PARTNERSHIP INTEREST AMOUNT definition
PARTNERSHIP INTEREST AMOUNT means, for each Partnership Interest, the amount that would be payable to the Partner holding the Partnership Interest pursuant to the terms of the applicable partnership agreement if the applicable Property Assets were sold for a purchase price (assuming no brokerage commissions, transfer taxes or other transfer costs) equal to the amount set forth as the "100% Amount" in Section 1.01(A) of the THCI Disclosure Schedule (or, in the case of a Partnership Interest for which, as a result of the operation of Section 5.09, there is no "100% Amount", for a purchase price equal to the Allocated Purchase Price for the related Property) where (a) prorations of the type specified in Section 2.07 were made, (b) the principal amount of, and current interest on, all loans to the Partnership and all other partnership debts of the Partnership (and, if applicable, the Second Tier Partnership) were paid in full (assuming that payment in full of all outstanding principal of, and current interest on, indebtedness for money borrowed constitutes payment in full of such indebtedness), (c) no reserves were established for contingent or unasserted claims, (d) the Partnership (and, if applicable, the Second Tier Partnership) were dissolved and liquidated and (e) to the extent of available proceeds from the sale of such Property Assets, all loans made by the Partner to another partner in the Partnership or by another partner in the Partnership to the Partner were repaid.