Net Proceeds from Sale definition

Net Proceeds from Sale means the gross proceeds from a sale of the Property minus all normal and customary closing costs payable by Lender in connection with such sale. Upon a sale or other transfer or conveyance of the Property in accordance with Section 5.4 above, the Net Proceeds from such sale shall be distributed as follows: (i) first, to Xxxxxxxxx Funding, L.L.C., a Delaware limited liability company (“Xxxxxxxxx”), to the extent necessary to satisfy amounts then due and owing to Xxxxxxxxx pursuant to the loan extended by Xxxxxxxxx (or by lenders for which Xxxxxxxxx acts as agent) to Borrower and secured by a first priority lien on the Property, as evidenced by that certain Loan Agreement dated as of March 16, 2007 between Borrower and Xxxxxxxxx, as amended and related Construction Deed of Trust and Fixture Filing, of even date therewith and recorded in the Official Records of Tarrant County Texas, under document number D207095284 (such Loan Agreement and Construction Deed of Trust and Fixture Filing, and all documents and instruments evidencing or securing the loan referenced in such Loan Agreement and Construction Deed of Trust and Fixture Filing being referred to herein as the “Xxxxxxxxx Loan Documents”); (ii) second, Eleven Million Dollars ($11,000,00.00) to Lender, plus any out-of-pocket expenses of Lender and advances of working capital made by Lender with respect to the Property after the Effective Date to satisfy operating cash shortfalls for the Property, plus any payments made by Lender to Xxxxxxxxx which reduces the principal amount due under the Xxxxxxxxx Loan Documents; (iii) third, Three Million Dollars ($3,000,000.00) to PHM Services; and (iv) fourth, after payments of the amounts described in subparts (i) through (iii) above, fifty percent (50%) to Lender and fifty percent (50%) to PHM Services. The rights of PHM Services under this Section 6 shall serve as separate and independent consideration for PHM Services’ agreement to serve as asset manager of the Property and to market the Property pursuant to Section 5 above.
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Net Proceeds from Sale means, on a sale of a Property, all receipts of the Limited Partnership arising from the Sale, including any principal and interest payments received by the Limited Partnership on any vendor financing taken back on such Sale, less the costs and expenses of the Sale.
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Net Proceeds from Sale means all receipts of the Partnership arising from the Partnership’s ownership of the Property upon a sale or other disposition of the Real Property by the USLP (Owner), in accordance with the terms of the USLP (Owner) Partnership Agreement.
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Examples of Net Proceeds from Sale in a sentence

  • A failure to complete and submit the required application information may result in an applicant not being eligible to receive CDBG, HOME or NAHTF resources.Department staff will utilize the closing statement from the sale of the subject property to ensure compliance with this policy for the Recapture of Net Proceeds from Sale of Homebuyer and Homeowner Projects.

  • Net Proceeds from Sale of BusinessThe balance of the purchase price for the sale of the business was $5,040,000.

  • If there are no Net Proceeds from Sale, then the City shall forgive the remaining balance of the loan.

  • Some months ago there was a nationwide call for people to go and be tested, two days were set aside, and we spoke about it in many of the churches.

  • Net Proceeds from Sale, Lease or Rental of Land G.S. 146-30 (http://www.ncga.state.nc.us/gascripts/statutes/statutelookup.pl?statute=146-30) provides that the net proceeds from the sale, lease, rental, or other disposition of lands by an agency be deposited with the State Treasurer to be credited to the General Fund.

  • Net Proceeds from Sale of Contributed Property An individual for income tax purposes can deduct a charitable contribution only in the year in which the contribution is actually paid or ownership has transferred (excess contributions above adjusted gross income percentage limitations may be carried forward for up to five additional years).

  • There was a 2% increase in the Net Proceeds from Rental year- over-year while Net Proceeds from Sale remained negligible because no development projects closed during the period.

  • The aid to a particular institution could be due to a variety of reasons such as, its geographical location; the students population that is served by a particular institution, the economic and social status of students and teachers, the imperatives of setting up an educational institution to promote literacy, provide employment opportunities to teachers etc.

  • CM gives insight in the differences in level of development between the several sub-systems, and what consequences these differences have.

  • Net Proceeds from Sale of the Vendor SharesThe estimated net proceeds attributable to the Vendors from the sale of the Vendor Shares after deducting the Vendors’ share of underwriting commission, placement commission and brokerage (estimated to be approximately S$1.3 million), will be approximately S$48.2 million.


More Definitions of Net Proceeds from Sale

Net Proceeds from Sale means all receipts arising from a Sale including the amount of any mortgage taken back on such Sale, less the costs and expenses of such Sale, all as determined by the General Partner;
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Net Proceeds from Sale shall refer to the sale of the corporate entity and shall mean the net realized value after costs such as original licensing fees, marketing and closing costs. “Net Receipts” shall mean the gross amount recognized as income on Licensee’s books (pursuant to generally accepted accounting principles consistently applied) in connection with the sale of a Product, less deductions for payment of sales, value added or any similar taxes, and shipping and insurance charges, as well as less deductions for returned products, with respect to such Product. “Product” shall mean any integration work utilizing the Technology. 2
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Net Proceeds from Sale means all receipts of the Limited Partnership arising from a Sale, including any principal and interest payments received on any vendor financing taken back on such Sale, less the costs and expenses of the Sale and amounts required to discharge any encumbrances registered against the Oil and Gas Properties.
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Net Proceeds from Sale shall refer to the sale of the corporate entity and shall mean the net realized value after costs such as original licensing fees, marketing and closing costs.
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Net Proceeds from Sale the net proceeds that Seller will receive at Closing calculated consistently with Schedule 9.1(e). As of the date of this Agreement, the Net Proceeds From Sale are estimated to be $5,437,152.
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Related to Net Proceeds from Sale

  • Net Proceeds Amount means, with respect to any Transfer of any property by any Person, an amount equal to the difference of

  • Net Proceeds means the aggregate cash proceeds received by the Company or any of its Restricted Subsidiaries in respect of any Asset Sale (including, without limitation, any cash received upon the sale or other disposition of any non-cash consideration received in any Asset Sale), net of the direct costs relating to such Asset Sale, including, without limitation, legal, accounting and investment banking fees, and sales commissions, and any relocation expenses incurred as a result of the Asset Sale, taxes paid or payable as a result of the Asset Sale, in each case, after taking into account any available tax credits or deductions and any tax sharing arrangements, and amounts required to be applied to the repayment of Indebtedness, other than Indebtedness under a Credit Facility, secured by a Lien on the asset or assets that were the subject of such Asset Sale and any reserve for adjustment in respect of the sale price of such asset or assets established in accordance with GAAP.

  • Asset Sale Proceeds means, with respect to any Asset Sale,

  • Net Asset Sale Proceeds means, with respect to any Asset Sale, an amount equal to (i) cash payments (including any cash received by way of release from escrow or deferred payment pursuant to, or by monetization of, a note receivable or otherwise, but only as and when so received) received by Holdings, any Borrower or any of the Restricted Subsidiaries from such Asset Sale, minus (ii) any bona fide direct costs incurred in connection with such Asset Sale, including (a) sales, transfer, income, gains or other taxes payable (or estimated in good faith by Holdings to become payable) in connection with such Asset Sale, (b) payment of the outstanding principal amount of, premium or penalty, if any, and interest on any Indebtedness (other than the Loans, any Junior Financing, any Credit Agreement Refinancing Indebtedness or any Second Lien Term Facility Indebtedness) that is secured by a Lien on the Equity Interests or assets in question and that is required to be repaid under the terms thereof as a result of such Asset Sale, (c) a reasonable reserve established in accordance with GAAP against any adjustment to the sale price or any liabilities (other than any taxes deducted pursuant to clause (a) above) (x) related to any of the applicable assets and (y) retained by the Borrowers or applicable Restricted Subsidiary, including, without limitation, pension and other post-employment benefit liabilities related to environmental matters or for any indemnification payments (fixed or contingent) attributable to seller’s indemnities and representations and warranties to purchaser in respect of such Asset Sale undertaken by Holdings, any Borrower or any of the Restricted Subsidiaries in connection with such Asset Sale; provided, upon release of any such reserve, the amount released shall be considered Net Asset Sale Proceeds, (d) the out of pocket expenses, costs and fees incurred with respect to legal, investment banking, brokerage, advisor and accounting and other professional fees, sales commissions and disbursements, survey costs, title insurance premiums and related search and recording charges, in each case actually incurred in connection with such sale or disposition and payable to a Person that is not an Affiliate of Holdings, (e) in the case of any Asset Sale by a non-wholly-owned Restricted Subsidiary, the pro rata portion of the Net Asset Sale Proceeds thereof (calculated without regard to this clause (e)) attributable to minority interests and not available for distribution to or for the account of any Borrower or a wholly-owned Restricted Subsidiary as a result thereof and (f) in the case of any such cash payments received (or subsequently received) by any Foreign Subsidiary, any taxes that would be payable (or estimated in good faith by Holdings to become payable) in connection with the repatriation of such cash proceeds to any Borrower or any Guarantor Subsidiary.

  • Net Disposition Proceeds means, with respect to any sale, transfer or other disposition of any assets of the Borrower, any Parent Guarantor or any of their respective Subsidiaries (other than sales permitted pursuant to clause (a), (b) or (c) of Section 7.2.9), the excess of

  • Net Sale Proceeds means, with respect to any Asset Sale (including, without limitation, any cash or Cash Equivalents received upon the sale or other disposition of any Designated Non-cash Consideration received in any Asset Sale), an amount in cash equal to the gross cash proceeds (including any cash received by way of deferred payment pursuant to a promissory note, receivable or otherwise, but only as and when received) received from such Asset Sale, net of (i) costs of, and expenses associated with, such Asset Sale (including fees and commissions), (ii) any taxes paid or payable as a result of such Asset Sale (including Lead Borrower’s good faith estimate of any incremental income taxes that will be payable as a result of such Asset Sale, including pursuant to tax sharing arrangements or any tax distributions), (iii) payments of unassumed liabilities relating to the assets sold and required payments of any Indebtedness or other obligations (other than the Loans and Indebtedness secured on a pari passu or junior basis to the Loans) which are secured by the assets which were sold or would be in default under the terms thereof as a result of such Asset Sale), (iv) amounts provided as a reserve in accordance with U.S. GAAP against any liabilities under any indemnification obligation or purchase price adjustment associated with such Asset Sale (provided that to the extent and at the time any such amounts are released from such reserve to Lead Borrower or any of its Restricted Subsidiaries, such amounts shall constitute Net Sale Proceeds), (v) cash escrows from the sale price for such Asset Sale (provided that to the extent and at the time any such amounts are released from escrow to Lead Borrower or any of its Restricted Subsidiaries, such amounts shall constitute Net Sale Proceeds) and (vi) to the extent such Asset Sale involves any disposition of Investments made after the First Restatement Effective Date, the permissibility of which was contingent upon the utilization of the Available Amount, the portion of the Available Amount so utilized in connection with such initial Investment.

  • Sale Proceeds means the net proceeds from the sale and/or realisation of the Charged Assets (excluding any Charged Assets which comprise cash) by the Realisation Agent in accordance with the Conditions (after deduction therefrom by the Realisation Agent of its usual fees and any costs and expenses incurred in connection with the sale of such Charged Assets). 7. Additional Provisions:

  • Net Cash Proceeds with respect to any issuance or sale of Capital Stock, means the cash proceeds of such issuance or sale net of attorneys' fees, accountants' fees, underwriters' or placement agents' fees, discounts or commissions and brokerage, consultant and other fees actually incurred in connection with such issuance or sale and net of taxes paid or payable as a result thereof.

  • Net Sales Proceeds means, in the case of a transaction described in clause (i)(A) of the definition of Sale, the proceeds of any such transaction less the amount of selling expenses incurred by or on behalf of the Company, including all real estate commissions, closing costs and legal fees and expenses. In the case of a transaction described in clause (i)(B) of the definition of Sale, Net Sales Proceeds means the proceeds of any such transaction less the amount of selling expenses incurred by or on behalf of the Company, including any legal fees and expenses and other selling expenses incurred in connection with such transaction. In the case of a transaction described in clause (i)(C) of the definition of Sale, Net Sales Proceeds means the proceeds of any such transaction actually distributed to the Company or the Operating Partnership from the Joint Venture less the amount of any selling expenses, including legal fees and expenses incurred by or on behalf of the Company (other than those paid by the Joint Venture). In the case of a transaction or series of transactions described in clause (i)(D) of the definition of Sale, Net Sales Proceeds means the proceeds of any such transaction (including the aggregate of all payments under a Mortgage on or in satisfaction thereof other than regularly scheduled interest payments) less the amount of selling expenses incurred by or on behalf of the Company, including all commissions, closing costs and legal fees and expenses. In the case of a transaction described in clause (i)(E) of the definition of Sale, Net Sales Proceeds means the proceeds of any such transaction less the amount of selling expenses incurred by or on behalf of the Company, including any legal fees and expenses and other selling expenses incurred in connection with such transaction. In the case of a transaction described in clause (ii) of the definition of Sale, Net Sales Proceeds means the proceeds of such transaction or series of transactions less all amounts generated thereby which are reinvested in one (1) or more Assets within one hundred eighty (180) days thereafter and less the amount of any real estate commissions, closing costs, and legal fees and expenses and other selling expenses incurred by or allocated to the Company or the Operating Partnership in connection with such transaction or series of transactions. Net Sales Proceeds shall also include Refinancing Proceeds and any other amounts that the Company determines, in its discretion, to be economically equivalent to proceeds of a Sale. Net Sales Proceeds shall not include any reserves established by the Company, which shall be determined by the Board in its sole discretion.

  • Noncash proceeds means proceeds other than cash proceeds.

  • Qualified Proceeds means assets that are used or useful in, or Capital Stock of any Person engaged in, a Similar Business; provided that the fair market value of any such assets or Capital Stock shall be determined by the Issuer in good faith.

  • Net Loss Proceeds means the aggregate cash proceeds received by Xxxx Las Vegas or any of the Restricted Subsidiaries in respect of any Event of Loss, including, without limitation, insurance proceeds from condemnation awards or damages awarded by any judgment, net of:

  • Cash Proceeds means proceeds that are money, checks, deposit accounts, or the like.

  • Deferred Net Cash Proceeds Payment Date shall have the meaning provided such term in the definition of Net Cash Proceeds.

  • Gross Proceeds means the aggregate purchase price of all Shares sold for the account of the Company through an Offering, without deduction for Organization and Offering Expenses.

  • Principal Proceeds With respect to any Collection Period or Determination Date, all amounts received by the Issuer during the related Collection Period that do not constitute Interest Proceeds and any other amounts that have been designated as Principal Proceeds pursuant to the terms of this Indenture.

  • Deferred Net Cash Proceeds shall have the meaning provided such term in the definition of Net Cash Proceeds.

  • Net Issuance Proceeds means, in respect of any issuance of debt or equity, cash proceeds (including cash proceeds as and when received in respect of non-cash proceeds received or receivable in connection with such issuance), net of underwriting discounts and reasonable out-of-pocket costs and expenses paid or incurred in connection therewith in favor of any Person not an Affiliate of Borrower.