Net Sales Proceeds. Subject to the provisions of Sections 5.1(e), 5.3, 5.4 and 12.2(c), Net Sales Proceeds shall be distributed as follows: (i) First, 100% to the General Partner and Limited Partners in accordance with each such Partner’s respective Percentage Interest until the Net Investment balance is zero; (ii) Second, 100% to the General Partner and Limited Partners in accordance with each such Partner’s respective Percentage Interest until the First Level Return balance is zero; and (iii) Thereafter, (A) 15% to the Special Limited Partner, and (B) 85% to the General Partner and Limited Partners in the case of this clause (B) in accordance with each such Partner’s respective Percentage Interest.
Appears in 9 contracts
Sources: Limited Partnership Agreement (American Realty Capital Daily Net Asset Value Trust, Inc.), Limited Partnership Agreement (American Realty Capital - Retail Centers of America, Inc.), Limited Partnership Agreement (American Realty Capital Healthcare Trust Inc)
Net Sales Proceeds. Subject to the provisions of Sections 5.1(e), 5.3, 5.4 and 12.2(c), Net Sales Proceeds shall be distributed as follows:
(i) First, 100% to the General Partner and Limited Partners in accordance with each such Partner’s respective Percentage Interest until the Net Investment balance of the Stockholders is zero;
(ii) Second, 100% to the General Partner and Limited Partners in accordance with each such Partner’s respective Percentage Interest until the First Level Return balance of the Stockholders is zero; and
(iii) Thereafter, (A) 15% to the Special Limited Partner, and (B) 85% to the General Partner and Limited Partners in the case of this clause (B) in accordance with each such Partner’s respective Percentage Interest.
Appears in 7 contracts
Sources: Limited Partnership Agreement (American Realty Capital Trust IV, Inc.), Limited Partnership Agreement (American Realty Capital Trust IV, Inc.), Limited Partnership Agreement (American Realty Capital Global Daily Net Asset Value Trust, Inc.)