Unrecovered Contribution Account means, with respect to the General Partner, as of any relevant date, the excess of (i) the aggregate amount of cash contributed or deemed contributed by the General Partner to the Partnership pursuant to the provisions of Article IV as of such date, over (ii) the sum of (A) the cumulative distributions of Available Cash and Net Capital Event Proceeds made to the General Partner prior to such relevant date pursuant to Section 5.1 hereof, and (B) the cumulative amounts paid to the General Partner in redemption of its Partnership Units pursuant to Section 8.6(g) as of such date. All amounts distributed and paid to the General Partner pursuant to Sections 5.1 and 8.6(g) shall first be applied to reduce the Unrecovered Contribution Account of the General Partner until the balance of such Unrecovered Contribution Account equals zero ($0), and then shall be applied to reduce the 8% Return Account of the General Partner.
Unrecovered Contribution Account means, (i) with respect to Paladin, the amount of money or the agreed upon fair market value of any property contributed (or deemed contributed) by Paladin to the capital of the Company pursuant to Section 3.01, Section 3.02 and Section 3.03, as the case may be (net of liabilities secured by such contributed property that the Company is considered to assume or take subject to pursuant to Section 752 of the Code), and decreased by the amount of money and the agreed upon fair market value of any property (net of liabilities secured by such distributed property that Paladin is considered to assume or take subject to under Section 752 of the Code) distributed by the Company to Paladin pursuant to Section 5.02(c) and (ii) with respect to each Xxxxxxx Member, the amount of money or the agreed upon fair market value of any property contributed (or deemed contributed) by such Xxxxxxx Member to the capital of the Company pursuant to Section 3.01, Section 3.02 and Section 3.03, as the case may be (net of liabilities secured by such contributed property that the Company is considered to assume or take subject to pursuant to Section 752 of the Code), and decreased by the amount of money and the agreed upon fair market value of any property (net of liabilities secured by such distributed property that such Xxxxxxx Member is considered to assume or take subject to under Section 752 of the Code) distributed (or deemed distributed) by the Company to such Xxxxxxx Member pursuant to Section 5.02(f).
Unrecovered Contribution Account means, with respect to each Partner, as of any relevant date, the excess of (i) the aggregate amount of cash contributed or deemed contributed by such Partner to the Partnership pursuant to the provisions of Section 4 as of such date, over (ii) the sum of (A) the cumulative distributions of Available Operating Cash and Net Sales Proceeds made to such Partner on or prior to such relevant date pursuant to Sections 5.1(b)(i), 5.1(c)(i) and 13.2(a)(ii) hereof (to the extent distributions under Section 13.2(a)(ii) hereof to such Partner constitute a return of the contributions described in the preceding clause (i)), and (B) the cumulative amounts paid to such Partner in redemption of its Partnership Units pursuant to Section 8.6 as of such date. All amounts distributed and paid to a Partner pursuant to Sections 5.1, 8.6 and 13.2(a)(ii) shall first be applied to reduce the Unrecovered Contribution Account of such Partner until the balance of its Unrecovered Contribution Account equals zero ($0), and then shall be applied to reduce the 6.0% Return Account of such Partner.
Examples of Unrecovered Contribution Account in a sentence
The Contributing Member may contribute to the capital of the Company, in cash, within thirty (30) days following the Contribution Date, an amount equal to the Delinquent Contribution, and the Capital Account and Unrecovered Contribution Account of the Contributing Member shall be credited with the amount so contributed.
As of the Effective Date of any advance of a Member Loan, the Non-Contributing Member shall be deemed to have contributed an amount equal to the principal amount of such Member Loan to the capital of the Company, and the Capital Account and Unrecovered Contribution Account of the Non-Contributing Member shall be credited with a like amount.
Any and all adjustments to the Non-Contributing Member’s Percentage Interest shall be rounded to the nearest .01% and (except as provided otherwise in the first paragraph of Section 3.03(b)) the Contributing Member shall not succeed to all or any portion of the Capital Account or Unrecovered Contribution Account of the Non-Contributing Member as the result of any such adjustment.
Any and all Capital Contributions made by each Member pursuant to this Section 3.01 and Sections 3.02 and 3.03 shall be credited to the Capital Account and Unrecovered Contribution Account of each such Member as of the date any such Capital Contribution is made.
Subject to Section 13.2, Net Sales Proceeds shall be distributed to the Partners as determined by the General Partner in its sole and absolute discretion in accordance with their respective Percentage Interests as of the applicable Partnership Record Date until the Unrecovered Contribution Account and 8% Return Account of the General Partner has been reduced to zero ($0).
More Definitions of Unrecovered Contribution Account
Unrecovered Contribution Account means, with respect to the General Partner, as of any relevant date, the excess of (i) the aggregate amount of cash contributed or deemed contributed by the General Partner to the Partnership from the gross proceeds of the issuance by the General Partner of REIT Shares or other Additional Securities pursuant to Article IV hereof as of such date, over (ii) the sum of (A) the cumulative distributions of cash and Net Sales Proceeds made to the General Partner as of such relevant date pursuant to Section 5.02 hereof, and (B) the cumulative amounts paid to the General Partner in redemption of its Partnership Units pursuant to Section 8.05(f) as of such date. All amounts distributed and paid to the General Partner pursuant to Sections 5.02 and 8.05(f) shall first be applied to reduce the Unrecovered Contribution Account until the balance of such Unrecovered Contribution Account equals zero ($0), and then shall be applied towards the calculation of the 7% Return and 8% Return.
Unrecovered Contribution Account means with respect to each Member, the aggregate amount of the Capital Contributions by such Member minus the amount of money and the agreed upon net fair market value of any property distributed or deemed distributed by the Company to such Member in reduction of the Unrecovered Contribution Account of such Member pursuant to Section 4.3(b) hereof.
Unrecovered Contribution Account means, (i) with respect to Paladin, the amount of money or the agreed upon fair market value of any property contributed (or deemed contributed) by Paladin to the capital of the Company pursuant to Section 3.01, Section 3.02 and Section 3.03, as the case may be (net of liabilities secured by such contributed property that the Company is considered to assume or take subject to pursuant to Section 752 of the Code), and decreased by the amount of money and the agreed upon fair market value of any property (net of liabilities secured by such distributed property that Paladin is considered to assume or take subject to under Section 752 of the Code) distributed by the Company to Paladin pursuant to Section 5.02(a), and (ii) with respect to ERES, the aggregate amount of its Unrecovered Class A Contribution Account and Unrecovered Class B Contribution Account.
Unrecovered Contribution Account means with respect to each Member, the amount of money and/or the agreed upon fair market value (as mutually determined by the Members) of any property contributed (or deemed contributed) by such Member to the capital of the Company (net of liabilities secured by such contributed property that the Company is considered to assume or take subject to pursuant to Section 752 of the Code), and DECREASED by the amount of money distributed (or deemed distributed) by the Company to such Member pursuant to Section 5.02(b) and Section 5.04(c) and the agreed upon fair market value (as mutually determined by the Members) of any property distributed to such Member by the Company (net of liabilities secured by such distributed property that such Member is considered to assume or take subject to under Section 752 of the Code) pursuant to Section 5.02(b) and Section 5.04(c). Notwithstanding the foregoing, in no event shall property be contributed by the Members to the Company (other than the Ground lease) or distributed by the Company to the Members without the prior written consent of all Members.
Unrecovered Contribution Account means, with respect to the Landwin Partners, as of any relevant date, the excess of (i) the aggregate amount of cash contributed or deemed contributed by the Landwin Partners to the Partnership pursuant to the provisions of Article IV as of such date, over (ii) the sum of (A) the cumulative distributions of Available Cash and Net Capital Event Proceeds made to the Landwin Partners prior to such relevant date pursuant to Section 5.1 hereof, and (B) the cumulative amounts paid to the Landwin Partners in redemption of its Partnership Units pursuant to Section 8.6(g) as of such date. All amounts distributed and paid to the Landwin Partners pursuant to Sections 5.1 and 8.6(g) shall first be applied to reduce the Unrecovered Contribution Account of the Landwin Partners until the balance of such Unrecovered Contribution Account equals zero ($0), and then shall be applied to reduce the 6% Return Account of the Landwin Partners.
Unrecovered Contribution Account means, with respect to each Unit, the aggregate amount of money and/or the aggregate agreed upon fair market value of any and all property contributed by the Member with respect to such Unit to the capital of the Company (net of liabilities secured by such contributed property that the Company is considered to assume or take subject to under Section 752 of the Code) in accordance with Sections 3.1 and 3.4 and decreased by (a) the aggregate amount of any and all cash Distributions made to such Unit Holder pursuant to Section 7.1(a) of this Agreement and (b) the aggregate agreed upon fair market value of any and all property Distributed to such Unit Holder (net of liabilities secured by such distributed property that such Unit Holder is considered to assume or take subject to under Section 752 of the Code) pursuant to Section 7.1 (a) of this Agreement.
Unrecovered Contribution Account means, with respect to each Partner, the amount credited to such Partner's Capital Account pursuant to Section 4.03, and decreased by (i) the aggregate amount of any and all Cash Flow distributed to such Partner pursuant to Sections 6.01(a), 6.01(c), 6.01(d) and/or 6.01(e), as the case may be, and (ii) the aggregate agreed upon fair market value of any and all property distributed to such Partner (net of liabilities secured by such distributed property that such Partner is considered to assume or take subject to under Section 752 of the Code) pursuant to Sections 6.01(a), 6.01(c), 6.01(d) and/or 6.01(e), as the case may be.