Restoration Amount means with respect to any Obligated Partner, the amount set forth opposite the name of such Obligated Partner on Exhibit 5 hereto and made a part hereof, as such Exhibit may be modified from time to time by an amendment to the Partnership Agreement or by execution of a written instrument by and between any additional Obligated Partner(s) being directly affected thereby and the General Partner, acting on behalf of the Partnership and without the prior written consent of the Limited Partners (whether or not such Limited Partners are Obligated Partners or Indemnitor Partners other than the Obligated Partner(s) being directly affected (thereby). If an entity Obligated Partner makes a distribution of all or any portion of its Units, and the General Partner receives a written notice from such Obligated Partner and any distributee (s) of Units to amend Exhibit 5 to add such distributee(s) as additional Obligated Partner(s), the Restoration Amount of such additional Obligated Partner(s) shall be increased by an amount equal to that amount set forth in such notice, and the Restoration Amount of the Obligated Partner making such distribution shall be reduced by such amount. Those Limited Partners who were limited partners of Weeks Realty, L.P. immediately prior to the Merger shall be given proportionate opportunities to increase any Restoration Amount which they have elected to restore upon liquidation of their interest in the Partnership (as more particularly provided in Section 2.05 hereof) on the same basis, if any, as is provided generally to Limited Partners.
Restoration Amount means with respect to each Member (a) the Member's share of Minimum Gain, and (b) any amount which the Member is unconditionally required under this Agreement or by law to contribute to the Company to restore its Negative Capital Account balance.
Restoration Amount means with respect to any Obligated Partner, the amount set forth opposite the name of such Obligated Partner on Schedule A attached hereto and made a part hereof, as such Schedule may be modified from time to time by an amendment to the Partnership Agreement or by execution of a written instrument by and between such Obligated Partner, and/or any additional Obligated Partner(s) being directly affected thereby and the General Partner, acting on behalf of the Partnership and without the prior written consent of the Limited Partners (whether or not Obligated Partners other than the Obligated Partner(s) being directly affected thereby). If an Obligated Partner makes a distribution of all or any portion of its OP Units in accordance with Section 12(B)(i)(z) hereof, and the General Partner receives a written notice from such Obligated Partner and any distributee of OP Units to amend Schedule A to add such distributee as an additional Obligated Partner, the Restoration Amount of such additional Obligated Partner shall be increased by an amount equal to that amount set forth in such notice, and the Restoration Amount of the Obligated Partner making such distribution shall be reduced by such amount.
Examples of Restoration Amount in a sentence
If any Partner has a deficit balance in its Capital Account that exceeds its Restoration Amount as of the end of any accounting period, there shall be allocated to such Partner items of Partnership income and gain (including gross income and gross gain) in the amount of such excess as quickly as possible.
No member shall be allocated Losses or deductions if such allocation causes a Member's Negative Capital Account to increase in excess of the Member's Restoration Amount.
In the event that the Restoration Amount subsequently increases by the awarding of additional contracts or change orders, or new contracts are entered into to perform Unanticipated Restoration Work, the Restoration Reserve shall be increased accordingly.
The payments of any CEOC Notes Restoration Amount and any Withheld Amount pursuant to the Transaction Agreement shall be treated as “guaranteed payments” by the Company to CEC (or its Subsidiary or Subsidiaries, as applicable) in accordance with Section 707(c) of the Code.
More Definitions of Restoration Amount
Restoration Amount is defined in Section 6.04 of this Agreement.
Restoration Amount means, with respect to each Party, (a) the Party's share of Minimum Gain, and (b) the amount, if any, which the Party is unconditionally required under this Agreement or by law to contribute to the LLC (including the Party's share of debts of the LLC which the Party has guaranteed and the outstanding amount of loans made by the Party to the LLC, in each case only to the extent that the Party does not have a right of contribution from another Party).
Restoration Amount means at any time (i) with respect to the General Partner, the amount of the deficit balance, if any, in such Partner’s Capital Account at such time, and (ii) with respect to any other Partner, the sum of (a) such Partner’s share (as determined under Section 752 of the Code), if any, at such time of the recourse indebtedness of the Fund, but only to the extent that such Partner would be required to make a payment in satisfaction of such indebtedness if all Fund property were sold for the amount of the book basis of such property at such time (determined under Section 704(b) of the Code and the regulations thereunder), and (b) any part of such Partner’s Unfunded Commitment that has not been terminated before such time (to the extent not taken into account in determining such Partner’s share of the recourse indebtedness of the Fund).
Restoration Amount. As of any date of determination, the amount, if any, by which (a) the outstanding principal amount of the Secured Notes (including accrued interest thereon) as of such day exceeds, (b) the Sale Amount as of such day.
Restoration Amount in Section l(b) of the Agreement ------------------ is hereby deleted in its entirety and replaced by the following: Restoration Amount means, as of any date of determination, either (A) ------------------ with respect to Loans made in respect of Non-Bulk Mortgage Loans, the amount, if any, by which (x) the outstanding principal amount of the Loans made in respect of Non-Bulk Mortgage Loans as of such date exceeds (y) the lesser of (i) the product of (I) the Market Value of the Pledged Mortgage Loans that are Non-Bulk Mortgage Loans (disregarding the Market Value of any Mortgage Loans proposed to be pledged to the Lender on such date) and (II) 95%, in the case of First Lien Mortgage Loans, and 85%, in the case of Second Lien Mortgage Loans, and (ii) the outstanding principal balance of the Pledged Mortgage Loans that are Non- Bulk Mortgage Loans (disregarding the outstanding principal balance of any Mortgage Loans to be pledged to the Lender on such date); or (B) with respect to Loans made in respect of Mortgage Loans that are not Non-Bulk Mortgage Loans, the amount, if any, by which the outstanding principal amount of the Loans made in respect of Mortgage Loans that are not Non-Bulk Mortgage Loans as of such date exceeds the product of (x) the lesser of (i) the Market Value of the Pledged Mortgage Loans that are not Non-Bulk Mortgage Loans (disregarding the Market Value of any Mortgage Loans proposed to be pledged to the Lender on such date), or (ii) the outstanding principal amount of the Pledged Loans that are not Non-Bulk Mortgage Loans (disregarding the outstanding principal amount of any Mortgage Loans proposed to be pledged to the Lender on such date), or (iii) the Cost of the Pledged Loans that are not Non-Bulk Mortgage Loans (disregarding the Cost of any Mortgage Loans proposed to be pledged to the Lender on such date), and (y) 95%, in the case of First Lien Mortgage Loans, and 85% in the case of Second Lien Mortgage Loans.
Restoration Amount means, as of any date of determination, the amount, if any, by which (i) the outstanding principal amount of the Loan as of such date (including accrued interest, but excluding the amount of any Advance to be made on such date) exceeds (ii) the Borrowing Base of the Commercial Loans theretofore pledged to the Lender (disregarding any Commercial Loans proposed to be pledged to the Lender on such date).
Restoration Amount. Section 1(B)(2).