Net Extraordinary Cash Flow definition

Net Extraordinary Cash Flow. The amount remaining, if any, after subtracting from cash receipts arising from a Major Capital Event (i) all expenses of, and payments and deposits by, the Company related to such Major Capital Event, including, without limitation, any payment made in respect of any indebtedness encumbering the Property, and (ii) such reasonable reserves for the business of the Company as may be authorized pursuant to any Annual Plan, as modified from time to time, and (iii) the payment of all outstanding principal and interest due with respect to Company Loans, if any. Net Extraordinary Cash Flow shall not include NIC Funds or interest earnings thereon, which shall be applied or distributed solely in accordance with Sections 5.2(h)(i) and 5.1(d).

Net Extraordinary Cash Flow means the amount, if any, remaining after subtracting from cash receipts arising from a Major Capital Event (a) all expenses of the Venture or a Subsidiary related to such Major Capital Event, (b) the debts and liabilities of the Venture or a Subsidiary to the extent paid or satisfied in connection with such Major Capital Event, and (c) Reserves established in accordance with Section 7.02 or, in the case of a Mortgage Loan, any Reserves required by the applicable lender to be funded out of the loan proceeds, in connection with such Major Capital Event (it being understood that the reduction or release of any such Reserves, other than for payment of the items for which the applicable Reserve was established, shall be treated as Net Extraordinary Cash Flow). Net Extraordinary Cash Flow shall be determined on the cash basis of accounting.

Net Extraordinary Cash Flow. The sum of Net Extraordinary Cash Flow from Additional Properties and Net Extraordinary Cash Flow from Initial Properties.

Examples of Net Extraordinary Cash Flow in a sentence

• All cash flow distributions from any Subsidiary to the Company shall be characterized as Net Ordinary Cash Flow or Net Extraordinary Cash Flow of the Company in accordance with the terms of this Agreement and shall be retain such characterization for all purposes hereunder, including, but not limited to, distributions to Members.

• No Member shall be entitled to receive any money or property from the Company except (a) by way of distributions upon the winding up of the Company pursuant to Article 12, (b) by way of distributions of Net Ordinary Cash Flow and Net Extraordinary Cash Flow as provided pursuant to Section 7.4, (c) in respect of any bona fide loans to the Company then due and owing and (d) as expressly provided elsewhere in this Agreement.

• Prior to the distribution by the Manager of any Net Ordinary Cash Flow, Net Extraordinary Cash Flow or Incentive Distribution to the Members, the Manager shall cause the principal amount and any interest due and owing on any Company Loan made by Members to the Company to be repaid in full.

• If any Guarantor is required to make any payment with respect to a guarantee of any Company indebtedness, the Company shall reimburse such Guarantor for such payment and all costs and expenses of the Guarantor in connection therewith from the next distribution of Net Ordinary Cash Flow or Net Extraordinary Cash Flow, before making any other distributions to Members pursuant to this Agreement.

• For purposes of determining whether the IRR has been met hereunder, if any Member hereafter acquires a Property from the Company in accordance with the terms of this Agreement, or otherwise, any distributions made by the Company to the Members as a result of such transaction, whether in cash or in-kind, shall be deemed to have been a distribution of Net Extraordinary Cash Flow to the Members.

More Definitions of Net Extraordinary Cash Flow

Net Extraordinary Cash Flow. The amount remaining, if any, after subtracting from cash receipts arising from a Major Capital Event (i) all expenses of, and payments and deposits by, the Company related to such Major Capital Event, including, without limitation, any payment made in respect of any indebtedness encumbering the Property, and (ii) such reasonable reserves for the business of the Company as may be authorized pursuant to any Annual Plan, as modified from time to time, and (iii) the payment of all outstanding principal and interest due with respect to Company Loans, if any.

Net Extraordinary Cash Flow shall have the meanings set forth in each Reckson Entity Agreement);

Net Extraordinary Cash Flow means the amount, if any, remaining after subtracting from cash receipts arising from a Major Capital Event (a) all expenses of the Venture or a Subsidiary related to such Major Capital Event, (b) the debts and liabilities of the Venture or a Subsidiary to the extent paid or satisfied in connection with such Major Capital Event, and (c) Reserves established by the NorthStar Member in connection with such Major Capital Event (it being understood that the reduction or release of any such Reserves, other than for payment of the items for which the applicable Reserve was established, shall be treated as Net Extraordinary Cash Flow). Net Extraordinary Cash Flow shall be determined on the cash basis of accounting.

Net Extraordinary Cash Flow. The amount remaining, if any, after --------------------------- subtracting from cash receipts arising from a Major Capital Event (i) all expenses of the Partnership related to such Major Capital Event, including, without limitation, all Indebtedness of the Partnership actually paid by reason of the occurrence of such Major Capital Event and (ii) such reasonable reserves for the business of the Partnership as may be established by the Managing Partner.

Net Extraordinary Cash Flow means, with respect to the Partnership, (a) the net cash proceeds received by the Partnership in connection with the Partnership’s disposition in a Capital Event of any of its assets, including its equity interests in any REIT Entity, or any REIT Entity’s disposition in a Capital Event of any of its assets, including its equity interests in any Property Entity, in each case after subtracting such reasonable reserves approved by the General Partner, as modified from time to time, (b) the Partnership’s distributive share paid or to be paid by the REIT Entity with respect to the Partnership’s ownership interest therein of the REIT Entity’s distributive share paid or to be paid by the Property Entity with respect to the REIT Entity’s ownership interest therein of the amount remaining, if any, after subtracting from the cash receipts (but not Receipts) arising from a Capital Event with respect to the Owned Property owned by the Property Entity (i) all expenses of, and payments and deposits by or on behalf of, the Property Entity related to such Capital Event, including, without limitation, any payment made in respect of any indebtedness encumbering such Owned Property, and (ii) such reasonable reserves for the Property Entity approved by the General Partner, as modified from time to time, and (iii) the payment of all outstanding principal and interest due with respect to Partnership Loans with respect to such Owned Property, if any, and (c) cash proceeds received by the Partnership to the extent such cash proceeds were released from reserves previously established by the General Partner and referred to in either clause (a) or clause (b) above.

Net Extraordinary Cash Flow. The amount, if any, remaining after subtracting from cash receipts arising from a Major Capital Event (a) all costs, charges and expenses of the LLC related to such Major Capital Event (including, without limitation, any transaction costs, loan repayment costs, prepayment premiums and amounts paid to Metro919 pursuant to Section 4.01(e)) and (b) Capital Reserves. Net Extraordinary Cash Flow shall include any reduction of Capital Reserves. Additionally, Net Extraordinary Cash Flow shall include the sum of the following amounts:

Net Extraordinary Cash Flow. The amount, if any, remaining after subtracting from cash receipts arising from a Major Capital Event (a) all expenses of the LLC related to such Major Capital Event and (b) such reserves for the business of the LLC as may be reasonably established by the Operating Member and reasonably approved by TIAA LLC. Net Extraordinary Cash Flow shall be determined on the cash basis of accounting.