Reinvestment Proceeds definition

Reinvestment Proceeds means, with respect to any Share issued pursuant to a Reinvestment Plan, the net asset value of the Corporation allocable to the Shares of such class, determined as described in the Prospectus, divided by the number of outstanding Shares of such class, at the time of issuance.

Reinvestment Proceeds with respect to any Allocated Proceeds received when no Event of Default has occurred and is continuing, the portion thereof which the Borrower (directly or indirectly through a Subsidiary) intends and expects to use to acquire assets useful in its business, on or prior to the earlier of (a) the date that is eighteen months from the date of receipt of such Allocated Proceeds and (b) the Business Day immediately preceding the date on which such proceeds would be required to be applied, or to be offered to be applied, to prepay, redeem or defease any Indebtedness of the Borrower or any of its Affiliates (other than Indebtedness under this Agreement) if not applied as described above (such earlier date, the “Reinvestment Deadline”), provided that such use will not require purchases, repurchases, redemptions or prepayments (or offers to make purchases, repurchases, redemptions or prepayments) of any other Indebtedness of the Borrower or any of its Affiliates.

Reinvestment Proceeds means, with respect to any Share issued pursuant to a Reinvestment Plan, the Class T NAV per Share, the Class S NAV Per Share or Class D NAV Per Share, as applicable, of such Share at the time of issuance.

Examples of Reinvestment Proceeds in a sentence

• Net Offering Proceeds shall not include cash proceeds received by a Subsidiary as a result of an investment by a joint venture partner or any Dividend Reinvestment Proceeds.

• For purposes of this §8.7(a), Distributions shall not include any Dividend Reinvestment Proceeds.

• The Collateral Agent shall promptly release any such Eligible Reinvestment Proceeds on deposit in such blocked account upon request by the Company for the purpose of making such reinvestments as contemplated herein; provided that any such request by the Company is accompanied by a certificate, signed by a Responsible Officer, describing, in reasonable detail, the proposed use of such Eligible Reinvestment Proceeds.

• The Borrower shall, on a quarterly basis, deliver to the Administrative Agent evidence satisfactory to the Administrative Agent of the application of Dividend Reinvestment Proceeds and a certificate from the chief financial officer of the Borrower that the Borrower shall continue to be in compliance with all applicable provisions of the Code and its bylaws and operating covenants after giving effect to such dividends or distributions.

• In the event any Lenders decline such Unused Reinvestment Proceeds in accordance with Section 2.04(c), the Borrower shall deposit any such declined amount in the Specified Distributable Cash Account.

More Definitions of Reinvestment Proceeds

Reinvestment Proceeds shall have the meaning assigned to such term in the definition of “Net Proceeds.”

Reinvestment Proceeds shall have the meaning given such term in Section 2.10(b).

Reinvestment Proceeds means, at any time, all net proceeds of dispositions of assets (other than sales by the Borrower or a Subsidiary of the Borrower of common stock (or common stock equivalents) of the Borrower) by Borrower and its Subsidiaries (but excluding any such dispositions permitted by Sections 7.08(a), (b), (c), (e) or (f) or the proviso to Section 7.08(d)), to the extent, without duplication, that (i) such net proceeds have not yet been applied to the acquisition of properties and other assets that replace the properties and assets that were the subject of such disposition or properties and assets that will be used in the businesses of the Borrower or its Subsidiaries existing on the Closing Date (or in businesses reasonably related or complementary thereto) or to the repayment of the Term Advances and permanent reduction of the Revolving Credit Commitment Amount and the prepayment of the Revolving Advances and cash collateralization of the Letters of Credit in accordance with Section 2.13(a), and with respect to which less than 360 days has elapsed since the disposition giving rise to such proceeds, or (ii) an amount equal to or greater than such net proceeds has been applied to the acquisition of properties and other assets that (as determined by the board of directors of the Borrower) replace the properties and assets that were the subject of such disposition or properties and assets that will be used in the businesses of the Borrower or its Subsidiaries existing on the Closing Date (or in businesses reasonably related or complementary thereto) within 180 days prior to the disposition giving rise to such proceeds, provided that, to the extent that the Borrower and its Subsidiaries receive in excess of $10,000,000 of Net Cash Proceeds from dispositions (but excluding any such dispositions permitted by Sections 7.08(a), (b), (c), (e) or (f) or the proviso to Section 7.08(d)) in any fiscal year of the Borrower, such excess shall not be Reinvestment Proceeds.

Reinvestment Proceeds has the meaning assigned to such term in Section 3.04(c).

Reinvestment Proceeds has the meaning given to it in Section 4.2.

Reinvestment Proceeds set forth in Section 1.01 of the Credit Agreement is hereby amended and restated to read in its entirety as follows:

Reinvestment Proceeds means, (i) with respect to any Class D Common Share issued pursuant to a Reinvestment Plan, the Net Asset Value per Class D Common Share of such Share at the time of issuance, (ii) with respect to any Class M Common Share issued pursuant to a Reinvestment Plan, the Net Asset Value per Class M Common Share of such Share at the time of issuance and (iii) with respect to any Class T Common Share issued pursuant to a Reinvestment Plan, the Net Asset Value per Class T Common Share of such Share at the time of issuance.