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 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).
Examples of Net Cash Receipts in a sentence
The November 9, 2009 amendment also provided for distributions from Net Cash Receipts, as defined, to be made 99% to limited partners and 1% to The Provo Group, Inc.
See Note 6 for further information.The Partnership Agreement provides that (i) the “Distribution Quarter” is defined as the calendar quarter, and (ii) the distribution provisions are subordinate to the General Partner’s share of distributions from Net Cash Receipts and Net Proceeds to the extent necessary for the General Partner to pay its federal and state income taxes on Partnership income allocated to the General Partner.
Retrieved January 16, 2007, from http://www.education.gov.ab.ca/educationguide/pol‐plan/polregs/ 122.aspAlberta Learning.
A “ Cash Surplus” exists and the Partnership is said to have “Surplus Cash” when the Partnership has positive Net Cash Receipts.
Therefore, the LPA authorizes distribution to Limited Partners of 98% of the Excess Net Cash Receipts, including the Residual Receipts Reserve.
More Definitions of Net Cash Receipts
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;
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) an amount (not in excess of $40 million) equal to the sum of cash and cash equivalents of the Borrower on hand and the unused Commitments, in each case on the date on which the relevant Restricted Payment is declared, (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 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 the sharing of payments from the related project under the joint venture agreement related thereto or other applicable related project contracts (or amendment...
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
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.