percentage Interests.
The Manager(s) may, from time to time, reinvest all or any portion of Net Cash From Operations and Net Cash From Sales and Net Cash From Refinancings.
Distributions of property other than cash shall be apportioned among the members on the same basis as would be a distribution of Net Cash From Sales in the amount of the fair market value of the distributed property as of the date of distribution, with the same effect on the apportionment of the distribution and all future distributions of cash or other property as a distribution of cash in such amount.
More Definitions of Net Cash From Sales
Net Cash From Sales shall include all principal and interest payments made with respect to any note or other obligation received by the Partnership in connection with the sale or other disposition of the subject Qualified Property or consummation of any such capital transaction.
Net Cash From Sales or Re-financing" means the net cash proceeds from (a) all sales and other dispositions of Company Property, other than (i) a sale of all or substantially all of the Company Property or (ii) sales and other dispositions in the ordinary course of business; and (b) all re-financing of Company Property; less any portion of either used to establish reasonable reserves, all as determined by the Board.
Net Cash From Sales means the proceeds to the Company from the sale, exchange, condemnation (or similar eminent domain taking), receipt of casualty insurance proceeds (excluding any business interruption insurance proceeds), or any disposition or financing of all or substantially all of the Company’s property minus all cash expenditures of the Company incurred in connection with such disposition or financing (including repayment of loans made by third-party lenders to the Company).
Net Cash From Sales shall be determined for each Qualified Property separately and shall mean the gross cash proceeds derived from the sale or other disposition (including casualty and condemnation) of such Qualified Property or other capital transaction relating to such Qualified Property less (a) any Disposition Fees, all brokerage commissions (if any) paid to Third Parties, all closing, transaction and other costs incurred and paid by the Partnership or the SP Subsidiary that owns such Qualified Property in connection with such sale or other disposition (including casualty and condemnation); (b) all amounts provided to the purchaser of such Qualified Property as a credit or credits against the contractual purchase price of such Qualified Property (excluding credits and adjustments given or made for income or expense prorations, which adjustments shall be included in the calculation of Net Cash Flow from Operations for such Qualified Property); (c) the net amount required to retire any debt outstanding against such Qualified Property or the assets involved in such capital transaction (including all costs, expenses and fees incurred in connection therewith, but only if and to the extent that such costs, expenses and fees are not already deducted pursuant to clause (a) above); (d) solely in the case of casualty or condemnation, all proceeds applied to rebuild, repair or restore all or any portion of such Qualified Property; and (e) any amounts required to fund any reserves to be used for the liabilities arising as a result of or subsequent to the sale of such Qualified Property, or as a result of or subsequent to consummation of such capital transaction, up to the levels agreed to by the General Partners, unless and until such reserves are distributed to the Partners (in which event the distributed reserves will be treated as Net Cash from Sales). Upon the sale or total disposition of a Qualified Property, or the occurrence of any casualty or condemnation of a Qualified Property resulting in a total loss of the Qualified Property, all unapplied reserves originally funded pursuant to the definition of “Net Cash Flow from Operations” for such Qualified Property shall be distributed to the Partners, and Net Cash from Sales shall be increased by all such distributed reserve amounts. “Net Cash from Sales” shall include all principal and interest payments made with respect to any note or other obligation received by the Partnership in connection with the sale or other disposition o...
Net Cash From Sales. , "Net Cash From Refinancing" or "Net Cash From ------------------------------------------------------------------- Sales or Refinancing" shall mean, as the context may require, the net cash -------------------- proceeds from all sales and other dispositions (excluding dispositions in the ordinary course of business or in the case of any involuntary conversion of assets having an aggregate book value not exceeding $500,000, but including, without limitation, (i) the proceeds of insurance received by the Partnership or the Managing General Partner from any insurer pursuant to the insurance maintained under subsection 7.2(f) hereof and subsection 6.5(a) of the General Partner Term Loan Agreement and (ii) all awards and proceeds of a Taking with respect to the Project) and all refinancing of Partnership property, less any portion thereof used to establish reserves or to pay the cost of renewing, repairing, rebuilding or otherwise replacing damaged or destroyed or lost property in respect of which insurance proceeds or awards or proceeds of a Taking were received in accordance with subsection 4.05(d) of the Security Deposit Agreement. "Net Cash From Sales or Refinancing" shall include only principal payments with respect to any note or other obligation received by the Partnership in connection with sales and other dispositions (other than in the ordinary course of business or in the case of any involuntary conversion of assets having an aggregate book value not exceeding $500,000) of Partnership property.
Net Cash From Sales means (i) the cash realized by the Company from the sale, exchange, condemnation, casualty or other disposition of all or any portion of Company assets (other than inventory sold in the ordinary course), less the retirement of any related secured loans, the payment of all expenses relating to the transaction and the establishment of such reasonable reserves as the Board of Managers shall deem prudent or necessary and (ii) the cash realized by the Company from any entity in which the Company owns an interest, from the sale, exchange, condemnation, casualty or other disposition of all or any portion of such entity’s assets (other than inventory sold in the ordinary course), less the retirement of any related secured loans by the Company and the payment of all expenses of the Company relating to such transaction.
Net Cash From Sales means the gross cash proceeds from all sales or other dispositions (other than leases in the ordinary course of the Company’s or any Subsidiary’s business) of the Company Assets, less the portion thereof used to pay or establish reserves for Company Expenses, debt payments, capital improvements, replacements, mortgage procurement costs or other costs and expenses incurred in connection with the sale, including title, survey, 42 ACTIVE 203377426v.6 engineering, environmental, appraisal, brokerage expenses, attorneys’ and other professional fees incurred in obtaining such gross cost proceeds and contingencies, in each case in accordance with the Approved Budget or as otherwise determined by the Managing Member. Company Expenses shall be paid and reserves shall be funded first from the cash sources taken into account in computing Net Cash From Operations, and if such amounts are insufficient to pay Company Expenses and fund reserves, cash sources taken into account in computing Net Cash From Sales or Net Cash From Refinancings shall be used for such purpose. Any gross cash proceeds of the Company and its Subsidiaries from any such sales or other dispositions which were used to establish reserves shall be treated as Net Cash From Sales if they are subsequently released.