Extraordinary Receipts

Extraordinary Receipts. Those funds of the Venture which are derived from (i) the net proceeds of any casualty insurance insuring any of the Properties or any portion thereof, to the extent not applied to the repair, restoration or replacement of the Properties or any portion thereof as may be Approved by the Venturers; (ii) the net proceeds of any condemnation, or any taking by eminent domain, or any transfer in lieu thereof, of any of the Properties, or any portion thereof, to the extent not applied to the repair,... restoration or reconstruction of any remaining portion of the Properties as may be Approved by the Venturers; (iii) the net proceeds of any sale of any of the Properties, or any portion thereof; and (iv) the net proceeds of any indebtedness (or any refinancing of such indebtedness) secured in whole or in part by any of the Properties or any portion thereof. View More

Extraordinary Receipts. Is hereby amended by (i) deleting the "and" at the end of clause (vi) therein and substituting in lieu thereof "," and (ii) inserting immediately following clause (vii) therein the phrase "and (viii) proceeds from notes payable to the Borrower or such Subsidiary"