Distribution of Refinancing Proceeds Clause Samples

Distribution of Refinancing Proceeds. Refinancing Proceeds from a refinancing or borrowing shall, unless the General Partner, in its reasonable discretion, shall determine to retain any such amounts in the Partnership in accordance with Section 5.08, be distributed, as soon as is reasonably practicable after the transaction occurs, as follows: (i) first, until the Partners shall have received distributions pursuant to this Section 4.06(i) of Refinancing Proceeds from such refinancing or borrowing equal to the then outstanding Partners' 12% Preferred Distribution, 1% to the General Partner and 99% to the Limited Partners; (ii) second, until the Partners shall have received cumulative distributions of Capital Receipts pursuant to this Section 4.06(ii) and Section 4.07A(ii) equal to the Partners' Capital Contributions, 1% to the General Partner and 99% to the Limited Partners; and (iii) thereafter, 20% to the General Partner and 80% to the Limited Partners.
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Distribution of Refinancing Proceeds. Refinancing Proceeds shall, unless the General Partner, in its sole discretion, shall determine to retain any such amounts in the Partnership, be distributed as follows: (i) first, 5% to the General Partner and 95% to the Limited Partners, until the Partners shall have received cumulative distributions of Capital Receipts equal to $8,842,000; and (ii) thereafter, 35% to the General Partner and 65% to the Limited Partners.
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Distribution of Refinancing Proceeds. Refinancing Proceeds shall be distributed in the following amounts and in the following priority, any such amounts to be paid simultaneously with the payment to Tenant of the applicable Refinancing Transaction: (a) First, to Tenant up to an amount equal to all of the reasonable and actual third- party costs and other customary costs and fees paid by Tenant with respect to such Refinancing Transaction; (b) Second, to the First Permitted Leasehold Mortgagee until all amounts of Approved Debt, if any, due and owing the First Permitted Leasehold Mortgagee under the First Permitted Leasehold Mortgage is paid to the First Permitted Leasehold Mortgagee; (c) Third, to any other Permitted Leasehold Mortgagee until the balance of Approved Debt secured by such Permitted Leasehold Mortgage, including accrued and unpaid interest thereon, and all other amounts, if any, then due and owing such Permitted Leasehold Mortgagee under its Permitted Leasehold Mortgage at the time of such Refinancing, is paid to such Permitted Leasehold Mortgagee; (d) Fourth, to the City 7.5% of all Net Refinancing Proceeds for the first Refinancing Transaction and 10% of all Net Refinancing Proceeds for all Refinancing Transactions thereafter (for purposes of this Section, “Net Refinancing Proceeds” shall mean gross proceeds of the Refinancing Transaction less any lender required reserves funded by Tenant at the closing of such Refinancing Transaction and less the amounts of sub-clauses (a), (b) and (c) above); and
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Related to Distribution of Refinancing Proceeds

  • Distribution of Collateral Proceeds In the event that, following the occurrence or during the continuance of any Event of Default, any monies are received in connection with the enforcement of any of the Security Documents, or otherwise with respect to the realization upon any of the Collateral, such monies shall be distributed for application as follows: (a) First, to the payment of, or (as the case may be) the reimbursement of, the Agent for or in respect of all reasonable costs, expenses, disbursements and losses which shall have been incurred or sustained by the Agent to protect or preserve the collateral or in connection with the collection of such monies by the Agent, for the exercise, protection or enforcement by the Agent of all or any of the rights, remedies, powers and privileges of the Agent under this Agreement or any of the other Loan Documents or in respect of the Collateral or in support of any provision of adequate indemnity to the Agent against any taxes or liens which by law shall have, or may have, priority over the rights of the Agent to such monies; (b) Second, to all other Obligations in such order or preference as the Majority Banks shall determine; provided, however, that (i) distributions in respect of such Obligations shall be made pari passu among Obligations with respect to the Agent's fee payable pursuant to Section 4.3 and all other Obligations, (ii) in the event that any Bank shall have wrongfully failed or refused to make an advance under Section 2.7 and such failure or refusal shall be continuing, advances made by other Banks during the pendency of such failure or refusal shall be entitled to be repaid as to principal and accrued interest in priority to the other Obligations described in this subsection (b), and (iii) Obligations owing to the Banks with respect to each type of Obligation such as interest, principal, fees and expenses, shall be made among the Banks pro rata; and provided, further, that the Majority Banks may in their discretion make proper allowance to take into account any Obligations not then due and payable; and (c) Third, the excess, if any, shall be returned to the Borrower or to such other Persons as are entitled thereto.

  • Application of Net Liquidation Proceeds For all purposes under this agreement, Net Liquidation Proceeds received from a Servicer shall be allocated first to accrued and unpaid interest on the related Mortgage Loan and then to the unpaid principal balance thereof.

  • Liquidation Proceeds Cash received in connection with the liquidation of a defaulted Mortgage Loan, whether through the sale or assignment of such Mortgage Loan, trustee’s sale, foreclosure sale, payment in full, discounted payoff or otherwise, or the sale of the related Mortgaged Property if the Mortgaged Property is acquired in satisfaction of the Mortgage Loan, including any amounts remaining in the related Escrow Account.

  • Distribution of Proceeds In the event that, following the occurrence and during the continuance of any Event of Default, any monies are received in connection with the enforcement of any of the Loan Documents, or otherwise with respect to the realization upon any of the assets of the Borrower or the Guarantors, such monies shall be distributed for application as follows: (a) First, to the payment of, or (as the case may be) the reimbursement of the Agent for or in respect of, all reasonable out-of-pocket costs, expenses, disbursements and losses which shall have been paid, incurred or sustained by the Agent in connection with the collection of such monies by the Agent, for the exercise, protection or enforcement by the Agent of all or any of the rights, remedies, powers and privileges of the Agent or the Lenders under this Agreement or any of the other Loan Documents or in support of any provision of adequate indemnity to the Agent against any taxes or liens which by law shall have, or may have, priority over the rights of the Agent or the Lenders to such monies; (b) Second, to all other Obligations and Hedge Obligations (including any interest, expenses or other obligations incurred after the commencement of a bankruptcy or other proceeding under any Insolvency Law) in such order or preference as the Majority Lenders shall determine; provided, that (i) Swing Loans shall be repaid first, (ii) distributions in respect of such other Obligations shall include, on a pari passu basis, any Agent’s fee payable pursuant to §4.2, (iii) in the event that any Lender is a Defaulting Lender, payments to such Lender shall be governed by §2.13, and (iv) except as otherwise provided in clause (iii), Obligations owing to the Lenders with respect to each type of Obligation such as interest, principal, fees and expenses and Hedge Obligations (but excluding the Swing Loans) shall be made among the Lenders and Lender Hedge Providers, pro rata, and as between the Revolving Credit Loans and Term Loans pro rata; and provided, further that the Majority Lenders may in their discretion make proper allowance to take into account any Obligations not then due and payable; and (c) Third, the excess, if any, shall be returned to the Borrower or to such other Persons as are entitled thereto.

  • Subordinated Share of Net Sales Proceeds The Subordinated Share of Net Sales Proceeds shall be payable to the Advisor in an amount equal to 10% of Net Sales Proceeds remaining after the Stockholders have received Distributions equal to the sum of the Stockholders’ 8% Return and 100% of Invested Capital. Following Listing, no Subordinated Share of Net Sales Proceeds will be paid to the Advisor.