1Distributions Sample Clauses
1Distributions. (a) Except as otherwise provided herein, the Company shall make Distributions to the Unitholders in respect of their Units at any time and from time to time as determined by the Board in its sole discretion; provided that such Distributions are permitted under any lending agreements to which the Company or any of its Subsidiaries is a party and under applicable law. Subject to Section 3.1(b), Distributions shall be made in the following order and priority:
(i) First, to the Entrepreneur Preferred Unitholders in proportion to and to the extent of the Unreturned Capital with respect to such Entrepreneur Preferred Units held by each such Unitholder immediately prior to such Distribution;
(ii) Second, to the Foundation Preferred Unitholders in proportion to and to the extent of the Unreturned Capital with respect to such Foundation Preferred Units held by each such Unitholder immediately prior to such Distribution; and
(iii) Third, to the Common Unitholders ratably among such Unitholders based upon the number of outstanding Common Units held by each such Unitholder immediately prior to such Distribution.
(b) Notwithstanding the priority of Distributions in Section 3.1(a), the Company will use reasonable efforts, consistent with any restrictions which may be imposed by any creditor of the Company or any of its Subsidiaries or applicable law, to make quarterly or more frequent Distributions of an amount of cash (a “Tax Distribution“) equal to the product of (i) the Company Income Amount for such calendar quarter or other period, multiplied by (ii) the Assumed Tax Rate for such Fiscal Year. The “Company Income Amount“ for a Fiscal Year shall be an amount, if positive, equal to the estimated net taxable income of the Company for such Fiscal Year based upon the Company’s estimated taxable income through such date, minus any net taxable loss of the Company for any prior Fiscal Year not previously taken into account for purposes of this Section 3.1(b). The “Assumed Tax Rate“ for a Fiscal Year shall be the maximum federal, foreign, state, and local income tax rate that would be applicable to a Unitholder if such Unitholder were taxed for such Fiscal Year (and the calendar quarters or other periods in such Fiscal Year) as a corporation or individual resident or domiciled in either the State of Vermont or the state where the Company is then domiciled (i.e., the highest of the rates, regardless of whether such Unitholder is a corporation, an individual, or another entity...
1Distributions. (a) After the occurrence of an Insolvency Event in relation to either Obligor, either Creditor entitled to receive a distribution out of the assets of that Obligor in respect of Liabilities owed to that Creditor shall, to the extent it is able to do so, direct the person responsible for the distribution of the assets of that Obligor to make that distribution to the Controlling Agent (or to such other person as the Controlling Agent shall direct).
(b) The Controlling Agent shall apply distributions made to it under paragraph (a) above, including any distributions made directly to it from the assets of either Obligor, in accordance with Clause 7 (Application of Proceeds).
1Distributions. If the Company is liquidated, the assets of the Company shall be distributed to the Interest Holders in accordance with the positive balances in their respective Capital Accounts, after taking into account all distributions and allocations of Profit or Loss and other items of income, gain, loss or deduction for the Company's taxable year during which liquidation occurs. Distributions of the Interest Holders pursuant to this Section 4.7.1 shall be made in accordance with Regulation Section 1.704-1(b)(2)(ii)(b)(2).
1Distributions. The Manager shall determine the amount of cash, if any, available for distribution at such times as the Manager deems advisable. The distribution shall be based upon all relevant factors, including, but not limited to, the operating expenses and debt service of the Company, sums expended by the Company for capital expenditures and a reasonable reserve for working capital.
1Distributions. 8.1. 1The Manager shall distribute the Net Cash Flow according to the Preferred Allocation schedule attached as Exhibit “4”. Distributions of Net Cash Flow from operations shall be made on an annual basis.
1Distributions. Except as provided in this Section 5.1 and Sections 5.2, Available Cash and Net Capital Transaction Proceeds shall be distributed from time to time subject to the Condor Member’s reasonable approval, but no less often than quarterly for Available Cash, and as soon as practical (but in no event later than thirty (30) days) after receipt of Net Capital Transaction Proceeds, to the Members, in each case to the extent of available funds, as follows:
1Distributions