Net Cash Receipts means all cash deemed available for distribution and designated as Net Cash Receipts by the General Partner after payment of accrued expenses including, without limitation, the General Partner Builder Expense Reimbursement described in and subject to the terms of Section 8.2 above, and after retention of a minimum working capital reserve in an amount deemed prudent by the General Partner in its sole discretion. The reserve shall be established by the General Partner in amounts which are prudent to meet working capital requirements and reasonable future liabilities and contingencies of the Partnership. No payment of General Partner Builder Expense Reimbursement shall be made unless the General Partner has first reviewed available cash and has determined, on the basis of that review, that payment of such General Partner Builder Expense Reimbursement will not cause inadequate Net Cash Receipts to be available to pay then due First Tier Distributions and Second Tier Distributions as defined and provided for in Section 15.2(a) and (b) below.
Net Cash Receipts means all cash deemed available for distribution and designated as Net Cash Receipts by the General Partner after payment of accrued expenses including, without limitation, the General Partner Builder Expense Reimbursement described in and subject to the terms of Section 8.2 above, and after retention of a minimum working capital reserve equal to $10,000.00 for each dwelling unit which remains to be sold and delivered by the Partnership. The reserve shall be established by the General Partner in amounts which are prudent to meet working capital requirements and reasonable future liabilities and contingencies of the Partnership. No payment of General Partner Builder Expense Reimbursement shall be made unless the General Partner has first reviewed available cash and has determined, on the basis of that review, that payment of such General Partner Builder Expense Reimbursement will not cause inadequate Net Cash Receipts to be available to pay then due First Tier Distributions and Second Tier Distributions as defined and provided for in Section 15.2(a) and (b) below.
Net Cash Receipts means, for any Fiscal Period of the Partnership, all revenues and monies received by the Partnership in that Fiscal Period from or relating to the operation of the Business, including extraordinary receipts such as Capital Contributions of Partners, mortgage or other loan advances, or the proceeds of any sale, exchange, insurance claim, expropriation or other disposition of all or any part of the Property or other assets of the Partnership, after deducting therefrom all expenditures of the Partnership for that Fiscal Period (excepting non-cash expenses such as depreciation, amortization and capital cost allowance) which expenditures may include, without limiting the generality of the foregoing, all operating expenses, extraordinary expenses, debt service payments (including principal and interest payments) and capital expenditures, and after making such allowances and reserves as the General Partner considers reasonably necessary for the proper operation of the Property and Business and anticipated cash shortages in future years;
Examples of Net Cash Receipts in a sentence
If and to the extent Net Cash Receipts after payment of First Tier Distributions are insufficient to pay such Second Tier Distributions at each such closing, such Second Tier Distribution shall not be waived and shall be paid as soon as Net Cash Receipts are sufficient after payment of First Tier Distributions.
To the extent of any Net Cash Receipts remaining after payment of the First Tier Distributions and Second Tier Distributions, any additional Net Cash Receipts shall be paid to the General Partner (“Third Tier Distributions”).
The Limited Partner understands that the distribution tiers described above and as may be referred to or described elsewhere in this Agreement are solely for purposes of determining the order of distribution of Net Cash Receipts and are no guaranties by the Partnership or the General Partner that any specified capital contribution will be repaid or that any other such distributions will be made.
Accordingly, such payments of First Tier Distributions shall be payable during the term of this Agreement commencing with the effective date of this Agreement from Net Cash Receipts if and to the extent Net Cash Receipts are available for payment of First Tier Distributions.
To the extent of Net Cash Receipts, each of the distribution tiers described above other than Second Tier Distributions shall be payable to the applicable Partner once each quarter, commencing as described above after the effective date of this Agreement.
More Definitions of Net Cash Receipts
Net Cash Receipts means the gross cash proceeds from the operation of the Company's business less the portion thereof used to establish reasonable reserves for or to pay Company expenses, debt payments and capital expenditures. "Net Cash Receipts" shall not include any cash proceeds which constitute Net Cash from Sale or Refinancing, shall not be reduced by depreciation, cost recovery, amortization or similar noncash deductions, and shall be increased by any reduction of reserves previously established by the Manager(s).
Net Cash Receipts means the sum of Net Operating Cash Receipts and Extraordinary Cash Flow for the applicable period.
Net Cash Receipts means all of the Company’s liquid funds in excess of the amount set aside for reserves.
Net Cash Receipts. With respect to any period, the amount by which the Gross Cash Receipts in such period exceed the sum of the following: (a) all principal and interest payments on any indebtedness of the Company, and all other sums paid to such lenders in such period, but excluding any payments made pursuant to Article 8; (b) all cash expenditures (including expenditures for capital improvements) made in such period incident to the operation of the Company business, including but not limited to those expenses of the Members paid, either directly or indirectly, by the Company; and (c) working capital and other reserves in such amounts and for such purposes as the Members deem necessary for proper current and future operation of the Company business.
Net Cash Receipts for any consecutive twelve month period, an amount equal to the sum, without duplication of (i) $40 million, (ii) ordinary cash payments actually received during such period by the Borrower from Subsidiaries and Unconsolidated Persons, (iii) interest income of the Borrower, and (iv) the net change (if positive) in receivables due the Borrower from Affiliates, minus the sum of (x) amount of any capital investments or capital expenditures made by the Borrower in any Subsidiary or Unconsolidated Person during such period (but not subtracting capital investments or expenditures made by the Borrower in Acadia or Perryville prior to commercial operation of its respective project and the investments incurred after commencement of commercial operation that were related to the initial start-up of its respective project as described on and in the amounts set forth on Schedule 1.1A) and (y) the net change (if negative) in receivables due the Borrower from Affiliates. Notwithstanding the forgoing, in the event of a Tolling Agreement Counterparty Default, the termination of the relevant Tolling Agreement, any restructuring of such Tolling Agreement or the sale or other disposition of the relevant Subsidiary or relevant Unconsolidated Person, in each case during such period, all cash and other cash distributions received during such period under the relevant Tolling Agreement shall be excluded from Net Cash Receipts from the beginning of such period, provided, however, that Net Cash Receipts for such period shall include, without duplication, (i) cash collateral collections and drawings under letters of credit under which the Borrower, the relevant Subsidiary or the relevant Unconsolidated Person is the beneficiary which are actually received by the Borrower during such period as a result of such Tolling Agreement Counterparty Default and (ii) other cash collections actually received by the Borrower during such period as the result of the termination or restructuring of such Tolling Agreement or the sale of such Subsidiary or Unconsolidated Person. In addition, in the event that a new Tolling Agreement is entered into by a subsidiary or Unconsolidated Person with a new Tolling Agreement Counterparty to replace a Tolling Agreement which has been terminated as a result of a restructuring or a Tolling Agreement Counterparty Default, Net Cash Receipts shall be adjusted on a consistent basis to give pro forma effect to such replacement Tolling Agreement and any changes in th...
Net Cash Receipts means the sum per share of the 1996 Series A Preferred Stock of (i) any net cash received by the Holders of the 1996 Series A Preferred Stock as dividends or distributions on the 1996 Series A Preferred Stock and (ii) any net cash proceeds received by the Holders of the 1996 Series A Preferred Stock from the sale of any Dividend Shares less any and all expenses and costs incurred in connection with the issuance, holding, sale or transfer of such Dividend Shares.
Net Cash Receipts means, for any Fiscal Period of the Partnership, all revenues and monies received by the Partnership in that Fiscal Period from or relating to the operation of the Business, including extraordinary receipts such as capital contributions of Limited Partners, mortgage or other loan advances, or the proceeds of any sale, exchange, insurance claim, expropriation or other disposition of all or any part of the Property, or interest therein, or other assets of the Partnership, after deducting therefrom all expenditures of the Partnership for that Fiscal Period (excepting non-cash expenses such as depreciation, amortization and capital cost allowance) which expenditures may include, without limiting the generality of the foregoing, all operating