Capital Transaction

Capital Transaction. Either (i) the sale of all or substantially all of the assets of Partnership, (ii) the sale of all or substantially all of the partnership interests in Partnership, (iii) the sale of all or substantially all of the membership interests of Centaur Pennsylvania, LLC, (iv) a merger or related transaction which results in the equivalent of the sale described in items (ii) and (iii), or (v) a sale of equity interests in Partnership and/or Centaur Pennsylvania, LLC which results in Centaur, LLC... owning, directly or indirectly, no more than a 67% interest in Partnership and wherein Partnership has simultaneously entered into a management or other oversight agreement with an affiliate of the buyer or buyer's designee, the practical effect of which will be that neither Centaur, LLC nor any affiliate of Centaur, LLC or any principal or employee of Centaur LLC or affiliate thereof, or any relative of any such principal or employee would retain or receive any material economic value with respect to the Project after the date of such transaction, or (vi) any other transaction pursuant to which substantially all of the economic benefit of the Project is transferred by sale or contract to any unaffiliated third party. View More

Capital Transaction. A transaction pursuant to which (i) the Buyer finances or refinances the Property or any portion thereof, (ii) all or any portion of the Property sold, condemned, exchanged or otherwise disposed of, (iii) insurance proceeds or other damages in respect of the Property are recovered by the Buyer, or (iv) any other transaction that, in accordance with generally accepted accounting principles, is considered capital in nature.