Common use of Definition of Net Cash Flow Clause in Contracts

Definition of Net Cash Flow. For purposes of this Agreement, the term "Net Cash Flow" for any calendar year or fraction of a calendar year, shall mean the excess, if any, of (1) the sum of (A) the net income of the Partnership for such calendar year or fraction thereof, plus (B) any funds previously set aside as reserves by the General Partner to the extent that it no longer reasonably regards such reserves as necessary in the efficient control of the Partnership business, over (2) the sum of (A) all amounts payable in such calendar year or fraction thereof on account of the amortization (i.e. principal payments) of any debts of the Partnership (including, without limitation loans secured by mortgages on the Project) other than repayments out of the proceeds of any Capital Transaction (as defined in Section 6.1.B), plus (B) the amount of any funds set aside as reserves or used for capital expenditures by the General Partner plus (C) any other cash expenditures which have not been deducted in determining net income of the Partnership.

Definition of Net Cash Flow. For purposes of this Agreement, the term "Net Cash Flow" for any calendar year or fraction of a calendar year, shall mean the excess, if any, of (1) the sum of (A) the net income of the Partnership for such calendar year or fraction thereof, plus (B) any funds previously set aside as reserves by the General Partner to the extent that it no longer reasonably regards such reserves as necessary in the efficient control of the Partnership business, over (2) the sum such of (A) all amounts payable in such calendar year or fraction thereof on account of the amortization (i.e. principal payments) of any debts of the Partnership (including, without limitation loans secured by mortgages on the Project) other than repayments out of the proceeds of any Capital Transaction (as defined in Section 6.1.B), plus (B3) the amount of any funds set aside as reserves or used for capital expenditures by the General Partner plus (C) any other cash expenditures which have not been deducted in determining net income of the Partnership.